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A.P. Møller - Mærsk A/S (MAERSK-B) Fair Value & Analysis

Industrials · DK · Market cap 228B DKK (≈ $35.4B) · ISIN DK0010244508

What is A.P. Møller - Mærsk A/S really worth?

AP A.P. Møller - Mærsk A/S MAERSK-B · CO
Pricekr 22,610
Fair Valuekr 20,145
Upside−10.9%
Quality61/100

A solid business, but trading 12% above our fair value of kr 20,145.

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Strengths

✓Low debt · generates free cash flow

Risks

!Weak Growth (revenue 5y +6.3 %/yr)
!Thin margins · 3.0% net margin
!Mixed vs. peers (6/15)
!Narrow moat 32/100
!Weak on valuation: 19 out of 100
!Weak on past: 13 out of 100

For context

·2.12% dividend yield
Evidence: High Range kr 14,947 – kr 25,343

Fair value as of: Aug 27, 2026

From 25 valuation models · updated 8 days ago

Fair value updated Aug 27, 2026, revised from kr 20,077 to kr 20,145 (+0.3%) since Aug 21, 2026. Share price +34.8% over the past month.

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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

What matters now

  • The price sits in the upper half of our model range, so the margin of safety is thin.
  • The data supports the verdict: every model runs on fully documented inputs.

Price vs Fair Value (5 years)

kr 22,610 kr 7,451 Fair Value kr 20,145 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 27, 2026.

How to read this chart

60‑month range kr 7,451 – kr 22,610 · fair‑value band kr 14,947 – kr 25,343 · the kr 22,610 price screens above the kr 20,145 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 27, 2026.

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Analysis

A.P. Møller - Mærsk A/S (MAERSK-B) currently trades at kr 22,610, while our model-based Fair Value estimate is kr 20,145, implying the stock looks roughly 12.2% overvalued today. The Quality Score stands at 61/100 (solid quality), in the Industrials sector. Bull case: the DCF Models group reads highest at a median of kr 4,953 per share, and 0 of the 25 models we run sit above the kr 22,610 price. Bear case: the Earnings-Based group reads lowest at kr 2,093, and 25 of the 25 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, A.P. Møller - Mærsk A/S generated revenue of 53.6B DKK at a net margin of 3.0%. Revenue declined 2.6% year over year. It earns a return on equity of 3.2%. Net debt stands at 9.9B DKK. Fundamentals as of Aug 27, 2026

Our scenario range runs from kr 14,947 (bear case) to kr 25,343 (bull case); at kr 22,610, 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 near its 52-week high and 103% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at 42% fair-value upside, at −11%, MAERSK-B screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly kr 156.34 per share, which is 0.8 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (kr 579.86 to kr 8,469). Read the values as a conservative anchor, not as a price target.
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
FCF DCF best evidence kr 4,861 kr 6,921 kr 9,962 77
Growth DCF kr 5,028 kr 6,986 kr 9,771 75
Owner Earnings kr 3,503 kr 4,953 kr 7,093 73
All 25 models by family
DCF Models
FCF DCF best evidence kr 4,861 kr 6,921 kr 9,962 77
Owner Earnings kr 3,503 kr 4,953 kr 7,093 73
5Y Revenue Exit kr 2,944 kr 3,865 kr 4,955 71
5Y EBITDA Exit kr 5,364 kr 8,117 kr 11,156 72
5Y P/E Exit kr 3,480 kr 4,809 kr 6,099 69
10Y Revenue Exit kr 3,549 kr 4,503 kr 5,600 65
10Y EBITDA Exit kr 5,140 kr 7,423 kr 10,172 66
10Y P/E Exit kr 3,942 kr 5,151 kr 6,443 62
Earnings-Based
Graham-Dodd kr 1,213 kr 2,617 kr 3,327 61
PEG = 1.0 kr 405.90 kr 579.86 kr 753.82 53
EPV kr 1,821 kr 2,093 kr 2,335 72
Dividend Discount
Gordon GGM kr 1,664 kr 2,647 kr 3,777 63
DDM Multi-Stage kr 1,664 kr 2,441 kr 3,361 62
Multiples
P/E Multiple kr 2,810 kr 3,747 kr 4,683 61
P/S Multiple kr 2,275 kr 3,033 kr 3,791 56
P/B Multiple kr 2,275 kr 3,033 kr 3,791 53
EV/EBIT kr 2,709 kr 3,520 kr 4,331 65
EV/EBITDA kr 6,421 kr 8,469 kr 10,517 66
EV/Revenue kr 2,013 kr 2,757 kr 3,501 53
Asset-Based
NCAV (Graham) kr 1,820 kr 2,438 kr 3,639 52
Growth DCF
Growth DCF kr 5,028 kr 6,986 kr 9,771 75
Rev-Margin DCF kr 2,944 kr 3,943 kr 5,021 71
Economic Profit
Residual Income kr 2,855 kr 2,931 kr 2,878 73
ROIC Compounder kr 1,821 kr 2,093 kr 2,335 69
Growth Earnings
Growth-Adj P/E kr 2,077 kr 2,967 kr 3,857 64

