CPSE:DSV

Stock Analysis Report

Executive Summary

DSV Panalpina A/S provides transport and logistics services in Europe, the Middle East, Africa, North America, South America, Asia, Australia, and the Pacific.


Snowflake Analysis

Excellent balance sheet with moderate growth potential.


Similar Companies

Share Price & News

How has DSV Panalpina's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: DSV's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

3.0%

DSV

2.6%

DK Logistics

3.4%

DK Market


1 Year Return

11.0%

DSV

-10.8%

DK Logistics

5.2%

DK Market

Return vs Industry: DSV exceeded the Danish Logistics industry which returned -10.8% over the past year.

Return vs Market: DSV exceeded the Danish Market which returned 5.2% over the past year.


Shareholder returns

DSVIndustryMarket
7 Day3.0%2.6%3.4%
30 Day-5.8%-3.4%-5.1%
90 Day-15.7%-21.5%-4.8%
1 Year11.5%11.0%-8.0%-10.8%7.4%5.2%
3 Year79.2%76.9%1.1%-8.3%35.8%24.5%
5 Year186.5%179.8%8.9%-7.2%29.0%12.6%

Price Volatility Vs. Market

How volatile is DSV Panalpina's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is DSV Panalpina undervalued compared to its fair value and its price relative to the market?

34.14x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: DSV (DKK637) is trading above our estimate of fair value (DKK635.8)

Significantly Below Fair Value: DSV is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: DSV is poor value based on its PE Ratio (34.1x) compared to the Logistics industry average (11.8x).

PE vs Market: DSV is poor value based on its PE Ratio (34.1x) compared to the Danish market (12.8x).


Price to Earnings Growth Ratio

PEG Ratio: DSV is poor value based on its PEG Ratio (1.9x)


Price to Book Ratio

PB vs Industry: DSV is overvalued based on its PB Ratio (2.9x) compared to the XE Logistics industry average (1.8x).


Next Steps

Future Growth

How is DSV Panalpina forecast to perform in the next 1 to 3 years based on estimates from 17 analysts?

17.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: DSV's forecast earnings growth (17.5% per year) is above the savings rate (-0.3%).

Earnings vs Market: DSV's earnings (17.5% per year) are forecast to grow faster than the Danish market (12.1% per year).

High Growth Earnings: DSV's earnings are forecast to grow, but not significantly.

Revenue vs Market: DSV's revenue (7.1% per year) is forecast to grow faster than the Danish market (6% per year).

High Growth Revenue: DSV's revenue (7.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: DSV's Return on Equity is forecast to be low in 3 years time (18.7%).


Next Steps

Past Performance

How has DSV Panalpina performed over the past 5 years?

21.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: DSV has high quality earnings.

Growing Profit Margin: DSV's current net profit margins (3.9%) are lower than last year (5.1%).


Past Earnings Growth Analysis

Earnings Trend: DSV's earnings have grown significantly by 21.9% per year over the past 5 years.

Accelerating Growth: DSV's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: DSV had negative earnings growth (-7.5%) over the past year, making it difficult to compare to the Logistics industry average (14.4%).


Return on Equity

High ROE: DSV's Return on Equity (7.5%) is considered low.


Next Steps

Financial Health

How is DSV Panalpina's financial position?


Financial Position Analysis

Short Term Liabilities: DSV's short term assets (DKK28.2B) do not cover its short term liabilities (DKK29.3B).

Long Term Liabilities: DSV's short term assets (DKK28.2B) exceed its long term liabilities (DKK18.9B).


Debt to Equity History and Analysis

Debt Level: DSV's debt to equity ratio (16.2%) is considered satisfactory.

Reducing Debt: DSV's debt to equity ratio has reduced from 103.5% to 16.2% over the past 5 years.

Debt Coverage: DSV's debt is well covered by operating cash flow (86.2%).

Interest Coverage: DSV's interest payments on its debt are well covered by EBIT (10.2x coverage).


Balance Sheet


Next Steps

Dividend

What is DSV Panalpina's current dividend yield, its reliability and sustainability?

0.39%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: DSV's dividend (0.39%) isn’t notable compared to the bottom 25% of dividend payers in the Danish market (1.7%).

High Dividend: DSV's dividend (0.39%) is low compared to the top 25% of dividend payers in the Danish market (4.46%).


Stability and Growth of Payments

Stable Dividend: DSV is not paying a notable dividend for the Danish market, therefore no need to check if payments are stable.

Growing Dividend: DSV is not paying a notable dividend for the Danish market, therefore no need to check if payments are increasing.


