DNB Bank ASA

BATS-CHIXE:DNBO Stock Report

Market Cap: NOK 357.6b

DNB Bank Valuation

Is DNBO undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of DNBO when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
NOK 465.60
Fair Value
48.3% undervalued intrinsic discount
16
Number of Analysts

Below Fair Value: DNBO (NOK240.55) is trading below our estimate of fair value (NOK465.6)

Significantly Below Fair Value: DNBO is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for DNBO?

Key metric: As DNBO is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for DNBO. This is calculated by dividing DNBO's market cap by their current earnings.
What is DNBO's PE Ratio?
PE Ratio8.2x
EarningsNOK 43.87b
Market CapNOK 357.62b

Price to Earnings Ratio vs Peers

How does DNBO's PE Ratio compare to its peers?

The above table shows the PE ratio for DNBO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average8.8x
STAN Standard Chartered
8.3x5.5%UK£26.9b
NWG NatWest Group
8.1x1.1%UK£36.1b
LLOY Lloyds Banking Group
8.5x4.8%UK£38.0b
BARC Barclays
10.4x10.8%UK£44.1b
DNBO DNB Bank
8.2x-6.1%NOK 357.6b

Price-To-Earnings vs Peers: DNBO is good value based on its Price-To-Earnings Ratio (8.2x) compared to the peer average (8.8x).

Price to Earnings Ratio vs Industry

How does DNBO's PE Ratio compare vs other companies in the European Banks Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No. of Companies42PE0612182430+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: DNBO is good value based on its Price-To-Earnings Ratio (8.2x) compared to the European Banks industry average (8.2x).

Price to Earnings Ratio vs Fair Ratio

What is DNBO's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

DNBO PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio8.2x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate DNBO's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst DNBO forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 240.55
NOK 242.13
+0.7%
8.6%NOK 285.00NOK 215.00n/a16
Feb ’26NOK 242.05
NOK 238.87
-1.3%
7.6%NOK 280.00NOK 213.00n/a15
Jan ’26NOK 226.20
NOK 235.94
+4.3%
8.3%NOK 285.00NOK 210.00n/a16
Dec ’25NOK 231.05
NOK 235.80
+2.1%
8.5%NOK 285.00NOK 210.00n/a15
Nov ’25NOK 229.60
NOK 231.15
+0.7%
8.9%NOK 280.00NOK 207.00n/a15
Oct ’25NOK 216.55
NOK 223.31
+3.1%
7.6%NOK 265.00NOK 197.00n/a17
Sep ’25NOK 223.00
NOK 218.81
-1.9%
6.8%NOK 246.00NOK 194.00n/a14
Aug ’25NOK 224.50
NOK 216.45
-3.6%
7.3%NOK 246.00NOK 194.00n/a14
Jul ’25n/a
NOK 211.54
0%
8.2%NOK 240.00NOK 181.00n/a13
Jun ’25NOK 206.05
NOK 211.15
+2.5%
8.5%NOK 240.00NOK 176.00n/a13
May ’25NOK 207.40
NOK 209.46
+1.0%
7.3%NOK 240.00NOK 176.00n/a13
Apr ’25NOK 213.80
NOK 211.57
-1.0%
5.2%NOK 230.00NOK 192.00n/a14
Mar ’25n/a
NOK 214.75
0%
6.2%NOK 243.00NOK 192.00n/a16
Feb ’25NOK 211.80
NOK 220.18
+4.0%
10.1%NOK 290.00NOK 192.00NOK 242.0517
Jan ’25n/a
NOK 223.29
0%
9.8%NOK 290.00NOK 192.00NOK 226.2017
Dec ’24NOK 206.70
NOK 223.53
+8.1%
9.7%NOK 290.00NOK 192.00NOK 231.0517
Nov ’24n/a
NOK 224.12
0%
9.6%NOK 290.00NOK 192.00NOK 229.6017
Oct ’24NOK 215.95
NOK 226.06
+4.7%
9.4%NOK 290.00NOK 188.00NOK 216.5516
Sep ’24n/a
NOK 222.94
0%
9.7%NOK 290.00NOK 188.00NOK 223.0017
Aug ’24n/a
NOK 222.65
0%
9.7%NOK 290.00NOK 188.00NOK 224.5017
Jul ’24NOK 200.00
NOK 217.35
+8.7%
9.8%NOK 285.00NOK 183.00n/a17
Jun ’24NOK 187.48
NOK 216.59
+15.5%
10.2%NOK 285.00NOK 179.00NOK 206.0517
May ’24NOK 183.68
NOK 214.17
+16.6%
12.9%NOK 295.00NOK 147.00NOK 207.4018
Apr ’24NOK 184.25
NOK 213.06
+15.6%
12.0%NOK 285.00NOK 147.00NOK 213.8018
Mar ’24NOK 200.40
NOK 214.33
+7.0%
13.0%NOK 285.00NOK 147.00n/a18
Feb ’24NOK 187.78
NOK 207.50
+10.5%
13.5%NOK 275.00NOK 147.00NOK 211.8018
Analyst Price Target
Consensus Narrative from 16 Analysts
NOK 241.47
Fair Value
0.4% undervalued intrinsic discount
16
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/02/11 08:25
End of Day Share Price 2025/02/10 00:00
Earnings2024/12/31
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

DNB Bank ASA is covered by 36 analysts. 15 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
null nullABG Sundal Collier
Fridtjof BerentsArctic Securities ASA
Namita SamtaniBarclays