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Sbanken

LSE:0RD6
Snowflake Description

Adequate balance sheet with questionable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
0RD6
LSE
NOK9B
Market Cap
  1. Home
  2. GB
  3. Banks
Company description

Sbanken ASA, a digital bank that provides various banking products to retail customers through its banking platform in Norway. The last earnings update was 29 days ago. More info.


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0RD6 Share Price and Events
7 Day Returns
0.9%
LSE:0RD6
1%
GB Banks
0.6%
GB Market
1 Year Returns
16.1%
LSE:0RD6
-8.7%
GB Banks
1.1%
GB Market
0RD6 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Sbanken (0RD6) 0.9% 6.9% 11.7% 16.1% 84.7% -
GB Banks 1% 4.3% 4.4% -8.7% 17% -11.2%
GB Market 0.6% 2.6% 6.9% 1.1% 15.6% 6.2%
1 Year Return vs Industry and Market
  • 0RD6 outperformed the Banks industry which returned -8.7% over the past year.
  • 0RD6 outperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned 1.1% over the past year.
Price Volatility
0RD6
Industry
5yr Volatility vs Market

0RD6 Value

 Is Sbanken 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 Sbanken 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 Sbanken.

LSE:0RD6 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 5 analysts.
= Stable Book Value * Return on Equity
= NOK65.98 * 13.5%
NOK8.93
Book Value of Equity per Share Weighted future Book Value estimates from 5 analysts. NOK65.98
Discount Rate (Cost of Equity) See below 12.4%
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:0RD6
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%) (376%))
1.878
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.88
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (1.878 * 5.96%)
12.42%

Discounted Cash Flow Calculation for LSE:0RD6 using Excess Returns Model Model

The calculations below outline how an intrinsic value for Sbanken 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:0RD6 Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (13.5% – 12.42%) * NOK65.98)
NOK0.73
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= NOK0.73 / (12.42% - 1.23%)
NOK6.53
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= NOK65.98 + NOK6.53
NOK72.52
LSE:0RD6 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in LSE:0RD6 represents 0.99253x of OB:SBANK
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.99253x
Value per Share
(Listing Adjusted, NOK)
= Value per Share (NOK) x Listing Adjustment Factor
= NOK 72.52 x 0.99253
NOK71.97
Value per share (NOK) From above. NOK71.97
Current discount Discount to share price of NOK86.35
= -1 x (NOK86.35 - NOK71.97) / NOK71.97
-20%

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

  • The current share price of Sbanken 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 Sbanken's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Sbanken's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
LSE:0RD6 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in NOK NOK6.53
OB:SBANK Share Price ** OB (2019-04-18) in NOK NOK87
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 797 Publicly-Listed Companies 16.29x

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

** Primary Listing of Sbanken.

LSE:0RD6 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 87 ÷ 6.53

13.33x

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

  • Sbanken is overvalued based on earnings compared to the GB Banks industry average.
  • Sbanken is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Sbanken's expected growth come at a high price?
Raw Data
LSE:0RD6 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 13.33x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
9.9%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 564 Publicly-Listed Companies 1.48x

*Line of best fit is calculated by linear regression .

LSE:0RD6 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 13.33x ÷ 9.9%

1.35x

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

  • Sbanken is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Sbanken's assets?
Raw Data
LSE:0RD6 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in NOK NOK58.01
OB:SBANK Share Price * OB (2019-04-18) in NOK NOK87
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 1,367 Publicly-Listed Companies 1.51x
LSE:0RD6 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 87 ÷ 58.01

1.5x

* Primary Listing of Sbanken.

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

  • Sbanken is overvalued based on assets compared to the GB Banks industry average.
X
Value checks
We assess Sbanken'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. Sbanken 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.

0RD6 Future Performance

 How is Sbanken expected to perform in the next 1 to 3 years based on estimates from 5 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
9.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Sbanken expected to grow at an attractive rate?
  • Sbanken's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
  • Sbanken's earnings growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
  • Sbanken's revenue growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
LSE:0RD6 Future Growth Rates Data Sources
Data Point Source Value (per year)
LSE:0RD6 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 9.9%
LSE:0RD6 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 9%
United Kingdom of Great Britain and Northern Ireland Banks Industry Earnings Growth Rate Market Cap Weighted Average 12.7%
United Kingdom of Great Britain and Northern Ireland Banks Industry Revenue Growth Rate Market Cap Weighted Average 4.6%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 11%
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:0RD6 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in NOK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
LSE:0RD6 Future Estimates Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 2,090 935 5
2020-12-31 1,957 865 5
2019-12-31 1,804 770 5
LSE:0RD6 Past Financials Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income *
2018-12-31 1,581 -5,109 697
2018-09-30 1,604 -4,610 703
2018-06-30 1,579 -6,301 690
2018-03-31 1,500 -2,857 635
2017-12-31 1,492 -8,395 634
2017-09-30 1,421 -7,348 611
2017-06-30 1,401 -7,694 601
2017-03-31 1,595 -9,368 807
2016-12-31 1,535 -4,944 768
2016-09-30 1,490 -7,060 725
2016-06-30 1,424 -7,052 656
2016-03-31 1,140 -2,561 385

