DNB Bank ASA

LSE:0O84 Stock Report

Market Cap: NOK 332.4b

DNB Bank Valuation

Is 0O84 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 0O84 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 0O84 (NOK225.5) is trading below our estimate of fair value (NOK499.55)

Significantly Below Fair Value: 0O84 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 0O84?

Key metric: As 0O84 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 0O84. This is calculated by dividing 0O84's market cap by their current earnings.
What is 0O84's PE Ratio?
PE Ratio8.1x
EarningsNOK 40.96b
Market CapNOK 332.42b

Price to Earnings Ratio vs Peers

How does 0O84's PE Ratio compare to its peers?

The above table shows the PE ratio for 0O84 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average7.7x
STAN Standard Chartered
7.3x5.2%UK£23.4b
NWG NatWest Group
7.1x1.1%UK£31.8b
LLOY Lloyds Banking Group
7.4x4.2%UK£32.8b
BARC Barclays
8.8x10.9%UK£37.4b
0O84 DNB Bank
8.1x-7.6%NOK 332.4b

Price-To-Earnings vs Peers: 0O84 is expensive based on its Price-To-Earnings Ratio (8.1x) compared to the peer average (7.7x).

Price to Earnings Ratio vs Industry

How does 0O84's PE Ratio compare vs other companies in the European Banks Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
0O84 8.1xIndustry Avg. 7.6xNo. of Companies46PE0612182430+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 0O84 is expensive based on its Price-To-Earnings Ratio (8.1x) compared to the European Banks industry average (7.6x).

Price to Earnings Ratio vs Fair Ratio

What is 0O84'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.

0O84 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio8.1x
Fair PE Ratio5x

Price-To-Earnings vs Fair Ratio: 0O84 is expensive based on its Price-To-Earnings Ratio (8.1x) compared to the estimated Fair Price-To-Earnings Ratio (5x).

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 0O84 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 225.50
NOK 235.94
+4.6%
8.3%NOK 285.00NOK 210.00n/a16
Dec ’25NOK 231.06
NOK 235.80
+2.1%
8.5%NOK 285.00NOK 210.00n/a15
Nov ’25NOK 229.64
NOK 231.15
+0.7%
8.9%NOK 280.00NOK 207.00n/a15
Oct ’25NOK 215.27
NOK 223.31
+3.7%
7.6%NOK 265.00NOK 197.00n/a17
Sep ’25NOK 224.86
NOK 218.81
-2.7%
6.8%NOK 246.00NOK 194.00n/a14
Aug ’25NOK 224.10
NOK 216.45
-3.4%
7.3%NOK 246.00NOK 194.00n/a14
Jul ’25NOK 212.16
NOK 211.54
-0.3%
8.2%NOK 240.00NOK 181.00n/a13
Jun ’25NOK 204.30
NOK 211.15
+3.4%
8.5%NOK 240.00NOK 176.00n/a13
May ’25NOK 194.10
NOK 209.46
+7.9%
7.3%NOK 240.00NOK 176.00n/a13
Apr ’25NOK 214.37
NOK 211.57
-1.3%
5.2%NOK 230.00NOK 192.00n/a14
Mar ’25NOK 214.37
NOK 214.75
+0.2%
6.2%NOK 243.00NOK 192.00n/a16
Feb ’25NOK 205.73
NOK 220.18
+7.0%
10.1%NOK 290.00NOK 192.00n/a17
Jan ’25NOK 214.51
NOK 223.29
+4.1%
9.8%NOK 290.00NOK 192.00n/a17
Dec ’24NOK 206.43
NOK 223.53
+8.3%
9.7%NOK 290.00NOK 192.00NOK 231.0617
Nov ’24NOK 199.22
NOK 224.12
+12.5%
9.6%NOK 290.00NOK 192.00NOK 229.6417
Oct ’24NOK 216.42
NOK 226.06
+4.5%
9.4%NOK 290.00NOK 188.00NOK 215.2716
Sep ’24NOK 210.75
NOK 222.94
+5.8%
9.7%NOK 290.00NOK 188.00NOK 224.8617
Aug ’24NOK 208.70
NOK 222.65
+6.7%
9.7%NOK 290.00NOK 188.00NOK 224.1017
Jul ’24NOK 200.70
NOK 217.35
+8.3%
9.8%NOK 285.00NOK 183.00NOK 212.1617
Jun ’24NOK 188.15
NOK 216.59
+15.1%
10.2%NOK 285.00NOK 179.00NOK 204.3017
May ’24NOK 186.50
NOK 214.17
+14.8%
12.9%NOK 295.00NOK 147.00NOK 194.1018
Apr ’24NOK 187.06
NOK 213.06
+13.9%
12.0%NOK 285.00NOK 147.00NOK 214.3718
Mar ’24NOK 205.34
NOK 214.33
+4.4%
13.0%NOK 285.00NOK 147.00NOK 214.3718
Feb ’24NOK 187.14
NOK 207.50
+10.9%
13.5%NOK 275.00NOK 147.00NOK 205.7318
Jan ’24NOK 194.70
NOK 209.50
+7.6%
13.6%NOK 275.00NOK 147.00NOK 214.5118
Dec ’23NOK 190.27
NOK 209.78
+10.3%
13.7%NOK 275.00NOK 147.00NOK 206.4318

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 Analysis2024/12/22 00:26
End of Day Share Price 2024/12/20 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

DNB Bank ASA is covered by 43 analysts. 14 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Fridtjof BerentsArctic Securities ASA
Namita SamtaniBarclays
Namita SamtaniBarclays