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

As of Nov 6, 2026: fair value (intrinsic value) of SJF Bank A/S stock DKK 335, price DKK 510, that is 34.4% below the price, quality 47 out of 100. Rating: overvalued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.

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Financial Services DK · ISIN DK0060670776

SB SJF Bank A/S logo Some data Nov 8, 2026

SJF Bank A/S

SJF · CO
Expensive, weak quality

Our calculation puts a fair price 34% below what the stock costs today.

Highly profitable · 34.5% net margin (TTM)
2.2% dividend yield · Low payout
Quality 47/100
Expensive Growth (revenue 3y +11.9 %/yr in DKK)
Wide moat 70/100 · thin data
Some data
Fair value kr 334.68 · Overvalued (−34.4%)
Trails peers (4/11)
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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 529.00 kr 112.86 Fair Value kr 334.68 Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.

How to read this chart

60‑month range kr 112.86 – kr 529.00 · fair‑value band kr 292.19 – kr 445.49 · the kr 510.00 price screens above the kr 334.68 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.

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Company profile

SJF Bank A/S provides various banking products and services in Denmark.

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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 510.00, while our model-based Fair Value estimate is kr 334.68, 34% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of kr 468.46 per share, and 0 of the 6 models we run sit above the kr 510.00 price.

Bear case: the Dividend Discount group reads lowest at kr 176.64, and 6 of the 6 models stay below the price. Data coverage for this calculation is medium.

Scenario range: kr 292.19 (bear) to kr 445.49 (bull), the price of kr 510.00 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 47/100 (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 8.2B DKK (≈ $1.2B) Small · P/E ratio 14.7 · P/S ratio 4.62 · EPS (TTM) kr 34.70 · Dividend yield 2.2% · Net margin 34.5% · Return on equity 12.1% · Return on assets 1.8%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 70 out of 100 (low confidence).

What moves the price

The share trades about 4% below its 52-week high and 70% 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 −34%, SJF screens richer than that median.

Fair Value models

Bear kr 292.19 Fair Value kr 334.68 Bull kr 445.49
Price kr 510.00 · Downside -34.4%
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 20.26 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.
Best data coverage
Residual Income kr 292.19 kr 334.68 kr 445.49 73
Gordon GGM kr 98.84 kr 195.03 kr 292.34 64
DDM Multi-Stage kr 98.84 kr 158.24 kr 206.12 64
All 6 models by family
Dividend Discount
Gordon GGM kr 98.84 kr 195.03 kr 292.34 64
DDM Multi-Stage kr 98.84 kr 158.24 kr 206.12 64
Multiples
P/E Multiple kr 371.82 kr 495.76 kr 619.70 63
P/B Multiple kr 330.86 kr 441.15 kr 551.43 55
Asset-Based
NCAV (Graham) kr 157.55 kr 211.12 kr 315.11 51
Economic Profit
Residual Income kr 292.19 kr 334.68 kr 445.49 73

Open the full fair value analysis →

Quality Score breakdown

Overall quality 47/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 44
How much profit the company makes from its sales and capital
Quality Growth 40
Are margins and returns getting better?
Cashflow 0
Do the profits arrive as real cash?
Financial strength 49
Debt, balance sheet and risk of trouble
Investment 44
Does it invest with discipline instead of growing at any price?
Low Volatility 89
How calm the share price moves, does not count
Price momentum 84
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 92
Distance to the 52-week high, does not count
New shares 92
Buys back shares or issues new ones?

Open the full quality analysis →

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.
+13.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+11.6%
Dividend (yield on the price)2.2%

SJF screens overvalued: fair value 34% below the price. Compare with China Merchants Bank Co →

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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 · 998 stocks

Beats the industry median on 4/11 measures
Overall it trails its industry peers.
Valuation
Quality Score 47 · Bottom 25%
Fair Value upside −34.4% · Bottom 25%
Profitability
Return on equity (12 months) 12.1% · Above median
Return on assets 1.7% · Top 25%
Net margin (12 months) 34.5% · Above median
Operating margin (12 months) 42.7% · Above median
Growth and dividend
Revenue growth (quarter YoY) 7.2% · Below median
Dividend yield (12 months) 2.2% · Below median

Valuation Multiplesvs Banks - Regional median · lower = cheaper

P/E (12 months) 14.7× · Priciest 25%
P/B 1.60× · Priciest 25%
P/S (12 months) 4.62× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 8
FUTURE (revenue growth)36 · sector 47
PAST (return on equity)49 · sector 43
HEALTH (low debt)–
DIVIDEND (yield)43 · sector 53

VALUE 0: the price sits above our fair-value range.

