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Ørsted

CPSE:ORSTED
Snowflake Description

Adequate balance sheet with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ORSTED
CPSE
DKK189B
Market Cap
  1. Home
  2. DK
  3. Utilities
Company description

Ørsted A/S develops, constructs, and operates offshore wind farms, bioenergy plants, and waste-to-energy solutions. The last earnings update was 18 days ago. More info.


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ORSTED Share Price and Events
7 Day Returns
-1.6%
CPSE:ORSTED
-0.6%
Europe Electric Utilities
-2.3%
DK Market
1 Year Returns
32.5%
CPSE:ORSTED
13%
Europe Electric Utilities
-0.2%
DK Market
ORSTED Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Ørsted (ORSTED) -1.6% 7.4% 11.2% 32.5% - -
Europe Electric Utilities -0.6% 2% 2.8% 13% 21.3% 26.1%
DK Market -2.3% -0.5% -6.9% -0.2% 11.4% 98.8%
1 Year Return vs Industry and Market
  • ORSTED outperformed the Electric Utilities industry which returned 13% over the past year.
  • ORSTED outperformed the Market in Denmark which returned -0.2% over the past year.
Price Volatility
ORSTED
Industry
5yr Volatility vs Market

Value

 Is Ørsted undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Ørsted to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Ørsted.

CPSE:ORSTED Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 14 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.1%
Perpetual Growth Rate 10-Year DK Government Bond Rate 0.6%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for CPSE:ORSTED
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DK Govt Bond Rate 0.6%
Equity Risk Premium S&P Global 9.4%
Electric Utilities Unlevered Beta Simply Wall St/ S&P Global 0.5
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.5 (1 + (1- 22%) (16.84%))
0.566
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.56% + (0.8 * 9.44%)
8.11%

Discounted Cash Flow Calculation for CPSE:ORSTED using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Ørsted is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

CPSE:ORSTED DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (DKK, Millions) -5,119.60 -9,882.00 -5,105.50 12,001.00 11,481.82
Source Analyst x5 Analyst x3 Analyst x2 Analyst x1 Est @ -4.33%
Present Value
Discounted (@ 8.11%)
-4,735.47 -8,454.72 -4,040.36 8,784.68 7,774.04
Present value of next 5 years cash flows DKK-671.83
CPSE:ORSTED DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= DKK11,481.82 × (1 + 0.56%) ÷ (8.11% – 0.56%)
DKK152,865.25
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= DKK152,865.25 ÷ (1 + 8.11%)5
DKK103,500.99
CPSE:ORSTED Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= DKK-671.83 + DKK103,500.99
DKK102,829.16
Equity Value per Share
(DKK)
= Total value / Shares Outstanding
= DKK102,829.16 / 420.05
DKK244.8
CPSE:ORSTED Discount to Share Price
Calculation Result
Value per share (DKK) From above. DKK244.80
Current discount Discount to share price of DKK451.00
= -1 x (DKK451.00 - DKK244.80) / DKK244.80
-84.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Ørsted is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Ørsted's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Ørsted's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
CPSE:ORSTED PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in DKK DKK23.79
CPSE:ORSTED Share Price ** CPSE (2018-11-16) in DKK DKK451
Europe Electric Utilities Industry PE Ratio Median Figure of 65 Publicly-Listed Electric Utilities Companies 10.94x
Denmark Market PE Ratio Median Figure of 97 Publicly-Listed Companies 16.08x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Ørsted.

CPSE:ORSTED PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= CPSE:ORSTED Share Price ÷ EPS (both in DKK)

= 451 ÷ 23.79

18.96x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Ørsted is overvalued based on earnings compared to the Europe Electric Utilities industry average.
  • Ørsted is overvalued based on earnings compared to the Denmark market.
Price based on expected Growth
Does Ørsted's expected growth come at a high price?
Raw Data
CPSE:ORSTED PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 18.96x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts
-17.7%per year
Europe Electric Utilities Industry PEG Ratio Median Figure of 30 Publicly-Listed Electric Utilities Companies 0.78x
Denmark Market PEG Ratio Median Figure of 42 Publicly-Listed Companies 1.61x

*Line of best fit is calculated by linear regression .

