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NKT A/S (NKT) Fair Value & Analysis

Industrials · DK · Market cap 50.1B DKK

NA NKT A/S NKT · CO
Pricekr 912.50
Fair Valuekr 807.65
Upside-11.5%
Quality41/100
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Expensive Growth
Thin margins · 7.8% net margin
Low debt · negative free cash flow
Ranks above peers (8/13)
Moderate moat 52/100
Evidence: High Range kr 517.28 – kr 1,010 Share as image

Fair value as of: Jul 16, 2026

From 16 valuation models · updated 26 days ago

Fair value updated Jul 16, 2026, revised from kr 119.23 to kr 807.65 (+577.4%) since Jun 24, 2026. Share price −2.6% over the past month.

Below-average quality, and screening another 11% overvalued on our models.

What matters now

  • A fairly wide model range (kr 517.28 to kr 1,010) leaves room in how you read the outcome.
  • Our model range runs from kr 517.28 (bear) to kr 1,010 (bull), base kr 807.65. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 41/100 (below-average quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

kr 1,112 kr 221.28 Fair Value kr 807.65 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range kr 221.28 – kr 1,112 · fair‑value band kr 517.28 – kr 1,010 · the kr 912.50 price screens above the kr 807.65 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

NKT A/S (NKT) currently trades at kr 912.50, while our model-based Fair Value estimate is kr 807.65, implying the stock looks roughly 11.5% overvalued today. The Quality Score stands at 41/100 (below-average quality), in the Industrials 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, NKT A/S generated revenue of 3.6B DKK at a net margin of 7.8%. Revenue grew 3.2% year over year. It earns a return on equity of 13.4%. The balance sheet holds a net cash position of 963M DKK. Fundamentals as of Jul 16, 2026

Our scenario range runs from kr 517.28 (bear case) to kr 1,010 (bull case); at kr 912.50, 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. Analysts expect earnings well below the last reported figure (earnings in transition, for example expiring patents or contracts); a fair value that looks fair on trailing earnings may then be too optimistic. The share trades about 20% below its 52-week high and 90% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at -11%, NKT 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.

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 3.26 to kr 203.57). 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
Residual Income kr 38.44 kr 47.39 kr 117.17 76
ROIC Compounder kr 118.07 kr 140.83 kr 165.29 72
Gordon GGM kr 1.89 kr 3.93 kr 6.23 70
All 16 models by family
Earnings-Based
Graham-Dodd kr 34.99 kr 119.23 kr 159.94 54
Lynch FV kr 27.37 kr 39.10 kr 50.83 50
PEG = 1.0 kr 27.37 kr 39.10 kr 50.83 46
EPV kr 112.74 kr 128.14 kr 141.61 59
Dividend Discount
Gordon GGM kr 1.89 kr 3.93 kr 6.23 70
DDM Multi-Stage kr 1.89 kr 3.26 kr 4.12 61
Multiples
P/E Multiple kr 81.03 kr 108.04 kr 135.05 63
P/S Multiple kr 65.60 kr 87.46 kr 109.33 58
P/B Multiple kr 65.60 kr 87.46 kr 109.33 55
EV/EBIT kr 157.77 kr 203.57 kr 249.37 53
EV/EBITDA kr 147.48 kr 189.85 kr 232.22 54
EV/Revenue kr 104.41 kr 140.43 kr 176.45 43
Asset-Based
NCAV (Graham) kr 20.51 kr 27.49 kr 41.03 50
Economic Profit
Residual Income kr 38.44 kr 47.39 kr 117.17 76
ROIC Compounder kr 118.07 kr 140.83 kr 165.29 72
Growth Earnings
Growth-Adj P/E kr 69.20 kr 98.86 kr 128.51 68

Widest divergence: Multiples (kr 108.04) versus Dividend Discount (kr 3.26). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 3.6B DKK
Revenue growth (YoY) +3.2%
Net margin 7.8%
Return on equity 13.4%
Free cash flow −244M DKK FY2025
P/E ratio 27.4
More key figures
Operating margin 7.3%
EPS (TTM) kr 37.41
EPS growth (YoY) +8.0%
Net cash 963M DKK FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 41/100

Of which business quality 46 · Market factors (momentum, volatility) 71

Profitability 43
Margins and returns on capital today
Quality Growth 46
Are margins and returns improving?
Cashflow 36
Earnings quality: real cash, not paper profit
Fin. Strength 85
Balance sheet, leverage, solvency risk
Investment 0
Disciplined investing over empire-building
Low Volatility 71
Calm price path (market factor)
Momentum 66
Price trend over the last 3–12 months (market factor)
52W Momentum 82
Distance to the 52-week high (market factor)
Net Issuance 42
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

NKT A/S designs, manufactures, and installs low, medium, and high voltage power cable solutions in Denmark. It operates through Solutions, Applications and Service & Accessories segments.