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Sbanken's earnings are expected to grow by 9.9% yearly, however this is not considered high growth (20% yearly).
  • Sbanken's revenue is expected to grow by 9% 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:0RD6 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 5 Analyst Estimates (S&P Global) See Below

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

LSE:0RD6 Future Estimates Data
Date (Data in NOK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 8.69 9.39 7.82 5.00
2020-12-31 8.03 8.72 7.26 5.00
2019-12-31 7.09 7.72 6.61 5.00
LSE:0RD6 Past Financials Data
Date (Data in NOK Millions) EPS *
2018-12-31 6.53
2018-09-30 6.57
2018-06-30 6.46
2018-03-31 5.95
2017-12-31 5.94
2017-09-30 5.72
2017-06-30 5.63
2017-03-31 7.57
2016-12-31 7.21
2016-09-30 6.84
2016-06-30 6.29
2016-03-31 3.75

*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.
  • Sbanken is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Sbanken'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.
Sbanken has a total score of 2/6, 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.

0RD6 Past Performance

  How has Sbanken 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 Sbanken'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.
  • Sbanken has delivered over 20% year on year earnings growth in the past 5 years.
  • Sbanken's 1-year earnings growth is less than its 5-year average (9.9% vs 20.4%)
  • Sbanken's earnings growth has not exceeded the GB Banks industry average in the past year (9.9% vs 42.2%).
Earnings and Revenue History
Sbanken'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 Sbanken Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:0RD6 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 1,580.96 697.34 598.09
2018-09-30 1,603.79 702.58 576.29
2018-06-30 1,578.71 689.88 565.41
2018-03-31 1,500.44 635.49 545.82
2017-12-31 1,492.14 634.37 544.26
2017-09-30 1,421.14 610.82 518.84
2017-06-30 1,401.02 600.91 515.52
2017-03-31 1,594.80 806.70 515.69
2016-12-31 1,534.79 768.32 508.14
2016-09-30 1,490.45 724.86 450.63
2016-06-30 1,424.02 655.65 479.50
2016-03-31 1,139.88 385.00 483.21
2015-12-31 1,087.17 370.17 454.18
2015-09-30 1,029.31 336.18 541.90
2015-06-30 1,003.94 362.75 486.70
2015-03-31 1,003.45 383.42 459.83
2014-12-31 979.82 371.90 461.75
2014-09-30 901.45 354.26 425.80
2014-06-30 837.60 303.00 432.61
2014-03-31 768.79 252.81 424.71
2013-12-31 698.57 199.32 420.95
2013-09-30 676.14 187.05 419.47
2013-06-30 655.14 176.05 409.47
2013-03-31 627.14 160.05 406.47
2012-12-31 625.14 157.05 406.47

*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.
  • Sbanken has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Sbanken used its assets more efficiently than the GB Banks industry average last year based on Return on Assets.
  • Unable to establish if Sbanken 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 Sbanken'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.
Sbanken has a total score of 2/6, 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.

0RD6 Health

 How is Sbanken'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 Sbanken'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 Sbanken Company Filings, last reported 3 months ago.

LSE:0RD6 Past Debt and Equity Data
Date (Data in NOK Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 6,199.37 34,959.24 977.24
2018-09-30 6,049.29 34,504.99 11,942.83
2018-06-30 5,891.12 34,642.02 15,387.75
2018-03-31 5,776.52 31,402.72 11,510.41
2017-12-31 5,606.29 30,212.81 2,033.52
2017-09-30 5,444.81 28,521.61 1,638.71
2017-06-30 5,281.73 28,146.63 2,721.20
2017-03-31 5,288.18 26,204.45 685.02
2016-12-31 5,014.92 20,180.11 589.79
2016-09-30 4,852.80 19,361.45 283.58
2016-06-30 4,699.51 18,484.35 1,185.70
2016-03-31 4,406.72 16,690.91 544.83
2015-12-31 4,286.01 15,502.99 1,165.59
2015-09-30 3,348.28 13,212.86 586.24
2015-06-30 3,100.90 14,336.74 3,261.57
2015-03-31 3,000.00 14,400.00
2014-12-31 2,679.68 16,142.77 1,490.85
2014-09-30 2,300.00 14,400.00
2014-06-30 2,100.00 13,700.00
2014-03-31 2,000.00 14,400.00
2013-12-31 1,653.18 11,481.14 593.66
2013-09-30 1,400.00 6,500.00
2013-06-30
2013-03-31 1,302.27 961.19 351.25
2012-12-31 1,292.57 961.19 806.19
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.
  • Sbanken has an acceptable proportion of non-loan assets held.
  • Sbanken's liabilities are made up of primarily low risk sources of funding.
  • Sbanken has advanced significantly more loans than the customer deposits it holds (i.e. bank has borrowed additional funds to lend).
  • Sbanken's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • Sbanken has a low allowance for bad loans.
  • Sbanken has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess Sbanken'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. Sbanken has a total score of 4/6, 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.

0RD6 Dividends

 What is Sbanken'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
2.01%
Current annual income from Sbanken dividends. Estimated to be 2.91% next year.
If you bought NOK2,000 of Sbanken shares you are expected to receive NOK40 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?
  • Sbanken's pays a lower dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.02%).
  • Sbanken'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 Sbanken 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:0RD6 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 5 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:0RD6 Future Dividends Estimate Data
Date (Data in NOK) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 3.06 5.00
2020-12-31 2.61 5.00
2019-12-31 1.94 5.00
LSE:0RD6 Past Annualized Dividends Data
Date (Data in NOK) Dividend per share (annual) Avg. Yield (%)
2019-02-13 1.750 2.181
2018-04-27 0.750 0.922
2017-02-09 1.500 1.897

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

  • Sbanken 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 Sbanken only paid a dividend in the past 2 years.
Current Payout to shareholders
What portion of Sbanken's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.8x coverage).
X
Income/ dividend checks
We assess Sbanken'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 Sbanken afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Sbanken has a total score of 2/6, see the detailed checks below.


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

0RD6 Management

 What is the CEO of Sbanken'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
Magnar Øyhovden
COMPENSATION NOK3,804,000
AGE 50
TENURE AS CEO 9.3 years
CEO Bio

Mr. Magnar Erik Øyhovden has been Chief Executive Officer of Skandiabanken ASA since 2010. Mr. Øyhovden joined the Bank in 2006, and was promoted to Managing Director in 2010. He has nine years tenure in the banking industry, and he served as the Chief Executive Officer of COOP Power Holding A/S. He holds a degree in Business Administration from Norwegian School of Economics (NHH). He owns 9 815 shares in Skandiabanken ASA.

CEO Compensation
  • Magnar's compensation has been consistent with company performance over the past year.
  • Magnar'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 Sbanken management team in years:

3.6
Average Tenure
50
Average Age
  • The tenure for the Sbanken management team is about average.
Management Team

Magnar Øyhovden

TITLE
Chief Executive Officer
COMPENSATION
NOK4M
AGE
50
TENURE
9.3 yrs

Henning Nordgulen

TITLE
CFO & Deputy CEO
COMPENSATION
NOK3M
AGE
53
TENURE
3.7 yrs

Anne-Christine Fiksdal

TITLE
Chief Operating Officer
COMPENSATION
NOK2M
AGE
45
TENURE
1.3 yrs

Geir Hansen

TITLE
Head of Strategy
COMPENSATION
NOK2M
AGE
52
TENURE
9.3 yrs

Eirik Christensen

TITLE
Chief Risk Officer
COMPENSATION
NOK2M
AGE
40
TENURE
3.5 yrs

Christoffer Hernæs

TITLE
Chief Digital Officer
COMPENSATION
NOK2M
AGE
37
TENURE
2.3 yrs

Svein Frøystad

TITLE
Head of IT Governance & Employee Representative Director
AGE
53

Arlin Mæland

TITLE
Chief Compliance Officer

Ann Lerstad

TITLE
Head of Legal

Ole Larsen

TITLE
Chief Communication Officer
Board of Directors Tenure

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

2.8
Average Tenure
53
Average Age
  • The average tenure for the Sbanken board of directors is less than 3 years, this suggests a new board.
Board of Directors

Lars Midby

TITLE
Chairman of the Board
COMPENSATION
NOK731K
AGE
59
TENURE
4.3 yrs

Svein Frøystad

TITLE
Head of IT Governance & Employee Representative Director
AGE
53
TENURE
1.3 yrs

