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Bien Sparebank ASA (BIEN) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of Bien Sparebank ASA stock NOK 108, price NOK 147, that is 26.7% below the price, quality 50 out of 100. Rating: overvalued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.

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Financial Services NO · ISIN NO0012706763

BS Bien Sparebank ASA logo Some data Nov 9, 2026

Bien Sparebank ASA

BIEN · OL
Solid, but expensive

Our calculation puts a fair price 27% below what the stock costs today.

Highly profitable · 37.2% net margin (TTM)
3.9% dividend yield · Sustainable
Quality 50/100
Expensive Growth (revenue 5y +12.0 %/yr in NOK)
Mixed vs. peers (5/12)
Wide moat 65/100 · thin data
Some data
Revenue last quarter 9% below a year ago.
Fair value kr 107.77 · Overvalued
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

kr 165.00 kr 71.79 Fair Value kr 107.77 Dec 2022 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 9, 2026.

How to read this chart

47‑month range kr 71.79 – kr 165.00 · fair‑value band kr 103.37 – kr 135.70 · the kr 147.00 price screens above the kr 107.77 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 9, 2026.

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Company profile

Bien Sparebank ASA operates as a savings bank that provides a range of banking and financial products and services to individuals and business customers in Norway and internationally. It operates through Retail Market and Corporate Market segments.

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The company offers banking services, such as bank cards, abroad payment, credit cards, account services, mobile banking and online banking services, and mobile payment solution; insurance products, including car, child, household items, house, travel, and dog insurance; and loan comprising car loan, mortgage, loans for motorcycle, motorhome, and ATVs; and senior loans.

It also provides saving and retirement solutions, which include bank savings, BSU savings, mutual fund savings, fund savings for children, micro savings, and retirement savings. Bien Sparebank ASA was founded in 1885 and is based in Oslo, Norway.

Stock analysis

Bien Sparebank ASA (BIEN) currently trades at kr 147.00, while our model-based Fair Value estimate is kr 107.77, 27% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of kr 169.60 per share, and 2 of the 6 models we run sit above the kr 147.00 price.

Bear case: the Dividend Discount group reads lowest at kr 60.80, and 4 of the 6 models stay below the price. Data coverage for this calculation is medium.

Scenario range: kr 103.37 (bear) to kr 135.70 (bull), the price of kr 147.00 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 50/100 (solid quality), in the Financial Services sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Bien Sparebank ASA reported revenue of 170M NOK in FY2025 versus 102M NOK in FY2021, a compound +13.7%/yr. Reported net income was 65.2M NOK in FY2025, compounding +22.0%/yr from FY2021.

Key figures

Market cap 835M NOK (≈ $88.5M) Micro · P/E ratio 18.7 · P/S ratio 7.16 · EPS (TTM) kr 7.85 · Dividend yield 3.9% · Net margin 38.3% · Return on equity 8.3% · Return on assets 1.0%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 65 out of 100 (low confidence).

What moves the price

The share trades about 11% below its 52-week high and 11% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −28% fair-value upside, at −27%, BIEN screens cheaper than that median.

Fair Value models

Bear kr 103.37 Fair Value kr 107.77 Bull kr 135.70
Price kr 147.00 · Downside -26.7%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (kr 1.82 per share) are deliberately not added. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
Residual Income kr 103.37 kr 107.77 kr 117.92 76
Gordon GGM kr 37.26 kr 62.40 kr 81.00 68
DDM Multi-Stage kr 37.26 kr 59.19 kr 67.14 67
All 6 models by family
Dividend Discount
Gordon GGM kr 37.26 kr 62.40 kr 81.00 68
DDM Multi-Stage kr 37.26 kr 59.19 kr 67.14 67
Multiples
P/E Multiple kr 111.91 kr 149.21 kr 186.52 63
P/B Multiple kr 142.48 kr 189.98 kr 237.47 55
Asset-Based
NCAV (Graham) kr 67.85 kr 90.92 kr 135.70 54
Economic Profit
Residual Income kr 103.37 kr 107.77 kr 117.92 76

Open the full fair value analysis →

Quality Score breakdown

Overall quality 50/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 41
How much profit the company makes from its sales and capital
Quality Growth 51
Are margins and returns getting better?
Cashflow 33
Do the profits arrive as real cash?
Financial strength 4
Debt, balance sheet and risk of trouble
Investment 78
Does it invest with discipline instead of growing at any price?
Low Volatility 91
How calm the share price moves, does not count
Price momentum 42
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 47
Distance to the 52-week high, does not count
New shares 82
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 59/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+11.3%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+12.9%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+12.0%
Start year 2020 (pandemic)
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+22.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+18.6%
Dividend (yield on the price)3.9%

