# Ringkjoebing Landbobank A/S (RILBA.CO)

Canonical: https://gigainvestors.com/s/RILBA.CO

Analysis as of: 2026-10-16T07:36:56.657Z. Financial observations: FY2015–FY2025.

Listing currency: DKK. Reporting currency: DKK.

## Verdict

A wonderful business

Quality tests for Buy: pass (profit record: pass; earnings resilience is evidence only). Published buy qualification: no.

Share price: DKK 1,785.00 per share; close as of 2026-10-15.

## Checklist

### understandable: pass

- Financial history: 10 years

- Profitable years in the last ten: 10

- Required profitable years: 9

- Return on common equity variation (informational): 0.24×

Chart: Net income; fiscal year observations.

- FY2016: DKK 539M

- FY2017: DKK 589M

- FY2018: DKK 663M

- FY2019: DKK 978M

- FY2020: DKK 920M

- FY2021: DKK 1.2B

- FY2022: DKK 1.5B

- FY2023: DKK 2.2B

- FY2024: DKK 2.3B

- FY2025: DKK 2.3B

### moat: pass

- Tangible common book per share

- Parent-total proxy for preferred equity and common earnings

- Bank / P&C ROTE, median of available years: 15.7%

- Required median return: 12.0%

- Return uses tangible common equity: Yes

- Bank ROTE, second-lowest year: 12.9%

- Years with reported combined ratio: 0

Chart: Return on tangible common equity; fiscal year observations.

- FY2016: 15.2%

- FY2017: 15.4%

- FY2018: 10.8%

- FY2019: 14.9%

- FY2020: 12.9%

- FY2021: 16.0%

- FY2022: 18.1%

- FY2023: 22.8%

- FY2024: 22.9%

- FY2025: 21.8%

### economics: pass

- Tangible common book per share

- Parent-total proxy for preferred equity and common earnings

- Book value per share + reinvested dividends, annualized return: 15.1%

- Book return interval: 10 years

- Starting book value per share: DKK 144.98

- Ending book value per share: DKK 425.27

Chart: Annual book + dividend return; fiscal year observations.

- FY2016: 14.9%

- FY2017: 11.0%

- FY2018: 25.8%

- FY2019: 14.2%

- FY2020: 13.9%

- FY2021: 13.2%

- FY2022: 11.5%

- FY2023: 18.5%

- FY2024: 15.3%

- FY2025: 13.4%

### management: pass

- Tangible common book per share

- Parent-total proxy for preferred equity and common earnings

- Diluted shares, 10-year annual growth: 0.9%

- Diluted shares, 5-year annual growth: -3.0%

- Share growth excluding flagged crisis recapitalisations: 0.9%

- Five-year share growth excluding flagged crisis recapitalisations: -3.0%

- Flagged crisis recapitalisations: 0

- Book created / earnings retained after dividends and buybacks: 1.33×

- Book value created per share: DKK 280.30

- Earnings retained per share after dividends and buybacks: DKK 211.15

Chart: Shares (first year = 100); fiscal year observations.

- FY2015: 100

- FY2016: 97

- FY2017: 98

- FY2018: 131

- FY2019: 128

- FY2020: 128

- FY2021: 125

- FY2022: 123

- FY2023: 121

- FY2024: 115

- FY2025: 110

### accounting: pass

- Financial accounting warning count: 0

- Known restatement years: 0

## Holders

## Price story

Up 86% since Oct 2023 · "Ringkjøbing Landbobank (CPSE:RILBA) Lifts Guidance With Valuation Still Open To Debate" (finance.yahoo.com, Aug 2026) · net income +0.5%

Story as of 2026-10-16T10:00:08.367Z; price observation 2026-10-15.

- 2026-08-13: Ringkjøbing Landbobank (CPSE:RILBA) Lifts Guidance With Valuation Still Open To Debate ([finance.yahoo.com](https://finance.yahoo.com/markets/stocks/articles/ringkj-bing-landbobank-cpse-rilba-121214540.html))

### Net income · FY2025

net income +0.5%; source https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/; observed 2026-10-16.

