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DFDS A/S (DFDS) Fair Value & Analysis

Industrials · DK · Market cap 6.9B DKK

DA DFDS A/S DFDS · CO
Pricekr 145.60
Fair Valuekr 427.33
Upside+193.5%
Quality48/100
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Mixed Growth
Loss-making · -0.9% net margin
Moderate debt · generates free cash flow
Trails peers (5/14)
Narrow moat 23/100
Evidence: High Range kr 218.51 – kr 728.59 Share as image

Fair value as of: Aug 13, 2026

From 12 valuation models · updated 6 days ago

Share price +16.4% over the past month.

Below-average quality, screening 194% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (kr 218.51). The market is more pessimistic than our downside scenario.
  • The model range is unusually wide (kr 218.51 to kr 728.59). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid quality (48/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

kr 364.69 kr 79.25 Fair Value kr 427.33 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range kr 79.25 – kr 364.69 · fair‑value band kr 218.51 – kr 728.59 · the kr 145.60 price screens below the kr 427.33 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

DFDS A/S (DFDS) currently trades at kr 145.60, while our model-based Fair Value estimate is kr 427.33, implying the stock looks roughly 193.5% undervalued today. The Quality Score stands at 48/100 (below-average quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, DFDS A/S generated revenue of 30.8B DKK at a net margin of -0.9%. Revenue declined 2.5% year over year. It earns a return on equity of -2.0%. Net debt stands at 19.5B DKK. Fundamentals as of Aug 13, 2026

Our scenario range runs from kr 218.51 (bear case) to kr 728.59 (bull case); at kr 145.60, the current price sits below 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 7% below its 52-week high and 75% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at 7% fair-value upside, at 194%, DFDS screens cheaper 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 225.33 kr 413.81 kr 679.56 80
Rev-Margin DCF kr 9.78 kr 61.13 kr 124.41 74
Gordon GGM kr 27.32 kr 54.43 kr 82.42 70
All 12 models by family
DCF Models
FCF DCF kr 222.43 kr 441.65 kr 774.28 38
Owner Earnings kr 141.73 kr 313.80 kr 574.89 31
5Y Revenue Exit kr 9.78 kr 55.13 kr 106.29 39
5Y EBITDA Exit kr 358.16 kr 723.76 kr 1,160 41
10Y Revenue Exit kr 83.23 kr 144.93 kr 218.59 36
10Y EBITDA Exit kr 304.06 kr 605.11 kr 1,024 37
Dividend Discount
Gordon GGM kr 27.32 kr 54.43 kr 82.42 70
DDM Multi-Stage kr 27.32 kr 46.96 kr 57.45 61
Multiples
EV/EBITDA kr 500.41 kr 718.15 kr 935.90 54
Asset-Based
NCAV (Graham) kr 123.77 kr 165.85 kr 247.54 50
Growth DCF
Growth DCF kr 225.33 kr 413.81 kr 679.56 80
Rev-Margin DCF kr 9.78 kr 61.13 kr 124.41 74

Widest divergence: Multiples (kr 718.15) versus Dividend Discount (kr 46.96). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 30.8B DKK
Revenue growth (YoY) -2.5%
Net margin -0.9%
Return on equity -2.0%
Free cash flow 1.8B DKK FY2025
Operating margin 0.2%
More key figures
EPS (TTM) kr -5.10
EPS growth (YoY) -50.6%
Net debt 19.5B DKK FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 48/100

Of which business quality 45 · Market factors (momentum, volatility) 60

Profitability 19
Margins and returns on capital today
Quality Growth 32
Are margins and returns improving?
Cashflow 38
Earnings quality: real cash, not paper profit
Fin. Strength 28
Balance sheet, leverage, solvency risk
Investment 89
Disciplined investing over empire-building
Low Volatility 45
Calm price path (market factor)
Momentum 63
Price trend over the last 3–12 months (market factor)
52W Momentum 71
Distance to the 52-week high (market factor)
Net Issuance 100
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

DFDS A/S provides freight and passenger transport services in Europe, Türkiye, North Africa, and internationally. It operates in two segments, Ferry Division and Logistics Division.

