Fynske Bank A/S (FYNBK) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Fynske Bank A/S DKK 153, price DKK 202, upside -24.4%, quality 58 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
60‑month range kr 87.43 – kr 222.73 · fair‑value band kr 147.67 – kr 194.90 · the kr 202.00 price screens above the kr 152.65 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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Fynske Bank A/S provides banking products and services for private customers, and small and medium-sized businesses in Denmark. The company offers deposits, lending, guarantees, and securities and currency trading services, as well as advisory services for financing, pensions, investment, and real estate trading, etc.
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Fynske Bank A/S provides banking products and services for private customers, and small and medium-sized businesses in Denmark. The company offers deposits, lending, guarantees, and securities and currency trading services, as well as advisory services for financing, pensions, investment, and real estate trading, etc. It also provides housing finance, mortgages, savings and insurance products, share savings accounts, investment accounts, wealth management services, investment funds, and online and mobile banking services; and messaging services. Fynske Bank A/S was founded in 1852 and is headquartered in Svendborg, Denmark.
Stock analysis
Fynske Bank A/S (FYNBK) currently trades at kr 202.00, while our model-based Fair Value estimate is kr 152.65, implying the stock looks roughly 32.3% overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of kr 171.46 per share, and 1 of the 6 models we run sit above the kr 202.00 price.
Bear case: the Dividend Discount group reads lowest at kr 54.46, and 5 of the 6 models stay below the price. Evidence for this calculation is high.
Scenario range: kr 147.67 (bear) to kr 194.90 (bull), the price of kr 202.00 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 58/100 (solid quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Fynske Bank A/S reported revenue of 540M DKK in FY2025 versus 269M DKK in FY2021, a compound +19.0%/yr. Reported net income was 100.0M DKK in FY2025, compounding +11.7%/yr from FY2021.
Key figures
Market cap 1.5B DKK (≈ $233M) · P/E ratio 17.0 · P/S ratio 3.14 · EPS (TTM) kr 11.90 · Dividend yield 2.2% · Net margin 18.5% · Return on equity 6.3% · Return on assets (EBIT) 1.3%.
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 9% below its 52-week high and 27% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −38% fair-value upside, at −24%, FYNBK screens cheaper than that median.
Fair Value models
Bear kr 147.67Fair Value kr 152.65Bull kr 194.90
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 5.51 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.89/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−7.4%
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.
+29.0%
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.
+16.8%
Start year 2020 (pandemic). Over 10 years: +5.3% a year
Revenue growth 25 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.
+5.8%
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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.
+11.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+9.2%
Dividend (yield on the price)2.2%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.9% vs 8%, steady
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.17% → 23%
Start year 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−5.3%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Denmark: IMF forecast 2.1% a year to 2030, 2.0% from 2016 to 2025) that is about −7.2% a year for the price.
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 · 1074 stocks
Beats the industry median on 6/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score56 · Above median
Fair Value upside−24% · Below median
Profitability
Return on equity (TTM)6% · Below median
Return on assets1% · Below median
Net margin (TTM)20% · Bottom 25%
Operating margin (TTM)16% · Bottom 25%
Growth and dividend
Revenue growth−7% · Bottom 25%
Dividend yield (TTM)2.2% · Below median
Balance sheet
Debt / equity0.02× · Lowest 25%
Valuation Multiplesvs Banks - Regional median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Fynske Bank A/S Fair Value". https://www.fairvalue-calculator.com/stock/FYNBK
Frequently asked questions
Is Fynske Bank A/S (FYNBK) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of kr 152.65 versus a price of kr 202.00, about −24% upside (overvalued).
What is the fair value of FYNBK?
Our model-based fair value for Fynske Bank A/S is kr 152.65 (as of Sep 24, 2026), built from audited fundamentals. The current price: kr 202.00.
What is the quality score of FYNBK?
Fynske Bank A/S has a Quality Score of 58/100. 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 Fynske Bank A/S (FYNBK)?
Our model-based price target is the fair value of kr 152.65 (as of Sep 24, 2026) from 6 valuation models. Cautious scenario kr 147.67, optimistic scenario kr 194.90. It is a calculation from audited fundamentals, not an analyst target.
What is the Fynske Bank A/S stock forecast for 2026?
Our models put fair value at kr 152.65, about −24% upside versus a price of kr 202.00 (overvalued). Cautious scenario kr 147.67, optimistic scenario kr 194.90. The calculation is refreshed regularly with new filings.
What is the revenue of Fynske Bank A/S (FYNBK)?
Fynske Bank A/S reported trailing-twelve-month revenue of about 460M DKK (latest available figure, as of Sep 24, 2026).
Does Fynske Bank A/S pay a dividend?
Fynske Bank A/S currently shows a dividend yield of about 2.18% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Fynske Bank A/S (FYNBK)?
For today's price to be fair in a discounted-cash-flow model, Fynske Bank A/S would have to grow free cash flow by -5.3 % per year for five years (discount rate 11.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +16.8 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of FYNBK use?
