Aasen Sparebank (AASB) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Aasen Sparebank stock NOK 276, price NOK 141, upside +95.7%, quality 41 out of 100. Rating: strongly undervalued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.
How to read this chart
60‑month range kr 81.45 – kr 142.00 · fair‑value band kr 207.00 – kr 345.00 · the kr 141.00 price screens below the kr 276.00 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.
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Aasen Sparebank provides various banking products and services in Norway. The company offers savings account, savings account for children and home purchase, pension, long-term savings, and stocks. It also provides lease financing; and mortgage, car, green, and small loans.
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In addition, the company offers health, group life, travel, and occupational injury insurance; and bank card, credit card, online and mobile banking services, and payment solutions. Aasen Sparebank was founded in 1862 and is based in Åsen, Norway.
Stock analysis
Aasen Sparebank (AASB) currently trades at kr 141.00, while our model-based Fair Value estimate is kr 276.00, implying the stock looks roughly 49% undervalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of kr 472.81 per share, and 5 of the 6 models we run sit above the kr 141.00 price.
Bear case: the Dividend Discount group reads lowest at kr 146.81, and 1 of the 6 models stay below the price. Data coverage for this calculation is medium.
Scenario range: kr 207.00 (bear) to kr 345.00 (bull), the price of kr 141.00 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 41/100 (below-average quality), in the Financial Services sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Aasen Sparebank reported revenue of 200M NOK in FY2025 versus 113M NOK in FY2021, a compound +15.3%/yr. Reported net income was 81.9M NOK in FY2025, compounding +19.1%/yr from FY2021.
Key figures
Market cap 244M NOK (≈ $25.8M) Micro · P/E ratio 17.3 · P/S ratio 7.08 · EPS (TTM) kr 8.16 · Dividend yield 7.1% · Net margin 41.0% · Return on equity 8.9% · Return on assets 1.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 65 out of 100 (low confidence).
What moves the price
The share trades about 1% 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 96%, AASB screens cheaper than that median.
Fair Value models
Bearkr 207.00Fair Value kr 276.00Bullkr 345.00
Price kr 141.00 · Upside +95.7%
Capped: our models arrive at a very high value here. We deliberately show a more cautious Fair Value.
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.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.
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.60/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+5.3%
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.
+18.4%
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.
+12.6%
Start year 2020 (pandemic). Over 10 years: +10.0% a year
Revenue growth 10 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.
+10.0%
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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.
+12.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+5.6%
Dividend (yield on the price)7.1%
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.5.6% vs 5.6%, steady
Price, fair value, quality and upside side by side.
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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 5/10 measures
A mixed picture versus its industry peers.
Valuation
Quality Score41 · Bottom 25%
Fair Value upside+95.7% · Top 25%
Profitability
Return on equity (12 months)8.9% · Below median
Return on assets1.1% · Above median
Net margin (12 months)39.8% · Top 25%
Operating margin (12 months)50.1% · Above median
Growth and dividend
Revenue growth (quarter YoY)−9.2% · Bottom 25%
Dividend yield (12 months)7.1% · Top 25%
Balance sheet
Debt / equity1.39× · Highest 25%
Valuation Multiplesvs Banks - Regional median · lower = cheaper
P/E (12 months)17.3× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)100· sector 8
FUTURE (revenue growth)0· sector 47
PAST (return on equity)35· 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.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Aasen Sparebank Fair Value". https://www.fairvalue-calculator.com/stock/AASB
Frequently asked questions
Is Aasen Sparebank (AASB) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of kr 276.00 versus a price of kr 141.00, about +96% upside (undervalued).
What is the fair value of AASB?
Our model-based fair value for Aasen Sparebank is kr 276.00 (as of Nov 3, 2026), built from audited fundamentals. The current price: kr 141.00.
What is the quality score of AASB?
Aasen Sparebank has a Quality Score of 41/100. 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 Aasen Sparebank (AASB)?
Our model-based price target is the fair value of kr 276.00 (as of Nov 3, 2026) from 6 valuation models. Cautious scenario kr 207.00, optimistic scenario kr 345.00. It is a calculation from audited fundamentals, not an analyst target.
What is the Aasen Sparebank stock forecast for 2026?
Our models put fair value at kr 276.00, about +96% upside versus a price of kr 141.00 (undervalued). Cautious scenario kr 207.00, optimistic scenario kr 345.00. The calculation is refreshed regularly with new filings.
What is the revenue of Aasen Sparebank (AASB)?
Aasen Sparebank reported trailing-twelve-month revenue of about 194M NOK (latest available figure, as of Nov 3, 2026).
