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Skjern Bank A/S (SKJE) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of Skjern Bank A/S stock DKK 258, price DKK 399, that is 35.3% below the price, quality 63 out of 100. Rating: strongly overvalued. Calculated from audited financials with 4 of our 26 valuation models and 37 quality factors, updated daily.

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Financial Services DK · ISIN DK0010295922

SB Skjern Bank A/S logo Some data Nov 9, 2026

Skjern Bank A/S

SKJE · CO
Solid, but very expensive

Our calculation puts a fair price 35% below what the stock costs today.

Quality 63/100
Highly profitable · 38.2% net margin (TTM)
0.9% dividend yield · Low payout
Expensive Growth (revenue 5y +13.3 %/yr in DKK)
Mixed vs. peers (7/13)
Wide moat 70/100 · thin data
Some data
Fair value kr 257.96 · Strongly 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 446.50 kr 81.87 Fair Value kr 257.96 Aug 2021 Nov 2026

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

How to read this chart

60‑month range kr 81.87 – kr 446.50 · fair‑value band kr 193.47 – kr 322.44 · the kr 399.00 price screens above the kr 257.96 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

Skjern Bank A/S provides various banking products and services to private and corporate customers in Denmark.

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The company offers savings, currency, share savings, and retirement savings accounts; term deposits; mortgage/home, cooperative housing, home construction/renovation/extension, business, and car loans; loans for electric cars, energy optimization, and renewable energy; debit and credit cards; annuity, self, sports, installment, and termination pension; online and mobile banking; mobile payment; and death, health, critical illness, accident, family contents, home, car, travel, group, and salary protection insurance products.

It also provides payroll and personnel solutions; eInvoice; international debt collection; letters of credit; foreign payments and guarantees; investment funds; and wealth advice and asset management services.

In addition, the company trades in stocks, bonds, and investment funds; and invests in securities. Skjern Bank A/S was founded in 1906 and is headquartered in Skjern, Denmark.

Stock analysis

Skjern Bank A/S (SKJE) currently trades at kr 399.00, while our model-based Fair Value estimate is kr 257.96, 35% 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 257.96 per share, and 0 of the 4 models we run sit above the kr 399.00 price.

Bear case: the Asset-Based group reads lowest at kr 141.24, and 4 of the 4 models stay below the price. Data coverage for this calculation is medium.

Scenario range: kr 193.47 (bear) to kr 322.44 (bull), the price of kr 399.00 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 63/100 (solid quality), in the Financial Services sector.

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

Skjern Bank A/S reported revenue of 739M DKK in FY2025 versus 423M DKK in FY2021, a compound +15.0%/yr. Reported net income was 246M DKK in FY2025, compounding +10.8%/yr from FY2021.

Key figures

Market cap 3.8B DKK (≈ $563M) Small · P/E ratio 14.9 · P/S ratio 5.33 · EPS (TTM) kr 26.85 · Dividend yield 0.9% · Net margin 38.2% · Return on equity 13.6% · Return on assets (EBIT) 2.3% (5-year average).

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 70 out of 100 (low confidence).

What moves the price

The share trades about 11% below its 52-week high and 71% 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 −35%, SKJE screens richer than that median.

Fair Value models

Bear kr 193.47 Fair Value kr 257.96 Bull kr 322.44
Price kr 399.00 · Downside -35.3%
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 20.02 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 194.61 kr 226.62 kr 307.35 71
P/E Multiple kr 255.55 kr 340.73 kr 425.91 63
P/B Multiple kr 131.38 kr 175.18 kr 218.97 55
All 4 models by family
Multiples
P/E Multiple kr 255.55 kr 340.73 kr 425.91 63
P/B Multiple kr 131.38 kr 175.18 kr 218.97 55
Asset-Based
NCAV (Graham) kr 105.40 kr 141.24 kr 210.80 54
Economic Profit
Residual Income kr 194.61 kr 226.62 kr 307.35 71

Open the full fair value analysis →

Quality Score breakdown

Overall quality 63/100

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

Profitability 37
How much profit the company makes from its sales and capital
Quality Growth 46
Are margins and returns getting better?
Cashflow 39
Do the profits arrive as real cash?
Financial strength 94
Debt, balance sheet and risk of trouble
Investment 58
Does it invest with discipline instead of growing at any price?
Low Volatility 83
How calm the share price moves, does not count
Price momentum 78
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 89
Distance to the 52-week high, does not count
New shares 90
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. 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−5.1%
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.
+17.7%
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.
+13.3%
Start year 2020 (pandemic). Over 10 years: +8.6% a year
Revenue growth 25 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.
+7.1%
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.
+13.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+13.0%
Dividend (yield on the price)0.9%
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.13.0% vs 15.1%, steady
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.36% → 47%
Pace: the 5-year rate starts in 2020 (pandemic)

