Stock DEMANT DEMANT A/S
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Financials Demant A/S

Equities

DEMANT

DK0060738599

Medical Equipment, Supplies & Distribution

Market Closed - Nasdaq Copenhagen
Other stock markets
 10:59:52 2024-04-26 am EDT 		5-day change 1st Jan Change
326.6 DKK +3.29% Intraday chart for Demant A/S +3.49% +10.34%
Apr. 08 Denmark's Demant Finalizes Capital Reduction MT
Apr. 04 Competition Regulator Clears Cochlear’s Acquisition of Oticon Medical’s Cochlear Implant Business MT

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 51,461 57,664 80,200 42,434 64,150 71,102 - -
Enterprise Value (EV) 1 57,682 64,799 89,350 55,145 76,430 84,828 83,875 83,923
P/E ratio 35 x 51.4 x 31.3 x 20.9 x 36.8 x 23.5 x 19.9 x 17 x
Yield - - - - - - - -
Capitalization / Revenue 3.44 x 3.99 x 4.36 x 2.15 x 2.86 x 3.06 x 2.84 x 2.65 x
EV / Revenue 3.86 x 4.48 x 4.86 x 2.8 x 3.41 x 3.65 x 3.35 x 3.12 x
EV / EBITDA 18.5 x 25.1 x 19.7 x 12.6 x 13.9 x 13.9 x 12.6 x 11.3 x
EV / FCF 43.1 x 32 x 35.4 x 34.1 x 21.9 x 28.5 x 24.9 x 21.8 x
FCF Yield 2.32% 3.12% 2.83% 2.93% 4.56% 3.51% 4.02% 4.59%
Price to Book 6.68 x 6.99 x 9.67 x 5.02 x 7.07 x 6.91 x 5.78 x 4.89 x
Nbr of stocks (in thousands) 245,287 239,666 239,330 220,381 216,722 217,703 - -
Reference price 2 209.8 240.6 335.1 192.6 296.0 326.6 326.6 326.6
Announcement Date 2/4/20 2/9/21 2/8/22 2/7/23 2/5/24 - - -
1DKK in Million2DKK
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 14,946 14,469 18,388 19,705 22,443 23,262 25,010 26,866
EBITDA 1 3,110 2,578 4,536 4,383 5,482 6,097 6,632 7,440
EBIT 1 2,151 1,313 3,386 3,207 4,148 4,799 5,203 5,770
Operating Margin 14.39% 9.07% 18.41% 16.28% 18.48% 20.63% 20.8% 21.48%
Earnings before Tax (EBT) 1 1,911 1,336 3,243 2,927 3,394 4,030 4,586 5,237
Net income 1 1,462 1,121 2,513 2,082 1,795 3,041 3,513 3,984
Net margin 9.78% 7.75% 13.67% 10.57% 8% 13.08% 14.04% 14.83%
EPS 2 6.000 4.680 10.70 9.210 8.040 13.92 16.44 19.24
Free Cash Flow 1 1,338 2,023 2,525 1,617 3,483 2,978 3,375 3,851
FCF margin 8.95% 13.98% 13.73% 8.21% 15.52% 12.8% 13.5% 14.33%
FCF Conversion (EBITDA) 43.02% 78.47% 55.67% 36.89% 63.54% 48.85% 50.89% 51.75%
FCF Conversion (Net income) 91.52% 180.46% 100.48% 77.67% 194.04% 97.92% 96.09% 96.66%
Dividend per Share 2 - - - - - - - -
Announcement Date 2/4/20 2/9/21 2/8/22 2/7/23 2/5/24 - - -
1DKK in Million2DKK
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2020 S2 2021 S1 2021 S2 2022 Q2 2022 S1 2022 Q4 2022 S2 2023 Q2 2023 S1 2023 Q3 2023 Q4 2023 S2 2024 Q1 2024 Q2 2024 S1 2024 Q3 2024 Q4 2024 S2
Net sales 1 7,596 6,078 8,391 9,012 9,376 4,894 9,497 5,345 10,208 5,647 11,155 5,403 5,885 11,288 5,490 5,924 11,454 5,766 6,292 12,058
EBITDA 1,528 629 1,949 2,162 2,374 893 2,128 - 2,255 - 2,662 - - 2,820 - - - - - 6,249
EBIT 1,038 -193 1,506 1,638 1,748 - 1,588 - 1,619 - 2,014 - - 2,134 - - 2,264 - - 2,545
Operating Margin 13.67% -3.18% 17.95% 18.18% 18.64% - 16.72% - 15.86% - 18.05% - - 18.91% - - 19.77% - - 21.11%
Earnings before Tax (EBT) 917 26 1,310 1,536 1,707 - 1,493 - 1,434 - 1,655 - - 1,739 - - 1,845 - - 2,134
Net income 699 119 1,013 1,174 1,339 - 1,049 - 1,033 - 581 - - 1,214 - - - - - 2,939
Net margin 9.2% 1.96% 12.07% 13.03% 14.28% - 11.05% - 10.12% - 5.21% - - 10.75% - - - - - 24.37%
EPS 2.880 0.5000 4.180 4.940 5.760 - 4.600 - 4.610 - - - - 5.440 - - - - - -
Dividend per Share - - - - - - - - - - - - - - - - - - - -
Announcement Date 2/4/20 8/17/20 2/9/21 8/12/21 2/8/22 8/16/22 8/16/22 2/7/23 2/7/23 8/15/23 8/15/23 11/7/23 2/5/24 2/5/24 - - - - - -
1DKK in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 6,221 7,135 9,150 12,711 12,280 13,727 12,773 12,821
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 2 x 2.768 x 2.017 x 2.9 x 2.24 x 2.251 x 1.926 x 1.723 x
Free Cash Flow 1 1,338 2,023 2,525 1,617 3,483 2,978 3,375 3,851
ROE (net income / shareholders' equity) 19.5% 14.3% 30.7% 25.2% 28.5% 31.4% 30.8% 30.3%
ROA (Net income/ Total Assets) 7.36% 5.13% 10.7% 7.61% 8.45% 9.89% 11% 11.6%
Assets 1 19,867 21,852 23,394 27,359 21,243 30,739 31,953 34,245
Book Value Per Share 2 31.40 34.40 34.70 38.40 41.90 47.30 56.50 66.80
Cash Flow per Share 2 8.820 10.90 13.90 11.60 19.40 18.40 20.60 24.70
Capex 1 571 507 558 630 633 914 1,002 1,256
Capex / Sales 3.82% 3.5% 3.03% 3.2% 2.82% 3.93% 4% 4.67%
Announcement Date 2/4/20 2/9/21 2/8/22 2/7/23 2/5/24 - - -
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 Demant A/S

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
16
Last Close Price
326.6 DKK
Average target price
334.1 DKK
Spread / Average Target
+2.30%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Medical Prosthetics

1st Jan change Capi.
DEMANT A/S Stock Demant A/S
+10.34% 10.18B
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ANGELALIGN TECHNOLOGY INC. Stock Angelalign Technology Inc.
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MODERN DENTAL GROUP LIMITED Stock Modern Dental Group Limited
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ANGEL ROBOTICS CO., LTD. Stock Angel Robotics Co., Ltd.
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Medical Prosthetics
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