Our models discount Fynske Bank A/S at 11.0 %: a base by market capitalisation (micro), damped by beta 0.23, country premium for Denmark. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Fynske Bank A/S that is -5.3 % per year a year over ten years, using the same discount rate (11.0 %) and the same formula as our fair value.
How much growth has Fynske Bank A/S (FYNBK) delivered so far?
Over the past 5 years revenue at Fynske Bank A/S grew +16.8 % a year. The price currently implies -5.3 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Fynske Bank A/S (FYNBK) growing?
The median revenue growth in the sector is +8.4 % a year. That is the yardstick for the growth priced into Fynske Bank A/S (-5.3 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Fynske Bank A/S (FYNBK)?
The free-cash-flow yield on the price is 8.80 %: that much free cash flow Fynske Bank A/S produces per unit of market value. When it exceeds the discount rate of our models (11.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Fynske Bank A/S (FYNBK)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Fynske Bank A/S it is kr 152.65 per share (as of Sep 24, 2026), against a price of kr 202.00. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Fynske Bank A/S stock overvalued or undervalued in 2026?
As of Sep 24, 2026, FYNBK trades above its calculated fair value: price kr 202.00, fair value kr 152.65, a gap of about −24% (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 FYNBK?
No. The price is what the market pays today (kr 202.00); the fair value is what the company's own numbers justify (kr 152.65). For Fynske Bank A/S the two are kr 49.35 per share apart. That gap is exactly why we show both numbers side by side.
How much is Fynske Bank A/S worth?
The market values Fynske Bank A/S at about 1.5B DKK (market capitalisation, as of Sep 24, 2026). Per share that is kr 202.00; our models calculate a fair value of kr 152.65 per share.
What do the bullish and bearish scenarios say about FYNBK?
Our models span a range for Fynske Bank A/S: cautious scenario kr 147.67, base kr 152.65, optimistic kr 194.90 per share (as of Sep 24, 2026, price kr 202.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of FYNBK?
Fynske Bank A/S trades at a price-to-earnings ratio of 17.0 (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 152.65 is built from several models across several years. Other multiples: PEG 2.3, P/B 1.0, P/S 3.3, EV/EBITDA 7.1.
What is the PEG ratio of FYNBK?
The PEG ratio of Fynske Bank A/S is 2.30 (P/E divided by earnings growth, as of Sep 24, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Fynske Bank A/S (FYNBK)?
Balance-sheet figures for Fynske Bank A/S (as of Sep 24, 2026): return on equity 6.3%, debt of 0.02 per unit of equity. They feed the Quality Score of 58/100, which measures business quality independently of the share price.
How far is FYNBK from its 52-week high?
Fynske Bank A/S trades at kr 202.00, about 9% below its 52-week high of kr 222.73 and 27% above the low of kr 159.23 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of kr 152.65 is for.
Which stocks are comparable to Fynske Bank A/S?
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 Fynske Bank A/S stock attractive at the current price?
The data as of Sep 24, 2026: price kr 202.00, calculated fair value kr 152.65 (−24%), Quality Score 58/100, 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 FYNBK calculated?
We run Fynske Bank A/S 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 152.65, 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. Fynske Bank A/S 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 Fynske Bank A/S (FYNBK)?
The closing price on Sep 23, 2026 was kr 202.00. Our model-based fair value is kr 152.65, about −24% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Fynske Bank A/S right now?
The price sits above even our optimistic bull case (kr 194.90). The favourable scenario is already priced in. Solid but not exceptional quality (58/100) 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.
Where does the earnings growth of Fynske Bank A/S (FYNBK) come from?
Earnings per share at Fynske Bank A/S grew +10.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share +5.7 %, EBIT margin +5.5 %, tax rate −1.2 %, residual (interest, one-offs) +0.0 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Fynske Bank A/S
How large is the market capitalisation of Fynske Bank A/S (FYNBK)?
The market capitalisation of Fynske Bank A/S is 1.5B DKK (≈ $233M). 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 Fynske Bank A/S (FYNBK)?
The price-to-sales ratio of Fynske Bank A/S is 3.14 (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 Fynske Bank A/S (FYNBK)?
Earnings per share at Fynske Bank A/S are kr 11.90 (price ÷ EPS = P/E 17.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Fynske Bank A/S (FYNBK)?
The dividend yield of Fynske Bank A/S is 2.2% (payout 36.9%). 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 Fynske Bank A/S (FYNBK)?
The net margin of Fynske Bank A/S is 18.5% (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 Fynske Bank A/S (FYNBK)?
The return on equity (ROE) of Fynske Bank A/S is 6.3% (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 Fynske Bank A/S (FYNBK)?
On an EBIT basis the return on assets of Fynske Bank A/S is 1.3% (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 Fynske Bank A/S (FYNBK)?
The operating margin of Fynske Bank A/S is 16.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Fynske Bank A/S (FYNBK)?
Revenue at Fynske Bank A/S is growing −6.9% versus a year earlier (3y avg +29.0%). 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 Fynske Bank A/S (FYNBK)?
Earnings per share at Fynske Bank A/S are growing −36.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Fynske Bank A/S (FYNBK) hold?
Fynske Bank A/S holds more cash than debt, 616M DKK net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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