Danske Bank A/S

kr 357.20As of Sun 8 Nov 2026, 12:00 UTC

CPH:DANSKEFinancials

Country Denmark

PE (Fwd) •••

TSR 10Y CAGR 10.67%

Div yield 6.46%

ROTE 15.11%

Banks (Regional)

Beta (5Y) 0.62

PE TTM 11.82

TSR TTM 35.51%

Mkt cap kr 286.5B

NIM —

SE Grade™

Value

Quality

Moat

Consensus

Reference

kr 434

21.59%

0.36%

Hold 8|8|2|1|3

TTM

FYE 31 Dec DKK

FY2016

FY2017

FY2018

FY2019

FY2020

FY2021

FY2022

FY2023

FY2024

FY2025

FY2026E

Trend

10Y

Peers

3.384

Revenuekr B

60.61

62.85

63.31

63.69

63.23

64.35

63.96

65.92

66.24

68.07

3.750

1.48%

1.18%

12.73

Revenue growth%

33.81

35.35

35.14

32.71

33.21

34.80

35.38

34.70

32.26

31.06

7.58

34.70

34.25

21.46

NIM%

23.48

24.59

25.42

25.91

27.38

24.74

24.25

25.31

24.26

27.08

20.58

24.74

25.03

17.79

Effic. R.%

12.87

12.88

11.79

10.28

11.54

12.62

13.28

13.25

14.53

12.73

18.39

13.25

12.80

24.01

Net margin%

11.39

14.16

16.73

17.51

16.05

13.20

12.03

9.69

8.09

10.50

25.67

10.50

12.61

27.43

P/E ratio (avg)x

40.29

40.00

44.52

50.20

58.77

63.94

71.63

83.48

82.31

83.84

9.125

82.31

61.36

8.595

P/TBVx

47.62

43.91

47.17

50.33

46.86

47.96

47.23

43.80

47.19

49.67

28.20

47.23

47.21

26.48

P/Bx

34.35

33.40

32.73

32.17

34.97

35.59

39.89

40.81

47.25

50.77

14.29

40.81

35.28

25.97

NIIkr B

43.68

44.80

45.07

45.52

45.26

46.52

45.83

47.52

47.67

49.02

43.79

1.61%

1.25%

—

26.57

NII grth%

6.70

8.52

10.20

12.45

13.77

15.07

13.86

13.72

11.99

11.08

7.64

13.72

12.22

19.71

ROTE%

7.73

9.49

10.95

9.52

10.79

11.38

9.73

10.77

11.84

9.06

20.07

10.77

10.25

13.65

Return on equity%

10.27

9.16

8.52

6.86

6.65

8.38

8.07

9.31

7.86

7.02

21.66

8.07

8.23

7.19

Return on assets%

3.21

4.51

6.00

7.12

7.63

9.25

11.76

11.92

13.72

13.52

24.11

11.92

8.44

10.78

EPSkr

24.69

24.34

28.12

32.42

37.65

43.04

48.11

52.35

52.84

51.95

11.29

6.65%

9.34%

—

7.12

EPS growth%

9.01

7.84

6.52

5.78

7.07

6.79

9.52

6.88

5.48

6.89

16.47

6.88

13.07

Bookvalue per shkr

53.53

60.54

60.53

62.38

75.03

89.73

98.88

111.07

118.52

130.74

15.56

11.75%

10.85%

—

36.41

TBV/shkr

46.85

49.20

57.49

55.05

63.00

72.31

79.25

88.67

99.12

112.12

35.08

12.22%

10.05%

—

30.83

Dividend per shkr

19.21

18.95

20.95

21.44

24.21

22.47

24.68

26.70

29.68

33.86

30.81

6.93%

5.63%

—

11.06

Div yield (avg)%

10.82

8.20

5.48

4.16

7.07

4.27

3.26

3.61

5.50

5.88

3.51

4.27

5.49

23.47

Payout ratio%

33.87

34.27

31.55

32.14

29.98

32.24

30.14

30.89

32.85

31.82

14.75

31.82

31.98

0.800

Shares (diluted)B

0.981

1.014

1.087

1.261

1.380

1.393

1.618

1.664

1.631

1.538

0.816

2.20%

4.65%

2.35

Buyback yield%

15.66

17.07

14.24

15.78

13.08

14.86

13.91

13.23

14.42

16.60

26.67

14.42

14.64

33.45

Eq/Assets%

125.02

132.20

128.91

121.48

129.49

128.62

125.99

133.26

136.98

144.41

10.98

133.26

129.20

46.66

Assetskr B

52.68

56.76

62.19

67.73

74.53

79.50

86.11

96.24

104.4

111.2

5.654

8.34%

8.56%

23.33

LT debtkr B

23.73

28.17

28.94

28.85

34.44

36.63

39.35

45.25

52.65

59.48

4.505

11.55%

9.93%

Peers (US$42.72B)

Cap (US$)

Jyske Bank A/S

9.277B

13.22x

AL Sydbank A/S

9.174B

21.02x

Ringkjøbing Landbobank…

6.272B

18.16x

Skandinaviska Enskilda…

42.23B

13.72x

Capital

TTM

10Y

Tang eq%

23.18

25.42

31.17

LT debt%

50.00

47.02

46.38

Cash%

27.85

17.12

17.08

Sh yield%

13.42

19.13

19.93

Owners

Insiders/Inst%

11.84

39.81

Short interest%

0.85

SBC / revenue%

1.08

Record

10Y

Profitable years

10/10

Revenue growth years

10/10

EPS growth years

10/10

Dividend streakyrs

ROE range%

7–10

$1 testx

−0.1

Incr. ROIC%

—

Danske Bank A/S provides various banking products and services to corporate, institutional, and international clients. The company offers banking, mortgage finance, insurance, pension, real-estate brokerage, asset management, trading in fixed income products, foreign exchange, and equities. It also provides advisory services to personal and private banking customers.

Growth vs revenue

Latest

Trend

10Y CAGR

Rel growth

Total assets

kr 111.2B

8.56%

2.02×

Revenue

kr 68.07B

1.18%

1.00×

Non-interest expense

kr 31.64B

1.12%

0.99×