Tivoli A/S TIV.CO · DKK

Consumer Discretionary · Nasdaq Copenhagen · 🇩🇰 Denmark

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620.00

+0.32%

Close of 9 Nov 2026, in DKK

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At a glance

Figures in DKK, from our data supplier.

FY2025

Revenue

DKK 1.34bn

FY2016FY2025

Net income

DKK 121.5m

FY2016FY2025

Free cash flow

DKK 38.6m

FY2016FY2025

Shareholders' equity

DKK 1.24bn

FY2016FY2025

Income statement

Fiscal years

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Revenue	DKK 1.34bn	DKK 1.32bn	DKK 1.21bn	DKK 1.13bn	DKK 719.3m	DKK 477.7m	DKK 1.05bn	DKK 1.06bn	DKK 942.7m	DKK 898.8m
Operating income	DKK 163.3m	DKK 152.0m	DKK 114.3m	DKK 97.5m	−DKK 35.8m	−DKK 174.7m	DKK 86.4m	DKK 131.1m	DKK 104.7m	DKK 106.3m
Net income	DKK 121.5m	DKK 123.6m	DKK 86.3m	DKK 65.1m	−DKK 41.5m	−DKK 142.9m	DKK 167.4m	DKK 94.2m	DKK 78.5m	DKK 75.3m
Diluted earnings per share	21.25	21.60	15.10	11.39	-7.27	-24.82	29.23	16.47	13.77	13.20

Balance sheet

At each fiscal year end

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Total assets	DKK 1.86bn	DKK 1.79bn	DKK 1.71bn	DKK 1.67bn	DKK 1.58bn	DKK 1.74bn	DKK 1.82bn	DKK 1.60bn	DKK 1.55bn	DKK 1.19bn
Cash and short-term investments	DKK 44.6m	DKK 74.8m	DKK 75.6m	DKK 63.7m	DKK 13.5m	DKK 24.8m	DKK 178.0m	DKK 92.3m	DKK 130.3m	DKK 21.2m
Total liabilities	DKK 624.0m	DKK 645.7m	DKK 656.8m	DKK 685.2m	DKK 700.1m	DKK 836.2m	DKK 767.7m	DKK 684.6m	DKK 701.5m	DKK 404.4m
Debt	DKK 255.5m	DKK 323.5m	DKK 346.1m	DKK 371.1m	DKK 405.6m	DKK 500.1m	DKK 424.3m	DKK 384.2m	DKK 408.0m	DKK 145.3m
Shareholders' equity	DKK 1.24bn	DKK 1.15bn	DKK 1.05bn	DKK 988.4m	DKK 876.6m	DKK 902.9m	DKK 1.05bn	DKK 920.4m	DKK 846.7m	DKK 785.6m
Shares outstanding	6m	6m	6m	6m	6m	6m	6m	6m	6m	6m

Cash flow

Fiscal years

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Cash from operations	DKK 241.9m	DKK 214.8m	DKK 191.0m	DKK 186.8m	DKK 164.3m	−DKK 120.8m	DKK 189.4m	DKK 184.5m	DKK 188.8m	DKK 160.1m
Capital spending	−DKK 203.3m	−DKK 163.4m	−DKK 121.9m	−DKK 83.6m	−DKK 89.4m	−DKK 83.0m	−DKK 184.4m	−DKK 162.6m	−DKK 323.5m	−DKK 279.1m
Free cash flow	DKK 38.6m	DKK 51.4m	DKK 69.1m	DKK 103.2m	DKK 74.9m	−DKK 203.8m	DKK 5.0m	DKK 21.9m	−DKK 134.7m	−DKK 119.0m
Dividends paid	−DKK 30.9m	−DKK 21.6m	−DKK 16.3m	—	—	—	−DKK 23.6m	−DKK 19.6m	−DKK 18.8m	−DKK 11.0m

