Flekkefjord Sparebank (FFSB) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Flekkefjord Sparebank NOK 228, price NOK 115, upside +99.1%, quality 37 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 24, 2026.
How to read this chart
28‑month range kr 98.39 – kr 124.17 · fair‑value band kr 210.58 – kr 297.18 · the kr 114.50 price screens below the kr 228.00 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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Flekkefjord Sparebank, a savings bank, provides banking services for retail and corporate markets in Flekkefjord, Egersund, Farsund, Hægebostad, Kristiansand, Kvinesdal, Lindesnes, Lund, Lyngdal, and Sirdal and Sokndal.
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Flekkefjord Sparebank, a savings bank, provides banking services for retail and corporate markets in Flekkefjord, Egersund, Farsund, Hægebostad, Kristiansand, Kvinesdal, Lindesnes, Lund, Lyngdal, and Sirdal and Sokndal. It offers mortgage, car, boat, mortgages for young people, cottage, and construction loans; bank, Boligsparing for ungdom, mutual fund, Borea, stock trading, and retirement savings; and business loans/credit and financing, guarantees, and leasing facilities. The company also provides life and personal, house and contents, vehicle, travel and leisure, property, and liability insurance products; and mobile and online banking, cards, accounts, bankID, watch and mobile payment, foreign payments, contract giro and eInvoice, telebank, and Vips services, as well as pension services. Flekkefjord Sparebank was founded in 1837 and is headquartered in Flekkefjord, Norway.
Stock analysis
Flekkefjord Sparebank (FFSB) currently trades at kr 114.50, while our model-based Fair Value estimate is kr 228.00, implying the stock looks roughly 49.8% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of kr 1,115 per share, and 4 of the 4 models we run sit above the kr 114.50 price.
Bear case: the Asset-Based group reads lowest at kr 713.93, and 0 of the 4 models stay below the price. Evidence for this calculation is high.
Scenario range: kr 210.58 (bear) to kr 297.18 (bull), the price of kr 114.50 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 37/100 (below-average quality), in the Financial Services sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Flekkefjord Sparebank reported revenue of 336M NOK in FY2025 versus 189M NOK in FY2021, a compound +15.4%/yr. Reported net income was 127M NOK in FY2025, compounding +22.5%/yr from FY2021.
Key figures
Market cap 172M NOK (≈ $18.0M) · P/E ratio 1.3 · P/S ratio 0.50 · EPS (TTM) kr 86.82 · Dividend yield 5.6% · Net margin 37.7% · Return on equity 8.1% · Return on assets (EBIT) 1.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 7% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −36% fair-value upside, at 99%, FFSB screens cheaper than that median.
Fair Value models
Bear kr 210.58Fair Value kr 228.00Bull kr 297.18
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 59.05 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.
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.57/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−48.3%
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.
+6.4%
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.
+25.5%
Start year 2020 (pandemic). Over 10 years: +14.1% 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.
+14.1%
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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.
+30.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+24.5%
Dividend (yield on the price)5.6%
Profit margin 2019 to 2024 ⓘ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.68% → 23%
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 · 1076 stocks
Beats the industry median on 9/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score37 · Bottom 25%
Fair Value upside+99% · Top 25%
Profitability
Return on equity (TTM)8% · Below median
Return on assets1% · Above median
Net margin (TTM)39% · Top 25%
Operating margin (TTM)43% · Above median
Growth and dividend
Revenue growth14% · Above median
Dividend yield (TTM)5.6% · Top 25%
Balance sheet
Debt / equity1.82× · Highest 25%
Valuation Multiplesvs Banks - Regional median · lower = cheaper
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). "Flekkefjord Sparebank Fair Value". https://www.fairvalue-calculator.com/stock/FFSB
Frequently asked questions
Is Flekkefjord Sparebank (FFSB) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of kr 228.00 versus a price of kr 114.50, about +99% upside (undervalued).
What is the fair value of FFSB?
Our model-based fair value for Flekkefjord Sparebank is kr 228.00 (as of Sep 24, 2026), built from audited fundamentals. The current price: kr 114.50.
What is the quality score of FFSB?
Flekkefjord Sparebank has a Quality Score of 37/100. 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 Flekkefjord Sparebank (FFSB)?
Our model-based price target is the fair value of kr 228.00 (as of Sep 24, 2026) from 4 valuation models. Cautious scenario kr 210.58, optimistic scenario kr 297.18. It is a calculation from audited fundamentals, not an analyst target.
What is the Flekkefjord Sparebank stock forecast for 2026?
Our models put fair value at kr 228.00, about +99% upside versus a price of kr 114.50 (undervalued). Cautious scenario kr 210.58, optimistic scenario kr 297.18. The calculation is refreshed regularly with new filings.
