SpareBank 1 Østlandet (SPOL) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of SpareBank 1 Østlandet stock NOK 243, price NOK 206, upside +17.9%, quality 53 out of 100. Rating: undervalued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.
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SpareBank 1 Østlandet
SPOL · OLThe stock costs 15% 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 7, 2026.
How to read this chart
60‑month range kr 82.67 – kr 209.50 · fair‑value band kr 182.02 – kr 303.37 · the kr 205.90 price screens below the kr 242.70 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Company profile
SpareBank 1 Østlandet provides various financial products and services to individuals, businesses, public entities, teams, associations, and organisations.
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It operates through the Retail Division, Corporate Division, SpareBank 1 Finans Østlandet, EiendomsMegler 1 Østlandet, and SpareBank 1 ForretningsPartner Østlandet segments.
The Retail segment offers financial services comprising savings, financing, payment processing, insurance, loss prevention, capital management, and investments.
The Corporate segment provides hedging for interest and foreign exchange transactions, placement of surplus liquidity, insurance for individuals, pension solutions, as well as buildings and movable property for businesses; and delivers advisory solutions to private customers and businesses, and it also engages in foreign currency services.
The SpareBank 1 Finans Østlandet's segment provides activities consisting of leasing and lending for private purchases of vehicles, including car loans for electric vehicles, as well as leasing and lending to corporate customers for vehicles and operating assets.
The EiendomsMegler 1 Østlandet's segment offers activities consisting of advisory services and real estate brokerage in connection with the purchase and sale of residential property and real estate.
The SpareBank 1 ForretningsPartner Østlandet's segment provides activities consisting of accounting services, advisory and consultancy services, including advisory services related to sustainability. SpareBank 1 Østlandet was founded in 1845 and is headquartered in Hamar, Norway.
Stock analysis
SpareBank 1 Østlandet (SPOL) currently trades at kr 205.90, while our model-based Fair Value estimate is kr 242.70, implying the stock looks roughly 15% undervalued today.
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Valuation
Bull case: the Dividend Discount group reads highest at a median of kr 275.96 per share, and 4 of the 6 models we run sit above the kr 205.90 price.
Bear case: the Asset-Based group reads lowest at kr 128.97, and 2 of the 6 models stay below the price. Data coverage for this calculation is high.
Scenario range: kr 182.02 (bear) to kr 303.37 (bull), the price of kr 205.90 sits inside 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 53/100 (solid quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
SpareBank 1 Østlandet reported revenue of 7.2B NOK in FY2025 versus 4.0B NOK in FY2021, a compound +16.0%/yr. Reported net income was 3.5B NOK in FY2025, compounding +15.0%/yr from FY2021.
Key figures
Market cap 28.0B NOK (≈ $3.0B) Mid · P/E ratio 12.2 · P/S ratio 5.95 · EPS (TTM) kr 16.87 · Dividend yield 6.2% · Net margin 48.8% · Return on equity 12.8% · Return on assets (EBIT) 1.6% (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 2% below its 52-week high and 25% 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 18%, SPOL 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 Østlandet 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)
- Net margin by industry
- P/B ratio by industry
- Piotroski F-Score screener 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 SPOL |
| China Merchants Bank Co 600036 | ¥42.88 | ¥52.73 | +23% | vs SPOL |
| BNP Paribas SA BNP | €91.93 | €106.01 | +15% | vs SPOL |
| Intesa Sanpaolo S.p.A ISP | €6.18 | €4.49 | −27% | vs SPOL |
| State Bank of India SBIN | ₹1,019 | ₹736.65 | −28% | vs SPOL |
| UniCredit S.p.A UCG | €76.80 | €50.44 | −34% | vs SPOL |
| Mizuho Financial Group MFG | $9.40 | $5.89 | −37% | vs SPOL |
| DBS Group D05 | 69.72 SGD | 40.39 SGD | −42% | vs SPOL |
| HDFC Bank Limited HDFCBANK | ₹788.25 | ₹406.39 | −48% | vs SPOL |
| ICICI Bank Limited ICICIBANK | ₹1,571 | ₹615.63 | −61% | vs SPOL |
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Frequently asked questions
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Key figures of SpareBank 1 Østlandet
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