Does Aasen Sparebank pay a dividend?
Aasen Sparebank currently shows a dividend yield of 7.09% relative to its recent price (as of Nov 3, 2026).
How much is the dividend of Aasen Sparebank (AASB) and when is the ex-dividend date?
Aasen Sparebank pays a dividend of kr 10.00 per share a year, a dividend yield of 7.1%. The last ex-dividend date was Mar 20, 2026. A dividend has been paid every year since 2022. The payout ratio is 123% of earnings. Our assessment: Payout strained. The dividend exceeds reported earnings (though reported profit is often depressed by one-off charges), and free cash flow only just covers it (or coverage is unknown). Not an emergency, but little room for error.
What is the intrinsic value of Aasen Sparebank (AASB)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Aasen Sparebank it is kr 276.00 per share (as of Nov 3, 2026), against a price of kr 141.00. It is the blended result of 6 valuation models in 4 families (Dividend Discount, Multiples, Asset-Based, Economic Profit).
Is Aasen Sparebank stock overvalued or undervalued in 2026?
As of Nov 3, 2026, AASB trades below its calculated fair value: price kr 141.00, fair value kr 276.00, a gap of about +96% (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 AASB?
No. The price is what the market pays today (kr 141.00); the fair value is what the company's own numbers justify (kr 276.00). For Aasen Sparebank the two are kr 135.00 per share apart. That gap is exactly why we show both numbers side by side.
How much is Aasen Sparebank worth?
The market values Aasen Sparebank at about 244M NOK (market capitalisation, as of Nov 3, 2026). Per share that is kr 141.00; our models calculate a fair value of kr 276.00 per share.
What do the bullish and bearish scenarios say about AASB?
Our models span a range for Aasen Sparebank: cautious scenario kr 207.00, base kr 276.00, optimistic kr 345.00 per share (as of Nov 3, 2026, price kr 141.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of AASB?
Aasen Sparebank trades at a price-to-earnings ratio of 17.3 (as of Nov 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 276.00 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 3.4.
How solid is the balance sheet of Aasen Sparebank (AASB)?
Balance-sheet figures for Aasen Sparebank (as of Nov 3, 2026): return on equity 8.9%, debt of 1.39 per unit of equity. They feed the Quality Score of 41/100, which measures business quality independently of the share price.
How far is AASB from its 52-week high?
Aasen Sparebank trades at kr 141.00, about 1% below its 52-week high of kr 142.00 and 21% above the low of kr 116.08 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of kr 276.00 is for.
Which stocks are comparable to Aasen 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 Aasen Sparebank stock attractive at the current price?
The data as of Nov 3, 2026: price kr 141.00, calculated fair value kr 276.00 (+96%), Quality Score 41/100, 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 AASB calculated?
We run Aasen 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 276.00 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. Aasen Sparebank currently trades 49% 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 Aasen Sparebank (AASB)?
The closing price on Nov 6, 2026 was kr 141.00. Our model-based fair value is kr 276.00, about +96% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Aasen Sparebank right now?
The large discount to fair value meets weak quality (41/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (kr 207.00). The market is more pessimistic than our downside scenario. 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 Aasen Sparebank
How large is the market capitalisation of Aasen Sparebank (AASB)?
The market capitalisation of Aasen Sparebank is 244M NOK (≈ $25.8M). 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 Aasen Sparebank (AASB)?
The price-to-sales ratio of Aasen Sparebank is 7.08 (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 Aasen Sparebank (AASB)?
Earnings per share at Aasen Sparebank are kr 8.16 (price ÷ EPS = P/E 17.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Aasen Sparebank (AASB)?
The dividend yield of Aasen Sparebank is 7.1% (payout 123%). 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 Aasen Sparebank (AASB)?
The net margin of Aasen Sparebank is 41.0% (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 Aasen Sparebank (AASB)?
The return on equity (ROE) of Aasen Sparebank is 8.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the return on assets of Aasen Sparebank (AASB)?
The return on assets (ROA) of Aasen Sparebank is 1.1% (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 Aasen Sparebank (AASB)?
The operating margin of Aasen Sparebank is 50.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Aasen Sparebank (AASB)?
Revenue at Aasen Sparebank is growing −9.2% versus a year earlier (3y avg +18.4%). 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 Aasen Sparebank (AASB)?
Earnings per share at Aasen Sparebank are growing −22.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Aasen Sparebank (AASB) generate?
The free cash flow of Aasen Sparebank is −104M 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 Aasen Sparebank (AASB) carry?
The net debt of Aasen Sparebank is 1.2B 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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Nov 3, 2026