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DNB

LSE:0O84
Snowflake Description

Acceptable track record with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
0O84
LSE
NOK268B
Market Cap
  1. Home
  2. GB
  3. Banks
Company description

DNB ASA provides various banking products and services for retail and corporate customers in Norway and internationally. The last earnings update was 43 days ago. More info.


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0O84 Share Price and Events
7 Day Returns
0.5%
LSE:0O84
2.3%
GB Banks
1.9%
GB Market
1 Year Returns
11.5%
LSE:0O84
-7.8%
GB Banks
2.5%
GB Market
0O84 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
DNB (0O84) 0.5% -0% 7.4% 11.5% 56.7% 62.9%
GB Banks 2.3% 3.6% 4.4% -7.8% 16.1% -12.3%
GB Market 1.9% 3% 7.9% 2.5% 15.6% 6.8%
1 Year Return vs Industry and Market
  • 0O84 outperformed the Banks industry which returned -7.8% over the past year.
  • 0O84 outperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned 2.5% over the past year.
Price Volatility
0O84
Industry
5yr Volatility vs Market

0O84 Value

 Is DNB undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of DNB to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for DNB.

LSE:0O84 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 16 analysts.
= Stable Book Value * Return on Equity
= NOK145.30 * 11.4%
NOK16.54
Book Value of Equity per Share Weighted future Book Value estimates from 12 analysts. NOK145.30
Discount Rate (Cost of Equity) See below 13.1%
Perpetual Growth Rate 10-Year GB Government Bond Rate 1.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for LSE:0O84
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.59
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.593 (1 + (1- 23%) (422.36%))
2.019
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (2 * 5.96%)
13.15%

Discounted Cash Flow Calculation for LSE:0O84 using Excess Returns Model Model

The calculations below outline how an intrinsic value for DNB is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

LSE:0O84 Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (11.4% – 13.15%) * NOK145.30)
NOK-2.56
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= NOK-2.56 / (13.15% - 1.23%)
NOK-21.48
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= NOK145.30 + NOK-21.48
NOK123.82
LSE:0O84 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in LSE:0O84 represents 0.98903x of OB:DNB
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.98903x
Value per Share
(Listing Adjusted, NOK)
= Value per Share (NOK) x Listing Adjustment Factor
= NOK 123.82 x 0.98903
NOK122.46
Value per share (NOK) From above. NOK122.46
Current discount Discount to share price of NOK166.85
= -1 x (NOK166.85 - NOK122.46) / NOK122.46
-36.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of DNB is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for DNB's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are DNB's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
LSE:0O84 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in NOK NOK14.69
OB:DNB Share Price ** OB (2019-04-18) in NOK NOK168.7
United Kingdom of Great Britain and Northern Ireland Banks Industry PE Ratio Median Figure of 15 Publicly-Listed Banks Companies 10.35x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 796 Publicly-Listed Companies 16.29x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of DNB.

LSE:0O84 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= OB:DNB Share Price ÷ EPS (both in NOK)

= 168.7 ÷ 14.69

11.49x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • DNB is overvalued based on earnings compared to the GB Banks industry average.
  • DNB is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does DNB's expected growth come at a high price?
Raw Data
LSE:0O84 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 11.49x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 17 Analysts
2%per year
United Kingdom of Great Britain and Northern Ireland Banks Industry PEG Ratio Median Figure of 14 Publicly-Listed Banks Companies 0.86x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 563 Publicly-Listed Companies 1.47x

*Line of best fit is calculated by linear regression .

