Stock TOP TOPDANMARK A/S
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Financials Topdanmark A/S

Equities

TOP

DK0060477503

Property & Casualty Insurance

Market Closed - Nasdaq Copenhagen
Other stock markets
 10:59:39 2024-04-26 am EDT 		5-day change 1st Jan Change
293 DKK +0.34% Intraday chart for Topdanmark A/S -4.87% -9.12%
Apr. 23 Topdanmark A/S Approves Distribution of Dividend CI
Apr. 23 Topdanmark A/S Appoints Ricard Wennerklint, Maria Hjorth and Cristina Lage to Risk Committee CI

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 28,530 23,055 32,190 32,232 28,613 26,039 - -
Enterprise Value (EV) 1 28,530 23,055 32,190 32,232 28,613 26,039 26,039 26,039
P/E ratio 18.6 x 20.5 x 15.1 x 15.8 x 27.3 x 19.1 x 18 x 16.7 x
Yield 5.18% 7.57% 9.4% 14.6% 3.57% 5.01% 5.38% 5.7%
Capitalization / Revenue 3.04 x 2.37 x 3.17 x 3.25 x 2.81 x 2.29 x 2.2 x 2.12 x
EV / Revenue 3.04 x 2.37 x 3.17 x 3.25 x 2.81 x 2.29 x 2.2 x 2.12 x
EV / EBITDA - - - - - - - -
EV / FCF 22,714,769 x 25,086,638 x 18,053,601 x - - - - -
FCF Yield 0% 0% 0% - - - - -
Price to Book 4.47 x 3.36 x 4.36 x 4.98 x 6.06 x 4.99 x 4.81 x 4.62 x
Nbr of stocks (in thousands) 86,875 87,262 87,710 88,211 88,751 88,869 - -
Reference price 2 328.4 264.2 367.0 365.4 322.4 293.0 293.0 293.0
Announcement Date 1/23/20 1/22/21 1/21/22 1/24/23 1/23/24 - - -
1DKK in Million2DKK
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 9,397 9,732 10,154 9,903 10,197 11,394 11,852 12,258
EBITDA - - - - - - - -
EBIT 1 1,601 1,302 2,274 1,299 1,498 1,976 2,053 2,212
Operating Margin 17.04% 13.38% 22.4% 13.12% 14.69% 17.34% 17.32% 18.05%
Earnings before Tax (EBT) 1 1,987 1,453 2,742 1,240 1,424 1,858 1,976 2,125
Net income 1 1,547 1,124 2,138 2,049 1,051 1,351 1,439 1,559
Net margin 16.46% 11.55% 21.06% 20.69% 10.31% 11.86% 12.14% 12.72%
EPS 2 17.70 12.90 24.30 23.20 11.80 15.30 16.28 17.55
Free Cash Flow 1,256 919 1,783 - - - - -
FCF margin 13.37% 9.44% 17.56% - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) 81.19% 81.76% 83.4% - - - - -
Dividend per Share 2 17.00 20.00 34.50 53.50 11.50 14.67 15.75 16.70
Announcement Date 1/23/20 1/22/21 1/21/22 1/24/23 1/23/24 - - -
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 2,579 2,428 2,462 2,494 2,518 2,500 2,515 2,542 2,640 2,848 2,826 2,852 2,916 2,923 2,942
EBITDA - - - - - - - - - - - - - - -
EBIT 1 677 153 213 371 565 521 360 351 267 561 517 472 494.5 493 616
Operating Margin 26.25% 6.3% 8.65% 14.88% 22.44% 20.84% 14.31% 13.81% 10.11% 19.7% 18.29% 16.55% 16.96% 16.87% 20.94%
Earnings before Tax (EBT) 1 792 138 196 355 554 511 353 347 213 514 446.5 414.5 425 452 575
Net income 1 625 115 265 259 1,410 373 260 261 157 377 347 314 330.5 330 420
Net margin 24.23% 4.74% 10.76% 10.38% 56% 14.92% 10.34% 10.27% 5.95% 13.24% 12.28% 11.01% 11.33% 11.29% 14.28%
EPS 2 7.100 1.300 3.000 2.900 15.90 4.200 2.900 2.900 1.800 4.200 3.882 3.688 3.600 3.720 4.730
Dividend per Share 2 34.50 - - - 53.50 - - - 11.50 - - - 14.00 - -
Announcement Date 1/21/22 4/27/22 7/15/22 10/25/22 1/24/23 4/25/23 7/14/23 10/24/23 1/23/24 4/16/24 - - - - -
1DKK in Million2DKK
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1,256 919 1,783 - - - - -
ROE (net income / shareholders' equity) 24.9% 16.9% 30% 29.5% 19% 27.8% 27.2% 27.9%
ROA (Net income/ Total Assets) 1.7% 1.08% 1.86% 2.86% 4.73% 5.56% 5.41% 5.57%
Assets 1 90,834 103,863 114,828 71,696 22,215 24,280 26,575 27,994
Book Value Per Share 2 73.50 78.60 84.10 73.40 53.20 58.70 60.90 63.40
Cash Flow per Share - - - - - - - -
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 1/23/20 1/22/21 1/21/22 1/24/23 1/23/24 - - -
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 Topdanmark A/S

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
9
Last Close Price
293 DKK
Average target price
322.3 DKK
Spread / Average Target
+10.00%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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