SpareBank 1 SMN

BATS-CHIXE:MINGO Stock Report

Market Cap: NOK 27.8b

SpareBank 1 SMN Valuation

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

Valuation Score

2/6

Valuation Score 2/6

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

Discounted Cash Flow
Simply Wall St
NOK 332.50
Fair Value
44.5% undervalued intrinsic discount
4
Number of Analysts

Below Fair Value: MINGO (NOK184.65) is trading below our estimate of fair value (NOK332.5)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for MINGO. This is calculated by dividing MINGO's market cap by their current earnings.
What is MINGO's PE Ratio?
PE Ratio9.8x
EarningsNOK 2.85b
Market CapNOK 27.83b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for MINGO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average8.6x
MTRO Metro Bank Holdings
19.1x33.20%UK£810.3m
TBCG TBC Bank Group
7x17.20%UK£2.5b
BGEO Lion Finance Group
5.2x10.71%UK£2.8b
HSBK Halyk Bank of Kazakhstan
3.3x7.62%US$6.6b
MINGO SpareBank 1 SMN
9.8x10.55%NOK 27.8b

Price-To-Earnings vs Peers: MINGO is expensive based on its Price-To-Earnings Ratio (9.8x) compared to the peer average (8.6x).

Price to Earnings Ratio vs Industry

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

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
No. of Companies45PE0612182430+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: MINGO is expensive based on its Price-To-Earnings Ratio (9.8x) compared to the European Banks industry average (9x).

Price to Earnings Ratio vs Fair Ratio

What is MINGO'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.

MINGO PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio9.8x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate MINGO'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 MINGO forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentn/a
NOK 195.50
0%
7.77%NOK 210.00NOK 170.00n/a4
May ’26NOK 184.65
NOK 188.00
+1.81%
6.39%NOK 202.00NOK 170.00n/a4
Apr ’26NOK 182.39
NOK 189.25
+3.76%
6.82%NOK 202.00NOK 170.00n/a4
Mar ’26n/a
NOK 186.25
0%
5.81%NOK 200.00NOK 170.00n/a4
Feb ’26n/a
NOK 184.25
0%
5.80%NOK 200.00NOK 170.00n/a4
Jan ’26n/a
NOK 179.25
0%
3.14%NOK 185.00NOK 170.00n/a4
Dec ’25n/a
NOK 177.50
0%
3.15%NOK 185.00NOK 170.00n/a4
Nov ’25n/a
NOK 173.75
0%
3.14%NOK 180.00NOK 165.00n/a4
Oct ’25n/a
NOK 169.25
0%
2.59%NOK 175.00NOK 165.00n/a4
Sep ’25n/a
NOK 168.00
0%
2.45%NOK 175.00NOK 165.00n/a4
Aug ’25n/a
NOK 166.75
0%
3.24%NOK 175.00NOK 160.00n/a4
Jul ’25n/a
NOK 164.25
0%
1.57%NOK 167.00NOK 160.00n/a4
Jun ’25n/a
NOK 164.25
0%
1.57%NOK 167.00NOK 160.00n/a4
May ’25n/a
NOK 159.00
0%
2.67%NOK 165.00NOK 155.00NOK 184.654
Apr ’25n/a
NOK 160.25
0%
2.22%NOK 165.00NOK 155.00NOK 182.394
Mar ’25n/a
NOK 160.25
0%
2.22%NOK 165.00NOK 155.00n/a4
Feb ’25n/a
NOK 157.75
0%
2.85%NOK 161.00NOK 150.00n/a4
Jan ’25n/a
NOK 157.75
0%
2.85%NOK 161.00NOK 150.00n/a4
Dec ’24n/a
NOK 157.75
0%
2.85%NOK 161.00NOK 150.00n/a4
Nov ’24n/a
NOK 158.25
0%
3.11%NOK 163.00NOK 150.00n/a4
Oct ’24n/a
NOK 158.25
0%
3.11%NOK 163.00NOK 150.00n/a4
Sep ’24n/a
NOK 158.25
0%
3.11%NOK 163.00NOK 150.00n/a4
Aug ’24n/a
NOK 153.25
0%
4.34%NOK 163.00NOK 145.00n/a4
Jul ’24n/a
NOK 153.25
0%
4.34%NOK 163.00NOK 145.00n/a4
Jun ’24NOK 133.40
NOK 152.75
+14.51%
3.88%NOK 161.00NOK 145.00n/a4
May ’24n/a
NOK 152.75
0%
3.88%NOK 161.00NOK 145.00n/a4
AnalystConsensusTarget
Consensus Narrative from 4 Analysts
NOK 187.00
Fair Value
1.3% undervalued intrinsic discount
4
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 Analysis2025/05/19 09:00
End of Day Share Price 2025/04/29 00:00
Earnings2025/03/31
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

SpareBank 1 SMN is covered by 10 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.

AnalystInstitution
null nullABG Sundal Collier
Fridtjof BerentsArctic Securities ASA
Ulrik ZürcherBeringer Finance AB