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Owns and charters dry bulk carriers and product tankers for global commodity shipping.
Owns and charters dry bulk carriers and product tankers for global commodity shipping.
Mixes ships it owns with ships it rents in on short or long terms, and earns by matching them to cargo contracts at rates above its costs, besides gains from selling vessels when prices are high. Founded in 1871, it is Danish.
Moat: none (scale). Operates in a cyclical, commoditized shipping market with limited structural pricing power.
Headquarters: Hellerup, Denmark · Founded: 1871
Size Dampskibsselskabet NORDEN A/S (DNORD.CO) is a Denmark Industrials company (Marine Shipping) with a market value of $1.46B, the 39th largest of 59 Denmark companies the cockpit tracks. Shares closed at DKK 356.80 on 6 Nov 2026.
Performance Over six months the shares gained 15.2%, against -2.9% for the median peer and +8.8% for the Denmark market (cap-weighted) — 3rd highest of 20 in its peer set.
Growth Revenue grew 7.3% over the last twelve months (peer median +5.5%); the operating margin is 3.2% (peer median 16.5%).
Valuation It trades at 9.6× forward earnings against a peer median of 8.7× (8th most expensive of 18).
Capital Return on invested capital runs 0.2 points below its cost of capital (5.0% WACC).
Next results Next results expected around 10 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | DKK 24.4B | DKK 20.7B | DKK 27.9B | DKK 25.4B | DKK 37.6B |
| Revenue growth | — | -26% | +9% | -32% | — |
| Gross profit | DKK 1.41B | DKK 1.12B | DKK 1.22B | DKK 3.06B | DKK 6.29B |
| EBITDA | DKK 2.62B | DKK 2.42B | DKK 2.87B | DKK 4.56B | DKK 8.01B |
| Net income | DKK 1.13B | DKK 796M | DKK 1.12B | DKK 2.76B | DKK 5.26B |
| Free cash flow | -DKK 904M | -DKK 1.84B | -DKK 551M | DKK 2.93B | DKK 6.91B |
| Capital expenditure | DKK 3.40B | DKK 4.17B | DKK 3.25B | DKK 1.57B | DKK 2.32B |
| Total debt | DKK 5.52B | DKK 4.86B | DKK 3.82B | DKK 4.06B | DKK 5.68B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Dampskibsselskabet NORDEN A/S DNORD.CO | $1.46B | +15% | +7% | 3% | 9.6× | n/a |
| Star Bulk Carriers SBLK | $2.99B | 0% | +6% | 28% | 5.7× | -0.1% |
| TORM TRMD-A.CO | $3.87B | +8% | +41% | 41% | 3.5× | -17.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | DNORD.CO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -9.6% | -5.4% | 9th lowest of 21 |
| 6-month return | +15.2% | -2.9% | 3rd highest of 20 |
| Distance from 52-week high | -13.7% | -16.0% | 8th highest of 21 |
| Revenue growth (TTM) | +7.3% | +5.5% | 9th highest of 20 |
| Operating margin | 3.2% | 16.5% | 2nd lowest of 20 |
| Forward P/E | 9.6× | 8.7× | 8th most expensive of 18 |
| ROIC minus cost of capital | -0.2 pp | +2.2 pp | 6th lowest of 19 |
| EV / EBITDA | 5.0× | 5.9× | 5th cheapest of 17 |
| Net debt / EBITDA | 1.3× | 1.4× | 8th least indebted of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Dampskibsselskabet NORDEN A/S DNORD.CO | Denmark | $1.46B | +15% | +7% | 3% | 9.6× | n/a | n/a |
| Global Ship Lease GSL | United States | $1.41B | -8% | +6% | 48% | 4.1× | -15.2% | +22.1% |
| MITSUI-SOKO 9302.T | Japan | $1.52B | -22% | +6% | 7% | 17.8× | -1.6% | +3.4% |
| Costamare CMRE | United States | $1.54B | -28% | -42% | 44% | 5.2× | -6.9% | +13.0% |
| Solstad Maritime SOMA.OL | Norway | $1.36B | -6% | +17% | 40% | 5.5× | -2.5% | +22.7% |
| NS United Kaiun Kaisha,Ltd 9110.T | Japan | $1.58B | +39% | +11% | 11% | n/a | -5.0% | +10.7% |
| Ningbo Ocean Shipping 601022.SS | China | $1.58B | -7% | +13% | 11% | n/a | n/a | n/a |
| Dfds A/s DFDS.CO | Denmark | $1.33B | +8% | +3% | 3% | 17.0× | 4.6% | +17.2% |
| Rizhao Port 600017.SS | China | $1.26B | -7% | +3% | 13% | 17.1× | n/a | n/a |
| MPC Container Ships MPCC.OL | Norway | $1.26B | 0% | -15% | 37% | 7.8× | -13.3% | +27.1% |
| U-Ming Marine Transport 2606.TW | Taiwan | $1.70B | +6% | +13% | 29% | 8.7× | -3.8% | +12.8% |
| Capital Clean Energy Carriers CCEC | United States | $1.24B | +3% | +5% | 50% | 8.1× | n/a | n/a |
| Stolt-Nielsen SNI.OL | Norway | $1.82B | +4% | -5% | 11% | 8.8× | -4.5% | +9.5% |
| Volare Shipping VLCC.OL | Norway | $1.17B | n/a | n/a | n/a | n/a | n/a | n/a |
| CSSC (Hong Kong) Shipping 3877.HK | Hong Kong | $1.85B | -4% | -10% | 60% | 7.2× | -3.2% | +14.9% |
| Sumitomo Warehouse 9303.T | Japan | $1.87B | +4% | +2% | 6% | 16.3× | 11.3% | +0.4% |
| Genco Shipping & Trading GNK | United States | $1.13B | 0% | +26% | 17% | 10.2× | n/a | n/a |
| Clarkson CKN.L | United Kingdom | $1.90B | -5% | +15% | 14% | 13.9× | 5.2% | +12.0% |
| PanOcean 028670.KS | South Korea | $1.91B | -12% | +24% | 9% | 5.0× | n/a | n/a |
| 2020 Bulkers 2020.OL | Norway | $1.10B | +20% | +256% | 92% | 170.2× | 9.2% | +7.3% |
| d'Amico International Shipping DIS.MI | Italy | $1.09B | -3% | -15% | 36% | 8.0× | -7.3% | +2.3% |