Sparebank 1 Nord-Norge (NONG) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Sparebank 1 Nord-Norge stock NOK 278, price NOK 181, upside +53.6%, quality 59 out of 100. Rating: strongly undervalued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.
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 Nov 4, 2026.
How to read this chart
60‑month range kr 58.18 – kr 182.44 · fair‑value band kr 208.35 – kr 347.25 · the kr 180.88 price screens below the kr 277.80 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 4, 2026.
Follow Sparebank 1 Nord-Norge in your weekly email
Every Wednesday you see whether Sparebank 1 Nord-Norge 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.
SpareBank 1 Nord-Norge provides banking services in Northern Norway. The company offers savings and pension accounts; deposits; bank guarantees; letters of credit; and foreign currency accounts, as well as debit and credit card services.
Show moreShow less
It also provides mortgage, car, consumer, boat, caravans, vehicle, and green loans; and other loan related services. In addition, the company offers vehicle, home, travel, valuable item, car, personal, and pet insurance services.
Further, it provides accounting services, real estate brokerage, leasing/sale-leaseback financing, refinancing, payment, and mobile and online banking services. The company was founded in 1836 and is headquartered in Tromsø, Norway.
Stock analysis
Sparebank 1 Nord-Norge (NONG) currently trades at kr 180.88, while our model-based Fair Value estimate is kr 277.80, implying the stock looks roughly 35% undervalued today.
Show more
Valuation
Bull case: the Dividend Discount group reads highest at a median of kr 297.24 per share, and 4 of the 6 models we run sit above the kr 180.88 price.
Bear case: the Asset-Based group reads lowest at kr 135.34, and 2 of the 6 models stay below the price. Data coverage for this calculation is high.
Scenario range: kr 208.35 (bear) to kr 347.25 (bull), the price of kr 180.88 sits below 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 59/100 (solid quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Sparebank 1 Nord-Norge reported revenue of 5.9B NOK in FY2025 versus 3.8B NOK in FY2021, a compound +11.9%/yr. Reported net income was 3.4B NOK in FY2025, compounding +10.5%/yr from FY2021.
Key figures
Market cap 18.2B NOK (≈ $1.9B) Small · P/E ratio 13.0 · P/S ratio 7.50 · EPS (TTM) kr 13.96 · Dividend yield 4.7% · Net margin 57.9% · Return on equity 15.3% · Return on assets (EBIT) 1.8% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 71 out of 100 (low confidence).
What moves the price
The share trades about 1% 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 −28% fair-value upside, at 54%, NONG screens cheaper than that median.
Fair Value models
Bearkr 208.35Fair Value kr 277.80Bullkr 347.25
Price kr 180.88 · Upside +53.6%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (kr 4.67 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.93/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+1.9%
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.
+15.3%
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.
+11.0%
Start year 2020 (pandemic). Over 10 years: +9.9% 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.
+2.8%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
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.
+15.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+10.7%
Dividend (yield on the price)4.7%
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.10.7% vs 12.1%, steady
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 · 998 stocks
Beats the industry median on 10/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score59 · Above median
Fair Value upside+53.6% · Top 25%
Profitability
Return on equity (12 months)15.3% · Top 25%
Return on assets2.4% · Top 25%
Net margin (12 months)51.6% · Top 25%
Operating margin (12 months)66.6% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)−6.5% · Bottom 25%
Dividend yield (12 months)4.7% · Top 25%
Balance sheet
Debt / equity1.16× · Highest 25%
Valuation Multiplesvs Banks - Regional median · lower = cheaper
P/E (12 months)13.0× · Pricier than median
P/B0.88× · Cheaper than median
P/S (12 months)2.99× · Cheaper than median
Price / free cash flow (fiscal year)8.9× · Cheaper than median
EV/EBITDA12.0× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)100· sector 8
FUTURE (revenue growth)0· sector 47
PAST (return on equity)61· sector 43
HEALTH (low debt)–
DIVIDEND (yield)94· sector 53
HEALTH: for banks, insurers and similar financial firms borrowed money is part of the business, so we do not rate debt here.
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.
Is Sparebank 1 Nord-Norge (NONG) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of kr 277.80 versus a price of kr 180.88, about +54% upside (undervalued).
What is the fair value of NONG?
Our model-based fair value for Sparebank 1 Nord-Norge is kr 277.80 (as of Nov 4, 2026), built from audited fundamentals. The current price: kr 180.88.
What is the quality score of NONG?
Sparebank 1 Nord-Norge has a Quality Score of 59/100. 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 Sparebank 1 Nord-Norge (NONG)?
Our model-based price target is the fair value of kr 277.80 (as of Nov 4, 2026) from 6 valuation models. Cautious scenario kr 208.35, optimistic scenario kr 347.25. It is a calculation from audited fundamentals, not an analyst target.
What is the Sparebank 1 Nord-Norge stock forecast for 2026?
Our models put fair value at kr 277.80, about +54% upside versus a price of kr 180.88 (undervalued). Cautious scenario kr 208.35, optimistic scenario kr 347.25. The calculation is refreshed regularly with new filings.
What is the revenue of Sparebank 1 Nord-Norge (NONG)?
Sparebank 1 Nord-Norge reported trailing-twelve-month revenue of about 6.1B NOK (latest available figure, as of Nov 4, 2026).
Does Sparebank 1 Nord-Norge pay a dividend?
Sparebank 1 Nord-Norge currently shows a dividend yield of 4.70% relative to its recent price (as of Nov 4, 2026).
How much is the dividend of Sparebank 1 Nord-Norge (NONG) and when is the ex-dividend date?
