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Danish (OMX) Market Analysis & Valuation

UpdatedDec 16, 2025
DataAggregated Company Financials
Companies134
  • 7D2.8%
  • 3M-2.2%
  • 1Y-34.1%
  • YTD-26.9%

Over the last 7 days, the market has risen 2.8%, driven by gains of 3.7% in the Healthcare sector. Over the past year the market is down 34%. Looking forward, earnings are forecast to grow by 5.3% annually.

Trending IndustriesBiotech

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 16 Dec 2025DKK 4.1tDKK 1.9tDKK 260.5b15.1x15.7x2.1x
Thu, 13 Nov 2025DKK 4.1tDKK 2.0tDKK 260.9b15.2x15.6x2.1x
Sat, 11 Oct 2025DKK 4.1tDKK 1.9tDKK 287.8b15.1x14.2x2.1x
Mon, 08 Sep 2025DKK 4.0tDKK 1.9tDKK 287.3b15.1x13.9x2.1x
Wed, 06 Aug 2025DKK 3.8tDKK 1.9tDKK 261.9b15.5x14.5x2x
Fri, 04 Jul 2025DKK 4.4tDKK 1.9tDKK 261.7b15.7x16.7x2.4x
Sun, 01 Jun 2025DKK 4.5tDKK 1.9tDKK 263.6b15.9x17.1x2.4x
Tue, 29 Apr 2025DKK 4.2tDKK 1.9tDKK 258.6b14x16.1x2.2x
Thu, 27 Mar 2025DKK 4.7tDKK 1.9tDKK 261.0b15.4x18x2.5x
Sat, 22 Feb 2025DKK 5.3tDKK 1.9tDKK 264.2b13.9x20.2x2.8x
Mon, 20 Jan 2025DKK 5.0tDKK 1.8tDKK 238.9b13.8x21x2.7x
Wed, 18 Dec 2024DKK 5.9tDKK 1.8tDKK 238.0b13.7x24.8x3.2x
Fri, 15 Nov 2024DKK 5.9tDKK 1.8tDKK 235.9b14.4x24.8x3.2x
Sun, 13 Oct 2024DKK 6.3tDKK 1.7tDKK 181.0b15.4x34.6x3.6x
Tue, 10 Sep 2024DKK 6.5tDKK 1.7tDKK 180.2b15.1x36x3.7x
Thu, 08 Aug 2024DKK 6.2tDKK 1.7tDKK 185.5b15.2x33.4x3.6x
Sat, 06 Jul 2024DKK 6.9tDKK 1.7tDKK 184.5b15.4x37.3x4x
Mon, 03 Jun 2024DKK 6.7tDKK 1.7tDKK 184.5b15.3x36.3x3.9x
Wed, 01 May 2024DKK 6.5tDKK 1.7tDKK 191.4b14.9x33.8x3.8x
Fri, 29 Mar 2024DKK 6.4tDKK 1.7tDKK 192.4b14.8x33.5x3.8x
Sun, 25 Feb 2024DKK 6.3tDKK 1.7tDKK 191.5b13x32.8x3.7x
Tue, 23 Jan 2024DKK 5.7tDKK 1.8tDKK 217.0b13.5x26.3x3.2x
Thu, 21 Dec 2023DKK 5.5tDKK 1.8tDKK 216.5b13.4x25.4x3.1x
Sat, 18 Nov 2023DKK 5.4tDKK 1.8tDKK 217.1b12.7x24.8x3x
Mon, 16 Oct 2023DKK 5.5tDKK 1.9tDKK 285.8b13x19.3x2.9x
Wed, 13 Sep 2023DKK 5.0tDKK 1.9tDKK 282.8b13.4x17.9x2.7x
Fri, 11 Aug 2023DKK 5.3tDKK 1.9tDKK 273.9b13.4x19.5x2.9x
Sun, 09 Jul 2023DKK 5.0tDKK 1.9tDKK 321.4b13.8x15.5x2.6x
Tue, 06 Jun 2023DKK 5.1tDKK 1.9tDKK 325.7b14.5x15.6x2.6x
Thu, 04 May 2023DKK 5.1tDKK 1.9tDKK 336.9b13.9x15.3x2.7x
Sat, 01 Apr 2023DKK 4.9tDKK 1.9tDKK 345.1b14.6x14.3x2.6x
Mon, 27 Feb 2023DKK 4.8tDKK 1.9tDKK 350.8b13.7x13.6x2.5x
Wed, 25 Jan 2023DKK 4.6tDKK 1.9tDKK 354.6b13.7x13.1x2.5x
Fri, 23 Dec 2022DKK 4.5tDKK 1.9tDKK 360.6b13.7x12.6x2.4x
Price to Earnings Ratio

