O 
147.25
-0.98%
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 DKK, from our data supplier.
Revenue
DKK 63.61bn
FY2016FY2025
Net income
DKK 2.44bn
FY2016FY2025
Free cash flow
−DKK 31.67bn
FY2016FY2025
Shareholders' equity
DKK 119.72bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | DKK 63.61bn | DKK 58.83bn | DKK 69.08bn | DKK 126.09bn | DKK 69.14bn | DKK 37.10bn | DKK 59.34bn | DKK 68.65bn | DKK 59.71bn | DKK 57.39bn |
| Research and development | — | — | DKK 2.31bn | DKK 2.13bn | DKK 2.16bn | DKK 1.94bn | DKK 2.06bn | — | — | — |
| Operating income | −DKK 1.72bn | DKK 6.17bn | −DKK 17.85bn | DKK 17.58bn | DKK 8.04bn | DKK 9.01bn | DKK 11.59bn | DKK 9.90bn | DKK 5.63bn | DKK 9.01bn |
| Net income | DKK 2.44bn | −DKK 923.0m | −DKK 20.51bn | DKK 15.13bn | DKK 10.96bn | DKK 15.60bn | DKK 7.18bn | DKK 18.25bn | DKK 13.32bn | DKK 8.05bn |
| Diluted earnings per share | 1.85 | -2.20 | -48.80 | 35.99 | 24.61 | 37.03 | 16.39 | 44.67 | 31.69 | 19.15 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | DKK 367.92bn | DKK 298.79bn | DKK 281.14bn | DKK 314.14bn | DKK 270.38bn | DKK 196.72bn | DKK 192.86bn | DKK 174.57bn | DKK 146.52bn | DKK 136.49bn |
| Cash and short-term investments | DKK 91.77bn | DKK 32.94bn | DKK 39.66bn | DKK 38.13bn | DKK 14.83bn | DKK 29.87bn | DKK 22.25bn | DKK 28.16bn | DKK 29.48bn | DKK 19.46bn |
| Total liabilities | DKK 239.94bn | DKK 205.30bn | DKK 203.34bn | DKK 218.61bn | DKK 185.25bn | DKK 99.39bn | DKK 103.30bn | DKK 89.46bn | DKK 74.68bn | DKK 78.99bn |
| Debt | DKK 107.86bn | DKK 96.62bn | DKK 88.05bn | DKK 71.55bn | DKK 58.53bn | DKK 41.82bn | DKK 42.17bn | DKK 27.30bn | DKK 29.64bn | DKK 24.18bn |
| Shareholders' equity | DKK 119.72bn | DKK 83.09bn | DKK 75.89bn | DKK 91.54bn | DKK 82.06bn | DKK 94.61bn | DKK 86.31bn | DKK 81.73bn | DKK 68.03bn | DKK 52.35bn |
| Shares outstanding | 1,321m | 420m | 420m | 420m | 445m | 421m | 438m | 409m | 420m | 420m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | DKK 23.11bn | DKK 18.36bn | DKK 28.53bn | DKK 11.92bn | DKK 12.15bn | DKK 16.47bn | DKK 13.08bn | DKK 10.34bn | DKK 1.02bn | DKK 11.27bn |
| Capital spending | −DKK 54.78bn | −DKK 42.65bn | −DKK 38.20bn | −DKK 33.00bn | −DKK 34.57bn | −DKK 26.96bn | −DKK 22.45bn | −DKK 14.65bn | −DKK 17.59bn | −DKK 14.98bn |
| Free cash flow | −DKK 31.67bn | −DKK 24.30bn | −DKK 9.67bn | −DKK 21.08bn | −DKK 22.42bn | −DKK 10.49bn | −DKK 9.37bn | −DKK 4.31bn | −DKK 16.57bn | −DKK 3.71bn |
| Dividends paid | — | −DKK 687.0m | −DKK 5.67bn | −DKK 5.25bn | −DKK 4.83bn | −DKK 4.41bn | −DKK 4.10bn | −DKK 3.78bn | −DKK 2.52bn | −DKK 640.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | DKK 18.90bn | DKK 24.66bn | DKK 19.98bn | DKK 10.18bn | DKK 15.05bn | DKK 18.40bn | DKK 17.68bn | DKK 13.16bn |
| Operating income | −DKK 21.0m | DKK 2.69bn | −DKK 10.44bn | −DKK 2.06bn | DKK 4.19bn | DKK 6.59bn | −DKK 6.34bn | DKK 6.72bn |
| Net income | DKK 518.0m | DKK 2.32bn | −DKK 4.02bn | −DKK 1.79bn | DKK 3.10bn | DKK 4.59bn | −DKK 6.16bn | DKK 5.11bn |
