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Danske Bank

LSE:0NVC
Snowflake Description

Average dividend payer and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
0NVC
LSE
DKK108B
Market Cap
  1. Home
  2. GB
  3. Banks
Company description

Danske Bank A/S provides various banking products and services to small and medium-sized businesses and corporate, institutional, and personal customers. The last earnings update was 83 days ago. More info.


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0NVC Share Price and Events
7 Day Returns
-2.1%
LSE:0NVC
-1.3%
GB Banks
1.2%
GB Market
1 Year Returns
-42.6%
LSE:0NVC
-9.9%
GB Banks
2.5%
GB Market
0NVC Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Danske Bank (0NVC) -2.1% 4.6% 1% -42.6% -29% -16.9%
GB Banks -1.3% 6.6% 5.5% -9.9% 14.8% -12.4%
GB Market 1.2% 5.3% 9.8% 2.5% 16.9% 6.7%
1 Year Return vs Industry and Market
  • 0NVC underperformed the Banks industry which returned -9.9% over the past year.
  • 0NVC underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned 2.5% over the past year.
Price Volatility
0NVC
Industry
5yr Volatility vs Market

0NVC Value

 Is Danske Bank 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 Danske Bank 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 Danske Bank.

LSE:0NVC Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 15 analysts.
= Stable Book Value * Return on Equity
= DKK189.97 * 9.5%
DKK17.96
Book Value of Equity per Share Weighted future Book Value estimates from 13 analysts. DKK189.97
Discount Rate (Cost of Equity) See below 13.1%
Perpetual Growth Rate 10-Year GB Government Bond Rate 1.2%

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 LSE:0NVC
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.6
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.595 (1 + (1- 22%) (1614.5%))
5.75
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (2 * 5.96%)
13.15%

Discounted Cash Flow Calculation for LSE:0NVC using Excess Returns Model Model

The calculations below outline how an intrinsic value for Danske Bank is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

LSE:0NVC Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (9.5% – 13.15%) * DKK189.97)
DKK-7.02
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= DKK-7.02 / (13.15% - 1.23%)
DKK-58.89
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= DKK189.97 + DKK-58.89
DKK131.08
LSE:0NVC Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in LSE:0NVC represents 0.99862x of CPSE:DANSKE
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.99862x
Value per Share
(Listing Adjusted, DKK)
= Value per Share (DKK) x Listing Adjustment Factor
= DKK 131.08 x 0.99862
DKK130.90
Value per share (DKK) From above. DKK130.90
Current discount Discount to share price of DKK126.38
= -1 x (DKK126.38 - DKK130.90) / DKK130.90
3.5%

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

Current Discount
Amount off the current price Danske Bank is available for.
Intrinsic value
3%
Share price is DKK126.38 vs Future cash flow value of DKK130.9
Current Discount Checks
For Danske Bank to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Danske Bank's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Danske Bank's share price is below the future cash flow value, but not at a substantial discount (< 40%).
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 Danske Bank's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Danske Bank's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
LSE:0NVC PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in DKK DKK15.96
CPSE:DANSKE Share Price ** CPSE (2019-04-25) in DKK DKK126.55
United Kingdom of Great Britain and Northern Ireland Banks Industry PE Ratio Median Figure of 15 Publicly-Listed Banks Companies 9.92x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 797 Publicly-Listed Companies 16.3x

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

** Primary Listing of Danske Bank.

LSE:0NVC PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 126.55 ÷ 15.96

7.93x

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

  • Danske Bank is good value based on earnings compared to the GB Banks industry average.
  • Danske Bank is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Danske Bank's expected growth come at a high price?
Raw Data
LSE:0NVC PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.93x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 17 Analysts
4.3%per year
United Kingdom of Great Britain and Northern Ireland Banks Industry PEG Ratio Median Figure of 14 Publicly-Listed Banks Companies 0.84x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 566 Publicly-Listed Companies 1.5x

*Line of best fit is calculated by linear regression .

LSE:0NVC PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 7.93x ÷ 4.3%

1.83x

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

  • Danske Bank is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Danske Bank's assets?
Raw Data
LSE:0NVC PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in DKK DKK191.01
CPSE:DANSKE Share Price * CPSE (2019-04-25) in DKK DKK126.55
United Kingdom of Great Britain and Northern Ireland Banks Industry PB Ratio Median Figure of 16 Publicly-Listed Banks Companies 0.87x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,367 Publicly-Listed Companies 1.52x
LSE:0NVC PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 126.55 ÷ 191.01

0.66x

* Primary Listing of Danske Bank.

