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Danish (OMX) Market Analysis & Valuation

UpdatedDec 25, 2025
DataAggregated Company Financials
Companies134
  • 7D3.2%
  • 3M4.8%
  • 1Y-23.8%
  • YTD-25.5%

The market is up 3.2% over the last week, with the Healthcare sector leading the way, up 7.1%. On the other hand, with a decline of 12%, the Utilities sector is lagging behind. Longer term the market is actually down 24% over the past year. 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
Fri, 26 Dec 2025DKK 4.2tDKK 1.9tDKK 260.5b16.2x16x2.1x
Sun, 23 Nov 2025DKK 3.9tDKK 2.0tDKK 262.5b14.8x14.9x2x
Tue, 21 Oct 2025DKK 4.2tDKK 1.9tDKK 287.6b15.2x14.4x2.1x
Thu, 18 Sep 2025DKK 4.0tDKK 1.9tDKK 286.9b15.1x14.1x2.1x
Sat, 16 Aug 2025DKK 3.9tDKK 1.9tDKK 280.3b15.1x13.8x2x
Mon, 14 Jul 2025DKK 4.4tDKK 1.9tDKK 261.8b16x16.8x2.4x
Wed, 11 Jun 2025DKK 4.8tDKK 1.9tDKK 263.3b15.8x18.4x2.6x
Fri, 09 May 2025DKK 4.3tDKK 1.9tDKK 265.1b14.6x16.2x2.3x
Sun, 06 Apr 2025DKK 4.1tDKK 1.9tDKK 260.3b13x15.8x2.2x
Tue, 04 Mar 2025DKK 5.4tDKK 1.9tDKK 263.3b13.8x20.6x2.9x
Thu, 30 Jan 2025DKK 5.2tDKK 1.8tDKK 238.1b13.9x21.7x2.8x
Sat, 28 Dec 2024DKK 5.3tDKK 1.8tDKK 238.2b13.9x22.4x2.9x
Mon, 25 Nov 2024DKK 5.9tDKK 1.8tDKK 237.8b14.2x24.6x3.2x
Wed, 23 Oct 2024DKK 5.9tDKK 1.7tDKK 202.8b15.4x29.3x3.6x
Fri, 20 Sep 2024DKK 6.6tDKK 1.7tDKK 180.0b15.8x36.8x3.8x
Sun, 18 Aug 2024DKK 6.6tDKK 1.7tDKK 180.2b16.8x36.8x3.8x
Tue, 16 Jul 2024DKK 6.9tDKK 1.7tDKK 185.3b14.9x37x4x
Thu, 13 Jun 2024DKK 6.9tDKK 1.7tDKK 184.6b15.4x37.4x4x
Sat, 11 May 2024DKK 6.5tDKK 1.7tDKK 183.8b14.7x35.1x3.8x
Mon, 08 Apr 2024DKK 6.4tDKK 1.7tDKK 192.3b14.7x33.1x3.7x
Wed, 06 Mar 2024DKK 6.3tDKK 1.7tDKK 192.3b13.3x32.7x3.7x
Fri, 02 Feb 2024DKK 6.0tDKK 1.8tDKK 215.3b13.9x27.8x3.4x
Sun, 31 Dec 2023DKK 5.5tDKK 1.8tDKK 216.0b14.2x25.7x3.1x
Tue, 28 Nov 2023DKK 5.5tDKK 1.8tDKK 216.6b13.3x25.2x3.1x
Thu, 26 Oct 2023DKK 5.3tDKK 1.9tDKK 283.4b12.5x18.6x2.8x
Sat, 23 Sep 2023DKK 5.3tDKK 1.9tDKK 283.5b13.2x18.6x2.8x
Mon, 21 Aug 2023DKK 5.3tDKK 1.9tDKK 281.4b13.1x18.7x2.8x
Wed, 19 Jul 2023DKK 5.0tDKK 1.9tDKK 317.9b13.4x15.8x2.6x
Fri, 16 Jun 2023DKK 5.1tDKK 1.9tDKK 322.0b13.9x16x2.7x
Sun, 14 May 2023DKK 5.3tDKK 1.9tDKK 322.8b14.2x16.5x2.8x
Tue, 11 Apr 2023DKK 4.9tDKK 1.9tDKK 343.9b14.9x14.2x2.5x
Thu, 09 Mar 2023DKK 4.8tDKK 1.9tDKK 349.4b14.1x13.6x2.5x
Sat, 04 Feb 2023DKK 4.7tDKK 1.9tDKK 355.4b14.1x13.2x2.5x
Mon, 02 Jan 2023DKK 4.6tDKK 1.9tDKK 358.1b13.6x12.8x2.4x
Price to Earnings Ratio

