DFDS A/S

29K.F · Industrials · Marine Shipping · Valued as of 2026-11-05 · Statements 2025-12-31

How Each Value Is Built

The screener's three formulas on the reported figures. Each card reads the same way: the value as a sum of numbered terms, each term's calculation opened under it, from the reported figures to the value. The list ranks companies by their plain average over the market cap.

What it is worth

EPV + Growth

1.95B USD

what the normal year's earnings are worth for ever, plus growth that pays

Profit

2.06B USD

15 years of cash the shareholders can take out, and the equity left at year 15

FCFF

2.06B USD

15 years of cash for shareholders and lenders, less what is owed

Average Intrinsic Value

2.02B USD

The plain average of EPV, Profit and FCFF

Against the price

Market Cap

1.24B USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

1.63×

the ratio the screener ranks by

Margin of Safety

+38.6%

1 − Market Cap / Average Intrinsic Value

Projections, not exact values. Intrinsic Values are projected from each company's past reports. They show which stocks look cheap compared with the others, not exactly what a stock is worth.

Earnings power value plus growth: 1.95B USD
What the normal year's operating profit after tax is worth if it lasts for ever, plus what the new investment adds beyond its cost, less the net debt that comes before the shareholders (or plus the net cash).
①EPV (earnings power value)4.11B USD
−②Net Debt Today2.16B USD
+③Growth Value0 USD
=Value1.95B USD

EPV of the Operations (NOPAT over WACC)

4.11B USD

Net debt today

-2.16B USD

Growth Value

0 USD

Value

1.95B USD

①EPV (Earnings Power Value)

4.11B USD

②Net Debt Today

2.16B USD

③Growth Value

0 USD

Market value

Market Cap1.24B USD

The price on the date above times the shares.

Value vs market

Margin of Safety+36.2%

1 minus the market cap as a share of the value.

Profit value: today's value of the shareholders' equity, from the cash it can pay them (FCFE): 2.06B USD
Fifteen years of free cash flow to equity (FCFE), each brought to today at the cost of equity, plus the equity at year 15 brought to today.

The projection was not made (a profit at or below zero in the latest three years), so the value is the book value today, 2.06B USD, as the screener leaves it.

①Present Value of the 15 Years of FCFE

Not in the value

②Equity at Year 15, Today

Not in the value

Market value

Market Cap1.24B USD

The price on the date above times the shares.

Value vs market

Margin of Safety+39.7%

1 minus the market cap as a share of the value.

FCFF value: today's value of the shareholders' equity, from the cash the firm can pay its shareholders and lenders (FCFF): 2.06B USD
Fifteen years of free cash flow to the firm (FCFF), each brought to today at the WACC, plus the invested capital at year 15 brought to today, less the net debt today (or plus the net cash).

The projection was not made (an FCFF at or below zero in the latest three years), so the value is the book value today, 2.06B USD, as the screener leaves it.

①Present Value of the 15 Years of FCFF

Not in the value

②Invested Capital at Year 15, Today

Not in the value

③Net Debt Today

Not in the value

Market value

Market Cap1.24B USD

The price on the date above times the shares.

Value vs market

Margin of Safety+39.7%

1 minus the market cap as a share of the value.

The Rates and the Capital the Values Read

The WACC and the cost of equity each value is discounted at, the book value and the net debt each starts from, and the seven quality metrics, from the same run.

WACC: 6.16%
Cost of Equity =Risk-Free Rate 4.50%+Beta 1.05×Market Risk Premium 6.00%= 10.78%

The yearly return the shareholders require for the risk they carry; it is the rate that brings their future cash to today.

Tax Rate for WACC 25.00% (default): the statements print a tax provision of 20.00M USD on a pretax income of -46.92M USD, which gives no rate between 0 and the profit before tax, so the 25% default stands for the tax the interest saves.

Interest Expense =EBIT 77.78M USD−Pretax Income -46.92M USD= 124.69M USD

The interest the company paid: EBIT is the profit before tax plus the interest.

Cost of Debt =Interest Expense 124.69M USDTotal Debt 2.45B USD×(1 − Tax Rate for WACC 25.00%)= 3.82%

What the lenders are paid a year after the tax the interest saves.

