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Danish (OMX) Market Analysis & Valuation

UpdatedJan 21, 2026
DataAggregated Company Financials
Companies133
  • 7D-0.7%
  • 3M10.6%
  • 1Y-14.1%
  • YTD6.9%

Over the last 7 days, the market has remained flat, although notably the Consumer Discretionary sector declined by 7.2%. As for last year, the market is down 14%. Looking forward, earnings are forecast to grow by 6.0% annually.

Trending IndustriesBiotech

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 21 Jan 2026DKK 4.5tDKK 1.9tDKK 260.6b16.9x17.1x2.3x
Fri, 19 Dec 2025DKK 4.0tDKK 1.9tDKK 260.7b15.3x15.5x2.1x
Sun, 16 Nov 2025DKK 4.0tDKK 2.0tDKK 262.3b14.5x15.2x2x
Tue, 14 Oct 2025DKK 4.2tDKK 1.9tDKK 288.0b15x14.5x2.2x
Thu, 11 Sep 2025DKK 4.0tDKK 1.9tDKK 287.4b15.2x13.9x2.1x
Sat, 09 Aug 2025DKK 3.9tDKK 1.9tDKK 266.9b15.5x14.6x2.1x
Mon, 07 Jul 2025DKK 4.4tDKK 1.9tDKK 261.5b15.5x17x2.4x
Wed, 04 Jun 2025DKK 4.5tDKK 1.9tDKK 263.6b15.4x17.2x2.4x
Fri, 02 May 2025DKK 4.4tDKK 1.9tDKK 259.6b14.5x16.9x2.3x
Sun, 30 Mar 2025DKK 4.6tDKK 1.9tDKK 260.6b14.7x17.5x2.4x
Tue, 25 Feb 2025DKK 5.4tDKK 1.9tDKK 265.0b13.8x20.3x2.9x
Thu, 23 Jan 2025DKK 5.0tDKK 1.8tDKK 238.4b13.9x21.1x2.8x
Sat, 21 Dec 2024DKK 5.1tDKK 1.8tDKK 238.2b13.6x21.3x2.8x
Mon, 18 Nov 2024DKK 5.6tDKK 1.8tDKK 237.0b14.2x23.8x3.1x
Wed, 16 Oct 2024DKK 6.2tDKK 1.7tDKK 181.1b15.2x34.1x3.5x
Fri, 13 Sep 2024DKK 6.7tDKK 1.7tDKK 180.1b15.4x37x3.8x
Sun, 11 Aug 2024DKK 6.6tDKK 1.7tDKK 182.1b15.8x36.2x3.8x
Tue, 09 Jul 2024DKK 6.9tDKK 1.7tDKK 184.6b15.3x37.5x4x
Thu, 06 Jun 2024DKK 6.7tDKK 1.7tDKK 184.5b14.9x36.4x3.9x
Sat, 04 May 2024DKK 6.2tDKK 1.7tDKK 183.3b14.7x34.1x3.7x
Mon, 01 Apr 2024DKK 6.4tDKK 1.7tDKK 192.5b14.8x33.5x3.8x
Wed, 28 Feb 2024DKK 6.2tDKK 1.7tDKK 191.5b13.2x32.4x3.6x
Fri, 26 Jan 2024DKK 5.7tDKK 1.8tDKK 217.0b13.8x26.3x3.2x
Sun, 24 Dec 2023DKK 5.5tDKK 1.8tDKK 216.2b13.4x25.5x3.1x
Tue, 21 Nov 2023DKK 5.4tDKK 1.8tDKK 216.5b13.2x25.1x3.1x
Thu, 19 Oct 2023DKK 5.4tDKK 1.9tDKK 285.7b12.9x19x2.9x
Sat, 16 Sep 2023DKK 5.5tDKK 1.9tDKK 283.6b13.4x19.3x2.9x
Mon, 14 Aug 2023DKK 5.3tDKK 1.9tDKK 278.3b13.4x19.1x2.9x
Wed, 12 Jul 2023DKK 4.9tDKK 1.9tDKK 321.6b13.4x15.3x2.5x
Fri, 09 Jun 2023DKK 5.1tDKK 1.9tDKK 324.5b14.3x15.8x2.6x
Sun, 07 May 2023DKK 5.1tDKK 1.9tDKK 312.7b14.2x16.3x2.7x
Tue, 04 Apr 2023DKK 4.9tDKK 1.9tDKK 344.2b14.6x14.2x2.6x
Thu, 02 Mar 2023DKK 4.8tDKK 1.9tDKK 348.1b13.9x13.8x2.5x
Sat, 28 Jan 2023DKK 4.6tDKK 1.9tDKK 354.9b13.8x12.9x2.4x
Price to Earnings Ratio

