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Romerike Sparebank (ROMER) Fair Value & Analysis

Financial Services · NO · Market cap 429M NOK

RS Romerike Sparebank ROMER · OL
Pricekr 157.98
Fair Valuekr 302.20
Upside+91.3%
Quality42/100
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Expensive Growth
Highly profitable · 44.4% net margin
High debt · negative free cash flow
6.78% dividend yield
Ranks above peers (8/12)
Wide moat 65/100
Evidence: Medium Range kr 226.65 – kr 377.75 Share as image

Fair value as of: Jul 18, 2026

From 6 valuation models · updated 23 days ago

Fair value updated Jul 18, 2026, revised from kr 319.92 to kr 302.20 (−5.5%) since Jun 26, 2026. Share price +4.3% over the past month.

Below-average quality, screening 91% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (42/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (kr 226.65). The market is more pessimistic than our downside scenario.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
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Price vs Fair Value (5 years)

kr 161.30 kr 81.36 Fair Value kr 302.20 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

60‑month range kr 81.36 – kr 161.30 · fair‑value band kr 226.65 – kr 377.75 · the kr 157.98 price screens below the kr 302.20 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.

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Analysis

Romerike Sparebank (ROMER) currently trades at kr 157.98, while our model-based Fair Value estimate is kr 302.20, implying the stock looks roughly 91.3% undervalued today. The Quality Score stands at 42/100 (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: medium), always confirm before acting.

Over the trailing twelve months, Romerike Sparebank generated revenue of 488M NOK at a net margin of 44.4%. Revenue declined 6.8% year over year. It earns a return on equity of 9.4%. Net debt stands at 6.0B NOK. Fundamentals as of Jul 18, 2026

Our scenario range runs from kr 226.65 (bear case) to kr 377.75 (bull case); at kr 157.98, the current price sits below 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 6% below its 52-week high and 25% 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 91%, ROMER screens cheaper 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 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
Highest evidence
Residual Income kr 704.48 kr 749.86 kr 834.30 76
Gordon GGM kr 81.58 kr 147.00 kr 202.36 70
P/E Multiple kr 777.41 kr 1,037 kr 1,296 63
All 6 models by family
Dividend Discount
Gordon GGM kr 81.58 kr 147.00 kr 202.36 70
DDM Multi-Stage kr 81.58 kr 134.28 kr 157.03 61
Multiples
P/E Multiple kr 777.41 kr 1,037 kr 1,296 63
P/B Multiple kr 922.20 kr 1,230 kr 1,537 55
Asset-Based
NCAV (Graham) kr 439.14 kr 588.45 kr 878.28 50
Economic Profit
Residual Income kr 704.48 kr 749.86 kr 834.30 76

Widest divergence: Multiples (kr 1,037) versus Dividend Discount (kr 134.28). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 488M NOK
Revenue growth (YoY) -6.8%
Net margin 44.4%
Return on equity 9.4%
Free cash flow −440M NOK FY2025
P/E ratio 2.0
More key figures
Operating margin 44.7%
EPS (TTM) kr 76.29
Dividend yield 6.8%
EPS growth (YoY) -21.7%
Net debt 6.0B NOK FY2025

Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 42/100

Of which business quality 34 · Market factors (momentum, volatility) 69

Profitability 42
Margins and returns on capital today
Quality Growth 45
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 1
Balance sheet, leverage, solvency risk
Investment 71
Disciplined investing over empire-building
Low Volatility 94
Calm price path (market factor)
Momentum 55
Price trend over the last 3–12 months (market factor)
52W Momentum 66
Distance to the 52-week high (market factor)
Net Issuance 82
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

Romerike Sparebank provides various banking products and services. The company provides daily banking; mortgage for young people; proof of financing; refinancing of mortgage; green and moving mortgage; refinancing consumer debt; car, framework, construction, green rehabilitation, cottage, fixed-rate, and consumer loans; loans for motor cycles, motor homes, …

Full company description

Romerike Sparebank provides various banking products and services. The company provides daily banking; mortgage for young people; proof of financing; refinancing of mortgage; green and moving mortgage; refinancing consumer debt; car, framework, construction, green rehabilitation, cottage, fixed-rate, and consumer loans; loans for motor cycles, motor homes, boats, and ATVs; and bank, BSU, mutual fund, retirement savings, micro saving, and fund savings for children. It also offers insurance for car, content, dog, travel, child, valuables, home, and electric scooters. In addition, the company provides savings and retirement products. The company was formerly known as Lillestrøm Sparebank and changed its name to Romerike Sparebank in September 2021. Romerike Sparebank was founded in 1887 and is headquartered in Lillestrøm, Norway.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Romerike Sparebank reported revenue of kr 494M in FY2025 versus kr 228M in FY2021, a compound +21.3%/yr. Reported net income was kr 226M in FY2025, compounding +20.3%/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)
494M NOK
Latest YoY
+5.3%
Avg. growth/yr (3Y) 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.
+73.4%
Avg. growth/yr (5Y) 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.
+19.0%
Avg. growth/yr (7Y) 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.
+16.5%
Revenue +21.3%/yr
FY21 kr 228M
FY22 kr 94.8M
FY23 kr 422M
FY24 kr 469M
FY25 kr 494M
Net income +20.3%/yr
FY21 kr 108M
FY22 kr 134M
FY23 kr 158M
FY24 kr 192M
FY25 kr 226M

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Cite: Fair Value Calculator (2026). "Romerike Sparebank Fair Value". https://www.fairvalue-calculator.com/stock/ROMER

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 42 · Bottom 25%
Fair Value upside +91% · Top 25%
Return on equity (TTM) 9% · Below median
Return on assets 1% · Above median
Net margin (TTM) 44% · Top 25%
Operating margin (TTM) 45% · Above median
Revenue growth -7% · Bottom 25%
Dividend yield (TTM) 6.8% · Top 25%
Debt / equity 2.44× · Higher than 75% of peers

Valuation Multiples vs Banks - Regional median · lower = cheaper

P/E (TTM) 2.0× · Cheaper than 75% of peers
P/B 0.17× · Cheaper than 75% of peers
P/S (TTM) 0.88× · 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 100 · sector 39
FUTURE 0 · sector 44
PAST 38 · sector 41
HEALTH 0 · sector 85
DIVIDEND 100 · 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 18, 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 Romerike Sparebank (ROMER) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of kr 302.20 versus a price of kr 157.98, about +91% (undervalued).
What is the fair value of ROMER?
Our model-based fair value for Romerike Sparebank is kr 302.20 (as of Jul 18, 2026), built from audited fundamentals. The current price is kr 157.98.
What is the quality score of ROMER?
Romerike Sparebank has a Quality Score of 42/100. 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 Romerike Sparebank (ROMER)?
Romerike Sparebank reported trailing-twelve-month revenue of about 488M NOK (latest available figure, as of Jul 18, 2026).
What is the net profit margin of ROMER?
The net profit margin of Romerike Sparebank is about 44.4%, meaning it keeps roughly 44.4% of revenue as net income. Based on the latest reported figures.
Does Romerike Sparebank pay a dividend?
Romerike Sparebank currently shows a dividend yield of about 6.56% relative to its recent price (as of Jul 18, 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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