SpareBank 1 Helgeland

OB:HELG Stock Report

Market Cap: NOK 3.9b

SpareBank 1 Helgeland Valuation

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

Valuation Score

4/6

Valuation Score 4/6

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

Below Fair Value: HELG (NOK143.86) is trading below our estimate of fair value (NOK247.7)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for HELG. This is calculated by dividing HELG's market cap by their current earnings.
What is HELG's PE Ratio?
PE Ratio9.4x
EarningsNOK 412.00m
Market CapNOK 3.87b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for HELG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average9.7x
MORG Sparebanken Møre
8.3x11.1%NOK 4.6b
SOAG SpareBank 1 Østfold Akershus
7.8x-2.3%NOK 4.6b
ROGS Rogaland Sparebank
10.5x11.4%NOK 2.9b
JAREN Jæren Sparebank
12.1x20.9%NOK 1.6b
HELG SpareBank 1 Helgeland
9.4x4.7%NOK 3.9b

Price-To-Earnings vs Peers: HELG is good value based on its Price-To-Earnings Ratio (9.4x) compared to the peer average (9.7x).

Price to Earnings Ratio vs Industry

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

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
FFSB Flekkefjord Sparebank
1.4x3.9%US$14.70m
No more companies available in this PE range
HELG 9.4xIndustry Avg. 9.4xNo. of Companies13PE0612182430+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: HELG is good value based on its Price-To-Earnings Ratio (9.4x) compared to the Norwegian Banks industry average (9.4x).

Price to Earnings Ratio vs Fair Ratio

What is HELG'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.

HELG PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio9.4x
Fair PE Ratio8.8x

Price-To-Earnings vs Fair Ratio: HELG is expensive based on its Price-To-Earnings Ratio (9.4x) 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?

The above table shows the analyst HELG forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 143.86
NOK 146.00
+1.5%
1.4%NOK 148.00NOK 144.00n/a2
Dec ’25NOK 140.00
NOK 145.00
+3.6%
2.1%NOK 148.00NOK 142.00n/a2
Nov ’25NOK 142.02
NOK 145.00
+2.1%
2.1%NOK 148.00NOK 142.00n/a2
Oct ’25NOK 133.00
NOK 143.50
+7.9%
3.1%NOK 148.00NOK 139.00n/a2
Sep ’25NOK 130.90
NOK 143.50
+9.6%
3.1%NOK 148.00NOK 139.00n/a2
Aug ’25NOK 127.00
NOK 145.50
+14.6%
5.2%NOK 153.00NOK 138.00n/a2
Jul ’25NOK 126.50
NOK 140.00
+10.7%
1.4%NOK 142.00NOK 138.00n/a2
Jun ’25NOK 125.04
NOK 138.00
+10.4%
2.9%NOK 142.00NOK 134.00n/a2
May ’25NOK 127.92
NOK 141.00
+10.2%
5.0%NOK 148.00NOK 134.00n/a2
Apr ’25NOK 128.00
NOK 149.50
+16.8%
5.0%NOK 157.00NOK 142.00n/a2
Mar ’25NOK 136.00
NOK 151.00
+11.0%
4.0%NOK 157.00NOK 145.00n/a2
Feb ’25NOK 135.00
NOK 152.00
+12.6%
3.3%NOK 157.00NOK 147.00n/a2
Jan ’25NOK 130.00
NOK 151.00
+16.2%
2.6%NOK 155.00NOK 147.00n/a2
Dec ’24NOK 122.00
NOK 151.00
+23.8%
2.6%NOK 155.00NOK 147.00NOK 140.002
Nov ’24NOK 116.00
NOK 151.00
+30.2%
2.6%NOK 155.00NOK 147.00NOK 142.022
Oct ’24NOK 121.00
NOK 150.50
+24.4%
3.0%NOK 155.00NOK 146.00NOK 133.002
Sep ’24NOK 125.00
NOK 150.00
+20.0%
3.3%NOK 155.00NOK 145.00NOK 130.902
Aug ’24NOK 127.00
NOK 154.00
+21.3%
3.9%NOK 160.00NOK 148.00NOK 127.002
Jul ’24NOK 125.00
NOK 154.00
+23.2%
3.9%NOK 160.00NOK 148.00NOK 126.502
Jun ’24NOK 121.00
NOK 153.00
+26.4%
4.6%NOK 160.00NOK 146.00NOK 125.042
May ’24NOK 123.00
NOK 153.00
+24.4%
4.6%NOK 160.00NOK 146.00NOK 127.922
Apr ’24NOK 127.00
NOK 148.00
+16.5%
1.4%NOK 150.00NOK 146.00NOK 128.002
Mar ’24NOK 134.00
NOK 146.00
+9.0%
2.7%NOK 150.00NOK 142.00NOK 136.002
Feb ’24NOK 117.00
NOK 137.50
+17.5%
0.4%NOK 138.00NOK 137.00NOK 135.002
Jan ’24NOK 120.00
NOK 137.50
+14.6%
0.4%NOK 138.00NOK 137.00NOK 130.002
Dec ’23NOK 109.00
NOK 138.50
+27.1%
0.4%NOK 139.00NOK 138.00NOK 122.002

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/26 17:52
End of Day Share Price 2024/12/23 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

SpareBank 1 Helgeland is covered by 6 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Fridtjof BerentsArctic Securities ASA
Geir KristiansenBeringer Finance AB
Håkon AstrupDNB Markets