LSE:0O84 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 11.49x ÷ 2%

5.86x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • DNB is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on DNB's assets?
Raw Data
LSE:0O84 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in NOK NOK140.47
OB:DNB Share Price * OB (2019-04-18) in NOK NOK168.7
United Kingdom of Great Britain and Northern Ireland Banks Industry PB Ratio Median Figure of 16 Publicly-Listed Banks Companies 0.88x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,365 Publicly-Listed Companies 1.51x
LSE:0O84 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= OB:DNB Share Price ÷ Book Value per Share (both in NOK)

= 168.7 ÷ 140.47

1.2x

* Primary Listing of DNB.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • DNB is overvalued based on assets compared to the GB Banks industry average.
X
Value checks
We assess DNB's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. DNB has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

0O84 Future Performance

 How is DNB expected to perform in the next 1 to 3 years based on estimates from 17 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is DNB expected to grow at an attractive rate?
  • DNB's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
  • DNB's earnings growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
  • DNB's revenue growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
LSE:0O84 Future Growth Rates Data Sources
Data Point Source Value (per year)
LSE:0O84 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 17 Analysts 2%
LSE:0O84 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 17 Analysts 4%
United Kingdom of Great Britain and Northern Ireland Banks Industry Earnings Growth Rate Market Cap Weighted Average 12.6%
United Kingdom of Great Britain and Northern Ireland Banks Industry Revenue Growth Rate Market Cap Weighted Average 4.5%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 10.9%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
LSE:0O84 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 17 Analyst Estimates (S&P Global) See Below
All numbers in NOK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
LSE:0O84 Future Estimates Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 58,016 27,010 1
2021-12-31 58,020 25,625 14
2020-12-31 56,038 24,346 17
2019-12-31 54,191 25,251 16
LSE:0O84 Past Financials Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income *
2018-12-31 51,035 31,024 23,527
2018-09-30 50,561 -16,025 22,919
2018-06-30 50,891 75,613 22,834
2018-03-31 50,310 -223 21,977
2017-12-31 49,451 -24,657 20,866
2017-09-30 47,449 213,418 19,849
2017-06-30 44,892 189,301 18,403
2017-03-31 43,607 209,324 17,853
2016-12-31 44,721 215,372 18,652
2016-09-30 45,341 17,718 20,155
2016-06-30 48,930 -46,371 22,465
2016-03-31 50,104 -119,866 22,989

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • DNB's earnings are expected to grow by 2% yearly, however this is not considered high growth (20% yearly).
  • DNB's revenue is expected to grow by 4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
LSE:0O84 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 17 Analyst Estimates (S&P Global) See Below

All data from DNB Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:0O84 Future Estimates Data
Date (Data in NOK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31 17.14 18.50 15.93 12.00
2020-12-31 15.84 17.53 14.30 15.00
2019-12-31 16.14 18.00 13.90 14.00
LSE:0O84 Past Financials Data
Date (Data in NOK Millions) EPS *
2018-12-31 14.69
2018-09-30 14.24
2018-06-30 14.12
2018-03-31 13.55
2017-12-31 12.84
2017-09-30 12.20
2017-06-30 11.31
2017-03-31 10.96
2016-12-31 11.46
2016-09-30 12.39
2016-06-30 13.81
2016-03-31 14.13

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • DNB is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess DNB's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
DNB has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