Full company description

NKT A/S designs, manufactures, and installs low, medium, and high voltage power cable solutions in Denmark. It operates through Solutions, Applications and Service & Accessories segments. The company offers high voltage cable solutions, including high voltage onshore and offshore cables; medium voltage, dynamic, and universal cables; and low voltage building wires, flexible cables and conduits, control cables, 1 kV cables, and telecom energy and fire performance cables. The company also provides medium voltage cable accessories, such as joints, terminations, separable connector, paper-insulated lead sheath and pre-assembled connection cables, cable branch cabinets, and pre-assembled connection cables; and high voltage cable accessories comprising GIS/transformer terminations, low pressure oil-filled cable systems, outdoor terminations, wind power applications, and transition joints. In addition, it offers lifecycle cable services; and installation, operation and maintenance, repair, decommissioning, and cable monitoring solutions. Further, the company provides oil and gas cable competence center services, and technology consulting services; and offshore and onshore wind, and solar solutions. It operates in Germany, Sweden, the United Kingdom, Poland, the United States, Norway, the Czech Republic, France, the Netherlands, Portugal, and internationally. The company was formerly known as NKT Holding A/S and changed its name to NKT A/S in May 2017. NKT A/S was founded in 1891 and is based in Copenhagen, Denmark.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

NKT A/S reported revenue of kr 3.6B in FY2025 versus kr 1.9B in FY2021, a compound +16.9%/yr. Reported net income was kr 275M in FY2025, compounding +186.2%/yr from FY2021.

Growth Quality 57/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
3.6B DKK
Latest YoY
+9.6%
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.
+19.7%
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.
+19.4%
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.
−2.4%
Revenue +16.9%/yr
FY21 kr 1.9B
FY22 kr 2.1B
FY23 kr 2.6B
FY24 kr 3.3B
FY25 kr 3.6B
Net income +186.2%/yr
FY21 kr 4.1M
FY22 kr 62.4M
FY23 kr 124M
FY24 kr 337M
FY25 kr 275M
Character of growth · EPS growth decomposed (2014-2025) +21.9 % p.a.
Revenue per share −3.1 pp

of which total revenue +3.9 pp · buybacks/dilution −7.0 pp

EBIT margin +17.4 pp
Tax rate +7.1 pp
Residual (interest, one-offs) +0.5 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).

NKT screens 11% overvalued. Compare with Contemporary Amperex Technology Co →

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

Peer Group

Electrical Equipment & Parts · 526 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 41 · Bottom 25%
Fair Value upside −12% · Above median
Return on equity (TTM) 13% · Above median
Return on assets 7% · Top 25%
Net margin (TTM) 8% · Above median
Operating margin (TTM) 7% · Above median
Revenue growth 3% · Below median
Debt / equity 0.06× · Lower than median

Valuation Multiples vs Electrical Equipment & Parts median · lower = cheaper

P/E (TTM) 25.0× · Cheaper than median
P/B 3.53× · Pricier than median
P/S (TTM) 2.15× · Pricier than median
EV/EBITDA 9.6× · Cheaper than median
PEG 7.20× · 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 18 · sector 0
FUTURE 16 · sector 57
PAST 53 · sector 26
HEALTH 97 · sector 97
DIVIDEND 0 · sector 18

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 Electrical Equipment & Parts stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
Contemporary Amperex Technology Co 3750 HK$675.50 HK$391.44 -42%
ABB Ltd ABBN CHF 83.82 CHF 35.46 -58%
Delta Electronics (Thailand) Public Company TDED 10.16 SGD 1.47 SGD -86%
LG Energy Solution, Ltd 373220 334,000 KRW 201,455 KRW -40%
WEG S.A WEGE3 13,210 ARS 7,948 ARS -40%
Sungrow Power Supply Co 300274 ¥114.79 ¥123.83 +8%
Shenzhen Inovance Technology Co 300124 ¥63.43 ¥33.04 -48%
HD Hyundai Electric Co 267260 823,000 KRW 371,133 KRW -55%
LS ELECTRIC Co 010120 190,000 KRW 31,517 KRW -83%
Sieyuan Electric Co 002028 ¥151.73 ¥71.69 -53%

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Frequently asked questions

Is NKT A/S (NKT) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of kr 807.65 versus a price of kr 912.50, about −11% (overvalued).
What is the fair value of NKT?
Our model-based fair value for NKT A/S is kr 807.65 (as of Jul 16, 2026), built from audited fundamentals. The current price is kr 912.50.
What is the quality score of NKT?
NKT A/S has a Quality Score of 41/100. 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 NKT A/S (NKT)?
NKT A/S reported trailing-twelve-month revenue of about 3.6B DKK (latest available figure, as of Jul 16, 2026).
What is the net profit margin of NKT?
The net profit margin of NKT A/S is about 7.8%, meaning it keeps roughly 7.8% of revenue as net income. 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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