DSV A/S

kr 1,470As of Sun 8 Nov 2026, 12:00 UTC

CPH:DSVIndustrials

Country Denmark

PE (Fwd) •••

TSR 10Y CAGR 16.67%

Div yield 0.48%

ROE 6.86%

Integrated Freight & Logistics

Beta (5Y) 0.97

PE TTM 44.91

TSR TTM 7.38%

Mkt cap kr 351.0B

ROIC 7.63%

SE Grade™

—

Value

Quality

Moat

Consensus

Reference

kr 1,513

2.91%

(94.13%)

Hold 12|2|7|8|2

TTM

FYE 31 Dec DKK

FY2016

FY2017

FY2018

FY2019

FY2020

FY2021

FY2022

FY2023

FY2024

FY2025

FY2026E

Trend

10Y

Peers

42.20

Revenuekr B

29.85

31.00

32.89

34.67

36.97

38.84

40.21

42.98

46.12

48.34

46.68

5.51%

21.53

Revenue growth%

12.98

10.26

10.17

10.95

9.32

9.12

11.37

12.15

13.99

13.97

18.83

12.15

11.16

13.95

Gross margin%

6.68

3.99

5.16

3.01

1.82

0.77

0.40

2.29

3.43

14.49

0.77

2.65

20.54

Operating margin%

13.32

11.80

12.34

10.53

7.55

9.92

7.47

4.74

5.30

2.75

21.97

5.30

8.73

15.64

Net margin%

28.39

30.67

29.14

29.66

32.48

34.82

36.56

38.64

36.77

33.99

20.71

36.56

33.24

27.03

P/E ratio (avg)x

30.50

32.15

35.88

37.89

40.84

40.74

39.18

38.72

41.07

41.49

33.34

40.74

38.95

16.71

EV/EBITx

14.69

14.44

15.28

17.05

16.35

17.17

16.86

18.07

16.72

16.75

36.07

16.86

16.73

8.01

FCF yield (avg)%

6.60

4.07

3.93

2.44

1.95

2.30

0.61

3.49

2.05

1.42

27.98

2.05

2.37

22.69

FCF margin%

10.22

8.27

5.31

2.47

4.67

5.56

7.55

6.97

9.96

9.07

3.29

7.55

7.26

0.875

FCF / Net incomex

0.219

0.214

0.231

0.251

0.234

0.220

0.200

0.190

0.191

0.630

0.200

0.220

7.78

ROIC%

4.55

6.05

8.32

6.33

6.17

6.03

4.91

3.18

5.90

7.15

7.60

5.90

6.04

28.24

Return on equity%

29.20

28.84

30.06

29.07

26.55

23.77

22.75

24.81

25.21

26.04

8.42

24.81

26.30

19.74

Return on assets%

12.33

15.30

18.14

19.51

18.04

18.46

19.84

20.24

21.30

21.80

4.67

20.24

18.99

121.45

EPSkr

159.46

153.53

144.91

160.80

168.96

182.71

188.61

211.77

224.22

221.33

131.85

5.55%

2.18%

—

29.63

EPS growth%

11.65

11.43

8.80

9.13

10.25

9.71

11.57

13.17

11.64

13.61

21.41

11.64

11.50

43.55

Bookvalue per shkr

209.82

222.16

216.42

247.91

253.31

296.99

337.72

369.57

438.26

478.19

60.72

13.55%

9.61%

—

143.54

FCF per sharekr

251.36

289.55

285.69

285.30

317.60

356.99

346.64

400.51

382.36

390.56

178.54

4.22%

5.71%

—

75.27

Dividend per shkr

43.31

45.57

47.67

47.24

43.31

42.77

45.54

46.82

50.00

47.54

167.25

1.88%

1.47%

—

19.84

Div yield (avg)%

19.37

22.05

23.19

23.48

26.31

26.96

24.38

24.76

27.34

29.25

16.33

26.96

24.57

7.49

Payout ratio%

32.10

33.70

32.52

31.41

34.39

33.19

35.77

37.02

39.13

37.53

5.84

37.02

34.05

236.1

Shares (diluted)M

284.6

258.6

245.9

262.8

244.6

232.4

251.8

270.3

268.8

276.0

235.5

2.44%

0.72%

27.09

Buyback yield%

20.19

19.19

20.89

21.56

21.44

22.09

21.54

20.82

18.23

20.16

11.75

20.82

20.85

0.237

D/E ratiox

0.523

0.529

0.587

0.660

0.639

0.644

0.671

0.751

0.801

0.742

0.975

0.742

0.652

7.538

Enterprise valuekr B

16.17

17.92

20.34

20.31

22.96

26.33

25.96

29.41

29.84

32.79

50.59

7.39%

7.50%

30.79

LT debtkr B

14.62

14.18

13.31

15.09

15.28

14.21

16.23

15.74

17.45

54.33

2.94%

2.39%

Peers (US$52.33B)

Cap (US$)

A.P. Møller - Mærsk A/S

46.83B

10.68x

Vestas Wind Systems A/S

30.61B

26.35x

ISS A/S

6.838B

17.35x

Poste Italiane S.p.A.

41.57B

13.23x

Capital

TTM

10Y

Leveragex

10.36

(0.013)

EBIT/Intx

0.909

0.148

0.146

Own earn%

2.73

(37.23)

(37.76)

Sh yield%

46.93

45.92

45.57

Owners

Insiders/Inst%

7.68

27.29

Short interest%

1.17

SBC / revenue%

1.32

Record

10Y

Profitable years

10/10

Revenue growth years

10/10

EPS growth years

10/10

Dividend streakyrs

Op margin range%

3–13

$1 testx

0.2

Incr. ROIC%

DSV A/S provides freight forwarding and logistics services across Europe, the Middle East, Africa, North and South America, Asia, Australia and the Pacific through its Air & Sea, Road and Solutions segments. It offers air, sea and road freight, warehousing, contract logistics, customs clearance and e-commerce solutions to the automotive, technology, healthcare, energy, industrial, consumer, defense, aerospace and chemical industries.

Growth vs revenue

Latest

Trend

10Y CAGR

Rel growth

Revenue

kr 48.34B

5.51%

1.00×

Cost of revenue

kr 27.28B

5.65%

1.01×

Operating expenses

kr 8.553B

5.50%

1.00×