STB

StorebrandOB:STB Stock Report

Market Cap

kr36.8b

7D

2.7%

1Y

54.9%

Updated

18 Sep, 2021

Data

Company Financials +
STB fundamental analysis
Snowflake Score
Valuation3/6
Future Growth0/6
Past Performance4/6
Financial Health1/6
Dividends4/6

STB Overview

Storebrand ASA, through its subsidiaries, primarily provides insurance products and services in Norway and Sweden.

Storebrand Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Storebrand
Historical stock prices
Current Share Pricekr78.98
52 Week Highkr46.39
52 Week Lowkr88.62
Beta1.52
1 Month Change0.48%
3 Month Change0.97%
1 Year Change54.86%
3 Year Change7.22%
5 Year Change101.79%
Change since IPO56.40%

Recent News & Updates

Shareholder Returns

STBNO InsuranceNO Market
7D2.7%-0.6%-0.5%
1Y54.9%18.5%20.4%

Return vs Industry: STB exceeded the Norwegian Insurance industry which returned 18.5% over the past year.

Return vs Market: STB exceeded the Norwegian Market which returned 20.4% over the past year.

Price Volatility

Is STB's price volatile compared to industry and market?
STB volatility
STB Beta1.52
Industry Beta1.12
Market Beta1

Stable Share Price: STB is less volatile than 75% of Norwegian stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: STB's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
17671,824Odd Grefstadhttps://www.storebrand.no

Storebrand ASA, through its subsidiaries, primarily provides insurance products and services in Norway and Sweden. The company operates through four segments: Savings, Insurance, Guaranteed Pension, and Other. The Savings segment offers retirement savings, defined contribution pensions, asset management, and retail banking products.

Valuation

Is Storebrand undervalued compared to its fair value and its price relative to the market?

25.5%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: STB (NOK78.98) is trading below our estimate of fair value (NOK106.02)

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


Price To Earnings Ratio

PE vs Industry: STB is poor value based on its PE Ratio (11.3x) compared to the European Insurance industry average (11.1x).

PE vs Market: STB is good value based on its PE Ratio (11.3x) compared to the Norwegian market (13.6x).


Price to Earnings Growth Ratio

PEG Ratio: STB's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: STB's PB Ratio (1x) is in line with the XE Insurance industry average.


Future Growth

How is Storebrand forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

-0.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: STB's earnings are forecast to decline over the next 3 years (-0.8% per year).

Earnings vs Market: STB's earnings are forecast to decline over the next 3 years (-0.8% per year).

High Growth Earnings: STB's earnings are forecast to decline over the next 3 years.

Revenue vs Market: STB's revenue is expected to decline over the next 3 years (-50.4% per year).

High Growth Revenue: STB's revenue is forecast to decline over the next 3 years (-50.4% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: STB's Return on Equity is forecast to be low in 3 years time (6.8%).


Past Performance

How has Storebrand performed over the past 5 years?

3.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: STB has high quality earnings.

Growing Profit Margin: STB's current net profit margins (2.7%) are lower than last year (2.9%).


Past Earnings Growth Analysis

Earnings Trend: STB's earnings have grown by 3.6% per year over the past 5 years.

Accelerating Growth: STB's earnings growth over the past year (76.6%) exceeds its 5-year average (3.6% per year).

Earnings vs Industry: STB earnings growth over the past year (76.6%) exceeded the Insurance industry 12.4%.


Return on Equity

High ROE: STB's Return on Equity (9.1%) is considered low.


Financial Health

How is Storebrand's financial position?


Financial Position Analysis

Short Term Liabilities: STB's short term assets (NOK17.7B) do not cover its short term liabilities (NOK33.2B).

Long Term Liabilities: STB's short term assets (NOK17.7B) do not cover its long term liabilities (NOK708.4B).


Debt to Equity History and Analysis

Debt Level: STB's debt to equity ratio (98%) is considered high.

Reducing Debt: STB's debt to equity ratio has increased from 91.9% to 98% over the past 5 years.

Debt Coverage: STB's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: STB's interest payments on its debt are well covered by EBIT (5.4x coverage).


Balance Sheet


Dividend

What is Storebrand current dividend yield, its reliability and sustainability?

4.11%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: STB's dividend (4.11%) is higher than the bottom 25% of dividend payers in the Norwegian market (1.81%).

High Dividend: STB's dividend (4.11%) is low compared to the top 25% of dividend payers in the Norwegian market (5.08%).


Stability and Growth of Payments

Stable Dividend: STB's dividend payments have been volatile in the past 10 years.

Growing Dividend: STB's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (46.8%), STB's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: STB's dividends in 3 years are forecast to be covered by earnings (67% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.1yrs

Average management tenure


CEO

Odd Grefstad (56 yo)

9.25yrs

Tenure

kr9,033,000

Compensation

Mr. Odd Arild Grefstad has been Chief Executive Officer of Storebrand ASA since June 1, 2012 and also served as its Managing Director. Mr. Grefstad served as the Chairman of the Board of Directors at Skage...


CEO Compensation Analysis

Compensation vs Market: Odd's total compensation ($USD1.04M) is about average for companies of similar size in the Norwegian market ($USD805.81K).

Compensation vs Earnings: Odd's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: STB's management team is considered experienced (2.1 years average tenure).


Board Members

Experienced Board: STB's board of directors are not considered experienced ( 2.5 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: STB 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

Storebrand ASA's employee growth, exchange listings and data sources


Key Information

  • Name: Storebrand ASA
  • Ticker: STB
  • Exchange: OB
  • Founded: 1767
  • Industry: Life and Health Insurance
  • Sector: Insurance
  • Market Cap: kr36.803b
  • Shares outstanding: 465.97m
  • Website: https://www.storebrand.no

Number of Employees


Location

  • Storebrand ASA
  • Professor Kohts vei 9
  • P.O. Box 500
  • Lysaker
  • Akershus
  • 1327
  • Norway

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/09/18 16:21
End of Day Share Price2021/09/17 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


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.