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Bang & Olufsen A/S (0MRM) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of Bang & Olufsen A/S DKK 21.75, price DKK 10.40, upside +109.1%, quality 45 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
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Industrials · GB · Home Denmark · ISIN DK0010218429

BO Thin data Sep 24, 2026

Bang & Olufsen A/S

0MRM · LSE

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

✓Fair value kr 21.75 · Strongly undervalued (+109.1%)
!Quality 45/100
!Weak Growth (revenue 5y −1.2 %/yr)
!Loss-making · -4.3% net margin (TTM)
✓Low debt · generates free cash flow
!Narrow moat 18/100
!Evidence only low, so the estimate is less certain

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

kr 38.30 kr 8.11 Fair Value kr 21.75 Oct 2020 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range kr 8.11 – kr 38.30 · fair‑value band kr 17.63 – kr 28.00 · the kr 10.40 price screens below the kr 21.75 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Bang & Olufsen A/S designs, develops, markets, manufactures, and sells audio and video products in Europe, the Middle East, Africa, the Americas, and the Asia Pacific.

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Bang & Olufsen A/S designs, develops, markets, manufactures, and sells audio and video products in Europe, the Middle East, Africa, the Americas, and the Asia Pacific. It offers portable and home audio speakers, as well as stereo, multiroom speaker sets, architectural speakers, and accessories; over-ear, in-ear, and headphones accessories; televisions, and remotes and smart home products; soundbars; accessories, such as cases and covers, ear tips and ear cushions, cables, brackets and stands, straps, and chargers and adapters. The company sells its products through its stores and online. The company was founded in 1925 and is headquartered in Struer, Denmark.

Stock analysis

Bang & Olufsen A/S (0MRM) currently trades at kr 10.40, while our model-based Fair Value estimate is kr 21.75, implying the stock looks roughly 52.2% undervalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of kr 22.33 per share, and 10 of the 10 models we run sit above the kr 10.40 price.

Bear case: the Asset-Based group reads lowest at kr 15.32, and 0 of the 10 models stay below the price. Evidence for this calculation is low.

Scenario range: kr 17.63 (bear) to kr 28.00 (bull), the price of kr 10.40 sits below 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 45/100 (below-average quality), in the Industrials sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

Bang & Olufsen A/S reported revenue of 2.5B DKK in FY2026 versus 2.9B DKK in FY2022, a compound −4.3%/yr. Reported net income was −107M DKK in FY2026.

Key figures

Market cap 350M DKK (≈ $52.7M) · P/S ratio 0.14 · EPS (TTM) kr −0.0430 · Net margin −4.3% · Return on equity −10.0% · Return on assets (EBIT) −0.4% · Operating margin 4.7% · Revenue (TTM) 2.5B DKK.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).

What moves the price

The share trades about 29% below its 52-week high and 21% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −40% fair-value upside, at 109%, 0MRM screens cheaper than that median.

Fair Value models

Bear kr 17.63 Fair Value kr 21.75 Bull kr 28.00
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
FCF DCF kr 18.07 kr 22.33 kr 29.18 82
Growth DCF kr 18.48 kr 22.48 kr 28.43 80
5Y EBITDA Exit kr 22.32 kr 32.20 kr 45.28 75
All 10 models by family
DCF Models
FCF DCF kr 18.07 kr 22.33 kr 29.18 82
5Y Revenue Exit kr 14.14 kr 18.07 kr 23.74 74
5Y EBITDA Exit kr 22.32 kr 32.20 kr 45.28 75
10Y Revenue Exit kr 15.75 kr 18.51 kr 21.30 68
10Y EBITDA Exit kr 20.19 kr 25.97 kr 32.08 70
Multiples
EV/EBITDA kr 30.24 kr 39.77 kr 49.30 67
EV/Revenue kr 11.38 kr 15.55 kr 19.71 54
Asset-Based
NCAV (Graham) kr 11.43 kr 15.32 kr 22.86 54
Growth DCF
Growth DCF kr 18.48 kr 22.48 kr 28.43 80
Rev-Margin DCF kr 14.14 kr 18.53 kr 24.09 74

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Quality Score breakdown

Overall quality 45/100

Of which business quality 45 · Market factors (momentum, volatility) 31

Profitability 37
Margins and returns on capital today
Quality Growth 25
Are margins and returns improving?
Cashflow 22
Earnings quality: real cash, not paper profit
Fin. Strength 52
Balance sheet, leverage, solvency risk
Investment 97
Disciplined investing over empire-building
Low Volatility 41
Calm price path (market factor)
Momentum 35
Price trend over the last 3–12 months (market factor)
52W Momentum 13
Distance to the 52-week high (market factor)
Net Issuance 60
Share count: buybacks or dilution?

