Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Danish (OMX) Market Analysis & Valuation

UpdatedJan 26, 2026
DataAggregated Company Financials
Companies133
  • 7D2.5%
  • 3M12.9%
  • 1Y-15.8%
  • YTD8.7%

The market is up 2.5% over the last week, with the Healthcare sector leading the way, up 5.3%. Over the past year the market is down 16%. As for the next few years, earnings are expected to grow by 5.9% per annum.

Trending IndustriesBiotech

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 27 Jan 2026DKK 4.5tDKK 1.9tDKK 260.8b17x17.4x2.3x
Thu, 25 Dec 2025DKK 4.2tDKK 1.9tDKK 260.5b16.2x16x2.1x
Sat, 22 Nov 2025DKK 3.9tDKK 2.0tDKK 262.5b14.8x14.9x2x
Mon, 20 Oct 2025DKK 4.1tDKK 1.9tDKK 287.5b15x14.1x2.1x
Wed, 17 Sep 2025DKK 4.0tDKK 1.9tDKK 286.7b15x14.1x2.1x
Fri, 15 Aug 2025DKK 3.9tDKK 1.9tDKK 280.7b15.5x13.7x2x
Sun, 13 Jul 2025DKK 4.4tDKK 1.9tDKK 261.8b16x16.8x2.4x
Tue, 10 Jun 2025DKK 4.7tDKK 1.9tDKK 263.4b15.7x17.9x2.5x
Thu, 08 May 2025DKK 4.4tDKK 1.9tDKK 264.7b14.5x16.6x2.3x
Sat, 05 Apr 2025DKK 4.1tDKK 1.9tDKK 260.2b13x15.8x2.2x
Mon, 03 Mar 2025DKK 5.4tDKK 1.9tDKK 263.9b13.8x20.6x2.9x
Wed, 29 Jan 2025DKK 5.2tDKK 1.8tDKK 238.0b14.2x22x2.9x
Fri, 27 Dec 2024DKK 5.2tDKK 1.8tDKK 238.3b13.9x22x2.9x
Sun, 24 Nov 2024DKK 5.9tDKK 1.8tDKK 237.8b14.2x24.7x3.2x
Tue, 22 Oct 2024DKK 6.2tDKK 1.7tDKK 181.2b15.4x34.2x3.5x
Thu, 19 Sep 2024DKK 6.5tDKK 1.7tDKK 180.1b15.7x36.3x3.8x
Sat, 17 Aug 2024DKK 6.6tDKK 1.7tDKK 179.9b16.8x36.9x3.8x
Mon, 15 Jul 2024DKK 6.9tDKK 1.7tDKK 185.3b14.8x37.4x4x
Wed, 12 Jun 2024DKK 6.9tDKK 1.7tDKK 184.7b15.3x37.4x4x
Fri, 10 May 2024DKK 6.5tDKK 1.7tDKK 183.7b14.8x35.2x3.8x
Sun, 07 Apr 2024DKK 6.4tDKK 1.7tDKK 192.4b14.7x33.1x3.7x
Tue, 05 Mar 2024DKK 6.4tDKK 1.7tDKK 192.3b13.4x33.3x3.7x
Thu, 01 Feb 2024DKK 5.9tDKK 1.8tDKK 217.2b14.1x27.3x3.3x
Sat, 30 Dec 2023DKK 5.5tDKK 1.8tDKK 215.8b14.2x25.7x3.1x
Mon, 27 Nov 2023DKK 5.5tDKK 1.8tDKK 216.5b13.2x25.3x3.1x
Wed, 25 Oct 2023DKK 5.2tDKK 1.9tDKK 284.5b12.5x18.4x2.8x
Fri, 22 Sep 2023DKK 5.3tDKK 1.9tDKK 283.5b13x18.6x2.8x
Sun, 20 Aug 2023DKK 5.3tDKK 1.9tDKK 281.4b13.1x18.7x2.8x
Tue, 18 Jul 2023DKK 5.0tDKK 1.9tDKK 317.8b13.4x15.8x2.6x
Thu, 15 Jun 2023DKK 5.1tDKK 1.9tDKK 323.3b14x15.9x2.6x
Sat, 13 May 2023DKK 5.3tDKK 1.9tDKK 322.8b14.2x16.5x2.8x
Mon, 10 Apr 2023DKK 4.9tDKK 1.9tDKK 343.9b14.9x14.2x2.5x
Wed, 08 Mar 2023DKK 4.8tDKK 1.9tDKK 348.9b14.2x13.8x2.5x
Fri, 03 Feb 2023DKK 4.6tDKK 1.9tDKK 352.9b14x13x2.4x
Price to Earnings Ratio