BIEN screens overvalued: fair value 27% below the price. Compare with China Merchants Bank Co →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Banks - Regional · 996 stocks

Beats the industry median on 5/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 50 · Below median
Fair Value upside −26.7% · Below median
Profitability
Return on equity (12 months) 8.3% · Below median
Return on assets 1.1% · Above median
Net margin (12 months) 37.2% · Above median
Operating margin (12 months) 54.3% · Top 25%
Growth and dividend
Revenue growth (quarter YoY) −9.0% · Bottom 25%
Dividend yield (12 months) 3.9% · Above median
Balance sheet
Debt / equity 1.50× · Highest 25%

Valuation Multiplesvs Banks - Regional median · lower = cheaper

P/E (12 months) 18.7× · Priciest 25%
P/B 1.08× · Cheaper than median
P/S (12 months) 5.05× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 8
FUTURE (revenue growth)0 · sector 47
PAST (return on equity)33 · sector 43
HEALTH (low debt)–
DIVIDEND (yield)78 · sector 53

VALUE 0: the price sits above our fair-value range.

HEALTH: for banks, insurers and similar financial firms borrowed money is part of the business, so we do not rate debt here.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Banks - Regional stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Postal Savings Bank of China Co 601658 ¥5.53 ¥7.59 +37% vs BIEN
China Merchants Bank Co 600036 ¥42.88 ¥52.73 +23% vs BIEN
BNP Paribas SA BNP €91.93 €106.01 +15% vs BIEN
Intesa Sanpaolo S.p.A ISP €6.18 €4.49 −27% vs BIEN
State Bank of India SBIN ₹1,019 ₹736.65 −28% vs BIEN
UniCredit S.p.A UCG €76.80 €50.44 −34% vs BIEN
Mizuho Financial Group MFG $9.40 $5.89 −37% vs BIEN
DBS Group D05 69.72 SGD 40.39 SGD −42% vs BIEN
HDFC Bank Limited HDFCBANK ₹788.25 ₹406.39 −48% vs BIEN
ICICI Bank Limited ICICIBANK ₹1,571 ₹615.63 −61% vs BIEN

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Bien Sparebank ASA: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Bien Sparebank ASA Fair Value". https://www.fairvalue-calculator.com/stock/BIEN

