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DSV A/S (0JN9) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of DSV A/S DKK 1,191, price DKK 1,205, upside -1.1%, quality 60 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? Yes
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Industrials · GB · Home Denmark · ISIN DK0060079531

DA Thin data Oct 3, 2026

DSV A/S

0JN9 · LSE

NeutralQuality growthThe stock looks roughly fairly valued with average quality.

·Fair value kr 1,191 · Fairly valued (−1.1%)
✓Quality 60/100
!Mixed Growth (revenue 3y +15.7 %/yr)
!Thin margins · 2.4% net margin (TTM)
✓Low debt
✓0.6% dividend yield · Well covered
!Narrow moat 40/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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Price vs Fair Value

kr 1,890 kr 850.17 Fair Value kr 1,191 Jul 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 3, 2026.

How to read this chart

60‑month range kr 850.17 – kr 1,890 · fair‑value band kr 833.96 – kr 1,549 · the kr 1,205 price screens above the kr 1,191 fair value. Dashed = 300-day average. As of Oct 3, 2026.

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Company profile

DSV A/S offers freight forwarding and logistics services in Europe, the Middle East, Africa, North America, South America, Asia, Australia, and the Pacific. It operates through three segments: Air & Sea, Road, and Solutions.

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DSV A/S offers freight forwarding and logistics services in Europe, the Middle East, Africa, North America, South America, Asia, Australia, and the Pacific. It operates through three segments: Air & Sea, Road, and Solutions. The company provides air freight, charter, and sea-air freight services, as well as unit load devices; sea freight services, including less-than-container load services, sea freight services, break bulk, sea containers, and DSV LCL sailing schedule services; and warehousing, e-commerce fulfilment, supply chain, contract logistics, and logistics solutions. It also offers road freight services, such as full load, part load, and groupage; conventional freight forwarding services and tailored project cargo solutions; and freight management, customs clearance, decarbonising logistics, order management, insurance, and e-commerce solutions. The company serves the automotive, technology, healthcare, energy, industrial, consumer, defense, aerospace, and chemical industries. The company was formerly known as DSV Panalpina A/S and changed its name to DSV A/S in September 2021. DSV A/S was incorporated in 1976 and is based in Hedehusene, Denmark.

Stock analysis

DSV A/S (0JN9) currently trades at kr 1,205, while our model-based Fair Value estimate is kr 1,191, so the stock looks roughly fairly valued today (gap 1.1%).

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Valuation

Bull case: the DCF Models group reads highest at a median of kr 1,934 per share, and 9 of the 25 models we run sit above the kr 1,205 price.

Bear case: the Asset-Based group reads lowest at kr 175.34, and 16 of the 25 models stay below the price. Evidence for this calculation is low.

Scenario range: kr 833.96 (bear) to kr 1,549 (bull), the price of kr 1,205 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 60/100 (solid quality), in the Industrials sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

DSV A/S reported revenue of 116B DKK in FY2020 versus 67.7B DKK in FY2016, a compound +14.4%/yr. Reported net income was 4.3B DKK in FY2020, compounding +26.3%/yr from FY2016.

Key figures

Market cap 203B DKK (≈ $30.6B) · P/E ratio 0.2 · EPS (TTM) kr 56.42 · Dividend yield 0.6% · Net margin 3.7% · Return on equity 6.3% · Return on assets (EBIT) 9.0% · Operating margin 8.2%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).

What moves the price

The share trades about 36% below its 52-week high and 4% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at 15% fair-value upside, at −1%, 0JN9 screens richer than that median.

