Skjern Bank A/S (SKJE) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Skjern Bank A/S DKK 317, price DKK 422, upside -24.7%, quality 55 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range kr 81.87 – kr 445.00 · fair‑value band kr 238.06 – kr 396.77 · the kr 421.50 price screens above the kr 317.42 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Skjern Bank A/S provides various banking products and services to private and corporate customers in Denmark.
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Skjern Bank A/S provides various banking products and services to private and corporate customers in Denmark. The company offers savings, currency, share savings, and retirement savings accounts; term deposits; mortgage/home, cooperative housing, home construction/renovation/extension, business, and car loans; loans for electric cars, energy optimization, and renewable energy; debit and credit cards; annuity, self, sports, installment, and termination pension; online and mobile banking; mobile payment; and death, health, critical illness, accident, family contents, home, car, travel, group, and salary protection insurance products. It also provides payroll and personnel solutions; eInvoice; international debt collection; letters of credit; foreign payments and guarantees; investment funds; and wealth advice and asset management services. In addition, the company trades in stocks, bonds, and investment funds; and invests in securities. Skjern Bank A/S was founded in 1906 and is headquartered in Skjern, Denmark.
Stock analysis
Skjern Bank A/S (SKJE) currently trades at kr 421.50, while our model-based Fair Value estimate is kr 317.42, implying the stock looks roughly 32.8% overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of kr 294.65 per share, and 0 of the 4 models we run sit above the kr 421.50 price.
Bear case: the Asset-Based group reads lowest at kr 141.01, and 4 of the 4 models stay below the price. Evidence for this calculation is medium.
Scenario range: kr 238.06 (bear) to kr 396.77 (bull), the price of kr 421.50 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 55/100 (solid quality), in the Financial Services sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Skjern Bank A/S reported revenue of 739M DKK in FY2025 versus 423M DKK in FY2021, a compound +15.0%/yr. Reported net income was 246M DKK in FY2025, compounding +10.8%/yr from FY2021.
Key figures
Market cap 4.0B DKK (≈ $605M) · P/E ratio 15.5 · P/S ratio 5.18 · EPS (TTM) kr 27.14 · Dividend yield 0.8% · Net margin 33.3% · Return on equity 13.7% · Return on assets (EBIT) 2.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 49 out of 100 (low confidence).
What moves the price
The share trades about 5% below its 52-week high and 86% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −37% fair-value upside, at −25%, SKJE screens cheaper than that median.
Fair Value models
Bear kr 238.06Fair Value kr 317.42Bull kr 396.77
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 17.36 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.
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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−5.1%
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.
+17.7%
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.
+13.3%
Start year 2020 (pandemic). Over 10 years: +8.6% 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.
+7.1%
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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.
+13.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+13.0%
Dividend (yield on the price)0.8%
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.13% vs 15%, steady
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.36% → 47%
Start year 2020 (pandemic)
Growth Forecast
Little optimism in the price
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
less than -40 %
Yearly growth needed for the next five years to justify today's price.
Price, fair value, quality and upside side by side.
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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 · 1076 stocks
Beats the industry median on 6/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score63 · Top 25%
Fair Value upside−25% · Below median
Profitability
Return on equity (TTM)14% · Top 25%
Return on assets2% · Top 25%
Net margin (TTM)38% · Top 25%
Operating margin (TTM)50% · Top 25%
Growth and dividend
Revenue growth5% · Below median
Dividend yield (TTM)0.8% · Bottom 25%
Balance sheet
Debt / equity0.05× · Lowest 25%
Valuation Multiplesvs Banks - Regional median · lower = cheaper
P/E (TTM)15.5× · Pricier than median
P/B2.00× · Priciest 25%
P/S (TTM)5.78× · Priciest 25%
P/FCF19.7× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 11
FUTURE (revenue growth)26· sector 45
PAST (return on equity)55· sector 41
HEALTH (low debt)98· sector 85
DIVIDEND (yield)17· sector 53
VALUE 0: the price sits above our fair-value range.
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.
Cite: Fair Value Calculator (2026). "Skjern Bank A/S Fair Value". https://www.fairvalue-calculator.com/stock/SKJE
Frequently asked questions
Is Skjern Bank A/S (SKJE) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of kr 317.42 versus a price of kr 421.50, about −25% upside (overvalued).
What is the fair value of SKJE?
Our model-based fair value for Skjern Bank A/S is kr 317.42 (as of Sep 24, 2026), built from audited fundamentals. The current price: kr 421.50.
What is the quality score of SKJE?
Skjern Bank A/S has a Quality Score of 55/100. 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 Skjern Bank A/S (SKJE)?
Our model-based price target is the fair value of kr 317.42 (as of Sep 24, 2026) from 4 valuation models. Cautious scenario kr 238.06, optimistic scenario kr 396.77. It is a calculation from audited fundamentals, not an analyst target.
What is the Skjern Bank A/S stock forecast for 2026?
Our models put fair value at kr 317.42, about −25% upside versus a price of kr 421.50 (overvalued). Cautious scenario kr 238.06, optimistic scenario kr 396.77. The calculation is refreshed regularly with new filings.
What is the revenue of Skjern Bank A/S (SKJE)?
Skjern Bank A/S reported trailing-twelve-month revenue of about 687M DKK (latest available figure, as of Sep 24, 2026).
Does Skjern Bank A/S pay a dividend?
