Haugesund Sparebank
Haugesund Sparebank provides banking and investment services to individuals and businesses in Norway, primarily generating revenue through interest income from loans and fees from financial services.
Business. Haugesund Sparebank (HGSB.OL) is a bank headquartered in Haugesund, Norway, operating within the Banking & Investment Services industry. The company generates revenue primarily through interest income, consistent with standard banking operations. It is listed on the Oslo Børs under the ticker symbol HGSB.OL. Specific details regarding operating segments or geographic breakdowns are not available.
Analyst recommendations
1 analysts · consensus Sell- EarningsH1 2026 earnings (expected)2026-08-14 · estimated
- EarningsQ3 2026 earnings (expected)2026-11-13 · estimated
At a glance
What drives this business
The watch-list the newsroom runs for this company — derived from its sector path, sharpened layer by layer. Not investment advice.
News & coverage
0Sector rotation
Developing storylines
Analysis
AI analysisOpportunity
Upcoming catalysts
Scheduled public events. Informational only — not investment advice.
- Company
- EarningsH1 2026 earnings (expected)2026-08-14 · estimated
- EarningsQ3 2026 earnings (expected)2026-11-13 · estimated
- Peers
- DividendDividend USD 1.75/sh2026-09-25 · Bank of America (BAC)
- EarningsQ3 2026 earnings (expected)2026-10-13 · estimated · JPMorgan Chase (JPM)
- EarningsQ3 2026 earnings (expected)2026-10-13 · estimated · Citigroup (C)
- Macro
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
Pre-earnings brief
Signals & dispatch
Composite-score breakdown
Synthesis
Haugesund Sparebank (HGSB.OL) is a bank headquartered in Haugesund, Norway, operating within the Banking & Investment Services industry. The company generates revenue primarily through interest income, consistent with standard banking operations. It is listed on the Oslo Børs under the ticker symbol HGSB.OL. Specific details regarding operating segments or geographic breakdowns are not available.
Haugesund Sparebank maintains a market price of 159.0 NOK, with a market capitalization of 835,360,719 NOK. The company's price-to-book ratio is 0.43, indicating that the market values the company at a discount to its book value. The liquidity position is assessed as medium, with a negative net cash position after subtracting total debt. The debt-to-equity ratio of 1.99 suggests a relatively high leverage position, which could pose risks in a rising interest rate environment.
The company's profitability is reflected in a return on equity (ROE) of 2.28% and a return on assets (ROA) of 0.30%. These figures are below the typical benchmarks for the banking industry, indicating that the company is not generating strong returns relative to its equity and asset base. The price-to-earnings ratio of 18.74 suggests that investors are paying a moderate premium for the company's earnings.
Haugesund Sparebank's revenue is concentrated in its core banking operations, with no disclosed segments or geographic diversification provided in the available data. This lack of diversification could expose the company to regional economic downturns or regulatory changes affecting the Norwegian banking sector.
The company's growth trajectory is not clearly defined in the available data, as there are no specific revenue growth projections or historical growth rates provided. The absence of analyst price targets and recommendations further complicates the assessment of the company's future performance.
The risk assessment indicates a low potential for dilution, which is a positive sign for shareholders. However, the company's high leverage and negative net cash position could increase financial risk, particularly in a volatile economic environment. The lack of detailed risk factors and dilution sources in the available data limits the ability to fully assess the company's risk profile.
There are no recent events or filings provided in the available data to indicate any significant changes in the company's operations or financial position. The absence of recent transcripts or filings suggests that the company may not be actively communicating with investors or disclosing material information.
- Haugesund Sparebank is valued at a discount to its book value, with a price-to-book ratio of 0.43.
- The company's return on equity and return on assets are below typical industry benchmarks.
- The company's high debt-to-equity ratio of 1.99 indicates a leveraged capital structure.
- There is no detailed information on revenue concentration or geographic diversification.
- The company's growth trajectory and risk profile are not clearly defined in the available data.
Bull / Bear case
Generated · model-assistedNet income surged 35.5% year-over-year to 154.8 million NOK, demonstrating strong recent profitability momentum.
The stock trades at a significant discount with a price-to-book ratio of 0.43, implying deep undervaluation.
Total assets grew 5.3% year-over-year, reflecting steady balance sheet expansion despite negative long-term trends.
Free cash flow increased 38.4% year-over-year, highlighting improved cash generation capabilities in the latest period.
Return on equity of 2.28% falls in the bottom quartile of the bank cohort, signaling poor capital efficiency.
Debt-to-equity ratio of 1.99 is in the bottom quartile, indicating significantly higher leverage than peers.
Revenue CAGR is negative 1.7% over four years, suggesting a long-term decline in top-line growth.
Cash conversion ratio of 0.39 is below the cohort median of 1.14, indicating weaker cash generation quality.
In focus — financials by report
Revenue kr 104.5M, +14,7% YoY; Net income +16,9% YoY.
