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DFDS

DB:29K
Snowflake Description

Undervalued with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
29K
DB
DKK14B
Market Cap
  1. Home
  2. DE
  3. Transportation
Company description

DFDS A/S provides ferry shipping services and transport solutions in Europe and Turkey. The last earnings update was 61 days ago. More info.


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29K Share Price and Events
7 Day Returns
1.8%
DB:29K
4.1%
Europe Shipping
2.8%
DE Market
1 Year Returns
-22%
DB:29K
6.2%
Europe Shipping
3%
DE Market
29K Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
DFDS (29K) 1.8% -7.7% -7.8% -22% - -
Europe Shipping 4.1% -1.6% 9.8% 6.2% 6.6% -14.5%
DE Market 2.8% 0.2% 1.3% 3% 8% 23.6%
1 Year Return vs Industry and Market
  • 29K underperformed the Shipping industry which returned 6.2% over the past year.
  • 29K underperformed the Market in Germany which returned 3% over the past year.
Price Volatility
29K
Industry
5yr Volatility vs Market

Value

 Is DFDS undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of DFDS to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for DFDS.

DB:29K Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.1%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:29K
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Shipping Unlevered Beta Simply Wall St/ S&P Global 0.73
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.733 (1 + (1- 22%) (85.46%))
1.149
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.15
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.149 * 5.96%)
7.07%

Discounted Cash Flow Calculation for DB:29K using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for DFDS is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:29K DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (DKK, Millions) Source Present Value
Discounted (@ 7.07%)
2020 1,509.67 Analyst x3 1,409.93
2021 1,825.40 Analyst x3 1,592.18
2022 2,049.36 Est @ 12.27% 1,669.44
2023 2,226.77 Est @ 8.66% 1,694.12
2024 2,363.24 Est @ 6.13% 1,679.16
2025 2,466.23 Est @ 4.36% 1,636.58
2026 2,543.15 Est @ 3.12% 1,576.13
2027 2,600.42 Est @ 2.25% 1,505.15
2028 2,643.19 Est @ 1.64% 1,428.83
2029 2,675.42 Est @ 1.22% 1,350.72
Present value of next 10 years cash flows DKK15,542.00
DB:29K DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= DKK2,675.42 × (1 + 0.23%) ÷ (7.07% – 0.23%)
DKK39,170.85
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= DKK39,170.85 ÷ (1 + 7.07%)10
DKK19,775.81
DB:29K Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= DKK15,542.00 + DKK19,775.81
DKK35,317.81
Equity Value per Share
(DKK)
= Total value / Shares Outstanding
= DKK35,317.81 / 57.17
DKK617.79
DB:29K Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:29K represents 0.1247x of CPSE:DFDS
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.1247x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (DKK) x Listing Adjustment Factor
= DKK 617.79 x 0.1247
€77.04
Value per share (EUR) From above. €77.04
Current discount Discount to share price of €31.30
= -1 x (€31.30 - €77.04) / €77.04
59.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price DFDS is available for.
Intrinsic value
>50%
Share price is €31.3 vs Future cash flow value of €77.04
Current Discount Checks
For DFDS to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • DFDS's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • DFDS's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for DFDS's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are DFDS's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:29K PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in DKK DKK28.32
CPSE:DFDS Share Price ** CPSE (2019-10-11) in DKK DKK251
Europe Shipping Industry PE Ratio Median Figure of 26 Publicly-Listed Shipping Companies 11.43x
Germany Market PE Ratio Median Figure of 417 Publicly-Listed Companies 19.72x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of DFDS.

DB:29K PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= CPSE:DFDS Share Price ÷ EPS (both in DKK)

= 251 ÷ 28.32

8.86x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • DFDS is good value based on earnings compared to the Europe Shipping industry average.
  • DFDS is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does DFDS's expected growth come at a high price?
Raw Data
DB:29K PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.86x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
9.8%per year
Europe Shipping Industry PEG Ratio Median Figure of 14 Publicly-Listed Shipping Companies 0.79x
Germany Market PEG Ratio Median Figure of 265 Publicly-Listed Companies 1.39x

*Line of best fit is calculated by linear regression .

