SpareBank 1 Ringerike Hadeland

OB:RING Stock Report

Market Cap: NOK 5.1b

SpareBank 1 Ringerike Hadeland Valuation

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

Below Fair Value: RING (NOK325) is trading below our estimate of fair value (NOK592.5)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for RING. This is calculated by dividing RING's market cap by their current earnings.
What is RING's PE Ratio?
PE Ratio8.2x
EarningsNOK 618.60m
Market CapNOK 5.09b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for RING vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average9.6x
PARB Pareto Bank
7.3x0.9%NOK 5.1b
SOR Sparebanken Sør
10.5x17.1%NOK 8.0b
MOBA Morrow Bank
12.3x37.2%NOK 2.0b
SVEG Sparebanken Vest
8.4x22.4%NOK 15.1b
RING SpareBank 1 Ringerike Hadeland
8.2x-4.3%NOK 5.1b

Price-To-Earnings vs Peers: RING is good value based on its Price-To-Earnings Ratio (8.2x) compared to the peer average (9.6x).

Price to Earnings Ratio vs Industry

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

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
FFSB Flekkefjord Sparebank
1.4x3.9%US$14.56m
No more companies available in this PE range
RING 8.2xIndustry Avg. 9.3xNo. of Companies13PE0612182430+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: RING is good value based on its Price-To-Earnings Ratio (8.2x) compared to the Norwegian Banks industry average (9.3x).

Price to Earnings Ratio vs Fair Ratio

What is RING'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.

RING PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio8.2x
Fair PE Ratio7.7x

Price-To-Earnings vs Fair Ratio: RING is expensive based on its Price-To-Earnings Ratio (8.2x) compared to the estimated Fair Price-To-Earnings Ratio (7.7x).

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 RING forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 325.00
NOK 340.50
+4.8%
1.3%NOK 345.00NOK 336.00n/a2
Dec ’25NOK 322.00
NOK 340.50
+5.7%
1.3%NOK 345.00NOK 336.00n/a2
Nov ’25NOK 323.00
NOK 338.00
+4.6%
0.6%NOK 340.00NOK 336.00n/a2
Oct ’25NOK 300.50
NOK 333.00
+10.8%
0.9%NOK 336.00NOK 330.00n/a2
Sep ’25NOK 304.00
NOK 333.00
+9.5%
0.9%NOK 336.00NOK 330.00n/a2
Aug ’25NOK 299.95
NOK 331.00
+10.4%
0.3%NOK 332.00NOK 330.00n/a2
May ’25NOK 301.00
NOK 333.50
+10.8%
1.0%NOK 337.00NOK 330.00n/a2
Apr ’25NOK 280.00
NOK 335.50
+19.8%
1.6%NOK 341.00NOK 330.00n/a2
Mar ’25NOK 298.00
NOK 335.50
+12.6%
1.6%NOK 341.00NOK 330.00n/a2
Feb ’25NOK 298.00
NOK 334.00
+12.1%
2.7%NOK 343.00NOK 325.00n/a2
Jan ’25NOK 304.00
NOK 334.00
+9.9%
2.7%NOK 343.00NOK 325.00n/a2
Dec ’24NOK 308.00
NOK 334.00
+8.4%
2.7%NOK 343.00NOK 325.00NOK 322.002
Nov ’24NOK 292.00
NOK 341.50
+17.0%
0.4%NOK 343.00NOK 340.00NOK 323.002
Oct ’24NOK 302.00
NOK 341.50
+13.1%
0.4%NOK 343.00NOK 340.00NOK 300.502
Sep ’24NOK 308.00
NOK 341.50
+10.9%
0.4%NOK 343.00NOK 340.00NOK 304.002
Aug ’24NOK 318.00
NOK 344.50
+8.3%
1.3%NOK 349.00NOK 340.00NOK 299.952
Jul ’24NOK 312.00
NOK 344.50
+10.4%
1.3%NOK 349.00NOK 340.00NOK 300.002
Jun ’24NOK 314.00
NOK 344.50
+9.7%
1.3%NOK 349.00NOK 340.00NOK 297.952
May ’24NOK 326.00
NOK 344.50
+5.7%
1.3%NOK 349.00NOK 340.00NOK 301.002
Apr ’24NOK 320.00
NOK 349.00
+9.1%
2.6%NOK 358.00NOK 340.00NOK 280.002
Mar ’24NOK 330.00
NOK 349.00
+5.8%
2.6%NOK 358.00NOK 340.00NOK 298.002
Jan ’24NOK 324.00
NOK 335.00
+3.4%
1.5%NOK 340.00NOK 330.00NOK 304.002
Dec ’23NOK 320.00
NOK 335.00
+4.7%
1.5%NOK 340.00NOK 330.00NOK 308.002

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 Analysis2024/12/22 03:03
End of Day Share Price 2024/12/20 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 Ringerike Hadeland is covered by 7 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
Christian BernerBeringer Finance AB
Geir KristiansenBeringer Finance AB