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Skjern Bank A/S (SKJE) Fair Value & Analysis

Financial Services · DK · Market cap 3.3B DKK

SB Skjern Bank A/S SKJE · CO
Pricekr 363.00
Fair Valuekr 339.72
Upside-6.4%
Quality55/100
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Expensive Growth
Highly profitable · 38.3% net margin
Low debt · generates free cash flow
1.03% dividend yield
Mixed vs. peers (6/13)
Wide moat 70/100
Evidence: High Range kr 254.79 – kr 424.65 Share as image

Fair value as of: Jul 12, 2026

From 4 valuation models · updated 29 days ago

Fair value updated Jul 12, 2026, revised from kr 339.05 to kr 339.72 (+0.2%) since Jun 26, 2026. Share price +5.4% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • 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 383.00 kr 76.86 Fair Value kr 339.72 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

60‑month range kr 76.86 – kr 383.00 · fair‑value band kr 254.79 – kr 424.65 · the kr 363.00 price screens above the kr 339.72 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 12, 2026.

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Analysis

Skjern Bank A/S (SKJE) currently trades at kr 363.00, while our model-based Fair Value estimate is kr 339.72, implying the stock looks roughly 6.4% fairly valued today. The Quality Score stands at 55/100 (solid quality), in the Financial Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Skjern Bank A/S generated revenue of 687M DKK at a net margin of 38.3%. Revenue grew 5.2% year over year. It earns a return on equity of 13.7%. The balance sheet holds a net cash position of 4.4B DKK. Fundamentals as of Jul 12, 2026

Our scenario range runs from kr 254.79 (bear case) to kr 424.65 (bull case); at kr 363.00, the current price sits within 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 near its 52-week high and 83% 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 -6%, SKJE screens richer 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
P/E Multiple kr 254.79 kr 339.72 kr 424.65 63
Residual Income kr 193.83 kr 229.11 kr 449.46 61
P/B Multiple kr 220.69 kr 294.25 kr 367.81 55
All 4 models by family
Multiples
P/E Multiple kr 254.79 kr 339.72 kr 424.65 63
P/B Multiple kr 220.69 kr 294.25 kr 367.81 55
Asset-Based
NCAV (Graham) kr 105.09 kr 140.82 kr 210.18 50
Economic Profit
Residual Income kr 193.83 kr 229.11 kr 449.46 61

Widest divergence: Multiples (kr 294.25) versus Asset-Based (kr 140.82). Highest evidence: P/E Multiple (63).

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Key figures & financial health

Revenue (TTM) 687M DKK
Revenue growth (YoY) +5.2%
Net margin 38.3%
Return on equity 13.7%
Free cash flow 30.7M DKK FY2023
P/E ratio 12.9
More key figures
Operating margin 49.9%
EPS (TTM) kr 27.13
Dividend yield 1.0%
EPS growth (YoY) +28.8%
Net cash 4.4B DKK FY2025

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 55/100

Of which business quality 60 · Market factors (momentum, volatility) 85

Profitability 37
Margins and returns on capital today
Quality Growth 46
Are margins and returns improving?
Cashflow 39
Earnings quality: real cash, not paper profit
Fin. Strength 94
Balance sheet, leverage, solvency risk
Investment 58
Disciplined investing over empire-building
Low Volatility 84
Calm price path (market factor)
Momentum 78
Price trend over the last 3–12 months (market factor)
52W Momentum 100
Distance to the 52-week high (market factor)
Net Issuance 90
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

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, …

Full company description

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.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Skjern Bank A/S reported revenue of kr 739M in FY2025 versus kr 423M in FY2021, a compound +15.0%/yr. Reported net income was kr 246M in FY2025, compounding +10.8%/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)
739M DKK
Latest YoY
−5.1%
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.
+17.7%
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.
+13.3%
Avg. growth/yr (25Y) 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.
+7.1%
Revenue +15.0%/yr
FY21 kr 423M
FY22 kr 454M
FY23 kr 702M
FY24 kr 779M
FY25 kr 739M
Net income +10.8%/yr
FY21 kr 163M
FY22 kr 150M
FY23 kr 258M
FY24 kr 274M
FY25 kr 246M
Character of growth · EPS growth decomposed (2015-2025) +18.6 % p.a.
Revenue per share +10.2 pp

of which total revenue +10.1 pp · buybacks/dilution +0.1 pp

EBIT margin +8.5 pp
Tax rate −0.7 pp
Residual (interest, one-offs) +0.7 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Skjern Bank A/S Fair Value". https://www.fairvalue-calculator.com/stock/SKJE

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 63 · Top 25%
Fair Value upside −6% · Below median
Return on equity (TTM) 14% · Top 25%
Return on assets 2% · Top 25%
Net margin (TTM) 38% · Top 25%
Operating margin (TTM) 50% · Top 25%
Revenue growth 5% · Below median
Dividend yield (TTM) 1.0% · Below median
Debt / equity 0.05× · Lower than 75% of peers

Valuation Multiples vs Banks - Regional median · lower = cheaper

P/E (TTM) 12.9× · Pricier than median
P/B 1.67× · Pricier than 75% of peers
P/S (TTM) 4.80× · Pricier than 75% of peers
P/FCF 16.6× · Pricier 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 25 · sector 39
FUTURE 26 · sector 44
PAST 55 · sector 41
HEALTH 98 · sector 85
DIVIDEND 21 · 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 12, 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 Skjern Bank A/S (SKJE) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of kr 339.72 versus a price of kr 363.00, about −6% (fairly valued).
What is the fair value of SKJE?
Our model-based fair value for Skjern Bank A/S is kr 339.72 (as of Jul 12, 2026), built from audited fundamentals. The current price is kr 363.00.
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 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 Jul 12, 2026).
What is the net profit margin of SKJE?
The net profit margin of Skjern Bank A/S is about 38.3%, meaning it keeps roughly 38.3% of revenue as net income. Based on the latest reported figures.
Does Skjern Bank A/S pay a dividend?
Skjern Bank A/S currently shows a dividend yield of about 1.14% relative to its recent price (as of Jul 12, 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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