Sparebanken Øst (SPOG) Fair Value & Analysis
Financial Services · NO · Market cap 1.5B NOK
Fair value as of: Jul 14, 2026
From 6 valuation models · updated 27 days ago
Fair value updated Jul 14, 2026, revised from kr 144.82 to kr 141.40 (−2.4%) since Jun 26, 2026. Share price −1.9% over the past month.
Below-average quality, screening 96% undervalued on our models.
What matters now
- The price is below even our cautious bear case (kr 106.05). The market is more pessimistic than our downside scenario.
- Solid quality (49/100) 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.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 14, 2026.
How to read this chart
60‑month range kr 32.17 – kr 82.60 · fair‑value band kr 106.05 – kr 176.75 · the kr 72.10 price screens below the kr 141.40 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 14, 2026.
Analysis
Sparebanken Øst (SPOG) currently trades at kr 72.10, while our model-based Fair Value estimate is kr 141.40, implying the stock looks roughly 96.1% undervalued today. The Quality Score stands at 49/100 (below-average quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.
Over the trailing twelve months, Sparebanken Øst generated revenue of 1.0B NOK at a net margin of 50.6%. Revenue declined 7.3% year over year. It earns a return on equity of 10.9%. Net debt stands at 23.1B NOK. Fundamentals as of Jul 14, 2026
Our scenario range runs from kr 106.05 (bear case) to kr 176.75 (bull case); at kr 72.10, the current price sits below 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 about 13% below its 52-week high and 12% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 42% fair-value upside, at 96%, SPOG screens cheaper 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.
All 6 models by family
Widest divergence: Multiples (kr 327.83) versus Asset-Based (kr 162.96). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 14, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 42 · Market factors (momentum, volatility) 57
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
Sparebanken Øst operates as a savings bank in eastern Norway. The company offers savings, tax withholding, guardianship, investment, high-interest business, and other accounts; retirement savings; corporate and other deposits; agricultural operating and agricultural credits; letters of credit; interest rate swaps; commercial property financing; commercial …
Full company description
Sparebanken Øst operates as a savings bank in eastern Norway. The company offers savings, tax withholding, guardianship, investment, high-interest business, and other accounts; retirement savings; corporate and other deposits; agricultural operating and agricultural credits; letters of credit; interest rate swaps; commercial property financing; commercial property upgrade, green business, car, framework, and installment loans, as well as construction loans for businesses; mortgages; guarantees; and overdrafts. It also provides cyber, warranty, group life, health, truck and construction machinery, project, travel, child, car, home, contents, life, disability, boats, and other vehicle insurance products, as well as homeowners insurance for commercial buildings; debit and bank cards; and refinancing, pension, payment, mobile and online banking, and other banking services. In addition, the company buys, sells, and stores cryptocurrencies; trades in shares and funds; operates as a real estate agent; and provides investment banking services. Sparebanken Øst was founded in 1843 and is headquartered in Drammen, Norway.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Sparebanken Øst reported revenue of kr 1.0B in FY2025 versus kr 758M in FY2021, a compound +8.2%/yr. Reported net income was kr 523M in FY2025, compounding +9.7%/yr from FY2021.
of which total revenue −0.6 pp · buybacks/dilution +0.0 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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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.
Valuation Multiples vs Banks - Regional median · lower = cheaper
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.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
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 14, 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
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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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