B2 Impact ASA (B2I) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of B2 Impact ASA NOK 30.67, price NOK 24.90, upside +23.2%, quality 63 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range kr 3.54 – kr 27.35 · fair‑value band kr 16.35 – kr 41.34 · the kr 24.90 price screens below the kr 30.67 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
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B2 Impact ASA, together with its subsidiaries, provides various debt solutions in Norway and internationally. The company's business consists of purchase, management, and collection of unsecured and secured non-performing loans.
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B2 Impact ASA, together with its subsidiaries, provides various debt solutions in Norway and internationally. The company's business consists of purchase, management, and collection of unsecured and secured non-performing loans. It also provides debt purchase and collection, and third-party debt collection services; and telemarketing, fraud prevention, and credit information services. The company was formerly known as B2Holding SAS and changed its name to B2 Impact ASA in September 2023. B2 Impact ASA was incorporated in 2008 and is headquartered in Oslo, Norway.
Stock analysis
B2 Impact ASA (B2I) currently trades at kr 24.90, while our model-based Fair Value estimate is kr 30.67, implying the stock looks roughly 18.8% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of kr 167.91 per share, and 5 of the 12 models we run sit above the kr 24.90 price.
Bear case: the Earnings-Based group reads lowest at kr 8.97, and 7 of the 12 models stay below the price. Evidence for this calculation is high.
Scenario range: kr 16.35 (bear) to kr 41.34 (bull), the price of kr 24.90 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 63/100 (solid quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
B2 Impact ASA reported revenue of 3.7B NOK in FY2025 versus 3.0B NOK in FY2021, a compound +5.3%/yr. Reported net income was 622M NOK in FY2025, compounding +2.1%/yr from FY2021.
Key figures
Market cap 9.2B NOK (≈ $969M) · P/E ratio 14.1 · P/S ratio 2.37 · EPS (TTM) kr 1.77 · Dividend yield 7.6% · Net margin 16.8% · Return on equity 11.8% · Return on assets (EBIT) 4.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 9% below its 52-week high and 67% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −32% fair-value upside, at 23%, B2I screens cheaper than that median.
Fair Value models
Bear kr 16.35Fair Value kr 30.67Bull kr 41.34
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.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.
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.71/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+6.3%
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.
+6.6%
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.
+4.0%
Start year 2020 (pandemic)
Revenue growth 6 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.
+4.8%
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’25
What shareholders gained per year (last 5 years) (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.
+12.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+4.8%
Dividend (yield on the price)7.6%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.14% → 47%
2025 sits 105% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
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.Credit Services · 332 stocks
Beats the industry median on 9/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score64 · Top 25%
Fair Value upside+23% · Above median
Profitability
Return on equity (TTM)12% · Above median
Return on assets4% · Above median
Net margin (TTM)23% · Above median
Operating margin (TTM)35% · Above median
Growth and dividend
Revenue growth12% · Above median
Dividend yield (TTM)7.6% · Top 25%
Balance sheet
Debt / equity1.67× · Above median
Valuation Multiplesvs Credit Services median · lower = cheaper
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As of Sep 23, 2026, our model estimates a fair value of kr 30.67 versus a price of kr 24.90, about +23% upside (undervalued).
What is the fair value of B2I?
Our model-based fair value for B2 Impact ASA is kr 30.67 (as of Sep 23, 2026), built from audited fundamentals. The current price: kr 24.90.
What is the quality score of B2I?
B2 Impact ASA has a Quality Score of 63/100. 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 B2 Impact ASA (B2I)?
Our model-based price target is the fair value of kr 30.67 (as of Sep 23, 2026) from 12 valuation models. Cautious scenario kr 16.35, optimistic scenario kr 41.34. It is a calculation from audited fundamentals, not an analyst target.
What is the B2 Impact ASA stock forecast for 2026?
Our models put fair value at kr 30.67, about +23% upside versus a price of kr 24.90 (undervalued). Cautious scenario kr 16.35, optimistic scenario kr 41.34. The calculation is refreshed regularly with new filings.
What is the revenue of B2 Impact ASA (B2I)?
B2 Impact ASA reported trailing-twelve-month revenue of about 2.9B NOK (latest available figure, as of Sep 23, 2026).
Does B2 Impact ASA pay a dividend?
