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Norwegian Finans Holding

LSE:0RIU
Snowflake Description

Undervalued with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
0RIU
LSE
NOK13B
Market Cap
  1. Home
  2. GB
  3. Banks
Company description

Norwegian Finans Holding ASA, through its subsidiary, Bank Norwegian AS, provides various banking products and services to retail customers in Norway, Finland, Sweden, and Denmark. The last earnings update was 25 days ago. More info.


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0RIU Share Price and Events
7 Day Returns
1%
LSE:0RIU
0.9%
GB Banks
0.5%
GB Market
1 Year Returns
-25.7%
LSE:0RIU
-9.3%
GB Banks
0.8%
GB Market
0RIU Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Norwegian Finans Holding (0RIU) 1% 3.6% 3% -25.7% - -
GB Banks 0.9% 7.9% 5.9% -9.3% 18.7% -10.6%
GB Market 0.5% 3.6% 7.6% 0.8% 15.9% 6.2%
1 Year Return vs Industry and Market
  • 0RIU underperformed the Banks industry which returned -9.3% over the past year.
  • 0RIU underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned 0.8% over the past year.
Price Volatility
0RIU
Industry
5yr Volatility vs Market

Value

 Is Norwegian Finans Holding 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 Norwegian Finans Holding 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 Norwegian Finans Holding.

LSE:0RIU Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 4 analysts.
= Stable Book Value * Return on Equity
= NOK50.82 * 23.5%
NOK11.96
Book Value of Equity per Share Weighted future Book Value estimates from 3 analysts. NOK50.82
Discount Rate (Cost of Equity) See below 6%
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:0RIU
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))
= 0.592 (1 + (1- 23%) (22.1%))
0.794
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (0.8 * 5.96%)
6%

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

The calculations below outline how an intrinsic value for Norwegian Finans Holding 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:0RIU Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (23.5% – 6%) * NOK50.82)
NOK8.91
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= NOK8.91 / (6% - 1.23%)
NOK186.93
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= NOK50.82 + NOK186.93
NOK237.76
LSE:0RIU Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in LSE:0RIU represents 1.00069x of OB:NOFI
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.00069x
Value per Share
(Listing Adjusted, NOK)
= Value per Share (NOK) x Listing Adjustment Factor
= NOK 237.76 x 1.00069
NOK237.92
Value per share (NOK) From above. NOK237.92
Current discount Discount to share price of NOK72.00
= -1 x (NOK72.00 - NOK237.92) / NOK237.92
69.7%

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

Current Discount
Amount off the current price Norwegian Finans Holding is available for.
Intrinsic value
>50%
Share price is NOK72 vs Future cash flow value of NOK237.92
Current Discount Checks
For Norwegian Finans Holding to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Norwegian Finans Holding's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Norwegian Finans Holding's share price is below the future cash flow value, and at a substantial discount (> 40%).
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 Norwegian Finans Holding's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Norwegian Finans Holding's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
LSE:0RIU PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in NOK NOK9.62
OB:NOFI Share Price ** OB (2019-04-23) in NOK NOK71.95
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 Norwegian Finans Holding.

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

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

= 71.95 ÷ 9.62

7.48x

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

  • Norwegian Finans Holding is good value based on earnings compared to the GB Banks industry average.
  • Norwegian Finans Holding is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Norwegian Finans Holding's expected growth come at a high price?
Raw Data
LSE:0RIU PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.48x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
7.6%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:0RIU PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 7.48x ÷ 7.6%

0.98x

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

  • Norwegian Finans Holding is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Norwegian Finans Holding's assets?
Raw Data
LSE:0RIU PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in NOK NOK40.40
OB:NOFI Share Price * OB (2019-04-23) in NOK NOK71.95
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:0RIU PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 71.95 ÷ 40.40

1.78x

* Primary Listing of Norwegian Finans Holding.

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

  • Norwegian Finans Holding is overvalued based on assets compared to the GB Banks industry average.
X
Value checks
We assess Norwegian Finans Holding'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. Norwegian Finans Holding has a total score of 5/6, 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.