DB:29K PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 8.86x ÷ 9.8%

0.91x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • DFDS is good value based on expected growth next year.
Price based on value of assets
What value do investors place on DFDS's assets?
Raw Data
DB:29K PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in DKK DKK162.59
CPSE:DFDS Share Price * CPSE (2019-10-11) in DKK DKK251
Europe Shipping Industry PB Ratio Median Figure of 43 Publicly-Listed Shipping Companies 0.76x
Germany Market PB Ratio Median Figure of 598 Publicly-Listed Companies 1.74x
DB:29K PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= CPSE:DFDS Share Price ÷ Book Value per Share (both in DKK)

= 251 ÷ 162.59

1.54x

* Primary Listing of DFDS.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • DFDS is overvalued based on assets compared to the Europe Shipping industry average.
X
Value checks
We assess DFDS's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Shipping industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Shipping industry average (and greater than 0)? (1 check)
  5. DFDS has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is DFDS expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
9.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is DFDS expected to grow at an attractive rate?
  • DFDS's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • DFDS's earnings growth is positive but not above the Germany market average.
  • DFDS's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:29K Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:29K Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 9.8%
DB:29K Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 2.9%
Europe Shipping Industry Earnings Growth Rate Market Cap Weighted Average 23.5%
Europe Shipping Industry Revenue Growth Rate Market Cap Weighted Average 4.3%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.8%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:29K Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in DKK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:29K Future Estimates Data
Date (Data in DKK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 18,974 1
2022-12-31 18,422 1
2021-12-31 18,020 3,606 1,908 5
2020-12-31 17,513 3,356 1,719 5
2019-12-31 16,990 3,187 1,524 5
2019-10-13
DB:29K Past Financials Data
Date (Data in DKK Millions) Revenue Cash Flow Net Income *
2019-06-30 16,449 2,724 1,620
2019-03-31 16,102 2,582 1,593
2018-12-31 15,717 2,289 1,630
2018-09-30 15,259 2,650 1,460
2018-06-30 14,799 2,667 1,545
2018-03-31 14,593 2,551 1,623
2017-12-31 14,328 2,622 1,617
2017-09-30 14,181 2,573 1,594
2017-06-30 14,058 2,533 1,616
2017-03-31 13,923 2,560 1,555
2016-12-31 13,790 2,589 1,548
2016-09-30 13,763 2,569 1,481

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • DFDS's earnings are expected to grow by 9.8% yearly, however this is not considered high growth (20% yearly).
  • DFDS's revenue is expected to grow by 2.9% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:29K Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from DFDS Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:29K Future Estimates Data
Date (Data in DKK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 33.67 37.20 25.85 4.00
2020-12-31 29.95 32.00 24.85 4.00
2019-12-31 26.40 28.07 24.70 4.00
2019-10-13
DB:29K Past Financials Data
Date (Data in DKK Millions) EPS *
2019-06-30 28.32
2019-03-31 28.03
2018-12-31 28.99
2018-09-30 26.25
2018-06-30 28.01
2018-03-31 29.44
2017-12-31 29.08
2017-09-30 28.36
2017-06-30 28.42
2017-03-31 27.04
2016-12-31 26.63
2016-09-30 25.23

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • DFDS is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess DFDS's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
DFDS has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has DFDS performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare DFDS's growth in the last year to its industry (Shipping).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • DFDS has delivered over 20% year on year earnings growth in the past 5 years.
  • DFDS's 1-year earnings growth is less than its 5-year average (4.8% vs 21.9%)
  • DFDS's earnings growth has exceeded the Europe Shipping industry average in the past year (4.8% vs -1%).
Earnings and Revenue History
DFDS's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from DFDS Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:29K Past Revenue, Cash Flow and Net Income Data
Date (Data in DKK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 16,449.10 1,619.50 683.60
2019-03-31 16,102.10 1,593.30 670.90
2018-12-31 15,717.10 1,629.50 711.60
2018-09-30 15,259.20 1,459.90 712.30
2018-06-30 14,798.50 1,544.80 711.40
2018-03-31 14,592.70 1,622.60 720.20
2017-12-31 14,327.80 1,616.70 685.40
2017-09-30 14,181.40 1,593.90 678.50
2017-06-30 14,057.90 1,616.00 668.00
2017-03-31 13,922.50 1,554.80 695.70
2016-12-31 13,790.40 1,548.10 696.60
2016-09-30 13,763.40 1,481.00 722.60
2016-06-30 13,756.60 1,343.30 729.50
2016-03-31 13,635.70 1,181.90 702.50
2015-12-31 13,473.50 1,011.50 689.00
2015-09-30 13,207.99 819.09 643.16
2015-06-30 12,983.39 597.89 623.86
2015-03-31 12,856.99 530.69 624.06
2014-12-31 12,779.09 434.69 615.76
2014-09-30 12,714.89 499.93 621.64
2014-06-30 12,486.29 442.23 613.54
2014-03-31 12,232.19 326.33 618.24
2013-12-31 12,097.09 325.23 622.34
2013-09-30 11,988.43 248.53 600.15
2013-06-30 11,819.83 205.63 591.15
2013-03-31 11,739.03 130.23 555.65
2012-12-31 11,699.93 143.53 551.05

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • DFDS has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • DFDS used its assets more efficiently than the Europe Shipping industry average last year based on Return on Assets.
  • DFDS's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess DFDS's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Shipping industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
DFDS has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is DFDS's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up DFDS's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • DFDS's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • DFDS's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of DFDS's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.4x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from DFDS Company Filings, last reported 3 months ago.

