OB:KOMP

Stock Analysis Report

Komplett Bank

Executive Summary

Komplett Bank ASA provides unsecured financing to private individuals in the Norwegian and German markets.

Snowflake

Fundamentals

Undervalued with adequate balance sheet.


Similar Companies

Share Price & News

How has Komplett Bank's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: KOMP's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

2.3%

KOMP

-3.5%

NO Banks

-1.1%

NO Market


1 Year Return

-12.6%

KOMP

6.9%

NO Banks

-3.9%

NO Market

Return vs Industry: KOMP underperformed the Norwegian Banks industry which returned 6.9% over the past year.

Return vs Market: KOMP underperformed the Norwegian Market which returned -3.9% over the past year.


Shareholder returns

KOMPIndustryMarket
7 Day2.3%-3.5%-1.1%
30 Day19.8%1.5%1.3%
90 Day30.3%8.1%7.1%
1 Year-12.6%-12.6%12.1%6.9%1.2%-3.9%
3 Year-30.4%-30.4%48.9%30.8%40.5%22.9%
5 Yearn/a73.6%37.6%54.1%19.0%

Price Volatility Vs. Market

How volatile is Komplett Bank's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Komplett Bank undervalued compared to its fair value and its price relative to the market?

43.7%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: KOMP (NOK11.7) is trading below our estimate of fair value (NOK20.77)

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


Price To Earnings Ratio

PE vs Industry: KOMP is good value based on its PE Ratio (6.7x) compared to the Banks industry average (8.2x).

PE vs Market: KOMP is good value based on its PE Ratio (6.7x) compared to the Norwegian market (13.1x).


Price to Earnings Growth Ratio

PEG Ratio: KOMP is good value based on its PEG Ratio (0.6x)


Price to Book Ratio

PB vs Industry: KOMP is overvalued based on its PB Ratio (1.1x) compared to the NO Banks industry average (0.5x).


Next Steps

Future Growth

How is Komplett Bank forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

11.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: KOMP's forecast earnings growth (11.3% per year) is above the savings rate (1.8%).

Earnings vs Market: KOMP's earnings (11.3% per year) are forecast to grow slower than the Norwegian market (20.9% per year).

High Growth Earnings: KOMP's earnings are forecast to grow, but not significantly.

Revenue vs Market: KOMP's revenue (15.2% per year) is forecast to grow faster than the Norwegian market (4.4% per year).

High Growth Revenue: KOMP's revenue (15.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: KOMP's Return on Equity is forecast to be low in 3 years time (17.4%).


Next Steps

Past Performance

How has Komplett Bank performed over the past 5 years?

48.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: KOMP has a high level of non-cash earnings.

Growing Profit Margin: KOMP's current net profit margins (36.2%) are lower than last year (42.5%).


Past Earnings Growth Analysis

Earnings Trend: KOMP's earnings have grown significantly by 48% per year over the past 5 years.

Accelerating Growth: KOMP's earnings growth over the past year (2.7%) is below its 5-year average (48% per year).

Earnings vs Industry: KOMP earnings growth over the past year (2.7%) underperformed the Banks industry 12.9%.


Return on Equity

High ROE: KOMP's Return on Equity (16.9%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Komplett Bank's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: KOMP has a low level of unsold assets or inventory.

Debt Coverage by Assets: KOMP's debt is covered by short term assets (assets are 18.1x debt).


Financial Institutions Analysis

Asset Level: KOMP's level of assets compared to its equity is low.

Allowance for Bad Loans: KOMP has a low allowance for bad loans.

Low Risk Liabilities: KOMP's liabilities are made up of primarily low risk sources of funding.

Loan Level: KOMP has an acceptable proportion of non-loan assets held.

Low Risk Deposits: KOMP's loans are broadly funded by customer deposits.

Level of Bad Loans: KOMP has a high level of bad loans (11.82%)


Next Steps

Dividend

What is Komplett Bank's current dividend yield, its reliability and sustainability?

6.41%

Forecast Dividend Yield


Dividend Yield vs Market

companyn/amarketbottom25%2.5%markettop25%6.0%industryaverage5.0%forecastin3Years6.4%

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate KOMP's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate KOMP's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if KOMP's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if KOMP's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of KOMP's dividend in 3 years as they are not forecast to pay a notable one for the Norwegian market.


Next Steps

Management

What is the CEO of Komplett Bank's salary, the management and board of directors tenure and is there insider trading?

