Laan & Spar Bank AS (LASP) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Laan & Spar Bank AS DKK 1,164, price DKK 1,335, upside -12.8%, quality 45 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 23, 2026.
How to read this chart
60‑month range kr 413.70 – kr 1,711 · fair‑value band kr 971.71 – kr 1,853 · the kr 1,335 price screens above the kr 1,164 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
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Lån & Spar Bank A/S provides various banking products and services in Denmark. The company offers deposits, savings, student, grandchild, budget, salary, and payment accounts; private, car, caravan, motorcycle, housing, mortgage, cottage, business, and energy loans; cards; and payment services.
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Lån & Spar Bank A/S provides various banking products and services in Denmark. The company offers deposits, savings, student, grandchild, budget, salary, and payment accounts; private, car, caravan, motorcycle, housing, mortgage, cottage, business, and energy loans; cards; and payment services. It also provides pension and investment products; and private, life, health, and other insurance products, as well as online and mobile banking services. Lån & Spar Bank A/S was founded in 1880 and is headquartered in Copenhagen, Denmark.
Stock analysis
Laan & Spar Bank AS (LASP) currently trades at kr 1,335, while our model-based Fair Value estimate is kr 1,164, implying the stock looks roughly 14.7% overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of kr 1,462 per share, and 2 of the 6 models we run sit above the kr 1,335 price.
Bear case: the Dividend Discount group reads lowest at kr 302.96, and 4 of the 6 models stay below the price. Evidence for this calculation is medium.
Scenario range: kr 971.71 (bear) to kr 1,853 (bull), the price of kr 1,335 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 45/100 (below-average quality), in the Financial Services sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Laan & Spar Bank AS reported revenue of 1.9B DKK in FY2025 versus 1.0B DKK in FY2021, a compound +17.7%/yr. Reported net income was 411M DKK in FY2025, compounding +19.4%/yr from FY2021.
Key figures
Market cap 4.6B DKK (≈ $704M) · P/E ratio 11.3 · P/S ratio 2.42 · EPS (TTM) kr 117.65 · Dividend yield 1.5% · Net margin 21.3% · Return on equity 11.8% · 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 22% below its 52-week high and 40% 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 −13%, LASP screens cheaper than that median.
Fair Value models
Bear kr 971.71Fair Value kr 1,164Bull kr 1,853
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 71.43 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.57/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−9.8%
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.
+15.0%
Start year 2020 (pandemic). Over 10 years: +9.0% 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.
+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.
+20.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+18.6%
Dividend (yield on the price)1.5%
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.19% vs 12%, picking up
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.20% → 28%
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 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score55 · Above median
Fair Value upside−13% · Above median
Profitability
Return on equity (TTM)12% · Above median
Return on assets1% · Above median
Net margin (TTM)26% · Below median
Operating margin (TTM)28% · Below median
Growth and dividend
Revenue growth3% · Below median
Dividend yield (TTM)1.5% · Bottom 25%
Balance sheet
Debt / equity0.06× · Lowest 25%
Valuation Multiplesvs Banks - Regional median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Laan & Spar Bank AS Fair Value". https://www.fairvalue-calculator.com/stock/LASP
Frequently asked questions
Is Laan & Spar Bank AS (LASP) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of kr 1,164 versus a price of kr 1,335, about −13% upside (overvalued).
What is the fair value of LASP?
Our model-based fair value for Laan & Spar Bank AS is kr 1,164 (as of Sep 23, 2026), built from audited fundamentals. The current price: kr 1,335.
What is the quality score of LASP?
Laan & Spar Bank AS has a Quality Score of 45/100. 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 Laan & Spar Bank AS (LASP)?
Our model-based price target is the fair value of kr 1,164 (as of Sep 23, 2026) from 6 valuation models. Cautious scenario kr 971.71, optimistic scenario kr 1,853. It is a calculation from audited fundamentals, not an analyst target.
What is the Laan & Spar Bank AS stock forecast for 2026?
Our models put fair value at kr 1,164, about −13% upside versus a price of kr 1,335 (overvalued). Cautious scenario kr 971.71, optimistic scenario kr 1,853. The calculation is refreshed regularly with new filings.
What is the revenue of Laan & Spar Bank AS (LASP)?
Laan & Spar Bank AS reported trailing-twelve-month revenue of about 1.6B DKK (latest available figure, as of Sep 23, 2026).
Does Laan & Spar Bank AS pay a dividend?
Laan & Spar Bank AS currently shows a dividend yield of about 1.50% relative to its recent price (as of Sep 23, 2026).
