Pandora Valuation

Is 0NQC undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

Below Fair Value
Significantly Below Fair Value
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 0NQC when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 0NQC (DKK1095) is trading below our estimate of fair value (DKK1843.42)

Significantly Below Fair Value: 0NQC is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 0NQC?

Key metric: As 0NQC is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 0NQC. This is calculated by dividing 0NQC's market cap by their current earnings.
What is 0NQC's PE Ratio?
PE Ratio	17.8x
Earnings	DKK 4.89b
Market Cap	DKK 86.78b

0NQC key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	3.3x
Enterprise Value/EBITDA	11.9x
PEG Ratio	1.6x

Price to Earnings Ratio vs Peers

How does 0NQC's PE Ratio compare to its peers?

The above table shows the PE ratio for 0NQC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	43.2x
BRBY Burberry Group	85.1x	37.2%	UK£3.2b
BTRW Barratt Redrow	51.4x	42.7%	UK£5.9b
BKG Berkeley Group Holdings	11.1x	-4.2%	UK£4.4b
GAW Games Workshop Group	25.3x	3.1%	UK£3.8b
0NQC Pandora	17.8x	10.8%	DKK 86.8b

Price-To-Earnings vs Peers: 0NQC is good value based on its Price-To-Earnings Ratio (17.8x) compared to the peer average (43.2x).

Price to Earnings Ratio vs Industry

How does 0NQC's PE Ratio compare vs other companies in the European Luxury Industry?

4 Companies	Price / Earnings	Estimated Growth	Market Cap

4 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: 0NQC is expensive based on its Price-To-Earnings Ratio (17.8x) compared to the European Luxury industry average (14.2x).

Price to Earnings Ratio vs Fair Ratio

What is 0NQC's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

0NQC PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	17.8x
Fair PE Ratio	21.1x

Price-To-Earnings vs Fair Ratio: 0NQC is good value based on its Price-To-Earnings Ratio (17.8x) compared to the estimated Fair Price-To-Earnings Ratio (21.1x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 0NQC forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	DKK 1,095.00	DKK 1,228.27 +12.2%	13.2%	DKK 1,500.00	DKK 1,000.00	n/a	15
Nov ’25	DKK 1,051.82	DKK 1,235.53 +17.5%	12.4%	DKK 1,470.00	DKK 1,010.00	n/a	15
Oct ’25	DKK 1,069.23	DKK 1,227.60 +14.8%	13.0%	DKK 1,470.00	DKK 1,010.00	n/a	15
Sep ’25	DKK 1,181.00	DKK 1,193.93 +1.1%	13.0%	DKK 1,400.00	DKK 920.00	n/a	15
Aug ’25	DKK 1,078.00	DKK 1,201.93 +11.5%	13.1%	DKK 1,400.00	DKK 920.00	n/a	14
Jul ’25	DKK 1,030.25	DKK 1,211.21 +17.6%	11.9%	DKK 1,400.00	DKK 1,010.00	n/a	14
Jun ’25	DKK 1,113.50	DKK 1,200.07 +7.8%	11.2%	DKK 1,400.00	DKK 1,010.00	n/a	14
May ’25	DKK 1,086.00	DKK 1,179.36 +8.6%	12.9%	DKK 1,400.00	DKK 900.00	n/a	14
Apr ’25	DKK 1,114.50	DKK 1,148.67 +3.1%	14.3%	DKK 1,400.00	DKK 900.00	n/a	15
Mar ’25	DKK 1,135.19	DKK 1,104.81 -2.7%	14.8%	DKK 1,360.00	DKK 820.00	n/a	16
Feb ’25	DKK 1,005.11	DKK 989.81 -1.5%	12.4%	DKK 1,200.00	DKK 720.00	n/a	16
Jan ’25	DKK 931.40	DKK 936.31 +0.5%	11.5%	DKK 1,115.00	DKK 730.00	n/a	16
Dec ’24	DKK 927.61	DKK 928.50 +0.1%	12.0%	DKK 1,115.00	DKK 730.00	n/a	16
Nov ’24	DKK 811.42	DKK 851.14 +4.9%	13.7%	DKK 1,000.00	DKK 630.00	DKK 1,051.82	14
Oct ’24	DKK 731.60	DKK 784.21 +7.2%	16.2%	DKK 950.00	DKK 600.00	DKK 1,069.23	14
Sep ’24	DKK 714.56	DKK 739.60 +3.5%	15.3%	DKK 930.00	DKK 547.00	DKK 1,181.00	15
Aug ’24	DKK 674.00	DKK 727.47 +7.9%	16.0%	DKK 930.00	DKK 540.00	DKK 1,078.00	15
Jul ’24	DKK 609.64	DKK 722.40 +18.5%	15.5%	DKK 930.00	DKK 540.00	DKK 1,030.25	15
Jun ’24	DKK 551.49	DKK 724.47 +31.4%	15.2%	DKK 930.00	DKK 550.00	DKK 1,113.50	15
May ’24	DKK 625.19	DKK 716.73 +14.6%	16.2%	DKK 930.00	DKK 488.00	DKK 1,086.00	15
Apr ’24	DKK 644.35	DKK 707.27 +9.8%	17.4%	DKK 930.00	DKK 488.00	DKK 1,114.50	15
Mar ’24	DKK 659.80	DKK 689.67 +4.5%	19.2%	DKK 930.00	DKK 450.00	DKK 1,135.19	15
Feb ’24	DKK 575.57	DKK 619.33 +7.6%	24.7%	DKK 930.00	DKK 370.00	DKK 1,005.11	15
Jan ’24	DKK 489.55	DKK 604.00 +23.4%	27.2%	DKK 930.00	DKK 340.00	DKK 931.40	15
Dec ’23	DKK 530.80	DKK 627.07 +18.1%	24.9%	DKK 930.00	DKK 340.00	DKK 927.61	15
Nov ’23	DKK 404.00	DKK 612.80 +51.7%	25.8%	DKK 930.00	DKK 315.00	DKK 811.42	15

Analyst Forecast: Target price is less than 20% higher than the current share price.