Fair Value models

Bear kr 833.96 Fair Value kr 1,191 Bull kr 1,549
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
EPV kr 173.38 kr 205.62 kr 233.83 74
Residual Income kr 223.83 kr 244.39 kr 295.36 73
FCF DCF kr 2,192 kr 3,907 kr 8,464 71
All 25 models by family
DCF Models
FCF DCF kr 2,192 kr 3,907 kr 8,464 71
5Y Revenue Exit kr 894.93 kr 1,390 kr 2,099 68
5Y EBITDA Exit kr 1,075 kr 1,791 kr 2,793 70
5Y P/E Exit kr 876.87 kr 1,375 kr 1,946 67
10Y Revenue Exit kr 1,269 kr 1,966 kr 2,868 63
10Y EBITDA Exit kr 1,408 kr 2,287 kr 3,683 64
10Y P/E Exit kr 1,271 kr 1,934 kr 2,896 60
Earnings-Based
Graham-Dodd kr 159.61 kr 1,017 kr 1,422 61
Lynch FV kr 294.27 kr 420.38 kr 546.50 58
PEG = 1.0 kr 294.27 kr 420.38 kr 546.50 55
EPV kr 173.38 kr 205.62 kr 233.83 74
Dividend Discount
Gordon GGM kr 66.94 kr 139.17 kr 220.79 63
DDM Multi-Stage kr 66.94 kr 117.36 kr 146.07 64
Multiples
P/E Multiple kr 369.68 kr 492.91 kr 616.14 63
P/S Multiple kr 299.27 kr 399.02 kr 498.78 58
P/B Multiple kr 299.27 kr 399.02 kr 498.78 55
EV/EBIT kr 497.90 kr 670.56 kr 843.22 66
EV/EBITDA kr 639.12 kr 858.85 kr 1,079 67
EV/Revenue kr 349.61 kr 508.06 kr 666.50 53
Asset-Based
NCAV (Graham) kr 130.85 kr 175.34 kr 261.70 54
Growth DCF
Growth DCF kr 2,113 kr 4,346 kr 8,381 70
Rev-Margin DCF kr 894.93 kr 1,421 kr 2,171 68
Economic Profit
Residual Income kr 223.83 kr 244.39 kr 295.36 73
ROIC Compounder kr 173.38 kr 205.62 kr 233.83 69
Growth Earnings
Growth-Adj P/E kr 416.98 kr 595.69 kr 774.39 65

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Quality Score breakdown

Overall quality 60/100

Of which business quality 64 · Market factors (momentum, volatility) 30

Profitability 50
Margins and returns on capital today
Quality Growth 73
Are margins and returns improving?
Cashflow 94
Earnings quality: real cash, not paper profit
Fin. Strength 57
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 60
Calm price path (market factor)
Momentum 19
Price trend over the last 3–12 months (market factor)
52W Momentum 15
Distance to the 52-week high (market factor)

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 82/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+22.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+15.7%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
3.7% (2016) → 6.3% (2020)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no share-count history
not computed

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Integrated Freight & Logistics · 202 stocks

Beats the industry median on 5/10 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 60 · Top 25%
Fair Value upside −61.7% · Bottom 25%
Profitability
Return on equity (TTM) 6.3% · Below median
Return on assets 4.6% · Above median
Net margin (TTM) 2.4% · Below median
Operating margin (TTM) 8.2% · Above median
Growth and dividend
Revenue growth 23.7% · Top 25%
Dividend yield (TTM) 0.6% · Bottom 25%
Balance sheet
Debt / equity 0.16× · Above median

Valuation Multiplesvs Integrated Freight & Logistics median · lower = cheaper

P/E (TTM) 0.2× · Cheapest 25%

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Integrated Freight & Logistics stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
United Parcel Service, Inc UPS $93.44 $107.34 +15%
Deutsche Post AG DHL €55.74 €137.08 +146%
FedEx Corporation FDX $289.65 $349.54 +21%
Poste Italiane S.p.A PST €24.49 €14.24 −42%
Kuehne + Nagel International AG KNIN CHF 224.50 CHF 147.92 −34%
Expeditors International of Washington, Inc EXPD $188.58 $116.66 −38%
S.F. Holding 002352 ¥30.54 ¥109.70 +259%
J.B. Hunt Transport Services, Inc JBHT $226.07 $133.80 −41%
C.H. Robinson Worldwide, Inc CHRW $148.24 $87.31 −41%
ZTO Express (Cayman) Inc 2057 HK$153.20 HK$260.67 +70%

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DSV A/S · Fair Value
kr 1,191 −1%Fair Value
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Cite: Fair Value Calculator (2026). "DSV A/S Fair Value". https://www.fairvalue-calculator.com/stock/0JN9

