SpareBank 1 SR-Bank SBNOR.OL
NorwayFinancial Services · Banks - RegionalEuronext Oslo Børs · NOK
214.00 NOK (+7.8%)
4 analysts
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SpareBank 1 SR-Bank is a Norwegian regional bank offering retail banking, mortgage lending, and financial services to individuals and businesses in southwestern Norway.
Listed on Euronext Oslo Børs · Symbol SBNOR.OL · OB: SBNOR · Currency NOK
Key points
from its scores- ✓High-quality business9.8
- ✓Favourable backdrop8.5
- ✓Attractive valuation8.1
- ✕Weak growth4.6
- !Balance sheet could be stronger5.2
AI analysis
bottom line, main risk, context and newsThe combination of quality, valuation, and dividend is solid, although negative earnings growth warrants some caution.
SpareBank 1 SR-Bank shows solid profitability (ROE 14.02%) and exceptional quality (net margin 54.61%), with an attractive valuation (P/E 9.04, P/B adjusted for ROE 0.52) and a net dividend yield of 5.44%. Earnings growth is negative (-10.50%), which tempers the growth score but does not overshadow its overall quality and value profile.
The main risk is the evolution of the net interest margin in a potentially lower-rate environment in Norway, which could compress the bank's future profitability.
Context and risks
SpareBank 1 SR-Bank operates under a stable Nordic banking regulatory framework with solid governance. The main risk is the specific regulatory risk of the Norwegian financial sector, which is moderate and already reflected in the country's risk profile.
Is SpareBank 1 SR-Bank stock cheap or expensive?
at the analysis dateOn P/E and Price / book, it trades 48% below the Financial Services median on average.
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| P/E | 9.0 | 13.7 | −34% |
| Price / book | 0.7 | 1.9 | −61% |
| Price / sales | 2.6 | 3.5 | −24% |
Sector: median of the 351 Financial Services companies analysed. In bold, the multiples used for the comparison.
Valuation score: 8.1 out of 10 (median for Financial Services: 5.2).
Average analyst target: 214.00 NOK, +7.8% versus the price.
A discount may reflect more risk or slower growth than its sector: Financial health 5.2 (sector 5.5), Growth 4.6 (sector 6.9).
Classic formulas with standard assumptions (0.0% growth, 8-9% discount rate). Indicative only: they change a lot with the assumptions and are not a recommendation.
Work out its fair value yourself →How much would you have made investing every month? →
Comparing it with its sector does not say whether it is a good buy: this is not investment advice.
Score by category
0 to 10 · hover overtap each one to see what it measuresKey metrics
at the analysis date · compared with the Financial Services medianValuation
- P/E
- 9.0
- Forward P/E
- 11.9
- Price / book
- 0.7
- Price / sales
- 2.6
- Market cap
- 34.3B NOK
- Enterprise value
- 338.5B NOK
Profitability
- ROE
- 14.0%
- ROA
- 1.3%
- ROIC (approx.)
- 2.5%
- Gross margin
- 0.0%
- Operating margin
- 68.1%
- Net margin
- 54.6%
Solvency
- Total debt
- 308.1B NOK
- Net debt
- 302.7B NOK
- Cash
- 5.5B NOK
Growth
- Revenue growth
- +9.2%
- Earnings growth
- −10.5%
- EPS (TTM)
- 21.97 NOK
- EPS (forward)
- 16.75 NOK
Dividend
- Dividend yield
- 6.0%
- Payout
- 74.1%
Risk and market
- Beta
- 0.41
- Analyst consensus
- Hold (4)
- Target price
- 214.00 NOK
- 52-week range
- 168.60 – 216.45
Recent news
All SBNOR.OL news →Compare it with its sector
All 351 in Financial Services →Frequently asked questions about SpareBank 1 SR-Bank
Is SpareBank 1 SR-Bank stock cheap or expensive?
On P/E and Price / book, it trades 48% below the Financial Services median on average. Valuation score: 8.1 out of 10 (median for Financial Services: 5.2). Average analyst target: 214.00 NOK, +7.8% versus the price. This is not investment advice.
What score does SpareBank 1 SR-Bank get on MeridIAn Screener?
It scores 7.4 out of 10, rank 71 of 2,130 (better than 97% of the companies analysed). Its strongest category is Quality / Moat (9.8) and its weakest, Growth (4.6). Analysis of 08/10/2026.
What is SpareBank 1 SR-Bank's P/E ratio?
Its P/E is 9.0: the share price equals 9.0 times earnings per share over the last 12 months. The Financial Services median is 13.7. Based on the earnings analysts expect, the forward P/E is 11.9.
How much is SpareBank 1 SR-Bank worth on the stock market?
Its market capitalisation is 34.3B NOK.
Does SpareBank 1 SR-Bank pay a dividend?
Yes: its dividend yield is 6.05% and it pays out 74% of its earnings.
How has SpareBank 1 SR-Bank stock performed over the last year?
It has risen 17.4% over the last year, excluding dividends. Over the last 52 weeks it has traded between 168.60 and 216.45 NOK. Past performance does not guarantee future results.
What do analysts think of SpareBank 1 SR-Bank?
4 analysts cover it; their average recommendation is “Hold” and their average target is 214.00 NOK (+7.8% versus the price). It is an estimate, not market data.