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Rogaland Sparebank (ROGS) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of Rogaland Sparebank stock NOK 258, price NOK 151, upside +70.1%, quality 38 out of 100. Rating: strongly undervalued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.

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Financial Services NO

RS Rogaland Sparebank logo Some data Nov 5, 2026

Rogaland Sparebank

ROGS · OL
Cheap, value-trap risk

The stock costs 41% less than our calculation considers fair.

Fair value kr 257.62 · Strongly undervalued
Highly profitable · 49.9% net margin (TTM)
Ranks above peers (8/12)
Last quarter vs. a year ago: revenue +20%, profit +49%.
Expensive Growth (revenue 3y +16.9 %/yr in NOK)
7.7% dividend yield · Watch coverage
Moderate moat 64/100 · thin data
Some data
Quality 38/100
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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 153.92 kr 64.32 Fair Value kr 257.62 Jul 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.

How to read this chart

60‑month range kr 64.32 – kr 153.92 · fair‑value band kr 173.81 – kr 341.38 · the kr 151.48 price screens below the kr 257.62 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.

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Company profile

Rogaland Sparebank, an independent savings bank, provides various banking and investment products to retail and corporate customers in Norway. The company operates through three segments: Personal Market, Corporate Market, and Real Estate.

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The company offers bank, BSU, mutual fund, and retirement savings account; fixed rate deposits; deposit, disability insurance plans, disability pension, and pension.

It also provides car, child, household items, house, travel, dog, vehicle, agriculture, and company and employees insurance products; car and mortgage loans, consumer loans, green energy loans, loans for motorcycle, motorhomes, and ATVs, refinancing consumer debt; and bank guarantee, business loans, construction loan, factoring and invoice management, overdraft, and leasing services.

In addition, the company offers bank and credit cards; mobile and online banking services; and mobile payment services. Further, it provides real estate brokerage and general investment advice services.

The company was formerly known as Sandnes Sparebank and changed its name to Rogaland Sparebank in August 2024. Rogaland Sparebank was founded in 1875 and is headquartered in Sandnes, Norway.

Stock analysis

Rogaland Sparebank (ROGS) currently trades at kr 151.48, while our model-based Fair Value estimate is kr 257.62, implying the stock looks roughly 41% undervalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of kr 273.10 per share, and 5 of the 6 models we run sit above the kr 151.48 price.

Bear case: the Asset-Based group reads lowest at kr 132.13, and 1 of the 6 models stay below the price. Data coverage for this calculation is medium.

Scenario range: kr 173.81 (bear) to kr 341.38 (bull), the price of kr 151.48 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 38/100 (below-average quality), in the Financial Services sector.

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

Rogaland Sparebank reported revenue of 1.0B NOK in FY2025 versus 645M NOK in FY2022, a compound +16.9%/yr. Reported net income was 480M NOK in FY2025, compounding +21.7%/yr from FY2022.

Key figures

Market cap 3.5B NOK (≈ $369M) Small · P/E ratio 11.4 · P/S ratio 5.30 · EPS (TTM) kr 13.33 · Dividend yield 7.7% · Net margin 46.6% · Return on equity 11.8% · Return on assets 1.2%.

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 2% below its 52-week high and 21% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −28% fair-value upside, at 70%, ROGS screens cheaper than that median.

Fair Value models

Bear kr 173.81 Fair Value kr 257.62 Bull kr 341.38
Price kr 151.48 · Upside +70.1%
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 1.40 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 173.81 kr 192.79 kr 233.65 73
Gordon GGM kr 130.56 kr 257.62 kr 386.17 64
DDM Multi-Stage kr 130.56 kr 223.88 kr 272.28 64
All 6 models by family
Dividend Discount
Gordon GGM kr 130.56 kr 257.62 kr 386.17 64
DDM Multi-Stage kr 130.56 kr 223.88 kr 272.28 64
Multiples
P/E Multiple kr 202.58 kr 270.10 kr 337.63 63
P/B Multiple kr 207.07 kr 276.10 kr 345.12 55
Asset-Based
NCAV (Graham) kr 98.61 kr 132.13 kr 197.21 54
Economic Profit
Residual Income kr 173.81 kr 192.79 kr 233.65 73

