Voss Veksel- og Landmandsbank Valuation

Q: What is the Fair Price of 0GI5 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

0GI5 (NOK210) is trading above our estimate of [[fair value]] (NOK196.38)

Is 0GI5 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

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 0GI5 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 0GI5 (NOK210) is trading above our estimate of fair value (NOK196.38)

Significantly Below Fair Value: 0GI5 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 0GI5?

Key metric: As 0GI5 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 0GI5. This is calculated by dividing 0GI5's market cap by their current earnings.
What is 0GI5's PE Ratio?
PE Ratio	9.3x
Earnings	NOK 54.17m
Market Cap	NOK 502.45m

0GI5 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	1.1x

Price to Earnings Ratio vs Peers

How does 0GI5's PE Ratio compare to its peers?

The above table shows the PE ratio for 0GI5 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	5.2x
STB Secure Trust Bank	2.5x	32.7%	UK£68.5m
ARBB Arbuthnot Banking Group	4.7x	8.7%	UK£149.4m
CBG Close Brothers Group	3.6x	16.0%	UK£321.5m
PVBK Pacific Valley Bancorp	10.2x	n/a	US$45.4m
0GI5 Voss Veksel- og Landmandsbank	9.3x	8.1%	NOK 502.4m

Price-To-Earnings vs Peers: 0GI5 is good value based on its Price-To-Earnings Ratio (9.3x) compared to the peer average (18.5x).

Price to Earnings Ratio vs Industry

How does 0GI5'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: 0GI5 is expensive based on its Price-To-Earnings Ratio (9.3x) compared to the European Banks industry average (7.3x).

Price to Earnings Ratio vs Fair Ratio

What is 0GI5'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.

0GI5 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	9.3x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate 0GI5'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?

Analyst Forecast: Insufficient data to show price forecast.

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