DSV Panalpina A/S (DSV) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of DSV Panalpina A/S stock DKK 712, price DKK 1,456, that is 51.1% below the price, quality 51 out of 100. Rating: strongly overvalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.
How to read this chart
60‑month range kr 850.64 – kr 1,894 · fair‑value band kr 486.58 – kr 903.65 · the kr 1,456 price screens above the kr 711.95 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.
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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.
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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 Panalpina A/S (DSV) currently trades at kr 1,456, while our model-based Fair Value estimate is kr 711.95, 51% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of kr 1,398 per share, and 5 of the 24 models we run sit above the kr 1,456 price.
Bear case: the Dividend Discount group reads lowest at kr 113.83, and 19 of the 24 models stay below the price. Data coverage for this calculation is high.
Scenario range: kr 486.58 (bear) to kr 903.65 (bull), the price of kr 1,456 sits above 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 51/100 (solid quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
DSV Panalpina A/S reported revenue of 245B DKK in FY2025 versus 182B DKK in FY2021, a compound +7.8%/yr. Reported net income was 8.1B DKK in FY2025, compounding −7.8%/yr from FY2021.
Key figures
Market cap 349B DKK (≈ $52.4B) Large · P/E ratio 43.4 · P/S ratio 1.17 · EPS (TTM) kr 33.53 · Dividend yield 0.5% · Net margin 2.6% · Return on equity 6.9% · Return on assets (EBIT) 9.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (medium confidence).
What moves the price
The share trades about 23% below its 52-week high and 28% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −11% fair-value upside, at −51%, DSV screens richer than that median.
Fair Value models
Bearkr 486.58Fair Value kr 711.95Bullkr 903.65
Price kr 1,456 · Downside -51.1%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (kr 22.46 per share) are deliberately not added.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.Coverage ⓘCoverage = 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.
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.85/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+47.5%
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.
+1.5%
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.
+16.3%
Start year 2020 (pandemic). Over 10 years: +17.0% a year
Revenue growth 25 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.
+17.5%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis.
+14.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+14.0%
Dividend (yield on the price)0.5%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.13.3% vs 14.4%, steady
Profit margin 2020 to 2025 ⓘ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.8% → 7%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes less growth than the company has delivered so far and about what analysts expect.
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).
+8.3%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+5.8%
Yearly sales growth analysts expect, extended to five years.
After inflation (Denmark: IMF forecast 2.1% a year to 2030, 2.0% from 2016 to 2025) that is about +6.0% a year for the price and +3.7% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (100 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
AI conclusion: Large scale supports organizational strength, yet thin margins and low ROE indicate limited durable advantage overall.
Main risk: Customers with strict decarbonisation targets might switch providers if DSV fails to offer sufficiently low-carbon logistics solutions, hitting volumes and margins.
Bull case: By scaling sustainable fuels and decarbonisation services through partnerships, DSV could attract more environmentally focused customers and strengthen its market position.
Bear case: If decarbonisation efforts lag behind customer expectations and regulatory demands, DSV might lose significant accounts and see its services become less competitive in tenders.
DSV continues to struggle with integration challenges in its Road division after the Schenker acquisition, where lost groupage volumes and weaker customer satisfaction are cutting deeper into margins than previously anticipated. This adds pressure across the core freight business beyond earlier issues in Air & Sea, leading to sharply reduced earnings expectations. Our models currently see the stock as overvalued. Will restored on-time delivery win back volumes and deliver synergies, or will Road drag persist and limit overall recovery?
Price, fair value, quality and upside side by side.
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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 · 210 stocks
P/B2.97× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
P/S (12 months)1.17× · Pricier than median
Price / free cash flow18.0× · Pricier than median
EV/EBITDA14.5× · Priciest 25%
PEG0.73× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 46
FUTURE (revenue growth)61· sector 47
PAST (return on equity)27· sector 32
HEALTH (low debt)76· sector 94
DIVIDEND (yield)10· sector 63
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is DSV Panalpina A/S (DSV) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of kr 711.95 versus a price of kr 1,456, about 51% lower (overvalued).
What is the fair value of DSV?
Our model-based fair value for DSV Panalpina A/S is kr 711.95 (as of Nov 3, 2026), built from audited fundamentals. The current price: kr 1,456.
What is the quality score of DSV?
DSV Panalpina A/S has a Quality Score of 51/100. 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 Panalpina A/S (DSV)?
Our model-based price target is the fair value of kr 711.95 (as of Nov 3, 2026) from 24 valuation models. Cautious scenario kr 486.58, optimistic scenario kr 903.65. It is a calculation from audited fundamentals, not an analyst target.
What is the DSV Panalpina A/S stock forecast for 2026?
Our models put fair value at kr 711.95, about 51% lower versus a price of kr 1,456 (overvalued). Cautious scenario kr 486.58, optimistic scenario kr 903.65. The calculation is refreshed regularly with new filings.
What is the revenue of DSV Panalpina A/S (DSV)?
DSV Panalpina A/S reported trailing-twelve-month revenue of about 299B DKK (latest available figure, as of Nov 3, 2026).
Does DSV Panalpina A/S pay a dividend?
DSV Panalpina A/S currently shows a dividend yield of 0.48% relative to its recent price (as of Nov 3, 2026).
What growth is priced into DSV Panalpina A/S (DSV)?
For today's price to be fair in a discounted-cash-flow model, DSV Panalpina A/S would have to grow free cash flow by +8.3 % per year for five years (discount rate 9.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +16.3 % per year. As of Nov 3, 2026.