Sparebank 1 Nord-Norge pays a dividend of kr 8.50 per share a year, a dividend yield of 4.7%. The last ex-dividend date was Mar 27, 2026. A dividend has been paid every year since at least 1995. The payout ratio is 60.9% of earnings. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What is the intrinsic value of Sparebank 1 Nord-Norge (NONG)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Sparebank 1 Nord-Norge it is kr 277.80 per share (as of Nov 4, 2026), against a price of kr 180.88. It is the blended result of 6 valuation models in 4 families (Dividend Discount, Multiples, Asset-Based, Economic Profit).
Is Sparebank 1 Nord-Norge stock overvalued or undervalued in 2026?
As of Nov 4, 2026, NONG trades below its calculated fair value: price kr 180.88, fair value kr 277.80, a gap of about +54% (undervalued). 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 NONG?
No. The price is what the market pays today (kr 180.88); the fair value is what the company's own numbers justify (kr 277.80). For Sparebank 1 Nord-Norge the two are kr 96.92 per share apart. That gap is exactly why we show both numbers side by side.
How much is Sparebank 1 Nord-Norge worth?
The market values Sparebank 1 Nord-Norge at about 18.2B NOK (market capitalisation, as of Nov 4, 2026). Per share that is kr 180.88; our models calculate a fair value of kr 277.80 per share.
What do the bullish and bearish scenarios say about NONG?
Our models span a range for Sparebank 1 Nord-Norge: cautious scenario kr 208.35, base kr 277.80, optimistic kr 347.25 per share (as of Nov 4, 2026, price kr 180.88). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of NONG?
Sparebank 1 Nord-Norge trades at a price-to-earnings ratio of 13.0 (as of Nov 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 277.80 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 4.2. Other multiples: P/B 0.9, P/S 3.0, EV/EBITDA 12.0.
How solid is the balance sheet of Sparebank 1 Nord-Norge (NONG)?
Balance-sheet figures for Sparebank 1 Nord-Norge (as of Nov 4, 2026): return on equity 15.3%, debt of 1.16 per unit of equity. They feed the Quality Score of 59/100, which measures business quality independently of the share price.
How far is NONG from its 52-week high?
Sparebank 1 Nord-Norge trades at kr 180.88, about 1% below its 52-week high of kr 182.44 and 40% above the low of kr 129.56 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of kr 277.80 is for.
Which stocks are comparable to Sparebank 1 Nord-Norge?
From the same area (Financial Services) we also value China Merchants Bank Co, DBS Group, UniCredit S.p.A, Mizuho Financial Group, 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 Sparebank 1 Nord-Norge stock attractive at the current price?
The data as of Nov 4, 2026: price kr 180.88, calculated fair value kr 277.80 (+54%), Quality Score 59/100, 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 NONG calculated?
We run Sparebank 1 Nord-Norge through 6 models from 4 families: Dividend Discount, Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of kr 277.80 builds on their evidence-weighted average, 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 13.0% above its aggregate fair value. Sparebank 1 Nord-Norge currently trades 35% below its own fair value, and the market average says nothing about that. 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 Sparebank 1 Nord-Norge (NONG)?
The closing price on Nov 6, 2026 was kr 180.88. Our model-based fair value is kr 277.80, about +54% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Sparebank 1 Nord-Norge right now?
The price is below even our cautious bear case (kr 208.35). The market is more pessimistic than our downside scenario. Solid quality (59/100) at a price below fair value, the discount is the argument here, not the business quality. 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 Sparebank 1 Nord-Norge (NONG) come from?
Earnings per share at Sparebank 1 Nord-Norge grew +3.2 % a year from 2008 to 2019. Broken into its drivers: revenue per share −1.6 %, EBIT margin −8.6 %, tax rate +0.1 %, residual (interest, one-offs) +14.6 %. 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 Sparebank 1 Nord-Norge
How large is the market capitalisation of Sparebank 1 Nord-Norge (NONG)?
The market capitalisation of Sparebank 1 Nord-Norge is 18.2B NOK (≈ $1.9B). 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 Sparebank 1 Nord-Norge (NONG)?
The price-to-sales ratio of Sparebank 1 Nord-Norge is 7.50 (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 Sparebank 1 Nord-Norge (NONG)?
Earnings per share at Sparebank 1 Nord-Norge are kr 13.96 (price ÷ EPS = P/E 13.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Sparebank 1 Nord-Norge (NONG)?
The dividend yield of Sparebank 1 Nord-Norge is 4.7% (payout 60.9%). 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 Sparebank 1 Nord-Norge (NONG)?
The net margin of Sparebank 1 Nord-Norge is 57.9% (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 Sparebank 1 Nord-Norge (NONG)?
The return on equity (ROE) of Sparebank 1 Nord-Norge is 15.3% (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 Sparebank 1 Nord-Norge (NONG)?
On an EBIT basis the return on assets of Sparebank 1 Nord-Norge is 1.8% (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 Sparebank 1 Nord-Norge (NONG)?
The operating margin of Sparebank 1 Nord-Norge is 66.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Sparebank 1 Nord-Norge (NONG)?
Revenue at Sparebank 1 Nord-Norge is growing −6.5% versus a year earlier (3y avg +15.3%). 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 Sparebank 1 Nord-Norge (NONG)?
Earnings per share at Sparebank 1 Nord-Norge are growing −10.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Sparebank 1 Nord-Norge (NONG) generate?
The free cash flow of Sparebank 1 Nord-Norge is 2.1B NOK (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 Sparebank 1 Nord-Norge (NONG) carry?
The net debt of Sparebank 1 Nord-Norge is 22.8B NOK (fiscal year 2025, ≈ 11.1 yrs of FCF). 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 Sparebank 1 Nord-Norge in the live analysis
One click puts Sparebank 1 Nord-Norge on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 27,000+ stock screener.
Broad data
Nov 4, 2026