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Danish (OMX) Market Analysis & Valuation

UpdatedDec 19, 2025
DataAggregated Company Financials
Companies134
  • 7D-2.2%
  • 3M-3.5%
  • 1Y-32.6%
  • YTD-27.8%

Over the last 7 days, the market has dropped 2.2%, driven by a pullback of 4.3% in the Healthcare sector. As for last year, the market is also down 33%. Earnings are forecast to grow by 6.3% annually.

Trending IndustriesBiotech

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
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
Mon, 26 Dec 2022DKK 4.6tDKK 1.9tDKK 360.0b13.9x12.7x2.4x
Price to Earnings Ratio

12.7x


Total Market Cap: DKK 4.6tTotal Earnings: DKK 360.0bTotal 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 15.5x 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-2.24%
Materials2.89%
Consumer Staples1.64%
Financials0.32%
Telecom-0.17%
Tech-1.09%
Utilities-1.10%
Industrials-1.44%
Real Estate-1.47%
Consumer Discretionary-2.57%
Healthcare-4.31%
Energy-5.78%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading above 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
NSIS B NovozymesDKK 404.002.8%
+DKK 5.1b		0.07%PE46xMaterials
CARL B CarlsbergDKK 835.401.8%
+DKK 2.0b		20.8%PE16.5xConsumer Staples
PAAL B Per Aarsleff HoldingDKK 850.0012.4%
+DKK 1.9b		75.3%PE18.2xIndustrials
FLS FLSmidthDKK 440.607.8%
+DKK 1.8b		22.5%PE17.7xIndustrials
ROCK B RockwoolDKK 224.803.1%
+DKK 1.4b		-12.3%PE12.6xIndustrials
See more

Market Insights

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Three Sectors Expected to Rally in 2026 📈
With the backdrop of consistently strong broad market returns over the last few years, analysts are now looking at sector-specific plays that could outperform in 2026.
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Latest News

PAAL B
DKK 850.00
Per Aarsleff Holding
7D
12.4%
1Y
75.3%

Per Aarsleff Holding's (CPH:PAAL B) Dividend Will Be Increased To DKK12.00

Dec 19
Per Aarsleff Holding's (CPH:PAAL B) Dividend Will Be Increased To DKK12.00
MAERSK B
DKK 14,465.00
A.P. Møller - Mærsk
7D
-2.6%
1Y
25.8%
JYSK
DKK 842.50
Jyske Bank
7D
2.9%
1Y
68.5%

JYSK: Lower Risk And Higher Earnings Guidance Will Ultimately Disappoint

Analysts have raised their price target on Jyske Bank significantly, from DKK 514.00 to DKK 738.00, citing a lower perceived risk profile, slightly improved profitability expectations, and a marginally better revenue outlook that together support a higher future earnings multiple. What's in the News Raised 2025 earnings guidance, now expecting net profit of DKK 4.9 billion to 5.3 billion, up from a previous range that topped out at DKK 4.6 billion (company guidance).
VWS
DKK 170.70
Vestas Wind Systems
7D
0.6%
1Y
76.4%

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 2,004.00
Genmab
7D
-2.1%
1Y
37.8%

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.
COLO B
DKK 543.40
Coloplast
7D
-3.7%
1Y
-31.3%

COLO B: Sustained Margin Strength Will Support Upside As Dividend Payouts Increase

Analysts have nudged our Coloplast fair value estimate slightly higher to about DKK 689 per share from roughly DKK 689 previously, reflecting a modest uptick in long term multiple assumptions even as recent Street price target revisions have moved in mixed directions. Analyst Commentary Recent Street actions on Coloplast highlight a divided view on near term upside versus longer term execution and growth.
NOVO B
DKK 304.30
Novo Nordisk
7D
-4.8%
1Y
-59.1%
KBHL
DKK 6,480.00
Københavns Lufthavne
7D
-3.9%
1Y
6.6%
DSV
DKK 1,574.00
DSV
7D
-2.8%
1Y
5.2%

DSV (CPH:DSV) Seems To Use Debt Quite Sensibly

Dec 11
DSV (CPH:DSV) Seems To Use Debt Quite Sensibly
ZEAL
DKK 466.30
Zealand Pharma
7D
-9.3%
1Y
-38.4%

ZEAL: Future Index Exit And Margin Resilience Will Unlock Upside

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.
ROCK B
DKK 224.80
Rockwool
7D
3.1%
1Y
-12.3%

ROCK B: Deep Value And Margin Recovery Will Drive Long-Term Upside Potential

Analysts have trimmed their price target on Rockwool to about DKK 250 from roughly DKK 278, reflecting a slightly higher discount rate and lower margin assumptions, even as they acknowledge improving revenue growth prospects and see deep value at current share levels. Analyst Commentary Bullish analysts highlight that the recent target price revisions still imply meaningful upside from current levels, pointing to what they describe as deep value in the shares.
CARL B
DKK 835.40
Carlsberg
7D
1.8%
1Y
20.8%

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.
FLS
DKK 440.60
FLSmidth
7D
7.8%
1Y
22.5%

FLS: Capital Markets Day Will Unlock Upside Despite CEO Transition And Guidance Update

The analyst fair value estimate for FLSmidth has edged down by DKK 4 to DKK 470.88, as analysts balance a slightly higher discount rate against a reaffirmed positive long term outlook, supported by recent upward revisions to several Street price targets despite mixed ratings. Analyst Commentary Recent Street research reflects a generally constructive view on FLSmidth, with several firms lifting price targets and one notable downgrade tempering the consensus.
ORSTED
DKK 135.30
Ørsted
7D
-1.1%
1Y
-59.3%
NSIS B
DKK 404.00
Novozymes
7D
2.8%
1Y
0.07%
RILBA
DKK 1,498.00
Ringkjøbing Landbobank
7D
2.5%
1Y
25.9%