13x


Total Market Cap: DKK 4.6tTotal Earnings: DKK 352.9bTotal 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 17.4x 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 Market2.52%
Healthcare5.35%
Telecom2.49%
Utilities1.66%
Tech0.44%
Consumer Staples-0.11%
Industrials-0.25%
Materials-0.38%
Financials-0.40%
Consumer Discretionary-1.32%
Energy-1.36%
Real Estate-1.60%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading close to its 3-year average PE ratio of 52.4x.
    • 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 397.155.2%
+DKK 87.1b		-36.2%PE17xHealthcare
ORSTED ØrstedDKK 140.658.4%
+DKK 14.3b		-46.8%PS2.6xUtilities
VWS Vestas Wind SystemsDKK 191.905.7%
+DKK 10.3b		102.1%PE27.2xIndustrials
GMAB GenmabDKK 2.11k3.4%
+DKK 4.3b		40.2%PE13xHealthcare
DANSKE Danske BankDKK 321.601.3%
+DKK 3.3b		49.9%PB1.5xFinancials
See more

Market Insights

Header cover image
How to invest when commodity prices get messy ⚖️
Richard Bowman avatar
Richard Bowman
|
|
From miners to energy, 2026 may reward structure and margins over spot price bets.
Continue reading
Why Didn’t Oil React to Venezuela? 🇻🇪
Last Week

Why Didn’t Oil React to Venezuela? 🇻🇪

Latest News

COLO B
DKK 539.60
Coloplast
7D
-0.6%
1Y
-34.6%

Coloplast A/S' (CPH:COLO B) P/E Is On The Mark

Jan 25
Coloplast A/S' (CPH:COLO B) P/E Is On The Mark
DEMANT
DKK 233.40
Demant
7D
4.7%
1Y
-19.0%

DEMANT: Stable Guidance And Sector Perform Rating Will Support Future Earnings Resilience

Analysts have reduced their price target on Demant by roughly DKK 2 to about DKK 266, reflecting only modest adjustments to growth, margin and P/E assumptions and citing limited scope for the company to increase its organic revenue share over the medium term. Analyst Commentary Recent research paints a fairly balanced picture for Demant, with the current DKK 250 price target and Sector Perform rating pointing to a view that the shares are reasonably valued on existing growth and margin assumptions.
TRYG
DKK 151.20
Tryg
7D
-5.9%
1Y
3.4%
ALK B
DKK 217.20
ALK-Abelló
7D
-1.6%
1Y
39.9%

Pediatric Allergy Tablets And Food Programs Will Drive A Long Runway Of Opportunity

Catalysts About ALK-Abelló ALK Abelló develops and commercialises allergy immunotherapy tablets, injectable and drop therapies, along with anaphylaxis treatments such as Jext and neffy. What are the underlying business or industry changes driving this perspective?
NOVO B
DKK 397.15
Novo Nordisk
7D
5.2%
1Y
-36.2%

NOVO B: Wegovy Pill Launch And Execution Discipline Will Support Future Upside

Analysts have reduced their fair value estimate for Novo Nordisk to €540 from €612. They cite more moderate assumptions for revenue growth and profit margins, along with a higher discount rate and a slightly higher expected future P/E multiple.
DANSKE
DKK 321.60
Danske Bank
7D
1.3%
1Y
49.9%

DANSKE: Future Repricing Risk Seen As Earnings Outpace Lower P E Assumptions

Analysts have lifted their price targets on Danske Bank, with recent moves such as DKK 352 to DKK 358, DKK 308 to DKK 319 and DKK 275 to DKK 295. These changes reflect updated views on revenue growth, profit margins and a lower assumed future P/E multiple in the refreshed valuation work.
VWS
DKK 191.90
Vestas Wind Systems
7D
5.7%
1Y
102.1%

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 217.40
Rockwool
7D
7.7%
1Y
-15.5%

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 484.70
Pandora
7D
-6.7%
1Y
-64.4%

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 2,112.00
Genmab
7D
3.4%
1Y
40.2%

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.
KBHL
DKK 6,380.00
Københavns Lufthavne
7D
-3.3%
1Y
0.9%
LASP
DKK 1,560.00
Lån & Spar Bank
7D
-7.7%
1Y
126.1%
ORSTED
DKK 140.65
Ørsted
7D
8.4%
1Y
-46.8%
JDAN
DKK 200.00
Jeudan
7D
-2.9%
1Y
1.8%
CHEMM
DKK 662.00
ChemoMetec
7D
-3.5%
1Y
37.3%
NSIS B
DKK 410.30
Novozymes
7D
1.1%
1Y
0.3%