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Danish shipping and logistics giant operating one of the world's largest container fleets plus ports, terminals and freight forwarding.
Danish shipping and logistics giant operating one of the world's largest container fleets plus ports, terminals and freight forwarding.
Charges per container moved, on a mix of annual contracts and spot rates, so earnings swing with freight rates; terminals and logistics are steadier fee businesses. A founder-family foundation and holding company control the votes. After selling its oil and tanker businesses in the late 2010s it built out logistics, and in 2025 formed the Gemini network with Hapag-Lloyd.
In one line: No US-listed peer at this scale; a combined FedEx-freight-plus-ports operator..
Moat: narrow (scale, installed base). One of the largest global container fleets and terminal networks gives cost and route-density advantages.
Headquarters: Copenhagen, Denmark · Founded: 1904 · Employees: 107,638
Size A.P. Moller - Maersk A/S (MAERSK-A.CO) is a Denmark Industrials company (Marine Shipping) with a market value of $47.6B, the 3rd largest of 59 Denmark companies the cockpit tracks. Shares closed at DKK 20,180 on 6 Nov 2026.
Performance Over six months the shares gained 44.4%, against +11.0% for the median peer and +8.8% for the Denmark market (cap-weighted) — highest of 12 in its peer set.
Growth Revenue fell 7.6% over the last twelve months (peer median +1.1%); the operating margin is 5.0% (peer median 10.7%).
Valuation It trades at 5.9× forward earnings against a peer median of 7.3× (2nd cheapest of 12).
Price implies For today's price to make sense, revenue must grow about -1% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is -8 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.2 points below its cost of capital (5.0% WACC).
Credit A.P. Moller - Maersk A/S has 2 bonds outstanding ($1.25B), rated BBB+ by the agencies and trading like A at a weighted spread of 62 bp.
Next results Next results expected around 10 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | DKK 360B | DKK 357B | DKK 383B | DKK 352B | DKK 577B |
| Revenue growth | — | -7% | +9% | -39% | — |
| Gross profit | n/a | DKK 17.4B | DKK 41.2B | DKK 22.1B | DKK 217B |
| EBITDA | DKK 59.9B | DKK 60.8B | DKK 82.9B | DKK 64.1B | DKK 259B |
| Net income | DKK 14.7B | DKK 18.0B | DKK 42.1B | DKK 26.3B | DKK 207B |
| Free cash flow | DKK 34.1B | DKK 40.4B | DKK 57.3B | DKK 49.3B | DKK 215B |
| Capital expenditure | DKK 25.9B | DKK 31.7B | DKK 29.0B | DKK 25.1B | DKK 29.5B |
| Total debt | DKK 114B | DKK 120B | DKK 119B | DKK 100.0B | DKK 109B |
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 |
|---|---|---|---|---|---|---|
| A.P. Moller - Maersk A/S MAERSK-A.CO | $47.6B | +44% | -8% | 5% | 5.9× | -1.3% |
| COSCO SHIPPING 1919.HK | $38.5B | +20% | -5% | 13% | 6.0× | -8.7% |
| Hapag-Lloyd HLAG.DE | $25.1B | +11% | -9% | 2% | 18.5× | 34.4% |
| Evergreen Marine Corp(taiwan) 2603.TW | $16.1B | +28% | -20% | 15% | 5.0× | -9.1% |
| Yang Ming Marine Transport 2609.TW | $6.03B | +14% | -22% | 6% | 6.5× | n/a |
| HMM 011200.KS | $15.3B | +8% | -5% | 11% | 9.7× | -1.8% |
| ZIM Integrated Shipping Services ZIM | $3.37B | +5% | -25% | 6% | 3.7× | 2.7% |
| Dsv A/s DSV.CO | $51.5B | -3% | +37% | 8% | 23.5× | 3.9% |
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 | MAERSK-A.CO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -14.3% | -4.1% | 3rd lowest of 12 |
| 6-month return | +44.4% | +11.0% | highest of 12 |
| Distance from 52-week high | -16.9% | -12.7% | 4th lowest of 12 |
| Revenue growth (TTM) | -7.6% | +1.1% | 4th lowest of 12 |
| Operating margin | 5.0% | 10.7% | 2nd lowest of 12 |
| Forward P/E | 5.9× | 7.3× | 2nd cheapest of 12 |
| Growth the price implies (Req g, 7 yrs) | -1.3% | -2.0% | 5th most demanding of 11 |
| Growth delivered (Del g) | +6.6% | +7.8% | 5th lowest of 11 |
| Hurdle (Req g minus delivered) | -7.9 pp | -13.9 pp | 5th most demanding of 11 |
| ROIC minus cost of capital | -1.2 pp | +2.4 pp | 4th lowest of 12 |
| EV / EBITDA | 5.3× | 10.7× | 2nd cheapest of 9 |
| Net debt / EBITDA | -0.1× | 0.8× | 5th least indebted of 11 |
| Bond spread | 62 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| A.P. Moller - Maersk A/S MAERSK-A.CO | Denmark | $47.6B | +44% | -8% | 5% | 5.9× | -1.3% | +6.6% |
| COSCO SHIPPING 601919.SS | China | $39.0B | +24% | +6% | 16% | 6.9× | -17.9% | +5.0% |
| Kuehne & Nagel International KNIN.SW | Switzerland | $34.3B | +35% | +1% | 5% | 25.4× | 3.2% | +3.7% |
| Hapag-Lloyd HLAG.DE | Germany | $25.1B | +11% | -9% | 2% | 18.5× | 34.4% | +7.8% |
| China Merchants Energy Shipping 601872.SS | China | $19.6B | -8% | +60% | 39% | 6.3× | -9.5% | +5.4% |
| Nippon Yusen Kabushiki Kaisha 9101.T | Japan | $16.8B | +17% | 0% | 6% | 9.0× | 7.8% | +8.5% |
| Evergreen Marine Corp(taiwan) 2603.TW | Taiwan | $16.1B | +28% | -20% | 15% | 5.0× | -9.1% | +12.9% |
| SITC International 1308.HK | Hong Kong | $15.8B | +34% | +5% | 34% | 10.7× | -0.4% | +15.3% |
| HMM 011200.KS | South Korea | $15.3B | +8% | -5% | 11% | 9.7× | -1.8% | +11.2% |
| Mitsui O.s.k. Lines 9104.T | Japan | $15.0B | +10% | +20% | 6% | 7.3× | n/a | n/a |
| COSCO SHIPPING Energy Transportation 600026.SS | China | $13.2B | -21% | +38% | 33% | 6.1× | -8.2% | +7.8% |
| OOIL 0316.HK | Hong Kong | $12.8B | +10% | -8% | 10% | 5.9× | -2.3% | +3.6% |
A.P. Moller - Maersk A/S has 2 bonds outstanding with $1.25B face value. The agencies rate it BBB+; its bonds trade like A. Weighted yield 5.28%, a spread of 62 bp over government bonds.