Per Aarsleff Holding A/S PAAL B.CO · DKK

Industrials · Nasdaq Copenhagen · 🇩🇰 Denmark

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715.00

+2.00%

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.

FY2025

Revenue

DKK 22.62bn

FY2016FY2025

Net income

DKK 876.0m

FY2016FY2025

Free cash flow

DKK 1.94bn

FY2016FY2025

Shareholders' equity

DKK 5.51bn

FY2016FY2025

Income statement

Fiscal years

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Revenue	DKK 22.62bn	DKK 21.72bn	DKK 20.24bn	DKK 18.12bn	DKK 14.63bn	DKK 13.30bn	DKK 13.45bn	DKK 12.11bn	DKK 11.19bn	DKK 10.42bn
Gross profit	DKK 2.60bn	DKK 2.62bn	DKK 2.53bn	DKK 1.94bn	DKK 1.66bn	DKK 1.61bn	DKK 1.43bn	DKK 1.42bn	DKK 1.26bn	DKK 1.25bn
Operating income	DKK 1.13bn	DKK 1.10bn	DKK 1.08bn	DKK 727.0m	DKK 644.0m	DKK 553.4m	DKK 502.6m	DKK 475.3m	DKK 380.5m	DKK 415.8m
Net income	DKK 876.0m	DKK 806.0m	DKK 786.0m	DKK 447.0m	DKK 472.0m	DKK 378.3m	DKK 360.1m	DKK 339.8m	DKK 268.2m	DKK 302.2m
Diluted earnings per share	45.39	41.55	40.04	23.07	23.79	18.86	17.84	16.67	13.15	14.82

Balance sheet

At each fiscal year end

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Total assets	DKK 15.78bn	DKK 14.07bn	DKK 13.38bn	DKK 11.74bn	DKK 8.92bn	DKK 8.59bn	DKK 8.17bn	DKK 7.85bn	DKK 7.03bn	DKK 6.53bn
Cash and short-term investments	DKK 1.70bn	DKK 866.0m	DKK 1.06bn	DKK 818.0m	DKK 1.05bn	DKK 1.69bn	DKK 1.07bn	DKK 632.7m	DKK 550.7m	DKK 513.3m
Total liabilities	DKK 10.22bn	DKK 9.07bn	DKK 8.98bn	DKK 7.89bn	DKK 5.25bn	DKK 5.28bn	DKK 5.06bn	DKK 4.95bn	DKK 4.33bn	DKK 4.03bn
Debt	DKK 1.68bn	DKK 1.80bn	DKK 2.51bn	DKK 1.94bn	DKK 646.0m	DKK 746.2m	DKK 603.5m	DKK 466.5m	DKK 635.1m	DKK 511.1m
Shareholders' equity	DKK 5.51bn	DKK 4.95bn	DKK 4.37bn	DKK 3.83bn	DKK 3.66bn	DKK 3.30bn	DKK 3.11bn	DKK 2.89bn	DKK 2.69bn	DKK 2.50bn
Shares outstanding	19m	19m	20m	19m	20m	20m	20m	20m	20m	20m

Cash flow

Fiscal years

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Cash from operations	DKK 2.79bn	DKK 1.98bn	DKK 1.10bn	DKK 516.0m	DKK 471.0m	DKK 1.59bn	DKK 940.2m	DKK 764.9m	DKK 492.5m	DKK 430.1m
Capital spending	−DKK 849.0m	−DKK 846.0m	−DKK 922.0m	−DKK 896.0m	−DKK 743.0m	−DKK 532.6m	−DKK 474.2m	−DKK 475.6m	−DKK 558.5m	−DKK 652.8m
Free cash flow	DKK 1.94bn	DKK 1.14bn	DKK 180.0m	−DKK 380.0m	−DKK 272.0m	DKK 1.06bn	DKK 466.0m	DKK 289.3m	−DKK 66.0m	−DKK 222.7m
Dividends paid	−DKK 208.0m	−DKK 191.0m	−DKK 152.0m	−DKK 158.0m	−DKK 130.0m	−DKK 111.0m	−DKK 101.4m	−DKK 81.5m	−DKK 81.5m	−DKK 61.2m

