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DNB ASA (DNBBY)
OTHER OTC:DNBBY
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DNB ASA
(OTC:DNBBY)
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Rating:75Outperform
Price Target:―
DNB ASA's overall score reflects strong financial performance with robust revenue growth and profitability, despite concerns about negative cash flows. The technical analysis indicates positive momentum, while the valuation suggests the stock is undervalued. The recent earnings call supports a positive outlook with strong performance metrics and guidance. However, challenges such as inflation and regulatory requirements pose risks.
DNB ASA (DNBBY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$38.82B
Dividend Yield6.14%
Average Volume (3M)5.17K
Price to Earnings (P/E)9.5
Beta (1Y)0.44
Revenue Growth-0.15%
EPS Growth7.97%
CountryUS
Employees11,188
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)0.70
Shares Outstanding1,492,530,300
10 Day Avg. Volume10,867
30 Day Avg. Volume5,166
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
P/FCF RatioN/A
Enterprise Value/Market Cap3.59
Enterprise Value/Revenue0.93
Enterprise Value/Gross Profit1.60
Enterprise Value/Ebitda3.12
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
DNB ASA Business Overview & Revenue Model
Company DescriptionDNB Bank ASA provides financial services for retail and corporate customers in Norway and internationally. The company offers personal banking products and services, including savings and investment products; loans, such as home mortgages, and car and consumer loans; pet, home and property, travel, and personal insurance products, as well as insurance products for vehicles; retirement savings products; foreign exchange and treasury activities; and Internet and mobile banking services, as well as cards. It also provides business banking products and services comprising savings and investment products consisting of savings accounts, fixed rate deposits, exchange traded products, bonds and commercial papers, asset management, and equity services; financing, such as installment loans, overdraft facility, bank guarantees, leasing, factoring, and trade and export financing services; transaction banking services; research, commodities, bonds and commercial papers, corporate finance, debt capital market, equities, foreign exchange and interest rates, and securities services; and Internet services, including online equity trading, online FX trading, e-confirmation, equities execution, and investor and margin accounts, as well as pension services. In addition, the company provides investment banking services, such as mergers and acquisition, and equity and debt capital market services; foreign exchange, interest rates, equities, commodities, fixed income, research, private equity, and securities services; and corporate banking services. Further, it offers private banking services. The company offers its products and services to various sectors, including energy; financial institutions; healthcare; manufacturing; packaging and forest products; seafood; shipping, offshore, and logistics; and telecom, media, and technology. DNB Bank ASA was founded in 1822 and is headquartered in Oslo, Norway.
How the Company Makes MoneyDNB ASA generates revenue through various streams, primarily from interest income on loans and credit extended to personal and corporate customers. The bank also earns income from fees and commissions associated with its wealth management, asset management, and investment banking services. Additionally, DNB generates revenue through its insurance products, including life and non-life insurance offerings. Key partnerships with international financial institutions and a strong focus on digital banking solutions further contribute to its revenue growth. Foreign exchange services and treasury operations also play a role in the company's earnings.
DNB ASA Earnings Call Summary
Earnings Call Date:Oct 22, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Feb 06, 2026
Earnings Call Sentiment Neutral
The earnings call presented a mix of strong financial performance and economic indicators alongside challenges such as declining net interest income and significant loan loss provisions in Poland.Q3-2025 Updates
Positive Updates
Strong Financial Performance
DNB delivered a solid third quarter result with a return on equity of 15.8% and earnings per share of NOK 6.98, an uptick of 2.8% from the last quarter.
Positive Economic Indicators
Norwegian GDP growth is expected at 1.8% this year. Unemployment remains low at around 2%, and real wages are expected to increase, supporting purchasing power and lending growth.
Robust Credit Portfolio
99.4% of the credit portfolio is in Stage 1 and 2, indicating a robust and well-diversified credit portfolio.
New Share Buyback Program
DNB launched a new share buyback program of 1% in addition to the one completed during the third quarter.
Growth in Assets Under Management
Underlying asset under management growth was NOK 54 billion in the quarter.
Negative Updates
Decline in Net Interest Income
Net interest income fell by 1%, impacted by the key policy rate, customer repricings, and product mix effects.
Significant Loan Loss Provisions in Poland
DNB took NOK 281 million of loan loss provisions in Poland this quarter, with accumulated provisions totaling NOK 1.6 billion related to the legacy currency portfolio.
Volatility in Large Corporate Deposits
Large corporate deposits showed volatility, with fluctuations linked to time deposits and foreign currency effects.