B2 Impact ASA currently shows a dividend yield of about 7.63% relative to its recent price (as of Sep 23, 2026).
What is the intrinsic value of B2 Impact ASA (B2I)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For B2 Impact ASA it is kr 30.67 per share (as of Sep 23, 2026), against a price of kr 24.90. It is the blended result of 12 valuation models (cash flow, earnings, asset, dividend).
Is B2 Impact ASA stock overvalued or undervalued in 2026?
As of Sep 23, 2026, B2I trades below its calculated fair value: price kr 24.90, fair value kr 30.67, a gap of about +23% (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 B2I?
No. The price is what the market pays today (kr 24.90); the fair value is what the company's own numbers justify (kr 30.67). For B2 Impact ASA the two are kr 5.77 per share apart. That gap is exactly why we show both numbers side by side.
How much is B2 Impact ASA worth?
The market values B2 Impact ASA at about 9.2B NOK (market capitalisation, as of Sep 23, 2026). Per share that is kr 24.90; our models calculate a fair value of kr 30.67 per share.
What do the bullish and bearish scenarios say about B2I?
Our models span a range for B2 Impact ASA: cautious scenario kr 16.35, base kr 30.67, optimistic kr 41.34 per share (as of Sep 23, 2026, price kr 24.90). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of B2I?
B2 Impact ASA trades at a price-to-earnings ratio of 14.1 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 30.67 is built from several models across several years. Other multiples: P/B 1.6, P/S 3.1, EV/EBITDA 40.9.
How solid is the balance sheet of B2 Impact ASA (B2I)?
Balance-sheet figures for B2 Impact ASA (as of Sep 23, 2026): return on equity 11.8%, debt of 1.67 per unit of equity. They feed the Quality Score of 63/100, which measures business quality independently of the share price.
How far is B2I from its 52-week high?
B2 Impact ASA trades at kr 24.90, about 9% below its 52-week high of kr 27.35 and 67% above the low of kr 14.93 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of kr 30.67 is for.
Which stocks are comparable to B2 Impact ASA?
From the same area (Financial Services) we also value Visa Inc, Mastercard Incorporated, American Express Company, Capital One Financial Corporation, 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 B2 Impact ASA stock attractive at the current price?
The data as of Sep 23, 2026: price kr 24.90, calculated fair value kr 30.67 (+23%), Quality Score 63/100, from 12 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 B2I calculated?
We run B2 Impact ASA through 12 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 kr 30.67, 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 14.1 % above its aggregate fair value. B2 Impact ASA currently trades 23 % 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 B2 Impact ASA (B2I)?
The closing price on Sep 23, 2026 was kr 24.90. Our model-based fair value is kr 30.67, about +23% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with B2 Impact ASA right now?
Solid quality (63/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (kr 16.35 to kr 41.34) leaves room in how you read the outcome. 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 B2 Impact ASA
How large is the market capitalisation of B2 Impact ASA (B2I)?
The market capitalisation of B2 Impact ASA is 9.2B NOK (≈ $969M). 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 B2 Impact ASA (B2I)?
The price-to-sales ratio of B2 Impact ASA is 2.37 (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 B2 Impact ASA (B2I)?
Earnings per share at B2 Impact ASA are kr 1.77 (price ÷ EPS = P/E 14.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of B2 Impact ASA (B2I)?
The dividend yield of B2 Impact ASA is 7.6% (payout 107%). 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 B2 Impact ASA (B2I)?
The net margin of B2 Impact ASA is 16.8% (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 B2 Impact ASA (B2I)?
The return on equity (ROE) of B2 Impact ASA is 11.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of B2 Impact ASA (B2I)?
On an EBIT basis the return on assets of B2 Impact ASA is 4.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of B2 Impact ASA (B2I)?
The operating margin of B2 Impact ASA is 35.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at B2 Impact ASA (B2I)?
Revenue at B2 Impact ASA is growing +12.2% versus a year earlier (3y avg +6.6%). 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 B2 Impact ASA (B2I)?
Earnings per share at B2 Impact ASA are growing +31.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does B2 Impact ASA (B2I) generate?
The free cash flow of B2 Impact ASA is 4.6B 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 B2 Impact ASA (B2I) carry?
The net debt of B2 Impact ASA is 9.9B NOK (fiscal year 2025, ≈ 2.1 yrs of FCF). 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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