DNB ASA (DNBBY)
OTHER OTC:DNBBY
Want to see DNBBY full AI Analyst Report?
Top Page
DNB ASA
(OTC:DNBBY)
Select Model
Select Model
Rating:64Neutral
Price Target:
$32.00
â–²(16.62% Upside)
Action:ReiteratedDate:04/28/26
The score is primarily held back by uneven financial quality—especially volatile/negative recent cash flows and leverage risk—despite strong profitability. Valuation is a clear positive (moderate P/E and high dividend yield), while technicals point to a longer-term uptrend but neutral-to-soft near-term momentum. Earnings-call commentary was broadly constructive on capital strength and fee/flows, but margin pressure and impairments temper confidence.
Positive Factors
Robust capital position (CET1 & leverage)
A CET1 ratio of 18.1% with substantial regulatory headroom and a 6.5% leverage ratio provides a durable capital buffer. This supports dividend and buyback capacity, allows measured lending growth, and reduces regulatory constraint risk, enhancing strategic flexibility over the coming months.
Negative Factors
Elevated balance-sheet leverage
Debt/equity of roughly 3.2–3.6x denotes structurally high leverage, which magnifies earnings volatility and sensitivity to credit cycles or funding shocks. Despite strong CET1, elevated leverage limits downside protection and can constrain strategic options during stressed market conditions.
Read all positive and negative factors
Positive Factors
Negative Factors
Robust capital position (CET1 & leverage)
A CET1 ratio of 18.1% with substantial regulatory headroom and a 6.5% leverage ratio provides a durable capital buffer. This supports dividend and buyback capacity, allows measured lending growth, and reduces regulatory constraint risk, enhancing strategic flexibility over the coming months.
Read all positive factors
DNB ASA (DNBBY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$44.03B
Dividend Yield5.74%
Average Volume (3M)5.17K
Price to Earnings (P/E)11.2
Beta (1Y)0.48
Revenue Growth-0.45%
EPS Growth1.13%
CountryUS
Employees11,188
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)0.70
Shares Outstanding1,477,605,000
10 Day Avg. Volume10,867
30 Day Avg. Volume5,166
Financial Highlights & Ratios
PEG Ratio-3.70
Price to Book (P/B)1.40
Price to Sales (P/S)2.04
P/FCF Ratio5.89
Enterprise Value/Market Cap23.36
Enterprise Value/Revenue5.29
Enterprise Value/Gross Profit15.41
Enterprise Value/Ebitda18.76
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)2.85
Revenue Forecast (FY)$9.61B
DNB ASA Business Overview & Revenue Model
Company Description
DNB 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...
How the Company Makes Money
DNB makes money primarily through a diversified set of financial-services revenue streams:
1) Net interest income (core banking): The largest source of earnings typically comes from the spread between interest earned on assets (such as residentia...
DNB ASA Earnings Call Summary
Earnings Call Date:Apr 23, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 13, 2026
Earnings Call Sentiment Positive
The call presented a generally positive performance: strong fee growth, record asset management net inflows, solid profitability (ROE 14%, EPS NOK 6.5) and a robust capital position (CET1 18.1%). These positives were tempered by pressure on net interest income and margin (NII -5.4%, NIM -7bps), competition-driven spread compression (NOK 449m), and impairments of NOK ~644m largely from customer-specific situations. Management emphasizes portfolio quality, cost discipline, continued integration benefits from Carnegie, and preparedness on funding, while acknowledging macro and rate uncertainty. On balance, the favourable results, strong flows and capital strength outweigh the near-term earnings headwinds from margins and some sector-specific impairments.Positive Updates
Record Asset Management Net Inflows
Net inflows of NOK 20.4 billion in Q1 (record for a quarter) and NOK 65 billion over the last 12 months; assets under management only down 1.2% YoY despite market volatility, with strong retail contribution ( > NOK 5 billion this quarter).
Negative Updates
Net Interest Income and Margin Pressure
Net interest income down 5.4% quarter-on-quarter; net interest margin compressed by 7 basis points to 174 bps in Q1, driven by repricing effects, product mix and competitive pressure.
Read all updates
Q1-2026 Updates
Positive
Negative
Record Asset Management Net Inflows
Net inflows of NOK 20.4 billion in Q1 (record for a quarter) and NOK 65 billion over the last 12 months; assets under management only down 1.2% YoY despite market volatility, with strong retail contribution ( > NOK 5 billion this quarter).