SKJE screens overvalued: fair value 35% 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 7/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 63 · Top 25%
Fair Value upside −35.3% · Bottom 25%
Profitability
Return on equity (12 months) 13.6% · Above median
Return on assets 1.6% · Top 25%
Net margin (12 months) 38.2% · Above median
Operating margin (12 months) 49.0% · Above median
Growth and dividend
Revenue growth (quarter YoY) 10.8% · Above median
Dividend yield (12 months) 0.9% · Bottom 25%
Balance sheet
Debt / equity 0.05× · Lowest 25%

Valuation Multiplesvs Banks - Regional median · lower = cheaper

P/E (12 months) 14.9× · Priciest 25%
P/B 1.90× · Priciest 25%
P/S (12 months) 5.33× · Priciest 25%
Price / free cash flow (fiscal year) 122.6× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 8
FUTURE (revenue growth)54 · sector 47
PAST (return on equity)55 · sector 43
HEALTH (low debt)–
DIVIDEND (yield)18 · 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 SKJE
China Merchants Bank Co 600036 ¥42.88 ¥52.73 +23% vs SKJE
BNP Paribas SA BNP €91.93 €106.01 +15% vs SKJE
Intesa Sanpaolo S.p.A ISP €6.18 €4.49 −27% vs SKJE
State Bank of India SBIN ₹1,019 ₹736.65 −28% vs SKJE
UniCredit S.p.A UCG €76.80 €50.44 −34% vs SKJE
Mizuho Financial Group MFG $9.40 $5.89 −37% vs SKJE
DBS Group D05 69.72 SGD 40.39 SGD −42% vs SKJE
HDFC Bank Limited HDFCBANK ₹788.25 ₹406.39 −48% vs SKJE
ICICI Bank Limited ICICIBANK ₹1,571 ₹615.63 −61% vs SKJE

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Skjern Bank A/S: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Skjern Bank A/S Fair Value". https://www.fairvalue-calculator.com/stock/SKJE