CPSE:ORSTED PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 18.96x ÷ -17.7%

-1.07x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Ørsted earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Ørsted's assets?
Raw Data
CPSE:ORSTED PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in DKK DKK155.34
CPSE:ORSTED Share Price * CPSE (2018-11-16) in DKK DKK451
Europe Electric Utilities Industry PB Ratio Median Figure of 73 Publicly-Listed Electric Utilities Companies 0.94x
Denmark Market PB Ratio Median Figure of 126 Publicly-Listed Companies 1.5x
CPSE:ORSTED PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= CPSE:ORSTED Share Price ÷ Book Value per Share (both in DKK)

= 451 ÷ 155.34

2.9x

* Primary Listing of Ørsted.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Ørsted is overvalued based on assets compared to the Europe Electric Utilities industry average.
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Value checks
We assess Ørsted's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Electric Utilities industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Electric Utilities industry average (and greater than 0)? (1 check)
  5. Ørsted has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Ørsted expected to perform in the next 1 to 3 years based on estimates from 14 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-17.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Ørsted expected to grow at an attractive rate?
  • Ørsted's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 0.6%.
Growth vs Market Checks
  • Ørsted's earnings are expected to decrease over the next 1-3 years, this is below the Denmark market average.
  • Ørsted's revenue growth is positive but not above the Denmark market average.
Annual Growth Rates Comparison
Raw Data
CPSE:ORSTED Future Growth Rates Data Sources
Data Point Source Value (per year)
CPSE:ORSTED Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts -17.7%
CPSE:ORSTED Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 14 Analysts 4%
Europe Electric Utilities Industry Earnings Growth Rate Market Cap Weighted Average 6.2%
Europe Electric Utilities Industry Revenue Growth Rate Market Cap Weighted Average 2.3%
Denmark Market Earnings Growth Rate Market Cap Weighted Average 5.8%
Denmark Market Revenue Growth Rate Market Cap Weighted Average 6.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
CPSE:ORSTED Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below
All numbers in DKK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
CPSE:ORSTED Future Estimates Data
Date (Data in DKK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 78,574 29,528 11,629 2
2021-12-31 73,847 16,545 8,241 4
2020-12-31 73,622 18,827 6,694 11
2019-12-31 72,114 13,448 6,872 12
2018-12-31 66,163 27,429 19,804 9
CPSE:ORSTED Past Financials Data
Date (Data in DKK Millions) Revenue Cash Flow Net Income *
2018-09-30 64,066 2,679 10,012
2018-06-30 62,915 6,754 10,829
2018-03-31 61,981 3,347 13,788
2017-12-31 59,709 6,568 12,615
2017-09-30 58,395 11,998 6,702
2017-06-30 59,947 7,253 9,233
2017-03-31 57,156 8,325 6,202
2016-12-31 57,393 15,410 10,079
2016-09-30 54,811 16,725 5,590
2016-06-30 62,529 17,763 5,880
2016-03-31 67,420 21,057 6,516
2015-12-31 66,708 13,570 1,109

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Ørsted's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Ørsted's revenue is expected to grow by 4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
CPSE:ORSTED Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below

All data from Ørsted Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

CPSE:ORSTED Future Estimates Data
Date (Data in DKK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 27.59 30.21 25.00 3.00
2021-12-31 18.97 22.53 14.25 4.00
2020-12-31 17.29 23.00 12.08 10.00
2019-12-31 16.14 29.30 12.00 14.00
2018-12-31 46.72 48.53 43.88 8.00
CPSE:ORSTED Past Financials Data
Date (Data in DKK Millions) EPS *
2018-09-30 23.79
2018-06-30 25.90
2018-03-31 32.78
2017-12-31 30.02
2017-09-30 15.90
2017-06-30 21.93
2017-03-31 14.79
2016-12-31 24.05
2016-09-30 13.40
2016-06-30 14.09
2016-03-31 15.60
2015-12-31 2.65