12.6x


Total Market Cap: DKK 4.5tTotal Earnings: DKK 360.6bTotal Revenue: DKK 1.9tTotal Market Cap vs Earnings and Revenue0%0%0%
Danish Market Price to Earnings3Y Average 22.1x202320242025
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 15.7x 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 Market2.77%
Healthcare3.72%
Industrials3.61%
Consumer Staples2.91%
Financials1.32%
Real Estate-0.0084%
Utilities-0.33%
Materials-0.54%
Telecom-1.04%
Tech-1.19%
Consumer Discretionary-1.99%
Energy-5.64%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading close to its 3-year average PE ratio of 51.6x.
    • 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 12.2% 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 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
NOVO B Novo NordiskDKK 316.405.8%
+DKK 77.3b		-59.3%PE13.5xHealthcare
MAERSK B A.P. Møller - MærskDKK 14.64k9.4%
+DKK 18.5b		23.3%PE7xIndustrials
VWS Vestas Wind SystemsDKK 171.506.5%
+DKK 10.3b		78.9%PE24.3xIndustrials
DSV DSVDKK 1.57k1.3%
+DKK 4.7b		1.3%PE39.1xIndustrials
CARL B CarlsbergDKK 830.604.1%
+DKK 4.3b		15.9%PE16.4xConsumer Staples
See more

Market Insights

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MAERSK B
DKK 14,635.00
A.P. Møller - Mærsk
7D
9.4%
1Y
23.3%
DANSKE
DKK 306.30
Danske Bank
7D
1.0%
1Y
48.8%
EMBLA
DKK 33.60
Embla Medical hf
7D
-7.7%
1Y
-5.1%
VWS
DKK 171.50
Vestas Wind Systems
7D
6.5%
1Y
78.9%

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GMAB
DKK 2,013.00
Genmab
7D
-2.1%
1Y
39.5%

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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.
HLUN B
DKK 43.24
H. Lundbeck
7D
-2.7%
1Y
4.0%

HLUN B: Long Term Revenue Outlook Will Likely Weigh On Shares

Analysts have nudged their price target on H. Lundbeck up by approximately 1 currency unit to 39, citing a slightly higher projected profit margin and modestly richer future valuation multiples, even as they temper long term revenue growth expectations and apply a marginally higher discount rate.
NOVO B
DKK 316.40
Novo Nordisk
7D
5.8%
1Y
-59.3%
KBHL
DKK 6,680.00
Københavns Lufthavne
7D
-3.2%
1Y
12.1%
DSV
DKK 1,570.00
DSV
7D
1.3%
1Y
1.3%

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ZEAL
DKK 486.30
Zealand Pharma
7D
-7.4%
1Y
-39.4%

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Analysts have trimmed their price target on Zealand Pharma by approximately kr20 to around kr773. This reflects slightly higher perceived risk, more conservative revenue growth expectations, and a modest reduction in long term profit margin assumptions, despite still rich forward valuation multiples.
NKT
DKK 785.50
NKT
7D
-3.0%
1Y
53.1%

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ROCK B
DKK 222.30
Rockwool
7D
3.7%
1Y
-15.1%

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PNDORA
DKK 692.20
Pandora
7D
-5.0%
1Y
-45.9%

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TRYG
DKK 161.20
Tryg
7D
2.0%
1Y
4.7%
CARL B
DKK 830.60
Carlsberg
7D
4.1%
1Y
15.9%

CARL B: Rising Sector Confidence Will Support Multiple Expansion Into 2026

Analysts have nudged their price target for Carlsberg higher, from about DKK 973 to DKK 992, citing a more constructive long term view on the beer sector and a slightly richer future valuation multiple despite modestly softer growth expectations. Analyst Commentary Analyst reactions to Carlsberg's updated outlook reflect a generally constructive stance, with particular focus on the company’s positioning into 2026 and its ability to sustain disciplined execution in a slower growth environment.
NSIS B
DKK 391.40
Novozymes
7D
-0.6%
1Y
-5.8%