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North Pacific Bank,Ltd. (2PT) fair value: what the stock is really worth

As of Oct 1, 2026: fair value of North Pacific Bank,Ltd. €4.86, price €6.90, upside -29.6%, quality 54 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? Yes
  3. Add to watchlist

Financial Services · DE · Home Japan · ISIN JP3843400007

In Frankfurt, only 0 of the last 21 trading days (30 days) had any turnover. On the other days the price is an indicative quote without trading, so we do not list this stock in the radar. It stays reachable through search.

NP Some data Sep 30, 2026

North Pacific Bank,Ltd.

2PT · F

Overvalued / MonitorQuality is not strong enough to offset the price risk.

!Fair value €4.86 · Overvalued (−29.6%)
!Quality 54/100
!Expensive Growth (revenue 3y +20.1 %/yr)
✓Solidly profitable · 12.1% net margin (TTM)
!negative free cash flow
!2.5% dividend yield · Watch coverage
!Trails peers (3/11)
!Narrow moat 40/100
!Evidence only medium, so the estimate is less certain
!Weak on past: 28 out of 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

€7.00 €1.28 Fair Value €4.86 Jul 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 30, 2026.

How to read this chart

60‑month range €1.28 – €7.00 · fair‑value band €4.31 – €5.30 · the €6.90 price screens above the €4.86 fair value. Dashed = 300-day average. As of Sep 30, 2026.

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Company profile

North Pacific Bank,Ltd. provides various banking products and services for individuals and corporations in Japan. The company offers savings, foreign currency, and time deposits; financial product and online financial product intermediation; government and public bonds for individuals; fund wrap; and investment trusts.

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North Pacific Bank,Ltd. provides various banking products and services for individuals and corporations in Japan. The company offers savings, foreign currency, and time deposits; financial product and online financial product intermediation; government and public bonds for individuals; fund wrap; and investment trusts. It also provides home, car, education, home renovation, card, and personal loans; insurance and online insurance products; inheritance and trust related products; deposits for educational donations; and defined contribution pension. In addition, the company offers debit and credit cards; air post; web account transfer reception services; bank pay; ATM service; and payment services. Further, it engages in the dispatching of general workers business. The company was formerly known as Hokuyo Sogo Bank, Ltd. and changed its name to North Pacific Bank,Ltd. in 1989. North Pacific Bank,Ltd. was incorporated in 1917 and is headquartered in Sapporo, Japan.

Stock analysis

North Pacific Bank,Ltd. (2PT) currently trades at €6.90, while our model-based Fair Value estimate is €4.86, 29.6% 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 €5.01 per share, and 0 of the 6 models we run sit above the €6.90 price.

Bear case: the Dividend Discount group reads lowest at €2.75, and 6 of the 6 models stay below the price. Evidence for this calculation is medium.

Scenario range: €4.31 (bear) to €5.30 (bull), the price of €6.90 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 54/100 (solid quality), in the Financial Services sector.

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

North Pacific Bank,Ltd. reported revenue of ¥197B in FY2026 versus ¥112B in FY2022, a compound +15.1%/yr. Reported net income was ¥25.6B in FY2026, compounding +21.5%/yr from FY2022.

Key figures

Market cap €2.6B · P/E ratio 18.2 · P/S ratio 2.36 · EPS (TTM) €0.3800 · Dividend yield 2.5% · Net margin 13.0% · Return on equity 7.0% · Return on assets 0.2%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (low confidence).

What moves the price

The share trades about 1% below its 52-week high and 95% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −36% fair-value upside, at −30%, 2PT screens cheaper than that median.

Fair Value models

Bear €4.31 Fair Value €4.86 Bull €5.30
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. 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. Evidence ⓘEvidence = 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.
Highest evidence
Residual Income €4.62 €4.81 €5.23 73
Gordon GGM €1.60 €3.18 €4.82 64
DDM Multi-Stage €1.60 €2.75 €3.36 64
All 6 models by family
Dividend Discount
Gordon GGM €1.60 €3.18 €4.82 64
DDM Multi-Stage €1.60 €2.75 €3.36 64
Multiples
P/E Multiple €3.76 €5.01 €6.26 63
P/B Multiple €4.91 €6.55 €8.18 55
Asset-Based
NCAV (Graham) €2.91 €3.91 €5.83 51
Economic Profit
Residual Income €4.62 €4.81 €5.23 73

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Quality Score breakdown

Overall quality 54/100

Of which business quality 49 · Market factors (momentum, volatility) 85

Profitability 28
Margins and returns on capital today
Quality Growth 68
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 57
Balance sheet, leverage, solvency risk
Investment 90
Disciplined investing over empire-building
Low Volatility 64
Calm price path (market factor)
Momentum 91
Price trend over the last 3–12 months (market factor)
52W Momentum 99
Distance to the 52-week high (market factor)
Net Issuance 90
Share count: buybacks or dilution?

