(DNORD) Dampskibsselskabet Norden AS - CO
Sector: Industrials | Industry: Marine Shipping | Exchange: CO (Denmark) | Market Cap: 8.827m DKK | Total Return: 39.9% in 12m
Avg Turnover: 19.9M
EPS Trend: -1.5%
Rev. Trend: -78.1%
Warnings
Interest Coverage Ratio -19.0 is critical
Below Avwap Earnings
Tailwinds
No distinct edge detected
Dampskibsselskabet Norden A/S is a Danish shipping firm specializing in the global transport of dry and liquid bulk cargo. The company utilizes a flexible business model that combines owned assets with long-term and short-term chartered vessels, allowing it to adjust fleet capacity based on market demand and freight rate volatility.
The companys operations are divided between dry cargo vessels, which transport commodities like ores and grain, and tankers focused on refined petroleum products. In the marine transportation sector, profitability is heavily influenced by the Baltic Dry Index for bulk goods and global refinery margins for the tanker segment.
Beyond standard freight, the firm provides logistics and project cargo services for specialized industrial equipment, such as wind turbine components. Founded in 1871, Norden maintains a diversified fleet structure through its tanker pool and external tonnage, mitigating the high capital intensity typically associated with ship ownership.
- Asset-light operator model margins depend on freight rate volatility
- Product tanker spot rates drive earnings during energy supply shifts
- Dry cargo demand fluctuates with Chinese industrial and agricultural imports
- Capital allocation prioritizes high dividend payouts and share buyback programs
| Net Income: 103.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.10 > 0.02 and ΔFCF/TA -16.82 > 1.0 |
| NWC/Revenue: 15.35% < 20% (prev 7.96%; Δ 7.39% < -1%) |
| CFO/TA 0.16 > 3% & CFO 395.0m > Net Income 103.3m |
| Net Debt (710.0m) to EBITDA (306.4m): 2.32 < 3 |
| Current Ratio: 1.70 > 1.5 & < 3 |
| Outstanding Shares: last quarter (28.3m) vs 12m ago -4.34% < -2% |
| Gross Margin: 7.80% > 18% (prev 4.15%; Δ 3.65% > 0.5%) |
| Asset Turnover: 138.5% > 50% (prev 180.3%; Δ -41.77% > 0%) |
| Interest Coverage Ratio: -19.02 > 6 (EBIT TTM -761.4m / Interest Expense TTM 40.0m) |
| A: 0.20 (Total Current Assets 1.21b - Total Current Liabilities 710.9m) / Total Assets 2.51b |
| B: 0.50 (Retained Earnings 1.27b / Total Assets 2.51b) |
| C: -0.33 (EBIT TTM -761.4m / Avg Total Assets 2.34b) |
| D: 1.08 (Book Value of Equity 1.30b / Total Liabilities 1.20b) |
| Altman-Z'' = 1.90 = BBB |
| DSRI: 0.65 (Receivables 217.8m/404.7m, Revenue 3.24b/3.92b) |
| GMI: 0.53 (GM 4.15% / 7.80%) |
| AQI: 0.77 (AQ_t 0.05 / AQ_t-1 0.06) |
| SGI: 0.83 (Revenue 3.24b / 3.92b) |
| TATA: -0.12 (NI 103.3m - CFO 395.0m) / TA 2.51b) |
| Beneish M = -4.01 (Cap -4..+1) = AAA |
As of June 20, 2026, the stock is trading at DKK 300.20 with a total of 68,000 shares traded.
Over the past week, the price has changed by -9.23%,
over one month by -9.67%,
over three months by +3.17% and
over the past year by +39.91%.
Dampskibsselskabet Norden AS has no consensus analysts rating.
Market Cap USD = 1.37b (8.83b DKK * 0.1551 DKK.USD)
P/E Trailing = 14.45
P/E Forward = 5.102
P/S = 2.8002
P/B = 1.0454
P/EG = -77.3
Revenue TTM = 3.24b USD
EBIT TTM = -761.4m USD
EBITDA TTM = 306.4m USD
Long Term Debt = 234.9m USD (from longTermDebt, last quarter)
Short Term Debt = 502.1m USD (from shortTermDebt, last quarter)
Debt = 1.24b USD (from shortLongTermDebtTotal, last quarter) + Leases 471.1m
Net Debt = 710.0m USD (calculated: Debt 1.24b - CCE 534.8m)
Enterprise Value = 2.08b USD (1.37b + Debt 1.24b - CCE 534.8m)
Interest Coverage Ratio = -19.02 (Ebit TTM -761.4m / Interest Expense TTM 40.0m)
EV/FCF = -8.61x (Enterprise Value 2.08b / FCF TTM -241.5m)
FCF Yield = -11.62% (FCF TTM -241.5m / Enterprise Value 2.08b)
FCF Margin = -7.44% (FCF TTM -241.5m / Revenue TTM 3.24b)
Net Margin = 3.19% (Net Income TTM 103.3m / Revenue TTM 3.24b)
Gross Margin = 7.80% ((Revenue TTM 3.24b - Cost of Revenue TTM 2.99b) / Revenue TTM)
Gross Margin QoQ = 3.07% (prev 16.59%)
Tobins Q-Ratio = 0.83 (Enterprise Value 2.08b / Total Assets 2.51b)
Interest Expense / Debt = 3.22% (Interest Expense 40.0m / Debt 1.24b)
Taxrate = 15.96% (18.7m / 117.1m)
NOPAT = -639.9m (EBIT -761.4m * (1 - 15.96%)) [loss with tax shield]
Current Ratio = 1.70 (Total Current Assets 1.21b / Total Current Liabilities 710.9m)
Debt / Equity = 0.96 (Debt 1.24b / totalStockholderEquity, last quarter 1.30b)
Debt / EBITDA = 2.32 (Net Debt 710.0m / EBITDA 306.4m)
Debt / FCF = -2.94 (negative FCF - burning cash) (Net Debt 710.0m / FCF TTM -241.5m)
Total Stockholder Equity = 1.29b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.41% (Net Income 103.3m / Total Assets 2.51b)
RoE = 7.98% (Net Income TTM 103.3m / Total Stockholder Equity 1.29b)
RoCE = -49.77% (EBIT -761.4m / Capital Employed (Equity 1.29b + L.T.Debt 234.9m))
RoIC = -29.95% (negative operating profit) (NOPAT -639.9m / Invested Capital 2.14b)
WACC = 4.88% (E(1.37b)/V(2.61b) * Re(6.86%) + D(1.24b)/V(2.61b) * Rd(3.22%) * (1-Tc(0.16)))
Discount Rate = 6.86% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -58.43 | Cagr: -8.50%
[DCF] Fair Price = unknown (Cash Flow -241.5m)
EPS Correlation: -1.49 | EPS CAGR: -1.25% | SUE: N/A | # QB: 0
Revenue Correlation: -78.10 | Revenue CAGR: -9.09% | SUE: N/A | # QB: 0
EPS current Year (2026-12-31): EPS=1.11 | Chg30d=+41.22% | Revisions=N/A | GrowthEPS=-73.0% | GrowthRev=-22.7%
EPS next Year (2027-12-31): EPS=1.29 | Chg30d=-16.30% | Revisions=N/A | GrowthEPS=+17.1% | GrowthRev=+9.2%