Executive Summary
Norwegian Finans Holding ASA, through its subsidiary, Bank Norwegian AS, provides various digital banking products and services to retail customers in Norway, Finland, Sweden, and Denmark. More Details
Rewards
Risk Analysis
Snowflake Analysis
Good value with adequate balance sheet.
Share Price & News
How has Norwegian Finans Holding's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: NOFI is less volatile than 75% of Norwegian stocks over the past 3 months, typically moving +/- 4% a week.
Volatility Over Time: NOFI's weekly volatility (4%) has been stable over the past year.
Market Performance
7 Day Return
-1.5%
NOFI
-1.8%
NO Banks
0.1%
NO Market
1 Year Return
-22.4%
NOFI
1.5%
NO Banks
-0.7%
NO Market
Return vs Industry: NOFI underperformed the Norwegian Banks industry which returned 3% over the past year.
Return vs Market: NOFI underperformed the Norwegian Market which returned 0.4% over the past year.
Shareholder returns
| NOFI | Industry | Market | |
|---|---|---|---|
| 7 Day | -1.5% | -1.8% | 0.1% |
| 30 Day | 3.8% | 18.2% | 12.7% |
| 90 Day | 5.2% | 14.0% | 8.8% |
| 1 Year | -22.4%-22.4% | 2.6%1.5% | 2.9%-0.7% |
| 3 Year | -19.3%-19.3% | 18.1%6.7% | 10.3%-2.1% |
| 5 Year | 40.5%40.5% | 85.2%53.2% | 57.9%26.7% |
Long-Term Price Volatility Vs. Market
How volatile is Norwegian Finans Holding's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 years ago | Simply Wall St
Should You Be Tempted To Sell Norwegian Finans Holding ASA (OB:NOFI) Because Of Its PE Ratio?2 years ago | Simply Wall St
Does Norwegian Finans Holding ASA's (OB:NOFI) July Stock Price Reflect Its Future Growth?2 years ago | Simply Wall St
Why These Fundamentals Make Norwegian Finans Holding ASA’s (OB:NOFI) More AttractiveValuation
Is Norwegian Finans Holding undervalued compared to its fair value and its price relative to the market?
48.8%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: NOFI (NOK70.25) is trading below our estimate of fair value (NOK137.33)
Significantly Below Fair Value: NOFI is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: NOFI is good value based on its PE Ratio (6.7x) compared to the NO Banks industry average (9.5x).
PE vs Market: NOFI is good value based on its PE Ratio (6.7x) compared to the Norwegian market (15.3x).
Price to Earnings Growth Ratio
PEG Ratio: NOFI is poor value based on its PEG Ratio (1.7x)
Price to Book Ratio
PB vs Industry: NOFI is overvalued based on its PB Ratio (1.2x) compared to the NO Banks industry average (0.5x).
Next Steps
Future Growth
How is Norwegian Finans Holding forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?
4.0%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: NOFI's forecast earnings growth (4% per year) is above the savings rate (1.6%).
Earnings vs Market: NOFI's earnings (4% per year) are forecast to grow slower than the Norwegian market (33.8% per year).
High Growth Earnings: NOFI's earnings are forecast to grow, but not significantly.
Revenue vs Market: NOFI's revenue (7.6% per year) is forecast to grow faster than the Norwegian market (6.3% per year).
High Growth Revenue: NOFI's revenue (7.6% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: NOFI's Return on Equity is forecast to be low in 3 years time (17.8%).
Next Steps
Past Performance
How has Norwegian Finans Holding performed over the past 5 years?
23.0%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: NOFI has a high level of non-cash earnings.
Growing Profit Margin: NOFI's current net profit margins (49.8%) are lower than last year (50.6%).
Past Earnings Growth Analysis
Earnings Trend: NOFI's earnings have grown significantly by 23% per year over the past 5 years.
Accelerating Growth: NOFI's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: NOFI had negative earnings growth (-0.1%) over the past year, making it difficult to compare to the Banks industry average (-8.2%).