Latest quarters

By quarter end

	Jun 2026	Mar 2026	Dec 2025	Sept 2025	Jun 2025	Mar 2025	Dec 2024	Sept 2024
Revenue	DKK 389.0m	DKK 81.4m	DKK 458.2m	DKK 440.6m	DKK 375.1m	DKK 69.9m	DKK 429.9m	DKK 435.7m
Operating income	DKK 64.7m	−DKK 136.6m	DKK 123.4m	DKK 112.3m	DKK 53.1m	−DKK 125.6m	DKK 95.8m	DKK 126.3m
Net income	DKK 26.6m	−DKK 106.5m	DKK 94.7m	DKK 86.3m	DKK 39.6m	−DKK 99.2m	DKK 72.3m	DKK 97.5m
Diluted earnings per share	4.70	-18.82	16.57	15.10	6.93	-17.35	12.64	17.04
Cash from operations	DKK 62.0m	−DKK 81.0m	DKK 131.0m	DKK 100.0m	DKK 71.0m	−DKK 60.0m	DKK 99.0m	DKK 99.0m
Capital spending	−DKK 60.0m	−DKK 62.0m	−DKK 37.0m	−DKK 33.0m	−DKK 66.0m	−DKK 65.0m	−DKK 51.0m	−DKK 22.0m
Free cash flow	DKK 2.0m	−DKK 143.0m	DKK 94.0m	DKK 67.0m	DKK 5.0m	−DKK 125.0m	DKK 48.0m	DKK 77.0m
Total assets	DKK 1.91bn	DKK 1.88bn	DKK 1.86bn	DKK 1.81bn	DKK 1.82bn	DKK 1.75bn	DKK 1.79bn	DKK 1.68bn
Cash and short-term investments	DKK 13.4m	DKK 23.0m	DKK 44.6m	DKK 18.0m	DKK 15.6m	DKK 12.5m	DKK 74.8m	DKK 34.7m
Debt	DKK 142.2m	DKK 382.2m	DKK 271.5m	DKK 96.6m	DKK 377.6m	DKK 344.3m	DKK 277.1m	DKK 282.7m
Shareholders' equity	DKK 1.13bn	DKK 1.14bn	DKK 1.24bn	DKK 1.14bn	DKK 1.06bn	DKK 1.05bn	DKK 1.15bn	DKK 1.08bn

Financial ratios

Data as of 22 Oct 2026

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Operating margin	12.1%	12.4%	9.9%	8.7%	-5.0%	-36.5%
Net margin	9.0%	9.4%	7.1%	5.8%	-5.8%	-29.9%
Return on equity	9.8%	10.8%	8.2%	6.6%	-4.7%	-15.8%
Return on assets	6.5%	6.9%	5.1%	3.9%	-2.6%	-8.2%
Free cash flow yield	12.8%	10.8%	9.0%	7.8%	7.3%	-1.1%
Revenue growth	1.8%	8.8%	7.4%	57.1%	50.6%	-54.6%
Earnings growth	-1.7%	43.2%	32.6%	-256.9%	-71.0%	-185.4%
Current ratio	0.60x	0.73x	0.69x	0.62x	0.27x	0.52x
Debt to equity	0.21x	0.24x	0.28x	0.31x	0.39x	0.39x
Equity ratio	66.5%	64.0%	61.5%	59.1%	55.6%	51.9%
Interest coverage	20.94x	19.95x	13.79x	9.27x	-3.00x	-16.62x
Buybacks as a share of market value	0.1%	-0.1%	0.0%	-0.2%	0.9%	-0.5%

Growth per year

Compound annual rate

	3 years	5 years	10 years
Revenue	6.0%	23.0%	4.0%
Operating income	18.8%	—	9.0%
Net income	23.1%	—	10.7%

Average margins

Over each period

	1 year	3 years	5 years	10 years
Operating margin	11.8%	10.5%	5.1%	7.4%
Net margin	9.2%	7.9%	3.4%	6.1%

Valuation history

At each fiscal year end

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Price to earnings	27.9	30.4	46.6	66.6	-111.4	-29.3	23.9	38.4	42.8	33.4
Price to sales	2.5	2.8	3.3	3.8	6.4	8.8	3.8	3.4	3.6	2.8

Dividends and splits

Per share, in the currency the company pays

Paid for 3 years. Last went ex-dividend on 29 Apr 2026.

	FY2026	FY2025	FY2024	FY2023	FY2019	FY2018	FY2017	FY2016
Paid in the year	5.50	5.40	3.77	2.84	4.12	3.43	3.29	1.924

10-for-1 split · 25 Apr 2016
32-for-21 split · 10 Oct 1990

Sources and methodology

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

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Tivoli A/S TIV.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