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    Regional banks
Melhus Sparebank

Melhus Sparebank

183.50
NOK
-1.50
(-0.81%)
47.48EPS
3.90P/E
512.77MMarket Cap
Nov 06Next Earn
Melhus Sparebank
OSL:MELG
(Euronext Oslo)

Recent

price

183.50

P/E

ratio

3.90

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
NOK
121.89
124.85
162.64
91.06
110.94
100
82.21
69.31
71.51
79.6
76.18
83.27
93.96
123.3
123.95
125.74
122.01
Revenue per Share
37.25
36.24
62.94
31.48
40.86
30.19
35.96
28.51
29.65
35.15
31.77
37.91
36.24
48.75
50.25
50.48
47.48
Basic EPS, GAAP
128.55
-110.51
102.35
-469.63
-267.48
-205.71
-297.93
-56.98
-100.21
-80.6
-64.12
-134.3
46.84
87.73
43.55
67.5
204.43
Free Cash Flow per Basic Share
10.12
11.08
12.05
5.81
8.19
8.67
5.61
7.06
8.5
9
10
7
10.5
11
12.5
13.5
- -
Dividend per Share
394.67
419.72
437.26
310.08
347.65
369.99
340.17
334.02
355.38
397.04
402.82
433.24
468.61
532.39
562.98
613.44
618.97
Book Value per Share
389.06
414.93
433.31
308.46
346.49
368.59
339.01
332.98
354.56
396.72
402.72
433.23
466.2
530.47
561.55
612.5
618.27
Tangible Book Value per Share
1
1
1
2
2
2
2
3
3
3
3
3
3
3
3
3
3
Basic Weighted Avg Shares
101
104
135
144
176
158
190
192
199
221
212
231
261
342
344
349
338
Sales/Revenue/Turnover
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Operating Margin (%)
4
3
5
3
3
4
4
3
3
5
4
9
6
10
6
8
9
Depreciation Expense
31
30
52
50
65
48
83
79
82
98
88
105
101
135
140
140
132
Net Income, GAAP
26.2
27.7
17.77
24.55
25.97
26.83
18.93
19.76
22.31
22.11
20.21
20.93
19.66
23.54
22.38
21.21
21.24
Effective Tax Rate (%)
30.56
29.02
38.7
34.57
36.83
30.19
43.74
41.13
41.46
44.16
41.7
45.52
38.57
39.54
40.54
40.15
38.91
Profit Margin (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Working Capital
110
1,037
1,471
1,658
1,790
2,290
2,498
2,102
2,220
2,487
2,265
2,561
2,363
2,317
2,282
2,532
2,399
LT Debt
328
348
363
491
551
586
804
927
987
1,102
1,118
1,203
1,301
1,478
1,563
1,703
1,716
Total Equity
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Invested Capital (%)
7.28
3.3
3.25
2.5
2.88
1.83
2.55
2.5
2.64
2.87
2.53
2.94
2.71
3.63
3.65
3.47
3.2
Return on Capital (%)
9.82
8.9
14.69
11.68
12.42
8.41
12.12
9.23
8.6
9.34
7.94
9.07
8.04
9.74
9.18
8.58
7.95
Return on Common Equity (%)

Capital Structure

NOK

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
- -
- -
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
3
3
3
Market Capitalization
558
520
513

Working Capital

NOK

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
- -
- -
- -
Cash, Cash Equivalents & STI
4
8
5
Accounts Receivable, Net
- -
- -
- -
Inventories
- -
- -
- -
Total Current Liabilities
- -
- -
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

NOK

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
11.61%
8.81%
8.96%
Free Cash Flow
13.68%
13.3%
55.01%
Net Income, GAAP
13.5%
10.59%
0.46%
Sales/Revenue/Turnover
8.67%
11.07%
1.44%
Total Cash Common Dividend
12.92%
9.28%
8%

Quarterly Revenue

NOK

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
78
92
83
92
344
2025
82
98
81
88
349
2026
78
92
- -
- -
- -

Quarterly Earnings Per Share

NOK

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
9.08
15.28
10.51
15.39
50.25
2025
10.26
17.33
10.26
12.63
50.48
2026
9.78
14.81
- -
- -
- -

Quarterly Dividends Per Share

NOK

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
12.5
2025
- -
- -
- -
- -
13.5
2026
- -
- -
- -
- -
- -
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Business
Melhus Sparebank operates as a regional Norwegian savings bank focused on providing comprehensive banking and financial services to private individuals, businesses, agriculture customers, and small to medium-sized enterprises primarily in the southern Trøndelag region, including Melhus Municipality and nearby areas such as Trondheim. Founded in 1840 and headquartered in Melhus, Norway, the bank offers deposit products including standard bank accounts, Boligsparing for Ungdom youth housing savings accounts, mutual funds, and retirement savings accounts; lending solutions encompassing car loans, mortgage loans, motorcycle loans, motorhome loans, ATV loans, consumer loans, and leasing services; insurance coverage for vehicles such as electric scooters, motorcycles, mopeds, boats, caravans, motorhomes, ATVs, tractors, snowmobiles, trailers, and veteran cars, as well as house and belongings policies covering household items, travel, cottages, valuable items, drones, online security, youth packages, and Oak Plus, life and health insurance for children, disabilities, critical illness, and accidents, plus pet insurance for dogs, cats, and horses; and additional services like credit and debit cards, payment solutions, online and mobile banking, real estate brokerage, and personalized financial advisory services through its Eika alliance membership, which facilitates access to asset management, insurance, and mortgage funding via Eika Boligkreditt. The bank maintains operations through a network of local advisors and emphasizes growth in both retail and corporate lending, with 31% of retail mortgages transferred off-balance sheet to Eika Boligkreditt as of mid-2025 for cost-efficient funding. Recent developments include confirmation of its long-term A- credit rating by Nordic Credit Rating in September 2025, reflecting strong capitalization with CET1 ratio at 20.2% and Tier 1 at 22.1% as of June 2025 bolstered by CRR3 regulatory changes; an additional 4% stake acquisition in Melhus Regnskap AS, enhancing its accounting and business advisory capabilities; multiple interest rate adjustments on loans and deposits throughout 2025 in response to Norges Bank's policy normalization; and robust 2024 financial performance with after-tax profit of NOK 139.5 million, up from NOK 135.4 million in 2023, alongside projected loan growth of 5% in 2025 driven by increased retail focus and sales efforts in Trondheim.