Storebrand ASA (STB) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Storebrand ASA NOK 67.43, price NOK 195, upside -65.4%, quality 54 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 57.15 – kr 206.80 · fair‑value band kr 50.57 – kr 84.29 · the kr 195.00 price screens above the kr 67.43 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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Storebrand ASA provides insurance products and services in Norway, the United States, Germany, Sweden, the United Kingdom, and internationally. It operates through four segments: Savings, Insurance, Guaranteed Pensions, and Other. The Savings segment offers retirement savings, defined contribution pensions, asset management, and retail banking products.
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Storebrand ASA provides insurance products and services in Norway, the United States, Germany, Sweden, the United Kingdom, and internationally. It operates through four segments: Savings, Insurance, Guaranteed Pensions, and Other. The Savings segment offers retirement savings, defined contribution pensions, asset management, and retail banking products. The Insurance segment provides personal insurance, non-life insurance, personal risk, and pension-related insurance products. The Guaranteed Pensions segment offers long-term pension savings products, such as defined contribution pensions, paid-up policies, and individual capital and pension insurance products. The Other segment provides life insurance products. The company serves private individuals, businesses, public enterprises, and corporate and retail markets. Storebrand ASA was founded in 1767 and is headquartered in Lysaker, Norway.
Stock analysis
Storebrand ASA (STB) currently trades at kr 195.00, while our model-based Fair Value estimate is kr 67.43, implying the stock looks roughly 189.2% overvalued today.
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Valuation
How firm this estimate is: it rests on 19 models at a data quality of 95/100, which puts the evidence level at medium.
Scenario range: kr 50.57 (bear) to kr 84.29 (bull), the price of kr 195.00 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 54/100 (solid quality), in the Financial Services sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Storebrand ASA reported revenue of 207M NOK in FY2025 versus 118B NOK in FY2021, a compound −79.6%/yr. Reported net income was 5.0B NOK in FY2025, compounding +12.7%/yr from FY2021.
Key figures
Market cap 82.7B NOK (≈ $8.7B) · P/E ratio 18.0 · EPS (TTM) kr 10.81 · Dividend yield 2.8% · Net margin 6.4% · Return on equity 13.9% · Return on assets (EBIT) 0.1% · Operating margin −242%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 6% below its 52-week high and 35% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −25% fair-value upside, at −65%, STB screens richer than that median.
Fair Value models
Bear kr 50.57Fair Value kr 67.43Bull kr 84.29
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 3.96 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.37/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−93.4%
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.
−82.5%
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.
−69.7%
Start year 2020 (pandemic). Over 10 years: −41.2% 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.
−16.0%
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What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+26.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+23.8%
Dividend (yield on the price)2.8%
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.19% vs 10%, picking up
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.2% → −6,978%
2025 sits 58% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Start year 2020 (pandemic)
⚠ Revenue per share shrinking 42.2%/yr over ~10Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
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).
+13.1%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Norway: IMF forecast 2.4% a year to 2030, 3.3% from 2016 to 2025) that is about +10.4% a year for the price.
News mood ⓘNews mood, the average tone of recent news (56 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
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.Financial Conglomerates · 57 stocks
Beats the industry median on 7/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score55 · Above median
Fair Value upside−65% · Bottom 25%
Profitability
Return on equity (TTM)14% · Top 25%
Return on assets4% · Top 25%
Net margin (TTM)6% · Below median
Growth and dividend
Revenue growth35% · Top 25%
Dividend yield (TTM)2.8% · Above median
Balance sheet
Debt / equity1.88× · Highest 25%
Valuation Multiplesvs Financial Conglomerates median · lower = cheaper
P/E (TTM)18.0× · Pricier than median
P/B2.49× · Priciest 25%
P/S (TTM)1.13× · Cheaper than median
P/FCF1.9× · Pricier than median
EV/EBITDA2.3× · Cheapest 25%
PEG3.46× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 7
FUTURE (revenue growth)100· sector 39
PAST (return on equity)56· sector 30
HEALTH (low debt)6· sector 83
DIVIDEND (yield)55· sector 54
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). "Storebrand ASA Fair Value". https://www.fairvalue-calculator.com/stock/STB
Frequently asked questions
Is Storebrand ASA (STB) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of kr 67.43 versus a price of kr 195.00, about −65% upside (overvalued).
What is the fair value of STB?
Our model-based fair value for Storebrand ASA is kr 67.43 (as of Sep 24, 2026), built from audited fundamentals. The current price: kr 195.00.
What is the quality score of STB?
Storebrand ASA has a Quality Score of 54/100. 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 Storebrand ASA (STB)?
Our model-based price target is the fair value of kr 67.43 (as of Sep 24, 2026) from 2 valuation models. Cautious scenario kr 50.57, optimistic scenario kr 84.29. It is a calculation from audited fundamentals, not an analyst target.
What is the Storebrand ASA stock forecast for 2026?
Our models put fair value at kr 67.43, about −65% upside versus a price of kr 195.00 (overvalued). Cautious scenario kr 50.57, optimistic scenario kr 84.29. The calculation is refreshed regularly with new filings.
Does Storebrand ASA pay a dividend?
Storebrand ASA currently shows a dividend yield of about 2.77% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Storebrand ASA (STB)?