Read all positive updates
Company Guidance
Management's guidance emphasized an expected monetary path of two 25 bp hikes this year to a 4.5% policy rate (with rates then easing ~25 bp in 2027 toward ~4%), a 2026 tax rate of 22% (long‑term 23%), and continued focus on profitable growth and cost efficiency: a NOK 3bn gross cost‑cut target (on track) and a submitted FSA application for a 1% buyback within an AGM authorization of up to 3%; balance‑sheet and performance targets/support metrics include CET1 of 18.1% (170 bps headroom) and a leverage ratio of 6.5% enabling dividends and buybacks, an ROE of 14% this quarter (15.5% R12), EPS NOK 6.5, cost/income 38.7%, a lending growth ambition around 3–4% (Q1 FX‑adjusted loan growth +0.3%; Retail +0.2%; Large Corporates +2.3%), deposits +2.6% (currency‑adjusted) with a deposit‑to‑loan ratio of 73.8%, NIM 174 bps (down 7 bps q/q) and NII −5.4% q/q, net commissions/fees +18% y/y, Asset Management net inflows NOK 20.4bn in Q1 (NOK 65bn last 12 months, AUM −1.2% q/q), impairments NOK 644m (corporate NOK 556m) with 99.4% of exposures in Stages 1–2.DNB ASA Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
63
Positive
Cash Flow
38
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 194.44B | 201.48B | 214.18B | 180.35B | 97.09B | 63.59B |
| Gross Profit | 66.77B | 89.44B | 84.82B | 78.60B | 65.66B | 56.26B |
| EBITDA | 54.84B | 57.15B | 58.50B | 54.05B | 44.03B | 36.03B |
| Net Income | 42.03B | 43.55B | 45.77B | 39.48B | 33.36B | 25.33B |
Balance Sheet | ||||||
| Total Assets | 3.84T | 3.70T | 3.61T | 3.44T | 3.23T | 2.92T |
| Cash, Cash Equivalents and Short-Term Investments | 281.22B | 162.78B | 179.96B | 525.95B | 455.16B | 400.72B |
| Total Debt | 906.03B | 935.67B | 1.01T | 952.37B | 838.67B | 778.50B |
| Total Liabilities | 3.54T | 3.40T | 3.33T | 3.17T | 2.98T | 2.68T |
| Stockholders Equity | 300.32B | 295.15B | 283.11B | 269.13B | 249.61B | 243.65B |
Cash Flow | ||||||
| Free Cash Flow | -50.16B | 69.93B | -159.12B | 43.00M | 5.44B | 37.10B |
| Operating Cash Flow | -48.12B | 72.59B | -156.44B | 4.12B | 8.95B | 41.59B |
| Investing Cash Flow | -173.56B | -15.50B | -880.00M | -1.76B | -7.65B | -4.39B |
| Financing Cash Flow | -44.17B | -33.87B | -29.57B | 14.18B | 5.48B | -15.74B |
DNB ASA Technical Analysis
Positive
27.44
Price Trends
31.03
Positive
29.34
Positive
27.88
Positive
Market Momentum
0.63
Negative
62.09
Neutral
74.01
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DNBBY, the sentiment is Positive. The current price of 27.44 is below the 20-day moving average (MA) of 31.34, below the 50-day MA of 31.03, and below the 200-day MA of 27.88, indicating a bullish trend. The MACD of 0.63 indicates Negative momentum. The RSI at 62.09 is Neutral, neither overbought nor oversold. The STOCH value of 74.01 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
74 Outperform | $23.93B | 10.08 | 11.78% | 3.74% | 2.92% | 16.52% | |
72 Outperform | $32.12B | 12.71 | 10.25% | 2.76% | -0.24% | 19.76% | |
71 Outperform | $45.09B | 58.08 | 8.86% | 3.14% | 7.66% | -5.41% | |
69 Neutral | $38.43B | 7.18 | 10.27% | 2.79% | 35.44% | 7.33% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
66 Neutral | $63.27B | 9.69 | 8.51% | 4.12% | 26.83% | 19.23% | |
64 Neutral | $44.03B | 11.19 | 14.89% | 5.74% | -0.45% | 1.13% |
* Financial Sector Average
DNBBY
DNB ASA
30.16
7.63
33.85%
TFC
Truist Financial
51.50
14.68
39.88%
FITB
Fifth Third Bancorp
50.76
15.92
45.69%
KB
Kb Financial Group
111.22
49.72
80.85%
MTB
M&T Bank
218.63
52.78
31.82%
RF
Regions Financial
28.55
8.87
45.10%
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.