0O84 Past Performance

  How has DNB performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare DNB's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • DNB's year on year earnings growth rate has been positive over the past 5 years.
  • DNB's 1-year earnings growth exceeds its 5-year average (12.8% vs 1.4%)
  • DNB's earnings growth has not exceeded the GB Banks industry average in the past year (12.8% vs 42.2%).
Earnings and Revenue History
DNB's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from DNB Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:0O84 Past Revenue, Cash Flow and Net Income Data
Date (Data in NOK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 51,035.00 23,527.00 15,413.00
2018-09-30 50,561.00 22,919.00 15,086.00
2018-06-30 50,891.00 22,834.00 15,230.00
2018-03-31 50,310.00 21,977.00 15,304.00
2017-12-31 49,451.00 20,866.00 15,483.00
2017-09-30 47,449.00 19,849.00 14,965.00
2017-06-30 44,892.00 18,403.00 14,885.00
2017-03-31 43,607.00 17,853.00 14,764.00
2016-12-31 44,721.00 18,652.00 14,930.00
2016-09-30 45,341.00 20,155.00 14,929.00
2016-06-30 48,930.00 22,465.00 15,073.00
2016-03-31 50,104.00 22,989.00 15,281.00
2015-12-31 51,781.00 24,439.00 15,123.00
2015-09-30 51,592.00 22,767.00 14,932.00
2015-06-30 50,367.00 22,134.00 14,775.00
2015-03-31 49,439.00 21,712.00 14,614.00
2014-12-31 47,774.00 20,639.00 14,464.00
2014-09-30 48,338.00 21,332.00 14,540.00
2014-06-30 47,501.00 20,592.00 14,443.00
2014-03-31 47,271.00 19,833.00 14,420.00
2013-12-31 44,586.00 17,507.00 14,340.00
2013-09-30 40,738.00 15,706.00 14,470.00
2013-06-30 39,480.00 14,359.00 14,541.00
2013-03-31 40,858.00 15,073.00 14,572.00
2012-12-31 38,536.00 13,696.00 14,630.00
2012-09-30 42,017.00 13,945.00 14,650.00
2012-06-30 40,427.00 12,872.00 14,452.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • DNB has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • DNB used its assets more efficiently than the GB Banks industry average last year based on Return on Assets.
  • Unable to establish if DNB improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess DNB's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
DNB has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

0O84 Health

 How is DNB's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of DNB's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from DNB Company Filings, last reported 3 months ago.

LSE:0O84 Past Debt and Equity Data
Date (Data in NOK Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 223,966.00 1,131,824.00 325,986.00
2018-09-30 215,405.00 1,157,469.00 452,318.00
2018-06-30 210,797.00 1,242,620.00 542,942.00
2018-03-31 218,138.00 1,145,543.00 401,499.00
2017-12-31 216,897.00 1,144,612.00 290,687.00
2017-09-30 210,679.00 1,138,641.00 495,430.00
2017-06-30 207,069.00 1,115,120.00 442,396.00
2017-03-31 210,707.00 1,246,023.00 547,005.00
2016-12-31 206,423.00 1,139,833.00 381,776.00
2016-09-30 193,935.00 1,161,625.00 387,368.00
2016-06-30 191,279.00 1,186,966.00 377,531.00
2016-03-31 193,916.00 1,193,999.00 420,580.00
2015-12-31 190,425.00 1,152,886.00 232,906.00
2015-09-30 181,890.00 1,283,307.00 409,223.00
2015-06-30 173,860.00 1,173,648.00 346,996.00
2015-03-31 174,429.00 1,337,201.00 551,960.00
2014-12-31 158,723.00 1,241,531.00 303,750.00
2014-09-30 153,072.00 1,064,617.00 373,261.00
2014-06-30 147,879.00 1,092,533.00 323,828.00
2014-03-31 146,941.00 1,137,064.00 505,682.00
2013-12-31 141,944.00 1,083,941.00 317,531.00
2013-09-30 136,477.00 1,068,667.00 494,667.00
2013-06-30 131,795.00 1,103,947.00 584,587.00
2013-03-31 130,807.00 1,109,676.00 509,017.00
2012-12-31 127,492.00 1,100,806.00 458,001.00
2012-09-30 124,464.00 1,113,461.00 473,260.00
2012-06-30 120,831.00 1,110,259.00 508,096.00
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • DNB has an acceptable proportion of non-loan assets held.
  • DNB's liabilities are made up of primarily higher risk sources of funding.
  • DNB has advanced significantly more loans than the customer deposits it holds (i.e. bank has borrowed additional funds to lend).
  • DNB's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • DNB has a low allowance for bad loans.
  • DNB has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess DNB's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. DNB has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

0O84 Dividends

 What is DNB's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.89%
Current annual income from DNB dividends. Estimated to be 5.62% next year.
If you bought NOK2,000 of DNB shares you are expected to receive NOK98 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • DNB's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.02%).
  • DNB's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.19%).
Upcoming dividend payment

Purchase DNB before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
LSE:0O84 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 17 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Banks Industry Average Dividend Yield Market Cap Weighted Average of 14 Stocks 4.9%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 705 Stocks 4.2%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 5.2%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

