Ringkjøbing Landbobank A/S (RILBA.CO) | Investment Case

1. Company Snapshot

1.a. Company Description

Ringkjøbing Landbobank A/S provides various banking products and services in Denmark.It offers various deposit products; loans and guarantees; mortgage credit commission; securities trading; asset management; custody accounts; foreign exchange; and payment handling services.Ringkjøbing Landbobank A/S was founded in 1886 and is headquartered in Ringkøbing, Denmark.

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1.b. Last Insights on RILBA

Ringkjøbing Landbobank's recent performance was driven by its DKK 1,000 million share buyback program, completed in January 2026, and a new DKK 500 million buyback authorization. The bank's capital allocation priorities and active approach to capital structure have drawn investor attention. Its 2025 annual report showed a net profit of DKK 2,313 million, at the top of expectations. The bank aims for an annual base distribution of 40% of profit, effective from 2026. A new share buyback program, running until May 8, 2026, is underway.

1.c. Company Highlights

Last Price	1612
Change Percentage	-0.62%
Open	1622
Previous Close	1622
Market Cap ( Millions)	38756
Volume	14612
Year High	1708
Year Low	1137
M A 50	1590.24
M A 200	1501.37

FCF Yield	0.00%
Dividend Yield	0.74%
ROE	29.40%
Debt / Equity	108.03%
Net Debt / EBIDTA	290.90%
Price To Book	3.39
Price Earnings Ratio	11.82
Price To FCF	0
Price To sales	5.12
EV / EBITDA	11.93

2. Transcript Summary

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3. NewsRoom

Share buyback programme – week 11

Mar -16

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Share buyback programme – week 10

Mar -09

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Articles of Association for Ringkjøbing Landbobank A/S

Mar -05

Source:

Minutes of the annual general meeting held on 4 March 2026

Mar -04

Source:

Assessing Ringkjøbing Landbobank (CPSE:RILBA) Valuation After A Strong 1‑Year Share Price Run

Mar -02

Source:

Share buyback programme – week 9

Mar -02

Source:

Share buyback programme – week 8

Feb -23

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Share buyback programme – week 7

Feb -16

Source:

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (1.00%)

6. Segments

Banking and Related Activities

Expected Growth: 1.0%

Ringkjøbing Landbobank A/S's 1.0% growth in Banking and Related Activities is driven by increasing demand for mortgage lending, steady growth in deposits, and a stable interest rate environment. Additionally, the bank's focus on digitalization and cost optimization efforts have improved operational efficiency, contributing to the moderate growth.

7. Detailed Products

Personal Banking

Ringkjøbing Landbobank A/S offers a range of personal banking services, including current and savings accounts, credit cards, and personal loans.

Business Banking

The bank provides business banking services, including business accounts, loans, and credit facilities, to support the growth and development of businesses.

Mortgage Loans

Ringkjøbing Landbobank A/S offers mortgage loans for individuals and businesses to purchase or refinance properties.

Investment Services

The bank provides investment services, including investment advice, portfolio management, and brokerage services.

Insurance Services

Ringkjøbing Landbobank A/S offers a range of insurance products, including life insurance, pension insurance, and non-life insurance.

Online Banking

The bank provides online banking services, allowing customers to manage their accounts, pay bills, and transfer funds online.

8. Ringkjøbing Landbobank A/S's Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Ringkjøbing Landbobank A/S is moderate due to the presence of alternative banking services and digital payment platforms.

Bargaining Power Of Customers

The bargaining power of customers is low for Ringkjøbing Landbobank A/S as customers have limited negotiating power and the bank has a strong market presence.

Bargaining Power Of Suppliers

The bargaining power of suppliers is moderate for Ringkjøbing Landbobank A/S as the bank relies on a few large suppliers for its operations, but has some negotiating power due to its size.

Threat Of New Entrants

The threat of new entrants is low for Ringkjøbing Landbobank A/S due to the high barriers to entry in the banking industry, including regulatory requirements and capital requirements.

Intensity Of Rivalry

The intensity of rivalry is high for Ringkjøbing Landbobank A/S due to the presence of several established banks and financial institutions in the market, leading to intense competition.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

	Value
Debt Weight	53.10%
Debt Cost	6.75%
Equity Weight	46.90%
Equity Cost	6.75%
WACC	6.75%
Leverage	113.21%

11. Quality Control: Ringkjøbing Landbobank A/S passed 4 out of 9 key points

Strong Liquidity

Low Deb

Strong Interest Coverage

Healthy Cash Flow

Operating Efficiency

Strong Return On Equity

Consistent Revenue Growth

Consistent Operating Cash Flow Growth

Margin Improvement

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

AIB

A-Score: 6.6/10

Value: 5.1

Growth: 6.6

Quality: 7.7

Yield: 6.9

Momentum: 9.5

Volatility: 4.0

1-Year Total Return ->

BCP

A-Score: 6.5/10

Value: 6.9

Growth: 6.7

Quality: 6.9

Yield: 3.1

Momentum: 9.5

Volatility: 5.7

1-Year Total Return ->

Cembra Money Bank

A-Score: 6.3/10

Value: 3.4

Growth: 4.0

Quality: 6.1

Yield: 8.1

Momentum: 7.0

Volatility: 9.3

1-Year Total Return ->

Avanza Bank

A-Score: 6.3/10

Value: 2.8

Growth: 7.2

Quality: 8.6

Yield: 6.2

Momentum: 8.5

Volatility: 4.3

1-Year Total Return ->

Jyske Bank

A-Score: 6.2/10

Value: 6.2

Growth: 5.6

Quality: 4.8

Yield: 2.5

Momentum: 9.5

Volatility: 8.7

1-Year Total Return ->

Ringkjøbing Landbobank

A-Score: 5.6/10

Value: 3.0

Growth: 6.0

Quality: 6.5

Yield: 1.2

Momentum: 8.0

Volatility: 9.0

1-Year Total Return ->

Peers Metrics

12.e Scoring ^Insights

12.f DCF ^BETA

Parameters

Short Term Growth

10.00%

Short term Time

10.0

Long-Term Growth

2.00%

WACC

6.75%

Ringkjøbing Landbobank A/S - DK0060854669

1. Company Snapshot

1.a. Company Description

1.b. Last Insights on RILBA

1.c. Company Highlights

Expensive

Lower Yield

Stable Momentum

Earnings Beats

Average Growth

Medium Volatility

Revenues Beats

Better Quality

Higher Growth

Fairly Valued

Strong Momentum

Average Quality

Revenues Miss

2. Transcript Summary

3. NewsRoom

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (1.00%)

6. Segments

Banking and Related Activities

Expected Growth: 1.0%

7. Detailed Products

Personal Banking

Business Banking

Mortgage Loans

Investment Services

Insurance Services

Online Banking

8. Ringkjøbing Landbobank A/S's Porter Forces

Forces Ranking

Threat Of Substitutes

Bargaining Power Of Customers

Bargaining Power Of Suppliers

Threat Of New Entrants

Intensity Of Rivalry

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

11. Quality Control: Ringkjøbing Landbobank A/S passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

-270.46$

Current Price

1612$

Potential

-116.78%

Expected Cash-Flows

12.e Scoring ^Insights

12.f DCF ^BETA