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SJF Bank A/S (SJF) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of SJF Bank A/S DKK 363, price DKK 482, upside -24.6%, quality 49 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Financial Services · DK · ISIN DK0060670776

SB Some data Sep 23, 2026

SJF Bank A/S

SJF · CO

Weak valuationQuality is weak on top of the rich price.

!Fair value kr 363.49 · Overvalued (−25%)
!Quality 49/100
!Expensive Growth (revenue 3y +11.9 %/yr)
✓Highly profitable · 34.8% net margin (TTM)
!negative free cash flow
·2.28% dividend yield
!Trails peers (4/11)
✓Wide moat 70/100
!Evidence only medium, so the estimate is less certain
!Weak on valuation: 1 out of 100
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

kr 483.50 kr 112.86 Fair Value kr 363.49 Jun 2021 Sep 2026

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 112.86 – kr 483.50 · fair‑value band kr 300.48 – kr 581.13 · the kr 482.00 price screens above the kr 363.49 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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Company profile

SJF Bank A/S provides various banking products and services in Denmark. It provides savings, wealth, and other accounts; housing, car, and agriculture loans; insurance and pension products; investment services; leasing and consulting services; and private banking services, as well as online and mobile banking services.

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SJF Bank A/S provides various banking products and services in Denmark. It provides savings, wealth, and other accounts; housing, car, and agriculture loans; insurance and pension products; investment services; leasing and consulting services; and private banking services, as well as online and mobile banking services. The company was formerly known as Sparekassen Sjælland-Fyn A/S and changed its name to SJF Bank A/S in May 2025. The company was founded in 1825 and is based in Holbæk, Denmark.

Stock analysis

SJF Bank A/S (SJF) currently trades at kr 482.00, while our model-based Fair Value estimate is kr 363.49, implying the stock looks roughly 32.6% overvalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of kr 445.69 per share, and 1 of the 6 models we run sit above the kr 482.00 price.

Bear case: the Dividend Discount group reads lowest at kr 159.40, and 5 of the 6 models stay below the price. Evidence for this calculation is medium.

Scenario range: kr 300.48 (bear) to kr 581.13 (bull), the price of kr 482.00 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 49/100 (below-average quality), in the Financial Services sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

SJF Bank A/S reported revenue of 1.8B DKK in FY2025 versus 1.3B DKK in FY2022, a compound +11.9%/yr. Reported net income was 612M DKK in FY2025, compounding +18.0%/yr from FY2022.

Key figures

Market cap 7.8B DKK (≈ $1.2B) · P/E ratio 14.0 · P/S ratio 4.78 · EPS (TTM) kr 34.49 · Dividend yield 2.3% · Net margin 34.2% · Return on equity 12.5% · Return on assets 1.9%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 51 out of 100 (low confidence).

What moves the price

The share trades at its 52-week high and 61% 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 −25%, SJF screens cheaper than that median.

Fair Value models

Bear kr 300.48 Fair Value kr 363.49 Bull kr 581.13
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 17.18 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.
Highest evidence
Residual Income kr 289.47 kr 335.94 kr 623.08 70
Gordon GGM kr 99.16 kr 197.58 kr 299.19 64
DDM Multi-Stage kr 99.16 kr 159.40 kr 208.56 64
All 6 models by family
Dividend Discount
Gordon GGM kr 99.16 kr 197.58 kr 299.19 64
DDM Multi-Stage kr 99.16 kr 159.40 kr 208.56 64
Multiples
P/E Multiple kr 369.00 kr 492.00 kr 615.00 63
P/B Multiple kr 334.27 kr 445.69 kr 557.12 55
Asset-Based
NCAV (Graham) kr 159.18 kr 213.30 kr 318.35 51
Economic Profit
Residual Income kr 289.47 kr 335.94 kr 623.08 70

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Quality Score breakdown

Overall quality 49/100

Of which business quality 43 · Market factors (momentum, volatility) 89

Profitability 44
Margins and returns on capital today
Quality Growth 40
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 49
Balance sheet, leverage, solvency risk
Investment 44
Disciplined investing over empire-building
Low Volatility 91
Calm price path (market factor)
Momentum 88
Price trend over the last 3–12 months (market factor)
52W Momentum 89
Distance to the 52-week high (market factor)
Net Issuance 100
Share count: buybacks or dilution?

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Revenue & earnings trend

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
+2.1%
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.
+11.9%
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.
+13.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+11.6%
Dividend (yield on the price)2.3%

SJF screens 33% overvalued. Compare with DBS Group →

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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 4/11 measures
Overall it trails its industry peers.
Valuation
Quality Score 49 · Below median
Fair Value upside −25% · Below median
Profitability
Return on equity (TTM) 12% · Above median
Return on assets 2% · Top 25%
Net margin (TTM) 35% · Above median
Operating margin (TTM) 51% · Top 25%
Growth and dividend
Revenue growth −1% · Bottom 25%
Dividend yield (TTM) 2.3% · Below median

Valuation Multiplesvs Banks - Regional median · lower = cheaper

P/E (TTM) 14.0× · Pricier than median
P/B 1.53× · Priciest 25%
P/S (TTM) 4.44× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)1 · sector 12
FUTURE (revenue growth)0 · sector 45
PAST (return on equity)50 · sector 41
HEALTH (low debt)0 · sector 85
DIVIDEND (yield)46 · sector 53

