(DEMANT) Demant - CO
Sector: Healthcare | Industry: Medical Devices | Exchange: CO (Denmark) | Market Cap: 52.893m DKK | Total Return: -11.6% in 12m
Avg Turnover: 75.6M
EPS Trend: 84.0%
Qual. Beats: 0
Rev. Trend: 95.0%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
Confidence
Demant A/S is a Denmark-based hearing healthcare company that develops, manufactures, and wholesales hearing aids and diagnostic equipment. The company operates an integrated business model, managing both the production of hardware and the retail distribution through a global network of hearing care clinics.
The company serves audiologists and ENT specialists by providing balance assessment solutions and diagnostic instruments. As a major player in the hearing healthcare sector, Demant operates in a consolidated global market where a few large manufacturers control the majority of research, development, and distribution channels.
Founded in 1904 and formerly known as William Demant Holding A/S, the firm maintains a significant international presence across Europe, North America, and Asia. The hearing aid industry is characterized by high barriers to entry due to specialized medical technology requirements and extensive regulatory compliance standards for medical devices.
- Hearing aid market share gains driven by premium product launches
- Hearing Care clinic organic growth and acquisition pace impact margins
- OTC hearing aid competition pressures low-end segment pricing
- Operating leverage improves as Diagnostics revenue scales globally
| Net Income: 1.54b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.08 > 0.02 and ΔFCF/TA -1.29 > 1.0 |
| NWC/Revenue: 10.75% < 20% (prev 17.06%; Δ -6.32% < -1%) |
| CFO/TA 0.10 > 3% & CFO 3.95b > Net Income 1.54b |
| Net Debt (25.6b) to EBITDA (5.14b): 4.99 < 3 |
| Current Ratio: 1.33 > 1.5 & < 3 |
| Outstanding Shares: last quarter (210.7m) vs 12m ago -3.79% < -2% |
| Gross Margin: 69.77% > 18% (prev 76.23%; Δ -6.46% > 0.5%) |
| Asset Turnover: 64.48% > 50% (prev 69.09%; Δ -4.62% > 0%) |
| Interest Coverage Ratio: 6.54 > 6 (EBIT TTM 3.62b / Interest Expense TTM 553.0m) |
| A: 0.06 (Total Current Assets 9.90b - Total Current Liabilities 7.42b) / Total Assets 39.1b |
| B: 0.27 (Retained Earnings 10.4b / Total Assets 39.1b) |
| C: 0.10 (EBIT TTM 3.62b / Avg Total Assets 35.8b) |
| D: 0.34 (Book Value of Equity 9.84b / Total Liabilities 29.2b) |
| Altman-Z'' = 2.32 = BBB |
| DSRI: 1.04 (Receivables 4.66b/4.37b, Revenue 23.1b/22.4b) |
| GMI: 1.09 (GM 76.23% / 69.77%) |
| AQI: 1.10 (AQ_t 0.58 / AQ_t-1 0.52) |
| SGI: 1.03 (Revenue 23.1b / 22.4b) |
| TATA: -0.06 (NI 1.54b - CFO 3.95b) / TA 39.1b) |
| Beneish M = -2.84 (Cap -4..+1) = A |
As of June 20, 2026, the stock is trading at DKK 247.80 with a total of 680,853 shares traded.
Over the past week, the price has changed by -3.18%,
over one month by +5.19%,
over three months by +34.03% and
over the past year by -11.56%.
Demant has no consensus analysts rating.
P/E Trailing = 22.3729
P/E Forward = 19.7628
P/S = 2.3026
P/B = 5.3743
P/EG = 0.816
Revenue TTM = 23.1b DKK
EBIT TTM = 3.62b DKK
EBITDA TTM = 5.14b DKK
Long Term Debt = 16.4b DKK (from longTermDebt, last quarter)
Short Term Debt = 2.01b DKK (from shortTermDebt, last quarter)
Debt = 26.9b DKK (from shortLongTermDebtTotal, last quarter) + Leases 3.38b
Net Debt = 25.6b DKK (calculated: Debt 26.9b - CCE 1.33b)
Enterprise Value = 78.5b DKK (52.9b + Debt 26.9b - CCE 1.33b)
Interest Coverage Ratio = 6.54 (Ebit TTM 3.62b / Interest Expense TTM 553.0m)
EV/FCF = 24.34x (Enterprise Value 78.5b / FCF TTM 3.23b)
FCF Yield = 4.11% (FCF TTM 3.23b / Enterprise Value 78.5b)
FCF Margin = 13.99% (FCF TTM 3.23b / Revenue TTM 23.1b)
Net Margin = 6.70% (Net Income TTM 1.54b / Revenue TTM 23.1b)
Gross Margin = 69.77% ((Revenue TTM 23.1b - Cost of Revenue TTM 6.97b) / Revenue TTM)
Gross Margin QoQ = 63.88% (prev 75.95%)
Tobins Q-Ratio = 2.01 (Enterprise Value 78.5b / Total Assets 39.1b)
Interest Expense / Debt = 2.05% (Interest Expense 553.0m / Debt 26.9b)
Taxrate = 23.67% (734.0m / 3.10b)
NOPAT = 2.76b (EBIT 3.62b * (1 - 23.67%))
Current Ratio = 1.33 (Total Current Assets 9.90b / Total Current Liabilities 7.42b)
Debt / Equity = 2.74 (Debt 26.9b / totalStockholderEquity, last quarter 9.84b)
Debt / EBITDA = 4.99 (Net Debt 25.6b / EBITDA 5.14b)
Debt / FCF = 7.94 (Net Debt 25.6b / FCF TTM 3.23b)
Total Stockholder Equity = 9.56b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.32% (Net Income 1.54b / Total Assets 39.1b)
RoE = 16.16% (Net Income TTM 1.54b / Total Stockholder Equity 9.56b)
RoCE = 13.93% (EBIT 3.62b / Capital Employed (Equity 9.56b + L.T.Debt 16.4b))
RoIC = 8.50% (NOPAT 2.76b / Invested Capital 32.5b)
WACC = 5.90% (E(52.9b)/V(79.8b) * Re(8.10%) + D(26.9b)/V(79.8b) * Rd(2.05%) * (1-Tc(0.24)))
Discount Rate = 8.10% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -93.21 | Cagr: -2.70%
[DCF] Terminal Value 75.97% ; FCFF base≈3.18b ; Y1≈3.30b ; Y5≈3.73b
[DCF] Fair Price = 152.0 (EV 57.7b - Net Debt 25.6b = Equity 32.1b / Shares 210.9m; r=8.35% [WACC [floored]]; 5y FCF grow 4.10% → 2.50% )
EPS Correlation: 84.02 | EPS CAGR: 8.55% | SUE: 0.0 | # QB: 0
Revenue Correlation: 94.98 | Revenue CAGR: 16.53% | SUE: 0.06 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.00 | Chg30d=N/A | Revisions=N/A | Analysts=0
EPS next Quarter (2026-09-30): EPS=0.00 | Chg30d=N/A | Revisions=N/A | Analysts=0
EPS current Year (2026-12-31): EPS=12.88 | Chg30d=+1.23% | Revisions=+65% | GrowthEPS=+15.0% | GrowthRev=+12.3%
EPS next Year (2027-12-31): EPS=15.04 | Chg30d=+0.92% | Revisions=+65% | GrowthEPS=+16.8% | GrowthRev=+6.6%
[Analyst] Revisions Ratio: +65%