Sparebank 1 Nordvest (SNOR) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Sparebank 1 Nordvest stock NOK 380, price NOK 190, upside +100.0%, quality 51 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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Sparebank 1 Nordvest
SNOR · OLThe stock costs 50% less than our calculation considers fair.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.
How to read this chart
60‑month range kr 93.43 – kr 201.15 · fair‑value band kr 285.00 – kr 475.00 · the kr 190.00 price screens below the kr 380.00 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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Company profile
SpareBank 1 Nordmøre provides various banking products and services for businesses and individuals in Norway. It operates through Retail Market and Corporate Market segments.
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The company offers financing, leasing, payment processing, and consulting services; and accounting services, including agricultural accounting.
It also provides usage, current, buffer, savings, deposit, business, currency, group, and investment accounts; fixed-rate deposits; mobile and online banking; bank and credit cards; savings products, including savings in funds, savings on account, stocks and investments, and savings for children and retirement; pension savings accounts and tax-advantaged retirement savings; mandatory occupational pensions; and cash services.
In addition, the company offers mortgage loans for housing, cottages, and construction projects; car loans for new and used cars; loan transfers; proof of financing; consumer loans; refinancing of mortgages and consumer debt; vehicle loans for boats, caravans, and other vehicles; green loans; business loans; overdrafts; bank guarantees; construction loans; growth guarantee schemes; agricultural operating credit; and factoring.
Further, it provides car, housing, person, animal, vehicle, travel, valuable item, vehicle and machine, building and value, employee/personnel, and agriculture insurance; property brokerage and valuation; payroll payment and reporting; business counseling; and investment in funds and shares.
The company was formerly known as Sparebank 1 Nordvest and changed its name to SpareBank 1 Nordmøre in May 2021. The company was founded in 1835 and is based in Kristiansund, Norway.
Stock analysis
Sparebank 1 Nordvest (SNOR) currently trades at kr 190.00, while our model-based Fair Value estimate is kr 380.00, 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 472.50 per share, and 3 of the 6 models we run sit above the kr 190.00 price.
Bear case: the Dividend Discount group reads lowest at kr 113.82, and 3 of the 6 models stay below the price. Data coverage for this calculation is high.
Scenario range: kr 285.00 (bear) to kr 475.00 (bull), the price of kr 190.00 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 51/100 (solid quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Sparebank 1 Nordvest reported revenue of 1.0B NOK in FY2025 versus 588M NOK in FY2021, a compound +15.6%/yr. Reported net income was 502M NOK in FY2025, compounding +37.1%/yr from FY2021.
Key figures
Market cap 1.7B NOK (≈ $182M) Micro · P/E ratio 10.4 · P/S ratio 4.97 · EPS (TTM) kr 18.29 · Dividend yield 5.8% · Net margin 47.9% · Return on equity 11.0% · Return on assets (EBIT) 1.4% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 69 out of 100 (low confidence).
What moves the price
The share trades about 6% 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 100%, SNOR screens cheaper than that median.
Fair Value models
All 6 models by family
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Revenue & earnings trend
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Compare Sparebank 1 Nordvest with another stock
Price, fair value, quality and upside side by side.
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
Valuation Multiplesvs Banks - Regional median · lower = cheaper
Strength profile in five axes (Snowflake)
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
- Is the Financials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- EBIT margin by industry
- P/S ratio by industry
- PEG screener for stocks with fair value
- Valuation of the Norway market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
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 SNOR |
| China Merchants Bank Co 600036 | ¥42.88 | ¥52.73 | +23% | vs SNOR |
| BNP Paribas SA BNP | €91.93 | €106.01 | +15% | vs SNOR |
| Intesa Sanpaolo S.p.A ISP | €6.18 | €4.49 | −27% | vs SNOR |
| State Bank of India SBIN | ₹1,019 | ₹736.65 | −28% | vs SNOR |
| UniCredit S.p.A UCG | €76.80 | €50.44 | −34% | vs SNOR |
| Mizuho Financial Group MFG | $9.40 | $5.89 | −37% | vs SNOR |
| DBS Group D05 | 69.72 SGD | 40.39 SGD | −42% | vs SNOR |
| HDFC Bank Limited HDFCBANK | ₹788.25 | ₹406.39 | −48% | vs SNOR |
| ICICI Bank Limited ICICIBANK | ₹1,571 | ₹615.63 | −61% | vs SNOR |
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Frequently asked questions
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Key figures of Sparebank 1 Nordvest
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