Context: sector, industry, market

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

Similar stocks

10 more Banks - Regional stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
DBS Group D05 77.80 SGD 40.48 SGD −48%
China Merchants Bank Co 3968 HK$51.65 HK$64.29 +24%
Intesa Sanpaolo S.p.A ISP €6.73 €4.04 −40%
HDFC Bank Limited HDFCBANK ₹738.60 ₹418.52 −43%
BNP Paribas SA BNP €101.30 €105.99 +5%
UniCredit S.p.A UCG €83.28 €77.62 −7%
Mizuho Financial Group MFG $10.87 $6.75 −38%
ICICI Bank Limited ICICIBANK ₹1,340 ₹636.31 −53%
The PNC Financial Services Group PNC $227.96 $159.52 −30%
Oversea-Chinese Banking Corporation O39 32.14 SGD 19.80 SGD −38%

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SJF Bank A/S · Fair Value
kr 363.49 −33%Fair Value
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Cite: Fair Value Calculator (2026). "SJF Bank A/S Fair Value". https://www.fairvalue-calculator.com/stock/SJF

Frequently asked questions

Is SJF Bank A/S (SJF) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of kr 363.49 versus a price of kr 482.00, about −25% upside (overvalued).
What is the fair value of SJF?
Our model-based fair value for SJF Bank A/S is kr 363.49 (as of Sep 23, 2026), built from audited fundamentals. The current price: kr 482.00.
What is the quality score of SJF?
SJF Bank A/S has a Quality Score of 49/100. 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 SJF Bank A/S (SJF)?
Our model-based price target is the fair value of kr 363.49 (as of Sep 23, 2026) from 6 valuation models. Cautious scenario kr 300.48, optimistic scenario kr 581.13. It is a calculation from audited fundamentals, not an analyst target.
What is the SJF Bank A/S stock forecast for 2026?
Our models put fair value at kr 363.49, about −25% upside versus a price of kr 482.00 (overvalued). Cautious scenario kr 300.48, optimistic scenario kr 581.13. The calculation is refreshed regularly with new filings.
What is the revenue of SJF Bank A/S (SJF)?
SJF Bank A/S reported trailing-twelve-month revenue of about 1.8B DKK (latest available figure, as of Sep 23, 2026).
Does SJF Bank A/S pay a dividend?
SJF Bank A/S currently shows a dividend yield of about 2.28% relative to its recent price (as of Sep 23, 2026).
What is the intrinsic value of SJF Bank A/S (SJF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For SJF Bank A/S it is kr 363.49 per share (as of Sep 23, 2026), against a price of kr 482.00. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is SJF Bank A/S stock overvalued or undervalued in 2026?
As of Sep 23, 2026, SJF trades above its calculated fair value: price kr 482.00, fair value kr 363.49, a gap of about −25% (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 SJF?
No. The price is what the market pays today (kr 482.00); the fair value is what the company's own numbers justify (kr 363.49). For SJF Bank A/S the two are kr 118.51 per share apart. That gap is exactly why we show both numbers side by side.
How much is SJF Bank A/S worth?
The market values SJF Bank A/S at about 7.8B DKK (market capitalisation, as of Sep 23, 2026). Per share that is kr 482.00; our models calculate a fair value of kr 363.49 per share.
What do the bullish and bearish scenarios say about SJF?
Our models span a range for SJF Bank A/S: cautious scenario kr 300.48, base kr 363.49, optimistic kr 581.13 per share (as of Sep 23, 2026, price kr 482.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SJF?
SJF Bank A/S trades at a price-to-earnings ratio of 14.0 (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 363.49 is built from several models across several years. Other multiples: P/B 1.5, P/S 4.4.
How solid is the balance sheet of SJF Bank A/S (SJF)?
Balance-sheet figures for SJF Bank A/S (as of Sep 23, 2026): return on equity 12.5%. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is SJF from its 52-week high?
SJF Bank A/S trades at kr 482.00, at its 52-week high of kr 483.50 and 61% above the low of kr 299.50 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of kr 363.49 is for.
Which stocks are comparable to SJF Bank A/S?
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 SJF Bank A/S stock attractive at the current price?
The data as of Sep 23, 2026: price kr 482.00, calculated fair value kr 363.49 (−25%), Quality Score 49/100, 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 SJF calculated?
We run SJF Bank A/S 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 363.49, 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. SJF Bank A/S 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 SJF Bank A/S (SJF)?
The closing price on Sep 23, 2026 was kr 482.00. Our model-based fair value is kr 363.49, about −25% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with SJF Bank A/S right now?
Solid but not exceptional quality (49/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (kr 300.48 to kr 581.13) 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.

Key figures of SJF Bank A/S

How large is the market capitalisation of SJF Bank A/S (SJF)?
The market capitalisation of SJF Bank A/S is 7.8B DKK (≈ $1.2B). 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 SJF Bank A/S (SJF)?
The price-to-sales ratio of SJF Bank A/S is 4.78 (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 SJF Bank A/S (SJF)?
Earnings per share at SJF Bank A/S are kr 34.49 (price ÷ EPS = P/E 14.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of SJF Bank A/S (SJF)?
The dividend yield of SJF Bank A/S is 2.3% (payout 31.9%). 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 SJF Bank A/S (SJF)?
The net margin of SJF Bank A/S is 34.2% (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 SJF Bank A/S (SJF)?
The return on equity (ROE) of SJF Bank A/S is 12.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the return on assets of SJF Bank A/S (SJF)?
The return on assets (ROA) of SJF Bank A/S is 1.9% (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 SJF Bank A/S (SJF)?
The operating margin of SJF Bank A/S is 50.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at SJF Bank A/S (SJF)?
Revenue at SJF Bank A/S is growing −0.8% versus a year earlier (3y avg +11.9%). 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 SJF Bank A/S (SJF)?
Earnings per share at SJF Bank A/S are growing +4.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does SJF Bank A/S (SJF) generate?
The free cash flow of SJF Bank A/S is −500M 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 debt does SJF Bank A/S (SJF) carry?
The net debt of SJF Bank A/S is 374M DKK (fiscal year 2023). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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