Kraft Bank Valuation

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

Below Fair Value: KRAB (NOK8.9) is trading below our estimate of fair value (NOK19.56)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for KRAB. This is calculated by dividing KRAB's market cap by their current earnings.
What is KRAB's PE Ratio?
PE Ratio	18.9x
Earnings	NOK 19.76m
Market Cap	NOK 361.20m

KRAB key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	n/a
Enterprise Value/EBITDA	n/a
PEG Ratio	0.3x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for KRAB vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	9.8x
ROMSB Romsdal Sparebank	14.9x	16.6%	NOK 345.5m
SB68 Sparebank 68° Nord	10x	25.5%	NOK 454.9m
HGSB Haugesund Sparebank	2.2x	28.9%	NOK 334.2m
SUNSB Sunndal Sparebank	11.9x	15.3%	NOK 325.7m
KRAB Kraft Bank	18.9x	58.2%	NOK 361.2m

Price-To-Earnings vs Peers: KRAB is expensive based on its Price-To-Earnings Ratio (18.9x) compared to the peer average (8.2x).

Price to Earnings Ratio vs Industry

How does KRAB'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$15.15m

No more companies available in this PE range

1 Company		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: KRAB is expensive based on its Price-To-Earnings Ratio (18.9x) compared to the Norwegian Banks industry average (8.3x).

Price to Earnings Ratio vs Fair Ratio

What is KRAB'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.

KRAB PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	18.9x
Fair PE Ratio	17.6x

Price-To-Earnings vs Fair Ratio: KRAB is expensive based on its Price-To-Earnings Ratio (18.9x) compared to the estimated Fair Price-To-Earnings Ratio (17.6x).

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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