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Sparekassen Sjælland-Fyn

CPSE:SPKSJF
Snowflake Description

Undervalued with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SPKSJF
CPSE
DKK2B
Market Cap
  1. Home
  2. DK
  3. Banks
Company description

Sparekassen Sjælland-Fyn A/S, a savings bank, provides banking products and services to private individuals and corporate customers. The last earnings update was 46 days ago. More info.


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SPKSJF Share Price and Events
7 Day Returns
-0.4%
CPSE:SPKSJF
-3.8%
DK Banks
-0.1%
DK Market
1 Year Returns
-9.7%
CPSE:SPKSJF
-40.8%
DK Banks
1.8%
DK Market
SPKSJF Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Sparekassen Sjælland-Fyn (SPKSJF) -0.4% 5.8% 9.3% -9.7% 10.4% -
DK Banks -3.8% -4.9% -9.2% -40.8% -30.9% -26.4%
DK Market -0.1% 1% 0.9% 1.8% 15.4% 35.8%
1 Year Return vs Industry and Market
  • SPKSJF outperformed the Banks industry which returned -40.8% over the past year.
  • SPKSJF underperformed the Market in Denmark which returned 1.8% over the past year.
Price Volatility
SPKSJF
Industry
5yr Volatility vs Market

Value

 Is Sparekassen Sjælland-Fyn undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Sparekassen Sjælland-Fyn to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Sparekassen Sjælland-Fyn.

CPSE:SPKSJF Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= DKK203.27 * 8.3%
DKK16.79
Book Value of Equity per Share Median Book Value from the past 5 years. DKK203.27
Discount Rate (Cost of Equity) See below 5.7%
Perpetual Growth Rate 10-Year DK Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for CPSE:SPKSJF
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DK Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.59
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.592 (1 + (1- 22%) (61.01%))
0.915
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.91
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.21% + (0.915 * 5.96%)
5.67%

Discounted Cash Flow Calculation for CPSE:SPKSJF using Excess Returns Model Model

The calculations below outline how an intrinsic value for Sparekassen Sjælland-Fyn is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

CPSE:SPKSJF Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (8.3% – 5.67%) * DKK203.27)
DKK5.27
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= DKK5.27 / (5.67% - 0.21%)
DKK96.68
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= DKK203.27 + DKK96.68
DKK299.95
CPSE:SPKSJF Discount to Share Price
Calculation Result
Value per share (DKK) From above. DKK299.95
Current discount Discount to share price of DKK94.40
= -1 x (DKK94.40 - DKK299.95) / DKK299.95
68.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Sparekassen Sjælland-Fyn is available for.
Intrinsic value
>50%
Share price is DKK94.4 vs Future cash flow value of DKK299.95
Current Discount Checks
For Sparekassen Sjælland-Fyn to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Sparekassen Sjælland-Fyn's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Sparekassen Sjælland-Fyn's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Sparekassen Sjælland-Fyn's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Sparekassen Sjælland-Fyn's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
CPSE:SPKSJF PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in DKK DKK8.69
CPSE:SPKSJF Share Price ** CPSE (2019-06-24) in DKK DKK94.4
Denmark Banks Industry PE Ratio Median Figure of 21 Publicly-Listed Banks Companies 8.72x
Denmark Market PE Ratio Median Figure of 102 Publicly-Listed Companies 16.86x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Sparekassen Sjælland-Fyn.

CPSE:SPKSJF PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= CPSE:SPKSJF Share Price ÷ EPS (both in DKK)

= 94.4 ÷ 8.69

10.86x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Sparekassen Sjælland-Fyn is overvalued based on earnings compared to the DK Banks industry average.
  • Sparekassen Sjælland-Fyn is good value based on earnings compared to the Denmark market.
Price based on expected Growth
Does Sparekassen Sjælland-Fyn's expected growth come at a high price?
Raw Data
CPSE:SPKSJF PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.86x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
19.1%per year
Denmark Banks Industry PEG Ratio Median Figure of 6 Publicly-Listed Banks Companies 0.03x
Denmark Market PEG Ratio Median Figure of 44 Publicly-Listed Companies 2.15x

*Line of best fit is calculated by linear regression .