Future Performance

 How is Norwegian Finans Holding expected to perform in the next 1 to 3 years based on estimates from 4 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
7.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Norwegian Finans Holding expected to grow at an attractive rate?
  • Norwegian Finans Holding's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
  • Norwegian Finans Holding's earnings growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
  • Norwegian Finans Holding'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:0RIU Future Growth Rates Data Sources
Data Point Source Value (per year)
LSE:0RIU Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 7.6%
LSE:0RIU Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 15.1%
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:0RIU Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in NOK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
LSE:0RIU Future Estimates Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 6,042 2,256 4
2020-12-31 5,646 2,124 4
2019-12-31 5,153 1,951 4
LSE:0RIU Past Financials Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income *
2018-12-31 3,625 -5,005 1,797
2018-09-30 3,577 -7,209 1,767
2018-06-30 3,528 -5,397 1,766
2018-03-31 3,362 -7,297 1,682
2017-12-31 3,180 -10,298 1,597
2017-09-30 2,950 -9,431 1,447
2017-06-30 2,683 -12,127 1,260
2017-03-31 2,464 -12,664 1,120
2016-12-31 2,187 -10,978 959
2016-09-30 1,952 -10,758 843
2016-06-30 1,703 -8,709 727
2016-03-31 1,450 -5,855 600

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Norwegian Finans Holding's earnings are expected to grow by 7.6% yearly, however this is not considered high growth (20% yearly).
  • Norwegian Finans Holding's revenue is expected to grow by 15.1% 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:0RIU 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 4 Analyst Estimates (S&P Global) See Below

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

LSE:0RIU Future Estimates Data
Date (Data in NOK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 12.33 13.00 10.81 4.00
2020-12-31 11.51 12.20 10.44 4.00
2019-12-31 10.51 11.10 10.19 4.00
LSE:0RIU Past Financials Data
Date (Data in NOK Millions) EPS *
2018-12-31 9.62
2018-09-30 9.41
2018-06-30 9.41
2018-03-31 8.99
2017-12-31 8.79
2017-09-30 7.97
2017-06-30 7.06
2017-03-31 6.36
2016-12-31 5.50
2016-09-30 4.84
2016-06-30 4.18
2016-03-31 3.46

*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.
  • Norwegian Finans Holding is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Norwegian Finans Holding'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.
Norwegian Finans Holding has a total score of 3/6, 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.

Past Performance

  How has Norwegian Finans Holding 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 Norwegian Finans Holding'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.
  • Norwegian Finans Holding has delivered over 20% year on year earnings growth in the past 5 years.
  • Norwegian Finans Holding's 1-year earnings growth is less than its 5-year average (12.5% vs 40.5%)
  • Norwegian Finans Holding's earnings growth has not exceeded the GB Banks industry average in the past year (12.5% vs 42.2%).
Earnings and Revenue History
Norwegian Finans Holding'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 Norwegian Finans Holding Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:0RIU 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 3,624.64 1,796.61 1,172.91
2018-09-30 3,576.96 1,767.29 1,166.53
2018-06-30 3,527.61 1,765.66 1,121.95
2018-03-31 3,361.72 1,681.87 1,070.24
2017-12-31 3,180.01 1,597.05 1,002.25
2017-09-30 2,950.27 1,447.04 992.21
2017-06-30 2,682.98 1,260.47 972.92
2017-03-31 2,464.20 1,120.06 936.64
2016-12-31 2,186.64 959.44 875.96
2016-09-30 1,951.97 843.24 777.65
2016-06-30 1,702.86 727.16 685.17
2016-03-31 1,450.26 599.58 608.64
2015-12-31 1,312.35 543.72 545.84
2015-09-30 1,181.29 474.50 508.85
2015-06-30 1,085.01 438.19 464.40
2015-03-31 982.29 389.84 428.48
2014-12-31 896.25 345.78 401.62
2014-09-30 813.04 306.74 373.01
2014-06-30 739.63 274.31 341.70
2014-03-31 674.15 249.62 309.36
2013-12-31 616.02 237.90 268.85
2013-09-30 562.79 220.51 242.86
2013-06-30 516.93 203.59 222.38
2013-03-31 475.39 183.55 209.86
2012-12-31 440.99 163.36 203.91
2012-09-30 408.30 145.74 196.93
2012-06-30 373.61 127.89 186.88

*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.
  • Norwegian Finans Holding has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Norwegian Finans Holding used its assets more efficiently than the GB Banks industry average last year based on Return on Assets.
  • Unable to establish if Norwegian Finans Holding 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 Norwegian Finans Holding'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.
Norwegian Finans Holding 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.

