Aasen Sparebank Valuation

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

Valuation Score

2/6

Valuation 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 AASB when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: AASB (NOK122.22) is trading below our estimate of fair value (NOK611.12)

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


Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for AASB. This is calculated by dividing AASB's market cap by their current earnings.
What is AASB's PE Ratio?
PE Ratio9.8x
EarningsNOK 21.68m
Market CapNOK 211.41m

Price to Earnings Ratio vs Peers

How does AASB's PE Ratio compare to its peers?

The above table shows the PE ratio for AASB vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average4.3x
FFSB Flekkefjord Sparebank
1.4x4.1%NOK 168.0m
SOGN Sogn Sparebank
1.6x2.6%NOK 157.3m
SUNSB Sunndal Sparebank
12.1x15.3%NOK 325.7m
HGSB Haugesund Sparebank
2.2x28.9%NOK 334.2m
AASB Aasen Sparebank
9.8x16.7%NOK 211.4m

Price-To-Earnings vs Peers: AASB is expensive based on its Price-To-Earnings Ratio (9.8x) compared to the peer average (3.9x).


Price to Earnings Ratio vs Industry

How does AASB's PE Ratio compare vs other companies in the NO Banks Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
FFSB Flekkefjord Sparebank
1.4x4.1%US$15.08m
No more companies available in this PE range
AASB 9.8xIndustry Avg. 8.3xNo. of Companies10PE0612182430+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: AASB is expensive based on its Price-To-Earnings Ratio (9.8x) compared to the Norwegian Banks industry average (8.3x).


Price to Earnings Ratio vs Fair Ratio

What is AASB'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.

AASB PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio9.8x
Fair PE Ratio8.8x

Price-To-Earnings vs Fair Ratio: AASB is expensive based on its Price-To-Earnings Ratio (9.8x) compared to the estimated Fair Price-To-Earnings Ratio (8.8x).


Analyst Price Targets

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

Analyst Forecast: Insufficient data to show price forecast.


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