Frequently asked questions

Is Bien Sparebank ASA (BIEN) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of kr 107.77 versus a price of kr 147.00, about 27% lower (overvalued).
What is the fair value of BIEN?
Our model-based fair value for Bien Sparebank ASA is kr 107.77 (as of Nov 9, 2026), built from audited fundamentals. The current price: kr 147.00.
What is the quality score of BIEN?
Bien Sparebank ASA has a Quality Score of 50/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Bien Sparebank ASA (BIEN)?
Our model-based price target is the fair value of kr 107.77 (as of Nov 9, 2026) from 6 valuation models. Cautious scenario kr 103.37, optimistic scenario kr 135.70. It is a calculation from audited fundamentals, not an analyst target.
What is the Bien Sparebank ASA stock forecast for 2026?
Our models put fair value at kr 107.77, about 27% lower versus a price of kr 147.00 (overvalued). Cautious scenario kr 103.37, optimistic scenario kr 135.70. The calculation is refreshed regularly with new filings.
What is the revenue of Bien Sparebank ASA (BIEN)?
Bien Sparebank ASA reported trailing-twelve-month revenue of about 165M NOK (latest available figure, as of Nov 9, 2026).
Does Bien Sparebank ASA pay a dividend?
Bien Sparebank ASA currently shows a dividend yield of 3.90% relative to its recent price (as of Nov 9, 2026).
How much is the dividend of Bien Sparebank ASA (BIEN) and when is the ex-dividend date?
Bien Sparebank ASA pays a dividend of kr 5.73 per share a year, a dividend yield of 3.9%. The last ex-dividend date was Apr 9, 2026. The payout ratio is 73.0% of earnings. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What is the intrinsic value of Bien Sparebank ASA (BIEN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Bien Sparebank ASA it is kr 107.77 per share (as of Nov 9, 2026), against a price of kr 147.00. It is the blended result of 6 valuation models in 4 families (Dividend Discount, Multiples, Asset-Based, Economic Profit).
Is Bien Sparebank ASA stock overvalued or undervalued in 2026?
As of Nov 9, 2026, BIEN trades above its calculated fair value: price kr 147.00, fair value kr 107.77, a gap of about −27% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of BIEN?
No. The price is what the market pays today (kr 147.00); the fair value is what the company's own numbers justify (kr 107.77). For Bien Sparebank ASA the two are kr 39.23 per share apart. That gap is exactly why we show both numbers side by side.
How much is Bien Sparebank ASA worth?
The market values Bien Sparebank ASA at about 835M NOK (market capitalisation, as of Nov 9, 2026). Per share that is kr 147.00; our models calculate a fair value of kr 107.77 per share.
What do the bullish and bearish scenarios say about BIEN?
Our models span a range for Bien Sparebank ASA: cautious scenario kr 103.37, base kr 107.77, optimistic kr 135.70 per share (as of Nov 9, 2026, price kr 147.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BIEN?
Bien Sparebank ASA trades at a price-to-earnings ratio of 18.7 (as of Nov 9, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 107.77 is built from several models across several years. Other multiples: P/B 1.1, P/S 5.1.
How solid is the balance sheet of Bien Sparebank ASA (BIEN)?
Balance-sheet figures for Bien Sparebank ASA (as of Nov 9, 2026): return on equity 8.3%, debt of 1.50 per unit of equity. They feed the Quality Score of 50/100, which measures business quality independently of the share price.
How far is BIEN from its 52-week high?
Bien Sparebank ASA trades at kr 147.00, about 11% below its 52-week high of kr 165.00 and 11% above the low of kr 132.89 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of kr 107.77 is for.
Which stocks are comparable to Bien Sparebank ASA?
From the same area (Financial Services) we also value China Merchants Bank Co, DBS Group, UniCredit S.p.A, Mizuho Financial Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Bien Sparebank ASA stock attractive at the current price?
The data as of Nov 9, 2026: price kr 147.00, calculated fair value kr 107.77 (−27%), Quality Score 50/100, from 6 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of BIEN calculated?
We run Bien Sparebank ASA through 6 models from 4 families: Dividend Discount, Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of kr 107.77 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Bien Sparebank ASA itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Bien Sparebank ASA (BIEN)?
The closing price on Nov 6, 2026 was kr 147.00. Our model-based fair value is kr 107.77, about 27% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Bien Sparebank ASA right now?
The price sits above even our optimistic bull case (kr 135.70). The favourable scenario is already priced in. Solid but not exceptional quality (50/100) and above fair value, neither a clear bargain nor a standout compounder. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Key figures of Bien Sparebank ASA

How large is the market capitalisation of Bien Sparebank ASA (BIEN)?
The market capitalisation of Bien Sparebank ASA is 835M NOK (≈ $88.5M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Bien Sparebank ASA (BIEN)?
The price-to-sales ratio of Bien Sparebank ASA is 7.16 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Bien Sparebank ASA (BIEN)?
Earnings per share at Bien Sparebank ASA are kr 7.85 (price ÷ EPS = P/E 18.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Bien Sparebank ASA (BIEN)?
The dividend yield of Bien Sparebank ASA is 3.9% (payout 73.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Bien Sparebank ASA (BIEN)?
The net margin of Bien Sparebank ASA is 38.3% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Bien Sparebank ASA (BIEN)?
The return on equity (ROE) of Bien Sparebank ASA is 8.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the return on assets of Bien Sparebank ASA (BIEN)?
The return on assets (ROA) of Bien Sparebank ASA is 1.0% (last twelve months). Profit relative to everything the company owns. Harder to inflate than return on equity because debt does not boost it.
What is the operating margin of Bien Sparebank ASA (BIEN)?
The operating margin of Bien Sparebank ASA is 54.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Bien Sparebank ASA (BIEN)?
Revenue at Bien Sparebank ASA is growing −9.0% versus a year earlier (3y avg +12.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Bien Sparebank ASA (BIEN)?
Earnings per share at Bien Sparebank ASA are growing −15.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Bien Sparebank ASA (BIEN) generate?
The free cash flow of Bien Sparebank ASA is −155M NOK (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Bien Sparebank ASA (BIEN) carry?
The net debt of Bien Sparebank ASA is 1.3B NOK (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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