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Jæren Sparebank (JAREN) Fair Value & Analysis

Financial Services · NO · Market cap 1.7B NOK

JS Jæren Sparebank JAREN · OL
Pricekr 336.00
Fair Valuekr 679.80
Upside+102.3%
Quality44/100
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Expensive Growth
Highly profitable · 51.7% net margin
High debt · negative free cash flow
5.88% dividend yield
Ranks above peers (9/12)
Wide moat 65/100
Evidence: Medium Range kr 509.85 – kr 849.75 Share as image

Fair value as of: Jul 12, 2026

From 6 valuation models · updated 29 days ago

Fair value updated Jul 12, 2026, revised from kr 664.10 to kr 679.80 (+2.4%) since Jun 26, 2026. Share price −1.1% over the past month.

Below-average quality, screening 102% undervalued on our models.

What matters 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 509.85). 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.
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Price vs Fair Value (5 years)

kr 368.82 kr 125.39 Fair Value kr 679.80 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

60‑month range kr 125.39 – kr 368.82 · fair‑value band kr 509.85 – kr 849.75 · the kr 336.00 price screens below the kr 679.80 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 12, 2026.

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Analysis

Jæren Sparebank (JAREN) currently trades at kr 336.00, while our model-based Fair Value estimate is kr 679.80, implying the stock looks roughly 102.3% undervalued today. The Quality Score stands at 44/100 (below-average quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, Jæren Sparebank generated revenue of 586M NOK at a net margin of 51.7%. Revenue declined 3.3% year over year. It earns a return on equity of 11.3%. Net debt stands at 4.4B NOK. Fundamentals as of Jul 12, 2026

Our scenario range runs from kr 509.85 (bear case) to kr 849.75 (bull case); at kr 336.00, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 9% below its 52-week high and 4% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 42% fair-value upside, at 102%, JAREN screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model 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
Highest evidence
Residual Income kr 486.74 kr 536.61 kr 699.46 76
Gordon GGM kr 283.46 kr 510.79 kr 703.16 70
P/E Multiple kr 609.02 kr 812.02 kr 1,015 63
All 6 models by family
Dividend Discount
Gordon GGM kr 283.46 kr 510.79 kr 703.16 70
DDM Multi-Stage kr 283.46 kr 466.59 kr 545.64 61
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 50
Economic Profit
Residual Income kr 486.74 kr 536.61 kr 699.46 76

Widest divergence: Multiples (kr 799.10) versus Asset-Based (kr 382.43). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 586M NOK
Revenue growth (YoY) -3.3%
Net margin 51.7%
Return on equity 11.3%
Free cash flow −303M NOK FY2025
P/E ratio 11.1
More key figures
Operating margin 53.9%
EPS (TTM) kr 30.70
Dividend yield 5.9%
EPS growth (YoY) +30.1%
Net debt 4.4B NOK FY2025

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 44/100

Of which business quality 35 · Market factors (momentum, volatility) 53

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 95
Calm price path (market factor)
Momentum 39
Price trend over the last 3–12 months (market factor)
52W Momentum 31
Distance to the 52-week high (market factor)
Net Issuance 83
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

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.

Full company description

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.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

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

Growth Quality 58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
586M NOK
Latest YoY
+6.2%
Avg. growth/yr (3Y) 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.
+13.0%
Avg. growth/yr (5Y) 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.
+11.7%
Avg. growth/yr (8Y) 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.
+7.8%
Revenue +13.8%/yr
FY21 kr 349M
FY22 kr 406M
FY23 kr 505M
FY24 kr 552M
FY25 kr 586M
Net income +19.4%/yr
FY21 kr 151M
FY22 kr 187M
FY23 kr 239M
FY24 kr 275M
FY25 kr 307M

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Cite: Fair Value Calculator (2026). "Jæren Sparebank Fair Value". https://www.fairvalue-calculator.com/stock/JAREN

Peer Group

Banks - Regional · 1083 stocks

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.

Quality Score 42 · Bottom 25%
Fair Value upside +102% · Top 25%
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%
Revenue growth -3% · Bottom 25%
Dividend yield (TTM) 5.9% · Top 25%
Debt / equity 1.58× · Higher than 75% of peers

Valuation Multiples vs Banks - Regional median · lower = cheaper

P/E (TTM) 11.1× · Cheaper than median
P/B 0.60× · Cheaper than 75% of peers
P/S (TTM) 2.85× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 100 · sector 39
FUTURE 0 · sector 44
PAST 45 · sector 41
HEALTH 21 · sector 85
DIVIDEND 100 · sector 49

Insider activity: 40/100

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Banks - Regional stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).

Stock Price Fair Value vs Fair Value
PT Bank Central Asia Tbk BBCA 6,175 IDR 6,087 IDR -1%
KB Financial Group 105560 184,400 KRW 213,797 KRW +16%
PT Bank Rakyat Indonesia (Persero) Tbk BBRI 2,970 IDR 4,891 IDR +65%
PT Bank Mandiri (Persero) Tbk BMRI 4,310 IDR 7,841 IDR +82%
Banco Bradesco S.A BBD 5,120 ARS 10,240 ARS +100%
Shinhan Financial Group 055550 107,900 KRW 137,259 KRW +27%
Hana Financial Group 086790 136,800 KRW 193,969 KRW +42%
Lloyds Banking Group LYG 4,138 ARS 8,275 ARS +100%
Banco de Chile, CHILE 193.10 CLP 152.55 CLP -21%
Joint Stock Commercial Bank for Foreign Trade of Vietnam, VCB 59,400 VND 84,201 VND +42%

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Frequently asked questions

Is Jæren Sparebank (JAREN) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of kr 679.80 versus a price of kr 336.00, about +102% (undervalued).
What is the fair value of JAREN?
Our model-based fair value for Jæren Sparebank is kr 679.80 (as of Jul 12, 2026), built from audited fundamentals. The current price is kr 336.00.
What is the quality score of JAREN?
Jæren 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 revenue of Jæren Sparebank (JAREN)?
Jæren Sparebank reported trailing-twelve-month revenue of about 586M NOK (latest available figure, as of Jul 12, 2026).
What is the net profit margin of JAREN?
The net profit margin of Jæren Sparebank is about 51.7%, meaning it keeps roughly 51.7% of revenue as net income. Based on the latest reported figures.
Does Jæren Sparebank pay a dividend?
Jæren Sparebank currently shows a dividend yield of about 5.81% relative to its recent price (as of Jul 12, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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