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Jaeren Sparebank (JAREN) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of Jaeren Sparebank NOK 537, price NOK 340, upside +57.8%, quality 44 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
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Financial Services · NO · ISIN NO0010359433

JS Some data Sep 24, 2026

Jaeren Sparebank

JAREN · OL

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

✓Fair value kr 536.61 · Strongly undervalued (+58%)
!Quality 44/100
!Expensive Growth (revenue 5y +11.7 %/yr)
✓Highly profitable · 51.7% net margin (TTM)
!High debt · negative free cash flow
·5.88% dividend yield
✓Ranks above peers (9/12)
✓Wide moat 65/100
!Insider activity 40/100
!Evidence only medium, so the estimate is less certain
!Weak on balance sheet: 21 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 368.82 kr 127.68 Fair Value kr 536.61 Jun 2021 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

60‑month range kr 127.68 – kr 368.82 · fair‑value band kr 486.74 – kr 703.16 · the kr 340.00 price screens below the kr 536.61 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

Jæren Sparebank engages in providing banking and financial services to personal and agricultural customers as well as small/medium-sized businesses in Norway. The company operates through Private Market and Corporate Market. It offers checking and savings accounts; pension accounts; deposits; and refinancing services.

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Jæren Sparebank engages in providing banking and financial services to personal and agricultural customers as well as small/medium-sized businesses in Norway. The company operates through Private Market and Corporate Market. It offers checking and savings accounts; pension accounts; deposits; and refinancing services. The company also provides loans that include mortgage, mortgages for young people, construction loan, fixed-rate loans, proof of financing, moving mortgage, green mortgage, framework loan, refinancing of mortgages, cottage loan, and other types loans, such as refinancing consumer debt, car loan, consumer loans, and loans for motorcycles, motorhomes, and boats. In addition, it offers insurance brokerage services for cars and other vehicles, house and belonging, life and health, and animal insurance. Further, the company provides credit and debit cards and mobile payment solutions. The company was founded in 2015 and is headquartered in Bryne, Norway.

Stock analysis

Jaeren Sparebank (JAREN) currently trades at kr 340.00, while our model-based Fair Value estimate is kr 536.61, implying the stock looks roughly 36.6% undervalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of kr 799.10 per share, and 6 of the 6 models we run sit above the kr 340.00 price.

Bear case: the Asset-Based group reads lowest at kr 382.43, and 0 of the 6 models stay below the price. Evidence for this calculation is medium.

Scenario range: kr 486.74 (bear) to kr 703.16 (bull), the price of kr 340.00 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 44/100 (below-average quality), in the Financial Services sector.

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

Jaeren Sparebank reported revenue of 586M NOK in FY2025 versus 349M NOK in FY2021, a compound +13.8%/yr. Reported net income was 307M NOK in FY2025, compounding +19.4%/yr from FY2021.

Key figures

Market cap 1.7B NOK (≈ $176M) · P/E ratio 11.1 · P/S ratio 5.81 · EPS (TTM) kr 30.70 · Dividend yield 5.9% · Net margin 52.4% · Return on equity 11.3% · Return on assets 1.5%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 43 out of 100 (low confidence).

What moves the price

The share trades about 8% below its 52-week high and 5% 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 58%, JAREN screens cheaper than that median.

Fair Value models

Bear kr 486.74 Fair Value kr 536.61 Bull kr 703.16
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 7.83 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 466.06 kr 506.62 kr 579.55 76
Gordon GGM kr 254.13 kr 425.65 kr 552.48 68
DDM Multi-Stage kr 254.13 kr 403.72 kr 457.93 67
All 6 models by family
Dividend Discount
Gordon GGM kr 254.13 kr 425.65 kr 552.48 68
DDM Multi-Stage kr 254.13 kr 403.72 kr 457.93 67
Multiples
P/E Multiple kr 609.02 kr 812.02 kr 1,015 63
P/B Multiple kr 599.33 kr 799.10 kr 998.88 55
Asset-Based
NCAV (Graham) kr 285.39 kr 382.43 kr 570.79 54
Economic Profit
Residual Income kr 466.06 kr 506.62 kr 579.55 76

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Quality Score breakdown

Overall quality 44/100

Of which business quality 35 · Market factors (momentum, volatility) 54

Profitability 43
Margins and returns on capital today
Quality Growth 46
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 1
Balance sheet, leverage, solvency risk
Investment 76
Disciplined investing over empire-building
Low Volatility 96
Calm price path (market factor)
Momentum 38
Price trend over the last 3–12 months (market factor)
52W Momentum 32
Distance to the 52-week high (market factor)
Net Issuance 83
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. 58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+6.2%
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.
+13.0%
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.
+11.7%
Start year 2020 (pandemic)
Revenue growth 8 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.
+7.8%
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.
+21.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+15.2%
Dividend (yield on the price)5.9%
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.15% vs 8%, picking up
Start year 2020 (pandemic)

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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 9/12 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 42 · Bottom 25%
Fair Value upside +59% · Top 25%
Profitability
Return on equity (TTM) 11% · Above median
Return on assets 2% · Top 25%
Net margin (TTM) 52% · Top 25%
Operating margin (TTM) 54% · Top 25%
Growth and dividend
Revenue growth −3% · Bottom 25%
Dividend yield (TTM) 5.9% · Top 25%
Balance sheet
Debt / equity 1.58× · Highest 25%

Valuation Multiplesvs Banks - Regional median · lower = cheaper

P/E (TTM) 11.1× · Cheaper than median
P/B 0.59× · Cheapest 25%
P/S (TTM) 2.83× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 11
FUTURE (revenue growth)0 · sector 45
PAST (return on equity)45 · sector 41
HEALTH (low debt)21 · sector 85
DIVIDEND (yield)100 · sector 53