- FY2016: DKK 539M 

- FY2017: DKK 589M 

- FY2018: DKK 663M 

- FY2019: DKK 978M 

- FY2020: DKK 920M 

- FY2021: DKK 1.2B 

- FY2022: DKK 1.5B 

- FY2023: DKK 2.2B 

- FY2024: DKK 2.3B 

- FY2025: DKK 2.3B 

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in regional banking; annual sales are DKK 5 billion.

- Source: https://eodhd.com/api/fundamentals/RILBA.CO.json#2025-12-31 (filed 2026-10-16T07:36:56.657Z); FY2025: revenue 4996785000.

### Why customers stay

It earns 15.7% on shareholders’ money, excluding intangible assets.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:36:56.657Z); 10-year return on tangible equity observations [[2016,0.15177225356609853],[2017,0.154218665425875],[2018,0.10829654276426014],[2019,0.14912489836186923],[2020,0.12933612917497125],[2021,0.16047843857983832],[2022,0.18116452338510391],[2023,0.22833056274878713],[2024,0.22913100259340677],[2025,0.21835312839346416]]; median 0.15734855200285666. ROIC follows the displayed moat series; financial companies use return on tangible equity.

### Where the cash goes

Paid dividends in 2 of 2 years; bought back DKK 1.6 billion of shares.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:36:56.657Z); Dividend observations: [[2016,137256000],[2017,160869000]]. Zero only counted when supported by a complete cash-flow statement.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:36:56.657Z); FY2025: cash repurchases 1625482340.8333335 DKK.

### Are managers owners

Insiders own 0.6% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); RILBA.CO SharesStats.PercentInsiders = 0.5579999999999999 percentage points; cache date 2026-10-16.

### What the price says

The price is 8.9 times annual sales.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:36:56.657Z); Closing price 1785 DKK; reporting-to-trading FX 1; FY2025 annual sales per share 200.57026703846884; price multiple 8.89962418835311. FY2023 cash earnings/share 2.4202414179393714. Closing-price date 2026-10-15.