LSE:0O84 Future Dividends Estimate Data
Date (Data in NOK) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 9.80 1.00
2021-12-31 10.27 16.00
2020-12-31 9.44 19.00
2019-12-31 8.86 19.00
LSE:0O84 Past Annualized Dividends Data
Date (Data in NOK) Dividend per share (annual) Avg. Yield (%)
2019-02-07 8.250 5.094
2018-02-06 7.100 4.552
2017-02-02 5.700 3.847
2016-04-27 4.500 4.113
2015-03-12 3.800 3.291
2015-02-05 3.800 3.059
2014-03-13 2.700 2.413
2014-02-05 2.700 2.506
2013-02-07 2.100 2.186
2012-07-12 2.000 2.861
2012-03-15 2.000 3.233
2012-02-09 2.000 2.842
2011-02-10 4.000 5.813
2010-03-18 1.750 2.375
2010-02-11 1.750 2.637
2009-10-22 0.000 0.000
2009-07-10 0.000 0.000
2009-05-06 0.000 0.000
2009-04-20 0.000 0.000

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • DNB has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but DNB only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of DNB's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.7x coverage).
X
Income/ dividend checks
We assess DNB's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can DNB afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. DNB has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

0O84 Management

 What is the CEO of DNB's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Rune Bjerke
COMPENSATION NOK9,032,000
AGE 58
TENURE AS CEO 12.3 years
CEO Bio

Mr. Rune Bjerke has been the Group Chief Executive Officer of DNB Bank ASA and DNB ASA since January 02, 2007. Mr. Bjerke is Vice Chairman of the Board at Fremtind Forsikring AS. Mr. Bjerke serves as the Chief Executive Officer of DNB Group. He served as the Chief Executive Officer and President of Hafslund ASA from August 2000 to October 27, 2006. He served as the President and Chief Executive Officer of Scancem International, where he previously headed the international cement company’s Asia trading activities and was its Chief Financial Officer. He has also served as Finance Commissioner of the City of Oslo and advisor to Norway's Ministry of Petroleum and Energy. He served as the Chairman of DNB Livsforsikring ASA (formerly Vital Forsikring ASA) from January 2007 to February 13, 2013 and also served as its Director since January 2007. He has been a Member of Corporate Assembly at Statoil ASA since 2007. He served as a Member of Corporate Assembly at Orkla ASA. He served as a Director of DnB ASA. He served as a Director at DNB Bank ASA until June 2007. He served as a Director of Tomra Systems ASA since 2004. He served as a Member of Corporate Assembly at Aker Floating Production ASA and STX Europe ASA. He served as a Director of REC Silicon ASA until December 22, 2006. He served as a Director of DnB NOR Bank ASA. He served as a Director of Renewable Energy Corporation (REC) until December 22, 2006. He served as a Director of several companies, including Storebrand ASA and Energibedriftenes landsforening (EBL). He served as a Member of the Supervisory Board at Tryg Vesta A/s until July 3, 2006. He is a Member of Election Committee at Aker Floating Production ASA. He served as a Member of Nomination Committee at Akastor ASA and Havfisk ASA. He served as Member of Nomination Committee at STX Europe ASA until March 29, 2007. He served as a Member of Nomination Committee at Aker Seafoods ASA, American Shipping Company ASA and Aker Solutions ASA. He serves as a Member of Nomination Committee of Aker Kvaerner ASA. Mr. Bjerke has a B.A. Degree in Social Economics from the University of Oslo and holds a Masters Degree in Public Administration (MPA) from the Harvard University.