- ▍Revenue kr 104.5M, +14,7% YoY
- ▍Net income +16,9% YoY
- ▍Free cash flow −5,3% YoY
- ▍Net margin 28.7%
Revenue kr 94.2M, +3,3% YoY; Net income −9,2% YoY.
- ▍Revenue kr 94.2M, +3,3% YoY
- ▍Net income −9,2% YoY
- ▍Free cash flow −10,1% YoY
- ▍Net margin 45.0%
Revenue kr 89.1M, +5,3% YoY; Net income +62,8% YoY.
- ▍Revenue kr 89.1M, +5,3% YoY
- ▍Net income +62,8% YoY
- ▍Free cash flow +59,8% YoY
- ▍Net margin 75.7%
Revenue kr 89.3M, +1,6% YoY; Net income +9,2% YoY.
- ▍Revenue kr 89.3M, +1,6% YoY
- ▍Net income +9,2% YoY
- ▍Free cash flow +7,8% YoY
- ▍Net margin 54.5%
Revenue kr 91.1M; Net margin 28.1%.
- ▍Revenue kr 91.1M
- ▍Net margin 28.1%
Revenue kr 91.2M; Net margin 51.2%.
- ▍Revenue kr 91.2M
- ▍Net margin 51.2%
Revenue kr 84.6M; Net margin 48.9%.
- ▍Revenue kr 84.6M
- ▍Net margin 48.9%
Revenue kr 87.9M; Net margin 50.7%.
- ▍Revenue kr 87.9M
- ▍Net margin 50.7%
Revenue kr 377.0M, +6,2% YoY; Net income +19,1% YoY.
- ▍Revenue kr 377.0M, +6,2% YoY
- ▍Net income +19,1% YoY
- ▍Free cash flow +9,0% YoY
- ▍Net margin 50.1%
Revenue kr 355.1M, +6,9% YoY; Net income +2,4% YoY.
- ▍Revenue kr 355.1M, +6,9% YoY
- ▍Net income +2,4% YoY
- ▍Free cash flow −9,3% YoY
- ▍Net margin 44.7%
Valuation TTM
Revenue by segment
Business relationships
Supply chain
Peer comparison
Market position
Stress test
Predictor forecast
| Metric | Our forecast | Guidance | Consensus |
|---|---|---|---|
| EPS | —no estimate | —no estimate | 10,25 |
| Revenue | —no estimate | —no estimate | 510,4M NOK |
| Operating income | —no estimate | —no estimate | 248,2M NOK |
Options
Short squeeze
Earnings-call key lines
Consensus distribution
sell-side coverageEstimate revisions
consensus EPS · 26-week trendSell-side observations
Themes
ESG
Risk factors
- Net cash is negative after subtracting total debt.
Benchmarks vs cohort
Corporate actions / M&A
FX exposure
Comparable transactions
Derivatives & instruments
Actions
Ask Handelsavisen
- Market data
- Market data cache
- Issuer disclosures
- Public news
- Earnings transcripts
- Consensus estimates
- ESG data
- Ev To Operating Cash Flowenterprise_value / operating_cash_flow
- Return On Equitynet_income / total_equity
- Price To Earningsmarket_price / (net_income / shares_outstanding_diluted)
- Price To Bookmarket_price / (adjusted_book_value / shares_outstanding_diluted)
- Dilution Ratio(shares_outstanding_diluted - shares_outstanding_basic) / shares_outstanding_basic
- Market Priceinput from market-data provider (delayed close or quote-shim mid)
- Haugesund Sparebank Market data — financials · 2026-05-28
- Haugesund Sparebank Market data — analyst estimates · 2026-05-28
Ownership & reference
Leadership
- Bente Haraldson SyreCEO
Insider activity
Short positioning
Geographic breakdown
Intel & risk
Evidence & claims
From filings & derived data- Return on assets (FY 2024-12-31): 1.0%Derived (calculated)
- Net margin (FY 2024-12-31): 37.1%Derived (calculated)
- Return on equity (FY 2024-12-31): 7.6%Derived (calculated)
- Current ratio (FY 2024-12-31): 1.47xDerived (calculated)
- Debt-to-equity (FY 2024-12-31): 6.70xDerived (calculated)
- Total equity & liabilities (annual): NOK 16.06BBRREG filing
- Current assets (annual): NOK 14.26BBRREG filing
- Shareholders' equity (annual): NOK 2.09BBRREG filing
- Pre-tax income (annual): NOK 199.89MBRREG filing
- Total assets (annual): NOK 16.06BBRREG filing
- Finance expense (annual): NOK 18.65MBRREG filing
- Total operating expenses (annual): NOK 208.84MBRREG filing
- Revenue (annual): NOK 427.39MBRREG filing
- Total liabilities (annual): NOK 13.98BBRREG filing
- Non current liabilities (annual): NOK 4.29BBRREG filing
- Net income (annual): NOK 158.58MBRREG filing
- Non current assets (annual): NOK 1.81BBRREG filing
- Operating income (annual): NOK 218.55MBRREG filing
- Current liabilities (annual): NOK 9.69BBRREG filing