DSV A/S
DSV A/S offers freight forwarding and logistics services in Europe, the Middle East, Africa, North America, South America, Asia, Australia, and the Pacific. It operates through three segments: Air & Sea, Road, and Solutions. The company provides air freight, charter, and sea-air freight services, a…
DSV A/S offers freight forwarding and logistics services in Europe, the Middle East, Africa, North America, South America, Asia, Australia, and the Pacific. It operates through three segments: Air & Sea, Road, and Solutions. The company provides air freight, charter, and sea-air freight services, as well as unit load devices; sea freight services, including less-than-container load services, sea freight services, break bulk, sea containers, and DSV LCL sailing schedule services; and warehousing, e-commerce fulfilment, supply chain, contract logistics, and logistics solutions. It also offers road freight services, such as full load, part load, and groupage; conventional freight forwarding services and tailored project cargo solutions; and freight management, customs clearance, decarbonising logistics, order management, insurance, and e-commerce solutions. The company serves the automotive, technology, healthcare, energy, industrial, consumer, defense, aerospace, and chemical industries. The company was formerly known as DSV Panalpina A/S and changed its name to DSV A/S in September 2021. DSV A/S was incorporated in 1976 and is based in Hedehusene, Denmark.Looks overvalued
Why: Free cash flow is positive and in line with earnings, and the dividend is small, so a cash-flow DCF fits best.
Details and the full model are below.
Market price above modeled range
Showing the FCFF (steady state) you selected on the company card, using 2.78% growth, 2.7% terminal growth and 10% discount. The range varies these assumptions slightly; it is illustrative, not investment advice. Low confidence: the modelled value is far from the market price, which usually means the model does not capture this company well (for example expected growth well above its history).
Assumptions: growth 2.78%, discount rate 10%, terminal growth 2.70% (sector defaults). See a worked example.
Blended growth assumption: 2.8% (sector default 6.2%, own revenue history 1.6%, analyst revenue consensus 1.6%).
5-year outlook: relative outlook of about -1.5% a year (High confidence), anchored to a 7% market return and adjusted for how this company ranks against others. A ranking aid, not a prediction. See the full forecast.
Analyst consensus expects revenue growth of 1.7% a year; the growth assumption used is 2.8%.
Adjust assumptions
Show the recommended model instead
Why this model: Free cash flow is positive and in line with earnings, and the dividend is small, so a cash-flow DCF fits best.
Compare models- Recommended: Free-cash-flow DCF — DKK 193.79 (-86.4%)
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EPS-based Gordon proxy
— DKK 461.38 (-67.6%)
Not used: Treats all earnings as if paid out and ignores the cash kept for reinvestment, so it overstates value for companies that retain most profit.
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DCF (trailing free cash flow)
— not applicable
Not used: Cannot be computed: free cash flow is zero or negative.
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FCFF (steady state)
— DKK 191.97 (-86.5%)
Not used: Assumes only the long-run terminal growth rate from today, so it ignores the near-term growth expected.
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EV/EBITDA (12x)
— DKK 1117.42 (-21.5%)
Not used: Used only when free cash flow is far below earnings even after averaging three years; a fixed 12x multiple also ignores sector differences.
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Fade DCF (10-year growth fade)
— not applicable
Not used: Cannot be computed: free cash flow is zero or negative.
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EV/Sales (Rule of 40)
— DKK 2787.31 (+95.7%)
Not used: Used only for technology and communication companies whose cash-flow value is far below the price.
| Bear DKK 73.40 | -1840.0% |
| Base DKK 191.97 | -641.8% |
| Bull DKK 400.04 | -256.0% |
Margin = (value − price) / value, so it is measured against the value and reads lower than the upside to value, which is measured against the price. Positive means the price is below that case.
Track record: see the methodology page for how this model has performed historically, including its limits. Treat it as a screen, not a forecast.
Price history and fair value
No chartable saved daily price history is available for this range. The chart uses stored EODHD prices only and will appear after history is saved.
More detail: quality, peers, price history, dividends and financials
Quality score: 70 / 100
Five equal checks on reported history: profitability, cash generation, revenue growth, balance sheet and margins. It describes business quality, not whether the price is attractive.
| Profitability | 5 of 5 years profitable | 20 / 20 |
| Cash generation | free cash flow positive in 5 of 5 years | 20 / 20 |
| Growth | revenue +6.2% a year | 20 / 20 |
| Balance sheet | net debt 2.8x EBITDA | 10 / 20 |
| Margins | EBITDA margin 10% | 0 / 20 |
Peers in Industrials
Same-sector companies with a valuation, most undervalued first. Compare the margin of safety, yield and quality score side by side.
| Company | Price | Margin of safety | P/E | P/B | Yield | Quality |
|---|---|---|---|---|---|---|
| DSV.CO (this company) | DKK 1424.00 | -634.8% | 43.4 | 2.6 | 0.5% | 70 |
| EZJ.L easyJet plc | GBP 6.84 | 74.5% | 10.6 | 1.5 | 1.7% | 78 |
| WAWI.OL Wallenius Wilhelmsen ASA | NOK 160.60 | 64.7% | 7.1 | 2.2 | 0.3% | 100 |
| IAG.L International Consolidated Airlines Group S.A. | GBP 4.31 | 59.5% | 7.9 | 3.4 | 1.8% | 92 |
| TPK.L Travis Perkins plc | GBP 6.45 | 55.4% | – | 0.8 | 2.1% | 46 |
| DFDS.CO DFDS A/S | DKK 153.20 | 47.3% | – | 0.6 | – | 64 |
| SRP.L Serco Group plc | GBP 2.79 | 45.8% | 19.8 | 3.3 | 1.5% | 82 |
| DG.PA VINCI SA | EUR 110.60 | 42.8% | 12.8 | 2.0 | 4.2% | 90 |
| HAFNI.OL Hafnia Limited | NOK 88.95 | 40.9% | 7.2 | 1.8 | 1.2% | 100 |
| Peer median | 9.2 | 1.9 | ||||
Dividends
Paid in the last 12 months: DKK 7.00 per share · yield 0.49% at the current price.
| Year | Dividends per share |
|---|---|
| 2026 (so far) | 7.000 |
| 2025 | 7.000 |
| 2024 | 7.000 |
| 2023 | 6.500 |
| 2022 | 5.500 |
| 2021 | 4.000 |
Trailing 12-month financials
TTM through 30 Sep 2026 · quarterly EODHD data · data downloaded 06 Nov 2026 16:27
| Revenue | DKK 299,491,000,000 |
|---|---|
| EBITDA | DKK 28,984,000,000 |
| EBIT | DKK 18,544,000,000 |
| Net income | DKK 7,824,000,000 |
| Free cash flow | DKK 9,029,000,000 |
| Capital expenditures | DKK 2,421,000,000 |
| Debt | DKK 94,978,000,000 |
| Cash | DKK 13,753,000,000 |
| Working capital | DKK 1,690,000,000 |
| Shares outstanding | 238,571,000 |