Widest divergence: DCF Models (kr 4,953) versus Earnings-Based (kr 2,093). Highest evidence: FCF DCF (77).

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Key figures & financial health

P/E ratio 22.8 as of May 31, 2026
P/S ratio 1.15 P/E × margin
EPS (TTM) kr 692.48 price ÷ EPS = P/E 22.8
Dividend yield 2.1% payout 69.3%
Net margin 5.0% FY2025
Return on equity 3.2% TTM
More key figures
Profitability
Return on assets (EBIT) 20.3% avg 5y
Operating margin 1.6% TTM
Growth
Revenue (TTM) 53.6B DKK TTM
Revenue growth (YoY) −2.6% 3y avg −12.8%
EPS growth (YoY) −94.6%
Balance sheet & cash flow
Free cash flow 6.3B DKK FY2025
Net debt 9.9B DKK FY2025 · ≈ 1.6 yrs of FCF

Figures from reported company fundamentals · as of Aug 27, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 61/100

Of which business quality 60 · Market factors (momentum, volatility) 85

Profitability 28
Margins and returns on capital today
Quality Growth 30
Are margins and returns improving?
Cashflow 61
Earnings quality: real cash, not paper profit
Fin. Strength 69
Balance sheet, leverage, solvency risk
Investment 87
Disciplined investing over empire-building
Low Volatility 72
Calm price path (market factor)
Momentum 84
Price trend over the last 3–12 months (market factor)
52W Momentum 100
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

A.P. Møller - Mærsk A/S, together with its subsidiaries, operates as an integrated logistics company in Denmark and internationally. The company operates through Ocean, Logistics & Services, and Terminals segments.

Full company description

A.P. Møller - Mærsk A/S, together with its subsidiaries, operates as an integrated logistics company in Denmark and internationally. The company operates through Ocean, Logistics & Services, and Terminals segments. The company offers ocean, inland, less-than-container load, and air and ground freight solutions; warehousing, distribution, and depot services; cold chain solutions, cold chain management, pharmaceutical cold chain management, and cold storage solutions; and customs clearance, e-commerce logistics, and lead logistics services. It also provides ocean transport, specialized airlift, and vessel chartering services; project planning, orchestration, and site support; specialized cargo handling, cargo storage, and survey services. In addition, the company offers value-added services, such as labelling, relabeling, tagging or retagging, kitting and product customization, garments on hangers, re-packing, quality controls, reporting, shaving/topping off pallets, reverse logistics, and goods disposal services. It serves FMCG, fashion and lifestyle, retail, chemicals, automotive, technology, pharma and healthcare, and perishables industries. The company was founded in 1904 and is based in Copenhagen, Denmark.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

A.P. Møller - Mærsk A/S reported revenue of $54.0B in FY2025 versus $61.8B in FY2021, a compound −3.3%/yr. Reported net income was $2.7B in FY2025, compounding −37.6%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
54.0B DKK
Latest YoY
−2.7%
Avg. revenue 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.
−12.8%
Avg. revenue 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.
+6.3%
Avg. revenue growth/yr (23Y) ⓘ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.
+4.1%
Value creation/yr (5Y) ⓘEarnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+6.3% · in DKK
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+4.2%
Dividend yield2.1%
Trend ⓘ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.5Y 4.2% vs 10Y 3.0%, steady
Operating margin (EBIT) ⓘ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.20.3% (2020) → 5.4% (2025) · falling
Worst earnings drop257% (2017) (loss year, drop beyond 100%) · in DKK
Revenue −3.3%/yr
FY21 $61.8B
FY22 $81.5B
FY23 $51.1B
FY24 $55.5B
FY25 $54.0B
Net income −37.6%/yr
FY21 $17.9B
FY22 $29.2B
FY23 $3.8B
FY24 $6.1B
FY25 $2.7B
Character of growth · EPS growth decomposed (2014-2025) +7.4 % p.a.
Revenue per share +8.8 %

