SpareBank 1 Sør-Norge Valuation
Is 0Q57 undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
2/6Valuation 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 0Q57 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: 0Q57 (NOK145) is trading below our estimate of fair value (NOK311.37)
Significantly Below Fair Value: 0Q57 is trading below fair value by more than 20%.
Key Valuation Metric
Which metric is best to use when looking at relative valuation for 0Q57?
Key metric: As 0Q57 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.
| What is 0Q57's PE Ratio? | |
|---|---|
| PE Ratio | 7.5x |
| Earnings | NOK 5.05b |
| Market Cap | NOK 38.09b |
| Key Statistics | |
|---|---|
| Enterprise Value/Revenue | n/a |
| Enterprise Value/EBITDA | n/a |
| PEG Ratio | 1.1x |
Price to Earnings Ratio vs Peers
How does 0Q57's PE Ratio compare to its peers?
| Company | Forward PE | Estimated Growth | Market Cap |
|---|---|---|---|
| Peer Average | 4.5x | ||
HSBK Halyk Bank of Kazakhstan | 3.3x | n/a | US$5.2b |
TBCG TBC Bank Group | 4.9x | 16.8% | UK£1.7b |
BGEO Bank of Georgia Group | 3.2x | -3.2% | UK£2.2b |
TCS TCS Group Holding | 6.5x | n/a | US$5.1b |
0Q57 SpareBank 1 Sør-Norge | 7.5x | 6.9% | NOK 38.1b |
Price-To-Earnings vs Peers: 0Q57 is expensive based on its Price-To-Earnings Ratio (7.5x) compared to the peer average (4.5x).
Price to Earnings Ratio vs Industry
How does 0Q57'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 | |
|---|---|---|---|
Price-To-Earnings vs Industry: 0Q57 is expensive based on its Price-To-Earnings Ratio (7.5x) compared to the European Banks industry average (7.3x).
Price to Earnings Ratio vs Fair Ratio
What is 0Q57'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.
| Fair Ratio | |
|---|---|
| Current PE Ratio | 7.5x |
| Fair PE Ratio | 5.4x |
Price-To-Earnings vs Fair Ratio: 0Q57 is expensive based on its Price-To-Earnings Ratio (7.5x) compared to the estimated Fair Price-To-Earnings Ratio (5.4x).
Analyst Price Targets
What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?
| Date | Share Price | Average 1Y Price Target | Dispersion | High | Low | 1Y Actual price | Analysts |
|---|---|---|---|---|---|---|---|
| Current | NOK 145.00 | NOK 161.00 +11.0% | 4.1% | NOK 170.00 | NOK 150.00 | n/a | 5 |
| Nov ’25 | NOK 145.80 | NOK 161.00 +10.4% | 4.1% | NOK 170.00 | NOK 150.00 | n/a | 5 |
| Oct ’25 | NOK 133.50 | NOK 157.00 +17.6% | 2.5% | NOK 160.00 | NOK 150.00 | n/a | 5 |
| Sep ’25 | NOK 136.00 | NOK 157.00 +15.4% | 2.5% | NOK 160.00 | NOK 150.00 | n/a | 5 |
| Aug ’25 | NOK 140.20 | NOK 155.60 +11.0% | 3.5% | NOK 160.00 | NOK 148.00 | n/a | 5 |
| Jul ’25 | NOK 132.40 | NOK 153.60 +16.0% | 3.4% | NOK 160.00 | NOK 148.00 | n/a | 5 |
| Jun ’25 | NOK 135.60 | NOK 153.20 +13.0% | 3.2% | NOK 160.00 | NOK 148.00 | n/a | 5 |
| May ’25 | NOK 134.80 | NOK 152.20 +12.9% | 2.4% | NOK 158.00 | NOK 148.00 | n/a | 5 |
| Apr ’25 | NOK 135.99 | NOK 151.20 +11.2% | 3.1% | NOK 158.00 | NOK 145.00 | n/a | 5 |
| Mar ’25 | NOK 129.49 | NOK 152.20 +17.5% | 4.1% | NOK 163.00 | NOK 145.00 | n/a | 5 |
| Feb ’25 | NOK 127.91 | NOK 149.80 +17.1% | 3.9% | NOK 161.00 | NOK 145.00 | n/a | 5 |
| Jan ’25 | NOK 128.68 | NOK 148.20 +15.2% | 4.8% | NOK 161.00 | NOK 140.00 | n/a | 5 |
| Dec ’24 | NOK 118.70 | NOK 148.20 +24.9% | 4.8% | NOK 161.00 | NOK 140.00 | n/a | 5 |
| Nov ’24 | NOK 120.50 | NOK 149.20 +23.8% | 4.2% | NOK 161.00 | NOK 145.00 | NOK 145.80 | 5 |
| Oct ’24 | NOK 123.24 | NOK 145.50 +18.1% | 6.5% | NOK 161.00 | NOK 129.00 | NOK 133.50 | 6 |
| Sep ’24 | NOK 128.50 | NOK 145.33 +13.1% | 6.3% | NOK 160.00 | NOK 129.00 | NOK 136.00 | 6 |
| Aug ’24 | NOK 130.80 | NOK 143.60 +9.8% | 5.7% | NOK 160.00 | NOK 138.00 | NOK 140.20 | 5 |
| Jul ’24 | NOK 130.76 | NOK 143.60 +9.8% | 5.7% | NOK 160.00 | NOK 138.00 | NOK 132.40 | 5 |
| Jun ’24 | NOK 118.62 | NOK 142.40 +20.0% | 4.1% | NOK 154.00 | NOK 138.00 | NOK 135.60 | 5 |
| May ’24 | NOK 124.56 | NOK 141.40 +13.5% | 4.6% | NOK 154.00 | NOK 135.00 | NOK 134.80 | 5 |
| Apr ’24 | NOK 120.85 | NOK 141.40 +17.0% | 4.6% | NOK 154.00 | NOK 135.00 | NOK 135.99 | 5 |
| Mar ’24 | NOK 130.50 | NOK 140.40 +7.6% | 3.3% | NOK 149.00 | NOK 135.00 | NOK 129.49 | 5 |
| Feb ’24 | NOK 115.51 | NOK 136.80 +18.4% | 4.8% | NOK 145.00 | NOK 128.00 | NOK 127.91 | 5 |
| Jan ’24 | NOK 121.20 | NOK 136.80 +12.9% | 4.8% | NOK 145.00 | NOK 128.00 | NOK 128.68 | 5 |
| Dec ’23 | NOK 119.06 | NOK 136.80 +14.9% | 4.8% | NOK 145.00 | NOK 128.00 | NOK 118.70 | 5 |
| Nov ’23 | NOK 107.01 | NOK 131.60 +23.0% | 11.3% | NOK 145.00 | NOK 104.00 | NOK 120.50 | 5 |
Analyst Forecast: Target price is less than 20% higher than the current share price.
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