Rankings Financial data & insurance broking Grønlandsbanken
Grønlandsbanken
72
15070100
A view of the same findings, not a new score. How it works
A strong score: the model found few serious problems, but analysts see limited upside from here.
Biggest deductions
- Multiples vs own history−10
- Quality of growth−4
- Efficiency and ROE−4
Strengths
- Raised guidance+2
- Capital and credit quality+2
- Dividend+1
How the score is built
From 100 to 72, step by step: points off for the business, the price and the cracks, back for documented strengths, then three data adjustments.
Start
Score
Hover or select a step to see what drove it. Steps with findings open them below.
Key numbers
As of 3 Nov 2026. Analyst targets tend to be optimistic; read upside as a hint, not a forecast.
- Price
- 1,255 DKK
- Median analyst target
- –
- Upside to median
- –
- Analysts
- none
- Target range
- –
- 52-week change
- +45%
- P/E (trailing)
- 12.4
- Forward P/E
- n/a
- PEG
- n/a
Findings
Every deduction and every plus, with its source. Open a step to read them.
Business
Is the company getting stronger, not just bigger? · 2 findings−8 of −30
- −4Quality of growthNet interest and fee income fell DKK 0.9m to 218.8m in H1 2026, and lending grew only 2.3% (DKK 115m). EPS fell 13% in 2025 and 10% TTM; the rise in pre-tax profit (97.4m vs 84.4m) comes from lower impairments (3.9m vs 14.5m), not the core business.
- −4Efficiency and ROECosts of DKK 126.2m vs core income of 218.8m in H1 give a cost/income of about 58% (Ringkjøbing Landbobank: 26%). ROE is 11.8% TTM vs 13.6–13.8% in 2023–24.
Price
Today's multiples against the company's own history and its peers. · 2 findings−11 of −35
- −10Multiples vs own historyP/B 1.38 vs 0.76–0.99 in 2021–2025 (a record, about 40% above the highest annual level) and P/E 11.9 vs 5.9–10.8. The share price has risen from DKK 808 to 1,205 (+49%) since New Year, while EPS has fallen 10%.
- −1PeersP/B 1.38 at an ROE of about 12% vs Danske Bank at 1.82 at about 14–15%: the discount disappears once you adjust for returns. The 6.6% dividend yield is still high.
Cracks
Cash flow, customers, debt, insiders, guidance and what sits behind the headline numbers. · 3 findings−8 of −35
- −3Concentration in one small economyThe bank has about 80% market share in Greenland, an economy of about 56,000 people that depends on fishing and the block grant. There is no geographical diversification, and net interest income fell 14% y/y in Q3 2025.
- −3Speculative share price and liquidityDR calls the rise 'striking': the share price is driven by speculation about US investment after Trump's statements, not by fundamentals. On average only about 2,400 shares are traded a day (about DKK 2.9m).
- −2Dividend tax for Danish investorsThe bank withholds dividend tax at Sermersooq's total tax rate (about 42%), and Greenland has no general double-taxation agreement. That makes the high dividend yield worth less to a Danish investor.
Plus
Only documented strengths. · 3 findings+5 of +15
- +2Raised guidanceThe 2026 pre-tax profit outlook was raised on 20/7 from DKK 180–205m to 195–220m and maintained at H1.
- +2Capital and credit qualityThe capital ratio is 27.3% vs a solvency need of 10.4%, and impairments were only 0.1% of loans and guarantees in H1 2026.
- +1DividendThe dividend of DKK 80 per share (about DKK 144m) for 2025 is below net profit of DKK 181m.
Caveats
What the score does not capture, or where the data is weak.
Bank: EV, ROIC and FCF are not meaningful (stockanalysis shows P/FCF 2.2 and an FCF margin of 221%, caused by deposit movements); valued on P/B and P/E, and the dividend is measured against net income. No analysts cover the stock (forecast = 404), and it trades very little. The 6.6% effective tax rate in stockanalysis is not explained. Insider trading, the shareholder base (over 2,500 shareholders, mostly local) and rating have not been examined. The exact refund entitlement for Danish investors' Greenlandic dividend tax is unclear in the sources (the bank's site: no general double taxation agreement).
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