DNB Bank ASA
DNB Bank ASA provides financial services to individuals and businesses in Norway and internationally. The company offers savings, current, currency, client, tax withholding, and pension accounts; fixed rate and security deposits; home and cabin mortgages, construction and fixed-rate loans, car and …
DNB Bank ASA provides financial services to individuals and businesses in Norway and internationally. The company offers savings, current, currency, client, tax withholding, and pension accounts; fixed rate and security deposits; home and cabin mortgages, construction and fixed-rate loans, car and consumer loans, business loans, and refinancing; home equity credit lines; car, house, home contents, travel, personal, and non-life insurance products; payment services; and online and mobile banking services, as well as cards. It also provides overdraft facilities; leasing; factoring, supply chain, and receivable purchase financing; bank guarantees; secure trading, documentary collection, and letter of credit; investment banking services, such as mergers and acquisitions, equity and debt capital market, loans, bonds, convertible bonds, direct lending, and other private placements; and private financing and commodities services. In addition, the company offers equity trading, foreign exchange, research, share and stock market, securities, and risk advisory services. Further, it provides treasury management, working capital, trade finance, equipment financing, real estate broking, and corporate finance services. DNB Bank ASA was founded in 1822 and is headquartered in Oslo, Norway.After signing in, return here and select “Add to watchlist”. Saving companies requires a verified email address.
Priced within the modelled range
Why: Banks and insurers earn their money on their balance sheet, so value follows book value and how much the company earns on it (return on equity).
Start with the price and fair value range, then review the data dates and assumptions below. Estimates are not predictions or investment advice.
Market price within modeled range
Showing the EPS-based Gordon proxy you selected on the company card, using 6.73% growth, 2.4% terminal growth and 9.6% discount. The range varies these assumptions slightly; it is illustrative, not investment advice.
Assumptions: growth 6.73%, discount rate 9.60%, terminal growth 2.40% (sector defaults). See a worked example.
Blended growth assumption: 6.7% (sector default 5.4%, own revenue history 11.0%, analyst revenue consensus 5.3%).
5-year outlook: relative outlook of about 12.0% a year (High confidence), anchored to a 7% market return and adjusted for how this company ranks against others. A ranking aid, not a prediction. See the full forecast.
Analyst consensus expects revenue growth of 5.3% a year; the growth assumption used is 6.7%.
Adjust assumptions
Show the recommended model instead
Why this model: Banks and insurers earn their money on their balance sheet, so value follows book value and how much the company earns on it (return on equity).
Compare models- Recommended: Justified P/B (ROE) — NOK 330.70 (+2.7%)
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EPS-based Gordon proxy
— NOK 406.63 (+26.3%)
Not used: Treats all earnings as if paid out and ignores the cash kept for reinvestment, so it overstates value for companies that retain most profit.
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DCF (trailing free cash flow)
— not applicable
Not used: Cannot be computed: free cash flow is zero or negative.
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FCFF (steady state)
— not applicable
Not used: Cannot be computed: free cash flow is zero or negative.
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EV/EBITDA (12x)
— not applicable
Not used: Cannot be computed: EBITDA is missing, zero or negative.
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Fade DCF (10-year growth fade)
— not applicable
Not used: Cannot be computed: free cash flow is zero or negative.
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EV/Sales (Rule of 40)
— not applicable
Not used: Cannot be computed: revenue is missing.
| Bear NOK 315.12 | -2.2% |
| Base NOK 406.63 | 20.8% |
| Bull NOK 472.21 | 31.8% |
Margin = (value − price) / value, so it is measured against the value and reads lower than the upside to value, which is measured against the price. Positive means the price is below that case.
Track record: see the methodology page for how this model has performed historically, including its limits. Treat it as a screen, not a forecast.
Price history and fair value
3 months price change: +6.73% · NOK 326.70 · Market data through 05 Nov 2026 ; dashed line is today’s model base value (NOK 406.63). The fair value is today’s estimate, not what the model said in the past.
Saved price history is current through 05 Nov 2026; last refreshed 06 Nov 2026 18:14 (45 minutes ago).
10 Aug 2026Range NOK 302.40 – 326.7005 Nov 2026
Latest news
Headlines provided by EODHD. Articles may mention multiple companies and are not investment recommendations.
More detail: quality, peers, price history, dividends and financials
Quality score: 87 / 100
Five equal checks on reported history: profitability, cash generation, revenue growth, balance sheet and margins. It describes business quality, not whether the price is attractive.
| Profitability | 5 of 5 years profitable | 20 / 20 |
| Cash generation | free cash flow positive in 3 of 5 years | 12 / 20 |
| Growth | revenue +7.8% a year | 20 / 20 |
Peers in Financials
Same-sector companies with a valuation, most undervalued first. Compare the margin of safety, yield and quality score side by side.
| Company | Price | Margin of safety | P/E | P/B | Yield | Quality |
|---|---|---|---|---|---|---|
| DNB.OL (this company) | NOK 321.90 | 2.7% | 11.3 | 1.6 | 5.2% | 87 |
| BRK-B Berkshire Hathaway Inc. (Class B) | USD 571.97 | 99.9% | 0.0 | 0.0 | – | 92 |
| PSH.L Pershing Square Holdings, Ltd. | GBP 38.66 | 68.4% | 3.7 | 0.6 | 1.3% | 76 |
| LRE.L Lancashire Holdings Limited | GBP 6.86 | 45.8% | 7.1 | 1.6 | 3.3% | 76 |
| ACA.PA Credit Agricole S.A. | EUR 15.84 | 36.1% | 6.8 | 0.7 | 6.9% | 78 |
| PRU.L Prudential plc | GBP 9.23 | 34.4% | 8.0 | 1.6 | 1.9% | 78 |
| V Visa Inc. | USD 422.59 | 33.3% | 8.9 | – | 0.2% | 100 |
| AGS.BR ageas SA/NV | EUR 77.50 | 32.6% | 8.1 | 1.5 | 5.0% | 76 |
| NWG.L NatWest Group plc | GBP 5.87 | 30.2% | 8.2 | 1.3 | 5.0% | 88 |
| Peer median | 7.6 | 1.3 | ||||
Dividends
Paid in the last 12 months: NOK 18.00 per share · yield 5.59% at the current price.
| Year | Dividends per share |
|---|---|
| 2026 (so far) | 18.000 |
| 2025 | 16.750 |
| 2024 | 16.000 |
| 2023 | 12.500 |
| 2022 | 9.750 |
| 2021 | 17.400 |
Trailing 12-month financials
TTM through 30 Sep 2026 · quarterly EODHD data · data downloaded 06 Nov 2026 18:31
| Revenue | NOK 88,453,000,000 |
|---|---|
| EBITDA | NOK |
| EBIT | NOK |
| Net income | NOK 40,651,000,000 |
| Free cash flow | NOK -25,022,000,000 |
| Capital expenditures | NOK 3,756,000,000 |
| Debt | NOK 1,027,432,000,000 |
| Cash | NOK 184,564,000,000 |
| Working capital | NOK |
| Shares outstanding | 1,421,818,239 |