Mai-Lill Ibsen

TITLE
Director
COMPENSATION
NOK672K
AGE
63
TENURE
3.7 yrs

August Johan Baumann

TITLE
Director
COMPENSATION
NOK557K
AGE
52
TENURE
3.7 yrs

Ragnhild Wiborg

TITLE
Director
COMPENSATION
NOK591K
AGE
57
TENURE
3.6 yrs

Hugo Maurstad

TITLE
Director
COMPENSATION
NOK332K
AGE
53
TENURE
2.8 yrs

Cathrine Klouman

TITLE
Director
COMPENSATION
NOK233K
AGE
56
TENURE
1.3 yrs

Karianne Mjøs-Haugland

TITLE
Employee Representative Director
AGE
42
TENURE
1.3 yrs

Thomas Tjøstheim

TITLE
Employee Representative Deputy Board Member
AGE
39
TENURE
1 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Sbanken insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (NOK) Value (NOK)
25. Feb 19 Buy Mari Rørvik Individual 25. Feb 19 25. Feb 19 317 NOK78.74 NOK24,959
25. Feb 19 Buy Atle Tidemann Individual 25. Feb 19 25. Feb 19 372 NOK78.74 NOK29,290
25. Feb 19 Buy Christoffer Hernæs Individual 25. Feb 19 25. Feb 19 95 NOK78.74 NOK7,480
25. Feb 19 Buy Magnar Øyhovden Individual 25. Feb 19 25. Feb 19 1,587 NOK78.74 NOK124,955
25. Feb 19 Buy Henning Nordgulen Individual 25. Feb 19 25. Feb 19 1,265 NOK78.74 NOK99,602
21. Dec 18 Buy Lars Midby Individual 21. Dec 18 21. Dec 18 670 NOK76.00 NOK50,920
20. Dec 18 Buy Lars Midby Individual 20. Dec 18 20. Dec 18 660 NOK76.60 NOK50,556
12. Dec 18 Buy Atle Tidemann Individual 12. Dec 18 12. Dec 18 185 NOK80.80 NOK14,948
12. Dec 18 Buy Eirik Christensen Individual 12. Dec 18 12. Dec 18 185 NOK80.80 NOK14,948
22. Nov 18 Buy Lars Midby Individual 22. Nov 18 22. Nov 18 1,250 NOK78.31 NOK97,888
21. Nov 18 Buy Lars Midby Individual 21. Nov 18 21. Nov 18 1,250 NOK78.30 NOK97,875
20. Nov 18 Buy Lars Midby Individual 20. Nov 18 20. Nov 18 1,250 NOK79.50 NOK99,375
13. Jul 18 Buy Thomas Tjøstheim Individual 13. Jul 18 13. Jul 18 180 NOK81.99 NOK14,758
13. Jul 18 Buy Svein Frøystad Individual 13. Jul 18 13. Jul 18 180 NOK81.99 NOK14,758
13. Jul 18 Buy Brede Selseng Individual 13. Jul 18 13. Jul 18 180 NOK81.99 NOK14,758
13. Jul 18 Buy Bente Rebnor Individual 13. Jul 18 13. Jul 18 180 NOK81.99 NOK14,758
13. Jul 18 Buy Magnar Øyhovden Individual 13. Jul 18 13. Jul 18 180 NOK81.99 NOK14,758
13. Jul 18 Buy Arlin Mæland Individual 13. Jul 18 13. Jul 18 180 NOK81.99 NOK14,758
13. Jul 18 Buy Karianne Mjøs-Haugland Individual 13. Jul 18 13. Jul 18 180 NOK81.99 NOK14,758
13. Jul 18 Buy Henning Nordgulen Individual 13. Jul 18 13. Jul 18 180 NOK81.99 NOK14,758
14. Jun 18 Sell Thomas Tjøstheim Individual 14. Jun 18 14. Jun 18 -403 NOK85.50 NOK-34,456
X
Management checks
We assess Sbanken'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. Sbanken 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.

0RD6 News

Simply Wall St News

0RD6 Company Info

Description

Sbanken ASA, a digital bank that provides various banking products to retail customers through its banking platform in Norway. It offers deposit products, such as security deposit accounts and home savings account; and home loans, car loans, credit cards, overdraft facilities, personal loans, consumer loans, and custody account loans, as well as short-term loans. The company also provides payment services, including payment of bills, international payments, card transactions, etc.; log-in, security solutions, etc.; and investment products, as well as online banking services. The company was formerly known as Skandiabanken ASA and changed its name to Skandiabanken ASA in November 2017. Sbanken ASA was founded in 2000 and is headquartered in Bergen, Norway.

Details
Name: Sbanken ASA
0RD6
Exchange: LSE
Founded: 2000
NOK9,297,631,971
106,869,333
Website: http://www.skandiabanken.no
Address: Sbanken ASA
Folke Bernadottesvei 38,
Bergen,
Hordaland, Norway
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OB SBANK Registered Shares Oslo Bors NO NOK 02. Nov 2015
OTCPK MDRD.F Registered Shares Pink Sheets LLC US USD 02. Nov 2015
DB 7SB Registered Shares Deutsche Boerse AG DE EUR 02. Nov 2015
LSE 0RD6 Registered Shares London Stock Exchange GB NOK 02. Nov 2015
Number of employees
Current staff
Staff numbers
344
Sbanken employees.
Industry
Diversified Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/20 21:55
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/11
Last earnings filing: 2019/03/22
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.