A 
19,865.00
-2.14%
Close of 9 Nov 2026, in DKK
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in USD, from our data supplier.
Revenue
$53.99bn
FY2016FY2025
Net income
$2.73bn
FY2016FY2025
Free cash flow
$4.78bn
FY2016FY2025
Shareholders' equity
$55.58bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $53.99bn | $55.48bn | $51.06bn | $81.53bn | $61.79bn | $39.74bn | $38.89bn | $39.02bn | $30.95bn | $27.27bn |
| Gross profit | $9.44bn | $12.11bn | $9.64bn | $31.32bn | $19.81bn | $4.04bn | $1.47bn | $326.0m | $1.11bn | $414.0m |
| Operating income | $2.86bn | $5.91bn | $9.64bn | $36.73bn | $24.05bn | $8.06bn | $1.81bn | $903.0m | $641.0m | −$226.0m |
| Net income | $2.73bn | $6.11bn | $3.82bn | $29.20bn | $17.94bn | $2.85bn | $509.0m | −$148.0m | −$1.21bn | −$1.94bn |
| Diluted earnings per share | 178.42 | 385.06 | 236.68 | 1,601.47 | 961.18 | 146.89 | 25.48 | -7.19 | -58.38 | -94.97 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $88.35bn | $87.70bn | $82.58bn | $93.68bn | $72.27bn | $56.12bn | $55.40bn | $56.64bn | $63.23bn | $61.12bn |
| Cash and short-term investments | $10.32bn | $8.15bn | $19.55bn | $11.00bn | $11.84bn | $5.87bn | $4.77bn | $5.30bn | $2.17bn | $4.16bn |
| Total liabilities | $31.66bn | $29.75bn | $27.49bn | $28.65bn | $26.68bn | $25.26bn | $26.56bn | $23.24bn | $31.80bn | $29.03bn |
| Debt | $18.92bn | $16.48bn | $14.81bn | $15.64bn | $15.34bn | $15.37bn | $16.75bn | $11.88bn | $17.51bn | $15.34bn |
| Shareholders' equity | $55.58bn | $56.92bn | $54.03bn | $63.99bn | $44.51bn | $29.85bn | $28.10bn | $32.62bn | $30.61bn | $31.26bn |
| Shares outstanding | 15m | 16m | 16m | 18m | 19m | 19m | 20m | 21m | 21m | 20m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $9.76bn | $11.41bn | $9.64bn | $34.48bn | $22.02bn | $7.83bn | $5.92bn | $3.23bn | $2.60bn | $4.33bn |
| Capital spending | −$4.98bn | −$4.20bn | −$3.65bn | −$4.16bn | −$2.98bn | −$1.32bn | −$2.04bn | −$2.88bn | −$3.60bn | −$4.37bn |
| Free cash flow | $4.78bn | $7.21bn | $6.00bn | $30.31bn | $19.05bn | $6.51bn | $3.88bn | $349.0m | −$1.00bn | −$47.0m |
| Dividends paid | −$2.64bn | −$1.33bn | −$10.88bn | −$6.85bn | −$1.02bn | −$430.0m | −$469.0m | −$517.0m | −$454.0m | −$953.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $15.76bn | $12.97bn | $13.33bn | $14.21bn | $13.13bn | $13.32bn | $14.59bn | $15.76bn |
| Gross profit | $1.43bn | $12.97bn | −$31.21bn | $14.21bn | $13.13bn | $13.32bn | −$28.71bn | $15.76bn |
| Operating income | $1.43bn | $203.0m | $15.0m | $1.11bn | $647.0m | $13.32bn | −$28.71bn | $15.76bn |
| Net income | $1.26bn | $53.0m | −$70.0m | $1.05bn | $586.0m | $1.16bn | $2.08bn | $3.05bn |
| Diluted earnings per share | 87.00 | 3.65 | -4.58 | 68.55 | 38.37 | 76.08 | 131.42 | 192.18 |
| Cash from operations | $2.40bn | $1.04bn | $2.52bn | $2.62bn | $1.86bn | $2.77bn | $4.42bn | $4.27bn |
| Capital spending | −$915.0m | −$1.01bn | −$919.0m | −$1.20bn | −$1.28bn | −$1.40bn | −$1.65bn | −$941.0m |
| Free cash flow | $1.49bn | $33.0m | $1.60bn | $1.41bn | $581.0m | $1.37bn | $2.77bn | $3.33bn |
| Total assets | $87.90bn | $86.61bn | $88.35bn | $88.73bn | $87.86bn | $86.97bn | $87.70bn | $84.94bn |
| Cash and short-term investments | $18.49bn | $18.43bn | $10.32bn | $6.99bn | $6.95bn | $8.91bn | $8.15bn | $22.24bn |
| Debt | $8.33bn | $8.24bn | $8.98bn | $8.86bn | $7.96bn | $7.97bn | $7.75bn | $8.18bn |
| Shareholders' equity | $55.23bn | $54.10bn | $55.58bn | $56.43bn | $55.98bn | $55.41bn | $56.92bn | $55.45bn |
Financial ratios
Data as of 20 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 17.5% | 21.8% | 18.9% | 38.4% | 32.1% | 10.2% |
| Operating margin | 6.5% | 10.6% | 18.9% | 45.0% | 38.9% | 20.3% |
| Net margin | 5.0% | 11.0% | 7.5% | 35.8% | 29.0% | 7.2% |
| Return on equity | 4.9% | 10.7% | 7.1% | 45.6% | 40.3% | 9.5% |
| Return on assets | 3.1% | 7.0% | 4.6% | 31.2% | 24.8% | 5.1% |
| Free cash flow yield | 4.3% | 4.4% | 3.6% | 9.4% | 5.9% | 2.1% |
| Revenue growth | -2.7% | 8.6% | -37.4% | 32.0% | 55.5% | 2.2% |
| Earnings growth | -55.4% | 59.8% | -86.9% | 62.7% | 529.5% | 459.9% |
| Current ratio | 2.12x | 2.45x | 2.45x | 3.01x | 2.13x | 1.27x |
| Debt to equity | 0.16x | 0.14x | 0.13x | 0.11x | 0.16x | 0.27x |
| Equity ratio | 62.9% | 64.9% | 65.4% | 68.3% | 61.6% | 53.2% |
| Interest coverage | 1.76x | 3.77x | 12.50x | 47.95x | 29.77x | 9.68x |
| Buybacks as a share of market value | 3.7% | 1.8% | 11.4% | 2.3% | 3.8% | 2.9% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -12.8% | 6.3% | 6.0% |
| Operating income | -57.3% | -18.7% | 4.3% |
| Net income | -54.6% | -0.9% | 13.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 19.7% | 25.8% | 25.1% | 18.0% |
| Operating margin | 8.0% | 22.8% | 25.4% | 18.1% |
| Net margin | 8.1% | 17.3% | 18.2% | 11.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 12.7 | 4.8 | 7.6 | 1.4 | 3.6 | 13.8 | 56.2 | -147.9 | -24.1 | -15.4 |
| Price to sales | 0.6 | 0.5 | 0.6 | 0.5 | 1.1 | 1.0 | 0.7 | 0.6 | 0.9 | 1.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 36 years. Last went ex-dividend on 26 Mar 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 480.00 | 1,120.00 | 515.00 | 20.00 | 25.00 | 330.00 | 150.00 | 150.00 |
- 5-for-1 split · 4 Apr 2014
- 3-for-1 split · 16 Jun 2003
- 5-for-1 split · 13 May 1998
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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