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Sogn Sparebank (SOGN) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of Sogn Sparebank NOK 614, price NOK 309, upside +98.7%, quality 62 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? Yes
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Financial Services · NO · ISIN NO0006000603

SS Some data Sep 24, 2026

Sogn Sparebank

SOGN · OL

Clearly undervaluedStrong Fair Value upside, but quality is only moderate.

✓Fair value kr 614.00 · Strongly undervalued (+99%)
!Quality 62/100
!Mixed Growth (revenue 5y +3.7 %/yr)
✓Highly profitable · 43.9% net margin (TTM)
✓generates free cash flow
·6.47% dividend yield
✓Ranks above peers (7/10)
✓Wide moat 66/100
!Evidence only medium, so the estimate is less certain
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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 365.00 kr 81.56 Fair Value kr 614.00 Jun 2021 Sep 2026

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 81.56 – kr 365.00 · fair‑value band kr 460.50 – kr 767.50 · the kr 308.95 price screens below the kr 614.00 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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Company profile

Sogn Sparebank provides various banking products and services in Norway. The bank primarily serves small and medium-sized enterprises in Sogn and offers retail banking services nationwide, focusing on growth areas and larger cities, with Sogn as its priority market.

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Sogn Sparebank provides various banking products and services in Norway. The bank primarily serves small and medium-sized enterprises in Sogn and offers retail banking services nationwide, focusing on growth areas and larger cities, with Sogn as its priority market. Its offerings include deposit accounts, lending products, insurance solutions, and securities trading, delivered through both digital platforms and physical branches. The company offers savings and pensions, housing loans, housing loans for young people, fixed-rate loans, proof of financing, moving mortgages, credit lines, refinance the housing loan, cabin loans, refinancing, car loans, loans for motorcycles, campers and atvs, consumer loans, car insurance, travel insurance, home insurance, home contents insurance, child insurance, e-scooter insurance, dog insurance. The company was incorporated in 1846 and is headquartered in Årdalstangen, Norway.

Stock analysis

Sogn Sparebank (SOGN) currently trades at kr 308.95, while our model-based Fair Value estimate is kr 614.00, implying the stock looks roughly 49.7% undervalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of kr 2,324 per share, and 4 of the 4 models we run sit above the kr 308.95 price.

Bear case: the Asset-Based group reads lowest at kr 1,389, and 0 of the 4 models stay below the price. Evidence for this calculation is medium.

Scenario range: kr 460.50 (bear) to kr 767.50 (bull), the price of kr 308.95 sits below 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 62/100 (solid quality), in the Financial Services sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

Sogn Sparebank reported revenue of 257M NOK in FY2025 versus 192M NOK in FY2021, a compound +7.6%/yr. Reported net income was 113M NOK in FY2025, compounding +21.3%/yr from FY2021.

Key figures

Market cap 195M NOK (≈ $20.6M) · P/E ratio 14.2 · P/S ratio 6.24 · EPS (TTM) kr 21.76 · Dividend yield 6.5% · Net margin 44.0% · Return on equity 9.2% · Return on assets (EBIT) 1.2%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).

What moves the price

The share trades about 15% below its 52-week high and 31% 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 99%, SOGN screens cheaper than that median.

Fair Value models

Bear kr 460.50 Fair Value kr 614.00 Bull kr 767.50
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 1.29 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 1,729 kr 1,864 kr 2,207 76
P/E Multiple kr 1,743 kr 2,324 kr 2,905 63
P/B Multiple kr 2,176 kr 2,901 kr 3,627 55
All 4 models by family
Multiples
P/E Multiple kr 1,743 kr 2,324 kr 2,905 63
P/B Multiple kr 2,176 kr 2,901 kr 3,627 55
Asset-Based
NCAV (Graham) kr 1,036 kr 1,389 kr 2,072 51
Economic Profit
Residual Income kr 1,729 kr 1,864 kr 2,207 76

