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Bien Sparebank ASA (BIEN) Fair Value & Analysis

Financial Services · NO · Market cap 824M NOK

BS Bien Sparebank ASA BIEN · OL
Pricekr 144.00
Fair Valuekr 149.21
Upside+3.6%
Quality51/100
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Expensive Growth
Highly profitable · 38.4% net margin
Moderate debt · negative free cash flow
3.95% dividend yield
Mixed vs. peers (5/12)
Wide moat 65/100
Evidence: Medium Range kr 111.91 – kr 186.52 Share as image

Fair value as of: Jul 19, 2026

From 6 valuation models · updated 22 days ago

Share price +1.4% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • 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 (4 years)

kr 165.00 kr 71.79 Fair Value kr 149.21 Dec 2022 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.

How to read this chart

44‑month range kr 71.79 – kr 165.00 · fair‑value band kr 111.91 – kr 186.52 · the kr 144.00 price screens below the kr 149.21 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 19, 2026.

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Analysis

Bien Sparebank ASA (BIEN) currently trades at kr 144.00, while our model-based Fair Value estimate is kr 149.21, implying the stock looks roughly 3.6% fairly valued today. The Quality Score stands at 51/100 (solid quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, Bien Sparebank ASA generated revenue of 170M NOK at a net margin of 38.4%. Revenue grew 3.6% year over year. It earns a return on equity of 8.8%. Net debt stands at 1.3B NOK. Fundamentals as of Jul 19, 2026

Our scenario range runs from kr 111.91 (bear case) to kr 186.52 (bull case); at kr 144.00, the current price sits within 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 about 10% below its 52-week high and 16% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 42% fair-value upside, at 4%, BIEN 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 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
Highest evidence
Residual Income kr 108.07 kr 114.41 kr 122.77 76
Gordon GGM kr 41.56 kr 74.89 kr 103.09 70
P/E Multiple kr 111.91 kr 149.21 kr 186.52 63
All 6 models by family
Dividend Discount
Gordon GGM kr 41.56 kr 74.89 kr 103.09 70
DDM Multi-Stage kr 41.56 kr 68.41 kr 80.00 61
Multiples
P/E Multiple kr 111.91 kr 149.21 kr 186.52 63
P/B Multiple kr 142.48 kr 189.98 kr 237.47 55
Asset-Based
NCAV (Graham) kr 67.85 kr 90.92 kr 135.70 50
Economic Profit
Residual Income kr 108.07 kr 114.41 kr 122.77 76

Widest divergence: Multiples (kr 149.21) versus Dividend Discount (kr 68.41). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 170M NOK
Revenue growth (YoY) +3.6%
Net margin 38.4%
Return on equity 8.8%
Free cash flow −155M NOK FY2025
P/E ratio 14.5
More key figures
Operating margin 42.2%
EPS (TTM) kr 10.82
Dividend yield 3.7%
EPS growth (YoY) -0.3%
Net debt 1.3B NOK FY2025

Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 51/100

Of which business quality 43 · Market factors (momentum, volatility) 58

Profitability 41
Margins and returns on capital today
Quality Growth 51
Are margins and returns improving?
Cashflow 33
Earnings quality: real cash, not paper profit
Fin. Strength 4
Balance sheet, leverage, solvency risk
Investment 78
Disciplined investing over empire-building
Low Volatility 91
Calm price path (market factor)
Momentum 42
Price trend over the last 3–12 months (market factor)
52W Momentum 46
Distance to the 52-week high (market factor)
Net Issuance 82
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

Bien Sparebank ASA operates as a savings bank that provides a range of banking and financial products and services to individuals and business customers in Norway and internationally. It operates through Retail Market and Corporate Market segments.

Full company description

Bien Sparebank ASA operates as a savings bank that provides a range of banking and financial products and services to individuals and business customers in Norway and internationally. It operates through Retail Market and Corporate Market segments. The company offers banking services, such as bank cards, abroad payment, credit cards, account services, mobile banking and online banking services, and mobile payment solution; insurance products, including car, child, household items, house, travel, and dog insurance; and loan comprising car loan, mortgage, loans for motorcycle, motorhome, and ATVs; and senior loans. It also provides saving and retirement solutions, which include bank savings, BSU savings, mutual fund savings, fund savings for children, micro savings, and retirement savings. Bien Sparebank ASA was founded in 1885 and is based in Oslo, Norway.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Bien Sparebank ASA reported revenue of kr 170M in FY2025 versus kr 102M in FY2021, a compound +13.7%/yr. Reported net income was kr 65.2M in FY2025, compounding +22.0%/yr from FY2021.

Growth Quality 59/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
170M NOK
Latest YoY
+11.3%
Avg. growth/yr (3Y) 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.
+12.9%
Avg. growth/yr (5Y) 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.
+12.0%
Revenue +13.7%/yr
FY21 kr 102M
FY22 kr 119M
FY23 kr 143M
FY24 kr 153M
FY25 kr 170M
Net income +22.0%/yr
FY21 kr 29.5M
FY22 kr 42.1M
FY23 kr 55.8M
FY24 kr 60.8M
FY25 kr 65.2M

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Cite: Fair Value Calculator (2026). "Bien Sparebank ASA Fair Value". https://www.fairvalue-calculator.com/stock/BIEN

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 50 · Below median
Fair Value upside +4% · Below median
Return on equity (TTM) 9% · Below median
Return on assets 1% · Above median
Net margin (TTM) 38% · Top 25%
Operating margin (TTM) 42% · Above median
Revenue growth 4% · Below median
Dividend yield (TTM) 4.0% · Top 25%
Debt / equity 1.50× · Higher than 75% of peers

Valuation Multiples vs Banks - Regional median · lower = cheaper

P/E (TTM) 13.4× · Pricier than median
P/B 1.07× · Cheaper than median
P/S (TTM) 4.86× · Pricier than 75% of peers

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 38 · sector 39
FUTURE 18 · sector 44
PAST 35 · sector 41
HEALTH 25 · sector 85
DIVIDEND 79 · sector 49

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 19, 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 Bien Sparebank ASA (BIEN) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of kr 149.21 versus a price of kr 144.00, about +4% (fairly valued).
What is the fair value of BIEN?
Our model-based fair value for Bien Sparebank ASA is kr 149.21 (as of Jul 19, 2026), built from audited fundamentals. The current price is kr 144.00.
What is the quality score of BIEN?
Bien Sparebank ASA has a Quality Score of 51/100. 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 Bien Sparebank ASA (BIEN)?
Bien Sparebank ASA reported trailing-twelve-month revenue of about 170M NOK (latest available figure, as of Jul 19, 2026).
What is the net profit margin of BIEN?
The net profit margin of Bien Sparebank ASA is about 38.4%, meaning it keeps roughly 38.4% of revenue as net income. Based on the latest reported figures.
Does Bien Sparebank ASA pay a dividend?
Bien Sparebank ASA currently shows a dividend yield of about 3.70% relative to its recent price (as of Jul 19, 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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