12.9x


Total Market Cap: DKK 4.6tTotal Earnings: DKK 354.9bTotal 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 17.1x 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 Market-0.70%
Telecom1.15%
Consumer Staples0.47%
Healthcare0.15%
Financials-0.35%
Industrials-0.94%
Real Estate-1.34%
Materials-2.48%
Tech-5.13%
Energy-5.89%
Utilities-6.24%
Consumer Discretionary-7.23%
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
FLS FLSmidthDKK 533.005.3%
+DKK 1.5b		44.8%PE21.2xIndustrials
DSV DSVDKK 1.75k0.1%
+DKK 472.2m		19.3%PE43.5xIndustrials
TRYG TrygDKK 160.700.2%
+DKK 241.0m		1.5%PE20xFinancials
ALMB Alm. BrandDKK 18.450.8%
+DKK 181.6m		22.9%PE25.6xFinancials
RILBA Ringkjøbing LandbobankDKK 1.59k0.4%
+DKK 143.5m		32.8%PB3.4xFinancials
See more

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Latest News

CARL B
DKK 844.40
Carlsberg
7D
0.9%
1Y
17.1%

CARL B: Higher Margins And Mixed Ratings Will Shape Fairly Valued Shares

The analyst fair value estimate for Carlsberg has edged up from DKK 756 to DKK 769, as analysts factor in recent Street research that balances slightly softer revenue growth assumptions with higher profit margin expectations and a lower implied future P/E, along with mixed but generally supportive price target revisions from major banks. Analyst Commentary Recent Street research on Carlsberg presents a mix of optimism and caution, with headline price targets stretching from DKK 769 in the analyst fair value estimate to above DKK 1,000 in some bank research.
PNDORA
DKK 515.80
Pandora
7D
-9.8%
1Y
-60.4%

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 1,998.00
Genmab
7D
-6.9%
1Y
30.1%

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 389.50
Novo Nordisk
7D
1.6%
1Y
-32.1%

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

Jan 17
Novo Nordisk A/S' (CPH:NOVO B) 26% Share Price Surge Not Quite Adding Up
FLS
DKK 518.50
FLSmidth
7D
3.9%
1Y
41.8%
TRYG
DKK 161.10
Tryg
7D
1.1%
1Y
3.6%

TRYG: Recent Downgrade Will Reset Expectations While Keeping Core Franchise Intact

Analysts have trimmed their price target on Tryg from DKK 175 to about DKK 171.60. They cite updated assumptions on discount rates, growth, profitability and valuation multiples, in line with a recent downgrade highlighted in Street research.
JYSK
DKK 925.50
Jyske Bank
7D
4.8%
1Y
72.5%
NKT
DKK 801.50
NKT
7D
1.6%
1Y
55.3%
DSV
DKK 1,745.00
DSV
7D
1.0%
1Y
18.1%

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.
MAERSK B
DKK 14,860.00
A.P. Møller - Mærsk
7D
-5.5%
1Y
42.0%

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 538.80
Coloplast
7D
-6.5%
1Y
-34.0%

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.
DANSKE
DKK 313.30
Danske Bank
7D
-1.9%
1Y
46.3%

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.
VWS
DKK 179.20
Vestas Wind Systems
7D
-1.6%
1Y
88.2%

VWS: Future Execution Risks May Undermine Raised Outlook And Earnings Guidance

Analysts lifted their price target on Vestas Wind Systems to DKK 173 from DKK 164, citing updated assumptions on fair value, discount rate, revenue growth, profit margin and future P/E that support a slightly higher long term outlook for the shares. Analyst Commentary Bullish Takeaways Bullish analysts frame the new DKK 173 target as reflecting updated views on fair value that they see as better aligned with the company’s longer term earnings potential.
RILBA
DKK 1,566.00
Ringkjøbing Landbobank
7D
1.6%
1Y
30.6%
ORSTED
DKK 126.20
Ørsted
7D
-6.2%
1Y
-54.7%
NSIS B
DKK 408.50
Novozymes
7D
-2.5%
1Y
-0.5%