Latest quarters

By quarter end

	Jun 2026	Mar 2026	Dec 2025	Sept 2025	Jun 2025	Mar 2025	Dec 2024	Sept 2024
Revenue	DKK 6.66bn	DKK 6.07bn	DKK 6.18bn	DKK 6.09bn	DKK 5.75bn	DKK 5.26bn	DKK 5.52bn	DKK 5.47bn
Gross profit	DKK 821.0m	DKK 705.0m	DKK 706.0m	DKK 749.0m	DKK 738.0m	DKK 625.0m	DKK 651.0m	DKK 732.0m
Operating income	DKK 327.0m	DKK 246.0m	DKK 254.0m	DKK 409.0m	DKK 308.0m	DKK 226.0m	DKK 239.0m	DKK 352.0m
Net income	DKK 250.0m	DKK 197.0m	DKK 187.0m	DKK 283.0m	DKK 240.0m	DKK 172.0m	DKK 181.0m	DKK 233.0m
Diluted earnings per share	13.33	10.50	9.69	14.66	12.44	8.91	9.33	12.01
Cash from operations	DKK 399.0m	DKK 603.0m	DKK 158.0m	DKK 989.0m	DKK 136.0m	DKK 809.0m	DKK 854.0m	DKK 224.0m
Capital spending	−DKK 242.0m	−DKK 221.0m	−DKK 140.0m	−DKK 316.0m	−DKK 159.0m	−DKK 193.0m	−DKK 181.0m	−DKK 365.0m
Free cash flow	DKK 157.0m	DKK 382.0m	DKK 18.0m	DKK 673.0m	−DKK 23.0m	DKK 616.0m	DKK 673.0m	−DKK 141.0m
Total assets	DKK 19.65bn	DKK 16.96bn	DKK 16.69bn	DKK 15.78bn	DKK 15.33bn	DKK 14.84bn	DKK 14.15bn	DKK 14.07bn
Cash and short-term investments	DKK 1.90bn	DKK 2.00bn	DKK 2.23bn	DKK 1.70bn	DKK 1.60bn	DKK 1.63bn	DKK 1.45bn	DKK 866.0m
Debt	DKK 2.39bn	DKK 1.68bn	DKK 1.84bn	DKK 1.05bn	DKK 1.53bn	DKK 1.40bn	DKK 1.27bn	DKK 1.25bn
Shareholders' equity	DKK 5.87bn	DKK 5.62bn	DKK 5.65bn	DKK 5.51bn	DKK 5.22bn	DKK 5.04bn	DKK 5.08bn	DKK 4.95bn

Financial ratios

Data as of 29 Sept 2026

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Gross margin	11.5%	12.1%	12.5%	10.7%	11.4%	12.1%
Operating margin	5.0%	5.1%	5.3%	4.0%	4.4%	4.2%
Net margin	3.9%	3.7%	3.9%	2.5%	3.2%	2.8%
Return on equity	15.9%	16.3%	18.0%	11.7%	12.9%	11.4%
Return on assets	5.6%	5.7%	5.9%	3.8%	5.3%	4.4%
Free cash flow yield	26.1%	20.2%	14.3%	10.1%	8.5%	14.7%
Revenue growth	4.1%	7.3%	11.7%	23.8%	10.0%	-1.2%
Earnings growth	8.7%	2.5%	75.8%	-5.3%	24.8%	5.1%
Current ratio	1.27x	1.33x	1.44x	1.09x	1.24x	1.34x
Debt to equity	0.19x	0.25x	0.47x	0.40x	0.10x	0.15x
Equity ratio	34.9%	35.2%	32.7%	32.6%	41.0%	38.4%
Interest coverage	15.94x	10.59x	17.67x	25.07x	33.89x	24.30x
Buybacks as a share of market value	0.5%	1.2%	-1.3%	2.3%	1.1%	0.6%

Growth per year

Compound annual rate

	3 years	5 years	10 years
Revenue	7.7%	11.2%	8.2%
Operating income	15.9%	15.4%	8.8%
Net income	25.1%	18.3%	9.1%

Average margins

Over each period

	1 year	3 years	5 years	10 years
Gross margin	11.8%	11.7%	11.7%	11.6%
Operating margin	5.0%	4.9%	4.7%	4.5%
Net margin	3.8%	3.5%	3.4%	3.2%

Valuation history

At each fiscal year end

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Price to earnings	19.3	12.1	8.1	11.4	12.8	16.4	12.0	11.9	14.9	11.9
Price to sales	0.8	0.5	0.3	0.3	0.4	0.5	0.3	0.3	0.4	0.3

Dividends and splits

Per share, in the currency the company pays

Paid for 36 years. Last went ex-dividend on 28 Jan 2026.

	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Paid in the year	12.00	11.00	10.00	8.00	8.00	6.50	5.50	5.00

10-for-1 split · 8 Feb 2016
5-for-1 split · 29 Apr 1998
6-for-5 split · 25 Jan 1989

Sources and methodology

Data on this tab: Our data supplier
Chart on the Overview: TradingView

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Per Aarsleff Holding A/S PAAL B.CO · DKK

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At a glance

Income statement

Balance sheet

Cash flow

Latest quarters

Financial ratios

Growth per year

Average margins

Valuation history

Dividends and splits

Sources and methodology