Morrow Bank (MORROW) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Morrow Bank SEK 10.52, price SEK 16.58, upside -36.6%, quality 40 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Watch Morrow Bank for free, get notified when fair value or trend changes. Plus fair value for all 35,000+ stocks, 14 days of Pro free, no card.Watch for freePro now: $1 first month
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Sep 24, 2026.
How to read this chart
9‑month range kr 3.78 – kr 16.58 · fair‑value band kr 9.63 – kr 13.46 · the kr 16.58 price screens above the kr 10.52 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Sep 24, 2026.
Follow Morrow Bank in your weekly email
Every Wednesday you see whether Morrow Bank is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
Morrow Bank AB provides unsecured financing to consumers in Norway, Sweden, and Finland. The company offers deposit products, consumer loans, and credit cards. Morrow Bank AB was founded in 2012 and is headquartered in Stockholm, Sweden.
Stock analysis
Morrow Bank (MORROW) currently trades at kr 16.58, while our model-based Fair Value estimate is kr 10.52, implying the stock looks roughly 57.6% overvalued today.
Show more
Valuation
Bull case: the Multiples group reads highest at a median of kr 15.55 per share, and 0 of the 4 models we run sit above the kr 16.58 price.
Bear case: the Asset-Based group reads lowest at kr 7.73, and 4 of the 4 models stay below the price. Evidence for this calculation is medium.
Scenario range: kr 9.63 (bear) to kr 13.46 (bull), the price of kr 16.58 sits above 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 40/100 (below-average quality), in the Financial Services sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Morrow Bank reported revenue of 1.4B SEK in FY2025 versus 801M SEK in FY2022, a compound +21.2%/yr. Reported net income was 282M SEK in FY2025, compounding +579.0%/yr from FY2022. FY2022 was a trough year, so the rate overstates the trend.
Key figures
Market cap 3.8B SEK (≈ $386M) · P/E ratio 16.3 · P/S ratio 3.21 · EPS (TTM) kr 1.02 · Dividend yield 2.9% · Net margin 19.8% · Return on equity 11.2% · Return on assets 1.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
For context, the median of 10 Financial Services peers we cover trades at −38% fair-value upside, at −37%, MORROW screens cheaper than that median.
Fair Value models
Bear kr 9.63Fair Value kr 10.52Bull kr 13.46
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 0.7489 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
+11.6%
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.
+21.2%
’22
’23
’24
’25
What shareholders gained per year (last 3 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 3 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.
≈ +56.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+54.0%
Dividend (yield on the price)2.9%
⚠ Approximate: the rate leans on 2025, which sits 84% above its own trend.
Price, fair value, quality and upside side by side.
Free, no sign-up
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 6/11 measures
A mixed picture versus its industry peers.
Valuation
Quality Score37 · Bottom 25%
Fair Value upside−35% · Below median
Profitability
Return on equity (TTM)11% · Above median
Return on assets1% · Top 25%
Net margin (TTM)38% · Top 25%
Operating margin (TTM)46% · Above median
Growth and dividend
Revenue growth10% · Above median
Dividend yield (TTM)2.9% · Above median
Valuation Multiplesvs Banks - Regional median · lower = cheaper
P/E (TTM)16.3× · Priciest 25%
P/B1.38× · Pricier than median
P/S (TTM)4.99× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 11
FUTURE (revenue growth)50· sector 45
PAST (return on equity)45· sector 41
HEALTH (low debt)0· sector 85
DIVIDEND (yield)58· sector 53
VALUE 0: the price sits above our fair-value range.
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). "Morrow Bank Fair Value". https://www.fairvalue-calculator.com/stock/MORROW
Frequently asked questions
Is Morrow Bank (MORROW) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of kr 10.52 versus a price of kr 16.58, about −37% upside (overvalued).
What is the fair value of MORROW?
Our model-based fair value for Morrow Bank is kr 10.52 (as of Sep 24, 2026), built from audited fundamentals. The current price: kr 16.58.
What is the quality score of MORROW?
Morrow Bank has a Quality Score of 40/100. 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 Morrow Bank (MORROW)?
Our model-based price target is the fair value of kr 10.52 (as of Sep 24, 2026) from 4 valuation models. Cautious scenario kr 9.63, optimistic scenario kr 13.46. It is a calculation from audited fundamentals, not an analyst target.
