Valuation Norden

Stocks

Market Closed - Nasdaq Copenhagen 11:20:00 2026-08-21 EDT			5-day change	1st Jan Change
367.00 ^DKK	+4.86%		+9.16%	+45.63%

08-20	Clarksons Platou Securities upgrades D/S Norden to buy (neutral), target price DKK 400 - BN	FW
08-13	D/s Norden: Tankers strong, sequential Dry Operator improvement

Data adjusted to current consolidation scope

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Market Cap ¹	932.5	2,029	1,504	885.8	1,138	1,583	-	-
Change	-	117.57%	-25.86%	-41.11%	28.43%	39.15%	-	-
Enterprise Value (EV) ¹	932.5	2,029	1,504	885.8	1,519	1,560	1,645	1,565
Change	-	117.57%	-25.86%	-41.11%	71.52%	2.68%	5.46%	-4.88%
P/E	4.68x	2.85x	3.87x	5.58x	-	16.9x	44.3x	24.6x
PBR	-	-	-	-	0.91x	1.33x	1.43x	1.34x
PEG	-	0x	-0.1x	-0.1x	-	-	-0.7x	0.3x
Capitalization / Revenue	-	-	-	0.22x	0.36x	0.66x	0.6x	0.68x
EV / Revenue	-	-	-	0.22x	0.49x	0.65x	0.62x	0.67x
EV / EBITDA	-	1.75x	-	2.05x	3.34x	4.14x	4.11x	3.65x
EV / EBIT	-	-	-	-	9.59x	20.9x	19.6x	14.1x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Dividend per Share ²	-	-	-	-	1.264	1.256	1.256	1.256
Rate of return	-	-	-	-	3.18%	2.19%	2.19%	2.19%
EPS ²	5.42	21.1	12.3	5.3	-	3.385	1.295	2.334
Distribution rate	-	-	-	-	-	37.1%	97%	53.8%
Net sales ¹	-	-	-	4,040	3,126	2,415	2,638	2,321
EBITDA ¹	-	1,159	-	432.2	454.3	376.6	399.8	428.7
EBIT ¹	-	-	-	-	158.4	74.67	83.92	111.4
Net income	204.5	-	400.1	162.7	-	-	36.3	65.43
Net Debt ¹	-	-	-	-	381.7	-22.94	62.24	-18.03
Reference price ²	25.34	60.06	47.60	29.56	39.69	57.33	57.33	57.33
Nbr of stocks (in thousands)	36,796	33,780	31,596	29,967	28,663	27,615	-	-
Announcement Date	3/3/22	2/10/23	2/8/24	2/6/25	2/4/26	-	-	-

¹USD in Million²USD

Estimates

Add to a list 0 selected To use this feature you must be a member Log in Sign up	P/E (Y)	EV / Sales (Y)	EV / EBITDA (Y)	Dividend Yield (Y)	Capi.($)
NORDEN	-	0.65x	4.14x	2.19%	1.58B
EVERGREEN MARINE CORPORATION (TAIWAN) LTD.	6.47x	1.23x	3.52x	7.2%	17.1B
WALLENIUS WILHELMSEN ASA	11.13x	1.78x	6.01x	7.44%	7.52B
GOLAR LNG LIMITED	44.47x	17.91x	24.39x	1.92%	5.31B
COSCO SHIPPING SPECIALIZED CARRIERS CO.,LTD.	12.79x	-	-	-	4.83B
HÖEGH AUTOLINERS ASA	9.71x	2.78x	7.98x	8.98%	3.56B
STAR BULK CARRIERS CORP.	7.08x	3.4x	5.45x	12.45%	3.41B
ZIM INTEGRATED SHIPPING SERVICES LTD.	12.29x	0.81x	2.39x	4.11%	3.4B
DANAOS CORPORATION	4.96x	2.5x	3.35x	-	2.73B
Average	13.61x	3.88x	7.15x	6.33%	5.49B
Weighted average by Cap.	12.67x	3.62x	6.85x	6.71%