0.8yrs

Average management tenure


CEO

Jan Haglund (49yo)

0.8yrs

Tenure

0

Mr. Jan Olov Haglund has been Chief Executive Officer at Komplett Bank ASA since January 15, 2019 and served as its Chief Financial Officer since June 1, 2018 until January 15, 2019 and served as its Chief ...


Management Age and Tenure

0.8yrs

Average Tenure

Experienced Management: KOMP's management team is not considered experienced ( 0.8 years average tenure), which suggests a new team.


Board Age and Tenure

1.7yrs

Average Tenure

54yo

Average Age

Experienced Board: KOMP's board of directors are not considered experienced ( 1.7 years average tenure), which suggests a new board.


Insider Trading

Insider Buying: KOMP insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Buykr109,56020 Aug 19
Jan Stangeland
EntityIndividual
Role
Member of the Board of Directors
Director
Shares12,000
Max Pricekr9.13
Sellkr1,680,00115 Aug 19
Steffen Ryengen
EntityIndividual
Role
Chief Information Officer
Chief Marketing & Information Officer
Shares200,000
Max Pricekr8.40
Sellkr12,600,00415 Aug 19
Wilhelm Thomassen
EntityIndividual
Role
Chief Compliance Officer
Director of Risk Control
Shares1,500,000
Max Pricekr8.40
Buykr1,680,00115 Aug 19
Stig Sivertsen
EntityIndividual
Role
Chairman of the Board
Chairman
Shares200,000
Max Pricekr8.40
Buykr1,260,00015 Aug 19
Harald Hjorthen
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares150,000
Max Pricekr8.40

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 4.5%.


Management Team

  • Jan Haglund (49yo)

    Chief Executive Officer

    • Tenure: 0.8yrs
  • Wilhelm Thomassen

    Director of Risk Control

    • Tenure: 0yrs
  • Christina Pedersen

    Director for HR & Project Office

    • Tenure: 1.7yrs
  • Kent Erik Österlund

    Chief Credit Risk Officer

    • Tenure: 0yrs
  • Steffen Ryengen

    Chief Marketing & Information Officer

    • Tenure: 0yrs
  • Niels Ursin-Holm

    Chief Operation Officer

    • Tenure: 0yrs
  • Henning Fagerbakke

    Chief Financial Officer

    • Tenure: 0.8yrs

Board Members

  • Stig Sivertsen (60yo)

    Chairman

    • Tenure: 0.3yrs
    • Compensation: kr200.00k
  • Live Haukvik Aker (56yo)

    Director

    • Tenure: 0yrs
    • Compensation: kr300.00k
  • Jan Stangeland (52yo)

    Director

    • Tenure: 1.7yrs
    • Compensation: kr200.00k
  • Bodil Hollingsæter

    Deputy Chairman of the Board

    • Tenure: 4.6yrs
    • Compensation: kr200.00k
  • Silje Christoffersen

    Employee Deputy Director

    • Tenure: 1.7yrs
  • Hilde Aasen

    Employee Director

    • Tenure: 1.7yrs
  • Morten Petterøe

    Employee Director

    • Tenure: 1.7yrs
  • Pål Røland

    Employee Deputy Member

    • Tenure: 0.8yrs
  • Harald Hjorthen (41yo)

    Independent Director

    • Tenure: 0.3yrs

Company Information

Komplett Bank ASA's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Komplett Bank ASA
  • Ticker: KOMP
  • Exchange: OB
  • Founded: 2012
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: kr2.151b
  • Shares outstanding: 183.85m
  • Website: https://www.komplettbank.no

Number of Employees


Location

  • Komplett Bank ASA
  • Vollsveien 2A
  • Lysaker
  • Akershus
  • 1366
  • Norway

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
KOMPOB (Oslo Bors)YesShare CapitalNONOKMar 2015
KOMPOBATS-CHIXE (BATS 'Chi-X Europe')YesShare CapitalGBNOKMar 2015
0EFWLSE (London Stock Exchange)YesShare CapitalGBNOKMar 2015
KBNDB (Deutsche Boerse AG)YesShare CapitalDEEURMar 2015

Biography

Komplett Bank ASA provides unsecured financing to private individuals in the Norwegian and German markets. It offers consumer loans, credit cards, and point of sale finance products, as well as deposit pro ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/11/17 21:46
End of Day Share Price2019/11/15 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


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.