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Bien Sparebank ASA (BIEN) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of Bien Sparebank ASA NOK 108, price NOK 144, upside -25.2%, quality 51 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
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Financial Services · NO · ISIN NO0012706763

BS Some data Sep 24, 2026

Bien Sparebank ASA

BIEN · OL

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

!Fair value kr 107.77 · Overvalued (−25%)
!Quality 51/100
!Expensive Growth (revenue 5y +12.0 %/yr)
✓Highly profitable · 37.2% net margin (TTM)
!Moderate debt · negative free cash flow
·3.98% dividend yield
!Trails peers (4/12)
✓Wide moat 65/100
!Evidence only medium, so the estimate is less certain
!Weak on balance sheet: 25 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

kr 165.00 kr 71.79 Fair Value kr 107.77 Dec 2022 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

45‑month range kr 71.79 – kr 165.00 · fair‑value band kr 103.37 – kr 135.70 · the kr 144.00 price screens above the kr 107.77 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

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.

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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.

Stock analysis

Bien Sparebank ASA (BIEN) currently trades at kr 144.00, while our model-based Fair Value estimate is kr 107.77, implying the stock looks roughly 33.6% overvalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of kr 149.21 per share, and 2 of the 6 models we run sit above the kr 144.00 price.

Bear case: the Dividend Discount group reads lowest at kr 59.19, and 4 of the 6 models stay below the price. Evidence for this calculation is medium.

Scenario range: kr 103.37 (bear) to kr 135.70 (bull), the price of kr 144.00 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 51/100 (solid quality), in the Financial Services sector.

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

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

Key figures

Market cap 818M NOK (≈ $85.9M) · P/E ratio 14.1 · P/S ratio 5.41 · EPS (TTM) kr 10.18 · Dividend yield 4.0% · Net margin 38.3% · Return on equity 8.3% · Return on assets 1.0%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).

What moves the price

The share trades about 13% below its 52-week high and 15% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −37% fair-value upside, at −25%, BIEN screens cheaper than that median.

Fair Value models

Bear kr 103.37 Fair Value kr 107.77 Bull kr 135.70
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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (kr 3.27 per share) are deliberately not added. 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.
Highest evidence
Residual Income kr 103.37 kr 107.77 kr 110.16 76
Gordon GGM kr 37.26 kr 62.40 kr 81.00 68
DDM Multi-Stage kr 37.26 kr 59.19 kr 67.14 67
All 6 models by family
Dividend Discount
Gordon GGM kr 37.26 kr 62.40 kr 81.00 68
DDM Multi-Stage kr 37.26 kr 59.19 kr 67.14 67
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 54
Economic Profit
Residual Income kr 103.37 kr 107.77 kr 110.16 76

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Quality Score breakdown

Overall quality 51/100

Of which business quality 43 · Market factors (momentum, volatility) 57

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 90
Calm price path (market factor)
Momentum 42
Price trend over the last 3–12 months (market factor)
52W Momentum 45
Distance to the 52-week high (market factor)
Net Issuance 82
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. 59/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+11.3%
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.
+12.9%
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.
+12.0%
Start year 2020 (pandemic)
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.
+22.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+18.6%
Dividend (yield on the price)4.0%

BIEN screens 34% overvalued. 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 · 1076 stocks

Beats the industry median on 4/12 measures
Overall it trails its industry peers.
Valuation
Quality Score 50 · Below median
Fair Value upside −25% · Below median
Profitability
Return on equity (TTM) 8% · Below median
Return on assets 1% · Below median
Net margin (TTM) 37% · Above median
Operating margin (TTM) 54% · Top 25%
Growth and dividend
Revenue growth −9% · Bottom 25%
Dividend yield (TTM) 4.0% · Above median
Balance sheet
Debt / equity 1.50× · Highest 25%

Valuation Multiplesvs Banks - Regional median · lower = cheaper

P/E (TTM) 14.1× · Pricier than median
P/B 1.05× · Cheaper than median
P/S (TTM) 4.92× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 11
FUTURE (revenue growth)0 · sector 45
PAST (return on equity)33 · sector 41
HEALTH (low debt)25 · sector 85
DIVIDEND (yield)80 · 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 77.69 SGD 40.48 SGD −48%
China Merchants Bank Co 3968 HK$51.25 HK$62.30 +22%
Intesa Sanpaolo S.p.A ISP €6.73 €4.04 −40%
HDFC Bank Limited HDFCBANK ₹737.25 ₹406.85 −45%
BNP Paribas SA BNP €98.43 €105.99 +8%
UniCredit S.p.A UCG €82.18 €77.62 −6%
Mizuho Financial Group MFG $10.74 $6.75 −37%
ICICI Bank Limited ICICIBANK ₹1,340 ₹616.16 −54%
The PNC Financial Services Group PNC $224.03 $159.52 −29%
Oversea-Chinese Banking Corporation O39 32.14 SGD 19.80 SGD −38%

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Bien Sparebank ASA · Fair Value
kr 107.77 −34%Fair Value
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Cite: Fair Value Calculator (2026). "Bien Sparebank ASA Fair Value". https://www.fairvalue-calculator.com/stock/BIEN

