Nidaros Sparebank (NISB) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Nidaros Sparebank stock NOK 204, price NOK 102, upside +100.0%, quality 59 out of 100. Rating: strongly undervalued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 4, 2026.
How to read this chart
60‑month range kr 73.80 – kr 114.00 · fair‑value band kr 153.03 – kr 255.05 · the kr 102.00 price screens below the kr 204.04 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 4, 2026.
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Nidaros Sparebank, a savings bank, provides banking services for private and corporate customers in Norway.
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It provides banking services, such as online and mobile banking, bank and credit cards, accounts, payment, BankID, and legal services; loan products that include mortgage, mortgages for young people, green mortgage, boat loan, car and other vehicles, and consumer loans and refinancing; and savings and retirement products, which include savings account, funds and shares, stock trading, pension, savings for children, and young housing savings.
The company also offers insurance products, such as car, boat, and vehicle; life and health; house, travel, and household items; and livestock, and young friend insurance products. Nidaros Sparebank was founded in 1857 and is based in Klæbu, Norway.
Stock analysis
Nidaros Sparebank (NISB) currently trades at kr 102.00, while our model-based Fair Value estimate is kr 204.04, implying the stock looks roughly 50% undervalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of kr 488.68 per share, and 5 of the 6 models we run sit above the kr 102.00 price.
Bear case: the Dividend Discount group reads lowest at kr 115.02, and 1 of the 6 models stay below the price. Data coverage for this calculation is medium.
Scenario range: kr 153.03 (bear) to kr 255.05 (bull), the price of kr 102.00 sits below 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 59/100 (solid quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Nidaros Sparebank reported revenue of 141M NOK in FY2025 versus 95.0M NOK in FY2021, a compound +10.3%/yr. Reported net income was 43.5M NOK in FY2025, compounding +9.8%/yr from FY2021.
Key figures
Market cap 115M NOK (≈ $12.2M) Micro · P/E ratio 19.8 · P/S ratio 6.12 · EPS (TTM) kr 5.15 · Dividend yield 5.6% · Net margin 30.9% · Return on equity 6.2% · Return on assets 0.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 64 out of 100 (low confidence).
What moves the price
The share trades about 11% below its 52-week high and 6% 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 100%, NISB screens cheaper than that median.
Fair Value models
Bearkr 153.03Fair Value kr 204.04Bullkr 255.05
Price kr 102.00 · Upside +100.0%
Capped: our models arrive at a very high value here. We deliberately show a more cautious Fair Value.
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.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.
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.81/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+1.7%
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.
+11.3%
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.
+8.2%
Start year 2020 (pandemic)
Revenue growth 7 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.
+7.4%
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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.
+12.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+7.0%
Dividend (yield on the price)5.6%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.7.0% vs −3.1%, picking up
Price, fair value, quality and upside side by side.
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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 5/10 measures
A mixed picture versus its industry peers.
Valuation
Quality Score59 · Above median
Fair Value upside+100.0% · Top 25%
Profitability
Return on equity (12 months)6.2% · Bottom 25%
Return on assets0.8% · Below median
Net margin (12 months)26.3% · Below median
Operating margin (12 months)30.8% · Below median
Growth and dividend
Revenue growth (quarter YoY)26.6% · Top 25%
Dividend yield (12 months)5.6% · Top 25%
Balance sheet
Debt / equity0.24× · Below median
Valuation Multiplesvs Banks - Regional median · lower = cheaper
P/E (12 months)19.8× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)100· sector 8
FUTURE (revenue growth)100· sector 47
PAST (return on equity)25· sector 43
HEALTH (low debt)–
DIVIDEND (yield)100· sector 53
HEALTH: for banks, insurers and similar financial firms borrowed money is part of the business, so we do not rate debt here.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Nidaros Sparebank Fair Value". https://www.fairvalue-calculator.com/stock/NISB
Frequently asked questions
Is Nidaros Sparebank (NISB) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of kr 204.04 versus a price of kr 102.00, about +100% upside (undervalued).
What is the fair value of NISB?
Our model-based fair value for Nidaros Sparebank is kr 204.04 (as of Nov 4, 2026), built from audited fundamentals. The current price: kr 102.00.
What is the quality score of NISB?
Nidaros Sparebank has a Quality Score of 59/100. 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 Nidaros Sparebank (NISB)?
Our model-based price target is the fair value of kr 204.04 (as of Nov 4, 2026) from 6 valuation models. Cautious scenario kr 153.03, optimistic scenario kr 255.05. It is a calculation from audited fundamentals, not an analyst target.
What is the Nidaros Sparebank stock forecast for 2026?
Our models put fair value at kr 204.04, about +100% upside versus a price of kr 102.00 (undervalued). Cautious scenario kr 153.03, optimistic scenario kr 255.05. The calculation is refreshed regularly with new filings.
What is the revenue of Nidaros Sparebank (NISB)?
Nidaros Sparebank reported trailing-twelve-month revenue of about 153M NOK (latest available figure, as of Nov 4, 2026).
Does Nidaros Sparebank pay a dividend?
Nidaros Sparebank currently shows a dividend yield of 5.64% relative to its recent price (as of Nov 4, 2026).
How much is the dividend of Nidaros Sparebank (NISB) and when is the ex-dividend date?
Nidaros Sparebank pays a dividend of kr 5.75 per share a year, a dividend yield of 5.6%. The last ex-dividend date was Mar 20, 2026. A dividend has been paid every year since at least 2020. The payout ratio is 112% of earnings. Our assessment: Payout strained. The dividend exceeds reported earnings (though reported profit is often depressed by one-off charges), and free cash flow only just covers it (or coverage is unknown). Not an emergency, but little room for error.
What is the intrinsic value of Nidaros Sparebank (NISB)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Nidaros Sparebank it is kr 204.04 per share (as of Nov 4, 2026), against a price of kr 102.00. It is the blended result of 6 valuation models in 4 families (Dividend Discount, Multiples, Asset-Based, Economic Profit).
Is Nidaros Sparebank stock overvalued or undervalued in 2026?
As of Nov 4, 2026, NISB trades below its calculated fair value: price kr 102.00, fair value kr 204.04, a gap of about +100% (undervalued). 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 NISB?
No. The price is what the market pays today (kr 102.00); the fair value is what the company's own numbers justify (kr 204.04). For Nidaros Sparebank the two are kr 102.04 per share apart. That gap is exactly why we show both numbers side by side.
How much is Nidaros Sparebank worth?
The market values Nidaros Sparebank at about 115M NOK (market capitalisation, as of Nov 4, 2026). Per share that is kr 102.00; our models calculate a fair value of kr 204.04 per share.
What do the bullish and bearish scenarios say about NISB?
Our models span a range for Nidaros Sparebank: cautious scenario kr 153.03, base kr 204.04, optimistic kr 255.05 per share (as of Nov 4, 2026, price kr 102.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of NISB?
Nidaros Sparebank trades at a price-to-earnings ratio of 19.8 (as of Nov 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 204.04 is built from several models across several years. Median P/E at fiscal year-end, 7 fiscal years (2019 to 2025), reported earnings: 3.8.
How solid is the balance sheet of Nidaros Sparebank (NISB)?
Balance-sheet figures for Nidaros Sparebank (as of Nov 4, 2026): return on equity 6.2%, debt of 0.24 per unit of equity. They feed the Quality Score of 59/100, which measures business quality independently of the share price.
How far is NISB from its 52-week high?
Nidaros Sparebank trades at kr 102.00, about 11% below its 52-week high of kr 114.00 and 6% above the low of kr 96.10 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of kr 204.04 is for.
Which stocks are comparable to Nidaros Sparebank?
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 Nidaros Sparebank stock attractive at the current price?
The data as of Nov 4, 2026: price kr 102.00, calculated fair value kr 204.04 (+100%), Quality Score 59/100, 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 NISB calculated?
We run Nidaros Sparebank 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 204.04 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. Nidaros Sparebank currently trades 50% below its own fair value, and the market average says nothing about that. 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 Nidaros Sparebank (NISB)?
The closing price on Nov 6, 2026 was kr 102.00. Our model-based fair value is kr 204.04, about +100% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Nidaros Sparebank right now?
The price is below even our cautious bear case (kr 153.03). The market is more pessimistic than our downside scenario. Solid quality (59/100) at a price below fair value, the discount is the argument here, not the business quality. 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 Nidaros Sparebank
How large is the market capitalisation of Nidaros Sparebank (NISB)?
The market capitalisation of Nidaros Sparebank is 115M NOK (≈ $12.2M). 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 Nidaros Sparebank (NISB)?
The price-to-sales ratio of Nidaros Sparebank is 6.12 (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 Nidaros Sparebank (NISB)?
Earnings per share at Nidaros Sparebank are kr 5.15 (price ÷ EPS = P/E 19.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Nidaros Sparebank (NISB)?
The dividend yield of Nidaros Sparebank is 5.6% (payout 112%). 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 Nidaros Sparebank (NISB)?
The net margin of Nidaros Sparebank is 30.9% (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 Nidaros Sparebank (NISB)?
The return on equity (ROE) of Nidaros Sparebank is 6.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the return on assets of Nidaros Sparebank (NISB)?
The return on assets (ROA) of Nidaros Sparebank is 0.7% (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 Nidaros Sparebank (NISB)?
The operating margin of Nidaros Sparebank is 30.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Nidaros Sparebank (NISB)?
Revenue at Nidaros Sparebank is growing +26.6% versus a year earlier (3y avg +11.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Nidaros Sparebank (NISB) generate?
The free cash flow of Nidaros Sparebank is 92.6M 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 Nidaros Sparebank (NISB) carry?
The net debt of Nidaros Sparebank is 978M NOK (fiscal year 2025, ≈ 10.6 yrs of FCF). 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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Nov 4, 2026