What discount rate (WACC) does the fair value of DSV use?
Our models discount DSV Panalpina A/S at 9.0 %: a base by market capitalisation (large), damped by beta 0.99, country premium for Denmark. 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 DSV Panalpina A/S that is +8.3 % per year a year over ten years, using the same discount rate (9.0 %) and the same formula as our fair value.
How much growth has DSV Panalpina A/S (DSV) delivered so far?
Over the past 5 years revenue at DSV Panalpina A/S grew +16.3 % a year. The price currently implies +8.3 % 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 DSV Panalpina A/S (DSV) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into DSV Panalpina A/S (+8.3 % 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 DSV Panalpina A/S (DSV)?
The free-cash-flow yield on the price is 5.57 %: that much free cash flow DSV Panalpina A/S produces per unit of market value. When it exceeds the discount rate of our models (9.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of DSV Panalpina A/S (DSV)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For DSV Panalpina A/S it is kr 711.95 per share (as of Nov 3, 2026), against a price of kr 1,456. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is DSV Panalpina A/S stock overvalued or undervalued in 2026?
As of Nov 3, 2026, DSV trades above its calculated fair value: price kr 1,456, fair value kr 711.95, a gap of about −51% (overvalued). 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 DSV?
No. The price is what the market pays today (kr 1,456); the fair value is what the company's own numbers justify (kr 711.95). For DSV Panalpina A/S the two are kr 743.55 per share apart. That gap is exactly why we show both numbers side by side.
How much is DSV Panalpina A/S worth?
The market values DSV Panalpina A/S at about 349B DKK (market capitalisation, as of Nov 3, 2026). Per share that is kr 1,456; our models calculate a fair value of kr 711.95 per share.
What do the bullish and bearish scenarios say about DSV?
Our models span a range for DSV Panalpina A/S: cautious scenario kr 486.58, base kr 711.95, optimistic kr 903.65 per share (as of Nov 3, 2026, price kr 1,456). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of DSV?
DSV Panalpina A/S trades at a price-to-earnings ratio of 43.4 (as of Nov 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 711.95 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 32.1. Other multiples: PEG 0.7, P/B 3.0, P/S 1.2, EV/EBITDA 14.5.
What is the PEG ratio of DSV?
The PEG ratio of DSV Panalpina A/S is 0.73 (P/E divided by earnings growth, as of Nov 3, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of DSV Panalpina A/S (DSV)?
Balance-sheet figures for DSV Panalpina A/S (as of Nov 3, 2026): return on equity 6.9%, debt of 0.49 per unit of equity. They feed the Quality Score of 51/100, which measures business quality independently of the share price.
How far is DSV from its 52-week high?
DSV Panalpina A/S trades at kr 1,456, about 23% below its 52-week high of kr 1,894 and 28% above the low of kr 1,138 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of kr 711.95 is for.
Which stocks are comparable to DSV Panalpina 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 Panalpina A/S stock attractive at the current price?
The data as of Nov 3, 2026: price kr 1,456, calculated fair value kr 711.95 (−51%), Quality Score 51/100, from 24 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 DSV calculated?
We run DSV Panalpina A/S through 24 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 711.95, 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 15.5% above its aggregate fair value. DSV Panalpina 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 Panalpina A/S (DSV)?
The closing price on Nov 5, 2026 was kr 1,456. Our model-based fair value is kr 711.95, about 51% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with DSV Panalpina A/S right now?
The price sits above even our optimistic bull case (kr 903.65). The favourable scenario is already priced in. Solid but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (kr 486.58 to kr 903.65) leaves room in how you read the outcome.
Where does the earnings growth of DSV Panalpina A/S (DSV) come from?
Earnings per share at DSV Panalpina A/S grew +18.7 % a year from 2014 to 2025. Broken into its drivers: revenue per share +11.6 %, EBIT margin +5.4 %, tax rate −0.2 %, residual (interest, one-offs) +1.1 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of DSV Panalpina A/S
How large is the market capitalisation of DSV Panalpina A/S (DSV)?
The market capitalisation of DSV Panalpina A/S is 349B DKK (≈ $52.4B). 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 DSV Panalpina A/S (DSV)?
The price-to-sales ratio of DSV Panalpina A/S is 1.17 (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 DSV Panalpina A/S (DSV)?
Earnings per share at DSV Panalpina A/S are kr 33.53 (price ÷ EPS = P/E 43.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of DSV Panalpina A/S (DSV)?
The dividend yield of DSV Panalpina A/S is 0.5% (payout 20.9%). 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 Panalpina A/S (DSV)?
The net margin of DSV Panalpina A/S is 2.6% (last twelve months). 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 Panalpina A/S (DSV)?
The return on equity (ROE) of DSV Panalpina A/S is 6.9% (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 Panalpina A/S (DSV)?
On an EBIT basis the return on assets of DSV Panalpina A/S is 9.8% (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 Panalpina A/S (DSV)?
The operating margin of DSV Panalpina 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 Panalpina A/S (DSV)?
Revenue at DSV Panalpina A/S is growing +12.1% versus a year earlier (3y avg +1.5%). 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 DSV Panalpina A/S (DSV)?
Earnings per share at DSV Panalpina A/S are growing +44.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does DSV Panalpina A/S (DSV) carry?
The net debt of DSV Panalpina A/S is 109B DKK (fiscal year 2025, ≈ 5.6 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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Broad data
Nov 3, 2026