Frequently asked questions

Is Bien Sparebank ASA (BIEN) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of kr 107.77 versus a price of kr 144.00, about −25% upside (overvalued).
What is the fair value of BIEN?
Our model-based fair value for Bien Sparebank ASA is kr 107.77 (as of Sep 24, 2026), built from audited fundamentals. The current price: 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 price target for Bien Sparebank ASA (BIEN)?
Our model-based price target is the fair value of kr 107.77 (as of Sep 24, 2026) from 6 valuation models. Cautious scenario kr 103.37, optimistic scenario kr 135.70. It is a calculation from audited fundamentals, not an analyst target.
What is the Bien Sparebank ASA stock forecast for 2026?
Our models put fair value at kr 107.77, about −25% upside versus a price of kr 144.00 (overvalued). Cautious scenario kr 103.37, optimistic scenario kr 135.70. The calculation is refreshed regularly with new filings.
What is the revenue of Bien Sparebank ASA (BIEN)?
Bien Sparebank ASA reported trailing-twelve-month revenue of about 165M NOK (latest available figure, as of Sep 24, 2026).
Does Bien Sparebank ASA pay a dividend?
Bien Sparebank ASA currently shows a dividend yield of about 3.98% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Bien Sparebank ASA (BIEN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Bien Sparebank ASA it is kr 107.77 per share (as of Sep 24, 2026), against a price of kr 144.00. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Bien Sparebank ASA stock overvalued or undervalued in 2026?
As of Sep 24, 2026, BIEN trades above its calculated fair value: price kr 144.00, fair value kr 107.77, a gap of about −25% (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 BIEN?
No. The price is what the market pays today (kr 144.00); the fair value is what the company's own numbers justify (kr 107.77). For Bien Sparebank ASA the two are kr 36.23 per share apart. That gap is exactly why we show both numbers side by side.
How much is Bien Sparebank ASA worth?
The market values Bien Sparebank ASA at about 818M NOK (market capitalisation, as of Sep 24, 2026). Per share that is kr 144.00; our models calculate a fair value of kr 107.77 per share.
What do the bullish and bearish scenarios say about BIEN?
Our models span a range for Bien Sparebank ASA: cautious scenario kr 103.37, base kr 107.77, optimistic kr 135.70 per share (as of Sep 24, 2026, price kr 144.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BIEN?
Bien Sparebank ASA trades at a price-to-earnings ratio of 14.1 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 107.77 is built from several models across several years. Other multiples: P/B 1.1, P/S 4.9.
How solid is the balance sheet of Bien Sparebank ASA (BIEN)?
Balance-sheet figures for Bien Sparebank ASA (as of Sep 24, 2026): return on equity 8.3%, debt of 1.50 per unit of equity. They feed the Quality Score of 51/100, which measures business quality independently of the share price.
How far is BIEN from its 52-week high?
Bien Sparebank ASA trades at kr 144.00, about 13% below its 52-week high of kr 165.00 and 15% above the low of kr 125.19 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of kr 107.77 is for.
Which stocks are comparable to Bien Sparebank ASA?
From the same area (Financial Services) we also value DBS Group, China Merchants Bank Co, Intesa Sanpaolo S.p.A, HDFC Bank Limited, 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 Bien Sparebank ASA stock attractive at the current price?
The data as of Sep 24, 2026: price kr 144.00, calculated fair value kr 107.77 (−25%), Quality Score 51/100, 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 BIEN calculated?
We run Bien Sparebank ASA 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 kr 107.77, 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 13.0 % above its aggregate fair value. Bien Sparebank ASA 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 Bien Sparebank ASA (BIEN)?
The closing price on Sep 24, 2026 was kr 144.00. Our model-based fair value is kr 107.77, about −25% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Bien Sparebank ASA right now?
The price sits above even our optimistic bull case (kr 135.70). The favourable scenario is already priced in. Solid but not exceptional quality (51/100) 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 Bien Sparebank ASA

How large is the market capitalisation of Bien Sparebank ASA (BIEN)?
The market capitalisation of Bien Sparebank ASA is 818M NOK (≈ $85.9M). 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 Bien Sparebank ASA (BIEN)?
The price-to-sales ratio of Bien Sparebank ASA is 5.41 (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 Bien Sparebank ASA (BIEN)?
Earnings per share at Bien Sparebank ASA are kr 10.18 (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 Bien Sparebank ASA (BIEN)?
The dividend yield of Bien Sparebank ASA is 4.0% (payout 56.3%). 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 Bien Sparebank ASA (BIEN)?
The net margin of Bien Sparebank ASA is 38.3% (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 Bien Sparebank ASA (BIEN)?
The return on equity (ROE) of Bien Sparebank ASA is 8.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the return on assets of Bien Sparebank ASA (BIEN)?
The return on assets (ROA) of Bien Sparebank ASA is 1.0% (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 Bien Sparebank ASA (BIEN)?
The operating margin of Bien Sparebank ASA is 54.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Bien Sparebank ASA (BIEN)?
Revenue at Bien Sparebank ASA is growing −9.0% versus a year earlier (3y avg +12.9%). 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 Bien Sparebank ASA (BIEN)?
Earnings per share at Bien Sparebank ASA are growing −15.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Bien Sparebank ASA (BIEN) generate?
The free cash flow of Bien Sparebank ASA is −155M 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 Bien Sparebank ASA (BIEN) carry?
The net debt of Bien Sparebank ASA is 1.3B 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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