Groenlandsbanken AS (GRLA) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Groenlandsbanken AS DKK 1,275, price DKK 1,190, upside +7.1%, quality 53 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 399.26 – kr 1,195 · fair‑value band kr 776.92 – kr 1,594 · the kr 1,190 price screens below the kr 1,275 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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GrønlandsBANKEN A/S provides various financial services to private and business customers, and public institutions in Greenland.
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GrønlandsBANKEN A/S provides various financial services to private and business customers, and public institutions in Greenland. It offers housing services, including buying a home, loan restructuring, purchase of cooperative apartment, renovation, property sale, construction or renovation, and equity services; car, snowmobile, climate and environmental, personal, boat, and quick loans; savings, budgeting, insurance, cards, security, and associations ; Qimatut and lifetime pension, critical illness, health and life insurance; and investment services. The company also provides business consulting for property, construction and civil engineering, fishing, tourism, trade, liberal professions, and entrepreneurs; business accounts and payment solutions; company cards; project and operational financing; guarantees; and professional advisory services. GrønlandsBANKEN A/S was founded in 1967 and is headquartered in Nuuk, Greenland.
Stock analysis
Groenlandsbanken AS (GRLA) currently trades at kr 1,190, while our model-based Fair Value estimate is kr 1,275, implying the stock looks roughly 6.7% fairly valued today.
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Valuation
Bull case: the Multiples group reads highest at a median of kr 1,244 per share, and 2 of the 6 models we run sit above the kr 1,190 price.
Bear case: the Asset-Based group reads lowest at kr 595.19, and 4 of the 6 models stay below the price. Evidence for this calculation is medium.
Scenario range: kr 776.92 (bear) to kr 1,594 (bull), the price of kr 1,190 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 53/100 (solid quality), in the Financial Services sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Groenlandsbanken AS reported revenue of 509M DKK in FY2025 versus 333M DKK in FY2021, a compound +11.2%/yr. Reported net income was 181M DKK in FY2025, compounding +8.0%/yr from FY2021.
Key figures
Market cap 2.1B DKK (≈ $326M) · P/E ratio 11.0 · P/S ratio 3.92 · EPS (TTM) kr 107.73 · Dividend yield 6.7% · Net margin 35.5% · Return on equity 11.8% · Return on assets (EBIT) 2.1%.
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 at its 52-week high and 52% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −36% fair-value upside, at 7%, GRLA screens cheaper than that median.
Fair Value models
Bear kr 776.92Fair Value kr 1,275Bull kr 1,594
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 20.36 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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−18.0%
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.
+19.2%
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.
+10.3%
Start year 2020 (pandemic). Over 10 years: +6.0% 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.
+3.2%
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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.
+13.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+6.8%
Dividend (yield on the price)6.7%
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.7% vs 9%, 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.42% → 36%
Start year 2020 (pandemic)
Growth Forecast
Little optimism in the price
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).
less than -40 %
Yearly growth needed for the next five years to justify today's 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 · 1076 stocks
Beats the industry median on 10/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score62 · Top 25%
Fair Value upside+7% · Above median
Profitability
Return on equity (TTM)12% · Above median
Return on assets2% · Top 25%
Net margin (TTM)40% · Top 25%
Operating margin (TTM)52% · Top 25%
Growth and dividend
Revenue growth7% · Below median
Dividend yield (TTM)6.7% · Top 25%
Balance sheet
Debt / equity0.02× · Lowest 25%
Valuation Multiplesvs Banks - Regional median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Groenlandsbanken AS Fair Value". https://www.fairvalue-calculator.com/stock/GRLA
Frequently asked questions
Is Groenlandsbanken AS (GRLA) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of kr 1,275 versus a price of kr 1,190, about +7% upside (fairly valued).
What is the fair value of GRLA?
Our model-based fair value for Groenlandsbanken AS is kr 1,275 (as of Sep 24, 2026), built from audited fundamentals. The current price: kr 1,190.
What is the quality score of GRLA?
Groenlandsbanken AS has a Quality Score of 53/100. 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 Groenlandsbanken AS (GRLA)?
Our model-based price target is the fair value of kr 1,275 (as of Sep 24, 2026) from 6 valuation models. Cautious scenario kr 776.92, optimistic scenario kr 1,594. It is a calculation from audited fundamentals, not an analyst target.
What is the Groenlandsbanken AS stock forecast for 2026?
Our models put fair value at kr 1,275, about +7% upside versus a price of kr 1,190 (fairly valued). Cautious scenario kr 776.92, optimistic scenario kr 1,594. The calculation is refreshed regularly with new filings.
What is the revenue of Groenlandsbanken AS (GRLA)?
Groenlandsbanken AS reported trailing-twelve-month revenue of about 449M DKK (latest available figure, as of Sep 24, 2026).
Does Groenlandsbanken AS pay a dividend?
Groenlandsbanken AS currently shows a dividend yield of about 6.72% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Groenlandsbanken AS (GRLA)?
For today's price to be fair in a discounted-cash-flow model, Groenlandsbanken AS would have to grow free cash flow by less than minus 40 % 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 +10.3 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of GRLA use?