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

  • Danske Bank is good value based on assets compared to the GB Banks industry average.
X
Value checks
We assess Danske Bank'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 Banks 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 Banks industry average (and greater than 0)? (1 check)
  5. Danske Bank has a total score of 3/6, 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.

0NVC Future Performance

 How is Danske Bank expected to perform in the next 1 to 3 years based on estimates from 17 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
4.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Danske Bank expected to grow at an attractive rate?
  • Danske Bank's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
  • Danske Bank's earnings growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
  • Danske Bank's revenue growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
LSE:0NVC Future Growth Rates Data Sources
Data Point Source Value (per year)
LSE:0NVC Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 17 Analysts 4.3%
LSE:0NVC Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 17 Analysts 0.5%
United Kingdom of Great Britain and Northern Ireland Banks Industry Earnings Growth Rate Market Cap Weighted Average 12.9%
United Kingdom of Great Britain and Northern Ireland Banks Industry Revenue Growth Rate Market Cap Weighted Average 4.5%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 11%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*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
LSE:0NVC Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 17 Analyst Estimates (S&P Global) See Below
All numbers in DKK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
LSE:0NVC Future Estimates Data
Date (Data in DKK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 48,726 1
2021-12-31 47,930 15,805 14
2020-12-31 46,836 15,547 17
2019-12-31 45,745 14,962 15
LSE:0NVC Past Financials Data
Date (Data in DKK Millions) Revenue Cash Flow Net Income *
2018-12-31 47,332 -156,927 13,908
2018-09-30 49,145 -65,263 16,137
2018-06-30 50,040 -64,792 18,586
2018-03-31 50,612 -54,272 19,145
2017-12-31 52,009 45,399 20,114
2017-09-30 52,036 -10,071 20,074
2017-06-30 51,765 96,824 20,083
2017-03-31 51,301 100,991 19,747
2016-12-31 49,830 52,373 19,195
2016-09-30 48,443 96,396 13,654
2016-06-30 46,796 -20,400 12,417
2016-03-31 46,583 82,972 12,467

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Danske Bank's earnings are expected to grow by 4.3% yearly, however this is not considered high growth (20% yearly).
  • Danske Bank's revenue is expected to grow by 0.5% 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
LSE:0NVC Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 17 Analyst Estimates (S&P Global) See Below

All data from Danske Bank Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:0NVC Future Estimates Data
Date (Data in DKK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31 18.58 20.34 16.62 10.00
2020-12-31 18.03 21.40 16.07 13.00
2019-12-31 17.25 18.88 13.85 11.00
LSE:0NVC Past Financials Data
Date (Data in DKK Millions) EPS *
2018-12-31 15.96
2018-09-30 18.14
2018-06-30 20.62
2018-03-31 21.10
2017-12-31 21.97
2017-09-30 21.76
2017-06-30 21.45
2017-03-31 20.83
2016-12-31 20.05
2016-09-30 14.07
2016-06-30 12.77
2016-03-31 12.71

*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.
  • Danske Bank is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Danske Bank'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 United Kingdom of Great Britain and Northern Ireland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United Kingdom of Great Britain and Northern Ireland 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.
Danske Bank has a total score of 1/6, 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.

0NVC Past Performance

  How has Danske Bank 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 Danske Bank's growth in the last year to its industry (Banks).
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.
  • Danske Bank's year on year earnings growth rate has been positive over the past 5 years.
  • Danske Bank's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Danske Bank's 1-year earnings growth is negative, it can't be compared to the GB Banks industry average.
Earnings and Revenue History
Danske Bank'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 Danske Bank Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:0NVC Past Revenue, Cash Flow and Net Income Data
Date (Data in DKK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 47,332.00 13,908.00 26,519.00
2018-09-30 49,145.00 16,137.00 25,876.00
2018-06-30 50,040.00 18,586.00 25,876.00
2018-03-31 50,612.00 19,145.00 25,876.00
2017-12-31 52,009.00 20,114.00 25,876.00
2017-09-30 52,036.00 20,074.00 24,647.00
2017-06-30 51,765.00 20,083.00 24,647.00
2017-03-31 51,301.00 19,747.00 24,647.00
2016-12-31 49,830.00 19,195.00 24,647.00
2016-09-30 48,443.00 13,654.00 24,897.00
2016-06-30 46,796.00 12,417.00 24,897.00
2016-03-31 46,583.00 12,467.00 24,897.00
2015-12-31 47,071.00 12,516.00 24,897.00
2015-09-30 45,674.00 6,316.00 25,573.00
2015-06-30 45,735.00 6,004.00 25,573.00
2015-03-31 45,288.00 5,768.00 25,573.00
2014-12-31 42,747.00 3,688.00 25,573.00
2014-09-30 41,260.00 13,718.00
2014-06-30 38,967.00 12,060.00
2014-03-31 36,892.00 10,173.00
2013-12-31 35,629.00 8,892.00
2013-09-30 36,520.00 6,335.00 6,548.00
2013-06-30 36,797.00 6,103.00 13,047.00
2013-03-31 36,995.00 5,415.00 20,032.00
2012-12-31 37,982.00 9,526.00
2012-09-30 34,297.00 3,778.00 27,166.00
2012-06-30 31,531.00 2,091.00 26,600.00