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Ørsted is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Ørsted's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Ørsted has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Ørsted performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Ørsted's growth in the last year to its industry (Electric Utilities).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Ørsted has delivered over 20% year on year earnings growth in the past 5 years.
  • Ørsted's 1-year earnings growth is less than its 5-year average (49.4% vs 54.1%)
  • Ørsted's earnings growth has exceeded the Europe Electric Utilities industry average in the past year (49.4% vs -0.3%).
Earnings and Revenue History
Ørsted's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Ørsted Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

CPSE:ORSTED Past Revenue, Cash Flow and Net Income Data
Date (Data in DKK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 64,066.00 10,012.00 8,249.00
2018-06-30 62,915.00 10,829.00 7,699.00
2018-03-31 61,981.00 13,788.00 7,535.00
2017-12-31 59,709.00 12,615.00 7,438.00
2017-09-30 58,395.00 6,702.00 7,400.00
2017-06-30 59,947.00 9,233.00 7,366.00
2017-03-31 57,156.00 6,202.00 7,067.00
2016-12-31 57,393.00 10,079.00 7,166.00
2016-09-30 54,811.00 5,590.00 5,397.00
2016-06-30 62,529.00 5,880.00 5,747.00
2016-03-31 67,420.00 6,516.00 6,406.00
2015-12-31 66,708.00 1,109.00 6,573.00
2015-09-30 76,716.00 -569.00 9,389.00
2015-06-30 67,876.00 -5,370.00 9,712.00
2015-03-31 65,891.00 -6,029.00 10,238.00
2014-12-31 71,829.00 -2,976.00 10,483.00
2014-09-30 70,255.00 805.00 10,858.00
2014-06-30 71,664.00 2,106.00 10,753.00
2014-03-31 72,521.00 2,432.00 10,607.00
2013-12-31 72,199.00 -2,327.00 10,446.00
2013-09-30 68,757.00 -1,851.00 10,562.00
2013-06-30 70,599.00 -4,799.00 11,114.00
2013-03-31 70,773.00 -5,505.00 11,293.00
2012-12-31 65,860.00 -4,686.00 11,780.00
2012-09-30 69,928.00 -1,509.00 17,214.00
2012-06-30 66,913.00 3,428.00 15,106.00
2012-03-31 64,817.00 6,559.00 13,266.00
2011-12-31 58,437.00 3,796.00 11,477.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Ørsted has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Ørsted used its assets more efficiently than the Europe Electric Utilities industry average last year based on Return on Assets.
  • Ørsted's use of capital has not improved over the past 3 years (Return on Capital Employed).
X
Past performance checks
We assess Ørsted's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Electric Utilities industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Ørsted has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Ørsted's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Ørsted's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Ørsted is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Ørsted's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Ørsted's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Ørsted Company Filings, last reported 1 month ago.