## Monthly share-price history (DKK per share)

- 2016-10: DKK 286.80 per share

- 2016-11: DKK 277.00 per share

- 2016-12: DKK 292.60 per share

- 2017-01: DKK 300.20 per share

- 2017-02: DKK 289.40 per share

- 2017-03: DKK 309.00 per share

- 2017-04: DKK 329.60 per share

- 2017-05: DKK 338.00 per share

- 2017-06: DKK 325.00 per share

- 2017-07: DKK 330.50 per share

- 2017-08: DKK 329.50 per share

- 2017-09: DKK 325.00 per share

- 2017-10: DKK 319.00 per share

- 2017-11: DKK 310.00 per share

- 2017-12: DKK 321.50 per share

- 2018-01: DKK 330.00 per share

- 2018-02: DKK 335.00 per share

- 2018-03: DKK 332.00 per share

- 2018-04: DKK 372.50 per share

- 2018-05: DKK 368.50 per share

- 2018-06: DKK 357.00 per share

- 2018-07: DKK 360.00 per share

- 2018-08: DKK 335.50 per share

- 2018-09: DKK 340.00 per share

- 2018-10: DKK 335.00 per share

- 2018-11: DKK 360.00 per share

- 2018-12: DKK 340.00 per share

- 2019-01: DKK 348.50 per share

- 2019-02: DKK 389.00 per share

- 2019-03: DKK 409.00 per share

- 2019-04: DKK 430.00 per share

- 2019-05: DKK 442.00 per share

- 2019-06: DKK 426.00 per share

- 2019-07: DKK 460.00 per share

- 2019-08: DKK 406.50 per share

- 2019-09: DKK 430.00 per share

- 2019-10: DKK 462.50 per share

- 2019-11: DKK 491.00 per share

- 2019-12: DKK 514.00 per share

- 2020-01: DKK 501.00 per share

- 2020-02: DKK 448.00 per share

- 2020-03: DKK 382.00 per share

- 2020-04: DKK 426.00 per share

- 2020-05: DKK 466.00 per share

- 2020-06: DKK 468.50 per share

- 2020-07: DKK 469.50 per share

- 2020-08: DKK 471.00 per share

- 2020-09: DKK 482.00 per share

- 2020-10: DKK 486.50 per share

- 2020-11: DKK 541.00 per share

- 2020-12: DKK 554.00 per share

- 2021-01: DKK 539.00 per share

- 2021-02: DKK 604.00 per share

- 2021-03: DKK 620.00 per share

- 2021-04: DKK 630.00 per share

- 2021-05: DKK 615.00 per share

- 2021-06: DKK 636.00 per share

- 2021-07: DKK 712.00 per share

- 2021-08: DKK 747.00 per share

- 2021-09: DKK 741.00 per share

- 2021-10: DKK 817.00 per share

- 2021-11: DKK 867.00 per share

- 2021-12: DKK 878.00 per share

- 2022-01: DKK 870.00 per share

- 2022-02: DKK 827.00 per share

- 2022-03: DKK 859.00 per share

- 2022-04: DKK 872.00 per share

- 2022-05: DKK 844.00 per share

- 2022-06: DKK 773.00 per share

- 2022-07: DKK 816.00 per share

- 2022-08: DKK 792.00 per share

- 2022-09: DKK 807.00 per share

- 2022-10: DKK 820.00 per share

- 2022-11: DKK 889.00 per share

- 2022-12: DKK 948.00 per share

- 2023-01: DKK 993.00 per share

- 2023-02: DKK 1,112.00 per share

- 2023-03: DKK 967.00 per share

- 2023-04: DKK 949.50 per share

- 2023-05: DKK 928.00 per share

- 2023-06: DKK 977.50 per share

- 2023-07: DKK 964.00 per share

- 2023-08: DKK 1,019.00 per share

- 2023-09: DKK 1,021.00 per share

- 2023-10: DKK 960.50 per share

- 2023-11: DKK 950.00 per share

- 2023-12: DKK 991.50 per share

- 2024-01: DKK 1,114.00 per share

- 2024-02: DKK 1,182.00 per share

- 2024-03: DKK 1,209.00 per share

- 2024-04: DKK 1,178.00 per share

- 2024-05: DKK 1,230.00 per share

- 2024-06: DKK 1,166.00 per share

- 2024-07: DKK 1,222.00 per share

- 2024-08: DKK 1,106.00 per share

- 2024-09: DKK 1,056.00 per share

- 2024-10: DKK 1,129.00 per share

- 2024-11: DKK 1,150.00 per share

- 2024-12: DKK 1,204.00 per share

- 2025-01: DKK 1,175.00 per share

- 2025-02: DKK 1,206.00 per share

- 2025-03: DKK 1,227.00 per share

- 2025-04: DKK 1,257.00 per share

- 2025-05: DKK 1,329.00 per share

- 2025-06: DKK 1,388.00 per share

- 2025-07: DKK 1,443.00 per share

- 2025-08: DKK 1,442.00 per share

- 2025-09: DKK 1,474.00 per share

- 2025-10: DKK 1,463.00 per share

- 2025-11: DKK 1,428.00 per share

- 2025-12: DKK 1,538.00 per share

- 2026-01: DKK 1,590.00 per share

- 2026-02: DKK 1,653.00 per share

- 2026-03: DKK 1,539.00 per share

- 2026-04: DKK 1,591.00 per share

- 2026-05: DKK 1,576.00 per share

- 2026-06: DKK 1,550.00 per share

- 2026-07: DKK 1,742.00 per share

- 2026-08: DKK 1,797.00 per share

- 2026-09: DKK 1,832.00 per share

- 2026-10: DKK 1,790.00 per share

## Annual estimated value (DKK per share)

- FY2016: low DKK 246.39 per share, central DKK 307.99 per share, high DKK 410.65 per share

- FY2017: low DKK 262.34 per share, central DKK 327.93 per share, high DKK 437.24 per share

- FY2018: low DKK 293.15 per share, central DKK 366.44 per share, high DKK 488.59 per share

- FY2019: low DKK 367.00 per share, central DKK 458.75 per share, high DKK 611.66 per share

- FY2020: low DKK 399.97 per share, central DKK 499.97 per share, high DKK 666.62 per share

- FY2021: low DKK 441.23 per share, central DKK 551.54 per share, high DKK 735.39 per share

- FY2022: low DKK 509.98 per share, central DKK 637.48 per share, high DKK 849.97 per share

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

Prior published observations retained from 2026-10-15T06:42:39.614Z where newer inputs omit a numeric field or fiscal period.

## Sources

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.

## Reported holder observations