Stock DSV DSV A/S
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Financials DSV A/S

Equities

DSV

DK0060079531

Air Freight & Logistics

Market Closed - Nasdaq Copenhagen
Other stock markets
 11:20:00 2024-07-03 am EDT 		5-day change 1st Jan Change
1,174 DKK +3.16% Intraday chart for DSV A/S +7.32% -1.01%
Jul. 02 Deutsche Bahn Expects Binding Bids for DB Schenker in August; DSV, CVC in Race MT
Jul. 02 Deutsche Bahn Expects Binding Bids for DB Schenker in August; DSV, CVC in Race MT

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 175,571 230,701 357,685 238,147 248,050 243,891 - -
Enterprise Value (EV) 1 193,926 247,671 386,139 268,017 282,633 276,803 276,672 274,828
P/E ratio 41.7 x 55.4 x 31.7 x 14.4 x 20.8 x 21.9 x 18.6 x 16 x
Yield 0.33% 0.39% 0.36% 0.59% 0.59% 0.56% 0.61% 0.65%
Capitalization / Revenue 1.85 x 1.99 x 1.96 x 1.01 x 1.65 x 1.58 x 1.53 x 1.46 x
EV / Revenue 2.05 x 2.14 x 2.12 x 1.14 x 1.87 x 1.79 x 1.73 x 1.65 x
EV / EBITDA 18.8 x 18.3 x 18.9 x 8.85 x 12.3 x 12.7 x 11.9 x 11.3 x
EV / FCF 23.5 x 25.5 x 30.6 x 10.4 x 19.6 x 22.7 x 21.3 x 18.6 x
FCF Yield 4.25% 3.92% 3.27% 9.66% 5.1% 4.4% 4.69% 5.39%
Price to Book 3.55 x 4.87 x 4.83 x 3.33 x 3.61 x 3.39 x 3.14 x 2.9 x
Nbr of stocks (in thousands) 228,667 226,178 234,164 217,188 209,237 207,832 - -
Reference price 2 767.8 1,020 1,528 1,096 1,186 1,174 1,174 1,174
Announcement Date 2/7/20 2/10/21 2/9/22 2/2/23 2/1/24 - - -
1DKK in Million2DKK
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 94,701 115,932 182,306 235,665 150,785 154,260 159,604 166,746
EBITDA 1 10,292 13,559 20,417 30,275 22,997 21,795 23,218 24,267
EBIT 1 6,654 9,520 16,223 25,204 17,723 16,238 17,349 18,190
Operating Margin 7.03% 8.21% 8.9% 10.69% 11.75% 10.53% 10.87% 10.91%
Earnings before Tax (EBT) 1 4,996 5,627 14,904 23,221 16,490 14,702 16,652 17,671
Net income 1 3,700 4,250 11,205 17,568 12,315 11,149 12,974 13,492
Net margin 3.91% 3.67% 6.15% 7.45% 8.17% 7.23% 8.13% 8.09%
EPS 2 18.40 18.40 48.20 76.20 57.10 53.61 63.05 73.38
Free Cash Flow 1 8,250 9,720 12,622 25,880 14,428 12,173 12,967 14,814
FCF margin 8.71% 8.38% 6.92% 10.98% 9.57% 7.89% 8.12% 8.88%
FCF Conversion (EBITDA) 80.16% 71.69% 61.82% 85.48% 62.74% 55.85% 55.85% 61.05%
FCF Conversion (Net income) 222.97% 228.71% 112.65% 147.31% 117.16% 109.18% 99.95% 109.79%
Dividend per Share 2 2.500 4.000 5.500 6.500 7.000 6.625 7.139 7.651
Announcement Date 2/7/20 2/10/21 2/9/22 2/2/23 2/1/24 - - -
1DKK in Million2DKK
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 61,302 61,125 62,749 60,560 51,231 40,954 37,727 35,576 36,528 38,340 38,908 38,630 39,352 40,130 39,494
EBITDA 1 6,340 7,676 8,701 7,774 6,124 5,941 6,022 5,724 5,310 5,032 5,194 5,574 5,496 5,432 5,710
EBIT 1 5,113 6,496 7,453 6,506 4,749 4,672 4,705 4,396 3,950 3,641 3,989 4,349 4,243 3,994 4,277
Operating Margin 8.34% 10.63% 11.88% 10.74% 9.27% 11.41% 12.47% 12.36% 10.81% 9.5% 10.25% 11.26% 10.78% 9.95% 10.83%
Earnings before Tax (EBT) 1 4,387 5,763 6,680 5,944 4,834 4,326 4,533 3,767 3,864 3,157 3,688 3,861 3,931 3,679 4,050
Net income 1 3,211 4,386 5,070 4,390 3,722 3,266 3,362 2,778 2,909 2,377 2,687 3,066 3,053 2,878 3,171
Net margin 5.24% 7.18% 8.08% 7.25% 7.27% 7.97% 8.91% 7.81% 7.96% 6.2% 6.91% 7.94% 7.76% 7.17% 8.03%
EPS 2 13.50 18.40 21.60 19.20 17.00 14.90 15.50 13.00 13.70 11.30 12.83 14.42 14.55 14.46 16.09
Dividend per Share 2 5.500 - - - 6.500 - - - 7.000 - - - 6.730 - -
Announcement Date 2/9/22 4/27/22 7/26/22 10/25/22 2/2/23 4/27/23 7/25/23 10/24/23 2/1/24 4/24/24 - - - - -
1DKK in Million2DKK
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 18,355 16,970 28,454 29,870 34,583 32,912 32,780 30,937
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.783 x 1.252 x 1.394 x 0.9866 x 1.504 x 1.51 x 1.412 x 1.275 x
Free Cash Flow 1 8,250 9,720 12,622 25,880 14,428 12,173 12,967 14,814
ROE (net income / shareholders' equity) 11.6% 8.8% 18.4% 24.1% 17.6% 15.9% 16.8% 17.4%
ROA (Net income/ Total Assets) 6.54% 4.39% 8.7% 11% 8.04% 7.58% 8.17% 8.62%
Assets 1 56,616 96,904 128,823 160,220 153,078 147,140 158,732 156,539
Book Value Per Share 2 216.0 210.0 316.0 330.0 328.0 346.0 373.0 405.0
Cash Flow per Share 2 34.20 44.40 52.50 123.0 76.40 69.30 80.20 83.70
Capex 1 1,000 1,121 1,180 1,514 2,375 2,386 2,599 2,511
Capex / Sales 1.06% 0.97% 0.65% 0.64% 1.58% 1.55% 1.63% 1.51%
Announcement Date 2/7/20 2/10/21 2/9/22 2/2/23 2/1/24 - - -
1DKK in Million2DKK
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for DSV A/S

