Norwegian Block Exchange AS, a financial services company, (NBX) Fair Value & Analysis
Financial Services · NO · Market cap 167M NOK
Fair value as of: Jul 15, 2026
From 1 valuation models · updated 26 days ago
Share price −13.1% over the past month.
Below-average quality, and screening another 67% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (kr 0.2720). The favourable scenario is already priced in.
- Weak quality (19/100) and above fair value at the same time, the margin of safety is missing on both counts.
- The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
- A fairly wide model range (kr 0.1360 to kr 0.2720) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.
How to read this chart
56‑month range kr 0.1955 – kr 11.00 · fair‑value band kr 0.1360 – kr 0.2720 · the kr 0.5390 price screens above the kr 0.1785 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 15, 2026.
Analysis
Norwegian Block Exchange AS, a financial services company, (NBX) currently trades at kr 0.5390, while our model-based Fair Value estimate is kr 0.1785, implying the stock looks roughly 66.9% overvalued today. The Quality Score stands at 19/100 (below-average quality), in the Financial Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).
Over the trailing twelve months, Norwegian Block Exchange AS, a financial services company, generated revenue of 18.5M NOK at a net margin of -78.6%. Revenue declined 16.1% year over year. It earns a return on equity of -18.2%. Net debt stands at 21.4M NOK. Fundamentals as of Jul 15, 2026
Our scenario range runs from kr 0.1360 (bear case) to kr 0.2720 (bull case); at kr 0.5390, the current price sits above 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 55% below its 52-week high and 116% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 11% fair-value upside, at -67%, NBX 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.
All 1 models by family
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 25 · Market factors (momentum, volatility) 43
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
Norwegian Block Exchange AS, a financial services company, offers an internet-based marketplace for customers to buy and sell digital assets in Norway. It develops digital asset-based products; and offers OTC trading, compliance and custody, staking, and credit card with bitcoin cashback services.
Full company description
Norwegian Block Exchange AS, a financial services company, offers an internet-based marketplace for customers to buy and sell digital assets in Norway. It develops digital asset-based products; and offers OTC trading, compliance and custody, staking, and credit card with bitcoin cashback services. Norwegian Block Exchange AS was incorporated in 2018 and is based in Lysaker, Norway.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Norwegian Block Exchange AS, a financial services company, reported revenue of kr 18.5M in FY2025 versus kr 83.8K in FY2021, a compound +285.3%/yr. Reported net income was −kr 14.5M in FY2025.
NBX screens 67% overvalued. Compare with Huatai Securities Co →
Peer Group
Capital Markets · 423 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.
Valuation Multiples vs Capital Markets median · lower = cheaper
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 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Capital Markets stocks, each showing price versus our Fair Value estimate (as of Jul 15, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Huatai Securities Co HTSC | $0.2700 | $0.0400 | -85% |
| Mirae Asset Securities Co 006800 | 38,750 KRW | 31,645 KRW | -18% |
| Meritz Financial Group 138040 | 117,000 KRW | 87,706 KRW | -25% |
| Korea Investment Holdings 071050 | 239,000 KRW | 318,825 KRW | +33% |
| NH Investment & Securities Co 005940 | 31,000 KRW | 37,133 KRW | +20% |
| Samsung Securities Co 016360 | 107,700 KRW | 126,487 KRW | +17% |
| Motilal Oswal Financial Services Limited MOTILALOFS | ₹967.00 | ₹299.65 | -69% |
| Kiwoom Securities Co 039490 | 322,000 KRW | 358,091 KRW | +11% |
| SSI Securities Corporation SSI | 24,250 VND | 28,021 VND | +16% |
| Bolsas y Mercados Argentinos S.A BYMA | 313.75 ARS | 120.22 ARS | -62% |
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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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