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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. 20/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−3.3%
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.
−3.5%
Revenue growth 5 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.
−1.2%
Start year 2021 (pandemic). Over 10 years: −0.6% a year
Revenue growth 27 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.
−1.2%
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.
0.7% (2021) → −0.3% (2026)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
not computed

Growth Forecast

A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+24.9%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Denmark: IMF forecast 2.1% a year to 2030, 2.0% from 2016 to 2025) that is about +22.3% a year for the price.

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Compare Bang & Olufsen A/S with another stock

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Peer GroupⓘHow this stock ranks against its sector: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median. (Industry “Commercial Services & Supplies” was too small, so the broader sector is used.)Industrials · 5266 stocks

Beats the sector median on 5/10 measures
A mixed picture versus its sector peers.
Valuation
Quality Score 45 · Below median
Fair Value upside +153.8% · Top 25%
Profitability
Return on assets −0.4% · Bottom 25%
Net margin (TTM) −4.3% · Bottom 25%
Operating margin (TTM) 4.7% · Below median
Growth and dividend
Revenue growth −6.3% · Bottom 25%
Balance sheet
Debt / equity 0.06× · Below median

Valuation Multiplesvs Industrials median · lower = cheaper

P/B 0.05× · Cheapest 25%
P/S (TTM) 0.02× · Cheapest 25%
P/FCF 1.2× · 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

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HD Hyundai Heavy Industries Co 329180 441,000 KRW 485,100 KRW +10%
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Cite: Fair Value Calculator (2026). "Bang & Olufsen A/S Fair Value". https://www.fairvalue-calculator.com/stock/0MRM