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Quality Score breakdown

Overall quality 62/100

Of which business quality 54 · Market factors (momentum, volatility) 67

Profitability 34
Margins and returns on capital today
Quality Growth 58
Are margins and returns improving?
Cashflow 93
Earnings quality: real cash, not paper profit
Fin. Strength 4
Balance sheet, leverage, solvency risk
Investment 71
Disciplined investing over empire-building
Low Volatility 87
Calm price path (market factor)
Momentum 57
Price trend over the last 3–12 months (market factor)
52W Momentum 62
Distance to the 52-week high (market factor)
Net Issuance 82
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. 65/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−45.4%
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.
+1.0%
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.
+3.7%
Start year 2020 (pandemic). Over 10 years: +6.6% a year
Revenue growth 17 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.
+1.5%
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.
+34.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+27.9%
Dividend (yield on the price)6.5%
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.28% vs 20%, picking up
Profit margin 2019 to 2024 ⓘ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.15% → 29%
Start year 2020 (pandemic)

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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 7/10 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 59 · Above median
Fair Value upside +100% · Top 25%
Profitability
Return on equity (TTM) 9% · Below median
Return on assets 1% · Above median
Net margin (TTM) 44% · Top 25%
Operating margin (TTM) 52% · Top 25%
Growth and dividend
Revenue growth −5% · Bottom 25%
Dividend yield (TTM) 6.5% · Top 25%

Valuation Multiplesvs Banks - Regional median · lower = cheaper

P/E (TTM) 14.2× · Pricier than median
P/FCF 0.1× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 11
FUTURE (revenue growth)0 · sector 45
PAST (return on equity)37 · sector 41
HEALTH (low debt)0 · sector 85
DIVIDEND (yield)100 · 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 77.69 SGD 40.48 SGD −48%
China Merchants Bank Co 3968 HK$51.25 HK$62.30 +22%
Intesa Sanpaolo S.p.A ISP €6.73 €4.04 −40%
HDFC Bank Limited HDFCBANK ₹737.25 ₹406.85 −45%
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 ₹616.16 −54%
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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Sogn Sparebank · Fair Value
kr 614.00 +50%Fair Value
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Cite: Fair Value Calculator (2026). "Sogn Sparebank Fair Value". https://www.fairvalue-calculator.com/stock/SOGN