DB:29K Past Debt and Equity Data
Date (Data in DKK Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 9,380.00 9,495.00 416.00
2019-03-31 9,041.70 9,725.50 506.40
2018-12-31 9,254.50 8,965.00 760.70
2018-09-30 8,583.20 9,267.10 1,585.30
2018-06-30 7,934.80 9,450.50 1,185.00
2018-03-31 6,399.20 3,209.80 591.10
2017-12-31 6,613.60 3,270.70 1,033.20
2017-09-30 6,466.40 3,407.80 829.50
2017-06-30 6,289.50 3,095.00 458.00
2017-03-31 6,065.40 3,171.50 279.00
2016-12-31 6,684.60 2,234.40 695.60
2016-09-30 6,539.70 3,212.40 764.00
2016-06-30 6,335.10 3,251.70 441.30
2016-03-31 6,056.80 3,666.60 943.30
2015-12-31 6,529.70 2,935.90 1,422.60
2015-09-30 6,432.60 2,926.30 1,136.50
2015-06-30 6,156.10 3,060.40 810.80
2015-03-31 5,937.90 3,144.60 425.60
2014-12-31 6,127.18 3,440.89 694.50
2014-09-30 6,357.60 3,662.60 1,150.60
2014-06-30 6,083.20 3,427.60 1,044.40
2014-03-31 6,010.00 3,135.40 758.80
2013-12-31 6,318.15 3,523.73 1,166.44
2013-09-30 6,304.80 3,540.10 1,191.80
2013-06-30 6,624.50 3,444.50 1,392.00
2013-03-31 6,644.10 3,861.20 1,969.60
2012-12-31 6,935.81 3,263.68 1,212.79
  • DFDS's level of debt (100.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (55.7% vs 100.8% today).
  • Debt is well covered by operating cash flow (28.8%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 9.6x coverage).
X
Financial health checks
We assess DFDS's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. DFDS has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is DFDS's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.59%
Current annual income from DFDS dividends. Estimated to be 2.89% next year.
If you bought €2,000 of DFDS shares you are expected to receive €32 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • DFDS's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.46%).
  • DFDS's dividend is below the markets top 25% of dividend payers in Germany (3.86%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:29K Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
Europe Shipping Industry Average Dividend Yield Market Cap Weighted Average of 23 Stocks 2.6%
Germany Market Average Dividend Yield Market Cap Weighted Average of 337 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.7%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:29K Future Dividends Estimate Data
Date (Data in DKK) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 9.36 5.00
2020-12-31 7.57 5.00
2019-12-31 4.23 4.00
2019-10-13
DB:29K Past Annualized Dividends Data
Date (Data in DKK) Dividend per share (annual) Avg. Yield (%)
2019-02-22 4.000 1.506
2019-02-07 4.000 1.367
2018-02-23 11.000 3.354
2018-02-08 11.000 3.133
2017-11-14 10.000 2.904
2017-08-17 10.000 2.766
2017-02-23 6.000 1.613
2017-02-07 6.000 1.605
2016-11-15 6.000 1.910
2016-08-18 6.000 1.789
2016-02-26 3.000 1.087
2015-02-25 3.600 1.857
2014-02-28 2.800 2.860
2013-02-28 2.800 3.683
2012-03-01 2.800 4.827
2011-03-17 1.600 2.057
2009-11-12 0.000 0.000
2009-08-13 0.000 0.000
2009-05-13 0.000 0.000
2009-03-09 0.000 0.000

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • DFDS has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but DFDS only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of DFDS's earnings are paid to the shareholders as a dividend.
  • Dividends paid are thoroughly covered by earnings (7.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.8x coverage).
X
Income/ dividend checks
We assess DFDS's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.7%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can DFDS afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. DFDS has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of DFDS's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Torben Carlsen
AGE 54
TENURE AS CEO 0.5 years
CEO Bio