Health

 How is Norwegian Finans Holding'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 Norwegian Finans Holding'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 Norwegian Finans Holding Company Filings, last reported 3 months ago.

LSE:0RIU Past Debt and Equity Data
Date (Data in NOK Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 7,544.25 2,975.43 1,783.04
2018-09-30 7,082.03 2,320.16 1,951.73
2018-06-30 6,655.32 2,370.57 2,433.09
2018-03-31 6,174.04 2,519.73 1,953.89
2017-12-31 5,713.62 2,769.28 1,413.56
2017-09-30 5,277.80 2,526.07 1,834.75
2017-06-30 4,851.16 2,519.34 1,457.78
2017-03-31 4,151.28 2,073.56 1,134.34
2016-12-31 3,335.28 2,105.67 1,163.35
2016-09-30 3,038.00 2,266.81 863.01
2016-06-30 2,583.34 2,081.64 946.64
2016-03-31 2,023.73 2,055.28 502.98
2015-12-31 1,871.28 2,062.21 536.83
2015-09-30 1,517.31 1,973.96 369.45
2015-06-30 1,371.46 1,974.08 441.26
2015-03-31 1,255.17 2,174.19 321.45
2014-12-31 1,141.85 1,900.64 358.70
2014-09-30 1,037.50 1,900.79 406.57
2014-06-30 943.37 1,398.56 496.00
2014-03-31 855.73 854.53 306.09
2013-12-31 790.49 799.98 106.14
2013-09-30 725.18 529.74 136.07
2013-06-30 664.13 529.72 139.76
2013-03-31 600.81 280.00 60.01
2012-12-31 547.28 280.00 99.77
2012-09-30 499.36 280.00 156.79
2012-06-30 455.23 280.00 72.82
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.
  • Norwegian Finans Holding has an acceptable proportion of non-loan assets held.
  • Norwegian Finans Holding's liabilities are made up of primarily low risk sources of funding.
  • Loans at Norwegian Finans Holding are broadly funded by customer deposits.
  • Norwegian Finans Holding's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • Norwegian Finans Holding has a low allowance for bad loans.
  • Norwegian Finans Holding has a high level of bad loans (greater than 2%).
X
Financial health checks
We assess Norwegian Finans Holding'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. Norwegian Finans Holding 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.

Dividends

 What is Norwegian Finans Holding'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
0%
Current annual income from Norwegian Finans Holding dividends. Estimated to be 8.73% next year.
If you bought NOK2,000 of Norwegian Finans Holding shares you are expected to receive NOK0 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?
  • Unable to evaluate Norwegian Finans Holding's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Norwegian Finans Holding's dividend against the top 25% market benchmark as the company has not reported any payouts.
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:0RIU 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 4 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:0RIU Future Dividends Estimate Data
Date (Data in NOK) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 7.73 4.00
2020-12-31 6.31 4.00
2019-12-31 4.81 4.00

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

  • Unable to perform a dividend volatility check as Norwegian Finans Holding has not reported any payouts.
  • Unable to verify if Norwegian Finans Holding's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Norwegian Finans Holding's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Norwegian Finans Holding has not reported any payouts.
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.6x coverage).
X
Income/ dividend checks
We assess Norwegian Finans Holding'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 Norwegian Finans Holding afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Norwegian Finans Holding has a total score of 1/6, see the detailed checks below.