12.8x


Total Market Cap: DKK 4.6tTotal Earnings: DKK 358.1bTotal 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 Market3.21%
Healthcare7.11%
Financials2.24%
Industrials1.06%
Consumer Discretionary0.50%
Materials0.27%
Real Estate-0.13%
Telecom-0.61%
Consumer Staples-0.89%
Energy-1.12%
Tech-1.28%
Utilities-12.27%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading close to its 3-year average PE ratio of 51.8x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 56.5% 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 331.559.0%
+DKK 121.1b		-46.7%PE14.2xHealthcare
GMAB GenmabDKK 2.12k5.9%
+DKK 7.3b		43.0%PE13xHealthcare
DANSKE Danske BankDKK 315.802.2%
+DKK 5.4b		57.9%PB1.5xFinancials
DSV DSVDKK 1.59k1.2%
+DKK 4.4b		5.3%PE39.7xIndustrials
KBHL Københavns LufthavneDKK 6.88k6.2%
+DKK 3.1b		13.2%PE46.1xIndustrials
See more

Market Insights

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Latest News

DSV
DKK 1,592.50
DSV
7D
1.2%
1Y
5.3%

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.
TRMD A
DKK 124.15
TORM
7D
-1.1%
1Y
-7.5%
DANSKE
DKK 315.80
Danske Bank
7D
2.2%
1Y
57.9%

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 113.80
cBrain
7D
-13.1%
1Y
-38.4%

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

Dec 23
cBrain (CPH:CBRAIN) Is Investing Its Capital With Increasing Efficiency
ROCK B
DKK 222.75
Rockwool
7D
-0.9%
1Y
-13.0%

ROCK B Will Face Moderating Margin Outlook And Higher Risk Perception Ahead

Analysts have modestly reduced their price target on Rockwool to about DKK 260, down from approximately DKK 270. This adjustment reflects slightly lower growth expectations and a higher discount rate, partly offset by improved profitability and views that the shares still offer deep value at current levels.
EMBLA
DKK 32.80
Embla Medical hf
7D
-1.2%
1Y
-7.1%

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 823.20
Carlsberg
7D
-1.5%
1Y
20.5%

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.
RBREW
DKK 564.00
Royal Unibrew
7D
-0.8%
1Y
12.0%

RBREW: Margin Resilience And Steady Guidance Will Shape Future Share Performance

Analysts nudged their price target on Royal Unibrew higher to DKK 580 from DKK 570, citing continued confidence in the company’s earnings power and long term growth profile. Analyst Commentary Bullish analysts highlight that the higher price target reflects growing confidence in Royal Unibrew’s ability to sustain attractive earnings growth and execute on its long term strategy.
LASP
DKK 1,230.00
Lån & Spar Bank
7D
-3.1%
1Y
77.0%
MAERSK B
DKK 14,575.00
A.P. Møller - Mærsk
7D
0.8%
1Y
23.0%
JYSK
DKK 865.50
Jyske Bank
7D
2.7%
1Y
73.6%

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).
GMAB
DKK 2,123.00
Genmab
7D
5.9%
1Y
43.0%

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.
NOVO B
DKK 331.55
Novo Nordisk
7D
9.0%
1Y
-46.7%
KBHL
DKK 6,880.00
Københavns Lufthavne
7D
6.2%
1Y
13.2%
TRYG
DKK 164.90
Tryg
7D
2.4%
1Y
9.1%
ORSTED
DKK 118.70
Ørsted
7D
-12.3%
1Y
-64.5%