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

Danish (OMX) Market Analysis & Valuation

UpdatedJan 15, 2026
DataAggregated Company Financials
Companies134
  • 7D2.3%
  • 3M8.5%
  • 1Y-15.8%
  • YTD7.9%

The market has climbed 2.3% in the last 7 days, lead by the Healthcare sector with a gain of 3.0%. On the other hand, with a decline of 10%, the Consumer Discretionary sector is lagging behind. Longer term the market is actually down 16% over the past year. Looking forward, earnings are forecast to grow by 5.9% annually.

Trending IndustriesBiotech

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 15 Jan 2026DKK 4.5tDKK 2.0tDKK 261.0b16.9x17.3x2.3x
Sat, 13 Dec 2025DKK 4.1tDKK 1.9tDKK 260.6b15x15.9x2.1x
Mon, 10 Nov 2025DKK 3.8tDKK 2.0tDKK 260.8b14.7x14.8x2x
Wed, 08 Oct 2025DKK 4.1tDKK 1.9tDKK 287.7b15x14.2x2.1x
Fri, 05 Sep 2025DKK 4.0tDKK 1.9tDKK 287.6b15x14x2.1x
Sun, 03 Aug 2025DKK 3.8tDKK 1.9tDKK 261.9b15.4x14.4x2x
Tue, 01 Jul 2025DKK 4.4tDKK 1.9tDKK 261.5b15.5x16.7x2.4x
Thu, 29 May 2025DKK 4.5tDKK 1.9tDKK 264.0b15.9x17x2.4x
Sat, 26 Apr 2025DKK 4.1tDKK 1.9tDKK 258.9b14.1x15.9x2.2x
Mon, 24 Mar 2025DKK 4.8tDKK 1.9tDKK 260.7b15.3x18.6x2.6x
Wed, 19 Feb 2025DKK 5.2tDKK 1.9tDKK 263.6b14.1x19.6x2.7x
Fri, 17 Jan 2025DKK 5.1tDKK 1.8tDKK 238.8b13.7x21.5x2.8x
Sun, 15 Dec 2024DKK 5.9tDKK 1.8tDKK 238.0b14x24.6x3.2x
Tue, 12 Nov 2024DKK 6.0tDKK 1.8tDKK 236.0b14.5x25.4x3.3x
Thu, 10 Oct 2024DKK 6.2tDKK 1.7tDKK 180.3b15.4x34.1x3.5x
Sat, 07 Sep 2024DKK 6.5tDKK 1.7tDKK 180.2b15.2x35.8x3.7x
Mon, 05 Aug 2024DKK 6.4tDKK 1.7tDKK 185.5b15.3x34.6x3.7x
Wed, 03 Jul 2024DKK 7.0tDKK 1.7tDKK 184.7b16.1x37.9x4.1x
Fri, 31 May 2024DKK 6.6tDKK 1.7tDKK 184.5b15.1x36x3.9x
Sun, 28 Apr 2024DKK 6.4tDKK 1.7tDKK 191.3b15x33.5x3.7x
Tue, 26 Mar 2024DKK 6.5tDKK 1.7tDKK 192.2b15.3x33.9x3.8x
Thu, 22 Feb 2024DKK 6.2tDKK 1.7tDKK 190.4b13.8x32.6x3.6x
Sat, 20 Jan 2024DKK 5.7tDKK 1.8tDKK 217.0b13.4x26.3x3.2x
Mon, 18 Dec 2023DKK 5.3tDKK 1.8tDKK 216.8b13.3x24.6x3x
Wed, 15 Nov 2023DKK 5.3tDKK 1.8tDKK 217.2b12.6x24.4x3x
Fri, 13 Oct 2023DKK 5.5tDKK 1.9tDKK 285.3b13.2x19.3x2.9x
Sun, 10 Sep 2023DKK 5.4tDKK 1.9tDKK 283.2b13.4x19.1x2.9x
Tue, 08 Aug 2023DKK 5.0tDKK 1.9tDKK 274.3b13.4x18.2x2.7x
Thu, 06 Jul 2023DKK 5.1tDKK 1.9tDKK 323.2b13.8x15.7x2.6x
Sat, 03 Jun 2023DKK 5.1tDKK 1.9tDKK 325.3b14.5x15.6x2.6x
Mon, 01 May 2023DKK 5.2tDKK 1.9tDKK 339.5b15.3x15.2x2.7x
Wed, 29 Mar 2023DKK 4.9tDKK 1.9tDKK 345.2b14.1x14.1x2.5x
Fri, 24 Feb 2023DKK 4.8tDKK 1.9tDKK 349.4b14x13.7x2.5x
Sun, 22 Jan 2023DKK 4.7tDKK 1.9tDKK 355.3b13.7x13.1x2.4x
Price to Earnings Ratio