Current Payout to Shareholders

Dividend Coverage: DSV is not paying a notable dividend for the Danish market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of DSV's dividend in 3 years as they are not forecast to pay a notable one for the Danish market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.6yrs

Average management tenure


CEO

Jens Andersen (53yo)

11.67s

Tenure

ø20,800,000

Compensation

Mr. Jens Bjørn Andersen has been the Chief Executive Officer at DSV A/S, DSV Solutions Holding A/s and DSV Road Holding A/S since August 1, 2008 and their Member of the Executive Board since 2008. Mr. Ande ...


CEO Compensation Analysis

Compensation vs Market: Jens's total compensation ($USD3.03M) is about average for companies of similar size in the Danish market ($USD3.18M).

Compensation vs Earnings: Jens's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Jens Andersen
CEO & Member of the Executive Board11.67yrsø20.80m0.022% DKK31.8m
Jens Lund
CFO & Member of the Executive Board18.08yrsø15.90m0.018% DKK25.1m
Jesper Riis
Group Chief Information Officer1.33yrsno datano data
Flemming Nielsen
Director of Investor Relations & Corporate Communicationno datano datano data
Soren Schmidt
Chief Executive Officer of Road Divisionno datano datano data
Brian Ejsing
Chief Executive Officer of Solutions Divisionno datano datano data
Keith Pienaar
Chief Executive Officer of DSV Africa3.58yrsno datano data
Rene Olesen
Group Chief Commercial Officer3.58yrsno datano data
Carsten Trolle
Chief Executive Officer of Air & Sea Division3.58yrsno datano data
Michael Marlow
President of DSV Solutions North America3.5yrsno datano data

3.6yrs

Average Tenure

53yo

Average Age

Experienced Management: DSV's management team is considered experienced (3.6 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Jørgen Møller
Deputy Chairmanno datano data0.00085% DKK1.2m
Birgit Nørgaard
Independent Director10.25yrsno data0.00051% DKK729.9k
Annette Sadolin
Independent Director11.25yrsno data0.0042% DKK6.1m
Thomas Plenborg
Independent Chairman1.25yrsno data0.0023% DKK3.2m
Beat Walti
Independent Director0.58yrno data0.00033% DKK472.3k
Marie-Louise Aamund
Independent Director1.08yrsno data0.00036% DKK515.2k
Niels Smedegaard
Director0.083yrno datano data

1.2yrs

Average Tenure

61yo

Average Age

Experienced Board: DSV's board of directors are not considered experienced ( 1.2 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 8.9%.


Top Shareholders

Company Information

DSV Panalpina A/S's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: DSV Panalpina A/S
  • Ticker: DSV
  • Exchange: CPSE
  • Founded: 1976
  • Industry: Air Freight and Logistics
  • Sector: Transportation
  • Market Cap: ø143.119b
  • Shares outstanding: 224.68m
  • Website: https://www.dsv.com

Number of Employees


Location

  • DSV Panalpina A/S
  • Hovedgaden 630
  • PO Box 210
  • Hedehusene
  • Capital Region of Denmark
  • 2640
  • Denmark

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
DSVCPSE (OMX Nordic Exchange Copenhagen)YesRegistered SharesDKDKKJan 1992
DS81DB (Deutsche Boerse AG)YesRegistered SharesDEEURJan 1992
DSDV.FOTCPK (Pink Sheets LLC)YesRegistered SharesUSUSDJan 1992
0JN9LSE (London Stock Exchange)YesRegistered SharesGBDKKJan 1992
DSVCBATS-CHIXE (BATS 'Chi-X Europe')YesRegistered SharesGBDKKJan 1992
0JN9 NBMV (Bolsa Mexicana de Valores)YesRegistered SharesMXMXNJan 1992
DSVWBAG (Wiener Boerse AG)YesRegistered SharesATEURJan 1992
DSDV.YOTCPK (Pink Sheets LLC)UNSPONSORED ADRUSUSDNov 2008

Biography

DSV Panalpina A/S provides transport and logistics services in Europe, the Middle East, Africa, North America, South America, Asia, Australia, and the Pacific. It operates through three segments: Air & Sea, Road, and Solutions. The company offers air freight, air freight compliance and carrier, and sea-air freight services; standard sea freight, and sea freight compliance and carrier services, as well as freight containers. It also provides road freight services, such as part and full loads, groupage, specialized transport, packaging and labeling, and document handling services, as well as online services comprising track and trace services. In addition, the company offers logistics solutions for automotive, consumer products, healthcare, high-tech, and industrial sectors; and inventory management solutions. Further, it provides project transport services, such as industrial projects, renewable energy, government logistics, ship charter, and air charter services; and warehousing services. The company was formerly known as DSV A/S and changed its name to DSV Panalpina A/S in September 2019. DSV Panalpina A/S was founded in 1976 and is headquartered in Hedehusene, Denmark. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/07 21:56
End of Day Share Price2020/04/07 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.