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Makes hearing aids under the ReSound brand and audio/headset devices under the Jabra brand.
Makes hearing aids under the ReSound brand and audio/headset devices under the Jabra brand.
Hearing aids are sold mostly through audiologists, retail chains and its own clinics, and are fitted by professionals, so channel relationships matter. Headsets sell mainly to businesses through IT resellers, with consumer earbuds a smaller part, so audio demand follows office and call-centre spending.
Moat: narrow (brand, IP / patents, distribution). Established hearing-aid clinical distribution channel plus a strong enterprise/consumer audio brand (Jabra).
Headquarters: Ballerup, Denmark · Founded: 1869 · Employees: 7,611
Size GN Store Nord A/S (GN.CO) is a Denmark Information Technology company (Telecommunications Equipment) with a market value of $2.70B, the 30th largest of 59 Denmark companies the cockpit tracks. Shares closed at DKK 123.65 on 6 Nov 2026.
Performance Over six months the shares gained 29.6%, against -29.4% for the median peer and +8.8% for the Denmark market (cap-weighted) — highest of 20 in its peer set.
Growth Revenue fell 25.5% over the last twelve months (peer median +8.0%); the operating margin is 3.2% (peer median 1.3%).
Valuation It trades at 2.1× enterprise value to sales against a peer median of 3.3× (8th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 19% a year for seven years (Req g). Recent delivered growth is +5%, so the hurdle is +14 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 3.7 points below its cost of capital (5.3% WACC).
Next results Next results expected around 11 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | DKK 12.9B | DKK 16.9B | DKK 18.0B | DKK 18.2B | DKK 18.7B |
| Revenue growth | — | -6% | -1% | -3% | — |
| Gross profit | DKK 5.51B | DKK 8.14B | DKK 8.44B | DKK 7.74B | DKK 7.80B |
| EBITDA | DKK 2.87B | DKK 3.06B | DKK 3.22B | DKK 2.59B | DKK 2.67B |
| Net income | -DKK 560M | DKK 653M | DKK 988M | DKK 228M | DKK 511M |
| Free cash flow | DKK 1.92B | DKK 2.53B | DKK 2.60B | DKK 2.54B | DKK 418M |
| Capital expenditure | DKK 1.91B | DKK 1.80B | DKK 1.59B | DKK 1.56B | DKK 2.21B |
| Total debt | DKK 10.5B | DKK 10.8B | DKK 11.5B | DKK 13.5B | DKK 16.3B |
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 | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| GN Store Nord A/S GN.CO | $2.70B | +30% | -26% | 3% | 2.1× | 18.5% |
| Sonova SOON.SW | $20.3B | +62% | -7% | 21% | 4.9× | 7.1% |
| Demant A/S DEMANT.CO | $11.6B | +62% | +10% | 18% | 3.9× | 6.8% |
| Logitech International LOGN.SW | $13.2B | -1% | -1% | 18% | 2.4× | -5.7% |
| HP Inc. HPQ | $25.7B | +27% | +9% | 7% | 0.5× | -7.0% |
| Sony 6758.T | $156B | +33% | +1% | 13% | 1.9× | 3.4% |
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 | GN.CO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +18.0% | -11.0% | 3rd highest of 21 |
| 6-month return | +29.6% | -29.4% | highest of 20 |
| Distance from 52-week high | -5.2% | -53.0% | highest of 21 |
| Revenue growth (TTM) | -25.5% | +8.0% | 2nd lowest of 21 |
| Operating margin | 3.2% | 1.3% | 9th highest of 21 |
| EV / Sales | 2.1× | 3.3× | 8th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 18.5% | 18.6% | 3rd least demanding of 6 |
| Growth delivered (Del g) | +4.7% | +12.0% | 2nd lowest of 6 |
| Hurdle (Req g minus delivered) | +13.9 pp | +7.9 pp | most demanding of 6 |
| ROIC minus cost of capital | -3.7 pp | -3.5 pp | 10th lowest of 21 |
| EV / EBITDA | 9.7× | 22.3× | cheapest of 4 |
| Net debt / EBITDA | 3.4× | -1.5× | most indebted of 5 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| GN Store Nord A/S GN.CO | Denmark | $2.70B | +30% | -26% | 3% | 2.1× | 18.5% | +4.7% |
| Shanghai HuaCe Navigation Technology 300627.SZ | China | $2.44B | -35% | 0% | 13% | 4.2× | 18.6% | +21.3% |
| WNC 6285.TW | Taiwan | $2.41B | -29% | +30% | 5% | 0.6× | -0.5% | +12.0% |
| Digi International DGII | United States | $2.40B | -4% | +20% | 15% | 4.9× | 20.5% | +9.0% |
| Wuhan Changjin Photonics Technology 688635.SS | China | $2.39B | n/a | +28% | 39% | 62.8× | n/a | n/a |
| Ondas ONDS | United States | $3.11B | -41% | +979% | -127% | 10.1× | n/a | n/a |
| Jushri Technologies 300762.SZ | China | $2.31B | -45% | -17% | -91% | 36.5× | n/a | n/a |
| Digital China 000034.SZ | China | $3.16B | -22% | +28% | 1% | 0.2× | n/a | n/a |
| Wingtech Technology 600745.SS | China | $2.26B | -59% | -93% | -30% | 5.5× | n/a | n/a |
| Hytera Communications 002583.SZ | China | $2.17B | -20% | +4% | 7% | 2.6× | n/a | n/a |
| Shanghai Longcheer Technology 603341.SS | China | $2.12B | +2% | +1% | 0% | 0.5× | n/a | n/a |
| Tongyu Communication 002792.SZ | China | $2.12B | -38% | +2% | -4% | 11.0× | n/a | n/a |
| Huber + Suhner HUBN.SW | Switzerland | $3.49B | -44% | -4% | 9% | 3.1× | 11.1% | +3.2% |
| Shenzhen KTC Technology 001308.SZ | China | $2.09B | +3% | 0% | 3% | 1.2× | n/a | n/a |
| MeiG Smart Technology 002881.SZ | China | $1.92B | +8% | +24% | 7% | 2.8× | n/a | n/a |
| Calix CALX | United States | $1.89B | -29% | +23% | 5% | 1.5× | 23.1% | +13.1% |
| Fibocom Wireless 0638.HK | Hong Kong | $1.89B | -48% | +9% | 2% | 1.8× | n/a | n/a |
| Skyworth Digital 000810.SZ | China | $1.85B | -15% | +28% | 1% | 1.4× | n/a | n/a |
| Wuhan Yangtze Communication Industry 600345.SS | China | $1.85B | -23% | +13% | -8% | 11.2× | n/a | n/a |
| Beijing Tricolor Technology 603516.SS | China | $1.72B | -60% | -11% | -20% | 33.8× | n/a | n/a |
| Eastern Communications 600776.SS | China | $1.72B | -33% | +7% | -5% | 3.5× | n/a | n/a |