Company Valuation: Orsted

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 350,930 265,253 157,272 136,239 161,630 179,136 - -
Change - -24.41% -40.71% -13.37% 18.64% 10.83% - -
Enterprise Value (EV) 1 375,210 295,824 204,651 194,266 180,608 211,852 221,762 203,541
Change - -21.16% -30.82% -5.07% -7.03% 17.3% 4.68% -8.22%
P/E 34.4x 18.2x -7.47x -147x 64.4x 17.5x 14.7x 12.7x
PBR 4.28x 2.9x 2.07x 2.19x 0.91x 1.27x 1.2x 1.13x
PEG - 0.4x 0x 1.5x -0x 0x 0.8x 0.8x
Capitalization / Revenue 4.52x 2.01x 1.98x 1.92x 2.21x 2.17x 2.06x 1.9x
EV / Revenue 4.83x 2.24x 2.58x 2.73x 2.47x 2.56x 2.55x 2.16x
EV / EBITDA 15.4x 9.23x 10.9x 6.08x 8.05x 6.98x 6.81x 5.49x
EV / EBIT 23.2x 15x -11.5x 31.5x 21x 11.6x 11x 8.97x
EV / FCF -16.7x -14x 13.1x -8x -5.82x -6.65x -13.9x 6.4x
FCF Yield -5.98% -7.13% 7.62% -12.5% -17.2% -15% -7.17% 15.6%
Dividend per Share 2 12.5 13.5 - - - 2.622 3.25 3.496
Rate of return 1.5% 2.14% - - - 1.93% 2.4% 2.58%
EPS 2 24.3 34.6 -50.1 -2.2 1.9 7.757 9.196 10.67
Distribution rate 51.4% 39% - - - 33.8% 35.3% 32.8%
Net sales 1 77,673 132,277 79,255 71,034 73,244 82,598 87,015 94,236
EBITDA 1 24,296 32,057 18,717 31,959 22,448 30,332 32,580 37,051
EBIT 1 16,195 19,774 -17,853 6,171 8,620 18,188 20,164 22,696
Net income 1 10,962 14,549 -21,059 -923 1,727 10,523 12,449 14,157
Net Debt 1 24,280 30,571 47,379 58,027 18,978 32,716 42,627 24,406
Reference price 2 835.20 631.30 374.30 324.20 122.35 135.60 135.60 135.60
Nbr of stocks (in thousands) 420,175 420,170 420,175 420,230 1,321,047 1,321,059 - -
Announcement Date 2/2/22 2/1/23 2/7/24 2/6/25 2/6/26 - - -
1DKK in Million2DKK
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
30.94x5.21x37.94x0.21% 253B
20.53x8.99x15.36x2.98% 172B
19.63x4.05x11.17x3.64% 150B
23.13x3.53x14.34x0.58% 104B
12.26x1.82x6.46x5.78% 103B
19.76x5.81x12.73x3.44% 102B
17.85x5.54x11.17x3.62% 93.9B
19.37x5.14x12.42x3.09% 67.87B
18.16x6.17x12.96x4.1% 57.26B
Average 20.18x 5.14x 14.95x 3.05% 122.59B
Weighted average by Cap. 21.78x 5.30x 18.15x 2.63%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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