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Bang & Olufsen A/S (BO) Fair Value & Analysis

Technology · DK · Market cap 1.3B DKK

BO Bang & Olufsen A/S BO · CO
Pricekr 9.87
Fair Valuekr 4.73
Upside-52.1%
Quality45/100
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Weak Growth
Loss-making · -4.3% net margin
Low debt · generates free cash flow
Trails peers (5/13)
Narrow moat 20/100
Evidence: Medium Range kr 3.53 – kr 7.05 Share as image

Fair value as of: Jul 17, 2026

From 12 valuation models · updated 24 days ago

Fair value updated Jul 17, 2026, revised from kr 1.99 to kr 4.73 (+137.7%) since Jul 15, 2026. Share price +11.1% over the past month.

Below-average quality, and screening another 52% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (kr 7.05). The favourable scenario is already priced in.
  • Solid but not exceptional quality (45/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (kr 3.53 to kr 7.05) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

kr 36.66 kr 7.79 Fair Value kr 4.73 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range kr 7.79 – kr 36.66 · fair‑value band kr 3.53 – kr 7.05 · the kr 9.87 price screens above the kr 4.73 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

Bang & Olufsen A/S (BO) currently trades at kr 9.87, while our model-based Fair Value estimate is kr 4.73, implying the stock looks roughly 52.1% overvalued today. The Quality Score stands at 45/100 (below-average quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, Bang & Olufsen A/S generated revenue of 2.5B DKK at a net margin of -3.6%. Revenue declined 3.2% year over year. It earns a return on equity of -9.1%. Net debt stands at 482M DKK. Fundamentals as of Jul 17, 2026

Our scenario range runs from kr 3.53 (bear case) to kr 7.05 (bull case); at kr 9.87, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 38% below its 52-week high and 20% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -16% fair-value upside, at -52%, BO screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

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. Evidence
Highest evidence
Growth DCF kr 3.41 kr 4.18 kr 5.37 80
Rev-Margin DCF kr 3.36 kr 4.64 kr 6.21 74
Gordon GGM kr 2.26 kr 2.43 kr 2.69 70
All 12 models by family
DCF Models
FCF DCF kr 3.32 kr 4.13 kr 5.49 38
5Y Revenue Exit kr 3.36 kr 4.57 kr 6.32 39
5Y EBITDA Exit kr 5.73 kr 8.67 kr 12.55 41
10Y Revenue Exit kr 3.26 kr 4.10 kr 4.98 36
10Y EBITDA Exit kr 4.64 kr 6.41 kr 8.32 37
Dividend Discount
Gordon GGM kr 2.26 kr 2.43 kr 2.69 70
DDM Multi-Stage kr 2.26 kr 2.68 kr 3.24 61
Multiples
EV/EBITDA kr 8.79 kr 11.50 kr 14.21 54
EV/Revenue kr 3.64 kr 4.93 kr 6.21 43
Asset-Based
NCAV (Graham) kr 3.53 kr 4.73 kr 7.05 50
Growth DCF
Growth DCF kr 3.41 kr 4.18 kr 5.37 80
Rev-Margin DCF kr 3.36 kr 4.64 kr 6.21 74

Widest divergence: Multiples (kr 4.93) versus Dividend Discount (kr 2.43). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 2.5B DKK
Revenue growth (YoY) -6.3%
Net margin -4.3%
Return on equity -10.0%
Free cash flow 47.0M DKK FY2026
Operating margin 4.7%
More key figures
EPS (TTM) kr -0.7000
EPS growth (YoY) +265%
Net debt 482M DKK FY2026

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 45/100

Of which business quality 46 · Market factors (momentum, volatility) 29

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 55
Balance sheet, leverage, solvency risk
Investment 97
Disciplined investing over empire-building
Low Volatility 43
Calm price path (market factor)
Momentum 28
Price trend over the last 3–12 months (market factor)
52W Momentum 14
Distance to the 52-week high (market factor)
Net Issuance 60
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

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.

Full company description

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.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

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

Growth Quality 20/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2026)
2.5B DKK
Latest YoY
−3.3%
Avg. growth/yr (3Y) 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.
−3.5%
Avg. growth/yr (5Y) 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.
−1.2%
Avg. growth/yr (27Y) 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.
−1.2%
Revenue −4.3%/yr
FY22 kr 2.9B
FY23 kr 2.8B
FY24 kr 2.6B
FY25 kr 2.6B
FY26 kr 2.5B
Net income
FY22 −kr 30.0M
FY23 −kr 141M
FY24 −kr 17.0M
FY25 −kr 29.0M
FY26 −kr 107M

BO screens 52% overvalued. Compare with Apple Inc →

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Cite: Fair Value Calculator (2026). "Bang & Olufsen A/S Fair Value". https://www.fairvalue-calculator.com/stock/BO

Peer Group

Consumer Electronics · 129 stocks

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.

Quality Score 45 · Below median
Fair Value upside −52% · Below median
Return on assets -0% · Below median
Net margin (TTM) -4% · Below median
Operating margin (TTM) 5% · Above median
Revenue growth -6% · Below median
Debt / equity 0.04× · Lower than median

Valuation Multiples vs Consumer Electronics median · lower = cheaper

P/B 0.20× · Cheaper than 75% of peers
P/S (TTM) 0.08× · Cheaper than 75% of peers
P/FCF 4.3× · Pricier than median
EV/EBITDA 1.7× · Cheaper than 75% of peers
PEG 3.81× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 8
FUTURE 0 · sector 13
PAST 0 · sector 10
HEALTH 98 · sector 97
DIVIDEND 0 · sector 29

VALUE 0: the price sits above our fair-value range.

Insider activity: 40/100

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Consumer Electronics stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
Apple Inc AAPL $313.33 $122.91 -61%
Samsung Electronics Co 005930 255,000 KRW 138,019 KRW -46%
Sony Group SONYN 366.00 MXN 468.94 MXN +28%
Xiaomi Corporation 1810 HK$26.88 HK$39.84 +48%
LG Electronics Inc 066570 179,000 KRW 101,531 KRW -43%
Sharetronic Data Technology Co 300857 ¥277.96 ¥35.89 -87%
Huaqin Co 603296 ¥78.20 ¥65.69 -16%
Goertek Inc 002241 ¥22.25 ¥18.86 -15%
LG Corp 003550 102,400 KRW 93,881 KRW -8%
Anker Innovations Limited 300866 ¥105.92 ¥78.52 -26%

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Frequently asked questions

Is Bang & Olufsen A/S (BO) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of kr 4.73 versus a price of kr 9.87, about −52% (overvalued).
What is the fair value of BO?
Our model-based fair value for Bang & Olufsen A/S is kr 4.73 (as of Jul 17, 2026), built from audited fundamentals. The current price is kr 9.87.
What is the quality score of BO?
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 revenue of Bang & Olufsen A/S (BO)?
Bang & Olufsen A/S reported trailing-twelve-month revenue of about 2.5B DKK (latest available figure, as of Jul 17, 2026).
What is the net profit margin of BO?
The net profit margin of Bang & Olufsen A/S is about -3.6%, meaning it is currently running at a net loss. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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