*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.
  • Danske Bank has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Danske Bank used its assets less efficiently than the GB Banks industry average last year based on Return on Assets.
  • Unable to establish if Danske Bank improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Danske Bank'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 Banks 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.
Danske Bank has a total score of 1/6, 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.

0NVC Health

 How is Danske Bank's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Danske Bank'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.
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 Danske Bank Company Filings, last reported 3 months ago.

LSE:0NVC Past Debt and Equity Data
Date (Data in DKK Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 163,276.00 1,746,480.00 909,895.00
2018-09-30 160,703.00 1,638,598.00 689,938.00
2018-06-30 160,897.00 1,644,185.00 795,471.00
2018-03-31 159,637.00 1,636,401.00 785,228.00
2017-12-31 168,256.00 1,813,231.00 961,343.00
2017-09-30 165,380.00 1,648,662.00 948,266.00
2017-06-30 162,898.00 1,705,339.00 1,009,252.00
2017-03-31 160,538.00 1,695,206.00 994,855.00
2016-12-31 166,615.00 1,840,102.00 962,432.00
2016-09-30 160,265.00 1,646,060.00 1,013,958.00
2016-06-30 158,089.00 1,800,288.00 985,277.00
2016-03-31 156,105.00 1,776,076.00 919,337.00
2015-12-31 160,830.00 1,733,276.00 847,344.00
2015-09-30 161,598.00 1,678,452.00 950,017.00
2015-06-30 160,055.00 1,711,343.00 965,165.00
2015-03-31 157,962.00 1,904,919.00 1,198,990.00
2014-12-31 152,383.00 1,745,994.00 1,103,935.00
2014-09-30 158,739.00 1,691,312.00 1,113,309.00
2014-06-30 155,912.00 1,525,514.00 1,072,406.00
2014-03-31 151,817.00 1,556,104.00 1,132,902.00
2013-12-31 145,657.00 1,122,846.00 1,011,801.00
2013-09-30 143,317.00 1,659,397.00 1,059,025.00
2013-06-30 141,624.00 1,710,928.00 787,709.00
2013-03-31 139,568.00 1,886,486.00 927,812.00
2012-12-31 138,000.00 1,263,353.00 1,120,143.00
2012-09-30 129,713.00 2,047,404.00 1,292,290.00
2012-06-30 128,118.00 1,491,945.00 1,241,444.00
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Danske Bank has an acceptable proportion of non-loan assets held.
  • Danske Bank's liabilities are made up of primarily higher risk sources of funding.
  • Danske Bank has advanced significantly more loans than the customer deposits it holds (i.e. bank has borrowed additional funds to lend).
  • Danske Bank's level of assets compared to its equity is very high (i.e. bank has borrowed heavily to fund lending).
  • Danske Bank has a low allowance for bad loans.
  • Danske Bank has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess Danske Bank'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. Danske Bank has a total score of 2/6, 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.

0NVC Dividends

 What is Danske Bank'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
6.72%
Current annual income from Danske Bank dividends. Estimated to be 7.53% next year.
If you bought DKK2,000 of Danske Bank shares you are expected to receive DKK134 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?
  • Danske Bank's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.02%).
  • Danske Bank's dividend is above the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.1%).
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
LSE:0NVC 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 17 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Banks Industry Average Dividend Yield Market Cap Weighted Average of 14 Stocks 5%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 705 Stocks 4.2%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 5.1%

Industry and Market average data is calculated daily.