For today's price to be fair in a discounted-cash-flow model, Storebrand ASA would have to grow free cash flow by +13.1 % per year for five years (discount rate 8.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -69.7 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of STB use?
Our models discount Storebrand ASA at 8.4 %: a base by market capitalisation (mid), damped by beta 0.52, country premium for Norway. 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 Storebrand ASA that is +13.1 % per year a year over ten years, using the same discount rate (8.4 %) and the same formula as our fair value.
How much growth has Storebrand ASA (STB) delivered so far?
Over the past 5 years revenue at Storebrand ASA grew -69.7 % a year. The price currently implies +13.1 % 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 Storebrand ASA (STB) growing?
The median revenue growth in the sector is +8.4 % a year. That is the yardstick for the growth priced into Storebrand ASA (+13.1 % 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 Storebrand ASA (STB)?
The free-cash-flow yield on the price is 5.55 %: that much free cash flow Storebrand ASA produces per unit of market value. When it exceeds the discount rate of our models (8.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Storebrand ASA (STB)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Storebrand ASA it is kr 67.43 per share (as of Sep 24, 2026), against a price of kr 195.00. It is the blended result of 2 valuation models (cash flow, earnings, asset, dividend).
Is Storebrand ASA stock overvalued or undervalued in 2026?
As of Sep 24, 2026, STB trades above its calculated fair value: price kr 195.00, fair value kr 67.43, a gap of about −65% (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 STB?
No. The price is what the market pays today (kr 195.00); the fair value is what the company's own numbers justify (kr 67.43). For Storebrand ASA the two are kr 127.57 per share apart. That gap is exactly why we show both numbers side by side.
How much is Storebrand ASA worth?
The market values Storebrand ASA at about 82.7B NOK (market capitalisation, as of Sep 24, 2026). Per share that is kr 195.00; our models calculate a fair value of kr 67.43 per share.
What do the bullish and bearish scenarios say about STB?
Our models span a range for Storebrand ASA: cautious scenario kr 50.57, base kr 67.43, optimistic kr 84.29 per share (as of Sep 24, 2026, price kr 195.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of STB?
Storebrand ASA trades at a price-to-earnings ratio of 18.0 (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 67.43 is built from several models across several years. Other multiples: PEG 3.5, P/B 2.5, P/S 1.1, EV/EBITDA 2.3.
What is the PEG ratio of STB?
The PEG ratio of Storebrand ASA is 3.46 (P/E divided by earnings growth, as of Sep 24, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Storebrand ASA (STB)?
Balance-sheet figures for Storebrand ASA (as of Sep 24, 2026): return on equity 13.9%, debt of 1.88 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is STB from its 52-week high?
Storebrand ASA trades at kr 195.00, about 6% below its 52-week high of kr 206.80 and 35% above the low of kr 144.41 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of kr 67.43 is for.
Which stocks are comparable to Storebrand ASA?
From the same area (Financial Services) we also value ORIX Corporation, Bajaj Finserv Ltd, Yuanta Financial Holding, China Galaxy Securities Co, 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 Storebrand ASA stock attractive at the current price?
The data as of Sep 24, 2026: price kr 195.00, calculated fair value kr 67.43 (−65%), Quality Score 54/100, from 2 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 STB calculated?
We run Storebrand ASA through 2 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 67.43, 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 14.1 % above its aggregate fair value. Storebrand ASA 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 Storebrand ASA (STB)?
The closing price on Sep 23, 2026 was kr 195.00. Our model-based fair value is kr 67.43, about −65% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Storebrand ASA right now?
The price sits above even our optimistic bull case (kr 84.29). The favourable scenario is already priced in. Solid but not exceptional quality (54/100) 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 Storebrand ASA (STB) come from?
Earnings per share at Storebrand ASA grew +8.4 % a year from 2011 to 2022. Broken into its drivers: revenue per share +5.3 %, EBIT margin +16.5 %, tax rate +1.9 %, residual (interest, one-offs) −13.3 %. 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 Storebrand ASA
How large is the market capitalisation of Storebrand ASA (STB)?
The market capitalisation of Storebrand ASA is 82.7B NOK (≈ $8.7B). 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 are the earnings per share of Storebrand ASA (STB)?
Earnings per share at Storebrand ASA are kr 10.81 (price ÷ EPS = P/E 18.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Storebrand ASA (STB)?
The dividend yield of Storebrand ASA is 2.8% (payout 50.0%). 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 Storebrand ASA (STB)?
The net margin of Storebrand ASA is 6.4% (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 Storebrand ASA (STB)?
The return on equity (ROE) of Storebrand ASA is 13.9% (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 Storebrand ASA (STB)?
On an EBIT basis the return on assets of Storebrand ASA is 0.1% (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 Storebrand ASA (STB)?
The operating margin of Storebrand ASA is −242% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Storebrand ASA (STB)?
Revenue at Storebrand ASA is growing +35.0% versus a year earlier (3y avg −82.5%). 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 Storebrand ASA (STB)?
Earnings per share at Storebrand ASA are growing −38.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Storebrand ASA (STB) carry?
The net debt of Storebrand ASA is 46.4B NOK (fiscal year 2025, ≈ 10.1 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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Some data
Sep 24, 2026