Full company description

DFDS A/S provides freight and passenger transport services in Europe, Türkiye, North Africa, and internationally. It operates in two segments, Ferry Division and Logistics Division. The company engages in the operation of network of ferry routes, including freight-only routes, combined freight and passenger routes, and ferries; owns and operates port terminals and rails; offers freight services to forwarders, hauliers, and manufacturers of heavy goods; and provides passenger services, such as overnight and day crossings. It also offers transport solutions comprising full and part-load transport; contract logistics, which includes warehousing and transport of frozen meat and fish; customs; and control towers for manufacturers of industrial goods and consumables, as well as retailers. The company was founded in 1866 and is headquartered in Copenhagen, Denmark.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

DFDS A/S reported revenue of kr 30.9B in FY2025 versus kr 17.9B in FY2021, a compound +14.7%/yr. Reported net income was −kr 427M in FY2025.

Growth Quality 62/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
30.9B DKK
Latest YoY
+4.0%
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.
+4.8%
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.
+17.2%
Avg. growth/yr (25Y) 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.
+8.2%
Revenue +14.7%/yr
FY21 kr 17.9B
FY22 kr 26.9B
FY23 kr 27.3B
FY24 kr 29.8B
FY25 kr 30.9B
Net income
FY21 kr 958M
FY22 kr 2.0B
FY23 kr 1.5B
FY24 kr 534M
FY25 −kr 427M
Character of growth · EPS growth decomposed (2014-2025) +1.3 % p.a.
Revenue per share +10.5 pp

of which total revenue +9.3 pp · buybacks/dilution +1.1 pp

EBIT margin −2.8 pp
Tax rate −1.0 pp
Residual (interest, one-offs) −5.4 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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

Peer Group

Marine Shipping · 237 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 48 · Below median
Fair Value upside +194% · Top 25%
Return on assets 1% · Bottom 25%
Net margin (TTM) -1% · Bottom 25%
Operating margin (TTM) 0% · Bottom 25%
Revenue growth -3% · Below median
Dividend yield (TTM) 2.1% · Below median
Debt / equity 0.75× · Higher than 75% of peers

Valuation Multiples vs Marine Shipping median · lower = cheaper

P/B 0.08× · Cheaper than 75% of peers
P/S (TTM) 0.04× · Cheaper than 75% of peers
P/FCF 0.6× · Cheaper than median
EV/EBITDA 3.7× · Cheaper than 75% of peers
PEG 2.41× · Pricier than median

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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE100 · sector 23
FUTURE0 · sector 18
PAST0 · sector 27
HEALTH62 · sector 89
DIVIDEND42 · sector 53

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 Marine Shipping stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Adani Ports and Special Economic Zone Limited ADANIPORTS ₹1,658 ₹1,041 -37%
A.P. Møller - Mærsk A/S MAERSKA kr 19,990 kr 32,156 +61%
HMM Co 011200 21,350 KRW 33,795 KRW +58%
JSW Infrastructure Limited JSWINFRA ₹346.60 ₹126.31 -64%
Wan Hai Lines Ltd 2615 87.10 TWD 212.79 TWD +144%
PT Transcoal Pacific Tbk, a shipping company, TCPI 3,060 IDR 368.32 IDR -88%
Pan Ocean Co 028670 5,630 KRW 11,840 KRW +110%
Sociedad Matriz SAAM S.A SMSAAM 137.00 CLP 146.51 CLP +7%
PT Ancara Logistics Indonesia Tbk ALII 795.00 IDR 350.80 IDR -56%
PT Pelayaran Nasional Ekalya Purnamasari Tbk ELPI 700.00 IDR 298.20 IDR -57%

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Frequently asked questions

Is DFDS A/S (DFDS) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of kr 427.33 versus a price of kr 145.60, about +194% (undervalued).
What is the fair value of DFDS?
Our model-based fair value for DFDS A/S is kr 427.33 (as of Aug 13, 2026), built from audited fundamentals. The current price: kr 145.60.
What is the quality score of DFDS?
DFDS A/S has a Quality Score of 48/100. 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 DFDS A/S (DFDS)?
DFDS A/S reported trailing-twelve-month revenue of about 30.8B DKK (latest available figure, as of Aug 13, 2026).
What is the net profit margin of DFDS?
The net profit margin of DFDS A/S is about -0.9%, 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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