CPSE:ORSTED Past Debt and Equity Data
Date (Data in DKK Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 68,701.00 31,904.00 22,309.00
2018-06-30 69,744.00 33,397.00 27,686.00
2018-03-31 70,823.00 33,043.00 27,465.00
2017-12-31 71,837.00 29,636.00 29,046.00
2017-09-30 64,203.00 22,837.00 10,914.00
2017-06-30 62,160.00 23,726.00 11,941.00
2017-03-31 58,112.00 24,265.00 17,010.00
2016-12-31 57,500.00 24,183.00 18,794.00
2016-09-30 57,517.00 28,339.00 21,977.00
2016-06-30 54,695.00 28,644.00 24,029.00
2016-03-31 56,682.00 35,547.00 32,576.00
2015-12-31 51,736.00 36,931.00 23,744.00
2015-09-30 64,973.00 39,545.00 24,710.00
2015-06-30 63,152.00 38,419.00 27,991.00
2015-03-31 62,937.00 41,284.00 28,443.00
2014-12-31 61,533.00 36,715.00 29,863.00
2014-09-30 65,696.00 38,254.00 28,624.00
2014-06-30 67,235.00 36,642.00 28,474.00
2014-03-31 67,603.00 45,385.00 37,995.00
2013-12-31 51,543.00 46,654.00 18,474.00
2013-09-30 52,332.00 51,911.00 17,208.00
2013-06-30 49,089.00 49,777.00 15,523.00
2013-03-31 49,608.00 54,579.00 12,882.00
2012-12-31 50,016.00 54,126.00 15,858.00
2012-09-30 52,620.00 55,053.00 13,814.00
2012-06-30 56,088.00 51,261.00 11,073.00
2012-03-31 58,394.00 48,295.00 16,400.00
2011-12-31 57,740.00 40,227.00 10,615.00
  • Ørsted's level of debt (46.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (99.1% vs 46.4% today).
  • Debt is not well covered by operating cash flow (8.4%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 3.3x coverage).
X
Financial health checks
We assess Ørsted's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Ørsted has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2%
Current annual income from Ørsted dividends. Estimated to be 2.38% next year.
If you bought DKK2,000 of Ørsted shares you are expected to receive DKK40 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Ørsted's pays a higher dividend yield than the bottom 25% of dividend payers in Denmark (1.59%).
  • Ørsted's dividend is below the markets top 25% of dividend payers in Denmark (4.01%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
CPSE:ORSTED Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below
Europe Electric Utilities Industry Average Dividend Yield Market Cap Weighted Average of 42 Stocks 4.7%
Denmark Market Average Dividend Yield Market Cap Weighted Average of 71 Stocks 2.4%
Denmark Minimum Threshold Dividend Yield 10th Percentile 1%
Denmark Bottom 25% Dividend Yield 25th Percentile 1.6%
Denmark Top 25% Dividend Yield 75th Percentile 4%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

CPSE:ORSTED Future Dividends Estimate Data
Date (Data in DKK) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 13.11 4.00
2021-12-31 12.16 5.00
2020-12-31 11.10 16.00
2019-12-31 10.29 17.00
2018-12-31 9.72 16.00
CPSE:ORSTED Past Annualized Dividends Data
Date (Data in DKK) Dividend per share (annual) Avg. Yield (%)
2018-03-08 9.000 2.239
2017-02-07 6.000 1.921

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Ørsted has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Ørsted only paid a dividend in the past 2 years.
Current Payout to shareholders
What portion of Ørsted's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.6x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (2x coverage).
X
Income/ dividend checks
We assess Ørsted's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Ørsted afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Ørsted has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Ørsted's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Henrik Poulsen
COMPENSATION DKK15,897,000
AGE 51
TENURE AS CEO 6.3 years
CEO Bio

