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Danish (OMX) Market Analysis & Valuation

UpdatedJan 23, 2026
DataAggregated Company Financials
Companies133
  • 7D2.6%
  • 3M12.1%
  • 1Y-12.5%
  • YTD8.9%

Over the last 7 days, the market has dropped 2.2%, driven by declines in every sector, especially the Healthcare sector. In the last 12 months the market is down 15%. Looking forward, earnings are forecast to grow by 5.7% annually.

Trending IndustriesBiotech

Market Valuation and Performance

Has the Danish Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 23 Jan 2026DKK 4.6tDKK 1.9tDKK 260.6b17x17.5x2.3x
Sun, 21 Dec 2025DKK 4.1tDKK 2.0tDKK 260.8b15.9x15.7x2.1x
Tue, 18 Nov 2025DKK 4.0tDKK 2.0tDKK 262.4b14.8x15.2x2x
Thu, 16 Oct 2025DKK 4.1tDKK 1.9tDKK 287.6b15.1x14.4x2.1x
Sat, 13 Sep 2025DKK 4.0tDKK 1.9tDKK 287.3b15x13.9x2.1x
Mon, 11 Aug 2025DKK 3.9tDKK 1.9tDKK 268.4b15.5x14.5x2.1x
Wed, 09 Jul 2025DKK 4.4tDKK 1.9tDKK 261.8b15.6x17x2.4x
Fri, 06 Jun 2025DKK 4.6tDKK 1.9tDKK 263.2b15.6x17.6x2.5x
Sun, 04 May 2025DKK 4.5tDKK 1.9tDKK 259.1b14.6x17.3x2.4x
Tue, 01 Apr 2025DKK 4.5tDKK 1.9tDKK 260.7b14.4x17.2x2.4x
Thu, 27 Feb 2025DKK 5.4tDKK 1.9tDKK 264.8b14.1x20.6x2.9x
Sat, 25 Jan 2025DKK 5.2tDKK 1.8tDKK 237.7b14.1x22x2.9x
Mon, 23 Dec 2024DKK 5.1tDKK 1.8tDKK 238.2b13.6x21.3x2.8x
Wed, 20 Nov 2024DKK 5.7tDKK 1.8tDKK 236.8b14.1x24.1x3.1x
Fri, 18 Oct 2024DKK 6.2tDKK 1.7tDKK 181.2b15.6x34.5x3.6x
Sun, 15 Sep 2024DKK 6.7tDKK 1.7tDKK 180.1b15.6x37.3x3.9x
Tue, 13 Aug 2024DKK 6.5tDKK 1.7tDKK 182.0b16x35.6x3.7x
Thu, 11 Jul 2024DKK 6.9tDKK 1.7tDKK 184.6b15.4x37.4x4x
Sat, 08 Jun 2024DKK 7.0tDKK 1.7tDKK 184.7b14.8x37.6x4.1x
Mon, 06 May 2024DKK 6.2tDKK 1.7tDKK 183.2b14.7x34.1x3.7x
Wed, 03 Apr 2024DKK 6.4tDKK 1.7tDKK 192.6b14.9x33.1x3.7x
Fri, 01 Mar 2024DKK 6.2tDKK 1.7tDKK 192.4b13.2x32x3.6x
Sun, 28 Jan 2024DKK 5.7tDKK 1.8tDKK 216.8b13.8x26.5x3.2x
Tue, 26 Dec 2023DKK 5.5tDKK 1.8tDKK 216.2b13.4x25.5x3.1x
Thu, 23 Nov 2023DKK 5.4tDKK 1.8tDKK 216.9b13.2x24.9x3x
Sat, 21 Oct 2023DKK 5.2tDKK 1.9tDKK 284.9b12.7x18.4x2.8x
Mon, 18 Sep 2023DKK 5.4tDKK 1.9tDKK 283.6b13.4x19x2.9x
Wed, 16 Aug 2023DKK 5.3tDKK 1.9tDKK 278.6b13.4x19x2.8x
Fri, 14 Jul 2023DKK 5.0tDKK 1.9tDKK 317.9b13.5x15.6x2.6x
Sun, 11 Jun 2023DKK 5.1tDKK 1.9tDKK 325.2b14.3x15.7x2.6x
Tue, 09 May 2023DKK 5.2tDKK 1.9tDKK 312.6b14.2x16.7x2.7x
Thu, 06 Apr 2023DKK 4.9tDKK 1.9tDKK 343.7b14.9x14.2x2.5x
Sat, 04 Mar 2023DKK 4.8tDKK 1.9tDKK 348.8b13.9x13.8x2.5x
Mon, 30 Jan 2023DKK 4.6tDKK 1.9tDKK 354.7b13.8x12.9x2.4x
Price to Earnings Ratio