Return on Equity
High ROE: NOFI's Return on Equity (17.9%) is considered low.
Next Steps
Financial Health
How is Norwegian Finans Holding'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
Financial Institutions Analysis
Asset Level: NOFI's Assets to Equity ratio (5.9x) is low.
Allowance for Bad Loans: NOFI has a low allowance for bad loans (49%).
Low Risk Liabilities: 82% of NOFI's liabilities are made up of primarily low risk sources of funding.
Loan Level: NOFI has an appropriate level of Loans to Assets ratio (62%).
Low Risk Deposits: NOFI's Loans to Deposits ratio (91%) is appropriate.
Level of Bad Loans: NOFI has a high level of bad loans (22.3%).
Next Steps
Dividend
What is Norwegian Finans Holding current dividend yield, its reliability and sustainability?
7.55%
Forecast Dividend Yield
Dividend Yield vs Market
Notable Dividend: Unable to evaluate NOFI's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.
High Dividend: Unable to evaluate NOFI's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if NOFI's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if NOFI'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 NOFI's dividend in 3 years as they are not forecast to pay a notable one for the Norwegian market.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
1.6yrs
Average board tenure
CEO
Tine Gottlob Wollebekk (58 yo)
3.5yrs
Tenure
kr5,332,000
Compensation
Ms. Tine Gottlob Kirstan Wollebekk serves as Director of Ekornes ASA since 2017. Ms. Wollebekk serves as an Advisor of FSN Capital Partners AS. Ms. Wollebekk serves as the Managing Director of the card com...
CEO Compensation Analysis
Compensation vs Market: Tine Gottlob's total compensation ($USD604.65K) is about average for companies of similar size in the Norwegian market ($USD575.98K).
Compensation vs Earnings: Tine Gottlob's compensation has been consistent with company performance over the past year.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman of the Board | 0.67yr | no data | 0.0029% NOK 385.9k | |
| Independent Director | 3.92yrs | kr325.00k | no data | |
| Director | 1.58yrs | no data | no data | |
| Director | 1.92yrs | no data | no data | |
| Director | 13.92yrs | kr625.00k | no data | |
| Independent Director | 13.92yrs | kr325.00k | no data | |
| Director | 0.67yr | no data | no data | |
| Director | 0.67yr | no data | no data | |
| Employee Representative Director | 0.33yr | no data | no data |
1.6yrs
Average Tenure
54yo
Average Age
Experienced Board: NOFI's board of directors are not considered experienced ( 1.6 years average tenure), which suggests a new board.
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Norwegian Finans Holding ASA's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Norwegian Finans Holding ASA
- Ticker: NOFI
- Exchange: OB
- Founded: 2007
- Industry: Diversified Banks
- Sector: Banks
- Market Cap: kr13.126b
- Shares outstanding: 186.85m
- Website: https://www.banknorwegian.no/OmOss/InvestorRelations
Number of Employees
Location
- Norwegian Finans Holding ASA
- Snarøyveien 36
- Fornebu
- Akershus
- 1364
- Norway
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| NOFI | OB (Oslo Bors) | Yes | Share Capital | NO | NOK | Jun 2014 |
| 0RIU | LSE (London Stock Exchange) | Yes | Share Capital | GB | NOK | Jun 2014 |
| NOFIO | BATS-CHIXE (BATS 'Chi-X Europe') | Yes | Share Capital | GB | NOK | Jun 2014 |
| NWEG.F | OTCPK (Pink Sheets LLC) | Yes | Share Capital | US | USD | Jun 2014 |
| 4NF | DB (Deutsche Boerse AG) | Yes | Share Capital | DE | EUR | Jun 2014 |
Biography
Norwegian Finans Holding ASA, through its subsidiary, Bank Norwegian AS, provides various digital banking products and services to retail customers in Norway, Finland, Sweden, and Denmark. It offers deposi...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/12/02 17:20 |
| End of Day Share Price | 2020/12/01 00:00 |
| Earnings | 2020/09/30 |
| Annual Earnings | 2019/12/31 |
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.