SpareBank 1 Østlandet

LSE:0RU6 Stock Report

Market Cap: NOK 17.4b

SpareBank 1 Østlandet Valuation

Is 0RU6 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • 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 0RU6 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 0RU6 (NOK150) is trading below our estimate of fair value (NOK298.6)

Significantly Below Fair Value: 0RU6 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 0RU6?

Key metric: As 0RU6 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 0RU6. This is calculated by dividing 0RU6's market cap by their current earnings.
What is 0RU6's PE Ratio?
PE Ratio6.9x
EarningsNOK 2.51b
Market CapNOK 17.37b

Price to Earnings Ratio vs Peers

How does 0RU6's PE Ratio compare to its peers?

The above table shows the PE ratio for 0RU6 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average4.5x
TBCG TBC Bank Group
5x16.8%UK£1.8b
BGEO Bank of Georgia Group
3.2x-3.2%UK£2.2b
HSBK Halyk Bank of Kazakhstan
3.3xn/aUS$5.1b
TCS TCS Group Holding
6.5xn/aUS$5.1b
0RU6 SpareBank 1 Østlandet
6.9x2.9%NOK 17.4b

Price-To-Earnings vs Peers: 0RU6 is expensive based on its Price-To-Earnings Ratio (6.9x) compared to the peer average (4.5x).

Price to Earnings Ratio vs Industry

How does 0RU6's PE Ratio compare vs other companies in the European Banks Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
0RU6 6.9xIndustry Avg. 7.2xNo. of Companies45PE0612182430+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 0RU6 is good value based on its Price-To-Earnings Ratio (6.9x) compared to the European Banks industry average (7.3x).

Price to Earnings Ratio vs Fair Ratio

What is 0RU6'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.

0RU6 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio6.9x
Fair PE Ratio4.9x

Price-To-Earnings vs Fair Ratio: 0RU6 is expensive based on its Price-To-Earnings Ratio (6.9x) compared to the estimated Fair Price-To-Earnings Ratio (4.9x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 0RU6 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 150.00
NOK 155.25
+3.5%
3.1%NOK 160.00NOK 150.00n/a4
Nov ’25NOK 150.32
NOK 155.25
+3.3%
3.1%NOK 160.00NOK 150.00n/a4
Oct ’25NOK 142.26
NOK 154.75
+8.8%
3.5%NOK 160.00NOK 148.00n/a4
Sep ’25NOK 144.64
NOK 154.75
+7.0%
3.5%NOK 160.00NOK 148.00n/a4
Aug ’25NOK 148.30
NOK 144.75
-2.4%
3.6%NOK 150.00NOK 137.00n/a4
Jul ’25NOK 138.60
NOK 142.00
+2.5%
3.6%NOK 150.00NOK 137.00n/a4
Jun ’25NOK 136.49
NOK 141.25
+3.5%
3.7%NOK 150.00NOK 137.00n/a4
May ’25NOK 134.00
NOK 138.75
+3.5%
3.2%NOK 145.00NOK 133.00n/a4
Apr ’25NOK 124.59
NOK 141.25
+13.4%
2.9%NOK 145.00NOK 135.00n/a4
Mar ’25NOK 123.20
NOK 141.25
+14.7%
2.9%NOK 145.00NOK 135.00n/a4
Feb ’25NOK 121.41
NOK 140.00
+15.3%
2.5%NOK 145.00NOK 135.00n/a4
Jan ’25NOK 132.60
NOK 141.25
+6.5%
1.5%NOK 145.00NOK 140.00n/a4
Dec ’24NOK 124.80
NOK 141.25
+13.2%
1.5%NOK 145.00NOK 140.00n/a4
Nov ’24NOK 123.80
NOK 142.50
+15.1%
1.8%NOK 145.00NOK 140.00NOK 150.324
Oct ’24NOK 133.40
NOK 146.25
+9.6%
3.7%NOK 155.00NOK 140.00NOK 142.264
Sep ’24NOK 132.20
NOK 146.25
+10.6%
3.7%NOK 155.00NOK 140.00NOK 144.644
Aug ’24NOK 126.26
NOK 145.75
+15.4%
5.6%NOK 158.00NOK 135.00NOK 148.304
Jul ’24NOK 130.60
NOK 145.75
+11.6%
5.6%NOK 158.00NOK 135.00NOK 138.604
Jun ’24NOK 123.90
NOK 145.00
+17.0%
5.7%NOK 158.00NOK 135.00NOK 136.494
May ’24NOK 124.40
NOK 143.50
+15.4%
4.9%NOK 154.00NOK 135.00NOK 134.004
Apr ’24NOK 113.80
NOK 142.00
+24.8%
3.5%NOK 148.00NOK 135.00NOK 124.594
Mar ’24NOK 128.68
NOK 140.75
+9.4%
4.2%NOK 148.00NOK 135.00NOK 123.204
Feb ’24NOK 115.80
NOK 142.75
+23.3%
6.8%NOK 155.00NOK 128.00NOK 121.414
Jan ’24NOK 121.20
NOK 142.75
+17.8%
6.8%NOK 155.00NOK 128.00NOK 132.604
Dec ’23NOK 115.40
NOK 143.25
+24.1%
6.2%NOK 155.00NOK 130.00NOK 124.804
Nov ’23NOK 111.80
NOK 143.25
+28.1%
6.2%NOK 155.00NOK 130.00NOK 123.804

Analyst Forecast: Target price is less than 20% higher than the current share price.

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