CEO Compensation
  • Rune's compensation has been consistent with company performance over the past year.
  • Rune's remuneration is lower than average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure

Average tenure and age of the DNB management team in years:

2.4
Average Tenure
50
Average Age
  • The tenure for the DNB management team is about average.
Management Team

Rune Bjerke

TITLE
Group Chief Executive Officer
COMPENSATION
NOK9M
AGE
58
TENURE
12.3 yrs

Kjerstin Braathen

TITLE
CFO & Group Executive Vice President of Group Finance
COMPENSATION
NOK6M
AGE
48
TENURE
2.1 yrs

Solveig Hellebust

TITLE
Group Executive Vice President of People & Operations
COMPENSATION
NOK5M
AGE
51
TENURE
2.3 yrs

Mirella Wassiluk

TITLE
Group Executive Vice President of Compliance
COMPENSATION
NOK7M
AGE
49
TENURE
1 yrs

Thomas Midteide

TITLE
Group Executive Vice President of Media & Marketing
COMPENSATION
NOK5M
AGE
44
TENURE
6.3 yrs

Harald Serck-Hanssen

TITLE
Group Executive Vice President of Large Corporates & International
COMPENSATION
NOK6M
AGE
53
TENURE
6.3 yrs

Ottar Ertzeid

TITLE
Group Executive Vice President of Markets
COMPENSATION
NOK14M
AGE
53
TENURE
16.3 yrs

Benedicte Fasmer

TITLE
Group Executive Vice President of Corporate Banking
COMPENSATION
NOK5M
AGE
53
TENURE
2.6 yrs

Ingjerd Cecilie Hafsteen Spiten

TITLE
Group Executive Vice President of Personal Banking
COMPENSATION
NOK5M
AGE
47
TENURE
1.3 yrs

Ida Lerner

TITLE
Group Executive Vice President of Risk Management
COMPENSATION
NOK6M
AGE
43
TENURE
1.3 yrs
Board of Directors Tenure

Average tenure and age of the DNB board of directors in years:

4.8
Average Tenure
58
Average Age
  • The tenure for the DNB board of directors is about average.
Board of Directors

Olaug Svarva

TITLE
Chairman of the Board
COMPENSATION
NOK718K
AGE
61
TENURE
1 yrs

Tore Rimmereid

TITLE
Vice Chairman of the Board
COMPENSATION
NOK536K
AGE
56
TENURE
7.3 yrs

Jaan Gjærum Semlitsch

TITLE
Director
COMPENSATION
NOK524K
AGE
47
TENURE
4.8 yrs

Carl Løvvik

TITLE
Employee Representative Director
COMPENSATION
NOK1M
AGE
66
TENURE
7.8 yrs

Vigdis Mathisen

TITLE
Employee Representative Director
COMPENSATION
NOK1M
AGE
60
TENURE
6.8 yrs

Berit Svendsen

TITLE
Director
COMPENSATION
NOK505K
AGE
55
TENURE
6.8 yrs

Karl-Christian Agerup

TITLE
Director
COMPENSATION
NOK364K
AGE
56
TENURE
2 yrs

Fjell Løvås

TITLE
Deputy Director
AGE
61
TENURE
3.3 yrs

Gunnar Reitan

TITLE
Director of Vital Forsikring
AGE
64

Stian Samuelsen

TITLE
Deputy Director
AGE
54
TENURE
3.3 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by DNB insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (NOK) Value (NOK)
07. Feb 19 Buy Jaan Gjærum Semlitsch Individual 07. Feb 19 07. Feb 19 9,000 NOK156.30 NOK1,406,700
13. Jul 18 Buy Ida Lerner Individual 13. Jul 18 13. Jul 18 700 NOK154.95 NOK108,465
27. Apr 18 Buy Rasmus Aage Figenschou Individual 27. Apr 18 27. Apr 18 1,246 NOK149.69 NOK186,516
27. Apr 18 Buy Mathias Bruvik Individual 27. Apr 18 27. Apr 18 722 NOK149.69 NOK108,077
27. Apr 18 Buy Hans Rønningen Individual 27. Apr 18 27. Apr 18 1,509 NOK149.69 NOK225,885
27. Apr 18 Buy Ida Lerner Individual 27. Apr 18 27. Apr 18 2,697 NOK149.69 NOK403,719
27. Apr 18 Buy Audun Moen Individual 27. Apr 18 27. Apr 18 1,296 NOK149.69 NOK194,000
27. Apr 18 Buy Kjerstin Braathen Individual 27. Apr 18 27. Apr 18 2,670 NOK149.69 NOK399,677
27. Apr 18 Buy Thomas Midteide Individual 27. Apr 18 27. Apr 18 1,887 NOK149.69 NOK282,468
27. Apr 18 Buy Harald Serck-Hanssen Individual 27. Apr 18 27. Apr 18 2,642 NOK149.69 NOK395,485
27. Apr 18 Buy Solveig Hellebust Individual 27. Apr 18 27. Apr 18 1,815 NOK149.69 NOK271,690
27. Apr 18 Buy Tom Rathke Individual 27. Apr 18 27. Apr 18 1,543 NOK149.69 NOK230,974
27. Apr 18 Buy Trond Bentestuen Individual 27. Apr 18 27. Apr 18 2,528 NOK149.69 NOK378,421
27. Apr 18 Buy Benedicte Fasmer Individual 27. Apr 18 27. Apr 18 1,997 NOK149.69 NOK298,934
27. Apr 18 Buy Rune Helland Individual 27. Apr 18 27. Apr 18 479 NOK149.69 NOK71,702
27. Apr 18 Buy Rune Bjerke Individual 27. Apr 18 27. Apr 18 4,246 NOK149.69 NOK635,591
27. Apr 18 Buy Ottar Ertzeid Individual 27. Apr 18 27. Apr 18 6,359 NOK149.69 NOK951,890
27. Apr 18 Buy Olaug Svarva Individual 27. Apr 18 27. Apr 18 7,000 NOK150.24 NOK1,051,680
X
Management checks
We assess DNB's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. DNB has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

0O84 News

Simply Wall St News

0O84 Company Info

Description

DNB ASA provides various banking products and services for retail and corporate customers in Norway and internationally. The company offers savings and investment products, including saving accounts, home savings products, equities, retirement savings, fixed rate deposits, exchange traded products, bonds and commercial papers, and asset management services; and loans, such as home mortgages, car and consumer loans, trade finance, and export financing, as well as overdraft facilities, bank guarantees, and leasing and factoring services. It also provides various cards; a range of insurance products comprising car, boat, motor vehicle, household contents, home, holiday home, travel, and life insurance products, as well as pet insurance for cats and dogs; and pension plans. In addition, the company offers investment banking advisory and financing services, such as mergers and acquisitions, and equity and debt capital markets for corporations and private equity firms; and foreign exchange and treasury, cash management, research, commodities, equities, corporate finance, interest rates, securities, real estate broking, and Internet and mobile banking services. It offers its products and services to various sectors, including energy; financial institutions; healthcare; manufacturing; packaging and forest products; seafood; shipping, offshore, and logistics; and telecom, media, and technology. The company distributes its products and services through its branches, in-store postal and banking outlets, and post office counters. DNB ASA was founded in 1822 and is headquartered in Oslo, Norway.

Details
Name: DNB ASA
0O84
Exchange: LSE
Founded: 1822
NOK267,977,192,767
1,588,483,656
Website: http://www.dnb.no
Address: DNB ASA
Dronning Eufemias gate 30,
Bjørvika,
Oslo,
Oslo, 0191,
Norway
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OB DNB Common Shares Oslo Bors NO NOK 02. Jan 1992
OTCPK DNBH.F Common Shares Pink Sheets LLC US USD 02. Jan 1992
DB NBA Common Shares Deutsche Boerse AG DE EUR 02. Jan 1992
LSE 0O84 Common Shares London Stock Exchange GB NOK 02. Jan 1992
BATS-CHIXE DNBO Common Shares BATS 'Chi-X Europe' GB NOK 02. Jan 1992
OTCPK DNHB.Y SPONSORED ADR Pink Sheets LLC US USD 16. Aug 2010
Number of employees
Current staff
Staff numbers
9,225
DNB employees.
Industry
Diversified Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/19 21:08
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/18
Last earnings filing: 2019/03/07
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.