Company Guidance
In the recent DNB Q3 Conference Call, the bank provided guidance on several key metrics. GDP growth for Norway is projected at 1.8% for the current year, with expectations of 1.3% to 1.5% growth in subsequent years. The unemployment rate remains low at around 2%, supporting potential loan growth and consumption. DNB reported a solid Q3 result with a return on equity of 15.8% and an earnings per share of NOK 6.98, reflecting a 2.8% increase from the previous quarter. The bank highlighted a slight decline of 1% in net interest income due to changes in the key policy rate and customer repricings, while noting a positive loan growth across all customer segments. Deposit growth was observed at 0.6%, driven by public sector seasonality, with large corporate deposit upticks at 8.5%. The credit portfolio remains robust, with 99.4% in Stage 1 and 2. DNB also launched a 1% share buyback program, maintaining a core equity Tier 1 ratio of 17.9%, which is 135 basis points above the regulatory expectation.DNB ASA Financial Statement Overview
Summary
DNB ASA demonstrates strong revenue growth and profitability with increasing revenue and net profit margins. However, the lack of EBIT and EBITDA data for 2024 and negative cash flows present potential risks. The balance sheet shows financial stability with zero debt and a strong equity position.Income Statement
DNB ASA shows a strong revenue growth trajectory with a notable increase in total revenue from NOK 79.06 billion in 2023 to NOK 84.82 billion in 2024, marking a revenue growth rate of approximately 7.79%. The gross profit margin remains consistently high as total revenue equals gross profit. However, the lack of reported EBIT and EBITDA for 2024 raises concerns about operational efficiency and transparency in this period. The net profit margin improved significantly from 49.93% in 2023 to 53.95% in 2024, indicating strong profitability.72
Positive
Balance Sheet
The company's balance sheet is robust, with a solid stockholders' equity to total assets ratio of 7.83% in 2024, indicating a strong equity base. The company has no total debt reported in 2024, which significantly reduces financial risk. The return on equity (ROE) improved to 16.17% in 2024, showcasing enhanced profitability and efficient use of equity. Overall, the balance sheet reflects financial stability with a strong equity position and minimal financial leverage.80
Positive
Cash Flow
DNB ASA's cash flow statement indicates challenges in cash generation, with a negative operating cash flow of NOK -156.44 billion in 2024, significantly impacting free cash flow, which is also negative at NOK -159.12 billion. This represents a substantial deterioration compared to previous years, raising concerns about liquidity and cash management. The operating cash flow to net income ratio is negative, suggesting that the company's operations are not generating sufficient cash relative to its net income.60
Neutral
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 149.92B | 85.33B | 79.06B | 65.39B | 55.39B | 56.00B |
| Gross Profit | 87.11B | 85.33B | 81.25B | 65.50B | 55.39B | 56.00B |
| EBITDA | 44.72B | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Income | 46.10B | 45.77B | 39.48B | 33.36B | 25.33B | 19.85B |
Balance Sheet | ||||||
| Total Assets | 3.84T | 3.61T | 3.44T | 3.23T | 2.92T | 2.92T |
| Cash, Cash Equivalents and Short-Term Investments | 434.62B | 179.96B | 335.58B | 317.12B | 400.72B | 373.01B |
| Total Debt | 1.03T | 1.01T | 952.37B | 838.67B | 778.50B | 824.50B |
| Total Liabilities | 3.56T | 3.33T | 3.17T | 2.98T | 2.68T | 2.67T |
| Stockholders Equity | 275.95B | 283.11B | 269.13B | 249.61B | 243.65B | 248.28B |
Cash Flow | ||||||
| Free Cash Flow | -47.49B | -159.12B | 43.00M | 5.44B | 37.10B | 80.74B |
| Operating Cash Flow | -44.98B | -156.44B | 4.12B | 8.95B | 41.59B | 84.57B |
| Investing Cash Flow | -15.46B | -880.00M | -1.76B | -7.65B | -4.39B | -4.72B |
| Financing Cash Flow | -19.30B | -29.57B | 14.18B | 5.48B | -15.74B | -102.23B |
DNB ASA Technical Analysis
Negative
26.07
Price Trends
26.79
Negative
26.68
Negative
25.46
Positive
Market Momentum
-0.20
Positive
44.84
Neutral
22.70
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DNBBY, the sentiment is Negative. The current price of 26.07 is below the 20-day moving average (MA) of 26.71, below the 50-day MA of 26.79, and above the 200-day MA of 25.46, indicating a neutral trend. The MACD of -0.20 indicates Positive momentum. The RSI at 44.84 is Neutral, neither overbought nor oversold. The STOCH value of 22.70 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DNBBY.
DNB ASA Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| ― | $38.82B | 9.54 | 17.29% | 6.14% | -0.15% | 7.97% | |
| ― | $27.88B | 11.18 | 9.60% | 3.06% | -0.66% | 20.36% | |
| ― | $21.66B | 10.69 | 11.43% | 4.18% | 4.28% | 28.54% | |
| ― | $27.98B | 12.64 | 11.52% | 3.57% | -1.74% | 11.62% | |
| ― | $57.16B | 11.89 | 7.98% | 4.69% | 21.90% | ― | |
| ― | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
| ― | $29.54B | 7.76 | 10.14% | 2.29% | -3.11% | 28.74% |
* Financial Sector Average
DNBBY
DNB ASA
26.25
5.29
25.24%
TFC
Truist Financial
44.33
3.05
7.39%
FITB
Fifth Third Bancorp
41.77
-0.75
-1.76%
KB
Kb Financial Group
81.42
14.08
20.91%
MTB
M&T Bank
181.34
-10.74
-5.59%
RF
Regions Financial
24.27
1.18
5.11%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.