SpareBank 1 Helgeland Valuation
Is HELG undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
3/6Valuation 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 HELG when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: HELG (NOK145) is trading below our estimate of fair value (NOK243.3)
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.
| What is HELG's PE Ratio? | |
|---|---|
| PE Ratio | 9.5x |
| Earnings | NOK 412.00m |
| Market Cap | NOK 3.90b |
| Key Statistics | |
|---|---|
| Enterprise Value/Revenue | n/a |
| Enterprise Value/EBITDA | n/a |
| PEG Ratio | 2.1x |
Price to Earnings Ratio vs Peers
How does HELG's PE Ratio compare to its peers?
| Company | Forward PE | Estimated Growth | Market Cap |
|---|---|---|---|
| Peer Average | 9.5x | ||
MORG Sparebanken Møre | 8.3x | 11.4% | NOK 4.6b |
SOAG SpareBank 1 Østfold Akershus | 8x | -0.7% | NOK 4.8b |
ROGS Rogaland Sparebank | 10.2x | 12.7% | NOK 2.8b |
JAREN Jæren Sparebank | 11.6x | 20.9% | NOK 1.6b |
HELG SpareBank 1 Helgeland | 9.5x | 4.4% | NOK 3.9b |
Price-To-Earnings vs Peers: HELG is good value based on its Price-To-Earnings Ratio (9.5x) compared to the peer average (9.5x).
Price to Earnings Ratio vs Industry
How does HELG's PE Ratio compare vs other companies in the NO Banks Industry?
| 1 Company | Price / Earnings | Estimated Growth | Market Cap |
|---|---|---|---|
FFSB Flekkefjord Sparebank | 1.4x | 4.1% | US$14.99m |
| 1 Company | Estimated Growth | Market Cap |
|---|
Price-To-Earnings vs Industry: HELG is expensive based on its Price-To-Earnings Ratio (9.5x) compared to the Norwegian Banks industry average (8.6x).
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.
| Fair Ratio | |
|---|---|
| Current PE Ratio | 9.5x |
| Fair PE Ratio | 8.8x |
Price-To-Earnings vs Fair Ratio: HELG is expensive based on its Price-To-Earnings Ratio (9.5x) 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?
| Date | Share Price | Average 1Y Price Target | Dispersion | High | Low | 1Y Actual price | Analysts |
|---|---|---|---|---|---|---|---|
| Current | NOK 145.00 | NOK 145.00 0% | 2.1% | NOK 148.00 | NOK 142.00 | n/a | 2 |
| Nov ’25 | NOK 142.02 | NOK 145.00 +2.1% | 2.1% | NOK 148.00 | NOK 142.00 | n/a | 2 |
| Oct ’25 | NOK 133.00 | NOK 143.50 +7.9% | 3.1% | NOK 148.00 | NOK 139.00 | n/a | 2 |
| Sep ’25 | NOK 130.90 | NOK 143.50 +9.6% | 3.1% | NOK 148.00 | NOK 139.00 | n/a | 2 |
| Aug ’25 | NOK 127.00 | NOK 145.50 +14.6% | 5.2% | NOK 153.00 | NOK 138.00 | n/a | 2 |
| Jul ’25 | NOK 126.50 | NOK 140.00 +10.7% | 1.4% | NOK 142.00 | NOK 138.00 | n/a | 2 |
| Jun ’25 | NOK 125.04 | NOK 138.00 +10.4% | 2.9% | NOK 142.00 | NOK 134.00 | n/a | 2 |
| May ’25 | NOK 127.92 | NOK 141.00 +10.2% | 5.0% | NOK 148.00 | NOK 134.00 | n/a | 2 |
| Apr ’25 | NOK 128.00 | NOK 149.50 +16.8% | 5.0% | NOK 157.00 | NOK 142.00 | n/a | 2 |
| Mar ’25 | NOK 136.00 | NOK 151.00 +11.0% | 4.0% | NOK 157.00 | NOK 145.00 | n/a | 2 |
| Feb ’25 | NOK 135.00 | NOK 152.00 +12.6% | 3.3% | NOK 157.00 | NOK 147.00 | n/a | 2 |
| Jan ’25 | NOK 130.00 | NOK 151.00 +16.2% | 2.6% | NOK 155.00 | NOK 147.00 | n/a | 2 |
| Dec ’24 | NOK 122.00 | NOK 151.00 +23.8% | 2.6% | NOK 155.00 | NOK 147.00 | n/a | 2 |
| Nov ’24 | NOK 116.00 | NOK 151.00 +30.2% | 2.6% | NOK 155.00 | NOK 147.00 | NOK 142.02 | 2 |
| Oct ’24 | NOK 121.00 | NOK 150.50 +24.4% | 3.0% | NOK 155.00 | NOK 146.00 | NOK 133.00 | 2 |
| Sep ’24 | NOK 125.00 | NOK 150.00 +20.0% | 3.3% | NOK 155.00 | NOK 145.00 | NOK 130.90 | 2 |
| Aug ’24 | NOK 127.00 | NOK 154.00 +21.3% | 3.9% | NOK 160.00 | NOK 148.00 | NOK 127.00 | 2 |
| Jul ’24 | NOK 125.00 | NOK 154.00 +23.2% | 3.9% | NOK 160.00 | NOK 148.00 | NOK 126.50 | 2 |
| Jun ’24 | NOK 121.00 | NOK 153.00 +26.4% | 4.6% | NOK 160.00 | NOK 146.00 | NOK 125.04 | 2 |
| May ’24 | NOK 123.00 | NOK 153.00 +24.4% | 4.6% | NOK 160.00 | NOK 146.00 | NOK 127.92 | 2 |
| Apr ’24 | NOK 127.00 | NOK 148.00 +16.5% | 1.4% | NOK 150.00 | NOK 146.00 | NOK 128.00 | 2 |
| Mar ’24 | NOK 134.00 | NOK 146.00 +9.0% | 2.7% | NOK 150.00 | NOK 142.00 | NOK 136.00 | 2 |
| Feb ’24 | NOK 117.00 | NOK 137.50 +17.5% | 0.4% | NOK 138.00 | NOK 137.00 | NOK 135.00 | 2 |
| Jan ’24 | NOK 120.00 | NOK 137.50 +14.6% | 0.4% | NOK 138.00 | NOK 137.00 | NOK 130.00 | 2 |
| Dec ’23 | NOK 109.00 | NOK 138.50 +27.1% | 0.4% | NOK 139.00 | NOK 138.00 | NOK 122.00 | 2 |
| Nov ’23 | NOK 109.00 | NOK 134.50 +23.4% | 3.3% | NOK 139.00 | NOK 130.00 | NOK 116.00 | 2 |
Analyst Forecast: Target price is less than 20% higher than the current share price.
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