Company Valuation: Danske Andelskassers Bank A/S

Data adjusted to current consolidation scope
Fiscal Period: December 2019 2020 2021 2022 2023 2024
Capitalization 1 1,163 1,348 1,974 1,913 2,331 3,179
Change - 15.92% 46.4% -3.05% 21.83% 36.36%
Enterprise Value (EV) 1 1,478 1,682 705.1 871.4 1,521 2,127
Change - 13.8% -58.08% 23.59% 74.56% 39.84%
P/E ratio 3.54x 15.3x 11.2x 14.7x 8.04x 11.8x
PBR 0.68x 0.76x 1.02x 0.95x 0.91x 1.15x
PEG - -0.2x 0x -0.5x 0.1x -1.73x
Capitalization / Revenue 1.45x 2.31x 2.91x 3.12x 2.93x 3.47x
EV / Revenue 1.84x 2.89x 1.04x 1.42x 1.91x 2.32x
EV / EBITDA - - - - - -
EV / EBIT - - - - - -
EV / FCF - - - - - -
FCF Yield - - - - - -
Dividend per Share 2 0.56 - 0.29 0.1833 0.37 0.36
Rate of return 8.33% - 2.71% 1.78% 3.54% 2.53%
EPS 2 1.9 0.4781 0.9569 0.7 1.3 1.211
Distribution rate 29.5% - 30.3% 26.2% 28.5% 29.7%
Net sales 1 801.4 583 677 613.5 795.9 916.3
EBITDA - - - - - -
EBIT - - - - - -
Net income 1 349.2 113.1 197.5 149.3 295.6 286.6
Net Debt 1 315.3 334.1 -1,268 -1,042 -809.8 -1,051
Reference price 2 6.72 7.30 10.70 10.30 10.45 14.25
Nbr of stocks (in thousands) 173,046 184,659 184,440 185,759 223,064 223,063
Announcement Date 2/28/20 2/26/21 2/24/22 2/23/23 2/22/24 2/21/25
1DKK in Million2DKK
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 667M
14.35x - - 2.08% 828B
13.86x - - 2.06% 380B
5.67x - - 5.48% 349B
14.53x - - 4.16% 295B
5.5x - - 5.43% 273B
13.84x - - 1.95% 270B
14.92x - - 2.92% 237B
5.62x - - 5.4% 233B
14.83x - - 2.61% 212B
Average 11.46x 3.57% 307.8B
Weighted average by Cap. 11.91x 3.3%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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  4. Valuation Danske Andelskassers Bank A/S