Valuation Result

Final Brand Value

Formue — Financial Services

Valuation date: 10/29/2026

Total Brand Value

NOK 158.7M

This result turns the selected legal, brand, benchmark and discount-rate assumptions into one reviewable brand value estimate.

Brand Strength

73/100

Royalty Rate

1.5%

Discount Rate

10.0%

Benchmark recommendation not unlocked for this result

Sensitivity snapshot

Quick decision check for discount rate, royalty rate and long-term growth.

Variable

Lower input

Current

Higher input

WACC (Discount Rate)

10.0%

-1.0%

NOK 179.1M

10.0%

NOK 158.7M

+1.0%

NOK 142.6M

Royalty Rate

1.5%

-0.5%

NOK 104.3M

1.5%

NOK 158.7M

+0.5%

NOK 213.0M

Terminal Growth

1.5%

-0.5%

NOK 152.3M

1.5%

NOK 158.7M

+0.5%

NOK 165.9M

Brand Strength changes can also be explored to show their potential effect on brand value. Contact info@brandvaluator.se if you want to explore this for strategy, planning and budgeting.

Revenue Base

NOK 1.1B

Legal Protection

75/100

Long-term Growth

1.5%

Recommendation basis

Brand-strength range • Pro

This reference case derives its royalty rate by applying the brand-strength score to a documented industry royalty ceiling.

This valuation uses benchmark support informed by external market references and curated internal calibration.

Use this section to confirm whether the result reflects unlocked benchmark guidance or a non-benchmark method.

Forecast profile

5 years explicit forecast

High growth: 2.0%

Base growth: 2.0%

Long-term growth: 1.5%

Value build

Value for planning period: NOK 52.2M

Terminal value: NOK 106.5M

How the valuation is built

Valuation Build

Royalty Relief DCF

Year	Revenue	Royalty	After Tax	PV
Y1	NOK 1,097,098,740	NOK 16,017,642	NOK 12,653,937	NOK 12,065,055
Y2	NOK 1,119,040,715	NOK 16,337,994	NOK 12,907,016	NOK 11,187,597
Y3	NOK 1,141,421,529	NOK 16,664,754	NOK 13,165,156	NOK 10,373,953
Y4	NOK 1,164,249,960	NOK 16,998,049	NOK 13,428,459	NOK 9,619,484
Y5	NOK 1,187,534,959	NOK 17,338,010	NOK 13,697,028	NOK 8,919,885
Explicit PV (Y1–Y5)				NOK 52,165,975
Terminal Value (undiscounted)				NOK 163,558,631
Terminal PV (discounted)				NOK 106,513,924
Total Brand Value				NOK 158,679,899

Supporting context

This section explains the evidence and judgment used to support the recommendation and the legal, brand and financial assumptions used in the valuation.

Reference case

Formue

Prepared reference case

Indicative value of the Formue name in Nordic wealth advisory: Formue Norge AS, its Danish branch and Formue Sverige AB. It does not value client portfolios, investment returns, advisory teams, customer contracts, regulatory licences, other group businesses or enterprise value.

The NOK 1.076bn base combines two legal-entity reports, includes the Danish branch only once, deducts disclosed Swedish intra-group sales and converts SEK at the 2025 annual average. It is not a fully consolidated group result. The 2.00% royalty ceiling and selected royalty are analyst scenarios, not an observed licence; 21% tax and 10% base discount rate are blended illustrative assumptions, not entity-specific statutory rates. Norwegian client-satisfaction evidence does not establish a Nordic-wide customer score. Legal and behavioural components are outside-in estimates, not a trademark opinion or customer survey. Opening hypothetical rent is screened against the two entities' combined reported operating profit before unallocated parent costs and full group eliminations, not brand-specific profit.

Informed by numerous sources including company reporting, investor materials, analyst research, market data and selected benchmark references where relevant.

Key inputs

Reported = directly sourced • Estimated = selected judgment • Inferred = derived from broader evidence • Assumed = inclusion choice

Revenue base

NOK 1.076bn reconciled FY2025 external-income proxyinferred

Planning growth

2.00% for 3 years, then 2.00%estimated

Long-term growth

1.50%estimated

Royalty rate selected

1.46%estimated

Discount rate

10.00%estimated

Brand Strength

73/100 (B)estimated

Legal analysis

75/100estimated

Company disclosures

These links lead to company-issued materials. BrandValuator cross-checks indicative estimates against multiple sources; the final assumptions and judgments are our own. Each input is labeled by evidence status above.

Formue Norge AS 2025 annual accounts: fee income and Danish branch Formue Sverige AB 2025 annual report: operating income and related-party sales Sveriges Riksbank: 2025 annual average NOK/SEK exchange rate

Legal Protection

trademark Status80

scope Of Rights74

risk Profile69

litigation71

contractual Rights74

goodwill Evidence80

regulatory Compliance74

Brand Strength

marketing Investment68

quality84

availability62

distinctive Brand Codes73

mental Availability75

consideration79

trust83

choice Share76

penetration61

price Elasticity68

revenue Premium65

margin Premium72

stability77