Mr. Torben Carlsen, MBA has been Chief Executive Officer of DFDS A/S since April 2019 and serves as its Member of Executive Board and serves as its President since May 01, 2019. Mr. Carlsen served as the Chief Financial Officer, Executive Vice President at DFDS A/Sat since June 2009 until April 2019, and was its Chief Financial Officer since June 1, 2009. Mr. Carlsen served as the Chief Operating Officer of Gate Gourmet Switzerland GmbH. He served as an Executive Vice President and Chief Financial Officer of e-gate matrix, a division of Gate Gourmet Switzerland Gmbh. During his career, Mr. Carlsen has held managerial posts at SSP Group Limited (alternate name SAS Service Partner) from 1992 to 1994, Sairgroup AG (alternate name the Swiss Air group) from 1994 to 1996 in Switzerland, Gate Gourmet from 1996 to 1998 in Switzerland and Polaris Management A/S (alternate name Polaris Private Equity) from 1998 to 2000 in Denmark. From 2000 to 2006, Mr. Carlsen served as a Chief Financial Officer and President e-gatematrix, LLC. He was a partner of Odin Equity Partners. He serves as Chairman of Weiss A/S. He has been active on the board of a number of private equity owned companies. Mr. Carlsen served as a Director of Polaris Management A/S. He has extensive experience within financial analysis, investment execution and risk management from the private equity sector and from various corporate finance positions in Danish and international companies.

CEO Compensation
  • Insufficient data for Torben to compare compensation growth.
  • Insufficient data for Torben to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team

Torben Carlsen

TITLE
President CEO & Member of Executive Board
AGE
54
TENURE
0.5 yrs

Jesper Heilbuth

TITLE
Interim CFO
AGE
42
TENURE
0.2 yrs

Søren Nielsen

TITLE
Director of IR & Corporate Planning

Peder Pedersen

TITLE
Executive Vice President of Ferry Division
AGE
61

Eddie Green

TITLE
Head of Cold Chain Logistics Business
AGE
61

Niklas Andersson

TITLE
Executive VP & Head of Logistics Division
AGE
46

Helle Jensen

TITLE
Secretary

Björn Petrusson

TITLE
Sales Director of Freight
AGE
55
Board of Directors Tenure

Average tenure and age of the DFDS board of directors in years:

2.6
Average Tenure
55
Average Age
  • The average tenure for the DFDS board of directors is less than 3 years, this suggests a new board.
Board of Directors

Claus Hemmingsen

TITLE
Chairman
AGE
57
TENURE
2.6 yrs

Klaus Nyborg

TITLE
Deputy Chairman
AGE
56
TENURE
1.6 yrs

Anders Götzsche

TITLE
Director
AGE
52
TENURE
1.6 yrs

Jill Melby

TITLE
Director
AGE
61
TENURE
18.5 yrs

Jens Knudsen

TITLE
Staff Representative Director
AGE
61
TENURE
8.5 yrs

Lars Skjold-Hansen

TITLE
Staff Representative Director
AGE
54
TENURE
6.6 yrs

Marianne Steensen

TITLE
Director
AGE
45
TENURE
2.6 yrs

Jesper Nielsen

TITLE
Director
AGE
44
TENURE
1.6 yrs

Dirk Reich

TITLE
Director
AGE
56
TENURE
0.3 yrs

Tony Smidt

TITLE
Alternate Director
AGE
43
TENURE
5.6 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess DFDS's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. DFDS has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

DFDS A/S provides ferry shipping services and transport solutions in Europe and Turkey. The company operates through Ferry and Logistics divisions. The Ferry division operates ferry routes in and around Europe transporting freight units, primarily trailers and passengers, as well as offers port terminal services. This division provides ferry services primarily to forwarders and hauliers, as well as manufacturers of heavy industrial goods, such as automotive, forest and paper products, metals, and chemicals; and operates passenger ships for passengers with own cars, mini cruises, business conferences, and tour operators. The Logistics division provides full and part load transportation, warehousing, and logistics solutions to manufacturers of heavy industrial goods, consumables, and retailers. This division also provides railway transport services. The company operates 35 freight ferries, 16 freight and passenger ferries, 4 cruise ferries, and 15 container and side port ships. The company was founded in 1866 and is headquartered in Copenhagen, Denmark.

Details
Name: DFDS A/S
29K
Exchange: DB
Founded: 1866
DKK1,921,189,762
57,168,325
Website: http://www.dfds.com
Address: DFDS A/S
Sundkrogsgade 11,
Copenhagen,
Capital Region of Denmark, 2100,
Denmark
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
CPSE DFDS Ordinary Shares OMX Nordic Exchange Copenhagen DK DKK 02. Jan 1992
OTCPK DFDD.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
DB 29K Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
LSE 0RB3 Ordinary Shares London Stock Exchange GB DKK 02. Jan 1992
BATS-CHIXE DFDSC Ordinary Shares BATS 'Chi-X Europe' GB DKK 02. Jan 1992
Number of employees
Current staff
Staff numbers
8,000
DFDS employees.
Industry
Marine
Transportation
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/10/13 23:42
End of day share price update: 2019/10/11 00:00
Last estimates confirmation: 2019/09/11
Last earnings filing: 2019/08/13
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.