Frequently asked questions

Is Sogn Sparebank (SOGN) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of kr 614.00 versus a price of kr 308.95, about +99% upside (undervalued).
What is the fair value of SOGN?
Our model-based fair value for Sogn Sparebank is kr 614.00 (as of Sep 24, 2026), built from audited fundamentals. The current price: kr 308.95.
What is the quality score of SOGN?
Sogn Sparebank has a Quality Score of 62/100. 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 Sogn Sparebank (SOGN)?
Our model-based price target is the fair value of kr 614.00 (as of Sep 24, 2026) from 4 valuation models. Cautious scenario kr 460.50, optimistic scenario kr 767.50. It is a calculation from audited fundamentals, not an analyst target.
What is the Sogn Sparebank stock forecast for 2026?
Our models put fair value at kr 614.00, about +99% upside versus a price of kr 308.95 (undervalued). Cautious scenario kr 460.50, optimistic scenario kr 767.50. The calculation is refreshed regularly with new filings.
What is the revenue of Sogn Sparebank (SOGN)?
Sogn Sparebank reported trailing-twelve-month revenue of about 254M NOK (latest available figure, as of Sep 24, 2026).
Does Sogn Sparebank pay a dividend?
Sogn Sparebank currently shows a dividend yield of about 6.47% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Sogn Sparebank (SOGN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Sogn Sparebank it is kr 614.00 per share (as of Sep 24, 2026), against a price of kr 308.95. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).
Is Sogn Sparebank stock overvalued or undervalued in 2026?
As of Sep 24, 2026, SOGN trades below its calculated fair value: price kr 308.95, fair value kr 614.00, a gap of about +99% (undervalued). 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 SOGN?
No. The price is what the market pays today (kr 308.95); the fair value is what the company's own numbers justify (kr 614.00). For Sogn Sparebank the two are kr 305.05 per share apart. That gap is exactly why we show both numbers side by side.
How much is Sogn Sparebank worth?
The market values Sogn Sparebank at about 195M NOK (market capitalisation, as of Sep 24, 2026). Per share that is kr 308.95; our models calculate a fair value of kr 614.00 per share.
What do the bullish and bearish scenarios say about SOGN?
Our models span a range for Sogn Sparebank: cautious scenario kr 460.50, base kr 614.00, optimistic kr 767.50 per share (as of Sep 24, 2026, price kr 308.95). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SOGN?
Sogn Sparebank trades at a price-to-earnings ratio of 14.2 (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 614.00 is built from several models across several years.
How solid is the balance sheet of Sogn Sparebank (SOGN)?
Balance-sheet figures for Sogn Sparebank (as of Sep 24, 2026): return on equity 9.2%. They feed the Quality Score of 62/100, which measures business quality independently of the share price.
How far is SOGN from its 52-week high?
Sogn Sparebank trades at kr 308.95, about 15% below its 52-week high of kr 365.00 and 31% above the low of kr 235.76 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of kr 614.00 is for.
Which stocks are comparable to Sogn Sparebank?
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 Sogn Sparebank stock attractive at the current price?
The data as of Sep 24, 2026: price kr 308.95, calculated fair value kr 614.00 (+99%), Quality Score 62/100, 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 SOGN calculated?
We run Sogn Sparebank 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 614.00, 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 13.2 % above its aggregate fair value. Sogn Sparebank currently trades 99 % below its own fair value, and the market average says nothing about that. 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 Sogn Sparebank (SOGN)?
The closing price on Sep 24, 2026 was kr 308.95. Our model-based fair value is kr 614.00, about +99% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Sogn Sparebank right now?
The price is below even our cautious bear case (kr 460.50). The market is more pessimistic than our downside scenario. Solid quality (62/100) at a price below fair value, the discount is the argument here, not the business quality. 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 Sogn Sparebank (SOGN) come from?
Earnings per share at Sogn Sparebank grew +19.4 % a year from 2013 to 2024. Broken into its drivers: revenue per share +8.3 %, EBIT margin +10.8 %, tax rate −0.3 %, residual (interest, one-offs) −0.2 %. 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 Sogn Sparebank

How large is the market capitalisation of Sogn Sparebank (SOGN)?
The market capitalisation of Sogn Sparebank is 195M NOK (≈ $20.6M). 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 Sogn Sparebank (SOGN)?
The price-to-sales ratio of Sogn Sparebank is 6.24 (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 Sogn Sparebank (SOGN)?
Earnings per share at Sogn Sparebank are kr 21.76 (price ÷ EPS = P/E 14.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Sogn Sparebank (SOGN)?
The dividend yield of Sogn Sparebank is 6.5% (payout 91.9%). 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 Sogn Sparebank (SOGN)?
The net margin of Sogn Sparebank is 44.0% (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 Sogn Sparebank (SOGN)?
The return on equity (ROE) of Sogn Sparebank is 9.2% (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 Sogn Sparebank (SOGN)?
On an EBIT basis the return on assets of Sogn Sparebank is 1.2% (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 Sogn Sparebank (SOGN)?
The operating margin of Sogn Sparebank is 51.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Sogn Sparebank (SOGN)?
Revenue at Sogn Sparebank is growing −5.3% versus a year earlier (3y avg +1.0%). 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 Sogn Sparebank (SOGN)?
Earnings per share at Sogn Sparebank are growing −17.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Sogn Sparebank (SOGN) generate?
The free cash flow of Sogn Sparebank is 174M NOK (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 Sogn Sparebank (SOGN) carry?
The net debt of Sogn Sparebank is 6.8B NOK (fiscal year 2025, ≈ 38.9 yrs of FCF). 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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