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Quality Score breakdown

Overall quality 38/100

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

Profitability 43
How much profit the company makes from its sales and capital
Quality Growth 45
Are margins and returns getting better?
Cashflow 0
Do the profits arrive as real cash?
Financial strength 2
Debt, balance sheet and risk of trouble
Investment 64
Does it invest with discipline instead of growing at any price?
Low Volatility 100
How calm the share price moves, does not count
Price momentum 49
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 73
Distance to the 52-week high, does not count
New shares 64
Buys back shares or issues new ones?

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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. 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+6.2%
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.
+16.9%
What shareholders gained per year (last 3 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 3 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.
+21.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+13.6%
Dividend (yield on the price)7.7%

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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 8/12 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 38 · Bottom 25%
Fair Value upside +70.1% · Top 25%
Profitability
Return on equity (12 months) 11.8% · Above median
Return on assets 1.1% · Above median
Net margin (12 months) 49.9% · Top 25%
Operating margin (12 months) 69.3% · Top 25%
Growth and dividend
Revenue growth (quarter YoY) 20.4% · Top 25%
Dividend yield (12 months) 7.7% · Top 25%
Balance sheet
Debt / equity 4.47× · Highest 25%

Valuation Multiplesvs Banks - Regional median · lower = cheaper

P/E (12 months) 11.4× · Pricier than median
P/B 0.77× · Cheapest 25%
P/S (12 months) 3.53× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 8
FUTURE (revenue growth)100 · sector 47
PAST (return on equity)47 · 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.

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

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Rogaland Sparebank: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Rogaland Sparebank Fair Value". https://www.fairvalue-calculator.com/stock/ROGS