What is the intrinsic value of Laan & Spar Bank AS (LASP)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Laan & Spar Bank AS it is kr 1,164 per share (as of Sep 23, 2026), against a price of kr 1,335. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Laan & Spar Bank AS stock overvalued or undervalued in 2026?
As of Sep 23, 2026, LASP trades above its calculated fair value: price kr 1,335, fair value kr 1,164, a gap of about −13% (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 LASP?
No. The price is what the market pays today (kr 1,335); the fair value is what the company's own numbers justify (kr 1,164). For Laan & Spar Bank AS the two are kr 171.12 per share apart. That gap is exactly why we show both numbers side by side.
How much is Laan & Spar Bank AS worth?
The market values Laan & Spar Bank AS at about 4.6B DKK (market capitalisation, as of Sep 23, 2026). Per share that is kr 1,335; our models calculate a fair value of kr 1,164 per share.
What do the bullish and bearish scenarios say about LASP?
Our models span a range for Laan & Spar Bank AS: cautious scenario kr 971.71, base kr 1,164, optimistic kr 1,853 per share (as of Sep 23, 2026, price kr 1,335). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of LASP?
Laan & Spar Bank AS trades at a price-to-earnings ratio of 11.3 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 1,164 is built from several models across several years. Other multiples: PEG 1.2, P/B 1.3, P/S 2.9.
What is the PEG ratio of LASP?
The PEG ratio of Laan & Spar Bank AS is 1.18 (P/E divided by earnings growth, as of Sep 23, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Laan & Spar Bank AS (LASP)?
Balance-sheet figures for Laan & Spar Bank AS (as of Sep 23, 2026): return on equity 11.8%, debt of 0.06 per unit of equity. They feed the Quality Score of 45/100, which measures business quality independently of the share price.
How far is LASP from its 52-week high?
Laan & Spar Bank AS trades at kr 1,335, about 22% below its 52-week high of kr 1,711 and 40% above the low of kr 954.10 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of kr 1,164 is for.
Which stocks are comparable to Laan & Spar Bank AS?
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 Laan & Spar Bank AS stock attractive at the current price?
The data as of Sep 23, 2026: price kr 1,335, calculated fair value kr 1,164 (−13%), Quality Score 45/100, 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 LASP calculated?
We run Laan & Spar Bank 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 1,164, 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. Laan & Spar Bank AS 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 Laan & Spar Bank AS (LASP)?
The closing price on Sep 23, 2026 was kr 1,335. Our model-based fair value is kr 1,164, about −13% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Laan & Spar Bank AS right now?
Solid but not exceptional quality (45/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (kr 971.71 to kr 1,853) 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 Laan & Spar Bank AS (LASP) come from?
Earnings per share at Laan & Spar Bank AS grew +13.3 % a year from 2014 to 2025. Broken into its drivers: revenue per share +7.0 %, EBIT margin +6.2 %, tax rate −0.3 %, 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 Laan & Spar Bank AS
How large is the market capitalisation of Laan & Spar Bank AS (LASP)?
The market capitalisation of Laan & Spar Bank AS is 4.6B DKK (≈ $704M). 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 Laan & Spar Bank AS (LASP)?
The price-to-sales ratio of Laan & Spar Bank AS is 2.42 (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 Laan & Spar Bank AS (LASP)?
Earnings per share at Laan & Spar Bank AS are kr 117.65 (price ÷ EPS = P/E 11.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Laan & Spar Bank AS (LASP)?
The dividend yield of Laan & Spar Bank AS is 1.5% (payout 17.0%). 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 Laan & Spar Bank AS (LASP)?
The net margin of Laan & Spar Bank AS is 21.3% (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 Laan & Spar Bank AS (LASP)?
The return on equity (ROE) of Laan & Spar Bank 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 Laan & Spar Bank AS (LASP)?
On an EBIT basis the return on assets of Laan & Spar Bank AS 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 Laan & Spar Bank AS (LASP)?
The operating margin of Laan & Spar Bank AS is 28.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Laan & Spar Bank AS (LASP)?
Revenue at Laan & Spar Bank AS is growing +3.4% 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 Laan & Spar Bank AS (LASP)?
Earnings per share at Laan & Spar Bank AS are growing −4.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Laan & Spar Bank AS (LASP) generate?
The free cash flow of Laan & Spar Bank AS is −613M DKK (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Laan & Spar Bank AS (LASP) hold?
Laan & Spar Bank AS holds more cash than debt, 13.5B DKK net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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