SPAREBANKEN MORE-CAP CERT(OSL:MORG) stock Fundamental Analysis

Fundamental Rating

Overall MORG gets a fundamental rating of 2 out of 10. We evaluated MORG against 99 industry peers in the Banks industry. Both the profitability and financial health of MORG have multiple concerns. MORG does not seem to be growing, but still is valued expensively.

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1. Profitability

1.1 Basic Checks

In the past year MORG was profitable.

MORG had a negative operating cash flow in the past year.

Each year in the past 5 years MORG has been profitable.

In multiple years MORG reported negative operating cash flow during the last 5 years.

1.2 Ratios

Looking at the Return On Assets, with a value of 0.53%, MORG is in line with its industry, outperforming 40.86% of the companies in the same industry.

MORG's Return On Equity of 5.96% is on the low side compared to the rest of the industry. MORG is outperformed by 64.52% of its industry peers.

		Industry Rank	Sector Rank
ROA	0.53%
ROE	5.96%
ROIC	N/A

ROA(3y)0.5%

ROA(5y)0.45%

ROE(3y)5.57%

ROE(5y)4.97%

ROIC(3y)N/A

ROIC(5y)N/A

1.3 Margins

The Profit Margin of MORG (14.80%) is worse than 69.89% of its industry peers.

MORG's Profit Margin has been stable in the last couple of years.

MORG does not have Operating Margin and Gross Margin available, so we won't be analyzing them here.

		Industry Rank	Sector Rank
OM	N/A
PM (TTM)	14.8%
GM	N/A

OM growth 3YN/A

OM growth 5YN/A

PM growth 3Y19.13%

PM growth 5Y1.05%

GM growth 3YN/A

GM growth 5YN/A

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

MORG does not have a ROIC to compare to the WACC, probably because it is not profitable.

MORG has more shares outstanding than it did 1 year ago.

MORG has more shares outstanding than it did 5 years ago.

Compared to 1 year ago, MORG has a worse debt to assets ratio.

2.2 Solvency

MORG has a Debt/Equity ratio of 4.41. This is a high value indicating a heavy dependency on external financing.

With a Debt to Equity ratio value of 4.41, MORG is not doing good in the industry: 81.72% of the companies in the same industry are doing better.

		Industry Rank	Sector Rank
Debt/Equity	4.41
Debt/FCF	N/A
Altman-Z	N/A

ROIC/WACCN/A

WACC5.14%

2.3 Liquidity

		Industry Rank	Sector Rank
Current Ratio	N/A
Quick Ratio	N/A

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WACC

Debt/Equity

How to determine the health of a company

Altman-Z score

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3. Growth

3.1 Past

MORG shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -1.68%.

MORG shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 7.75% yearly.

MORG shows a strong growth in Revenue. In the last year, the Revenue has grown by 62.51%.

Measured over the past years, MORG shows a small growth in Revenue. The Revenue has been growing by 7.49% on average per year.

EPS 1Y (TTM)-1.68%

EPS 3Y17.45%

EPS 5Y7.75%

EPS Q2Q%-38.11%

Revenue 1Y (TTM)62.51%

Revenue growth 3Y-0.39%

Revenue growth 5Y7.49%

Sales Q2Q%2.08%

3.2 Future

The Earnings Per Share is expected to grow by 3.29% on average over the next years.

The Revenue is expected to grow by 1.69% on average over the next years.

EPS Next Y-2.02%

EPS Next 2Y-2.63%

EPS Next 3Y3.29%

EPS Next 5YN/A

Revenue Next Year1.3%

Revenue Next 2Y0.47%

Revenue Next 3Y1.69%

Revenue Next 5YN/A

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.

When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.

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4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 10.05, the valuation of MORG can be described as very reasonable.

Compared to the rest of the industry, the Price/Earnings ratio of MORG indicates a slightly more expensive valuation: MORG is more expensive than 61.29% of the companies listed in the same industry.

When comparing the Price/Earnings ratio of MORG to the average of the S&P500 Index (29.35), we can say MORG is valued rather cheaply.

With a Price/Forward Earnings ratio of 10.26, the valuation of MORG can be described as very reasonable.

The rest of the industry has a similar Price/Forward Earnings ratio as MORG.

MORG's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 22.10.

		Industry Rank	Sector Rank
PE	10.05
Fwd PE	10.26

4.2 Price Multiples

		Industry Rank	Sector Rank
P/FCF	N/A
EV/EBITDA	N/A

4.3 Compensation for Growth

PEG (NY)N/A

PEG (5Y)1.3

EPS Next 2Y-2.63%

EPS Next 3Y3.29%

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5. Dividend

5.1 Amount

MORG has a Yearly Dividend Yield of 6.45%, which is a nice return.

MORG's Dividend Yield is a higher than the industry average which is at 5.06.

Compared to an average S&P500 Dividend Yield of 2.33, MORG pays a better dividend.

		Industry Rank	Sector Rank
Dividend Yield	6.45%

5.2 History

The dividend of MORG is nicely growing with an annual growth rate of 19.19%!

Dividend Growth(5Y)19.19%

Div Incr Years0

Div Non Decr Years0

5.3 Sustainability

68.93% of the earnings are spent on dividend by MORG. This is not a sustainable payout ratio.

MORG's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.