CPSE:SPKSJF PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 10.86x ÷ 19.1%

0.57x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Sparekassen Sjælland-Fyn is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Sparekassen Sjælland-Fyn's assets?
Raw Data
CPSE:SPKSJF PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in DKK DKK179.15
CPSE:SPKSJF Share Price * CPSE (2019-06-24) in DKK DKK94.4
Denmark Banks Industry PB Ratio Median Figure of 21 Publicly-Listed Banks Companies 0.65x
Denmark Market PB Ratio Median Figure of 136 Publicly-Listed Companies 1.62x
CPSE:SPKSJF PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= CPSE:SPKSJF Share Price ÷ Book Value per Share (both in DKK)

= 94.4 ÷ 179.15

0.53x

* Primary Listing of Sparekassen Sjælland-Fyn.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Sparekassen Sjælland-Fyn is good value based on assets compared to the DK Banks industry average.
X
Value checks
We assess Sparekassen Sjælland-Fyn's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. Sparekassen Sjælland-Fyn has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Sparekassen Sjælland-Fyn expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
19.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Sparekassen Sjælland-Fyn expected to grow at an attractive rate?
  • Sparekassen Sjælland-Fyn's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Sparekassen Sjælland-Fyn's earnings growth is expected to exceed the Denmark market average.
  • Sparekassen Sjælland-Fyn's revenue growth is positive but not above the Denmark market average.
Annual Growth Rates Comparison
Raw Data
CPSE:SPKSJF Future Growth Rates Data Sources
Data Point Source Value (per year)
CPSE:SPKSJF Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 19.1%
CPSE:SPKSJF Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 4.2%
Denmark Banks Industry Earnings Growth Rate Market Cap Weighted Average 2.8%
Denmark Banks Industry Revenue Growth Rate Market Cap Weighted Average 2.2%
Denmark Market Earnings Growth Rate Market Cap Weighted Average 10.5%
Denmark Market Revenue Growth Rate Market Cap Weighted Average 6.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
CPSE:SPKSJF Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in DKK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
CPSE:SPKSJF Future Estimates Data
Date (Data in DKK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 1,171 271 1
2020-12-31 1,136 252 1
2019-12-31 1,089 219 1
CPSE:SPKSJF Past Financials Data
Date (Data in DKK Millions) Revenue Cash Flow Net Income *
2019-03-31 1,040 -2,439 148
2018-12-31 1,045 -2,153 148
2018-09-30 1,035 -1,006 162
2018-06-30 1,036 -1,225 178
2018-03-31 1,046 -170 206
2017-12-31 1,047 -377 201
2017-09-30 1,038 -430 204
2017-06-30 1,024 -346 192
2017-03-31 990 75 173
2016-12-31 960 -120 159
2016-09-30 941 -261 29
2016-06-30 895 -451 12

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Sparekassen Sjælland-Fyn's earnings are expected to grow by 19.1% yearly, however this is not considered high growth (20% yearly).
  • Sparekassen Sjælland-Fyn's revenue is expected to grow by 4.2% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
CPSE:SPKSJF Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from Sparekassen Sjælland-Fyn Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

CPSE:SPKSJF Future Estimates Data
Date (Data in DKK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 14.17 14.17 14.17 1.00
2020-12-31 13.09 13.09 13.09 1.00
2019-12-31 11.38 11.38 11.38 1.00
CPSE:SPKSJF Past Financials Data
Date (Data in DKK Millions) EPS *
2019-03-31 8.69
2018-12-31 9.27
2018-09-30 11.17
2018-06-30 12.78
2018-03-31 15.48
2017-12-31 15.25
2017-09-30 15.78
2017-06-30 14.87
2017-03-31 13.39
2016-12-31 12.31
2016-09-30 2.24
2016-06-30 0.96

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Sparekassen Sjælland-Fyn is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Sparekassen Sjælland-Fyn's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Denmark market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Denmark market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Sparekassen Sjælland-Fyn has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Sparekassen Sjælland-Fyn performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Sparekassen Sjælland-Fyn's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Sparekassen Sjælland-Fyn has delivered over 20% year on year earnings growth in the past 5 years.
  • Sparekassen Sjælland-Fyn's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Sparekassen Sjælland-Fyn's 1-year earnings growth is negative, it can't be compared to the DK Banks industry average.
Earnings and Revenue History
Sparekassen Sjælland-Fyn's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Sparekassen Sjælland-Fyn Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

