Stock MELG MELHUS SPAREBANK
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Financials Melhus Sparebank

Equities

MELG

NO0006001908

Banks

Market Closed - Oslo Bors
Other stock markets
 15:45:00 16/05/2024 BST 		5-day change 1st Jan Change
154.6 NOK +0.39% Intraday chart for Melhus Sparebank +0.39% -3.98%
02-15 Melhus Sparebank Reports Earnings Results for the Full Year Ended December 31, 2023 CI
02-15 Melhus Sparebank Reports Earnings Results for the Fourth Quarter Ended December 31, 2023 CI

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 391.4 408.1 430.3 447 447 429.2 - -
Enterprise Value (EV) 1 391.4 408.1 430.3 447 447 429.2 429.2 429.2
P/E ratio 10.3 x 12.4 x 11.2 x 12.7 x 10 x 11 x 11.1 x 11 x
Yield 7.09% 4.76% 6.77% - - 7.76% 7.76% 7.76%
Capitalization / Revenue 2.52 x 2.76 x 2.62 x 2.38 x 1.79 x 1.55 x 1.55 x 1.47 x
EV / Revenue 2.52 x 2.76 x 2.62 x 2.38 x 1.79 x 1.55 x 1.55 x 1.47 x
EV / EBITDA - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 0.99 x 1.01 x 1.01 x - - 0.96 x 0.94 x 0.93 x
Nbr of stocks (in thousands) 2,776 2,776 2,776 2,776 2,776 2,776 - -
Reference price 2 141.0 147.0 155.0 161.0 161.0 154.6 154.6 154.6
Announcement Date 13/02/20 11/02/21 10/02/22 15/02/23 15/02/24 - - -
1NOK in Million2NOK
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 155.6 147.9 164.1 187.9 249.1 277.3 277 292.2
EBITDA - - - - - - - -
EBIT 1 125.9 93.5 99.4 127.5 199.7 173.2 170.6 183.8
Operating Margin 80.91% 63.21% 60.58% 67.89% 80.17% 62.46% 61.59% 62.9%
Earnings before Tax (EBT) 1 125.3 110.5 133.1 125.2 177 173.4 183.5 195
Net income 1 97.58 88.21 105.2 100.6 135.4 134.6 141.9 150.4
Net margin 62.71% 59.63% 64.14% 53.56% 54.33% 48.54% 51.23% 51.47%
EPS 2 13.64 11.84 13.90 12.72 16.09 14.03 13.99 14.01
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 10.00 7.000 10.50 - - 12.00 12.00 12.00
Announcement Date 13/02/20 11/02/21 10/02/22 15/02/23 15/02/24 - - -
1NOK in Million2NOK
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 42.03 42.61 53.97 46.1 49.89 50.26 66.24 62.03 65.07 65.87 76.64 69.1 70 70.5
EBITDA - - - - - - - - - - - - - -
EBIT 1 25.87 24.9 23.64 45.48 32.96 25.46 36.72 - 42.13 37.46 40.99 50.9 40.7 39
Operating Margin 61.55% 58.44% 43.8% 98.67% 66.06% 50.66% 55.44% - 64.74% 56.88% 53.49% 73.66% 58.14% 55.32%
Earnings before Tax (EBT) 1 27.25 37.63 23.24 41.4 30.62 29.98 33.89 76.71 39.01 27.79 33.66 61 39.4 37.5
Net income 1 20.56 30.37 17.53 36.28 22.16 24.66 25.42 61.56 29.57 19.17 25.2 50.3 29.6 28.1
Net margin 48.93% 71.27% 32.48% 78.7% 44.41% 49.05% 38.38% 99.23% 45.44% 29.1% 32.88% 72.79% 42.29% 39.86%
EPS 2 2.700 4.020 2.160 4.640 2.790 3.130 3.050 7.470 3.480 2.090 2.740 5.550 3.260 3.100
Dividend per Share - - - - - - - - - - - - - -
Announcement Date 11/11/21 10/02/22 05/05/22 11/08/22 10/11/22 15/02/23 11/05/23 14/08/23 10/11/23 15/02/24 14/05/24 - - -
1NOK in Million2NOK
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 9.34% 7.94% 9.07% - - 9.3% 9.3% 9.2%
ROA (Net income/ Total Assets) 1.1% 0.95% 1.07% - - 1.2% 1.2% 1.2%
Assets 1 8,871 9,248 9,863 - - 11,217 11,825 12,533
Book Value Per Share 2 143.0 146.0 153.0 - - 162.0 164.0 166.0
Cash Flow per Share - - - - - - - -
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 13/02/20 11/02/21 10/02/22 15/02/23 15/02/24 - - -
1NOK in Million2NOK
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Melhus Sparebank

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
1
Last Close Price
154.6 NOK
Average target price
158 NOK
Spread / Average Target
+2.20%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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