Frequently asked questions

Is Rogaland Sparebank (ROGS) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of kr 257.62 versus a price of kr 151.48, about +70% upside (undervalued).
What is the fair value of ROGS?
Our model-based fair value for Rogaland Sparebank is kr 257.62 (as of Nov 5, 2026), built from audited fundamentals. The current price: kr 151.48.
What is the quality score of ROGS?
Rogaland Sparebank has a Quality Score of 38/100. 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 Rogaland Sparebank (ROGS)?
Our model-based price target is the fair value of kr 257.62 (as of Nov 5, 2026) from 6 valuation models. Cautious scenario kr 173.81, optimistic scenario kr 341.38. It is a calculation from audited fundamentals, not an analyst target.
What is the Rogaland Sparebank stock forecast for 2026?
Our models put fair value at kr 257.62, about +70% upside versus a price of kr 151.48 (undervalued). Cautious scenario kr 173.81, optimistic scenario kr 341.38. The calculation is refreshed regularly with new filings.
What is the revenue of Rogaland Sparebank (ROGS)?
Rogaland Sparebank reported trailing-twelve-month revenue of about 988M NOK (latest available figure, as of Nov 5, 2026).
Does Rogaland Sparebank pay a dividend?
Rogaland Sparebank currently shows a dividend yield of 7.72% relative to its recent price (as of Nov 5, 2026).
How much is the dividend of Rogaland Sparebank (ROGS) and when is the ex-dividend date?
Rogaland Sparebank pays a dividend of kr 11.70 per share a year, a dividend yield of 7.7%. The last ex-dividend date was Mar 26, 2026. A dividend has been paid every year since 2022. The payout ratio is 87.8% of earnings. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What is the intrinsic value of Rogaland Sparebank (ROGS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Rogaland Sparebank it is kr 257.62 per share (as of Nov 5, 2026), against a price of kr 151.48. It is the blended result of 6 valuation models in 4 families (Dividend Discount, Multiples, Asset-Based, Economic Profit).
Is Rogaland Sparebank stock overvalued or undervalued in 2026?
As of Nov 5, 2026, ROGS trades below its calculated fair value: price kr 151.48, fair value kr 257.62, a gap of about +70% (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 ROGS?
No. The price is what the market pays today (kr 151.48); the fair value is what the company's own numbers justify (kr 257.62). For Rogaland Sparebank the two are kr 106.14 per share apart. That gap is exactly why we show both numbers side by side.
How much is Rogaland Sparebank worth?
The market values Rogaland Sparebank at about 3.5B NOK (market capitalisation, as of Nov 5, 2026). Per share that is kr 151.48; our models calculate a fair value of kr 257.62 per share.
What do the bullish and bearish scenarios say about ROGS?
Our models span a range for Rogaland Sparebank: cautious scenario kr 173.81, base kr 257.62, optimistic kr 341.38 per share (as of Nov 5, 2026, price kr 151.48). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ROGS?
Rogaland Sparebank trades at a price-to-earnings ratio of 11.4 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 257.62 is built from several models across several years. Other multiples: P/B 0.8, P/S 3.5.
How solid is the balance sheet of Rogaland Sparebank (ROGS)?
Balance-sheet figures for Rogaland Sparebank (as of Nov 5, 2026): return on equity 11.8%, debt of 4.47 per unit of equity. They feed the Quality Score of 38/100, which measures business quality independently of the share price.
How far is ROGS from its 52-week high?
Rogaland Sparebank trades at kr 151.48, about 2% below its 52-week high of kr 153.92 and 21% above the low of kr 124.88 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of kr 257.62 is for.
Which stocks are comparable to Rogaland 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 Rogaland Sparebank stock attractive at the current price?
The data as of Nov 5, 2026: price kr 151.48, calculated fair value kr 257.62 (+70%), Quality Score 38/100, 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 ROGS calculated?
We run Rogaland 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 257.62 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. Rogaland Sparebank currently trades 41% 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 Rogaland Sparebank (ROGS)?
The closing price on Nov 6, 2026 was kr 151.48. Our model-based fair value is kr 257.62, about +70% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Rogaland Sparebank right now?
The large discount to fair value meets weak quality (38/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (kr 173.81). The market is more pessimistic than our downside scenario. A fairly wide model range (kr 173.81 to kr 341.38) leaves room in how you read the outcome. 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 Rogaland Sparebank

How large is the market capitalisation of Rogaland Sparebank (ROGS)?
The market capitalisation of Rogaland Sparebank is 3.5B NOK (≈ $369M). 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 Rogaland Sparebank (ROGS)?
The price-to-sales ratio of Rogaland Sparebank is 5.30 (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 Rogaland Sparebank (ROGS)?
Earnings per share at Rogaland Sparebank are kr 13.33 (price ÷ EPS = P/E 11.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Rogaland Sparebank (ROGS)?
The dividend yield of Rogaland Sparebank is 7.7% (payout 87.8%). 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 Rogaland Sparebank (ROGS)?
The net margin of Rogaland Sparebank is 46.6% (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 Rogaland Sparebank (ROGS)?
The return on equity (ROE) of Rogaland Sparebank is 11.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the return on assets of Rogaland Sparebank (ROGS)?
The return on assets (ROA) of Rogaland Sparebank is 1.2% (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 Rogaland Sparebank (ROGS)?
The operating margin of Rogaland Sparebank is 69.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Rogaland Sparebank (ROGS)?
Revenue at Rogaland Sparebank is growing +20.4% versus a year earlier (3y avg +16.9%). 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 Rogaland Sparebank (ROGS)?
Earnings per share at Rogaland Sparebank are growing +48.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Rogaland Sparebank (ROGS) generate?
The free cash flow of Rogaland Sparebank is −1.6B 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 Rogaland Sparebank (ROGS) carry?
The net debt of Rogaland Sparebank is 20.1B 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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