Trading Rating
Investor Rating
ESG Refinitiv
A-
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
16
Last Close Price
1,138 DKK
Average target price
1,403 DKK
Spread / Average Target
+23.33%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Integrated Logistics Operators

1st Jan change Capi.
DSV A/S Stock DSV A/S
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KUEHNE UND NAGEL INTERNATIONAL AG Stock Kuehne und Nagel International AG
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HYUNDAI GLOVIS CO., LTD. Stock Hyundai Glovis Co., Ltd.
+30.03% 6.45B
PANALPINA WELTTRANSPORT (HOLDING) AG Stock Panalpina Welttransport (Holding) AG
-1.52% 6.34B
COMPAGNIE DU CAMBODGE Stock Compagnie du Cambodge
+3.85% 4.06B
NIPPON EXPRESS HOLDINGS INC. Stock Nippon Express Holdings Inc.
-7.51% 4B
LOGISTA HOLDINGS Stock Logista Holdings
+9.07% 3.75B
AGILITY GLOBAL PLC Stock Agility Global PLC
0.00% 3.15B
JIAYOU INTERNATIONAL LOGISTICS CO.,LTD Stock Jiayou International Logistics Co.,Ltd
+49.44% 2.29B
SEINO HOLDINGS CO., LTD. Stock Seino Holdings Co., Ltd.
+3.13% 2.28B
Integrated Logistics Operators
  1. Stock Market
  2. Equities
  3. DSV Stock
  4. Financials DSV A/S