DNB Bank ASA (DNBBY) Fair Value & Analysis
Financial Services · US · Market cap $43.4B · ISIN US23341C1036
What is DNB Bank ASA really worth?
DNB Bank ASA
DNBBY · US
A solid business, trading 48% below our fair value of $65.56.
Strengths
Risks
For context
Fair value as of: Aug 15, 2026
From 6 valuation models · updated 21 days ago
Fair value updated Aug 15, 2026, revised from $41.15 to $65.56 (+59.3%) since Jul 26, 2026. Share price +6.8% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price is below even our cautious bear case ($49.17). The market is more pessimistic than our downside scenario.
- Solid quality (63/100) at a price below fair value, the discount is the argument here, not the business quality.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 15, 2026.
How to read this chart
60‑month range $11.94 – $34.41 · fair‑value band $49.17 – $81.95 · the $34.41 price screens below the $65.56 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 15, 2026.
Analysis
DNB Bank ASA (DNBBY) currently trades at $34.41, while our model-based Fair Value estimate is $65.56, implying the stock looks roughly 47.5% undervalued today. The Quality Score stands at 63/100 (solid quality), in the Financial Services sector. Bull case: the Multiples group reads highest at a median of $287.70 per share, and 6 of the 6 models we run sit above the $34.41 price. Bear case: the Asset-Based group reads lowest at $137.69, and 0 of the 6 models stay below the price. Evidence for this calculation is medium.
Over the trailing twelve months, DNB Bank ASA generated revenue of $87.5B at a net margin of 48.6%. Revenue declined 1.7% year over year. It earns a return on equity of 14.3%. Net debt stands at $773B. Fundamentals as of Aug 15, 2026
Our scenario range runs from $49.17 (bear case) to $81.95 (bull case); at $34.41, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 47% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −10% fair-value upside, at 91%, DNBBY screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 6 models by family
Widest divergence: Multiples ($287.70) versus Asset-Based ($137.69). Highest evidence: Residual Income (70).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 15, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 59 · Market factors (momentum, volatility) 80
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
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 …
Full company description
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.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
DNB Bank ASA reported revenue of 201B NOK in FY2025 versus 63.6B NOK in FY2021, a compound +33.4%/yr. Reported net income was 43.5B NOK in FY2025, compounding +14.5%/yr from FY2021.
of which total revenue +16.2 % · buybacks/dilution +0.9 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
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Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- OTP Bank to acquire Luminor
- DNB Bank ASA (DNBBF) Q2 2026 Earnings Call Highlights: Strong ROE and Record Asset Management ...
- How The Investment Story For DNB Bank (OB:DNB) Is Evolving Without New Analyst Input
- Assessing DNB Bank (OB:DNB) Valuation After Modest Recent Share Price Moves
Peer Group
Banks - Regional · 1071 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Banks - Regional median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Insider activity: 45/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Banks - Regional stocks, each showing price versus our Fair Value estimate (as of Aug 15, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| DBS Group D05 | 75.65 SGD | 40.48 SGD | −46% |
| China Merchants Bank Co 3968 | HK$47.96 | HK$76.51 | +60% |
| Intesa Sanpaolo S.p.A ISP | €6.78 | €5.66 | −17% |
| HDFC Bank Limited HDB | $23.17 | $24.12 | +4% |
| BNP Paribas SA BNP | €102.56 | €144.64 | +41% |
| UniCredit S.p.A UCG | €84.71 | €77.62 | −8% |
| Mizuho Financial Group MFG | $10.74 | $9.69 | −10% |
| ICICI Bank Limited ICICIBANK | ₹1,443 | ₹835.21 | −42% |
| Oversea-Chinese Banking Corporation O39 | 31.07 SGD | 19.80 SGD | −36% |
| CaixaBank, S.A CABK | €13.52 | €8.85 | −35% |
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