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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
+51.7%
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.
+20.1%
What shareholders gained per year (last 5 years), in JPY (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. Measured in JPY: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+31.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+29.0%
Dividend (yield on the price)2.5%
2026 sits 105% above its own trend. The rate follows the median trend of the last 5 years, not that single year.

2PT screens overvalued: fair value 30% below the price. Compare with DBS Group →

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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 · 1060 stocks

Beats the industry median on 3/11 measures
Overall it trails its industry peers.
Valuation
Quality Score 54 · Above median
Fair Value upside −30.6% · Below median
Profitability
Return on equity (TTM) 7.0% · Below median
Return on assets 0.2% · Bottom 25%
Net margin (TTM) 12.1% · Bottom 25%
Operating margin (TTM) 17.3% · Bottom 25%
Growth and dividend
Revenue growth 69.3% · Top 25%
Dividend yield (TTM) 2.5% · Below median

Valuation Multiplesvs Banks - Regional median · lower = cheaper

P/E (TTM) 18.2× · Priciest 25%
P/B 1.20× · Pricier than median
P/S (TTM) 2.00× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 12
FUTURE (revenue growth)100 · sector 47
PAST (return on equity)28 · sector 41
HEALTH (low debt)0 · sector 84
DIVIDEND (yield)50 · sector 53

VALUE 0: the price sits above our fair-value range.

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
DBS Group D05 78.00 SGD 40.39 SGD −48%
China Merchants Bank Co 600036 ¥40.69 ¥52.73 +30%
UniCredit S.p.A UCG €79.53 €77.12 −3%
Mizuho Financial Group MFG $11.05 $6.82 −38%
Intesa Sanpaolo S.p.A ISP €6.38 €4.06 −36%
BNP Paribas SA BNP €91.54 €105.99 +16%
HDFC Bank Limited HDFCBANK ₹721.20 ₹406.44 −44%
Oversea-Chinese Banking Corporation O39 32.01 SGD 19.78 SGD −38%
Al Rajhi Banking and Investment Corporation 1120 63.15 SAR 36.95 SAR −41%
CaixaBank, S.A CABK €12.03 €8.46 −30%

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North Pacific Bank,Ltd. · Fair Value
€4.86 −30%Fair Value
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Cite: Fair Value Calculator (2026). "North Pacific Bank,Ltd. Fair Value". https://www.fairvalue-calculator.com/stock/2PT