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

LSE:0NVC Future Dividends Estimate Data
Date (Data in DKK) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 9.20 1.00
2021-12-31 10.76 14.00
2020-12-31 9.18 18.00
2019-12-31 8.92 18.00
LSE:0NVC Past Annualized Dividends Data
Date (Data in DKK) Dividend per share (annual) Avg. Yield (%)
2019-02-01 8.500 6.786
2018-02-20 10.000 5.826
2017-03-16 9.000 3.667
2016-02-22 8.000 4.060
2015-03-19 5.500 2.834
2015-02-03 5.500 3.173
2014-02-06 2.000 1.285
2011-02-10 0.000 0.000
2009-11-03 0.000 0.000
2009-08-11 0.000 0.000
2009-05-05 0.000 0.000

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

  • Whilst dividend payments have been stable, Danske Bank has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Danske Bank only paid a dividend in the past 5 years.
Current Payout to shareholders
What portion of Danske Bank's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.9x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.8x coverage).
X
Income/ dividend checks
We assess Danske Bank'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 Danske Bank afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Danske Bank has a total score of 4/6, see the detailed checks below.


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

0NVC Management

 What is the CEO of Danske Bank'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
Jesper Nielsen
COMPENSATION DKK8,200,000
AGE 50
TENURE AS CEO 0.5 years
CEO Bio

Mr. Jesper Nielsen is interim CEO at Danske Bank A/S since October 1, 2018. Mr. Jesper has been Head of Banking DK & Member of Executive Board at Danske Bank A/S since May 2, 2018 and since October 1, 2016 Respectively. Mr. Nielsen served as Executive Vice President and Head of Business Development for Personal Banking at Danske Bank A/S from 2012 to October 1, 2016. Mr. Nielsen served as Deputy Chief Executive Officer and Head of Business Development at Danske Bank A/S, Irish Branch. Mr. Nielsen was Deputy Chief Executive Officer and Head of Business Development at National Irish Bank Limited from April 2010 2012. Mr. Nielsen was also responsible for managing all aspects of business development including channel development, product development and strategic marketing. From 2007 to 2010, he was Senior Vice President Danske Bank, Group Business Development, Strategy & Planning. From 2004 to 2007, he was First Vice President Danske Bank, Group Finance, Strategic Analysis. From 2003 to 2004, he was First Vice President Danske Bank Denmark, Strategy & Analysis. From 2002 to 2003, he was First Vice President Danske Bank Denmark, Sales & Marketing. From 2000 to 2002, he was First Vice President Danske Bank Denmark, Product Development. In February 2011, he also took over responsibility for the Corporate Banking division at National Irish Bank. Mr. Nielsen was part of the team that led the implementation of the restructuring programme which National Irish Bank completed. He has worked with Danske for 15 years, holding a number senior management positions in the Danske Bank Group including, Retail Banking, Finance and Product Development. He served as Head of Strategy and Analysis in Danske Bank Group ’s Business Development division. He has been Chairman of Realkredit Danmark A/S since April 26, 2018. He served as Vice Chairman of Realkredit Danmark A/S from March 6, 2017 to April 26, 2018. He holds a Masters of Science in Economics in 1996. He is Chairman at e-nettet, MobilePay A/S and MobilePay Denmark A/S.

CEO Compensation
  • Jesper's compensation has been consistent with company performance over the past year.
  • Jesper's remuneration is lower than average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure

Average tenure and age of the Danske Bank management team in years:

1.3
Average Tenure
50
Average Age
  • The average tenure for the Danske Bank management team is less than 2 years, this suggests a new team.
Management Team

Jesper Nielsen

TITLE
Interim CEO
COMPENSATION
DKK8M
AGE
50
TENURE
0.5 yrs

Christian Baltzer

TITLE
CFO & Member of Executive Board
COMPENSATION
DKK3M
AGE
40
TENURE
0.5 yrs

Glenn Söderholm

TITLE
Head of Banking Nordic & Member of Executive Board
COMPENSATION
DKK9M
AGE
54
TENURE
5.4 yrs

Jim Ditmore

TITLE
Head of Group Services & Group IT
COMPENSATION
DKK9M
AGE
58
TENURE
5 yrs

Jakob Groot

TITLE
Head of Corporates & Institutions and Member of Executive Board
COMPENSATION
DKK8M
AGE
51
TENURE
0.9 yrs