Debt Weight =Total Debt 2.45B USDMarket Cap + Total Debt 1.24B USD + 2.45B USD= 66.35%

The part of the capital the lenders put in, at market value.

WACC =Equity Weight 33.65%×Cost of Equity 10.78%+Debt Weight 66.35%×Cost of Debt 3.82%= 6.16%

Weighted average cost of capital: the yearly return the shareholders and the lenders together require, weighted by what each puts in; the rate that brings the firm's future cash to today.

Book value and net debt today
Both from the balance sheet of the newest quarter, 2026-06-30.

Total Assets 5.71B USD − Total Liabilities 3.65B USD = Book Value Today 2.06B USD

Total Debt 2.45B USD − Cash and Short-Term Investments 289.97M USD = Net Debt Today 2.16B USD

The book value is what Profit starts from and what stands when a projection is not made; the book value plus the net debt is what FCFF starts from; the net debt comes off Greenwald's and FCFF's values before the shareholders.

Quality metrics
Read beside the value, never a condition for it: every company is valued, and a filter in the list is the reader's choice.
MetricFrom
Share dilutionShares Today ÷ Shares Two Years Back − 1-3.9%at most 5%passes54,016,284 / 56,215,668
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets10.3%at least -10.0%passes(519.56M USD − -67.23M USD) ÷ 5.71B USD
Price to bookMarket Cap ÷ Book Value Today0.60×at most 3×passes1.24B USD ÷ 2.06B USD
Operating marginOperating Income ÷ Revenue1.3%above 10.0%does not pass64.08M USD ÷ 4.87B USD
Revenue growthRevenue ÷ Revenue a Year Before − 117.3%above 10.0%passes4.87B USD / 4.16B USD
Net cash(Cash − Total Debt) ÷ Market Cap-173.9%above -30%does not pass(289.97M USD − 2.45B USD) ÷ 1.24B USD
Operating efficiencyOperating Income ÷ Gross Profit15.1%above 25.0%does not pass64.08M USD ÷ 425.72M USD

Market Data

The provider's ratios and the analysts' consensus beside the argument; none of them enters a value.

Share price

20.46 EUR

Enterprise value

15.34B EUR

the provider's own figure

EV / EBITDA

5.38×

Price / book

0.62×

the provider's book

Price / earnings

—

Return on equity

-0.1%

the provider's figure, not this page's

Profit margin

-0.1%

Revenue growth

9.9%

Analyst target, mean

—

Analysts

—

opinions in the consensus

Financial Statements

The annual lines the screener holds, year by year, in USD at each period's rate; the figures this valuation read are in its calculation above.

Income statement (USD)2022202320242025

Revenue

3.86B4.06B4.16B4.87B

Gross profit

583.24M610.03M512.60M425.72M

Operating income

354.19M332.81M200.71M64.08M

EBITDA

operating income before depreciation and amortisation

359.07M349.76M210.21M77.78M

Pretax income

306.97M247.79M95.40M-46.92M

Net income

288.46M225.34M74.58M-67.23M

Normalized income

net income without one-off items, as the data provider prints it; Profit's line when printed

286.56M210.04M66.18M-82.09M

R&D

————
Balance sheet, year end (USD)2022202320242025

Total assets

4.86B5.15B5.49B5.84B

Total liabilities

2.98B3.08B3.55B3.73B

Shareholders' equity

the equity the parent's shareholders own, as printed, without minority interest; the book value the values read is total assets less total liabilities, in Book Value and Net Debt above

1.87B2.06B1.93B2.11B

Total debt

2.20B2.26B2.57B2.64B

Cash and equivalents

170.64M109.55M221.94M282.61M

Net PP&E

fixed assets after depreciation

3.01B3.17B3.06B3.23B

Working capital

current assets less current liabilities

-285.45M-79.52M-32.96M-285.13M
Cash flow (USD)2022202320242025

Operating cash flow

642.94M546.27M477.68M519.56M

Capital expenditure

paid out, so below zero

-408.01M-246.60M-221.10M-248.13M

Depreciation and amortisation

————

Free cash flow

operating cash flow plus capital expenditure

234.93M299.67M256.58M271.43M