Frequently asked questions

Is North Pacific Bank,Ltd. (2PT) overvalued or undervalued?
As of Sep 30, 2026, our model estimates a fair value of €4.86 versus a price of €6.90, about −30% upside (overvalued).
What is the fair value of 2PT?
Our model-based fair value for North Pacific Bank,Ltd. is €4.86 (as of Sep 30, 2026), built from audited fundamentals. The current price: €6.90.
What is the quality score of 2PT?
North Pacific Bank,Ltd. has a Quality Score of 54/100. 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 North Pacific Bank,Ltd. (2PT)?
Our model-based price target is the fair value of €4.86 (as of Sep 30, 2026) from 6 valuation models. Cautious scenario €4.31, optimistic scenario €5.30. It is a calculation from audited fundamentals, not an analyst target.
What is the North Pacific Bank,Ltd. stock forecast for 2026?
Our models put fair value at €4.86, about −30% upside versus a price of €6.90 (overvalued). Cautious scenario €4.31, optimistic scenario €5.30. The calculation is refreshed regularly with new filings.
What is the revenue of North Pacific Bank,Ltd. (2PT)?
North Pacific Bank,Ltd. reported trailing-twelve-month revenue of about ¥232B (latest available figure, as of Sep 30, 2026).
Does North Pacific Bank,Ltd. pay a dividend?
North Pacific Bank,Ltd. currently shows a dividend yield of about 2.52% relative to its recent price (as of Sep 30, 2026).
What is the intrinsic value of North Pacific Bank,Ltd. (2PT)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For North Pacific Bank,Ltd. it is €4.86 per share (as of Sep 30, 2026), against a price of €6.90. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is North Pacific Bank,Ltd. stock overvalued or undervalued in 2026?
As of Sep 30, 2026, 2PT trades above its calculated fair value: price €6.90, fair value €4.86, a gap of about −30% (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 2PT?
No. The price is what the market pays today (€6.90); the fair value is what the company's own numbers justify (€4.86). For North Pacific Bank,Ltd. the two are €2.04 per share apart. That gap is exactly why we show both numbers side by side.
How much is North Pacific Bank,Ltd. worth?
The market values North Pacific Bank,Ltd. at about €2.6B (market capitalisation, as of Sep 30, 2026). Per share that is €6.90; our models calculate a fair value of €4.86 per share.
What do the bullish and bearish scenarios say about 2PT?
Our models span a range for North Pacific Bank,Ltd.: cautious scenario €4.31, base €4.86, optimistic €5.30 per share (as of Sep 30, 2026, price €6.90). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2PT?
North Pacific Bank,Ltd. trades at a price-to-earnings ratio of 18.2 (as of Sep 30, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €4.86 is built from several models across several years. Other multiples: P/B 1.2, P/S 2.0.
How solid is the balance sheet of North Pacific Bank,Ltd. (2PT)?
Balance-sheet figures for North Pacific Bank,Ltd. (as of Sep 30, 2026): return on equity 7.0%. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is 2PT from its 52-week high?
North Pacific Bank,Ltd. trades at €6.90, about 1% below its 52-week high of €7.00 and 95% above the low of €3.55 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of €4.86 is for.
Which stocks are comparable to North Pacific Bank,Ltd.?
From the same area (Financial Services) we also value DBS Group, China Merchants Bank Co, 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 North Pacific Bank,Ltd. stock attractive at the current price?
The data as of Sep 30, 2026: price €6.90, calculated fair value €4.86 (−30%), Quality Score 54/100, 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 2PT calculated?
We run North Pacific Bank,Ltd. through 6 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €4.86, 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 14.5 % above its aggregate fair value. North Pacific Bank,Ltd. 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 North Pacific Bank,Ltd. (2PT)?
The closing price on Oct 1, 2026 was €6.90. Our model-based fair value is €4.86, about −30% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with North Pacific Bank,Ltd. right now?
The price sits above even our optimistic bull case (€5.30). The favourable scenario is already priced in. Solid but not exceptional quality (54/100) 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.

Key figures of North Pacific Bank,Ltd.

How large is the market capitalisation of North Pacific Bank,Ltd. (2PT)?
The market capitalisation of North Pacific Bank,Ltd. is €2.6B. 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 North Pacific Bank,Ltd. (2PT)?
The price-to-sales ratio of North Pacific Bank,Ltd. is 2.36 (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 North Pacific Bank,Ltd. (2PT)?
Earnings per share at North Pacific Bank,Ltd. are €0.3800 (price ÷ EPS = P/E 18.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of North Pacific Bank,Ltd. (2PT)?
The dividend yield of North Pacific Bank,Ltd. is 2.5% (payout 45.8%). 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 North Pacific Bank,Ltd. (2PT)?
The net margin of North Pacific Bank,Ltd. is 13.0% (fiscal year 2026). 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 North Pacific Bank,Ltd. (2PT)?
The return on equity (ROE) of North Pacific Bank,Ltd. is 7.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the return on assets of North Pacific Bank,Ltd. (2PT)?
The return on assets (ROA) of North Pacific Bank,Ltd. is 0.2% (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 North Pacific Bank,Ltd. (2PT)?
The operating margin of North Pacific Bank,Ltd. is 17.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at North Pacific Bank,Ltd. (2PT)?
Revenue at North Pacific Bank,Ltd. is growing +69.3% versus a year earlier (3y avg +20.1%). 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 North Pacific Bank,Ltd. (2PT)?
Earnings per share at North Pacific Bank,Ltd. are growing +41.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does North Pacific Bank,Ltd. (2PT) generate?
The free cash flow of North Pacific Bank,Ltd. is −¥386B (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
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