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GN Store Nord A/S (GN) Fair Value & Analysis

Healthcare · DK · Market cap 13.3B DKK

GS GN Store Nord A/S GN · CO
Pricekr 98.82
Fair Valuekr 98.66
Upside-0.2%
Quality47/100
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Mixed Growth
Loss-making · -2.3% net margin
Moderate debt · generates free cash flow
Mixed vs. peers (7/14)
Narrow moat 25/100
Evidence: High Range kr 73.99 – kr 123.32 Share as image

Fair value as of: Jul 18, 2026

From 26 valuation models · updated 23 days ago

Share price +12.3% over the past month.

Below-average quality, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Our model range runs from kr 73.99 (bear) to kr 123.32 (bull), base kr 98.66. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 47/100 (below-average quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

kr 583.25 kr 82.56 Fair Value kr 98.66 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

60‑month range kr 82.56 – kr 583.25 · fair‑value band kr 73.99 – kr 123.32 · the kr 98.82 price screens above the kr 98.66 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.

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Analysis

GN Store Nord A/S (GN) currently trades at kr 98.82, while our model-based Fair Value estimate is kr 98.66, implying the stock looks roughly 0.2% fairly valued today. The Quality Score stands at 47/100 (below-average quality), in the Healthcare 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: high).

Over the trailing twelve months, GN Store Nord A/S generated revenue of 16.6B DKK at a net margin of -2.3%. Revenue declined 8.2% year over year. It earns a return on equity of 3.0%. Net debt stands at 10.0B DKK. Fundamentals as of Jul 18, 2026

Our scenario range runs from kr 73.99 (bear case) to kr 123.32 (bull case); at kr 98.82, the current price sits within 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 22% below its 52-week high and 16% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -22% fair-value upside, at 0%, GN 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 BearBaseBull Evidence
Highest evidence
Growth DCF kr 152.12 kr 255.27 kr 405.01 80
Residual Income kr 58.77 kr 60.36 kr 61.00 76
Rev-Margin DCF kr 89.08 kr 163.01 kr 250.04 74
All 26 models by family
DCF Models
FCF DCF kr 149.31 kr 267.21 kr 450.35 38
Owner Earnings kr 86.35 kr 167.23 kr 292.85 31
5Y Revenue Exit kr 89.08 kr 161.61 kr 252.99 39
5Y EBITDA Exit kr 147.32 kr 272.01 kr 418.12 41
5Y P/E Exit kr 61.30 kr 108.96 kr 157.92 38
10Y Revenue Exit kr 105.31 kr 177.28 kr 272.55 36
10Y EBITDA Exit kr 146.15 kr 254.48 kr 400.15 37
10Y P/E Exit kr 91.02 kr 140.46 kr 199.09 35
Earnings-Based
Graham-Dodd kr 30.49 kr 101.03 kr 135.17 54
Lynch FV kr 22.82 kr 32.60 kr 42.38 50
PEG = 1.0 kr 22.82 kr 32.60 kr 42.38 46
EPV kr 54.11 kr 71.65 kr 87.00 59
Dividend Discount
Gordon GGM kr 5.36 kr 11.14 kr 17.68 70
DDM Multi-Stage kr 5.36 kr 9.12 kr 11.70 61
Multiples
P/E Multiple kr 73.99 kr 98.66 kr 123.32 63
P/S Multiple kr 57.18 kr 76.24 kr 95.30 58
P/B Multiple kr 57.18 kr 76.24 kr 95.30 55
EV/EBIT kr 107.63 kr 160.54 kr 213.46 53
EV/EBITDA kr 169.68 kr 243.28 kr 316.88 54
EV/Revenue kr 62.18 kr 110.74 kr 159.30 43
Asset-Based
NCAV (Graham) kr 37.42 kr 50.14 kr 74.84 50
Growth DCF
Growth DCF kr 152.12 kr 255.27 kr 405.01 80
Rev-Margin DCF kr 89.08 kr 163.01 kr 250.04 74
Economic Profit
Residual Income kr 58.77 kr 60.36 kr 61.00 76
ROIC Compounder kr 54.11 kr 71.65 kr 101.66 72
Growth Earnings
Growth-Adj P/E kr 62.22 kr 88.88 kr 115.55 68

Widest divergence: DCF Models (kr 167.23) versus Dividend Discount (kr 9.12). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 16.6B DKK
Revenue growth (YoY) -8.2%
Net margin -2.3%
Return on equity 3.0%
Free cash flow 2.5B DKK FY2025
P/E ratio 54.6
More key figures
Operating margin -22.5%
EPS (TTM) kr 1.80
EPS growth (YoY) -6.5%
Net debt 10.0B DKK FY2025

Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 47/100

Of which business quality 51 · Market factors (momentum, volatility) 33

Profitability 35
Margins and returns on capital today
Quality Growth 26
Are margins and returns improving?
Cashflow 81
Earnings quality: real cash, not paper profit
Fin. Strength 36
Balance sheet, leverage, solvency risk
Investment 72
Disciplined investing over empire-building
Low Volatility 29
Calm price path (market factor)
Momentum 34
Price trend over the last 3–12 months (market factor)
52W Momentum 37
Distance to the 52-week high (market factor)
Net Issuance 59
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

GN Store Nord A/S provides hearing, audio, video, and gaming solutions in Denmark, Europe, North America, and internationally. The company operates through Hearing, Enterprise, and Gaming segments. The Hearing segment produces and sells hearing instruments and products. The Enterprise segment supplies audio and video devices for professional use.

Full company description

GN Store Nord A/S provides hearing, audio, video, and gaming solutions in Denmark, Europe, North America, and internationally. The company operates through Hearing, Enterprise, and Gaming segments. The Hearing segment produces and sells hearing instruments and products. The Enterprise segment supplies audio and video devices for professional use. The Gaming segment produces gaming devices and peripherals. It offers its products under the ReSound, Beltone, Interton, Danavox, Jabra Enhance, Jabra, BlueParrott, FalCom, SteelSeries, and KontrolFreek brands. GN Store Nord A/S was founded in 1869 and is based in Ballerup, Denmark.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

GN Store Nord A/S reported revenue of kr 16.9B in FY2025 versus kr 15.8B in FY2021, a compound +1.7%/yr. Reported net income was kr 653M in FY2025, compounding −21.9%/yr from FY2021.

Growth Quality 62/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
16.9B DKK
Latest YoY
−6.1%
Avg. growth/yr (3Y)
−3.3%
Avg. growth/yr (5Y)
+4.6%
Avg. growth/yr (25Y)
+3.6%
Revenue +1.7%/yr
FY21 kr 15.8B
FY22 kr 18.7B
FY23 kr 18.1B
FY24 kr 18.0B
FY25 kr 16.9B
Net income −21.9%/yr
FY21 kr 1.8B
FY22 kr 511M
FY23 kr 228M
FY24 kr 988M
FY25 kr 653M

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

Peer Group

Medical Devices · 351 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 47 · Below median
Fair Value upside −0% · Above median
Return on equity (TTM) 3% · Above median
Return on assets 3% · Above median
Net margin (TTM) -2% · Below median
Operating margin (TTM) -23% · Bottom 25%
Revenue growth -8% · Bottom 25%
Debt / equity 0.79× · Higher than 75% of peers

Valuation Multiples vs Medical Devices median · lower = cheaper

P/E (TTM) 50.6× · Pricier than 75% of peers
P/B 0.19× · Cheaper than 75% of peers
P/S (TTM) 0.12× · Cheaper than 75% of peers
P/FCF 0.8× · Cheaper than 75% of peers
EV/EBITDA 6.5× · Cheaper than 75% of peers
PEG 2.27× · 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.

VALUE 33 · sector 0
FUTURE 0 · sector 27
PAST 12 · sector 8
HEALTH 61 · sector 97
DIVIDEND 0 · sector 38

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 Medical Devices stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).

Stock Price Fair Value vs Fair Value
Abbott Laboratories, ABT $100.68 $74.79 -26%
Stryker Corporation SYK $316.44 $186.28 -41%
Medtronic plc MDT $83.56 $65.57 -22%
Boston Scientific Corporation BSX $43.04 $38.44 -11%
Edwards Lifesciences Corporation EW $85.73 $41.02 -52%
Siemens Healthineers AG SHL €34.59 €33.87 -2%
Shenzhen Mindray Bio-Medical Electronics Co 300760 ¥149.43 ¥147.63 -1%
Shanghai United Imaging Healthcare Co 688271 ¥109.00 ¥43.60 -60%
Demant A/S DEMANT kr 276.60 kr 161.17 -42%
Getinge AB GETIB kr 206.80 kr 192.14 -7%

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Frequently asked questions

Is GN Store Nord A/S (GN) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of kr 98.66 versus a price of kr 98.82, about −0% (fairly valued).
What is the fair value of GN?
Our model-based fair value for GN Store Nord A/S is kr 98.66 (as of Jul 18, 2026), built from audited fundamentals. The current price is kr 98.82.
What is the quality score of GN?
GN Store Nord A/S has a Quality Score of 47/100. 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 GN Store Nord A/S (GN)?
GN Store Nord A/S reported trailing-twelve-month revenue of about 16.6B DKK (latest available figure, as of Jul 18, 2026).
What is the net profit margin of GN?
The net profit margin of GN Store Nord A/S is about -2.3%, 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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