SpareBank 1 Østlandet

BATS-CHIXE:SPOLO Stock Report

Market Cap: NOK 24.6b

SpareBank 1 Østlandet Valuation

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

Discounted Cash Flow
Simply Wall St
NOK 274.24
Fair Value
35.8% undervalued intrinsic discount
4
Number of Analysts

Below Fair Value: SPOLO (NOK175.93) is trading below our estimate of fair value (NOK274.24)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for SPOLO. This is calculated by dividing SPOLO's market cap by their current earnings.
What is SPOLO's PE Ratio?
PE Ratio10.9x
EarningsNOK 2.26b
Market CapNOK 24.58b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for SPOLO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average5.4x
TBCG TBC Bank Group
7x17.20%UK£2.5b
BGEO Lion Finance Group
5.1x10.71%UK£2.8b
HSBK Halyk Bank of Kazakhstan
3.5x8.59%US$6.3b
ARBB Arbuthnot Banking Group
6.1x5.19%UK£149.5m
SPOLO SpareBank 1 Østlandet
10.9x10.85%NOK 24.6b

Price-To-Earnings vs Peers: SPOLO is expensive based on its Price-To-Earnings Ratio (10.9x) compared to the peer average (5.4x).

Price to Earnings Ratio vs Industry

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

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
No. of Companies43PE0612182430+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: SPOLO is expensive based on its Price-To-Earnings Ratio (10.9x) compared to the European Banks industry average (9x).

Price to Earnings Ratio vs Fair Ratio

What is SPOLO'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.

SPOLO PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio10.9x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate SPOLO'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 SPOLO forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 175.93
NOK 168.75
-4.08%
4.26%NOK 180.00NOK 160.00n/a4
May ’26n/a
NOK 168.75
0%
4.26%NOK 180.00NOK 160.00n/a4
Apr ’26n/a
NOK 168.75
0%
4.26%NOK 180.00NOK 160.00n/a4
Mar ’26n/a
NOK 162.50
0%
2.24%NOK 167.00NOK 158.00n/a4
Feb ’26n/a
NOK 160.50
0%
4.10%NOK 167.00NOK 150.00n/a4
Jan ’26n/a
NOK 156.50
0%
4.00%NOK 165.00NOK 150.00n/a4
Dec ’25n/a
NOK 155.25
0%
3.07%NOK 160.00NOK 150.00n/a4
Nov ’25n/a
NOK 155.25
0%
3.07%NOK 160.00NOK 150.00n/a4
Oct ’25n/a
NOK 154.75
0%
3.46%NOK 160.00NOK 148.00n/a4
Sep ’25n/a
NOK 154.75
0%
3.46%NOK 160.00NOK 148.00n/a4
Aug ’25n/a
NOK 144.75
0%
3.60%NOK 150.00NOK 137.00n/a4
Jul ’25n/a
NOK 142.00
0%
3.63%NOK 150.00NOK 137.00n/a4
Jun ’25n/a
NOK 141.25
0%
3.66%NOK 150.00NOK 137.00n/a4
May ’25n/a
NOK 138.75
0%
3.16%NOK 145.00NOK 133.00n/a4
Apr ’25n/a
NOK 141.25
0%
2.94%NOK 145.00NOK 135.00n/a4
Mar ’25n/a
NOK 141.25
0%
2.94%NOK 145.00NOK 135.00n/a4
Feb ’25NOK 122.40
NOK 140.00
+14.38%
2.53%NOK 145.00NOK 135.00n/a4
Jan ’25n/a
NOK 141.25
0%
1.53%NOK 145.00NOK 140.00n/a4
Dec ’24n/a
NOK 141.25
0%
1.53%NOK 145.00NOK 140.00n/a4
Nov ’24n/a
NOK 142.50
0%
1.75%NOK 145.00NOK 140.00n/a4
Oct ’24n/a
NOK 146.25
0%
3.73%NOK 155.00NOK 140.00n/a4
Sep ’24n/a
NOK 146.25
0%
3.73%NOK 155.00NOK 140.00n/a4
Aug ’24n/a
NOK 145.75
0%
5.60%NOK 158.00NOK 135.00n/a4
Jul ’24n/a
NOK 145.75
0%
5.60%NOK 158.00NOK 135.00n/a4
Jun ’24n/a
NOK 145.00
0%
5.75%NOK 158.00NOK 135.00n/a4
May ’24n/a
NOK 143.50
0%
4.89%NOK 154.00NOK 135.00n/a4
AnalystConsensusTarget
Consensus Narrative from 4 Analysts
NOK 164.11
Fair Value
7.2% overvalued intrinsic discount
4
Number of Analysts

Analyst Forecast: Target price is lower than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/05/17 11:21
End of Day Share Price 2025/05/13 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 Østlandet is covered by 4 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
Håkon AstrupDNB Markets
Žilvinas JusaitisNorne Securities AS
Herman ZahlPareto Securities