Frequently asked questions

Is DSV A/S (0JN9) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of kr 1,191 versus a price of kr 1,205, about −1% upside (fairly valued).
What is the fair value of 0JN9?
Our model-based fair value for DSV A/S is kr 1,191 (as of Oct 3, 2026), built from audited fundamentals. The current price: kr 1,205.
What is the quality score of 0JN9?
DSV A/S has a Quality Score of 60/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for DSV A/S (0JN9)?
Our model-based price target is the fair value of kr 1,191 (as of Oct 3, 2026) from 25 valuation models. Cautious scenario kr 833.96, optimistic scenario kr 1,549. It is a calculation from audited fundamentals, not an analyst target.
What is the DSV A/S stock forecast for 2026?
Our models put fair value at kr 1,191, about −1% upside versus a price of kr 1,205 (fairly valued). Cautious scenario kr 833.96, optimistic scenario kr 1,549. The calculation is refreshed regularly with new filings.
What is the revenue of DSV A/S (0JN9)?
DSV A/S reported trailing-twelve-month revenue of about 291B DKK (latest available figure, as of Oct 3, 2026).
Does DSV A/S pay a dividend?
DSV A/S currently shows a dividend yield of about 0.58% relative to its recent price (as of Oct 3, 2026).
What is the intrinsic value of DSV A/S (0JN9)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For DSV A/S it is kr 1,191 per share (as of Oct 3, 2026), against a price of kr 1,205. It is the blended result of 25 valuation models (cash flow, earnings, asset, dividend).
Is DSV A/S stock overvalued or undervalued in 2026?
As of Oct 3, 2026, 0JN9 trades above its calculated fair value: price kr 1,205, fair value kr 1,191, a gap of about −1% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 0JN9?
No. The price is what the market pays today (kr 1,205); the fair value is what the company's own numbers justify (kr 1,191). For DSV A/S the two are kr 13.12 per share apart. That gap is exactly why we show both numbers side by side.
How much is DSV A/S worth?
The market values DSV A/S at about 203B DKK (market capitalisation, as of Oct 3, 2026). Per share that is kr 1,205; our models calculate a fair value of kr 1,191 per share.
What do the bullish and bearish scenarios say about 0JN9?
Our models span a range for DSV A/S: cautious scenario kr 833.96, base kr 1,191, optimistic kr 1,549 per share (as of Oct 3, 2026, price kr 1,205). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 0JN9?
DSV A/S trades at a price-to-earnings ratio of 0.2 (as of Oct 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 1,191 is built from several models across several years.
How solid is the balance sheet of DSV A/S (0JN9)?
Balance-sheet figures for DSV A/S (as of Oct 3, 2026): return on equity 6.3%, debt of 0.16 per unit of equity. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
How far is 0JN9 from its 52-week high?
DSV A/S trades at kr 1,205, about 36% below its 52-week high of kr 1,890 and 4% above the low of kr 1,163 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of kr 1,191 is for.
Which stocks are comparable to DSV A/S?
From the same area (Industrials) we also value United Parcel Service, Inc, Deutsche Post AG, FedEx Corporation, Poste Italiane S.p.A, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is DSV A/S stock attractive at the current price?
The data as of Oct 3, 2026: price kr 1,205, calculated fair value kr 1,191 (−1%), Quality Score 60/100, from 25 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 0JN9 calculated?
We run DSV A/S through 25 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of kr 1,191, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. DSV A/S itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of DSV A/S (0JN9)?
The closing price on Oct 2, 2026 was kr 1,205. Our model-based fair value is kr 1,191, about −1% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with DSV A/S right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (kr 833.96 to kr 1,549) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of DSV A/S

How large is the market capitalisation of DSV A/S (0JN9)?
The market capitalisation of DSV A/S is 203B DKK (≈ $30.6B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What are the earnings per share of DSV A/S (0JN9)?
Earnings per share at DSV A/S are kr 56.42 (price ÷ EPS = P/E 0.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of DSV A/S (0JN9)?
The dividend yield of DSV A/S is 0.6% (payout 12.4%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of DSV A/S (0JN9)?
The net margin of DSV A/S is 3.7% (fiscal year 2020). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of DSV A/S (0JN9)?
The return on equity (ROE) of DSV A/S is 6.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of DSV A/S (0JN9)?
On an EBIT basis the return on assets of DSV A/S is 9.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of DSV A/S (0JN9)?
The operating margin of DSV A/S is 8.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at DSV A/S (0JN9)?
Revenue at DSV A/S is growing +23.7% versus a year earlier (3y avg +15.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at DSV A/S (0JN9)?
Earnings per share at DSV A/S are growing −4.0% versus a year earlier. How much earnings per share grew versus a year earlier.
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