SpareBank 1 Sør-Norge ASA

OB:SB1NO Stock Report

Market Cap: NOK 42.0b

SpareBank 1 Sør-Norge Valuation

Is SB1NO undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • 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 SB1NO when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
NOK 288.30
Fair Value
44.8% undervalued intrinsic discount
6
Number of Analysts

Below Fair Value: SB1NO (NOK159) is trading below our estimate of fair value (NOK288.3)

Significantly Below Fair Value: SB1NO is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for SB1NO?

Key metric: As SB1NO is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for SB1NO. This is calculated by dividing SB1NO's market cap by their current earnings.
What is SB1NO's PE Ratio?
PE Ratio8.3x
EarningsNOK 5.05b
Market CapNOK 42.00b

Price to Earnings Ratio vs Peers

How does SB1NO's PE Ratio compare to its peers?

The above table shows the PE ratio for SB1NO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average9.1x
MING SpareBank 1 SMN
8.6x4.1%NOK 26.2b
NONG SpareBank 1 Nord-Norge
8.2x8.1%NOK 13.1b
HELG SpareBank 1 Helgeland
11x4.7%NOK 4.5b
SOAG SpareBank 1 Østfold Akershus
8.7x-4.1%NOK 5.2b
SB1NO SpareBank 1 Sør-Norge
8.3x7.7%NOK 42.0b

Price-To-Earnings vs Peers: SB1NO is good value based on its Price-To-Earnings Ratio (8.3x) compared to the peer average (9.1x).

Price to Earnings Ratio vs Industry

How does SB1NO's PE Ratio compare vs other companies in the NO Banks Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
FFSB Flekkefjord Sparebank
1.5x4.3%US$15.39m
No more companies available in this PE range
SB1NO 8.3xIndustry Avg. 9.7xNo. of Companies11PE0612182430+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: SB1NO is good value based on its Price-To-Earnings Ratio (8.3x) compared to the Norwegian Banks industry average (10x).

Price to Earnings Ratio vs Fair Ratio

What is SB1NO'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.

SB1NO PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio8.3x
Fair PE Ratio10.6x

Price-To-Earnings vs Fair Ratio: SB1NO is good value based on its Price-To-Earnings Ratio (8.3x) compared to the estimated Fair Price-To-Earnings Ratio (10.6x).

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 SB1NO forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 159.00
NOK 162.83
+2.4%
5.1%NOK 175.00NOK 150.00n/a6
Feb ’26NOK 161.40
NOK 162.83
+0.9%
5.1%NOK 175.00NOK 150.00n/a6
Jan ’26NOK 146.60
NOK 161.00
+9.8%
4.1%NOK 170.00NOK 150.00n/a5
Dec ’25NOK 144.40
NOK 161.00
+11.5%
4.1%NOK 170.00NOK 150.00n/a5
Nov ’25NOK 145.80
NOK 161.00
+10.4%
4.1%NOK 170.00NOK 150.00n/a5
Oct ’25NOK 133.00
NOK 157.00
+18.0%
2.5%NOK 160.00NOK 150.00n/a5
Sep ’25NOK 136.00
NOK 157.00
+15.4%
2.5%NOK 160.00NOK 150.00n/a5
Aug ’25NOK 139.80
NOK 155.60
+11.3%
3.5%NOK 160.00NOK 148.00n/a5
Jul ’25NOK 132.40
NOK 153.60
+16.0%
3.4%NOK 160.00NOK 148.00n/a5
Jun ’25NOK 135.60
NOK 153.20
+13.0%
3.2%NOK 160.00NOK 148.00n/a5
May ’25NOK 134.80
NOK 152.20
+12.9%
2.4%NOK 158.00NOK 148.00n/a5
Apr ’25NOK 136.00
NOK 151.20
+11.2%
3.1%NOK 158.00NOK 145.00n/a5
Mar ’25NOK 129.50
NOK 152.20
+17.5%
4.1%NOK 163.00NOK 145.00n/a5
Feb ’25NOK 127.70
NOK 149.80
+17.3%
3.9%NOK 161.00NOK 145.00NOK 161.405
Jan ’25NOK 128.90
NOK 148.20
+15.0%
4.8%NOK 161.00NOK 140.00NOK 146.605
Dec ’24NOK 118.70
NOK 148.20
+24.9%
4.8%NOK 161.00NOK 140.00NOK 144.405
Nov ’24NOK 120.50
NOK 149.20
+23.8%
4.2%NOK 161.00NOK 145.00NOK 145.805
Oct ’24NOK 122.70
NOK 145.50
+18.6%
6.5%NOK 161.00NOK 129.00NOK 133.006
Sep ’24NOK 128.50
NOK 145.33
+13.1%
6.3%NOK 160.00NOK 129.00NOK 136.006
Aug ’24NOK 130.80
NOK 143.60
+9.8%
5.7%NOK 160.00NOK 138.00NOK 139.805
Jul ’24NOK 130.10
NOK 143.60
+10.4%
5.7%NOK 160.00NOK 138.00NOK 132.405
Jun ’24NOK 117.90
NOK 142.40
+20.8%
4.1%NOK 154.00NOK 138.00NOK 135.605
May ’24NOK 124.70
NOK 141.40
+13.4%
4.6%NOK 154.00NOK 135.00NOK 134.805
Apr ’24NOK 121.00
NOK 141.40
+16.9%
4.6%NOK 154.00NOK 135.00NOK 136.005
Mar ’24NOK 130.50
NOK 140.40
+7.6%
3.3%NOK 149.00NOK 135.00NOK 129.505
Feb ’24NOK 116.20
NOK 136.80
+17.7%
4.8%NOK 145.00NOK 128.00NOK 127.705
Analyst Price Target
Consensus Narrative from 6 Analysts
NOK 162.83
Fair Value
2.4% undervalued intrinsic discount
6
Number of Analysts

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 Analysis2025/02/07 07:43
End of Day Share Price 2025/02/07 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.

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 Github.

Analyst Sources

SpareBank 1 Sør-Norge ASA is covered by 12 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
null nullABG Sundal Collier
Fridtjof BerentsArctic Securities ASA
Geir KristiansenBeringer Finance AB