Mr. Henrik Poulsen, M.Sc. has been the President and Chief Executive Officer at Ørsted A/S since August 27, 2012. Mr. Poulsen serves as the Chief Executive Officer and Member of Management Board at DONG Energy Power (UK) Limited. Mr. Poulsen has been Chief Executive Officer of Dong Energy A/S since August 27, 2012 and serves as Member of Executive Board at Ørsted Bioenergy & Thermal Power A/S. He serves as a Registered Manager of DONG Energy with the Danish Business Authority. Mr. Poulsen serves as an Industrial Advisor at EQT Partners AB. Mr. Poulsen served as an Executive President at Ørsted Bioenergy & Thermal Power A/S since 2012. He served as the Chief Executive Officer at TDC A/S from November 2008 to October 31, 2012 and served as its President from 2008 to October 31, 2012. Mr. Poulsen served as an Executive Vice President of Wind Power at DONG Energy AS from November 2012 to March 4, 2013. Mr. Poulsen served as an Executive Vice President of Markets, Products and Marketing at LEGO A/S from 2005 to September 2006. He served as a Senior Vice President of European and Emerging Markets at Lego A/S. Mr. Poulsen served as Senior Engagement Manager at McKinsey & Co. from 1996 to 1999. He served as Controller at Novo Nordisk A/S from 1994 to 1995. From 1995 to 1996, Mr. Poulsen served at Aarsø Nielsen & Partners as Senior Consultant. He was an Operating Partner at Kohlberg Kravis Roberts & Co. from 2006 to 2008. From 1999 to 2006, Mr. Poulsen served at LEGO, including as Vice President of Business Development from 1999 to 2000, Senior Vice President of Global Segment +8 from 2000 to 2002, Senior Vice President of Global Innovation and Marketing from 2002 to 2003, Regional Managing Director of Europe and Asia from 2004 to 2005 and Executive Vice President of Markets and Products from 2005 to 2006. Mr. Poulsen served as an Operating Executive at KKR Capstone from 2006 to 2008. He serves as the Chairman of the Board at YouSeeA/S. Mr. Poulsen served as the Chairman of Sunrise Communications Group AG until November 8, 2010. He has been Deputy Chairman of Kinnevik AB since August 6, 2017. He served as Independent Vice Chairman at Chr. Hansen Holding A/S. He served as Deputy Chairman of Danfoss A/S since 2014 until January 6, 2016. He has been an Independent Director at ISS Global A/S since August 2013. He has been a Director of Kinnevik AB since May 8, 2017. He has been an Independent Director of ISS A/S since August 21, 2013. He has been an Independent Director of Chr. Hansen A/S since March 2010. Mr. Poulsen serves as a Director at Falck A/S and Danmark-AmerikaFondet. Mr. Poulsen serves as a Member of Advisory Board at Danske Bank A/S. He served as a Director at Danfoss since 2014 until January 6, 2016. Mr. Poulsen served as an Independent Director of Chr. Hansen Holding A/S since March 2010. He served as a Director of Falck Holding A/S. He is a Member of Denmark-America foundation. Mr. Poulsen holds a B.Sc. in International Business and an M.Sc. in Finance and Accounting in 1994 from Aarhus School of Business Denmark.

CEO Compensation
  • Henrik's compensation has been consistent with company performance over the past year.
  • Henrik's remuneration is about average for companies of similar size in Denmark.
Management Team Tenure

Average tenure and age of the Ørsted management team in years:

3.5
Average Tenure
51.5
Average Age
  • The tenure for the Ørsted management team is about average.
Management Team

Henrik Poulsen

TITLE
President & CEO
COMPENSATION
DKK16M
AGE
51
TENURE
6.3 yrs

Marianne Wiinholt

TITLE
Chief Financial Officer
COMPENSATION
DKK8M
AGE
53
TENURE
5.1 yrs

Henrik Lund

TITLE
Head of Investor Relations
AGE
52
TENURE
2.7 yrs

Martin Barlebo

TITLE
Head of Communications
AGE
47
TENURE
3.7 yrs

Ole Sørensen

TITLE
Executive VP and Executive VP of Onshore Wind
AGE
46
TENURE
0.8 yrs

Thomas Dalsgaard

TITLE
Executive VP & CEO of Bioenergy and Thermal Power
AGE
52
TENURE
7.1 yrs

Morten Buchgreitz

TITLE
Executive VP & CEO of Customer Solutions
AGE
51
TENURE
5.7 yrs

Jakob Boss

TITLE
Senior Vice President of Corporate Strategy & Stakeholder Relations
TENURE
3.4 yrs

Anders Pedersen

TITLE
Head of Aalborg Office
TENURE
2.6 yrs

Anders Lindberg

TITLE
Executive Vice President of Offshore Wind EPC & QHSE
AGE
53
TENURE
0.4 yrs
Board of Directors Tenure

Average tenure and age of the Ørsted board of directors in years:

5.6
Average Tenure
59
Average Age
  • The tenure for the Ørsted board of directors is about average.
Board of Directors

Thomas Andersen

TITLE
Chairman of the Board
COMPENSATION
DKK1M
AGE
63
TENURE
4.3 yrs

Lene Skole-Sørensen

TITLE
Deputy Chairman
COMPENSATION
DKK803K
AGE
59
TENURE
3.7 yrs

Benny Loft

TITLE
Independent Director
COMPENSATION
DKK512K
AGE
53
TENURE
6.6 yrs

Poul Dreyer

TITLE
Employee Representative Director
COMPENSATION
DKK320K
AGE
54
TENURE
4.7 yrs

Hanne Andersen

TITLE
Employee Elected Board Member
COMPENSATION
DKK320K
AGE
58
TENURE
11.6 yrs

Mogens Vinther

TITLE
Board Observer
COMPENSATION
DKK75K
AGE
71

Pia Gjellerup

TITLE
Independent Director
COMPENSATION
DKK400K
AGE
59
TENURE
6.6 yrs

Benny Gøbel

TITLE
Employee Representative Director
COMPENSATION
DKK320K
AGE
51
TENURE
7.8 yrs

Lynda Armstrong

TITLE
Independent Director
COMPENSATION
DKK320K
AGE
68
TENURE
3.7 yrs

Michael Bruun

TITLE
Board Observer
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (DKK) Value (DKK)
X
Management checks
We assess Ørsted's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Ørsted has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

External News
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Simply Wall St News

Could Ørsted A/S's (CPH:ORSTED) Investor Composition Influence The Stock Price?

If you want to know who really controls Ørsted A/S (CPH:ORSTED), then you'll have to look at the makeup of its share registry. … Institutions will often hold stock in bigger companies, and we expect to see insiders owning a noticeable percentage of the smaller ones. … institutions are noticeable on the share registry.

Simply Wall St -

Is Ørsted A/S (CPH:ORSTED) Potentially Undervalued?

received a lot of attention from a substantial price movement on the CPSE over the last few months, increasing to DKK438.2 at one point, and dropping to the lows of DKK385. … A question to answer is whether Ørsted's current trading price of DKK414.6 reflective of the actual value of the? … Let’s take a look at Ørsted’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

Boasting A 17% Return On Equity, Is Ørsted A/S (CPH:ORSTED) A Top Quality Stock?

While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. … Another way to think of that is that for every DKK1 worth of equity in the company, it was able to earn DKK0.17. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Has Ørsted A/S (CPH:ORSTED) Improved Earnings Growth In Recent Times?

Below, I will examine Ørsted A/S's (CPH:ORSTED) track record on a high level, to give you some insight into how the company has been performing against its long term trend and its industry peers. … Check out our latest analysis for Ørsted? … Could ORSTED beat the long-term trend and outperform its industry.

Simply Wall St -

Will Ørsted A/S's (CPH:ORSTED) Earnings Grow In Next 12 Months?

In March 2018, Ørsted A/S (CPH:ORSTED) released its earnings update. … with profits predicted to drop by -6.43% next year … the past 5-year average growth rate of 32.13%.

Simply Wall St -

How Financially Strong Is Ørsted A/S (CPH:ORSTED)?

the key to their continued success lies in its financial health. … I will provide an overview of Ørsted’s financial liquidity and leverage to give you an idea of Ørsted’s position to take advantage of potential acquisitions or comfortably endure future downturns. … Note that this commentary is very high-level and solely focused on financial health, so I suggest you dig deeper yourself

Simply Wall St -

Why Ørsted A/S (CPH:ORSTED) Is An Attractive Investment

Building up an investment case requires looking at a stock holistically. … Today I've chosen to put the spotlight on Ørsted A/S (CPH:ORSTED) due to its excellent fundamentals in more than one area. … If you're interested in understanding beyond my high-level commentary,

Simply Wall St -

Should You Be Tempted To Sell Ørsted A/S (CPH:ORSTED) At Its Current PE Ratio?