DP68.93%

EPS Next 2Y-2.63%

EPS Next 3Y3.29%

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SPAREBANKEN MORE-CAP CERT

OSL:MORG (3/7/2025, 7:00:00 PM)

100

+3.14 (+3.24%)

Chartmill FA Rating

GICS SectorFinancials

GICS IndustryGroupBanks

GICS IndustryBanks

Earnings (Last)01-30 2025-01-30/bmo

Earnings (Next)04-30 2025-04-30

Inst Owners26.72%

Inst Owner ChangeN/A

Ins Owners0.31%

Ins Owner ChangeN/A

Market Cap4.98B

Analysts74.55

Price Target101.49 (1.49%)

Short Float %N/A

Short RatioN/A

Dividend

		Industry Rank	Sector Rank
Dividend Yield	6.45%

Yearly Dividend7.51

Dividend Growth(5Y)19.19%

DP68.93%

Div Incr Years0

Div Non Decr Years0

Ex-DateN/A

Surprises & Revisions

EPS beat(2)1

Avg EPS beat(2)-4.95%

Min EPS beat(2)-14.22%

Max EPS beat(2)4.31%

EPS beat(4)2

Avg EPS beat(4)-0.71%

Min EPS beat(4)-14.22%

Max EPS beat(4)14.05%

EPS beat(8)4

Avg EPS beat(8)-2.94%

EPS beat(12)6

Avg EPS beat(12)24.18%

EPS beat(16)8

Avg EPS beat(16)18.82%

Revenue beat(2)1

Avg Revenue beat(2)-1.97%

Min Revenue beat(2)-6.28%

Max Revenue beat(2)2.34%

Revenue beat(4)1

Avg Revenue beat(4)-2.49%

Min Revenue beat(4)-6.28%

Max Revenue beat(4)2.34%

Revenue beat(8)2

Avg Revenue beat(8)-2.02%

Revenue beat(12)4

Avg Revenue beat(12)-0.65%

Revenue beat(16)6

Avg Revenue beat(16)-0.35%

PT rev (1m)6.42%

PT rev (3m)8.55%

EPS NQ rev (1m)0%

EPS NQ rev (3m)N/A

EPS NY rev (1m)2.03%

EPS NY rev (3m)1.68%

Revenue NQ rev (1m)0%

Revenue NQ rev (3m)N/A

Revenue NY rev (1m)0.4%

Revenue NY rev (3m)1.13%

Valuation

		Industry Rank	Sector Rank
PE	10.05
Fwd PE	10.26
P/S	1.37
P/FCF	N/A
P/OCF	N/A
P/B	0.55
P/tB	0.56
EV/EBITDA	N/A

EPS(TTM)9.95

EY9.95%

EPS(NY)9.75

Fwd EY9.75%

FCF(TTM)-56.14

FCFYN/A

OCF(TTM)-55.38

OCFYN/A

SpS73.03

BVpS181.24

TBVpS180.02

PEG (NY)N/A

PEG (5Y)1.3

Profitability

		Industry Rank	Sector Rank
ROA	0.53%
ROE	5.96%
ROCE	N/A
ROIC	N/A
ROICexc	N/A
ROICexgc	N/A
OM	N/A
PM (TTM)	14.8%
GM	N/A
FCFM	N/A

ROA(3y)0.5%

ROA(5y)0.45%

ROE(3y)5.57%

ROE(5y)4.97%

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 3Y19.13%

PM growth 5Y1.05%

GM growth 3YN/A

GM growth 5YN/A

F-Score2

Asset Turnover0.04

Health

		Industry Rank	Sector Rank
Debt/Equity	4.41
Debt/FCF	N/A
Debt/EBITDA	N/A
Cap/Depr	N/A
Cap/Sales	1.04%
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-Score2

WACC5.14%

ROIC/WACCN/A

Cap/Depr(3y)N/A

Cap/Depr(5y)N/A

Cap/Sales(3y)1.41%

Cap/Sales(5y)1.32%

Profit Quality(3y)N/A

Profit Quality(5y)N/A

High Growth Momentum

Growth

EPS 1Y (TTM)-1.68%

EPS 3Y17.45%

EPS 5Y7.75%

EPS Q2Q%-38.11%

EPS Next Y-2.02%

EPS Next 2Y-2.63%

EPS Next 3Y3.29%

EPS Next 5YN/A

Revenue 1Y (TTM)62.51%

Revenue growth 3Y-0.39%

Revenue growth 5Y7.49%

Sales Q2Q%2.08%

Revenue Next Year1.3%

Revenue Next 2Y0.47%

Revenue Next 3Y1.69%

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 1Y-155.34%

FCF growth 3YN/A

FCF growth 5YN/A

OCF growth 1Y-161.67%

OCF growth 3YN/A

OCF growth 5YN/A

SPAREBANKEN MORE-CAP CERT (MORG.OL) Stock Fundamental Analysis

1. Profitability

1.1 Basic Checks

1.2 Ratios

1.3 Margins

More info and screens

2. Health

2.1 Basic Checks

2.2 Solvency

2.3 Liquidity

More info and screens

3. Growth

3.1 Past

3.2 Future

3.3 Evolution

More info and screens

4. Valuation

4.1 Price/Earnings Ratio

4.2 Price Multiples

4.3 Compensation for Growth

More info and screens

5. Dividend

5.1 Amount

5.2 History

5.3 Sustainability

More info and screens