12.9x


Total Market Cap: DKK 4.6tTotal Earnings: DKK 354.7bTotal Revenue: DKK 1.9tTotal Market Cap vs Earnings and Revenue0%0%0%
Danish Market Price to Earnings3Y Average 22.2x202420252026
Current Market PE
  • Investors are pessimistic on the Danish market, indicating that they anticipate earnings will not grow as fast as they have historically.
  • The market is trading at a PE ratio of 16.9x which is lower than its 3-year average PE of 22.2x.
Past Earnings Growth
  • The earnings for Danish listed companies have declined 9.7% per year over the last three years.
  • Meanwhile revenues have been flat.
  • This means that either the cost of doing business or the level of investment back into businesses is increasing since sales have remained steady while profits have fallen.

Sector Trends

Which sectors have driven the changes within the Danish Market?

DK Market2.64%
Healthcare6.22%
Utilities3.43%
Telecom0.62%
Financials-0.033%
Consumer Staples-0.69%
Industrials-0.95%
Tech-1.79%
Energy-2.37%
Materials-2.48%
Real Estate-2.62%
Consumer Discretionary-4.90%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading close to its 3-year average PE ratio of 52.3x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 56.0% which is higher than its past year's earnings decline of 17.5% per year.
Forecasted Growth
  • Analysts are most optimistic on the Tech sector, expecting annual earnings growth of 56% over the next 5 years.
  • This is better than its past earnings decline of 17% per year.
  • In contrast, the Energy sector is expected to see its earnings decline by 35% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
NOVO B Novo NordiskDKK 396.708.6%
+DKK 140.0b		-31.7%PE17xHealthcare
ORSTED ØrstedDKK 135.553.4%
+DKK 5.9b		-47.2%PS2.5xUtilities
ZEAL Zealand PharmaDKK 433.706.5%
+DKK 1.9b		-41.8%PE4.7xHealthcare
FLS FLSmidthDKK 541.005.0%
+DKK 1.4b		43.9%PE21.5xIndustrials
RILBA Ringkjøbing LandbobankDKK 1.63k3.1%
+DKK 1.2b		36.1%PB3.5xFinancials
See more

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RILBA
DKK 1,630.00
Ringkjøbing Landbobank
7D
3.1%
1Y
36.1%
DEMANT
DKK 234.20
Demant
7D
1.3%
1Y
-19.5%

An Intrinsic Calculation For Demant A/S (CPH:DEMANT) Suggests It's 24% Undervalued

Jan 22
An Intrinsic Calculation For Demant A/S (CPH:DEMANT) Suggests It's 24% Undervalued
NKT
DKK 777.00
NKT
7D
-2.1%
1Y
51.8%

NKT: Order Backlog Execution Will Support Sector-Leading Margins By 2028

Analysts have trimmed their fair value estimate for NKT to DKK 1,008 from DKK 1,097, reflecting updated views on growth, profitability and valuation multiples following recent downgrades and mixed price target revisions across the Street. Analyst Commentary Street research on NKT has been mixed recently, with some firms turning more cautious on the shares while others see enough execution progress and market opportunity to justify higher valuation benchmarks.
VWS
DKK 180.00
Vestas Wind Systems
7D
-3.3%
1Y
89.2%

VWS: Higher Price View Will Face Pressure From Execution And Margin Risks

Analysts have lifted their price target on Vestas Wind Systems, with one recent move taking it to DKK 173 from DKK 164. The change reflects updates to fair value assumptions, discount rate, revenue growth expectations, profit margin outlook and future P/E inputs.
ROCK B
DKK 213.40
Rockwool
7D
1.1%
1Y
-17.4%

