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 95 industry peers in the Banks industry. MORG may be in some trouble as it scores bad on both profitability and health. 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.

MORG had positive earnings in each of the past 5 years.

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

1.2 Ratios

The Return On Assets of MORG (0.53%) is comparable to the rest of the industry.

MORG has a worse Return On Equity (5.96%) than 65.26% 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

MORG has a worse Profit Margin (14.80%) than 71.58% 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.

The number of shares outstanding for MORG has been increased compared to 1 year ago.

The number of shares outstanding for MORG has been increased compared to 5 years ago.

MORG has a worse debt/assets ratio than last year.

2.2 Solvency

A Debt/Equity ratio of 4.41 is on the high side and indicates that MORG has dependencies on debt financing.

Looking at the Debt to Equity ratio, with a value of 4.41, MORG is doing worse than 82.11% of the companies in the same industry.

		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%.

The Earnings Per Share has been growing slightly by 7.75% on average over the past years.

The Revenue has grown by 62.51% in the past year. This is a very strong growth!

MORG shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 7.49% yearly.

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

Based on estimates for the next years, MORG will show a small growth in Earnings Per Share. The EPS will grow by 1.08% on average per year.

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

EPS Next Y-0.6%

EPS Next 2Y-2.63%

EPS Next 3Y1.08%

EPS Next 5YN/A

Revenue Next Year1.7%

Revenue Next 2Y0.34%

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.

The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.

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4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 9.92 indicates a reasonable valuation of MORG.

MORG's Price/Earnings ratio is a bit more expensive when compared to the industry. MORG is more expensive than 68.42% of the companies in the same industry.

When comparing the Price/Earnings ratio of MORG to the average of the S&P500 Index (28.79), we can say MORG is valued rather cheaply.

Based on the Price/Forward Earnings ratio of 9.98, the valuation of MORG can be described as reasonable.

62.11% of the companies in the same industry are cheaper than MORG, based on the Price/Forward Earnings ratio.

MORG's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 21.38.

		Industry Rank	Sector Rank
PE	9.92
Fwd PE	9.98

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)1.28

EPS Next 2Y-2.63%

EPS Next 3Y1.08%

More info and screens

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5. Dividend

5.1 Amount

MORG has a Yearly Dividend Yield of 6.44%, which is a nice return.

MORG's Dividend Yield is a higher than the industry average which is at 5.50.

MORG's Dividend Yield is rather good when compared to the S&P500 average which is at 2.47.

		Industry Rank	Sector Rank
Dividend Yield	6.44%

5.2 History

On average, the dividend of MORG grows each year by 19.19%, which is quite nice.

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.

The dividend of MORG is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.

DP68.93%

EPS Next 2Y-2.63%

EPS Next 3Y1.08%

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SPAREBANKEN MORE-CAP CERT

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

98.75

+1.77 (+1.83%)

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 Cap4.92B

Analysts74.55

Price Target102.26 (3.55%)

Short Float %N/A

Short RatioN/A

Dividend

		Industry Rank	Sector Rank
Dividend Yield	6.44%

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)0.75%

PT rev (3m)7.22%

EPS NQ rev (1m)0%

EPS NQ rev (3m)N/A

EPS NY rev (1m)0.6%

EPS NY rev (3m)3.15%

Revenue NQ rev (1m)0%

Revenue NQ rev (3m)N/A

Revenue NY rev (1m)0.4%

Revenue NY rev (3m)0.8%

Valuation

		Industry Rank	Sector Rank
PE	9.92
Fwd PE	9.98
P/S	1.35
P/FCF	N/A
P/OCF	N/A
P/B	0.54
P/tB	0.55
EV/EBITDA	N/A

EPS(TTM)9.95

EY10.08%

EPS(NY)9.89

Fwd EY10.02%

FCF(TTM)-56.14

FCFYN/A

OCF(TTM)-55.38

OCFYN/A

SpS73.03

BVpS181.24

TBVpS180.02

PEG (NY)N/A

PEG (5Y)1.28

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-0.6%

EPS Next 2Y-2.63%

EPS Next 3Y1.08%

EPS Next 5YN/A

Revenue 1Y (TTM)62.51%

Revenue growth 3Y-0.39%

Revenue growth 5Y7.49%

Sales Q2Q%2.08%

Revenue Next Year1.7%

Revenue Next 2Y0.34%

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