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

Management

 What is the CEO of Norwegian Finans Holding'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.
  • Norwegian Finans Holding has no CEO, or we have no data on them.
Management Team

Tore Widding

TITLE
Chief Risk Officer
COMPENSATION
NOK271K

Nils Sælen

TITLE
Executive Officer
COMPENSATION
NOK770K

Frode Bergland Bjørnstad

TITLE
Chief Legal & Compliance Officer
TENURE
0.1 yrs
Board of Directors Tenure

Average tenure and age of the Norwegian Finans Holding board of directors in years:

1.7
Average Tenure
54
Average Age
  • The average tenure for the Norwegian Finans Holding board of directors is less than 3 years, this suggests a new board.
Board of Directors

Bjørn Østbø

TITLE
Chairman of the Board
AGE
54
TENURE
1.2 yrs

Anita Marie Aarnæs

TITLE
Director
COMPENSATION
NOK250K
AGE
68
TENURE
12.3 yrs

John Høsteland

TITLE
Director
COMPENSATION
NOK250K
AGE
71
TENURE
12.3 yrs

Christine Rødsæther

TITLE
Director
COMPENSATION
NOK175K
AGE
54
TENURE
2.3 yrs

Rolv-Erik Spilling

TITLE
Director
AGE
51
TENURE
1.1 yrs

Gunn Ingemundsen

TITLE
Director
AGE
50
TENURE
0.9 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (NOK) Value (NOK)
21. Dec 18 Buy Wollebekkgruppen As Company 21. Dec 18 21. Dec 18 3,000 NOK63.71 NOK191,130
21. Dec 18 Buy Fredrik Mundal Individual 21. Dec 18 21. Dec 18 3,000 NOK65.94 NOK197,820
05. Nov 18 Buy Emerald Invest AS Company 05. Nov 18 05. Nov 18 12,500 NOK77.39 NOK967,381
13. Nov 18 Buy Christine Rødsæther Individual 13. Nov 18 13. Nov 18 2,000 NOK73.65 NOK147,300
02. Nov 18 Buy John Høsteland Individual 02. Nov 18 02. Nov 18 10,000 NOK78.09 NOK780,934
30. Oct 18 Buy Frode Bergland Bjørnstad Individual 30. Oct 18 30. Oct 18 1,500 NOK80.00 NOK120,000
31. Aug 18 Sell Merete Gillund Individual 30. Aug 18 30. Aug 18 -65,000 NOK108.98 NOK-7,083,700
31. Aug 18 Sell Tore Andresen Individual 30. Aug 18 30. Aug 18 -54,520 NOK109.07 NOK-5,946,496
24. May 18 Buy John Høsteland Individual 24. May 18 24. May 18 20,000 NOK867,202.00 NOK17,344,039,989
X
Management checks
We assess Norwegian Finans Holding'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. Norwegian Finans Holding 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.

News

Simply Wall St News

Company Info

Description

Norwegian Finans Holding ASA, through its subsidiary, Bank Norwegian AS, provides various banking products and services to retail customers in Norway, Finland, Sweden, and Denmark. It offers deposit accounts, consumer loans, and credit cards through Internet. The company also provides a combined credit card and reward card in cooperation with the airline Norwegian. Norwegian Finans Holding ASA was founded in 2007 and is based in Fornebu, Norway.

Details
Name: Norwegian Finans Holding ASA
0RIU
Exchange: LSE
Founded: 2007
NOK13,464,808,817
186,751,856
Website: http://www.banknorwegian.no
Address: Norwegian Finans Holding ASA
Snarøyveien 36,
Fornebu,
Akershus, 1364,
Norway
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OB NOFI Share Capital Oslo Bors NO NOK 23. Jun 2014
OTCPK NWEG.F Share Capital Pink Sheets LLC US USD 23. Jun 2014
DB 4NF Share Capital Deutsche Boerse AG DE EUR 23. Jun 2014
LSE 0RIU Share Capital London Stock Exchange GB NOK 23. Jun 2014
BATS-CHIXE NOFIO Share Capital BATS 'Chi-X Europe' GB NOK 23. Jun 2014
Number of employees
Current staff
Staff numbers
0
Norwegian Finans Holding employees.
Industry
Diversified Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/23 22:17
End of day share price update: 2019/04/23 00:00
Last estimates confirmation: 2019/04/23
Last earnings filing: 2019/03/29
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.