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AL Sydbank A/S (ALSYDB) Fair Value & Analysis

Financial Services · DK · Market cap 51.6B DKK

AS AL Sydbank A/S ALSYDB · CO
Pricekr 635.50
Fair Valuekr 246.38
Upside-61.2%
Quality39/100
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Mixed Growth
Highly profitable · 21.6% net margin
generates free cash flow
4.10% dividend yield
Mixed vs. peers (6/12)
Moderate moat 64/100
Evidence: High Range kr 184.78 – kr 307.97 Share as image

Fair value as of: Jul 18, 2026

From 4 valuation models · updated 23 days ago

Share price +7.0% over the past month.

Below-average quality, and screening another 61% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (kr 307.97). The favourable scenario is already priced in.
  • Weak quality (39/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
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Price vs Fair Value (5 years)

kr 641.50 kr 128.22 Fair Value kr 246.38 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

60‑month range kr 128.22 – kr 641.50 · fair‑value band kr 184.78 – kr 307.97 · the kr 635.50 price screens above the kr 246.38 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.

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Analysis

AL Sydbank A/S (ALSYDB) currently trades at kr 635.50, while our model-based Fair Value estimate is kr 246.38, implying the stock looks roughly 61.2% overvalued today. The Quality Score stands at 39/100 (below-average quality), in the Financial Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, AL Sydbank A/S generated revenue of 9.5B DKK at a net margin of 21.6%. Revenue grew 65.3% year over year. It earns a return on equity of 8.1%. The balance sheet holds a net cash position of 5.6B DKK. Fundamentals as of Jul 18, 2026

Our scenario range runs from kr 184.78 (bear case) to kr 307.97 (bull case); at kr 635.50, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 56% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 42% fair-value upside, at -61%, ALSYDB screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Residual Income kr 339.89 kr 343.84 kr 329.73 76
P/E Multiple kr 217.39 kr 289.86 kr 362.32 63
P/B Multiple kr 284.28 kr 379.04 kr 473.80 55
All 4 models by family
Multiples
P/E Multiple kr 217.39 kr 289.86 kr 362.32 63
P/B Multiple kr 284.28 kr 379.04 kr 473.80 55
Asset-Based
NCAV (Graham) kr 221.46 kr 296.75 kr 442.92 50
Economic Profit
Residual Income kr 339.89 kr 343.84 kr 329.73 76

Widest divergence: Economic Profit (kr 343.84) versus Multiples (kr 289.86). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 9.5B DKK
Revenue growth (YoY) +65.3%
Net margin 21.6%
Return on equity 8.1%
Free cash flow 6.4B DKK FY2025
P/E ratio 19.3
More key figures
Operating margin 39.6%
EPS (TTM) kr 31.51
Dividend yield 4.1%
EPS growth (YoY) -26.8%
Net cash 5.6B DKK FY2025

Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 39/100

Of which business quality 41 · Market factors (momentum, volatility) 78

Profitability 31
Margins and returns on capital today
Quality Growth 30
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 30
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 88
Calm price path (market factor)
Momentum 67
Price trend over the last 3–12 months (market factor)
52W Momentum 88
Distance to the 52-week high (market factor)
Net Issuance 0
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

AL Sydbank A/S, together with its subsidiaries, provides various banking products and services to retail clients, corporates, and associations in Denmark and internationally. The company operates through Banking, Asset Management, AL Sydbank Markets, Treasury, and Other segments.

Full company description

AL Sydbank A/S, together with its subsidiaries, provides various banking products and services to retail clients, corporates, and associations in Denmark and internationally. The company operates through Banking, Asset Management, AL Sydbank Markets, Treasury, and Other segments. The company offers various deposits and loans and advances, advisory services, securities trading, asset management, distribution of mortgage credit products, investment products, pension, and insurance products. It also provides private banking solutions; services for investment funds, pooled pension plans, foundations, institutional clients, and wealthy customers; and economic research and equity research. Further, it provides retail banking services, such as insurance, housing, pension, and mortgage credit services to retail clients; mortgage bonds; and advice and quotes prices as regards bonds, shares, and foreign exchange, as well as undertakes market-making obligations for institutional clients, central banks, foreign and other clients, and banks. The company was formerly known as Sydbank A/S and changed its name to AL Sydbank A/S in December 2025. AL Sydbank A/S was founded in 1986 and is headquartered in Aabenraa, Denmark.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

AL Sydbank A/S reported revenue of kr 7.5B in FY2025 versus kr 4.8B in FY2021, a compound +12.1%/yr. Reported net income was kr 1.9B in FY2025, compounding +7.6%/yr from FY2021.

