SpareBank 1 Nord-Norge (OSL:NONG) Cyclically Adjusted PB Ratio: (As of Sep. 21, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
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Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

OSL:NONG SpareBank 1 Nord-Norge OSL:NONG
68 GF Score
Price kr172.22
GF Value kr127.23
Valuation Significantly Overvalued
! 7 Warning Signs
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What is SpareBank 1 Nord-Norge Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


SpareBank 1 Nord-Norge  (OSL:NONG) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


SpareBank 1 Nord-Norge Cyclically Adjusted PB Ratio Related Terms


SpareBank 1 Nord-Norge Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for SpareBank 1 Nord-Norge's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

SpareBank 1 Nord-Norge Cyclically Adjusted PB Ratio Chart

SpareBank 1 Nord-Norge Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.87 0.69 0.69 0.78 0.90

SpareBank 1 Nord-Norge Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.92 0.87 0.93 0.93 0.91

SpareBank 1 Nord-Norge Cyclically Adjusted PB Ratio Competitor Comparison

For the Banks - Regional subindustry, SpareBank 1 Nord-Norge's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


SpareBank 1 Nord-Norge Cyclically Adjusted PB Ratio vs Banks Industry

For the Banks industry and Financial Services sector, SpareBank 1 Nord-Norge's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where SpareBank 1 Nord-Norge's Cyclically Adjusted PB Ratio falls into.


OSL:NONG
68GF Score
SpareBank 1 Nord-Norge OSL:NONG
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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SpareBank 1 Nord-Norge Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

SpareBank 1 Nord-Norge's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, SpareBank 1 Nord-Norge's adjusted Book Value per Share data for the three months ended in Jun. 2026 was:

Adj_Book=Book Value per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=189.585/141.6200*141.6200
=189.585

Current CPI (Jun. 2026) = 141.6200.

SpareBank 1 Nord-Norge Quarterly Data

Book Value per Share CPI Adj_Book
201609 106.685 104.200 144.997
201612 109.673 104.400 148.773
201703 105.341 105.000 142.080
201706 108.877 105.800 145.739
201709 112.271 105.900 150.140
201712 117.221 106.100 156.464
201803 111.036 107.300 146.551
201806 115.369 108.500 150.586
201809 119.273 109.500 154.260
201812 122.293 109.800 157.733
201903 122.171 110.400 156.720
201906 127.689 110.600 163.502
201909 131.414 111.100 167.514
201912 133.389 111.300 169.726
202003 128.596 111.200 163.775
202006 133.476 112.100 168.625
202009 138.287 112.900 173.465
202012 141.855 112.900 177.941
202103 143.954 114.600 177.895
202106 149.741 115.300 183.923
202109 155.189 117.500 187.046
202112 158.101 118.900 188.312
202203 147.802 119.800 174.722
202206 151.338 122.600 174.816
202209 148.858 125.600 167.845
202212 152.623 125.900 171.680
202303 141.686 127.600 157.254
202306 147.363 130.400 160.043
202309 152.015 129.800 165.858
202312 158.768 131.900 170.468
202403 150.182 132.600 160.398
202406 157.294 133.800 166.487
202409 170.153 133.700 180.232
202412 178.181 134.800 187.196
202503 185.840 136.100 193.377
202506 176.159 137.800 181.042
202509 185.302 138.500 189.476
202512 193.121 139.140 196.563
202603 181.348 141.060 182.068
202606 189.585 141.620 189.585

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is SpareBank 1 Nord-Norge (OSL:NONG) Overvalued in 2026?

Based on GuruFocus' analysis, SpareBank 1 Nord-Norge stock appears to be overvalued. The current stock price of kr172.22 is trading 35.4% above its estimated GF Value™ of kr127.23. GuruFocus considers SpareBank 1 Nord-Norge to be Significantly Overvalued.

Key valuation signals for OSL:NONG:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: kr127.23 vs. price of kr172.22 (35.4% above fair value)
  • GF Score™: 68/100 with 7 warning signs

No single metric tells the full story. See the OSL:NONG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


SpareBank 1 Nord-Norge Business Description

Other Exchanges NONGo:UK0J1N:UK93S:Germany
Address Storgata 65, PO Box 6800, Tromso, NOR, 9008
SpareBank 1 Nord-Norge is a Norwegian banking services provider. Apart from general banking solutions, its areas of expertise include estate agency, asset financing, and accounting operations. The company operates with primary segments, namely the retail market and the corporate market. In addition, the subsidiary companies activities, such as accounting services, real estate brokerage, and leasing/sale-leaseback financing, are considered. The Retail Banking segment serves individual customers through the provision of retail banking products such as loans, deposits, cards, and insurance. The Corporate Banking segment focuses purely on corporate customers.
68GF Score

Get the complete analysis for OSL:NONG

Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

kr172.22
Price
kr127.23
GF Value