Frequently asked questions

Is Bang & Olufsen A/S (0MRM) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of kr 21.75 versus a price of kr 10.40, about +109% upside (undervalued).
What is the fair value of 0MRM?
Our model-based fair value for Bang & Olufsen A/S is kr 21.75 (as of Sep 24, 2026), built from audited fundamentals. The current price: kr 10.40.
What is the quality score of 0MRM?
Bang & Olufsen A/S has a Quality Score of 45/100. 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 Bang & Olufsen A/S (0MRM)?
Our model-based price target is the fair value of kr 21.75 (as of Sep 24, 2026) from 10 valuation models. Cautious scenario kr 17.63, optimistic scenario kr 28.00. It is a calculation from audited fundamentals, not an analyst target.
What is the Bang & Olufsen A/S stock forecast for 2026?
Our models put fair value at kr 21.75, about +109% upside versus a price of kr 10.40 (undervalued). Cautious scenario kr 17.63, optimistic scenario kr 28.00. The calculation is refreshed regularly with new filings.
What is the revenue of Bang & Olufsen A/S (0MRM)?
Bang & Olufsen A/S reported trailing-twelve-month revenue of about 2.5B DKK (latest available figure, as of Sep 24, 2026).
What growth is priced into Bang & Olufsen A/S (0MRM)?
For today's price to be fair in a discounted-cash-flow model, Bang & Olufsen A/S would have to grow free cash flow by +24.9 % per year for five years (discount rate 14.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -1.2 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 0MRM use?
Our models discount Bang & Olufsen A/S at 14.5 %: a base by market capitalisation (micro), damped by beta 1.37, country premium for United Kingdom. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Bang & Olufsen A/S that is +24.9 % per year a year over ten years, using the same discount rate (14.5 %) and the same formula as our fair value.
How much growth has Bang & Olufsen A/S (0MRM) delivered so far?
Over the past 5 years revenue at Bang & Olufsen A/S grew -1.2 % a year. The price currently implies +24.9 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Bang & Olufsen A/S (0MRM) growing?
The median revenue growth in the sector is +7.0 % a year. That is the yardstick for the growth priced into Bang & Olufsen A/S (+24.9 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Bang & Olufsen A/S (0MRM)?
The free-cash-flow yield on the price is 3.17 %: that much free cash flow Bang & Olufsen A/S produces per unit of market value. When it exceeds the discount rate of our models (14.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Bang & Olufsen A/S (0MRM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Bang & Olufsen A/S it is kr 21.75 per share (as of Sep 24, 2026), against a price of kr 10.40. It is the blended result of 10 valuation models (cash flow, earnings, asset, dividend).
Is Bang & Olufsen A/S stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 0MRM trades below its calculated fair value: price kr 10.40, fair value kr 21.75, a gap of about +109% (undervalued). 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 0MRM?
No. The price is what the market pays today (kr 10.40); the fair value is what the company's own numbers justify (kr 21.75). For Bang & Olufsen A/S the two are kr 11.35 per share apart. That gap is exactly why we show both numbers side by side.
How much is Bang & Olufsen A/S worth?
The market values Bang & Olufsen A/S at about 350M DKK (market capitalisation, as of Sep 24, 2026). Per share that is kr 10.40; our models calculate a fair value of kr 21.75 per share.
What do the bullish and bearish scenarios say about 0MRM?
Our models span a range for Bang & Olufsen A/S: cautious scenario kr 17.63, base kr 21.75, optimistic kr 28.00 per share (as of Sep 24, 2026, price kr 10.40). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Bang & Olufsen A/S (0MRM)?
Balance-sheet figures for Bang & Olufsen A/S (as of Sep 24, 2026): return on equity −10.0%, debt of 0.06 per unit of equity. They feed the Quality Score of 45/100, which measures business quality independently of the share price.
How far is 0MRM from its 52-week high?
Bang & Olufsen A/S trades at kr 10.40, about 29% below its 52-week high of kr 14.74 and 21% above the low of kr 8.58 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of kr 21.75 is for.
Which stocks are comparable to Bang & Olufsen A/S?
From the same area (Industrials) we also value Contemporary Amperex Technology Co, Delta Electronics (Thailand) Public Company, Larsen & Toubro Limited, Samsung C&T Corporation, 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 Bang & Olufsen A/S stock attractive at the current price?
The data as of Sep 24, 2026: price kr 10.40, calculated fair value kr 21.75 (+109%), Quality Score 45/100, from 10 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 0MRM calculated?
We run Bang & Olufsen A/S through 10 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 21.75, 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. Bang & Olufsen A/S currently trades 52 % below its own fair value, and the market average says nothing about that. 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 Bang & Olufsen A/S (0MRM)?
The closing price on Oct 2, 2026 was kr 10.40. Our model-based fair value is kr 21.75, about +109% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Bang & Olufsen A/S right now?
The price is below even our cautious bear case (kr 17.63). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (45/100) at a price below fair value, the discount is the argument here, not the business quality.

Key figures of Bang & Olufsen A/S

How large is the market capitalisation of Bang & Olufsen A/S (0MRM)?
The market capitalisation of Bang & Olufsen A/S is 350M DKK (≈ $52.7M). 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 is the P/S ratio of Bang & Olufsen A/S (0MRM)?
The price-to-sales ratio of Bang & Olufsen A/S is 0.14 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Bang & Olufsen A/S (0MRM)?
Earnings per share at Bang & Olufsen A/S are kr −0.0430. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Bang & Olufsen A/S (0MRM)?
The net margin of Bang & Olufsen A/S is −4.3% (fiscal year 2026). 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 Bang & Olufsen A/S (0MRM)?
The return on equity (ROE) of Bang & Olufsen A/S is −10.0% (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 Bang & Olufsen A/S (0MRM)?
On an EBIT basis the return on assets of Bang & Olufsen A/S is −0.4% (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 Bang & Olufsen A/S (0MRM)?
The operating margin of Bang & Olufsen A/S is 4.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Bang & Olufsen A/S (0MRM)?
Revenue at Bang & Olufsen A/S is growing −6.3% versus a year earlier (3y avg −3.5%). 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 Bang & Olufsen A/S (0MRM)?
Earnings per share at Bang & Olufsen A/S are growing +304% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Bang & Olufsen A/S (0MRM) carry?
The net debt of Bang & Olufsen A/S is 482M DKK (fiscal year 2026, ≈ 10.3 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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