Growth Quality 89/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
7.5B DKK
Latest YoY
−0.5%
Avg. growth/yr (3Y)
+11.7%
Avg. growth/yr (5Y)
+60.4%
Avg. growth/yr (19Y)
+12.8%
Revenue +12.1%/yr
FY21 kr 4.8B
FY22 kr 5.4B
FY23 kr 7.4B
FY24 kr 7.5B
FY25 kr 7.5B
Net income +7.6%/yr
FY21 kr 1.4B
FY22 kr 1.9B
FY23 kr 3.3B
FY24 kr 2.8B
FY25 kr 1.9B

ALSYDB screens 61% overvalued. Compare with PT Bank Central Asia Tbk →

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Cite: Fair Value Calculator (2026). "AL Sydbank A/S Fair Value". https://www.fairvalue-calculator.com/stock/ALSYDB

Recent news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Banks - Regional · 1083 stocks

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.

Quality Score 39 · Bottom 25%
Fair Value upside −61% · Bottom 25%
Return on equity (TTM) 8% · Below median
Return on assets 1% · Below median
Net margin (TTM) 22% · Below median
Operating margin (TTM) 40% · Above median
Revenue growth 65% · Top 25%
Dividend yield (TTM) 4.1% · Top 25%

Valuation Multiples vs Banks - Regional median · lower = cheaper

P/E (TTM) 19.3× · Pricier than 75% of peers
P/B 0.21× · Cheaper than 75% of peers
P/S (TTM) 0.84× · Cheaper than 75% of peers
P/FCF 1.2× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 39
FUTURE 100 · sector 44
PAST 32 · sector 41
HEALTH 0 · sector 85
DIVIDEND 82 · sector 49

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

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Banks - Regional stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).

Stock Price Fair Value vs Fair Value
PT Bank Central Asia Tbk BBCA 6,175 IDR 6,087 IDR -1%
KB Financial Group 105560 184,400 KRW 213,797 KRW +16%
PT Bank Rakyat Indonesia (Persero) Tbk BBRI 2,970 IDR 4,891 IDR +65%
PT Bank Mandiri (Persero) Tbk BMRI 4,310 IDR 7,841 IDR +82%
Banco Bradesco S.A BBD 5,120 ARS 10,240 ARS +100%
Shinhan Financial Group 055550 107,900 KRW 137,259 KRW +27%
Hana Financial Group 086790 136,800 KRW 193,969 KRW +42%
Lloyds Banking Group LYG 4,138 ARS 8,275 ARS +100%
Banco de Chile, CHILE 193.10 CLP 152.55 CLP -21%
Joint Stock Commercial Bank for Foreign Trade of Vietnam, VCB 59,400 VND 84,201 VND +42%

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Frequently asked questions

Is AL Sydbank A/S (ALSYDB) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of kr 246.38 versus a price of kr 635.50, about −61% (overvalued).
What is the fair value of ALSYDB?
Our model-based fair value for AL Sydbank A/S is kr 246.38 (as of Jul 18, 2026), built from audited fundamentals. The current price is kr 635.50.
What is the quality score of ALSYDB?
AL Sydbank A/S has a Quality Score of 39/100. 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 revenue of AL Sydbank A/S (ALSYDB)?
AL Sydbank A/S reported trailing-twelve-month revenue of about 9.5B DKK (latest available figure, as of Jul 18, 2026).
What is the net profit margin of ALSYDB?
The net profit margin of AL Sydbank A/S is about 21.6%, meaning it keeps roughly 21.6% of revenue as net income. Based on the latest reported figures.
Does AL Sydbank A/S pay a dividend?
AL Sydbank A/S currently shows a dividend yield of about 4.63% relative to its recent price (as of Jul 18, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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