of which total revenue +5.4 % · buybacks/dilution +3.2 %

EBIT margin +2.7 %
Tax rate +3.8 %
Residual (interest, one-offs) −7.4 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

MAERSK-B screens 12% overvalued. Compare with Adani Ports and Special Economic Zone Limited →

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A.P. Møller - Mærsk A/S · Fair Value
kr 20,145 −12%Fair Value
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Cite: Fair Value Calculator (2026). "A.P. Møller - Mærsk A/S Fair Value". https://www.fairvalue-calculator.com/stock/MAERSK-B

Peer Group

Marine Shipping · 232 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 61 · Above median
Fair Value upside −11% · Below median
Return on equity (TTM) 3% · Below median
Return on assets 1% · Below median
Net margin (TTM) 3% · Below median
Operating margin (TTM) 2% · Bottom 25%
Revenue growth −3% · Below median
Dividend yield (TTM) 2.1% · Below median
Debt / equity 0.09× · Lower than median

Valuation Multiples vs Marine Shipping median · lower = cheaper

P/E (TTM) 22.8× · Pricier than median
P/B 0.64× · Cheaper than median
P/S (TTM) 0.66× · Cheaper than 75% of peers
P/FCF 5.6× · Pricier than median
EV/EBITDA 6.0× · Cheaper than median
PEG 0.38× · Cheaper than 75% of peers

Strength profile in five axes (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
VALUE19 · sector 32
FUTURE0 · sector 24
PAST13 · sector 28
HEALTH96 · 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

Similar stocks

10 more Marine Shipping stocks, each showing price versus our Fair Value estimate (as of Aug 27, 2026).

Stock Price Fair Value vs Fair Value
Adani Ports and Special Economic Zone Limited ADANIPORTS ₹1,714 ₹1,041 −39%
532921 532921 ₹1,697 ₹1,305 −23%
COSCO SHIPPING Holdings 601919 ¥16.06 ¥49.90 +211%
Hapag-Lloyd Aktiengesellschaft, HLAG €132.80 €88.00 −34%
Shanghai International Port (Group) Co 600018 ¥5.17 ¥6.15 +19%
HMM Co 011200 21,450 KRW 33,795 KRW +58%
Orient Overseas (International) Limited 0316 HK$166.90 HK$237.61 +42%
Ningbo Zhoushan Port Company 601018 ¥3.39 ¥5.58 +65%
Qingdao Port International Co 601298 ¥8.69 ¥15.97 +84%
JSW Infrastructure Limited JSWINFRA ₹329.85 ₹122.71 −63%

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Frequently asked questions

Is A.P. Møller - Mærsk A/S (MAERSK-B) overvalued or undervalued?
As of Aug 27, 2026, our model estimates a fair value of kr 20,145 versus a price of kr 22,610, about −11% upside (overvalued).
What is the fair value of MAERSK-B?
Our model-based fair value for A.P. Møller - Mærsk A/S is kr 20,145 (as of Aug 27, 2026), built from audited fundamentals. The current price: kr 22,610.
What is the quality score of MAERSK-B?
A.P. Møller - Mærsk A/S has a Quality Score of 61/100. 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 A.P. Møller - Mærsk A/S (MAERSK-B)?
A.P. Møller - Mærsk A/S reported trailing-twelve-month revenue of about 53.6B DKK (latest available figure, as of Aug 27, 2026).
What is the net profit margin of MAERSK-B?
The net profit margin of A.P. Møller - Mærsk A/S is about 3.0%, meaning it keeps roughly 3.0% of revenue as net income. Based on the latest reported figures.
Does A.P. Møller - Mærsk A/S pay a dividend?
A.P. Møller - Mærsk A/S currently shows a dividend yield of about 2.12% relative to its recent price (as of Aug 27, 2026).
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