How does HEBANK's PB Ratio compare to its peers?

HEBANK is good value based on its Price-To-Book Ratio (0.5x) compared to the peer average (0.6x).

How does HEBANK's PB Ratio compare vs other companies in the European Consumer Finance Industry?

HEBANK is good value based on its Price-To-Book Ratio (0.5x) compared to the European Consumer Finance industry average (1.4x).

What is HEBANK's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

Insufficient data to calculate HEBANK's Price-To-Book Fair Ratio for valuation analysis.

What is the Fair Price of HEBANK when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

HEBANK (NOK10) is trading below our estimate of [[fair value]] (NOK11.4)

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Insufficient data to show price forecast.

Heder Bank OTCNO:HEBANK Stock Report

Last Price

NOK 10.00

Market Cap

NOK 115.6m

7D

0%

1Y

-36.5%

Updated

22 Dec, 2024

Data

Company Financials

Heder Bank ASA

OTCNO:HEBANK Stock Report

Market Cap: NOK 115.6m

HEBANK Stock Overview

Provides banking products and services in Norway. More details

HEBANK fundamental analysis
Snowflake Score
Valuation	3/6
Future Growth	0/6
Past Performance	0/6
Financial Health	4/6
Dividends	0/6

Rewards

Trading at 12.2% below our estimate of its fair value

Risk Analysis

Makes less than USD$1m in revenue (NOK10M)

Shares are highly illiquid

Shareholders have been diluted in the past year

Does not have a meaningful market cap (NOK116M)

My Notes

Capture your thoughts, links and company narrative

Heder Bank ASA Competitors

Axactor

OB:ACR

NOK 1.2b

B2 Impact

OB:B2I

NOK 3.7b

North Energy

OB:NORTH

NOK 288.4m

Huddlestock Fintech

OB:HUDL

NOK 101.4m

Price History & Performance

Summary of share price highs, lows and changes for Heder Bank
Historical stock prices
Current Share Price	NOK 10.00
52 Week High	NOK 0
52 Week Low	NOK 0
Beta	-0.084
1 Month Change	25.00%
3 Month Change	21.95%
1 Year Change	-36.51%
3 Year Change	-66.67%
5 Year Change	-81.48%
Change since IPO	-98.02%

Recent News & Updates

Recent updates

Shareholder Returns

	HEBANK	NO Consumer Finance	NO Market
7D	0%	-2.7%	-2.8%
1Y	-36.5%	10.2%	-0.8%

Return vs Industry: HEBANK underperformed the Norwegian Consumer Finance industry which returned 10.2% over the past year.

Return vs Market: HEBANK underperformed the Norwegian Market which returned -0.8% over the past year.

Price Volatility

Is HEBANK's price volatile compared to industry and market?
HEBANK volatility
HEBANK Average Weekly Movement	n/a
Consumer Finance Industry Average Movement	4.5%
Market Average Movement	5.0%
10% most volatile stocks in NO Market	10.9%
10% least volatile stocks in NO Market	2.6%

Stable Share Price: HEBANK's share price has been volatile over the past 3 months compared to the Norwegian market.

Volatility Over Time: Insufficient data to determine HEBANK's volatility change over the past year.

About the Company

Founded	Employees	CEO	Website
2015	14	Bent Gjendem	www.mybank.no

Heder Bank ASA provides banking products and services in Norway. It offers savings accounts; restart loans; and online banking services. Heder Bank ASA was formerly known as mybank ASA and changed its name to Heder Bank ASA in October 2024.

Heder Bank ASA Fundamentals Summary

How do Heder Bank's earnings and revenue compare to its market cap?
HEBANK fundamental statistics
Market cap	NOK 115.57m
Earnings (TTM)	-NOK 48.26m
Revenue (TTM)	NOK 9.97m

11.6x

P/S Ratio

-2.4x

P/E Ratio

Is HEBANK overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
HEBANK income statement (TTM)
Revenue	NOK 9.97m
Cost of Revenue	NOK 0
Gross Profit	NOK 9.97m
Other Expenses	NOK 58.23m
Earnings	-NOK 48.26m

Last Reported Earnings

Sep 30, 2024

Next Earnings Date

n/a

Earnings per share (EPS)	-4.18
Gross Margin	100.00%
Net Profit Margin	-484.24%
Debt/Equity Ratio	0%

How did HEBANK perform over the long term?

See historical performance and comparison

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/12/22 07:29
End of Day Share Price	2024/12/17 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

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.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* 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

Heder Bank ASA is covered by 0 analysts. 0 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution