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SBO

Selvaag BoligOB:SBO Stock Report

Market Cap

kr5.2b

7D

-1.3%

1Y

14.8%

Updated

24 Sep, 2021

Data

Company Financials +
SBO fundamental analysis
Snowflake Score
Valuation1/6
Future Growth0/6
Past Performance1/6
Financial Health3/6
Dividends2/6

SBO Overview

Selvaag Bolig ASA, a housing development company, engages in the construction and sale of residential properties in Greater Oslo, Bergen, Stavanger, Trondheim, and Stockholm.

Selvaag Bolig Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Selvaag Bolig
Historical stock prices
Current Share Pricekr55.00
52 Week Highkr44.35
52 Week Lowkr69.00
Beta0.72
1 Month Change-1.96%
3 Month Change-4.35%
1 Year Change14.82%
3 Year Change41.94%
5 Year Change36.14%
Change since IPO189.47%

Recent News & Updates

May 11
Calculating The Intrinsic Value Of Selvaag Bolig ASA (OB:SBO)

Calculating The Intrinsic Value Of Selvaag Bolig ASA (OB:SBO)

In this article we are going to estimate the intrinsic value of Selvaag Bolig ASA ( OB:SBO ) by estimating the...

Shareholder Returns

SBONO Real EstateNO Market
7D-1.3%-1.6%0.5%
1Y14.8%35.9%25.9%

Return vs Industry: SBO underperformed the Norwegian Real Estate industry which returned 35.1% over the past year.

Return vs Market: SBO underperformed the Norwegian Market which returned 22.8% over the past year.

Price Volatility

Is SBO's price volatile compared to industry and market?
SBO volatility
SBO Beta0.72
Industry Beta0.92
Market Beta1

Stable Share Price: SBO is less volatile than 75% of Norwegian stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: SBO's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
200885Sverre Molvikhttps://www.selvaagboligasa.no

Selvaag Bolig ASA, a housing development company, engages in the construction and sale of residential properties in Greater Oslo, Bergen, Stavanger, Trondheim, and Stockholm. The company offers its properties under the Start, Home, and Pluss brands. The company was incorporated in 2008 and is headquartered in Oslo, Norway.

Selvaag Bolig Fundamentals Summary

How do Selvaag Bolig's earnings and revenue compare to its market cap?
SBO fundamental statistics
Market Capkr5.17b
Earnings (TTM)kr479.43m
Revenue (TTM)kr3.01b

10.7x

P/E Ratio

1.7x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
SBO income statement (TTM)
Revenuekr3.01b
Cost of Revenuekr2.20b
Gross Profitkr808.99m
Expenseskr329.56m
Earningskr479.43m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

Nov 11, 2021

Earnings per share (EPS)5.14
Gross Margin26.86%
Net Profit Margin15.92%
Debt/Equity Ratio131.1%

How did SBO perform over the long term?

See historical performance and comparison

Dividends

9.1%

Current Dividend Yield

97%

Payout Ratio

Valuation

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

10.71x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: SBO (NOK55.4) is trading above our estimate of fair value (NOK33.06)

Significantly Below Fair Value: SBO is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: SBO is poor value based on its PE Ratio (10.8x) compared to the Norwegian Real Estate industry average (8.4x).

PE vs Market: SBO is good value based on its PE Ratio (10.8x) compared to the Norwegian market (13.2x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: SBO is overvalued based on its PB Ratio (2.3x) compared to the NO Real Estate industry average (1.2x).


Future Growth

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

-6.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SBO's earnings are forecast to decline over the next 3 years (-6.6% per year).

Earnings vs Market: SBO's earnings are forecast to decline over the next 3 years (-6.6% per year).

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

Revenue vs Market: SBO's revenue (2.5% per year) is forecast to grow slower than the Norwegian market (5.7% per year).

High Growth Revenue: SBO's revenue (2.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SBO's Return on Equity is forecast to be low in 3 years time (18.1%).


Past Performance

How has Selvaag Bolig performed over the past 5 years?

31.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SBO has a large one-off loss of NOK1.0B impacting its June 30 2021 financial results.

Growing Profit Margin: SBO's current net profit margins (15.9%) are lower than last year (57.7%).


Past Earnings Growth Analysis

Earnings Trend: SBO's earnings have grown significantly by 31.4% per year over the past 5 years.

Accelerating Growth: SBO's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: SBO had negative earnings growth (-70.7%) over the past year, making it difficult to compare to the Real Estate industry average (95.7%).


Return on Equity

High ROE: Whilst SBO's Return on Equity (20.95%) is high, this metric is skewed due to their high level of debt.


Financial Health

How is Selvaag Bolig's financial position?


Financial Position Analysis

Short Term Liabilities: SBO's short term assets (NOK5.3B) exceed its short term liabilities (NOK2.4B).

Long Term Liabilities: SBO's short term assets (NOK5.3B) exceed its long term liabilities (NOK1.8B).


Debt to Equity History and Analysis

Debt Level: SBO's debt to equity ratio (131.1%) is considered high.

Reducing Debt: SBO's debt to equity ratio has increased from 89.9% to 131.1% over the past 5 years.

Debt Coverage: SBO's debt is not well covered by operating cash flow (5.1%).

Interest Coverage: SBO's interest payments on its debt are well covered by EBIT (335.2x coverage).


Balance Sheet


Dividend

What is Selvaag Bolig current dividend yield, its reliability and sustainability?

9.09%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: SBO's dividend (9.03%) is higher than the bottom 25% of dividend payers in the Norwegian market (1.92%).

High Dividend: SBO's dividend (9.03%) is in the top 25% of dividend payers in the Norwegian market (5.09%)


Stability and Growth of Payments

Stable Dividend: SBO has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: SBO's dividend payments have increased, but the company has only paid a dividend for 8 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (97.5%), SBO's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: SBO's dividends in 3 years are not forecast to be well covered by earnings (98.5% payout ratio).


Next Steps

Management

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

0.8yrs

Average management tenure


CEO

Sverre Molvik (50 yo)

0.92

Tenure

kr7,665,000

Compensation

Mr. Sverre Molvik has been Chief Executive Officer of Selvaag Bolig ASA since October 19, 2020 and also served as its Chief Financial Officer since January 2021. He was Chief Financial Officer of Selvaag B...


CEO Compensation Analysis

Compensation vs Market: Sverre's total compensation ($USD893.45K) is above average for companies of similar size in the Norwegian market ($USD666.65K).

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


Leadership Team

Experienced Management: SBO's management team is not considered experienced ( 0.8 years average tenure), which suggests a new team.


Board Members

Experienced Board: SBO's board of directors are considered experienced (3.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: SBO 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

Selvaag Bolig ASA's employee growth, exchange listings and data sources


Key Information

  • Name: Selvaag Bolig ASA
  • Ticker: SBO
  • Exchange: OB
  • Founded: 2008
  • Industry: Real Estate Development
  • Sector: Real Estate
  • Market Cap: kr5.171b
  • Shares outstanding: 93.35m
  • Website: https://www.selvaagboligasa.no

Number of Employees


Location

  • Selvaag Bolig ASA
  • Silurveien 2
  • Oslo
  • Oslo
  • 380
  • Norway

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/09/24 16:21
End of Day Share Price2021/09/24 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.