SpareBank 1 SMN Valuation
Is MINGO undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
2/6Valuation 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.
Below Fair Value: MINGO (NOK161.57) is trading below our estimate of fair value (NOK334.06)
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.
| What is MINGO's PE Ratio? | |
|---|---|
| PE Ratio | 7.8x |
| Earnings | NOK 3.06b |
| Market Cap | NOK 23.78b |
| Key Statistics | |
|---|---|
| Enterprise Value/Revenue | n/a |
| Enterprise Value/EBITDA | n/a |
| PEG Ratio | 1.8x |
Price to Earnings Ratio vs Peers
How does MINGO's PE Ratio compare to its peers?
| Company | Forward PE | Estimated Growth | Market Cap |
|---|---|---|---|
| Peer Average | 4.5x | ||
TBCG TBC Bank Group | 4.9x | 16.8% | UK£1.7b |
BGEO Bank of Georgia Group | 3.2x | -3.2% | UK£2.2b |
HSBK Halyk Bank of Kazakhstan | 3.3x | n/a | US$5.2b |
TCS TCS Group Holding | 6.5x | n/a | US$5.1b |
MINGO SpareBank 1 SMN | 7.8x | 4.2% | NOK 23.8b |
Price-To-Earnings vs Peers: MINGO is expensive based on its Price-To-Earnings Ratio (7.8x) compared to the peer average (4.5x).
Price to Earnings Ratio vs Industry
How does MINGO'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 | |
|---|---|---|---|
Price-To-Earnings vs Industry: MINGO is expensive based on its Price-To-Earnings Ratio (7.8x) compared to the European Banks industry average (7.2x).
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.
| Fair Ratio | |
|---|---|
| Current PE Ratio | 7.8x |
| Fair PE Ratio | n/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?
| Date | Share Price | Average 1Y Price Target | Dispersion | High | Low | 1Y Actual price | Analysts |
|---|---|---|---|---|---|---|---|
| Current | n/a | NOK 177.50 0% | 3.1% | NOK 185.00 | NOK 170.00 | n/a | 4 |
| Nov ’25 | n/a | NOK 173.75 0% | 3.1% | NOK 180.00 | NOK 165.00 | n/a | 4 |
| Oct ’25 | n/a | NOK 169.25 0% | 2.6% | NOK 175.00 | NOK 165.00 | n/a | 4 |
| Sep ’25 | n/a | NOK 168.00 0% | 2.5% | NOK 175.00 | NOK 165.00 | n/a | 4 |
| Aug ’25 | n/a | NOK 166.75 0% | 3.2% | NOK 175.00 | NOK 160.00 | n/a | 4 |
| Jul ’25 | n/a | NOK 164.25 0% | 1.6% | NOK 167.00 | NOK 160.00 | n/a | 4 |
| Jun ’25 | n/a | NOK 164.25 0% | 1.6% | NOK 167.00 | NOK 160.00 | n/a | 4 |
| May ’25 | n/a | NOK 159.00 0% | 2.7% | NOK 165.00 | NOK 155.00 | n/a | 4 |
| Apr ’25 | n/a | NOK 160.25 0% | 2.2% | NOK 165.00 | NOK 155.00 | n/a | 4 |
| Mar ’25 | n/a | NOK 160.25 0% | 2.2% | NOK 165.00 | NOK 155.00 | n/a | 4 |
| Feb ’25 | n/a | NOK 157.75 0% | 2.8% | NOK 161.00 | NOK 150.00 | n/a | 4 |
| Jan ’25 | n/a | NOK 157.75 0% | 2.8% | NOK 161.00 | NOK 150.00 | n/a | 4 |
| Dec ’24 | n/a | NOK 157.75 0% | 2.8% | NOK 161.00 | NOK 150.00 | n/a | 4 |
| Nov ’24 | n/a | NOK 158.25 0% | 3.1% | NOK 163.00 | NOK 150.00 | n/a | 4 |
| Oct ’24 | n/a | NOK 158.25 0% | 3.1% | NOK 163.00 | NOK 150.00 | n/a | 4 |
| Sep ’24 | n/a | NOK 158.25 0% | 3.1% | NOK 163.00 | NOK 150.00 | n/a | 4 |
| Aug ’24 | n/a | NOK 153.25 0% | 4.3% | NOK 163.00 | NOK 145.00 | n/a | 4 |
| Jul ’24 | n/a | NOK 153.25 0% | 4.3% | NOK 163.00 | NOK 145.00 | n/a | 4 |
| Jun ’24 | NOK 133.40 | NOK 152.75 +14.5% | 3.9% | NOK 161.00 | NOK 145.00 | n/a | 4 |
| May ’24 | n/a | NOK 152.75 0% | 3.9% | NOK 161.00 | NOK 145.00 | n/a | 4 |
| Apr ’24 | NOK 123.00 | NOK 151.50 +23.2% | 3.9% | NOK 161.00 | NOK 145.00 | n/a | 4 |
| Mar ’24 | NOK 137.40 | NOK 150.00 +9.2% | 2.4% | NOK 155.00 | NOK 145.00 | n/a | 4 |
| Feb ’24 | NOK 124.60 | NOK 150.50 +20.8% | 2.8% | NOK 157.00 | NOK 145.00 | n/a | 4 |
| Jan ’24 | n/a | NOK 150.50 0% | 2.8% | NOK 157.00 | NOK 145.00 | n/a | 4 |
| Dec ’23 | NOK 117.80 | NOK 150.50 +27.8% | 2.8% | NOK 157.00 | NOK 145.00 | n/a | 4 |
| Nov ’23 | NOK 112.70 | NOK 153.00 +35.8% | 3.8% | NOK 160.00 | NOK 145.00 | n/a | 4 |
Analyst Forecast: Target price is less than 20% higher than the current share price.
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