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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Jaeren Sparebank · Fair Value
kr 536.61 +37%Fair Value
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Cite: Fair Value Calculator (2026). "Jaeren Sparebank Fair Value". https://www.fairvalue-calculator.com/stock/JAREN

Frequently asked questions

Is Jaeren Sparebank (JAREN) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of kr 536.61 versus a price of kr 340.00, about +58% upside (undervalued).
What is the fair value of JAREN?
Our model-based fair value for Jaeren Sparebank is kr 536.61 (as of Sep 24, 2026), built from audited fundamentals. The current price: kr 340.00.
What is the quality score of JAREN?
Jaeren Sparebank has a Quality Score of 44/100. 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 Jaeren Sparebank (JAREN)?
Our model-based price target is the fair value of kr 536.61 (as of Sep 24, 2026) from 6 valuation models. Cautious scenario kr 486.74, optimistic scenario kr 703.16. It is a calculation from audited fundamentals, not an analyst target.
What is the Jaeren Sparebank stock forecast for 2026?
Our models put fair value at kr 536.61, about +58% upside versus a price of kr 340.00 (undervalued). Cautious scenario kr 486.74, optimistic scenario kr 703.16. The calculation is refreshed regularly with new filings.
What is the revenue of Jaeren Sparebank (JAREN)?
Jaeren Sparebank reported trailing-twelve-month revenue of about 586M NOK (latest available figure, as of Sep 24, 2026).
Does Jaeren Sparebank pay a dividend?
Jaeren Sparebank currently shows a dividend yield of about 5.88% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Jaeren Sparebank (JAREN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Jaeren Sparebank it is kr 536.61 per share (as of Sep 24, 2026), against a price of kr 340.00. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Jaeren Sparebank stock overvalued or undervalued in 2026?
As of Sep 24, 2026, JAREN trades below its calculated fair value: price kr 340.00, fair value kr 536.61, a gap of about +58% (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 JAREN?
No. The price is what the market pays today (kr 340.00); the fair value is what the company's own numbers justify (kr 536.61). For Jaeren Sparebank the two are kr 196.61 per share apart. That gap is exactly why we show both numbers side by side.
How much is Jaeren Sparebank worth?
The market values Jaeren Sparebank at about 1.7B NOK (market capitalisation, as of Sep 24, 2026). Per share that is kr 340.00; our models calculate a fair value of kr 536.61 per share.
What do the bullish and bearish scenarios say about JAREN?
Our models span a range for Jaeren Sparebank: cautious scenario kr 486.74, base kr 536.61, optimistic kr 703.16 per share (as of Sep 24, 2026, price kr 340.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of JAREN?
Jaeren Sparebank trades at a price-to-earnings ratio of 11.1 (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 536.61 is built from several models across several years. Other multiples: P/B 0.6, P/S 2.8.
How solid is the balance sheet of Jaeren Sparebank (JAREN)?
Balance-sheet figures for Jaeren Sparebank (as of Sep 24, 2026): return on equity 11.3%, debt of 1.58 per unit of equity. They feed the Quality Score of 44/100, which measures business quality independently of the share price.
How far is JAREN from its 52-week high?
Jaeren Sparebank trades at kr 340.00, about 8% below its 52-week high of kr 368.72 and 5% above the low of kr 325.10 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of kr 536.61 is for.
Which stocks are comparable to Jaeren Sparebank?
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 Jaeren Sparebank stock attractive at the current price?
The data as of Sep 24, 2026: price kr 340.00, calculated fair value kr 536.61 (+58%), Quality Score 44/100, 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 JAREN calculated?
We run Jaeren Sparebank 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 536.61, 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. Jaeren Sparebank currently trades 58 % 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 Jaeren Sparebank (JAREN)?
The closing price on Sep 24, 2026 was kr 340.00. Our model-based fair value is kr 536.61, about +58% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Jaeren Sparebank right now?
The large discount to fair value meets weak quality (44/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (kr 486.74). 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 Jaeren Sparebank

How large is the market capitalisation of Jaeren Sparebank (JAREN)?
The market capitalisation of Jaeren Sparebank is 1.7B NOK (≈ $176M). 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 Jaeren Sparebank (JAREN)?
The price-to-sales ratio of Jaeren Sparebank is 5.81 (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 Jaeren Sparebank (JAREN)?
Earnings per share at Jaeren Sparebank are kr 30.70 (price ÷ EPS = P/E 11.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Jaeren Sparebank (JAREN)?
The dividend yield of Jaeren Sparebank is 5.9% (payout 65.1%). 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 Jaeren Sparebank (JAREN)?
The net margin of Jaeren Sparebank is 52.4% (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 Jaeren Sparebank (JAREN)?
The return on equity (ROE) of Jaeren Sparebank is 11.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the return on assets of Jaeren Sparebank (JAREN)?
The return on assets (ROA) of Jaeren Sparebank is 1.5% (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 Jaeren Sparebank (JAREN)?
The operating margin of Jaeren Sparebank is 53.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Jaeren Sparebank (JAREN)?
Revenue at Jaeren Sparebank is growing −3.3% versus a year earlier (3y avg +13.0%). 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 Jaeren Sparebank (JAREN)?
Earnings per share at Jaeren Sparebank are growing −6.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Jaeren Sparebank (JAREN) generate?
The free cash flow of Jaeren Sparebank is −303M 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 Jaeren Sparebank (JAREN) carry?
The net debt of Jaeren Sparebank is 4.4B 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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