HEALTH: for banks, insurers and similar financial firms borrowed money is part of the business, so we do not rate debt here.

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 Compare
Postal Savings Bank of China Co 601658 ¥5.53 ¥7.59 +37% vs SJF
China Merchants Bank Co 600036 ¥42.88 ¥52.73 +23% vs SJF
BNP Paribas SA BNP €91.93 €106.01 +15% vs SJF
Intesa Sanpaolo S.p.A ISP €6.18 €4.49 −27% vs SJF
State Bank of India SBIN ₹1,019 ₹736.65 −28% vs SJF
UniCredit S.p.A UCG €76.80 €50.44 −34% vs SJF
Mizuho Financial Group MFG $9.40 $5.90 −37% vs SJF
DBS Group D05 69.72 SGD 40.39 SGD −42% vs SJF
HDFC Bank Limited HDFCBANK ₹788.25 ₹406.39 −48% vs SJF
ICICI Bank Limited ICICIBANK ₹1,571 ₹615.63 −61% vs SJF

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SJF Bank A/S: fair value per Fair Value Calculator

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 Nov 8, 2026, our model estimates a fair value of kr 334.68 versus a price of kr 510.00, about 34% lower (overvalued).
What is the fair value of SJF?
Our model-based fair value for SJF Bank A/S is kr 334.68 (as of Nov 8, 2026), built from audited fundamentals. The current price: kr 510.00.
What is the quality score of SJF?
SJF Bank A/S has a Quality Score of 47/100. 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 334.68 (as of Nov 8, 2026) from 6 valuation models. Cautious scenario kr 292.19, optimistic scenario kr 445.49. 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 334.68, about 34% lower versus a price of kr 510.00 (overvalued). Cautious scenario kr 292.19, optimistic scenario kr 445.49. 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 Nov 8, 2026).
Does SJF Bank A/S pay a dividend?
SJF Bank A/S currently shows a dividend yield of 2.16% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of SJF Bank A/S (SJF) and when is the ex-dividend date?
SJF Bank A/S pays a dividend of kr 11.00 per share a year, a dividend yield of 2.2%. The last ex-dividend date was Mar 6, 2026. The payout ratio is 31.7% of earnings. Our assessment: Low payout. A low payout ratio: the dividend takes at most 60 % of earnings. Whether free cash flow covers it as well, we cannot see for this company.
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 334.68 per share (as of Nov 8, 2026), against a price of kr 510.00. It is the blended result of 6 valuation models in 4 families (Dividend Discount, Multiples, Asset-Based, Economic Profit).
Is SJF Bank A/S stock overvalued or undervalued in 2026?
As of Nov 8, 2026, SJF trades above its calculated fair value: price kr 510.00, fair value kr 334.68, a gap of about −34% (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 510.00); the fair value is what the company's own numbers justify (kr 334.68). For SJF Bank A/S the two are kr 175.32 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 8.2B DKK (market capitalisation, as of Nov 8, 2026). Per share that is kr 510.00; our models calculate a fair value of kr 334.68 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 292.19, base kr 334.68, optimistic kr 445.49 per share (as of Nov 8, 2026, price kr 510.00). 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 14.7 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 334.68 is built from several models across several years. Other multiples: P/B 1.6, P/S 4.6.
How solid is the balance sheet of SJF Bank A/S (SJF)?
Balance-sheet figures for SJF Bank A/S (as of Nov 8, 2026): return on equity 12.1%. They feed the Quality Score of 47/100, 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 510.00, about 4% below its 52-week high of kr 529.00 and 70% above the low of kr 299.50 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of kr 334.68 is for.
Which stocks are comparable to SJF Bank A/S?
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 SJF Bank A/S stock attractive at the current price?
The data as of Nov 8, 2026: price kr 510.00, calculated fair value kr 334.68 (−34%), Quality Score 47/100, 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 4 families: Dividend Discount, Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of kr 334.68 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. 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 Nov 6, 2026 was kr 510.00. Our model-based fair value is kr 334.68, about 34% lower (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?
The price sits above even our optimistic bull case (kr 445.49). The favourable scenario is already priced in. Weak quality (47/100) 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 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 8.2B 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 4.62 (last twelve months). 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 34.70 (price ÷ EPS = P/E 14.7). 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 2.2% (payout 31.7%). 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 34.5% (last twelve months). 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 12.1% (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 1.8% (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 42.7% (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 +7.2% 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 +2.5% 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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