What is the revenue of Flekkefjord Sparebank (FFSB)?
Flekkefjord Sparebank reported trailing-twelve-month revenue of about 323M NOK (latest available figure, as of Sep 24, 2026).
Does Flekkefjord Sparebank pay a dividend?
Flekkefjord Sparebank currently shows a dividend yield of about 5.59% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Flekkefjord Sparebank (FFSB)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Flekkefjord Sparebank it is kr 228.00 per share (as of Sep 24, 2026), against a price of kr 114.50. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).
Is Flekkefjord Sparebank stock overvalued or undervalued in 2026?
As of Sep 24, 2026, FFSB trades below its calculated fair value: price kr 114.50, fair value kr 228.00, a gap of about +99% (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 FFSB?
No. The price is what the market pays today (kr 114.50); the fair value is what the company's own numbers justify (kr 228.00). For Flekkefjord Sparebank the two are kr 113.50 per share apart. That gap is exactly why we show both numbers side by side.
How much is Flekkefjord Sparebank worth?
The market values Flekkefjord Sparebank at about 172M NOK (market capitalisation, as of Sep 24, 2026). Per share that is kr 114.50; our models calculate a fair value of kr 228.00 per share.
What do the bullish and bearish scenarios say about FFSB?
Our models span a range for Flekkefjord Sparebank: cautious scenario kr 210.58, base kr 228.00, optimistic kr 297.18 per share (as of Sep 24, 2026, price kr 114.50). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of FFSB?
Flekkefjord Sparebank trades at a price-to-earnings ratio of 1.3 (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 228.00 is built from several models across several years. Other multiples: P/B 0.1, P/S 0.5, EV/EBITDA 18.5.
How solid is the balance sheet of Flekkefjord Sparebank (FFSB)?
Balance-sheet figures for Flekkefjord Sparebank (as of Sep 24, 2026): return on equity 8.1%, debt of 1.82 per unit of equity. They feed the Quality Score of 37/100, which measures business quality independently of the share price.
How far is FFSB from its 52-week high?
Flekkefjord Sparebank trades at kr 114.50, about 7% below its 52-week high of kr 123.22 and 1% above the low of kr 113.00 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of kr 228.00 is for.
Which stocks are comparable to Flekkefjord Sparebank?
From the same area (Financial Services) we also value DBS Group, China Merchants Bank Co, UniCredit S.p.A, Intesa Sanpaolo S.p.A, 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 Flekkefjord Sparebank stock attractive at the current price?
The data as of Sep 24, 2026: price kr 114.50, calculated fair value kr 228.00 (+99%), Quality Score 37/100, from 4 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 FFSB calculated?
We run Flekkefjord Sparebank through 4 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 228.00, 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. Flekkefjord Sparebank currently trades 99 % 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 Flekkefjord Sparebank (FFSB)?
The closing price on Sep 24, 2026 was kr 114.50. Our model-based fair value is kr 228.00, about +99% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Flekkefjord Sparebank right now?
The large discount to fair value meets weak quality (37/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (kr 210.58). 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 Flekkefjord Sparebank
How large is the market capitalisation of Flekkefjord Sparebank (FFSB)?
The market capitalisation of Flekkefjord Sparebank is 172M NOK (≈ $18.0M). 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 Flekkefjord Sparebank (FFSB)?
The price-to-sales ratio of Flekkefjord Sparebank is 0.50 (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 Flekkefjord Sparebank (FFSB)?
Earnings per share at Flekkefjord Sparebank are kr 86.82 (price ÷ EPS = P/E 1.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Flekkefjord Sparebank (FFSB)?
The dividend yield of Flekkefjord Sparebank is 5.6% (payout 7.4%). 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 Flekkefjord Sparebank (FFSB)?
The net margin of Flekkefjord Sparebank is 37.7% (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 Flekkefjord Sparebank (FFSB)?
The return on equity (ROE) of Flekkefjord Sparebank is 8.1% (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 Flekkefjord Sparebank (FFSB)?
On an EBIT basis the return on assets of Flekkefjord Sparebank is 1.1% (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 Flekkefjord Sparebank (FFSB)?
The operating margin of Flekkefjord Sparebank is 42.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Flekkefjord Sparebank (FFSB)?
Revenue at Flekkefjord Sparebank is growing +14.2% versus a year earlier (3y avg +6.4%). 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 Flekkefjord Sparebank (FFSB)?
Earnings per share at Flekkefjord Sparebank are growing +1.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Flekkefjord Sparebank (FFSB) generate?
The free cash flow of Flekkefjord Sparebank is −617M 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 Flekkefjord Sparebank (FFSB) carry?
The net debt of Flekkefjord Sparebank is 2.8B 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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