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Jyske Bank A/S (JYSK) Fair Value & Analysis

Financial Services · DK · Market cap 55.8B DKK

JB Jyske Bank A/S JYSK · CO
Pricekr 1,041
Fair Valuekr 1,179
Upside+13.3%
Quality47/100
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Expensive Growth
Highly profitable · 36.8% net margin
High debt · negative free cash flow
2.55% dividend yield
Mixed vs. peers (6/14)
Wide moat 66/100
Evidence: High Range kr 884.24 – kr 1,474 Share as image

Fair value as of: Jul 12, 2026

From 6 valuation models · updated 28 days ago

Fair value updated Jul 12, 2026, revised from kr 1,172 to kr 1,179 (+0.6%) since Jun 26, 2026. Share price +7.4% over the past month.

Below-average quality, screening 13% undervalued on our models.

What matters now

  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
  • Our model range runs from kr 884.24 (bear) to kr 1,474 (bull), base kr 1,179. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 47/100 (below-average quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

kr 1,056 kr 234.28 Fair Value kr 1,179 Apr 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 234.28 – kr 1,056 · fair‑value band kr 884.24 – kr 1,474 · the kr 1,041 price screens below the kr 1,179 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

Jyske Bank A/S (JYSK) currently trades at kr 1,041, while our model-based Fair Value estimate is kr 1,179, implying the stock looks roughly 13.3% undervalued today. The Quality Score stands at 47/100 (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: high), always confirm before acting.

Over the trailing twelve months, Jyske Bank A/S generated revenue of 14.2B DKK at a net margin of 36.8%. Revenue declined 8.1% year over year. It earns a return on equity of 10.3%. Net debt stands at 497B DKK. Fundamentals as of Jul 12, 2026

Our scenario range runs from kr 884.24 (bear case) to kr 1,474 (bull case); at kr 1,041, the current price sits within 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 near its 52-week high and 75% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 42% fair-value upside, at 13%, JYSK screens richer 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 BearBaseBull Evidence
Highest evidence
Residual Income kr 750.39 kr 853.84 kr 1,509 76
Gordon GGM kr 249.49 kr 518.74 kr 822.93 70
P/E Multiple kr 884.24 kr 1,179 kr 1,474 63
All 6 models by family
Dividend Discount
Gordon GGM kr 249.49 kr 518.74 kr 822.93 70
DDM Multi-Stage kr 249.49 kr 404.77 kr 544.43 61
Multiples
P/E Multiple kr 884.24 kr 1,179 kr 1,474 63
P/B Multiple kr 876.04 kr 1,168 kr 1,460 55
Asset-Based
NCAV (Graham) kr 417.16 kr 559.00 kr 834.32 50
Economic Profit
Residual Income kr 750.39 kr 853.84 kr 1,509 76

Widest divergence: Multiples (kr 1,168) versus Dividend Discount (kr 404.77). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 14.2B DKK
Revenue growth (YoY) -8.1%
Net margin 36.8%
Return on equity 10.3%
Free cash flow −11.4B DKK FY2025
P/E ratio 11.8
More key figures
Operating margin 45.7%
EPS (TTM) kr 83.08
Dividend yield 2.6%
EPS growth (YoY) -12.6%
Net debt 497B DKK FY2025

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

Quality Score breakdown

Overall quality 47/100

Of which business quality 41 · Market factors (momentum, volatility) 88

Profitability 31
Margins and returns on capital today
Quality Growth 53
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 25
Balance sheet, leverage, solvency risk
Investment 83
Disciplined investing over empire-building
Low Volatility 95
Calm price path (market factor)
Momentum 76
Price trend over the last 3–12 months (market factor)
52W Momentum 100
Distance to the 52-week high (market factor)
Net Issuance 100
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

Jyske Bank A/S provides financial solutions in Denmark and Germany. The company operates through Banking Activities, Mortgage Activities, and Leasing Activities segments.

Full company description

Jyske Bank A/S provides financial solutions in Denmark and Germany. The company operates through Banking Activities, Mortgage Activities, and Leasing Activities segments. The Banking Activities segment provides advisory services relating to traditional financial solutions for personal, private banking, and corporate customers; and trading and investment services, including trading in interest rate products, currencies, equities, commodities, and derivatives for corporate and institutional customers. The Mortgage Activities segment offers financial solutions for the financing of real property to Danish personal customers, corporate customers, and subsidized rental housing. The Leasing Activities segment provides financial solutions in the form of leasing and financing within car financing, as well as leasing and financing of equipment for the corporate sector. The company also offers pension and insurance products; investment and asset-management products; and payment and advisory services, as well as online and mobile banking services. Jyske Bank A/S was incorporated in 1917 and is based in Silkeborg, Denmark.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Jyske Bank A/S reported revenue of kr 26.7B in FY2025 versus kr 12.9B in FY2021, a compound +19.8%/yr. Reported net income was kr 5.2B in FY2025, compounding +12.8%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
26.7B DKK
Avg. growth/yr (3Y)
+33.5%
Avg. growth/yr (5Y)
+18.4%
Avg. growth/yr (24Y)
+6.0%
Revenue +19.8%/yr
FY21 kr 12.9B
FY22 kr 14.9B
FY23 kr 30.2B
FY24 kr 30.7B
FY25 kr 26.7B
Net income +12.8%/yr
FY21 kr 3.2B
FY22 kr 3.8B
FY23 kr 5.9B
FY24 kr 5.3B
FY25 kr 5.2B

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Cite: Fair Value Calculator (2026). "Jyske Bank A/S Fair Value". https://www.fairvalue-calculator.com/stock/JYSK

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 51 · Below median
Fair Value upside +13% · Above median
Return on equity (TTM) 10% · Above median
Return on assets 1% · Below median
Net margin (TTM) 37% · Above median
Operating margin (TTM) 46% · Above median
Revenue growth -8% · Bottom 25%
Dividend yield (TTM) 2.6% · Above median
Debt / equity 6.39× · Higher than 75% of peers

Valuation Multiples vs Banks - Regional median · lower = cheaper

P/E (TTM) 11.8× · Pricier than median
P/B 1.18× · Pricier than median
P/S (TTM) 3.94× · Pricier than median
EV/EBITDA 41.5× · Pricier than 75% of peers
PEG 0.86× · Cheaper than 75% of peers

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 51 · sector 39
FUTURE 0 · sector 44
PAST 41 · sector 41
HEALTH 0 · sector 85
DIVIDEND 51 · sector 49

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 Jyske Bank A/S (JYSK) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of kr 1,179 versus a price of kr 1,041, about +13% (undervalued).
What is the fair value of JYSK?
Our model-based fair value for Jyske Bank A/S is kr 1,179 (as of Jul 12, 2026), built from audited fundamentals. The current price is kr 1,041.
What is the quality score of JYSK?
Jyske Bank A/S has a Quality Score of 47/100. 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 Jyske Bank A/S (JYSK)?
Jyske Bank A/S reported trailing-twelve-month revenue of about 14.2B DKK (latest available figure, as of Jul 12, 2026).
What is the net profit margin of JYSK?
The net profit margin of Jyske Bank A/S is about 36.8%, meaning it keeps roughly 36.8% of revenue as net income. Based on the latest reported figures.
Does Jyske Bank A/S pay a dividend?
Jyske Bank A/S currently shows a dividend yield of about 2.75% 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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