Jacob Aarup-Andersen

TITLE
Head of Wealth Management & Member of Executive Board
COMPENSATION
DKK9M
AGE
41
TENURE
3 yrs

Carsten Egeriis

TITLE
Head of Group Risk Management & Member of Executive Board
COMPENSATION
DKK8M
AGE
42
TENURE
1.7 yrs

Frederik Christian Vinten

TITLE
Head of Group Development & Member of Executive Board
COMPENSATION
DKK5M
AGE
39
TENURE
0.9 yrs

Philippe Vollot

TITLE
Member of the Executive Board & Chief Compliance Officer
COMPENSATION
DKK11M
AGE
51
TENURE
0.4 yrs

Claus Jensen

TITLE
Head of Investor Relations
TENURE
4.7 yrs
Board of Directors Tenure

Average tenure and age of the Danske Bank board of directors in years:

1.1
Average Tenure
62
Average Age
  • The average tenure for the Danske Bank board of directors is less than 3 years, this suggests a new board.
Board of Directors

Karsten Dybvad

TITLE
Chairman of the Board
AGE
62
TENURE
0.3 yrs

Carol Sergeant

TITLE
Vice Chairman of the Board
AGE
66
TENURE
1.1 yrs

Jan Nielsen

TITLE
Vice Chairman of the Board
TENURE
0.3 yrs

Mads Jacobsen

TITLE
Senior EVP & Chairman of Board of Directors of Baltic Units
AGE
66

Lars-Erik Brenøe

TITLE
Non-independent Director
AGE
57
TENURE
3.1 yrs

Jens Due Olsen

TITLE
Independent Director
AGE
55
TENURE
1.1 yrs

Birgit Aagaard-Svendsen

TITLE
Member of Advisory Board
AGE
62

Sten Scheibye

TITLE
Member of Advisory Board
AGE
67

Trond Westlie

TITLE
Member of Advisory Board
AGE
57

Gert Kjeldsen

TITLE
Member of Advisory Board
AGE
61
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 Danske Bank'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. Danske Bank 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.

0NVC News

Simply Wall St News

0NVC Company Info

Description

Danske Bank A/S provides various banking products and services to small and medium-sized businesses and corporate, institutional, and personal customers. It operates through Banking DK, Banking Nordic, Corporates and Institutions, Wealth Management, Northern Ireland segments. The company offers daily banking, home financing, investment, and retirement planning solutions to retail customers; strategic advisory services to commercial customers; leasing solutions; and financing, financial market, general banking, investment, and corporate finance advisory services to corporate and institutional customers, as well as financial solutions and products in the areas of capital markets, fixed income, currencies, transaction banking, and investor services. It also provides wealth management, asset management, investment, pension savings, and insurance solutions; and online and mobile banking services. The company also provides mortgage finance, real-estate brokerage, foreign exchange, and equity services, as well as trades in fixed income products. It has operations in Denmark, Sweden, Norway, Finland, the United Kingdom, Ireland, and internationally. Danske Bank A/S was founded in 1871 and is based in Copenhagen, Denmark.

Details
Name: Danske Bank A/S
0NVC
Exchange: LSE
Founded: 1871
DKK108,174,356,351
854,795,388
Website: http://www.danskebank.com
Address: Danske Bank A/S
Holmens Kanal 2-12,
Copenhagen K,
Copenhagen,
Capital Region of Denmark, 1092,
Denmark
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
CPSE DANSKE Share Capital OMX Nordic Exchange Copenhagen DK DKK 02. Jan 1992
OTCPK DNSK.F Share Capital Pink Sheets LLC US USD 02. Jan 1992
DB DSN Share Capital Deutsche Boerse AG DE EUR 02. Jan 1992
LSE 0NVC Share Capital London Stock Exchange GB DKK 02. Jan 1992
WBAG DANS Share Capital Wiener Boerse AG AT EUR 02. Jan 1992
BATS-CHIXE DANSKC Share Capital BATS 'Chi-X Europe' GB DKK 02. Jan 1992
OTCPK DNKE.Y ADR Pink Sheets LLC US USD 10. Feb 2016
Number of employees
Current staff
Staff numbers
20,683
Danske Bank employees.
Industry
Diversified Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/25 21:21
End of day share price update: 2019/04/25 00:00
Last estimates confirmation: 2019/04/24
Last earnings filing: 2019/02/01
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


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.