What is the Morrow Bank stock forecast for 2026?
Our models put fair value at kr 10.52, about −37% upside versus a price of kr 16.58 (overvalued). Cautious scenario kr 9.63, optimistic scenario kr 13.46. The calculation is refreshed regularly with new filings.
What is the revenue of Morrow Bank (MORROW)?
Morrow Bank reported trailing-twelve-month revenue of about 752M SEK (latest available figure, as of Sep 24, 2026).
Does Morrow Bank pay a dividend?
Morrow Bank currently shows a dividend yield of about 2.91% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Morrow Bank (MORROW)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Morrow Bank it is kr 10.52 per share (as of Sep 24, 2026), against a price of kr 16.58. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).
Is Morrow Bank stock overvalued or undervalued in 2026?
As of Sep 24, 2026, MORROW trades above its calculated fair value: price kr 16.58, fair value kr 10.52, a gap of about −37% (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 MORROW?
No. The price is what the market pays today (kr 16.58); the fair value is what the company's own numbers justify (kr 10.52). For Morrow Bank the two are kr 6.06 per share apart. That gap is exactly why we show both numbers side by side.
How much is Morrow Bank worth?
The market values Morrow Bank at about 3.8B SEK (market capitalisation, as of Sep 24, 2026). Per share that is kr 16.58; our models calculate a fair value of kr 10.52 per share.
What do the bullish and bearish scenarios say about MORROW?
Our models span a range for Morrow Bank: cautious scenario kr 9.63, base kr 10.52, optimistic kr 13.46 per share (as of Sep 24, 2026, price kr 16.58). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MORROW?
Morrow Bank trades at a price-to-earnings ratio of 16.3 (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 10.52 is built from several models across several years. Other multiples: P/B 1.4, P/S 5.0.
How solid is the balance sheet of Morrow Bank (MORROW)?
Balance-sheet figures for Morrow Bank (as of Sep 24, 2026): return on equity 11.2%. They feed the Quality Score of 40/100, which measures business quality independently of the share price.
Which stocks are comparable to Morrow Bank?
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 Morrow Bank stock attractive at the current price?
The data as of Sep 24, 2026: price kr 16.58, calculated fair value kr 10.52 (−37%), Quality Score 40/100, from 4 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 MORROW calculated?
We run Morrow Bank through 4 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 10.52, 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 13.2 % above its aggregate fair value. Morrow Bank 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 Morrow Bank (MORROW)?
The closing price on Sep 24, 2026 was kr 16.58. Our model-based fair value is kr 10.52, about −37% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Morrow Bank right now?
The price sits above even our optimistic bull case (kr 13.46). The favourable scenario is already priced in. Weak quality (40/100) and above fair value at the same time, the margin of safety is missing on both counts. 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 Morrow Bank
How large is the market capitalisation of Morrow Bank (MORROW)?
The market capitalisation of Morrow Bank is 3.8B SEK (≈ $386M). 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 Morrow Bank (MORROW)?
The price-to-sales ratio of Morrow Bank is 3.21 (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 Morrow Bank (MORROW)?
Earnings per share at Morrow Bank are kr 1.02 (price ÷ EPS = P/E 16.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Morrow Bank (MORROW)?
The dividend yield of Morrow Bank is 2.9% (payout 47.3%). 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 Morrow Bank (MORROW)?
The net margin of Morrow Bank is 19.8% (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 Morrow Bank (MORROW)?
The return on equity (ROE) of Morrow Bank is 11.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the return on assets of Morrow Bank (MORROW)?
The return on assets (ROA) of Morrow Bank 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 Morrow Bank (MORROW)?
The operating margin of Morrow Bank is 45.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Morrow Bank (MORROW)?
Revenue at Morrow Bank is growing +9.9% versus a year earlier (3y avg +21.2%). 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 Morrow Bank (MORROW)?
Earnings per share at Morrow Bank are growing +2.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Morrow Bank (MORROW) generate?
The free cash flow of Morrow Bank is −783M SEK (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 Morrow Bank (MORROW) carry?
The net debt of Morrow Bank is 809M SEK (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed
Watch Morrow Bank in the live analysis
One click puts Morrow Bank on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.