Our models discount Groenlandsbanken AS at 11.0 %: a base by market capitalisation (micro), damped by beta 0.39, 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 Groenlandsbanken AS that is less than minus 40 % 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 Groenlandsbanken AS (GRLA) delivered so far?
Over the past 5 years revenue at Groenlandsbanken AS grew +10.3 % a year. The price currently implies less than minus 40 % 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 Groenlandsbanken AS (GRLA) growing?
The median revenue growth in the sector is +8.5 % a year. That is the yardstick for the growth priced into Groenlandsbanken AS (less than minus 40 % 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 Groenlandsbanken AS (GRLA)?
The free-cash-flow yield on the price is 2.43 %: that much free cash flow Groenlandsbanken AS 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 Groenlandsbanken AS (GRLA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Groenlandsbanken AS it is kr 1,275 per share (as of Sep 24, 2026), against a price of kr 1,190. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Groenlandsbanken AS stock overvalued or undervalued in 2026?
As of Sep 24, 2026, GRLA trades below its calculated fair value: price kr 1,190, fair value kr 1,275, a gap of about +7% (fairly valued). 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 GRLA?
No. The price is what the market pays today (kr 1,190); the fair value is what the company's own numbers justify (kr 1,275). For Groenlandsbanken AS the two are kr 84.93 per share apart. That gap is exactly why we show both numbers side by side.
How much is Groenlandsbanken AS worth?
The market values Groenlandsbanken AS at about 2.1B DKK (market capitalisation, as of Sep 24, 2026). Per share that is kr 1,190; our models calculate a fair value of kr 1,275 per share.
What do the bullish and bearish scenarios say about GRLA?
Our models span a range for Groenlandsbanken AS: cautious scenario kr 776.92, base kr 1,275, optimistic kr 1,594 per share (as of Sep 24, 2026, price kr 1,190). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of GRLA?
Groenlandsbanken AS trades at a price-to-earnings ratio of 11.0 (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 1,275 is built from several models across several years. Other multiples: P/B 1.3, P/S 4.8.
How solid is the balance sheet of Groenlandsbanken AS (GRLA)?
Balance-sheet figures for Groenlandsbanken AS (as of Sep 24, 2026): return on equity 11.8%, debt of 0.02 per unit of equity. They feed the Quality Score of 53/100, which measures business quality independently of the share price.
How far is GRLA from its 52-week high?
Groenlandsbanken AS trades at kr 1,190, at its 52-week high of kr 1,195 and 52% above the low of kr 785.20 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of kr 1,275 is for.
Which stocks are comparable to Groenlandsbanken AS?
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 Groenlandsbanken AS stock attractive at the current price?
The data as of Sep 24, 2026: price kr 1,190, calculated fair value kr 1,275 (+7%), Quality Score 53/100, 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 GRLA calculated?
We run Groenlandsbanken AS 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 1,275, 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 14.0 % above its aggregate fair value. Groenlandsbanken AS currently trades 7 % 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 Groenlandsbanken AS (GRLA)?
The closing price on Sep 24, 2026 was kr 1,190. Our model-based fair value is kr 1,275, about +7% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Groenlandsbanken AS right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (kr 776.92 to kr 1,594) 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.
Where does the earnings growth of Groenlandsbanken AS (GRLA) come from?
Earnings per share at Groenlandsbanken AS grew +10.4 % a year from 2014 to 2025. Broken into its drivers: revenue per share +7.5 %, EBIT margin +0.0 %, tax rate +2.7 %, 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 Groenlandsbanken AS
How large is the market capitalisation of Groenlandsbanken AS (GRLA)?
The market capitalisation of Groenlandsbanken AS is 2.1B DKK (≈ $326M). 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 Groenlandsbanken AS (GRLA)?
The price-to-sales ratio of Groenlandsbanken AS is 3.92 (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 Groenlandsbanken AS (GRLA)?
Earnings per share at Groenlandsbanken AS are kr 107.73 (price ÷ EPS = P/E 11.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Groenlandsbanken AS (GRLA)?
The dividend yield of Groenlandsbanken AS is 6.7% (payout 74.3%). 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 Groenlandsbanken AS (GRLA)?
The net margin of Groenlandsbanken AS is 35.5% (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 Groenlandsbanken AS (GRLA)?
The return on equity (ROE) of Groenlandsbanken AS 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 Groenlandsbanken AS (GRLA)?
On an EBIT basis the return on assets of Groenlandsbanken AS is 2.1% (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 Groenlandsbanken AS (GRLA)?
The operating margin of Groenlandsbanken AS is 52.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Groenlandsbanken AS (GRLA)?
Revenue at Groenlandsbanken AS is growing +7.4% versus a year earlier (3y avg +19.2%). 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 Groenlandsbanken AS (GRLA)?
Earnings per share at Groenlandsbanken AS are growing +34.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Groenlandsbanken AS (GRLA) hold?
Groenlandsbanken AS holds more cash than debt, 2.5B DKK net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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