Danish Undervalued over 20% based on DCF

DSV

Market Cap: DKK 374.4b

Offers freight forwarding and logistics services in Europe, the Middle East, Africa, North America, South America, Asia, Australia, and the Pacific.

Danske Bank

Market Cap: DKK 259.4b

Provides various banking products and services to corporate, institutional, and international clients.

Novozymes

Market Cap: DKK 180.4b

Produces and sells industrial enzymes, functional proteins, and microorganisms in Denmark, rest of Europe, North America, the Asia Pacific, the Middle East, Africa, and Latin America.

Coloplast

Market Cap: DKK 99.7b

Engages in the development and sale of intimate healthcare products and services in Denmark, the United States, the United Kingdom, France, and internationally.

Tryg

Market Cap: DKK 91.3b

Engages in the provision of insurance products and services to private, small and medium sized commercial, and corporate customers in Denmark, the United States, rest of Nordic, Luxembourg, the United Kingdom, and internationally.

Jyske Bank

Market Cap: DKK 52.4b

Provides financial solutions in Denmark and Germany.

NKT

Market Cap: DKK 46.3b

Designs, manufactures, and installs low, medium, and high voltage power cable solutions in Denmark.

ALK-Abelló

Market Cap: DKK 45.6b

An allergy solutions company, develops treatments for respiratory allergy, anaphylaxis, and food allergy and new disease areas in the European Union, the United Kingdom, Norway, Switzerland, the United States, Canada, Japan, China, and internationally.

Demant

Market Cap: DKK 41.3b

Operates as a hearing healthcare company in Europe, North America, Asia, Pacific region, and internationally.

Ringkjøbing Landbobank

Market Cap: DKK 37.7b

Provides various financial products and services in Denmark.

Pandora

Market Cap: DKK 35.9b

Engages in the design, crafting, and marketing of jewelry worldwide.

FLSmidth

Market Cap: DKK 27.3b

Provides flowsheet technology and service solutions for the mining industries in Denmark, the United States of America, Canada, Chile, Brazil, Peru, Australia, North and South America, Europe, the Middle East, Africa, and Asia.

TORM

Market Cap: DKK 18.5b

A shipping company, owns and operates a fleet of product tankers in the United Kingdom and internationally.

Ambu

Market Cap: DKK 18.3b

Researches, develops, manufactures, markets, and sells medical technology solutions in North America, Europe, and internationally.

Netcompany Group

Market Cap: DKK 17.8b

Engages in the provision of IT solutions to private and public customers in Denmark, Norway, the United Kingdom, the Netherlands, Greece, Belgium, Luxembourg, and internationally.

Per Aarsleff Holding

Market Cap: DKK 15.4b

Provides infrastructure and construction services for societies in Denmark and internationally.

Embla Medical hf

Market Cap: DKK 11.5b

Provides non-invasive orthopedic products in Europe, the Middle East, Africa, the Americas, and the Asia-Pacific.

ChemoMetec

Market Cap: DKK 5.4b

Engages in the development, production, and sale of analytical equipment for cell counting and analysis the United States, Canada, Europe, and internationally.

Danske Andelskassers Bank

Market Cap: DKK 3.9b

Provides various banking products and services to private, small and medium-sized businesses, and agricultural customers in Denmark.

Skjern Bank

Market Cap: DKK 2.8b

Provides various banking products and services to private and corporate customers in Denmark.

MT Højgaard Holding

Market Cap: DKK 2.8b

Engages in the provision of construction, civil engineering, and infrastructure services for private and public customers in Denmark and internationally.

Djurslands Bank

Market Cap: DKK 2.5b

Provides various banking products and services in Denmark.

PARKEN Sport & Entertainment

Market Cap: DKK 1.8b

Together with its subsidaries, operates in the park sports and entertainment industry in Denmark.

Trifork Group

Market Cap: DKK 1.6b

Provides information technology and other business services in Switzerland, Denmark, the United Kingdom, the Netherlands, the United States, and internationally.

GrønlandsBANKEN

Market Cap: DKK 1.6b

Provides various financial services to private and business customers, and public institutions in Greenland.

Fynske Bank

Market Cap: DKK 1.4b

Provides banking products and services for private customers, and small and medium-sized businesses in Denmark.

cBrain

Market Cap: DKK 1.3b

A software company, provides software solutions for government, private, education, and non-profit sectors in Denmark, the European Union, and internationally.

Lollands Bank

Market Cap: DKK 961.2m

Operates as a full-service bank providing financial services to private individuals and commercial customers in Denmark.

Møns Bank

Market Cap: DKK 796.0m

Provides banking products and services to private and wealth customers, small and medium-sized businesses in Denmark.

Investeringsselskabet Luxor

Market Cap: DKK 620.0m

Operates as a publicly owned investment manager.

Fast Ejendom Danmark

Market Cap: DKK 552.4m

Fast Ejendom Denmark is a real estate investment firm specializing in commercial and residential properties.

Roblon

Market Cap: DKK 198.5m

Develops, produces, and sells fiber solutions in Denmark and internationally.

Scandinavian Investment Group

Market Cap: DKK 162.8m

Invests in real estate properties in Denmark.