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SPAREBANK 1 SMN (MING.OL) Stock Fundamental Analysis

OSL:MING - Euronext Oslo - NO0006390301 - Common Stock - Currency: NOK

180.22  +0.56 (+0.31%)

Fundamental Rating

3

Taking everything into account, MING scores 3 out of 10 in our fundamental rating. MING was compared to 95 industry peers in the Banks industry. While MING is still in line with the averages on profitability rating, there are concerns on its financial health. MING is quite expensive at the moment. It does show a decent growth rate. Finally MING also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

In the past year MING was profitable.
Each year in the past 5 years MING has been profitable.
In multiple years MING reported negative operating cash flow during the last 5 years.
MING.OL Yearly Net Income VS EBIT VS OCF VS FCFMING.OL Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5B -5B

1.2 Ratios

MING has a Return On Assets of 1.45%. This is amongst the best in the industry. MING outperforms 89.47% of its industry peers.
MING has a Return On Equity (12.07%) which is comparable to the rest of the industry.
Industry RankSector Rank
ROA 1.45%
ROE 12.07%
ROIC N/A
ROA(3y)0.97%
ROA(5y)0.88%
ROE(3y)8.36%
ROE(5y)7.68%
ROIC(3y)N/A
ROIC(5y)N/A
MING.OL Yearly ROA, ROE, ROICMING.OL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2 4 6 8

1.3 Margins

MING's Profit Margin of 31.03% is amongst the best of the industry. MING outperforms 82.11% of its industry peers.
In the last couple of years the Profit Margin of MING has grown nicely.
The Operating Margin and Gross Margin are not available for MING so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) 31.03%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y7.29%
PM growth 5Y4.66%
GM growth 3YN/A
GM growth 5YN/A
MING.OL Yearly Profit, Operating, Gross MarginsMING.OL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

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0

2. Health

2.1 Basic Checks

MING does not have a ROIC to compare to the WACC, probably because it is not profitable.
MING has about the same amout of shares outstanding than it did 1 year ago.
The number of shares outstanding for MING has been increased compared to 5 years ago.
Compared to 1 year ago, MING has a worse debt to assets ratio.
MING.OL Yearly Shares OutstandingMING.OL Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M
MING.OL Yearly Total Debt VS Total AssetsMING.OL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50B 100B 150B 200B

2.2 Solvency

MING has a Debt/Equity ratio of 1.77. This is a high value indicating a heavy dependency on external financing.
Looking at the Debt to Equity ratio, with a value of 1.77, MING is in line with its industry, outperforming 56.84% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.77
Debt/FCF N/A
Altman-Z N/A
ROIC/WACCN/A
WACC3.29%
MING.OL Yearly LT Debt VS Equity VS FCFMING.OL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20B 40B

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
MING.OL Yearly Current Assets VS Current LiabilitesMING.OL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 500M 1B 1.5B 2B

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4

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 21.54% over the past year.
MING shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 9.16% yearly.
Looking at the last year, MING shows a very strong growth in Revenue. The Revenue has grown by 23.37%.
Measured over the past years, MING shows a small growth in Revenue. The Revenue has been growing by 7.97% on average per year.
EPS 1Y (TTM)21.54%
EPS 3Y14.86%
EPS 5Y9.16%
EPS Q2Q%-16.9%
Revenue 1Y (TTM)23.37%
Revenue growth 3Y10.85%
Revenue growth 5Y7.97%
Sales Q2Q%-6.17%

3.2 Future

The Earnings Per Share is expected to decrease by -2.09% on average over the next years.
MING is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 1.24% yearly.
EPS Next Y-9.12%
EPS Next 2Y-5.2%
EPS Next 3Y-2.09%
EPS Next 5YN/A
Revenue Next Year0.87%
Revenue Next 2Y0.63%
Revenue Next 3Y1.24%
Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
MING.OL Yearly Revenue VS EstimatesMING.OL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2B 4B 6B 8B
MING.OL Yearly EPS VS EstimatesMING.OL Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 5 10 15 20

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3

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 8.92, the valuation of MING can be described as reasonable.
MING's Price/Earnings ratio is in line with the industry average.
When comparing the Price/Earnings ratio of MING to the average of the S&P500 Index (28.79), we can say MING is valued rather cheaply.
The Price/Forward Earnings ratio is 9.82, which indicates a very decent valuation of MING.
Compared to the rest of the industry, the Price/Forward Earnings ratio of MING is on the same level as its industry peers.
MING's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 21.38.
Industry RankSector Rank
PE 8.92
Fwd PE 9.82
MING.OL Price Earnings VS Forward Price EarningsMING.OL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
MING.OL Per share dataMING.OL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 50 100 150 200