Frequently asked questions

Is Skjern Bank A/S (SKJE) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of kr 257.96 versus a price of kr 399.00, about 35% lower (overvalued).
What is the fair value of SKJE?
Our model-based fair value for Skjern Bank A/S is kr 257.96 (as of Nov 9, 2026), built from audited fundamentals. The current price: kr 399.00.
What is the quality score of SKJE?
Skjern Bank A/S has a Quality Score of 63/100. 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 Skjern Bank A/S (SKJE)?
Our model-based price target is the fair value of kr 257.96 (as of Nov 9, 2026) from 4 valuation models. Cautious scenario kr 193.47, optimistic scenario kr 322.44. It is a calculation from audited fundamentals, not an analyst target.
What is the Skjern Bank A/S stock forecast for 2026?
Our models put fair value at kr 257.96, about 35% lower versus a price of kr 399.00 (overvalued). Cautious scenario kr 193.47, optimistic scenario kr 322.44. The calculation is refreshed regularly with new filings.
What is the revenue of Skjern Bank A/S (SKJE)?
Skjern Bank A/S reported trailing-twelve-month revenue of about 705M DKK (latest available figure, as of Nov 9, 2026).
Does Skjern Bank A/S pay a dividend?
Skjern Bank A/S currently shows a dividend yield of 0.88% relative to its recent price (as of Nov 9, 2026).
How much is the dividend of Skjern Bank A/S (SKJE) and when is the ex-dividend date?
Skjern Bank A/S pays a dividend of kr 3.50 per share a year, a dividend yield of 0.9%. The last ex-dividend date was Mar 3, 2026. A dividend has been paid every year since 2019. The payout ratio is 13.0% of earnings. Our assessment: Low payout. A low payout ratio: the dividend takes at most 60 % of earnings. Whether free cash flow covers it as well, we cannot see for this company.
What is the intrinsic value of Skjern Bank A/S (SKJE)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Skjern Bank A/S it is kr 257.96 per share (as of Nov 9, 2026), against a price of kr 399.00. It is the blended result of 4 valuation models in 3 families (Multiples, Asset-Based, Economic Profit).
Is Skjern Bank A/S stock overvalued or undervalued in 2026?
As of Nov 9, 2026, SKJE trades above its calculated fair value: price kr 399.00, fair value kr 257.96, a gap of about −35% (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 SKJE?
No. The price is what the market pays today (kr 399.00); the fair value is what the company's own numbers justify (kr 257.96). For Skjern Bank A/S the two are kr 141.04 per share apart. That gap is exactly why we show both numbers side by side.
How much is Skjern Bank A/S worth?
The market values Skjern Bank A/S at about 3.8B DKK (market capitalisation, as of Nov 9, 2026). Per share that is kr 399.00; our models calculate a fair value of kr 257.96 per share.
What do the bullish and bearish scenarios say about SKJE?
Our models span a range for Skjern Bank A/S: cautious scenario kr 193.47, base kr 257.96, optimistic kr 322.44 per share (as of Nov 9, 2026, price kr 399.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SKJE?
Skjern Bank A/S trades at a price-to-earnings ratio of 14.9 (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 257.96 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 6.0. Other multiples: P/B 1.9, P/S 5.3.
How solid is the balance sheet of Skjern Bank A/S (SKJE)?
Balance-sheet figures for Skjern Bank A/S (as of Nov 9, 2026): return on equity 13.6%, debt of 0.05 per unit of equity. They feed the Quality Score of 63/100, which measures business quality independently of the share price.
How far is SKJE from its 52-week high?
Skjern Bank A/S trades at kr 399.00, about 11% below its 52-week high of kr 446.50 and 71% above the low of kr 232.67 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of kr 257.96 is for.
Which stocks are comparable to Skjern Bank A/S?
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 Skjern Bank A/S stock attractive at the current price?
The data as of Nov 9, 2026: price kr 399.00, calculated fair value kr 257.96 (−35%), Quality Score 63/100, from 4 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 SKJE calculated?
We run Skjern Bank A/S through 4 models from 3 families: Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of kr 257.96 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. Skjern Bank A/S 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 Skjern Bank A/S (SKJE)?
The closing price on Nov 6, 2026 was kr 399.00. Our model-based fair value is kr 257.96, about 35% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Skjern Bank A/S right now?
The price sits above even our optimistic bull case (kr 322.44). The favourable scenario is already priced in. Solid but not exceptional quality (63/100) 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.
Where does the earnings growth of Skjern Bank A/S (SKJE) come from?
Earnings per share at Skjern Bank A/S grew +18.6 % a year from 2015 to 2025. Broken into its drivers: revenue per share +10.2 %, EBIT margin +8.5 %, tax rate −0.7 %, residual (interest, one-offs) +0.0 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.

Key figures of Skjern Bank A/S

How large is the market capitalisation of Skjern Bank A/S (SKJE)?
The market capitalisation of Skjern Bank A/S is 3.8B DKK (≈ $563M). 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 Skjern Bank A/S (SKJE)?
The price-to-sales ratio of Skjern Bank A/S is 5.33 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Skjern Bank A/S (SKJE)?
Earnings per share at Skjern Bank A/S are kr 26.85 (price ÷ EPS = P/E 14.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Skjern Bank A/S (SKJE)?
The dividend yield of Skjern Bank A/S is 0.9% (payout 13.0%). 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 Skjern Bank A/S (SKJE)?
The net margin of Skjern Bank A/S is 38.2% (last twelve months). 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 Skjern Bank A/S (SKJE)?
The return on equity (ROE) of Skjern Bank A/S is 13.6% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Skjern Bank A/S (SKJE)?
On an EBIT basis the return on assets of Skjern Bank A/S is 2.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Skjern Bank A/S (SKJE)?
The operating margin of Skjern Bank A/S is 49.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Skjern Bank A/S (SKJE)?
Revenue at Skjern Bank A/S is growing +10.8% versus a year earlier (3y avg +17.7%). 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 Skjern Bank A/S (SKJE)?
Earnings per share at Skjern Bank A/S are growing +12.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Skjern Bank A/S (SKJE) generate?
The free cash flow of Skjern Bank A/S is 30.7M DKK (fiscal year 2023). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Skjern Bank A/S (SKJE) hold?
Skjern Bank A/S holds more cash than debt, 4.4B DKK net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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