ROCK B: Bullish Coverage And Buybacks Are Expected To Support Rebound

Analysts have trimmed their fair value estimate for Rockwool from DKK 359.88 to DKK 280.16, reflecting updated assumptions for slower revenue growth, slightly lower margins and a more cautious future P/E, even as recent research includes both new bullish coverage and moderated price targets. Analyst Commentary Recent research on Rockwool shows a mix of caution and optimism, with several bullish analysts focusing on valuation support, an improving earnings backdrop and potential for more balanced execution after previous downgrades.
PNDORA
DKK 509.80
Pandora
7D
-6.6%
1Y
-62.0%

PNDORA: Lower Margin Outlook Will Shape Measured Expectations For Future Earnings Multiple

Analysts now see Pandora's fair value at €510, down from €630. They cite modestly lower revenue growth and profit margin assumptions, along with a slightly higher discount rate and a trimmed future P/E estimate.
GMAB
DKK 2,118.00
Genmab
7D
-2.1%
1Y
40.1%

GMAB: Phase 3 Setback And 2026 Readout Will Shape Market Outlook

Genmab’s analyst price target has been lifted by roughly DKK 100 to reflect updated expectations around slightly higher revenue growth and profit margin assumptions, as analysts point to recent target increases from DKK 2,000 to DKK 2,400 and DKK 2,500 as support for a higher fair value range. Analyst Commentary Recent Street research on Genmab reflects a generally constructive stance, with higher price targets and continued attention on upcoming clinical milestones.
NOVO B
DKK 396.70
Novo Nordisk
7D
8.6%
1Y
-31.7%

Novo Nordisk A/S' (CPH:NOVO B) 26% Share Price Surge Not Quite Adding Up

Jan 17
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FLS
DKK 541.00
FLSmidth
7D
5.0%
1Y
43.9%
DSV
DKK 1,766.50
DSV
7D
-0.6%
1Y
19.4%

DSV: Margin Discipline And Freight Cycle Trends Will Shape Future Upside Potential

Analysts have nudged their fair value estimate for DSV higher from DKK 1,805.61 to DKK 1,825.84, reflecting recent price target increases from several firms and updated views on transport cycle trends and future P/E assumptions. Analyst Commentary Recent price target moves around DSV point to a generally constructive stance, with some caution around the freight cycle and earnings visibility.
ZEAL
DKK 433.70
Zealand Pharma
7D
6.5%
1Y
-41.8%

ZEAL: Metabolic Collaboration Will Support Future Upside Despite Trimmed Fair Value

Analysts have trimmed their price target on Zealand Pharma to approximately $746 from about $774, citing a slightly higher discount rate and revenue growth headwinds, partially offset by a modestly improved profit margin and a higher assumed future P/E multiple. What's in the News OTR Therapeutics and Zealand Pharma A/S entered into a multi program collaboration and license agreement to discover and develop therapeutics for metabolic diseases, combining Zealand Pharma's obesity and metabolic health expertise with OTR Therapeutics' R&D platform (Key Developments).
MAERSK B
DKK 14,865.00
A.P. Møller - Mærsk
7D
-0.6%
1Y
43.1%

MAERSK B: Freight Cycle Uncertainty Will Meet Mixed Margin And Earnings Outlook

Analysts have lifted their fair value estimate for A.P. Møller Mærsk from DKK 15,558 to about DKK 15,882, reflecting updated assumptions on revenue growth, profit margins and future P/E multiples in light of recent target moves, which range from DKK 8,600 to DKK 14,352 across the Street. Analyst Commentary Recent Street research on A.P. Møller Mærsk shows a wide spread in target prices, with several bullish analysts focusing on potential upside scenarios while others remain cautious.
COLO B
DKK 553.00
Coloplast
7D
-4.1%
1Y
-32.3%

COLO B: Sustained Margins And Dividend Payouts Will Support Future Upside

Narrative update The analyst price target for Coloplast has edged up by about DKK 0.30 to reflect slightly higher fair value estimates. Recent Street research shows a mix of views, with some analysts lifting targets toward DKK 535 and others resetting them closer to DKK 640, which has led to modest adjustments to discount rate, revenue growth, profit margin, and future P/E assumptions.
DJUR
DKK 1,050.00
Djurslands Bank
7D
7.4%
1Y
76.5%
ORSTED
DKK 135.55
Ørsted
7D
3.4%
1Y
-47.2%
NSIS B
DKK 411.10
Novozymes
7D
-2.6%
1Y
0.8%