CPSE:SPKSJF Past Revenue, Cash Flow and Net Income Data
Date (Data in DKK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 1,040.24 147.91 774.24
2018-12-31 1,044.55 148.13 768.92
2018-09-30 1,034.52 162.22 779.38
2018-06-30 1,035.60 177.80 766.84
2018-03-31 1,046.41 205.51 749.07
2017-12-31 1,047.32 200.79 731.90
2017-09-30 1,037.71 203.61 716.74
2017-06-30 1,024.22 192.43 701.49
2017-03-31 990.21 173.19 687.88
2016-12-31 959.57 159.41 679.32
2016-09-30 941.50 28.94 668.28
2016-06-30 894.70 12.44 662.62
2016-03-31 864.30 9.93 651.14
2015-12-31 838.72 7.06 644.02
2015-06-30 907.16 165.16 625.30
2015-03-31 881.28 180.89 615.87
2014-12-31 833.00 178.79 613.17
2014-06-30 -497.39 -629.59 594.69
2014-03-31 -552.26 -686.38 563.53
2013-12-31 -607.12 -743.17 532.37
2013-06-30 490.53 -24.26 471.10
2013-03-31 506.84 -2.23 474.19
2012-12-31 523.15 19.80 477.29
2012-09-30 491.49 29.72 450.88
2012-06-30 459.83 39.65 424.48

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Sparekassen Sjælland-Fyn has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Sparekassen Sjælland-Fyn used its assets less efficiently than the DK Banks industry average last year based on Return on Assets.
  • Unable to establish if Sparekassen Sjælland-Fyn improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Sparekassen Sjælland-Fyn's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Sparekassen Sjælland-Fyn has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Sparekassen Sjælland-Fyn's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Sparekassen Sjælland-Fyn's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Sparekassen Sjælland-Fyn Company Filings, last reported 2 months ago.

CPSE:SPKSJF Past Debt and Equity Data
Date (Data in DKK Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 3,111.11 1,000.15 1,774.11
2018-12-31 3,083.31 902.18 1,840.55
2018-09-30 3,588.23 1,049.50 2,596.93
2018-06-30 3,530.82 908.17 2,629.92
2018-03-31 2,783.63 740.55 2,849.05
2017-12-31 2,812.41 869.46 2,213.64
2017-09-30 2,739.83 723.11 1,727.37
2017-06-30 2,672.01 781.99 1,761.95
2017-03-31 2,649.35 716.47 1,713.09
2016-12-31 2,587.77 927.78 1,781.37
2016-09-30 2,588.64 766.28 1,493.34
2016-06-30 2,533.82 918.00 1,600.02
2016-03-31 2,529.95 817.24 893.62
2015-12-31 2,469.21 821.23 1,033.18
2015-06-30 1,645.00 1,560.00 1,462.00
2015-03-31 2,199.85 962.99 1,526.81
2014-12-31 2,199.85 962.99 1,526.81
2014-06-30 1,577.08 1,647.46 309.05
2014-03-31 1,577.08 1,647.46 309.05
2013-12-31 1,528.90 1,935.71 938.65
2013-06-30 2,186.08 1,538.40 76.02
2013-03-31 2,186.08 1,538.40 76.02
2012-12-31 2,216.31 2,768.62 504.14
2012-09-30 2,216.31 2,768.62 504.14
2012-06-30 2,141.91 2,788.96 80.70
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Sparekassen Sjælland-Fyn has an acceptable proportion of non-loan assets held.
  • Sparekassen Sjælland-Fyn's liabilities are made up of primarily low risk sources of funding.
  • Loans at Sparekassen Sjælland-Fyn are broadly funded by customer deposits.
  • Sparekassen Sjælland-Fyn's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • Unable to establish if Sparekassen Sjælland-Fyn has a sufficient allowance for bad loans without relevant financial data.
  • Unable to establish if Sparekassen Sjælland-Fyn has an acceptable level of bad loans without bad loans data.
X
Financial health checks
We assess Sparekassen Sjælland-Fyn's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Sparekassen Sjælland-Fyn has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Sparekassen Sjælland-Fyn's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.65%
Current annual income from Sparekassen Sjælland-Fyn dividends. Estimated to be 3.41% next year.
If you bought DKK2,000 of Sparekassen Sjælland-Fyn shares you are expected to receive DKK53 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Sparekassen Sjælland-Fyn's pays a higher dividend yield than the bottom 25% of dividend payers in Denmark (1.64%).
  • Sparekassen Sjælland-Fyn's dividend is below the markets top 25% of dividend payers in Denmark (4.71%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
CPSE:SPKSJF Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
Denmark Banks Industry Average Dividend Yield Market Cap Weighted Average of 15 Stocks 7%
Denmark Market Average Dividend Yield Market Cap Weighted Average of 78 Stocks 2.4%
Denmark Minimum Threshold Dividend Yield 10th Percentile 1%
Denmark Bottom 25% Dividend Yield 25th Percentile 1.6%
Denmark Top 25% Dividend Yield 75th Percentile 4.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