Skjern Bank A/S currently shows a dividend yield of about 0.83% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Skjern Bank A/S (SKJE)?
For today's price to be fair in a discounted-cash-flow model, Skjern Bank A/S would have to grow free cash flow by less than minus 40 % per year for five years (discount rate 9.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +13.3 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of SKJE use?
Our models discount Skjern Bank A/S at 9.6 %: a base by market capitalisation (small), damped by beta 0.22, country premium for Denmark. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Skjern Bank A/S that is less than minus 40 % per year a year over ten years, using the same discount rate (9.6 %) and the same formula as our fair value.
How much growth has Skjern Bank A/S (SKJE) delivered so far?
Over the past 5 years revenue at Skjern Bank A/S grew +13.3 % a year. The price currently implies less than minus 40 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Skjern Bank A/S (SKJE) growing?
The median revenue growth in the sector is +8.4 % a year. That is the yardstick for the growth priced into Skjern Bank A/S (less than minus 40 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Skjern Bank A/S (SKJE)?
The free-cash-flow yield on the price is 0.77 %: that much free cash flow Skjern Bank A/S produces per unit of market value. When it exceeds the discount rate of our models (9.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Skjern Bank A/S (SKJE)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Skjern Bank A/S it is kr 317.42 per share (as of Sep 24, 2026), against a price of kr 421.50. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).
Is Skjern Bank A/S stock overvalued or undervalued in 2026?
As of Sep 24, 2026, SKJE trades above its calculated fair value: price kr 421.50, fair value kr 317.42, 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 SKJE?
No. The price is what the market pays today (kr 421.50); the fair value is what the company's own numbers justify (kr 317.42). For Skjern Bank A/S the two are kr 104.08 per share apart. That gap is exactly why we show both numbers side by side.
How much is Skjern Bank A/S worth?
The market values Skjern Bank A/S at about 4.0B DKK (market capitalisation, as of Sep 24, 2026). Per share that is kr 421.50; our models calculate a fair value of kr 317.42 per share.
What do the bullish and bearish scenarios say about SKJE?
Our models span a range for Skjern Bank A/S: cautious scenario kr 238.06, base kr 317.42, optimistic kr 396.77 per share (as of Sep 24, 2026, price kr 421.50). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SKJE?
Skjern Bank A/S trades at a price-to-earnings ratio of 15.5 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 317.42 is built from several models across several years. Other multiples: P/B 2.0, P/S 5.8.
How solid is the balance sheet of Skjern Bank A/S (SKJE)?
Balance-sheet figures for Skjern Bank A/S (as of Sep 24, 2026): return on equity 13.7%, debt of 0.05 per unit of equity. They feed the Quality Score of 55/100, which measures business quality independently of the share price.
How far is SKJE from its 52-week high?
Skjern Bank A/S trades at kr 421.50, about 5% below its 52-week high of kr 445.00 and 86% above the low of kr 226.25 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of kr 317.42 is for.
Which stocks are comparable to Skjern 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 Skjern Bank A/S stock attractive at the current price?
The data as of Sep 24, 2026: price kr 421.50, calculated fair value kr 317.42 (−25%), Quality Score 55/100, from 4 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 SKJE calculated?
We run Skjern Bank A/S through 4 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 317.42, 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. Skjern 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 Skjern Bank A/S (SKJE)?
The closing price on Sep 24, 2026 was kr 421.50. Our model-based fair value is kr 317.42, about −25% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Skjern Bank A/S right now?
The price sits above even our optimistic bull case (kr 396.77). The favourable scenario is already priced in. Solid but not exceptional quality (55/100) and above fair value, neither a clear bargain nor a standout compounder. 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 Skjern Bank A/S (SKJE) come from?
Earnings per share at Skjern Bank A/S grew +18.6 % a year from 2015 to 2025. Broken into its drivers: revenue per share +10.2 %, EBIT margin +8.5 %, tax rate −0.7 %, residual (interest, one-offs) +0.0 %. 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 Skjern Bank A/S
How large is the market capitalisation of Skjern Bank A/S (SKJE)?
The market capitalisation of Skjern Bank A/S is 4.0B DKK (≈ $605M). 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 Skjern Bank A/S (SKJE)?
The price-to-sales ratio of Skjern Bank A/S is 5.18 (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 Skjern Bank A/S (SKJE)?
Earnings per share at Skjern Bank A/S are kr 27.14 (price ÷ EPS = P/E 15.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Skjern Bank A/S (SKJE)?
The dividend yield of Skjern Bank A/S is 0.8% (payout 12.9%). 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 Skjern Bank A/S (SKJE)?
The net margin of Skjern Bank A/S is 33.3% (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 Skjern Bank A/S (SKJE)?
The return on equity (ROE) of Skjern Bank A/S is 13.7% (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 Skjern Bank A/S (SKJE)?
On an EBIT basis the return on assets of Skjern Bank A/S is 2.3% (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 Skjern Bank A/S (SKJE)?
The operating margin of Skjern Bank A/S is 49.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Skjern Bank A/S (SKJE)?
Revenue at Skjern Bank A/S is growing +5.2% versus a year earlier (3y avg +17.7%). 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 Skjern Bank A/S (SKJE)?
Earnings per share at Skjern Bank A/S are growing +28.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Skjern Bank A/S (SKJE) hold?
Skjern Bank A/S holds more cash than debt, 4.4B DKK net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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