SpareBank 1 Nord-Norge

BATS-CHIXE:NONGO Stock Report

Market Cap: NOK 12.2b

SpareBank 1 Nord-Norge Valuation

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

Below Fair Value: NONGO (NOK119.16) is trading below our estimate of fair value (NOK261.31)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for NONGO. This is calculated by dividing NONGO's market cap by their current earnings.
What is NONGO's PE Ratio?
PE Ratio7.7x
EarningsNOK 1.60b
Market CapNOK 12.24b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for NONGO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average3.7x
TBCG TBC Bank Group
4.9x17.4%UK£1.7b
BGEO Bank of Georgia Group
3.1x-4.1%UK£2.0b
CBG Close Brothers Group
3.7x16.0%UK£332.2m
HSBK Halyk Bank of Kazakhstan
3.3xn/aUS$5.0b
NONGO SpareBank 1 Nord-Norge
7.7x8.5%NOK 12.2b

Price-To-Earnings vs Peers: NONGO is expensive based on its Price-To-Earnings Ratio (7.7x) compared to the peer average (3.7x).

Price to Earnings Ratio vs Industry

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

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No. of Companies46PE0612182430+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: NONGO is expensive based on its Price-To-Earnings Ratio (7.7x) compared to the European Banks industry average (7.7x).

Price to Earnings Ratio vs Fair Ratio

What is NONGO'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.

NONGO PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio7.7x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate NONGO'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 NONGO forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentn/a
NOK 123.25
0%
3.3%NOK 130.00NOK 120.00n/a4
Dec ’25n/a
NOK 123.25
0%
3.3%NOK 130.00NOK 120.00n/a4
Nov ’25n/a
NOK 120.75
0%
3.1%NOK 125.00NOK 115.00n/a4
Oct ’25n/a
NOK 119.50
0%
3.2%NOK 125.00NOK 115.00n/a4
Sep ’25n/a
NOK 119.25
0%
3.2%NOK 125.00NOK 115.00n/a4
Aug ’25n/a
NOK 113.50
0%
6.1%NOK 120.00NOK 102.00n/a4
Jul ’25n/a
NOK 113.00
0%
5.9%NOK 120.00NOK 102.00n/a4
Jun ’25n/a
NOK 113.00
0%
5.9%NOK 120.00NOK 102.00n/a4
May ’25n/a
NOK 111.75
0%
5.0%NOK 115.00NOK 102.00n/a4
Apr ’25n/a
NOK 115.00
0%
3.1%NOK 120.00NOK 110.00n/a4
Mar ’25n/a
NOK 115.50
0%
3.2%NOK 120.00NOK 110.00n/a4
Feb ’25n/a
NOK 114.25
0%
3.8%NOK 120.00NOK 110.00n/a4
Jan ’25n/a
NOK 114.25
0%
3.8%NOK 120.00NOK 110.00n/a4
Dec ’24n/a
NOK 114.25
0%
3.8%NOK 120.00NOK 110.00n/a4
Nov ’24n/a
NOK 113.00
0%
5.2%NOK 120.00NOK 105.00n/a4
Oct ’24n/a
NOK 114.25
0%
6.6%NOK 125.00NOK 105.00n/a4
Sep ’24n/a
NOK 113.75
0%
6.5%NOK 125.00NOK 105.00n/a4
Aug ’24n/a
NOK 112.25
0%
7.6%NOK 125.00NOK 104.00n/a4
Jul ’24n/a
NOK 112.25
0%
7.6%NOK 125.00NOK 104.00n/a4
Jun ’24NOK 92.25
NOK 111.50
+20.9%
7.5%NOK 125.00NOK 104.00n/a4
May ’24NOK 95.75
NOK 109.75
+14.6%
5.8%NOK 120.00NOK 104.00n/a4
Apr ’24NOK 93.40
NOK 108.50
+16.2%
4.0%NOK 115.00NOK 104.00n/a4
Mar ’24NOK 102.00
NOK 107.25
+5.1%
4.2%NOK 115.00NOK 104.00n/a4
Feb ’24n/a
NOK 106.25
0%
6.1%NOK 115.00NOK 100.00n/a4
Jan ’24n/a
NOK 106.25
0%
6.1%NOK 115.00NOK 100.00n/a4
Dec ’23NOK 90.10
NOK 105.75
+17.4%
6.6%NOK 115.00NOK 98.00n/a4

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 Analysis2024/12/20 04:56
End of Day Share Price 2024/12/12 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

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 here.

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 .

Analyst Sources

SpareBank 1 Nord-Norge is covered by 11 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
Jan GjerlandABG Sundal Collier
Fridtjof BerentsArctic Securities ASA
Geir KristiansenBeringer Finance AB