| Diluted earnings per share | 0.39 | 1.76 | -3.05 | -1.35 | 2.34 | 3.48 | -14.66 | 12.17 |
| Cash from operations | DKK 2.60bn | DKK 6.39bn | DKK 16.55bn | −DKK 1.15bn | DKK 7.19bn | DKK 634.0m | DKK 10.31bn | −DKK 1.66bn |
| Capital spending | −DKK 10.12bn | −DKK 8.22bn | −DKK 15.06bn | −DKK 14.98bn | −DKK 10.95bn | −DKK 13.78bn | −DKK 16.34bn | −DKK 9.65bn |
| Free cash flow | −DKK 7.53bn | −DKK 1.83bn | DKK 1.50bn | −DKK 16.13bn | −DKK 3.77bn | −DKK 13.15bn | −DKK 6.03bn | −DKK 11.31bn |
| Total assets | DKK 359.98bn | DKK 360.33bn | DKK 367.92bn | DKK 299.07bn | DKK 285.11bn | DKK 287.29bn | DKK 298.79bn | DKK 290.34bn |
| Cash and short-term investments | DKK 80.61bn | DKK 78.74bn | DKK 91.77bn | DKK 30.05bn | DKK 24.72bn | DKK 22.87bn | DKK 32.94bn | DKK 39.40bn |
| Debt | DKK 7.76bn | DKK 89.90bn | DKK 100.61bn | DKK 15.60bn | DKK 83.50bn | DKK 83.98bn | DKK 88.54bn | DKK 94.72bn |
| Shareholders' equity | DKK 122.97bn | DKK 121.34bn | DKK 119.72bn | DKK 63.87bn | DKK 88.04bn | DKK 86.62bn | DKK 83.09bn | DKK 65.99bn |
Financial ratios
Data as of 5 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2010 | |
|---|---|---|---|---|---|---|---|---|
| Operating margin | 8.6% | 10.5% | -25.3% | 13.9% | 11.6% | 24.3% | — | — |
| Net margin | 3.8% | -1.6% | -29.7% | 12.0% | 15.9% | 42.0% | — | — |
| Return on equity | 2.0% | -1.1% | -27.0% | 16.5% | 13.4% | 16.5% | — | — |
| Return on assets | 0.7% | -0.3% | -7.3% | 4.8% | 4.1% | 7.9% | — | — |
| Free cash flow yield | 43.0% | 105.9% | 115.8% | 78.0% | 76.5% | 75.2% | — | — |
| Revenue growth | 8.1% | -14.8% | -45.2% | 82.4% | 86.4% | -37.5% | — | — |
| Earnings growth | -364.4% | -95.5% | -235.6% | 38.0% | -29.7% | 117.2% | — | — |
| Current ratio | 1.94x | 1.48x | 1.42x | 1.51x | 1.01x | 1.85x | — | — |
| Debt to equity | 0.83x | 1.07x | 1.06x | 0.70x | 0.63x | 0.39x | — | — |
| Equity ratio | 32.5% | 27.8% | 27.0% | 29.1% | 30.3% | 48.1% | — | — |
| Interest coverage | 1.91x | 1.54x | -4.28x | 6.55x | 3.13x | 3.39x | — | — |
| R&D as a share of sales | — | — | 3.3% | 1.7% | 3.1% | 5.2% | 3.5% | 1.4% |
| Buybacks as a share of market value | -214.4% | -0.0% | -0.0% | 5.7% | -5.8% | 3.8% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -20.4% | 11.4% | -1.6% |
| Operating income | — | — | -7.4% |
| Net income | -45.6% | -31.0% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 3.6% | 1.3% | 5.0% | 7.2% |
| Net margin | 1.2% | -1.2% | 5.4% | 8.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 66.2 | -81.3 | -4.2 | 9.7 | 18.7 | 18.5 | 23.1 | 5.4 | 5.9 | 7.7 |
| Price to sales | 2.5 | 1.3 | 1.3 | 1.2 | 3.0 | 7.8 | 2.8 | 1.4 | 1.3 | 1.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 8 Mar 2023.
| FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|
| Paid in the year | 13.50 | 12.50 | 11.50 | 10.50 | 9.75 | 9.00 | 6.00 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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