CPSE:SPKSJF Future Dividends Estimate Data
Date (Data in DKK) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 3.54 1.00
2020-12-31 3.27 1.00
2019-12-31 2.84 1.00
CPSE:SPKSJF Past Annualized Dividends Data
Date (Data in DKK) Dividend per share (annual) Avg. Yield (%)
2019-02-07 2.500 2.835
2018-10-29 0.000 0.000
2018-08-14 0.000 0.000
2018-05-08 0.000 0.000
2018-02-08 0.000 0.000
2017-03-09 3.050 2.465
2016-03-16 3.000 3.086

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Sparekassen Sjælland-Fyn has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Sparekassen Sjælland-Fyn has only been paying a dividend for 3 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of Sparekassen Sjælland-Fyn's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.5x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.4x coverage).
X
Income/ dividend checks
We assess Sparekassen Sjælland-Fyn's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Sparekassen Sjælland-Fyn afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Sparekassen Sjælland-Fyn has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Sparekassen Sjælland-Fyn's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Lars Petersson
COMPENSATION DKK5,124,000
AGE 51
TENURE AS CEO 9.4 years
CEO Bio

Mr. Lars Petersson serves as Chief Executive Officer, Managing Director & Member of Executive Board at Sparekassen Sjælland-Fyn A/S. Mr. Petersson serves as Chief Executive Officer and Managing Director of Sparekassen Sjælland. He served as Chief Executive Officer of Sjælland Ejendomme A/S. He serves as the Chairman of the Board of Directors in Sparekassen Fyn A/S and Holbæk kommunes talentråd. He serves as Deputy Chairman of the Board of Directors in Nærpension and Lokal Puljepension. Mr. Petersson serves as a Director of BI Holding A/S, DLR Kredit A/S, Tilskudsfonden for pensionister i DLR, Copenhagen FinTech and Sjælland Ejendomme A/S. He served as Member of the Board of Directors of Leasing Fyn Faaborg A/S, Leasing Fyn Bank A/S and ForsikringsSamarbejde A/S (FSS). He holds Master's degree in Management.

CEO Compensation
  • Lars's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Lars's remuneration is higher than average for companies of similar size in Denmark.
Management Team Tenure

Average tenure and age of the Sparekassen Sjælland-Fyn management team in years:

1.4
Average Tenure
54
Average Age
  • The average tenure for the Sparekassen Sjælland-Fyn management team is less than 2 years, this suggests a new team.
Management Team

Lars Petersson

TITLE
MD, CEO & Member of Executive Board
COMPENSATION
DKK5M
AGE
51
TENURE
9.4 yrs

Bruno Riis-Nielsen

TITLE
Savings Bank Director & Member of Executive Board
COMPENSATION
DKK4M
AGE
65