ORSTED is priced at a sensible multiple of 12.2x based on its prior year’s earnings,. … which isn't too different to the 12.6x average multiple of the DK Electric Utilities. … However, a static multiple such as PE is never conclusive on its own.

Simply Wall St -

Have Investors Priced In Ørsted A/S's (CPH:ORSTED) Growth?

saw significant share price volatility over the past couple of months on the CPSE, rising to the highs of DKK415.8 and falling to the lows of DKK367.4. … This high level of volatility gives investors the opportunity to enter into the stock, and potentially buy at an artificially low price? … Let’s take a look at Ørsted’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

Is Ørsted A/S's (CPH:ORSTED) 20.50% ROE Strong Compared To Its Industry?

and want to better understand how you can grow your money by investing in Ørsted A/S (CPH:ORSTED). … Ørsted A/S (CPH:ORSTED) outperformed the electric utilities industry on the basis of its ROE – producing a higher 20.50% relative to the peer average of 8.59% over the past 12 months. … But ROE does not capture any debt, so we only see high profits and low equity, which is great on the surface

Simply Wall St -

Company Info

Map
Description

Ørsted A/S develops, constructs, and operates offshore wind farms, bioenergy plants, and waste-to-energy solutions. It operates through Wind Power, Bioenergy & Thermal Power, and Distribution & Customer Solutions segments. The Wind Power segment develops, constructs, owns, and operates offshore wind farms in the United Kingdom, Germany, Denmark, the Netherlands, the United States, and Taiwan. The Bioenergy & Thermal Power segment engages in the generation of heat and power from combined heat and power plants in Denmark and a gas-fired power plant in the Netherlands, as well as a renescience plant in the United Kingdom. The Distribution & Customer Solutions segment distributes and sells power and gas in the wholesale and retail markets in Denmark, Sweden, Germany, and the United Kingdom. Ørsted A/S has a research agreement with the University of Oxford to optimize the design of foundation structures for offshore wind turbines. The company was formerly known as DONG Energy A/S and changed its name to Ørsted A/S in November 2017. Ørsted A/S was founded in 1972 and is headquartered in Fredericia, Denmark.

Details
Name: Ørsted A/S
ORSTED
Exchange: CPSE
Founded: 1972
DKK189,440,374,376
420,045,176
Website: http://orsted.com
Address: Ørsted A/S
Kraftværksvej 53 - Skærbæk,
Fredericia,
Region of Southern Denmark, 7000,
Denmark
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
CPSE ORSTED Share Capital OMX Nordic Exchange Copenhagen DK DKK 09. Jun 2016
OTCPK DOGE.F Share Capital Pink Sheets LLC US USD 09. Jun 2016
DB D2G Share Capital Deutsche Boerse AG DE EUR 09. Jun 2016
LSE 0RHE Share Capital London Stock Exchange GB DKK 09. Jun 2016
OTCPK DNNG.Y UNSPONSORED ADR Pink Sheets LLC US USD 26. Aug 2016
BDL 094337054 6.25%-FRN SUB 26/06/3013 EUR1000 Bourse de Luxembourg LU EUR 19. Jun 2013
DB D2GF 6.25%-FRN SUB 26/06/3013 EUR1000 Deutsche Boerse AG DE EUR 19. Jun 2013
BST A1HL4H 6.25%-FRN SUB 26/06/3013 EUR1000 Boerse-Stuttgart DE EUR 19. Jun 2013
Number of employees
Current staff
Staff numbers
5,882
Ørsted employees.
Industry
Electric Utilities
Utilities
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2018/11/19 09:20
End of day share price update: 2018/11/16 00:00
Last estimates confirmation: 2018/11/16
Last earnings filing: 2018/11/01
Last earnings reported: 2018/09/30
Last annual earnings reported: 2017/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.