Jyske Bank Valuation

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

JYSKC (DKK517.5) is trading below our estimate of [[fair value]] (DKK1187.78)

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

Valuation Score

3/6

Valuation Score 3/6

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 JYSKC when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow

Simply Wall St

DKK 1.19k

Fair Value

56.4% undervalued

Number of Analysts

Below Fair Value: JYSKC (DKK517.5) is trading below our estimate of fair value (DKK1187.78)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for JYSKC. This is calculated by dividing JYSKC's market cap by their current earnings.
What is JYSKC's PE Ratio?
PE Ratio	6x
Earnings	DKK 5.60b
Market Cap	DKK 33.46b

JYSKC key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	n/a
Enterprise Value/EBITDA	n/a
PEG Ratio	-1x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for JYSKC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	5.4x
HSBK Halyk Bank of Kazakhstan	3.5x	n/a	US$5.5b
TBCG TBC Bank Group	6.2x	16.5%	UK£2.2b
BGEO Lion Finance Group	3.4x	-5.1%	UK£2.2b
STAN Standard Chartered	8.6x	5.5%	UK£27.2b
JYSKC Jyske Bank	6x	-6.1%	DKK 33.5b

Price-To-Earnings vs Peers: JYSKC is expensive based on its Price-To-Earnings Ratio (6x) compared to the peer average (5.4x).

Price to Earnings Ratio vs Industry

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

2 Companies	Price / Earnings	Estimated Growth	Market Cap

2 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: JYSKC is good value based on its Price-To-Earnings Ratio (6x) compared to the European Banks industry average (8.3x).

Price to Earnings Ratio vs Fair Ratio

What is JYSKC'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.

JYSKC PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	6x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate JYSKC'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 JYSKC forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	n/a	DKK 562.25 0%	6.2%	DKK 600.00	DKK 522.00	n/a	4
Feb ’26	n/a	DKK 571.67 0%	6.2%	DKK 600.00	DKK 522.00	n/a	3
Jan ’26	n/a	DKK 576.33 0%	6.7%	DKK 607.00	DKK 522.00	n/a	3
Dec ’25	n/a	DKK 572.33 0%	7.7%	DKK 607.00	DKK 510.00	n/a	3
Nov ’25	DKK 476.80	DKK 585.00 +22.7%	9.6%	DKK 645.00	DKK 510.00	n/a	3
Oct ’25	n/a	DKK 618.75 0%	4.7%	DKK 650.00	DKK 585.00	n/a	4
Sep ’25	n/a	DKK 618.75 0%	4.7%	DKK 650.00	DKK 585.00	n/a	4
Aug ’25	DKK 552.25	DKK 631.25 +14.3%	4.4%	DKK 670.00	DKK 600.00	n/a	4
Jul ’25	n/a	DKK 631.25 0%	4.4%	DKK 670.00	DKK 600.00	n/a	4
Jun ’25	DKK 560.25	DKK 641.67 +14.5%	3.8%	DKK 670.00	DKK 610.00	n/a	3
May ’25	n/a	DKK 652.00 0%	6.3%	DKK 700.00	DKK 600.00	n/a	3
Apr ’25	DKK 581.50	DKK 617.33 +6.2%	7.8%	DKK 662.00	DKK 550.00	n/a	3
Mar ’25	n/a	DKK 620.50 0%	6.8%	DKK 662.00	DKK 550.00	n/a	4
Feb ’25	n/a	DKK 613.75 0%	7.0%	DKK 645.00	DKK 540.00	n/a	4
Jan ’25	n/a	DKK 593.33 0%	8.7%	DKK 630.00	DKK 520.00	n/a	3
Dec ’24	n/a	DKK 595.40 0%	7.5%	DKK 650.00	DKK 532.00	n/a	5
Nov ’24	n/a	DKK 599.40 0%	7.1%	DKK 650.00	DKK 532.00	DKK 476.80	5
Oct ’24	n/a	DKK 608.20 0%	5.0%	DKK 650.00	DKK 576.00	n/a	5
Sep ’24	n/a	DKK 614.20 0%	6.2%	DKK 670.00	DKK 576.00	n/a	5
Aug ’24	DKK 513.10	DKK 611.20 +19.1%	5.9%	DKK 660.00	DKK 576.00	DKK 552.25	5
Jul ’24	n/a	DKK 580.17 0%	13.2%	DKK 660.00	DKK 425.00	n/a	6
Jun ’24	n/a	DKK 581.00 0%	14.5%	DKK 660.00	DKK 425.00	DKK 560.25	5
May ’24	n/a	DKK 568.75 0%	16.1%	DKK 680.00	DKK 425.00	n/a	4
Apr ’24	n/a	DKK 576.25 0%	17.6%	DKK 710.00	DKK 425.00	DKK 581.50	4
Mar ’24	DKK 575.20	DKK 530.50 -7.8%	20.2%	DKK 710.00	DKK 425.00	n/a	4
Feb ’24	DKK 485.10	DKK 475.50 -2.0%	6.2%	DKK 497.00	DKK 425.00	n/a	4

Analyst Price Target

Consensus Narrative from 4 Analysts

DKK 534.86

Fair Value

3.2% undervalued

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

Data	Last Updated (UTC time)
Company Analysis	2025/02/21 16:25
End of Day Share Price	2025/02/05 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

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.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* 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

Jyske Bank A/S is covered by 14 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
null null	ABG Sundal Collier
Namita Samtani	Barclays
Namita Samtani	Barclays