Jens Trane

TITLE
Chief Financial Officer

Lars Bolding

TITLE
Savings Bank Director
AGE
54
TENURE
0.4 yrs

Thomas Sandal

TITLE
Head of Internal Audit

Pia Blæsbjerg

TITLE
Head of Compliance & Customer Complaints

Marianne Salling

TITLE
Sales & Marketing Manager
TENURE
1.4 yrs

Bettina Krohn

TITLE
Chief Human Resources Officer

Jan Jensen

TITLE
Head of the Secretariat & Executive Secretary

Lars Mikkelsen

TITLE
Head of Credits
Board of Directors Tenure

Average tenure and age of the Sparekassen Sjælland-Fyn board of directors in years:

5.4
Average Tenure
55
Average Age
  • The tenure for the Sparekassen Sjælland-Fyn board of directors is about average.
Board of Directors

Thomas Kullegaard

TITLE
Chairman of the Board
AGE
65
TENURE
7.4 yrs

Jakob Andersson

TITLE
Vice Chairman of the Board
AGE
51
TENURE
6.4 yrs

Lars Bolding

TITLE
Savings Bank Director
AGE
54
TENURE
0.4 yrs

Bent Andersen

TITLE
Independent Director
AGE
70
TENURE
4.4 yrs

Erik Larsen

TITLE
Independent Director
AGE
60
TENURE
6.4 yrs

Otto Spliid

TITLE
Independent Director
AGE
57
TENURE
6.4 yrs

Per Olsen

TITLE
Development Director & Director
AGE
55
TENURE
25.4 yrs

Mads Wallin

TITLE
Director
AGE
38
TENURE
3.4 yrs

Helle Lindhof Bjornoe

TITLE
Director
AGE
55
TENURE
4.4 yrs

Kirsten Nielsen

TITLE
Director
TENURE
0.4 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (DKK) Value (DKK)
X
Management checks
We assess Sparekassen Sjælland-Fyn's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Sparekassen Sjælland-Fyn has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Do Institutions Own Shares In Sparekassen Sjælland-Fyn A/S (CPH:SPKSJF)?

Every investor in Sparekassen Sjælland-Fyn A/S (CPH:SPKSJF) should be aware of the most powerful shareholder groups. … Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. … With a market capitalization of ø1.5b, Sparekassen Sjælland-Fyn is a small cap stock, so it might not be well known by many institutional investors.

Simply Wall St -

What Makes Sparekassen Sjælland-Fyn A/S (CPH:SPKSJF) A Hard Investment?

Sparekassen Sjælland-Fyn A/S’s (CPH:SPKSJF) profitability and risk are largely affected by the underlying economic growth for the region it operates in DK given it is a small-cap stock with a market capitalisation of ø1.75b. … Post-GFC recovery brought about a new set of reforms, Basel III, which was created to improve regulation, supervision and risk management in the financial services industry. … The Basel III reforms are aimed at banking regulations to improve financial institutions’ ability to absorb shocks caused by economic stress which could expose banks like Sparekassen Sjælland-Fyn to vulnerabilities.

Simply Wall St -

Three Understated Metrics For Sparekassen Sjælland-Fyn A/S (CPH:SPKSJF) You Should Know

As a small-cap bank stock with a market capitalisation of ø1.84b, Sparekassen Sjælland-Fyn A/S’s (CPH:SPKSJF) risk and profitability are largely determined by the underlying economic growth of the DK regions in which it operates. … Basel III target banking regulations to improve the sector’s ability to absorb shocks resulting from economic stress which may expose financial institutions like Sparekassen Sjælland-Fyn to vulnerabilities. … High liquidity and low leverage could position Sparekassen Sjælland-Fyn favourably at the face of macro headwinds.

Simply Wall St -

Should You Have Sparekassen Sjælland-Fyn A/S's (CPH:SPKSJF) In Your Portfolio?

Generally, an investor should consider two types of risk that impact the market value of SPKSJF. … Every stock in the market is exposed to this risk, which arises from macroeconomic factors such as economic growth and geo-political tussles just to name a few. … SPKSJF's beta implies it may be a stock that investors with high-beta portfolios might find relevant if they wanted to reduce their exposure to market risk, especially during times of downturns.

Simply Wall St -

Should You Buy Sparekassen Sjælland-Fyn A/S (CPH:SPKSJF) At This PE Ratio?

Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for SPKSJF Price per share = DKK108.5 Earnings per share = DKK15.464 ∴ Price-Earnings Ratio = DKK108.5 ÷ DKK15.464 = 7x The P/E ratio itself doesn’t tell you a lot; however, it becomes very insightful when you compare it with other similar companies. … For example, if you accidentally compared higher growth firms with SPKSJF, then SPKSJF’s P/E would naturally be lower since investors would reward its peers’ higher growth with a higher price. … Alternatively, if you inadvertently compared less risky firms with SPKSJF, SPKSJF’s P/E would again be lower since investors would reward its peers’ lower risk with a higher price as well.

Simply Wall St -

With An ROE Of 9.15%, Has Sparekassen Sjælland-Fyn A/S's (CPH:SPKSJF) Management Done Well?

See our latest analysis for Sparekassen Sjælland-Fyn Breaking down Return on Equity Return on Equity (ROE) is a measure of Sparekassen Sjælland-Fyn’s profit relative to its shareholders’ equity. … Return on Equity = Net Profit ÷ Shareholders Equity ROE is measured against cost of equity in order to determine the efficiency of Sparekassen Sjælland-Fyn’s equity capital deployed. … This is called the Dupont Formula: Dupont Formula ROE = profit margin × asset turnover × financial leverage ROE = (annual net profit ÷ sales) × (sales ÷ assets) × (assets ÷ shareholders’ equity) ROE = annual net profit ÷ shareholders’ equity CPSE:SPKSJF Last Perf Apr 20th 18 The first component is profit margin, which measures how much of sales is retained after the company pays for all its expenses.

Simply Wall St -

Three Understated Metrics For Sparekassen Sjælland-Fyn A/S (CPH:SPKSJF) You Should Know

Strong management of leverage and liquidity could place the bank in a protected position at the face of macro headwinds. … Since Sparekassen Sjælland-Fyn’s loan to deposit ratio of 66.77%is well-below than the appropriate maximum of 90%, this means the bank is lending out less than its total level of deposits and positions the bank cautiously in terms of liquidity as it has not disproportionately lent out its deposits and has retained an apt level of deposits. … There is opportunity for the bank to increase its interest income by lending out more loans.Next Steps: Sparekassen Sjælland-Fyn passes all of our liquidity and leverage checks which shows it is prudent in managing those factors.

Simply Wall St -

Want To Invest In Sparekassen Sjælland-Fyn A/S (CPH:SPKSJF)? Here's How It Performed Lately

Check out our latest analysis for Sparekassen Sjælland-Fyn Were SPKSJF's earnings stronger than its past performances and the industry? … For Sparekassen Sjælland-Fyn, its latest trailing-twelve-month earnings is Ø200.79M, which, in comparison to the prior year's level, has jumped up by 25.96%. … Given that these values may be relatively short-term thinking, I’ve calculated an annualized five-year figure for SPKSJF's earnings, which stands at -Ø16.23M This suggests that, on average, Sparekassen Sjælland-Fyn has been able to gradually improve its earnings over the past few years as well.

Simply Wall St -

Company Info

Description

Sparekassen Sjælland-Fyn A/S, a savings bank, provides banking products and services to private individuals and corporate customers. It offers savings accounts, cards, insurance products, foreign trade services, investment products, portfolio management, equity products, housing loans, pension products, and online banking services The company was formerly known as Sparekassen Sjælland A/S and changed its name to Sparekassen Sjælland-Fyn A/S in May 2016. Sparekassen Sjælland-Fyn A/S was founded in 1825 and is based in Holbæk, Denmark.

Details
Name: Sparekassen Sjælland-Fyn A/S
SPKSJF
Exchange: CPSE
Founded: 1825
DKK1,639,322,835
17,365,708
Website: http://www.spks.dk
Address: Sparekassen Sjælland-Fyn A/S
Isefjords Alle 5,
Holbaek,
Region of Southern Denmark, 4300,
Denmark
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
CPSE SPKSJF Bearer Shares OMX Nordic Exchange Copenhagen DK DKK 03. Dec 2015
Number of employees
Current staff
Staff numbers
613
Sparekassen Sjælland-Fyn employees.
Industry
Diversified Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/24 22:45
End of day share price update: 2019/06/24 00:00
Last estimates confirmation: 2019/05/10
Last earnings filing: 2019/05/09
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.