13.1x


Total Market Cap: DKK 4.7tTotal Earnings: DKK 355.3bTotal 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 17.3x which is lower than its 3-year average PE of 22.2x.
Past Earnings Growth
  • The earnings for Danish listed companies have declined 9.8% 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 Market2.35%
Energy9.24%
Consumer Staples4.32%
Materials3.58%
Real Estate3.11%
Healthcare3.03%
Financials2.93%
Industrials1.55%
Telecom0.95%
Utilities-0.038%
Tech-4.53%
Consumer Discretionary-10.36%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading close to its 3-year average PE ratio of 52.2x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 57.0% 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 57% 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 378.253.2%
+DKK 52.7b		-37.5%PE16.2xHealthcare
DSV DSVDKK 1.75k3.6%
+DKK 14.4b		18.6%PE43.5xIndustrials
DANSKE Danske BankDKK 324.303.3%
+DKK 8.4b		51.0%PB1.5xFinancials
NSIS B NovozymesDKK 422.203.6%
+DKK 6.8b		5.2%PE48.1xMaterials
CARL B CarlsbergDKK 859.405.2%
+DKK 5.6b		25.5%PE17xConsumer Staples
See more

Market Insights

Header cover image
Which Markets Will Sink or Swim in 2026? 🌍
Richard Bowman avatar
Richard Bowman
|
|
What research teams agree on – and where they don’t – heading into 2026.
Continue reading
Three Sectors Expected to Rally in 2026 📈
Last Week

Three Sectors Expected to Rally in 2026 📈

Latest News

NOVO B
DKK 378.25
Novo Nordisk
7D
3.2%
1Y
-37.5%
JYSK
DKK 947.00
Jyske Bank
7D
8.0%
1Y
78.0%
PNDORA
DKK 555.60
Pandora
7D
-16.1%
1Y
-55.5%
NKT
DKK 811.50
NKT
7D
-2.4%
1Y
59.6%
MATAS
DKK 99.80
Matas
7D
-20.4%
1Y
-25.1%
DSV
DKK 1,745.50
DSV
7D
3.6%
1Y
18.6%

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.
NETC
DKK 349.40
Netcompany Group
7D
-4.8%
1Y
5.1%

NETC: Stable Outlook And Updated Market View Will Support Measured Upside

Analysts have raised their price target on Netcompany Group to DKK 320 from DKK 290, reflecting updated views on valuation while keeping broader assumptions around growth, margins and P/E largely unchanged. Analyst Commentary Analysts lifting the price target to DKK 320 while keeping a Neutral stance signals a more refined view of what they think the shares are worth today, without a clear tilt toward either a strong buy or a strong sell view.
ZEAL
DKK 413.50
Zealand Pharma
7D
-2.5%
1Y
-41.0%

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).
ROCK B
DKK 207.00
Rockwool
7D
-7.6%
1Y
-17.3%

There's No Escaping Rockwool A/S' (CPH:ROCK B) Muted Earnings

Jan 10
There's No Escaping Rockwool A/S' (CPH:ROCK B) Muted Earnings
GUBRA
DKK 493.40
Gubra
7D
-5.3%
1Y
-26.4%
KBHL
DKK 6,560.00
Københavns Lufthavne
7D
-2.1%
1Y
2.8%
DANSKE
DKK 324.30
Danske Bank
7D
3.3%
1Y
51.0%

DANSKE: Future Returns Will Reflect Earnings Durability And Easing Legal Overhang

Analysts have nudged their fair value estimate for Danske Bank up from DKK 308 to DKK 310, reflecting a series of recent price target increases (including moves to DKK 295 and DKK 319) and small adjustments in discount rate, profit margin and forward P/E assumptions. Analyst Commentary Recent research on Danske Bank has centered on a cluster of price target revisions, with several large firms updating their views within a short period.
DEMANT
DKK 233.40
Demant
7D
5.7%
1Y
-18.4%

DEMANT: Future Earnings Resilience Will Rely On Stable Market Position

Analysts have trimmed their price target on Demant slightly from DKK 271.65 to DKK 268. This reflects modestly softer assumptions for revenue growth and future P/E, partly offset by a marginally higher expected profit margin and recent views that organic revenue share gains may be limited for now.
CARL B
DKK 859.40
Carlsberg
7D
5.2%
1Y
25.5%

CARL B: Overweight Upgrade Signals Stronger Beer Sector Support Into 2026

Analysts have raised their price target for Carlsberg to DKK 975 from DKK 850, citing more supportive views on the beer sector heading into 2026. Analyst Commentary Bullish analysts are leaning into a more constructive view on Carlsberg, using the higher DKK 975 price target to frame what they see as an improved setup for the shares heading into 2026.
GMAB
DKK 2,251.00
Genmab
7D
3.9%
1Y
51.5%

GMAB: Late Stage Oncology Focus Will Drive Stronger Margins And Repricing

Analysts have increased their fair value estimate for Genmab from DKK 2,700 to approximately DKK 3,060, reflecting updated assumptions that combine lower projected revenue growth with higher profit margins and a reduced future P/E multiple. What's in the News Genmab plans to discontinue further clinical development of acasunlimab and to concentrate resources on late stage programs such as EPKINLY (epcoritamab), petosemtamab and rinatabart sesutecan, described as part of its disciplined portfolio and capital allocation framework (Key Developments).
NSIS B
DKK 422.20
Novozymes
7D
3.6%
1Y
5.2%