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Metrics | Range | Conclusion |
---|---|---|
Selected LTM Ps Multiple | 2.0x - 2.2x | 2.1x |
Selected Fwd Ps Multiple | 1.8x - 2.0x | 1.9x |
Fair Value | kr876.35 - kr968.59 | kr922.47 |
Upside | 4.3% - 15.3% | 9.8% |
Benchmarks | Ticker | Full Ticker |
---|---|---|
Vestjysk Bank A/S | - | CPSE:VJBA |
Møns Bank A/S | - | CPSE:MNBA |
Føroya Banki | - | CPSE:FOBANK |
Kreditbanken A/S | - | CPSE:KRE |
Skjern Bank A/S | - | CPSE:SKJE |
Lån & Spar Bank A/S | - | CPSE:LASP |
Select Price / LTM Sales Ratio | ||||||||
Benchmark Companies | ||||||||
VJBA | MNBA | FOBANK | KRE | SKJE | LASP | |||
CPSE:VJBA | CPSE:MNBA | CPSE:FOBANK | CPSE:KRE | CPSE:SKJE | CPSE:LASP | |||
Historical Sales Growth | ||||||||
5Y CAGR | 17.0% | 11.7% | 7.0% | 10.4% | 12.9% | 13.0% | ||
3Y CAGR | 11.7% | 13.0% | 10.1% | 14.3% | 16.3% | 16.7% | ||
Latest Twelve Months | -15.5% | 1.4% | 3.4% | -2.2% | 1.2% | 3.1% | ||
Historical Net Income Profit Margin | ||||||||
5 Year Average Margin | 46.6% | 26.2% | 52.5% | 37.1% | 38.2% | 24.0% | ||
Prior Fiscal Year | 43.3% | 33.6% | 49.0% | 43.9% | 41.0% | 32.1% | ||
Latest Fiscal Year | 40.3% | 31.0% | 48.7% | 41.0% | 40.8% | 29.7% | ||
Latest Twelve Months | 38.6% | 30.7% | 48.9% | 40.2% | 38.4% | 28.2% | ||
Current Trading Multiples | ||||||||
EV / LTM EBITDA | NA | NA | NA | NA | NA | NA | ||
Price / LTM Sales | 2.9x | 2.4x | 2.8x | 3.7x | 3.2x | 1.9x | ||
LTM P/E Ratio | 7.4x | 7.8x | 5.8x | 9.1x | 8.4x | 6.6x | ||
Low | Mid | High | ||||||
Benchmark LTM P/S Ratio | 2.4x | 2.9x | 3.7x | |||||
Historical LTM P/S Ratio | 1.5x | 2.0x | 2.3x | |||||
Selected Price / Sales Multiple | 2.0x | 2.1x | 2.2x | |||||
(x) LTM Sales | 1,551 | 1,551 | 1,551 | |||||
(=) Equity Value | 3,154 | 3,320 | 3,486 | |||||
(/) Shares Outstanding | 3.5 | 3.5 | 3.5 | |||||
Implied Value Range | 910.21 | 958.11 | 1,006.02 | |||||
FX Rate: DKK/DKK | 1.0 | 1.0 | 1.0 | Market Price | ||||
Implied Value Range (Trading Cur) | 910.21 | 958.11 | 1,006.02 | 840.00 | ||||
Upside / (Downside) | 8.4% | 14.1% | 19.8% |
Equity Value | |||||||
Benchmark Companies | |||||||
(in millions) | VJBA | MNBA | FOBANK | KRE | SKJE | LASP | |
Value of Common Equity | 5,889 | 644 | 1,824 | 1,235 | 2,115 | 2,911 | |
(/) Shares Outstanding | 1,233.4 | 2.0 | 9.6 | 0.2 | 9.6 | 3.5 | |
Implied Stock Price | 4.78 | 322.00 | 190.50 | 7,350.00 | 220.00 | 840.00 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
Implied Stock Price (Trading Cur) | 4.78 | 322.00 | 190.50 | 7,350.00 | 220.00 | 840.00 | |
Trading Currency | DKK | DKK | DKK | DKK | DKK | DKK | |
FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |