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Danish (OMX) Market Analysis & Valuation

UpdatedDec 31, 2025
DataAggregated Company Financials
Companies134
  • 7D-0.1%
  • 3M1.5%
  • 1Y-24.0%
  • YTD-25.6%

In the last week, the market has stayed flat, however the Communication Services sector stood out, gaining 3.3%. Unfortunately though, the market is down 24% over the past year. As for the next few years, earnings are expected to grow by 6.1% per annum.

Trending IndustriesBiotech

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 31 Dec 2025DKK 4.2tDKK 1.9tDKK 260.5b16.3x16x2.1x
Fri, 28 Nov 2025DKK 4.0tDKK 2.0tDKK 261.9b14.3x15.3x2.1x
Sun, 26 Oct 2025DKK 4.1tDKK 2.0tDKK 287.0b15.3x14.2x2.1x
Tue, 23 Sep 2025DKK 4.1tDKK 1.9tDKK 287.0b15x14.2x2.1x
Thu, 21 Aug 2025DKK 4.0tDKK 1.9tDKK 285.0b15x14.1x2.1x
Sat, 19 Jul 2025DKK 4.3tDKK 1.9tDKK 262.4b15.8x16.4x2.3x
Mon, 16 Jun 2025DKK 4.8tDKK 1.9tDKK 262.6b15.3x18.3x2.6x
Wed, 14 May 2025DKK 4.4tDKK 1.9tDKK 267.2b15.8x16.4x2.3x
Fri, 11 Apr 2025DKK 4.0tDKK 1.9tDKK 259.2b13.3x15.4x2.1x
Sun, 09 Mar 2025DKK 5.2tDKK 1.9tDKK 260.4b14.4x19.9x2.8x
Tue, 04 Feb 2025DKK 5.2tDKK 1.8tDKK 238.7b14.2x21.7x2.8x
Thu, 02 Jan 2025DKK 5.3tDKK 1.8tDKK 238.4b13.8x22x2.9x
Sat, 30 Nov 2024DKK 5.9tDKK 1.8tDKK 237.7b14.2x24.8x3.2x
Mon, 28 Oct 2024DKK 6.0tDKK 1.7tDKK 180.2b15.3x33.3x3.4x
Wed, 25 Sep 2024DKK 6.3tDKK 1.7tDKK 180.0b16x35.1x3.6x
Fri, 23 Aug 2024DKK 6.6tDKK 1.7tDKK 180.5b16.9x36.8x3.8x
Sun, 21 Jul 2024DKK 6.5tDKK 1.7tDKK 186.2b15.3x35.1x3.8x
Tue, 18 Jun 2024DKK 6.9tDKK 1.7tDKK 184.8b15.3x37.2x4x
Thu, 16 May 2024DKK 6.7tDKK 1.7tDKK 184.5b15.5x36.1x3.9x
Sat, 13 Apr 2024DKK 6.4tDKK 1.7tDKK 193.1b15.6x33.1x3.7x
Mon, 11 Mar 2024DKK 6.6tDKK 1.7tDKK 192.0b13.3x34.2x3.8x
Wed, 07 Feb 2024DKK 6.1tDKK 1.8tDKK 225.0b12.9x27.1x3.4x
Fri, 05 Jan 2024DKK 5.7tDKK 1.8tDKK 216.6b13.5x26.4x3.2x
Sun, 03 Dec 2023DKK 5.4tDKK 1.8tDKK 216.7b13.7x25.1x3.1x
Tue, 31 Oct 2023DKK 5.2tDKK 1.9tDKK 302.1b12.5x17.3x2.8x
Thu, 28 Sep 2023DKK 5.2tDKK 1.9tDKK 285.4b13x18.4x2.8x
Sat, 26 Aug 2023DKK 5.3tDKK 1.9tDKK 283.3b12.9x18.9x2.8x
Mon, 24 Jul 2023DKK 5.1tDKK 1.9tDKK 319.5b13.4x16.1x2.7x
Wed, 21 Jun 2023DKK 5.1tDKK 1.9tDKK 322.3b13.7x15.8x2.6x
Fri, 19 May 2023DKK 5.3tDKK 1.9tDKK 324.3b14.6x16.2x2.7x
Sun, 16 Apr 2023DKK 5.1tDKK 1.9tDKK 342.1b15.1x14.9x2.7x
Tue, 14 Mar 2023DKK 4.7tDKK 1.9tDKK 345.8b13.7x13.5x2.4x
Thu, 09 Feb 2023DKK 4.7tDKK 1.9tDKK 356.7b13.6x13.3x2.5x
Sat, 07 Jan 2023DKK 4.7tDKK 1.9tDKK 360.0b13.4x13x2.4x
Price to Earnings Ratio

13x


Total Market Cap: DKK 4.7tTotal Earnings: DKK 360.0bTotal Revenue: DKK 1.9tTotal Market Cap vs Earnings and Revenue0%0%0%
Danish Market Price to Earnings3Y Average 22.1x20242025
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 16.0x which is lower than its 3-year average PE of 22.1x.
Past Earnings Growth
  • The earnings for Danish listed companies have declined 10% 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 Market-0.14%
Telecom3.34%
Utilities3.07%
Energy2.22%
Tech2.10%
Consumer Staples1.46%
Industrials1.13%
Consumer Discretionary1.08%
Financials1.05%
Real Estate0.87%
Materials0.83%
Healthcare-1.70%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading above its 3-year average PE ratio of 51.9x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 56.6% which is higher than its past year's earnings decline of 12.2% 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 12% 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
DSV DSVDKK 1.62k1.4%
+DKK 5.3b		5.6%PE40.2xIndustrials
ORSTED ØrstedDKK 122.353.1%
+DKK 4.8b		-62.3%PS2.3xUtilities
VWS Vestas Wind SystemsDKK 173.401.6%
+DKK 2.7b		76.8%PE24.5xIndustrials
DANSKE Danske BankDKK 318.600.9%
+DKK 2.3b		56.4%PB1.5xFinancials
CARL B CarlsbergDKK 835.201.5%
+DKK 1.6b		21.0%PE16.5xConsumer Staples
See more

Market Insights

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MAERSK B
DKK 14,640.00
A.P. Møller - Mærsk
7D
0.4%
1Y
23.0%

MAERSK B: Freight Cycle Uncertainty Will Meet Improving Margin And Cash Flow Outlook

The analyst price target for A.P. Møller, Mærsk has been modestly revised higher, supported by analysts highlighting improving revenue growth and profit margin expectations despite mixed target moves between roughly DKK 8,800 and DKK 14,352. Analyst Commentary Recent Street research on A.P. Møller, Mærsk reflects a widening dispersion in valuation views, with downside risk flagged by JPMorgan at DKK 8,800 while more constructive forecasts extend up to DKK 14,352.
ZEAL
DKK 466.40
Zealand Pharma
7D
-3.4%
1Y
-34.8%

ZEAL: Next Generation Metabolic Partnership Will Drive Future Upside Potential

Analysts have nudged their price target for Zealand Pharma slightly higher to approximately $774 per share from about $773, citing modestly lower discount rate assumptions. These more than offset slightly weaker long term revenue growth and profit margin expectations.
NOVO B
DKK 325.25
Novo Nordisk
7D
-1.9%
1Y
-47.9%

NOVO B: Future Returns Will Rely On Durable Obesity And Diabetes Cash Flows

Analysts have nudged their fair value estimate for Novo Nordisk slightly lower by about $0.25 per share to roughly $393.04, reflecting modestly softer long term revenue growth assumptions even as profit margin and valuation expectations remain broadly intact. Analyst Commentary Analyst sentiment around Novo Nordisk remains broadly constructive, with the slight fair value adjustment seen more as a recalibration of growth expectations than a shift in the underlying thesis.
IMPERO
DKK 7.05
Impero
7D
-11.3%
1Y
25.9%
DSV
DKK 1,615.00
DSV
7D
1.4%
1Y
5.6%

DSV Margin Discipline Will Support Upside Despite Slight Price Objective Cut

Analysts have trimmed their price target on DSV slightly, to DKK 1,915 from DKK 1,925. This reflects marginally slower expected revenue growth, offset by a modest improvement in profit margins and valuation multiples.
DANSKE
DKK 318.60
Danske Bank
7D
0.9%
1Y
56.4%

DANSKE: Future Returns Will Depend On Earnings Durability And Credit Quality

Analysts have nudged their blended fair value estimate for Danske Bank slightly higher to DKK 308, reflecting a modest upgrade from prior targets such as DKK 295 and DKK 308 toward DKK 319, on the back of improved forward earnings visibility and a somewhat richer, but still reasonable, future P E multiple. Analyst Commentary Recent Street research on Danske Bank points to a gradually improving fundamental backdrop, with price target increases clustering in the DKK 295 to DKK 319 range.
CBRAIN
DKK 112.60
cBrain
7D
-1.1%
1Y
-37.2%

cBrain (CPH:CBRAIN) Is Investing Its Capital With Increasing Efficiency

Dec 23
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EMBLA
DKK 32.50
Embla Medical hf
7D
-0.9%
1Y
-8.7%

EMBLA: Ukraine Expansion And Margin Outlook Will Support Steady Future Performance

Analysts have raised their price target for Embla Medical hf. from approximately 28.00 dollars to 34.00 dollars, reflecting expectations for slightly faster revenue growth, improving profit margins, and a higher justified future earnings multiple, despite a modestly higher discount rate.
CARL B
DKK 835.20
Carlsberg
7D
1.5%
1Y
21.0%

CARL B: Share Gains Will Likely Overshoot Weaker European Volume Prospects

Analysts have raised their fair value estimate for Carlsberg from DKK 723 to DKK 756, reflecting a more constructive outlook on revenue growth and sector sentiment that aligns with recent Street upgrades and higher external price targets heading into 2026. Analyst Commentary The recent upgrade of Carlsberg to Overweight at JPMorgan, alongside a higher price target of DKK 975 from DKK 850, underscores a strengthening long term conviction in the brewer’s ability to execute on its growth strategy and benefit from supportive sector dynamics in tobacco and beer heading into 2026.
VWS
DKK 173.40
Vestas Wind Systems
7D
1.6%
1Y
76.8%

VWS: Margin Expansion And Share Buyback Will Support Stronger Earnings Profile

The analyst price target for Vestas Wind Systems has been raised to approximately DKK 210 from about DKK 196, as analysts factor in slightly higher margin expectations despite modestly softer growth assumptions and a lower future earnings multiple. Analyst Commentary Bullish analysts highlight that the recent increase in the consolidated price target reflects growing confidence in Vestas Wind Systems' ability to execute on its backlog and improve profitability, even as headline growth expectations moderate.
GMAB
DKK 2,027.00
Genmab
7D
-4.5%
1Y
35.8%

GMAB Merus Deal Will Likely Expose Downside Risk At Current Levels

Analysts have lifted Genmab's fair value estimate from DKK 1,015 to about DKK 1,076, reflecting a series of higher price targets that cite the Merus acquisition's boost to the late stage pipeline and underappreciated royalty revenue upside as key drivers. Analyst Commentary Recent Street research on Genmab remains broadly constructive, with multiple firms lifting price targets and highlighting the strategic merits of the Merus acquisition.
KBHL
DKK 6,860.00
Københavns Lufthavne
7D
-0.3%
1Y
12.1%
UIE
DKK 386.50
UIE
7D
-0.3%
1Y
27.1%

UIE Plc's (CPH:UIE) 25% Price Boost Is Out Of Tune With Earnings

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TRYG
DKK 166.50
Tryg
7D
1.0%
1Y
9.9%
ORSTED
DKK 122.35
Ørsted
7D
3.1%
1Y
-62.3%
NSIS B
DKK 407.80
Novozymes
7D
0.7%
1Y
0.02%