4.3 Compensation for Growth

MING's earnings are expected to decrease with -2.09% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)0.97
EPS Next 2Y-5.2%
EPS Next 3Y-2.09%

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7

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 7.12%, MING is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 5.47, MING pays a better dividend. On top of this MING pays more dividend than 83.16% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.51, MING pays a better dividend.
Industry RankSector Rank
Dividend Yield 7.12%

5.2 History

The dividend of MING is nicely growing with an annual growth rate of 6.94%!
Dividend Growth(5Y)6.94%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

DP0%
EPS Next 2Y-5.2%
EPS Next 3Y-2.09%
MING.OL Yearly Income VS Free CF VS DividendMING.OL Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B -2B 4B -4B -6B -8B

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SPAREBANK 1 SMN

OSL:MING (4/25/2025, 7:00:00 PM)

180.22

+0.56 (+0.31%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)02-12 2025-02-12/bmo
Earnings (Next)05-08 2025-05-08
Inst Owners34.78%
Inst Owner ChangeN/A
Ins Owners0.3%
Ins Owner ChangeN/A
Market Cap25.99B
Analysts76.92
Price Target184.45 (2.35%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 7.12%
Yearly Dividend6.14
Dividend Growth(5Y)6.94%
DP0%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)19.16%
Min EPS beat(2)8.55%
Max EPS beat(2)29.78%
EPS beat(4)3
Avg EPS beat(4)8.31%
Min EPS beat(4)-5.28%
Max EPS beat(4)29.78%
EPS beat(8)5
Avg EPS beat(8)3.12%
EPS beat(12)8
Avg EPS beat(12)3.49%
EPS beat(16)12
Avg EPS beat(16)7.44%
Revenue beat(2)2
Avg Revenue beat(2)4.51%
Min Revenue beat(2)2.76%
Max Revenue beat(2)6.27%
Revenue beat(4)4
Avg Revenue beat(4)4.39%
Min Revenue beat(4)1.74%
Max Revenue beat(4)6.78%
Revenue beat(8)5
Avg Revenue beat(8)1.43%
Revenue beat(12)7
Avg Revenue beat(12)6.9%
Revenue beat(16)10
Avg Revenue beat(16)10.84%
PT rev (1m)1.12%
PT rev (3m)5.65%
EPS NQ rev (1m)0%
EPS NQ rev (3m)N/A
EPS NY rev (1m)1.01%
EPS NY rev (3m)5.54%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)1.52%
Valuation
Industry RankSector Rank
PE 8.92
Fwd PE 9.82
P/S 2.25
P/FCF N/A
P/OCF N/A
P/B 0.88
P/tB 0.91
EV/EBITDA N/A
EPS(TTM)20.2
EY11.21%
EPS(NY)18.36
Fwd EY10.19%
FCF(TTM)N/A
FCFYN/A
OCF(TTM)N/A
OCFYN/A
SpS80.13
BVpS205.94
TBVpS197.41
PEG (NY)N/A
PEG (5Y)0.97
Profitability
Industry RankSector Rank
ROA 1.45%
ROE 12.07%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 31.03%
GM N/A
FCFM N/A
ROA(3y)0.97%
ROA(5y)0.88%
ROE(3y)8.36%
ROE(5y)7.68%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y7.29%
PM growth 5Y4.66%
GM growth 3YN/A
GM growth 5YN/A
F-ScoreN/A
Asset Turnover0.05
Health
Industry RankSector Rank
Debt/Equity 1.77
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-ScoreN/A
WACC3.29%
ROIC/WACCN/A
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)21.54%
EPS 3Y14.86%
EPS 5Y9.16%
EPS Q2Q%-16.9%
EPS Next Y-9.12%
EPS Next 2Y-5.2%
EPS Next 3Y-2.09%
EPS Next 5YN/A
Revenue 1Y (TTM)23.37%
Revenue growth 3Y10.85%
Revenue growth 5Y7.97%
Sales Q2Q%-6.17%
Revenue Next Year0.87%
Revenue Next 2Y0.63%
Revenue Next 3Y1.24%
Revenue Next 5YN/A
EBIT growth 1YN/A
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1YN/A
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1YN/A
OCF growth 3YN/A
OCF growth 5YN/A