Financials Pandora A/S

Equities

PNDORA

DK0060252690

Apparel & Accessories

Market Closed - Nasdaq Copenhagen 10:59:36 2024-04-26 am EDT 5-day change 1st Jan Change
1,100 DKK +2.04% Intraday chart for Pandora A/S +1.66% +17.87%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 26,955 67,867 78,157 43,696 76,748 89,356 - -
Enterprise Value (EV) 1 35,932 71,018 81,039 50,490 86,518 100,593 101,685 102,409
P/E ratio 9.63 x 34.2 x 19.6 x 9.09 x 16.9 x 17.4 x 14.9 x 13.1 x
Yield 6.21% 1.32% 1.96% 3.28% 1.71% 1.77% 2.07% 2.49%
Capitalization / Revenue 1.23 x 3.57 x 3.34 x 1.65 x 2.73 x 2.89 x 2.66 x 2.46 x
EV / Revenue 1.64 x 3.74 x 3.46 x 1.91 x 3.08 x 3.25 x 3.03 x 2.82 x
EV / EBITDA 5.84 x 11.5 x 10.3 x 5.79 x 9.49 x 9.96 x 9.2 x 8.35 x
EV / FCF 5.78 x 13 x 14.4 x 15.6 x 14.7 x 19.9 x 17.9 x 15.6 x
FCF Yield 17.3% 7.7% 6.96% 6.42% 6.81% 5.01% 5.58% 6.42%
Price to Book 5.13 x 9.19 x 11.2 x 6.09 x - 14.7 x 11.6 x 8.16 x
Nbr of stocks (in thousands) 93,011 99,658 95,851 89,522 82,242 81,233 - -
Reference price 2 289.8 681.0 815.4 488.1 933.2 1,100 1,100 1,100
Announcement Date 2/4/20 2/4/21 2/9/22 2/8/23 1/7/24 - - -
1DKK in Million2DKK
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 21,868 19,009 23,394 26,463 28,100 30,913 33,594 36,310
EBITDA 1 6,148 6,196 7,838 8,716 9,118 10,098 11,054 12,271
EBIT 1 5,854 3,881 5,839 6,743 7,000 7,767 8,597 9,582
Operating Margin 26.77% 20.42% 24.96% 25.48% 24.91% 25.13% 25.59% 26.39%
Earnings before Tax (EBT) 1 3,829 2,494 5,378 6,533 6,234 6,875 7,786 8,908
Net income 1 2,945 1,938 4,160 5,029 4,740 5,207 5,888 6,690
Net margin 13.47% 10.2% 17.78% 19% 16.87% 16.84% 17.53% 18.43%
EPS 2 30.10 19.90 41.70 53.70 55.10 63.14 74.00 84.28
Free Cash Flow 1 6,213 5,471 5,643 3,243 5,896 5,044 5,673 6,570
FCF margin 28.41% 28.78% 24.12% 12.25% 20.98% 16.32% 16.89% 18.09%
FCF Conversion (EBITDA) 101.06% 88.3% 72% 37.21% 64.66% 49.95% 51.32% 53.54%
FCF Conversion (Net income) 210.97% 282.3% 135.65% 64.49% 124.39% 96.87% 96.35% 98.2%
Dividend per Share 2 18.00 9.000 16.00 16.00 16.00 19.51 22.80 27.37
Announcement Date 2/4/20 2/4/21 2/9/22 2/8/23 1/7/24 - - -
1DKK in Million2DKK
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S1 2021 Q3 2021 Q4 2021 S2 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2022 S2 2023 Q1 2023 Q2 2023 S1 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 7,048 4,728 9,011 - 5,689 5,655 5,263 9,856 15,119 5,850 5,894 11,745 5,572 10,800 6,609 6,479 5,974 11,555
EBITDA 1 1,724 1,393 3,267 4,660 1,771 1,737 1,496 3,711 5,207 1,753 1,690 3,444 1,447 4,228 1,901 1,887 1,608 4,533
EBIT 1 671 957 2,678 - 1,310 1,249 978 3,206 4,184 1,256 1,188 2,445 920 3,700 1,332 1,373 1,083 3,825
Operating Margin 9.52% 20.24% 29.72% - 23.03% 22.09% 18.58% 32.53% 27.67% 21.47% 20.16% 20.82% 16.51% 34.26% 20.16% 21.19% 18.13% 33.1%
Earnings before Tax (EBT) 1 - 820 2,467 3,287 1,300 1,221 960 3,051 4,011 1,162 1,017 2,180 709 3,345 1,155 - - -
Net income 1 - 635 1,904 2,539 995 934 734 2,365 3,099 889 778 1,667 543 2,530 873 - - -
Net margin - 13.43% 21.13% - 17.49% 16.52% 13.95% 24% 20.5% 15.2% 13.2% 14.19% 9.75% 23.43% 13.21% - - -
EPS 2 - 6.400 19.10 25.50 10.40 9.800 7.800 25.20 - 10.00 8.800 18.90 6.300 29.60 10.33 10.12 7.460 36.04
Dividend per Share - - - - - - - - - - - - - - - - - 16.00
Announcement Date 8/17/20 11/1/21 2/9/22 2/9/22 5/4/22 8/16/22 11/8/22 2/8/23 2/8/23 5/3/23 8/15/23 8/15/23 11/8/23 1/7/24 - - - -
1DKK in Million2DKK
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 8,977 3,151 2,882 6,794 9,770 11,237 12,329 13,052
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.46 x 0.5086 x 0.3677 x 0.7795 x 1.072 x 1.113 x 1.115 x 1.064 x
Free Cash Flow 1 6,213 5,471 5,643 3,243 5,896 5,044 5,673 6,570
ROE (net income / shareholders' equity) 50.5% 30.7% 57.8% 71% 75.7% 95.7% 96.4% 85.1%
ROA (Net income/ Total Assets) 14.4% 9.33% 21.6% 24.8% 20.7% 21.4% 21.5% 22.3%
Assets 1 20,407 20,777 19,263 20,277 22,906 24,306 27,376 29,938
Book Value Per Share 2 56.50 74.10 73.10 80.20 - 74.60 95.00 135.0
Cash Flow per Share 2 69.20 61.30 62.50 47.30 85.80 82.80 91.90 111.0
Capex 1 812 504 585 1,191 1,488 2,005 2,123 2,256
Capex / Sales 3.71% 2.65% 2.5% 4.5% 5.3% 6.49% 6.32% 6.21%
Announcement Date 2/4/20 2/4/21 2/9/22 2/8/23 1/7/24 - - -
1DKK in Million2DKK
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
A-
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
15
Last Close Price
1,100 DKK
Average target price
1,179 DKK
Spread / Average Target
+7.21%
Consensus