Delayed
LIQUIDNET SYSTEMS
|
5-day change
|
1st Jan Change
|
- DKK
|
-.--%
|
|
-.--%
|
-.--%
|
Fiscal Period: December |
2019
|
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
2026
|
---|
Capitalization
1 |
175,571
|
230,701
|
357,685
|
238,147
|
248,050
|
217,645
|
-
|
-
|
Enterprise Value (EV)
1 |
193,926
|
247,671
|
386,139
|
268,017
|
282,633
|
250,844
|
251,086
|
252,520
|
P/E ratio
|
41.7
x
|
55.4
x
|
31.7
x
|
14.4
x
|
20.8
x
|
19.6
x
|
16.3
x
|
14.3
x
|
Yield
|
0.33%
|
0.39%
|
0.36%
|
0.59%
|
0.59%
|
0.64%
|
0.7%
|
0.74%
|
Capitalization / Revenue
|
1.85
x
|
1.99
x
|
1.96
x
|
1.01
x
|
1.65
x
|
1.43
x
|
1.37
x
|
1.3
x
|
EV / Revenue
|
2.05
x
|
2.14
x
|
2.12
x
|
1.14
x
|
1.87
x
|
1.65
x
|
1.58
x
|
1.51
x
|
EV / EBITDA
|
18.8
x
|
18.3
x
|
18.9
x
|
8.85
x
|
12.3
x
|
11.5
x
|
10.8
x
|
10.3
x
|
EV / FCF
|
23.5
x
|
25.5
x
|
30.6
x
|
10.4
x
|
19.6
x
|
19
x
|
17.9
x
|
17
x
|
FCF Yield
|
4.25%
|
3.92%
|
3.27%
|
9.66%
|
5.1%
|
5.26%
|
5.58%
|
5.89%
|
Price to Book
|
3.55
x
|
4.87
x
|
4.83
x
|
3.33
x
|
3.61
x
|
3.03
x
|
2.82
x
|
2.63
x
|
Nbr of stocks (in thousands)
|
228,667
|
226,178
|
234,164
|
217,188
|
209,237
|
208,372
|
-
|
-
|
Reference price
2 |
767.8
|
1,020
|
1,528
|
1,096
|
1,186
|
1,044
|
1,044
|
1,044
|
Announcement Date
|
07/02/20
|
10/02/21
|
09/02/22
|
02/02/23
|
01/02/24
|
-
|
-
|
-
|
Fiscal Period: December |
2019
|
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
2026
|
---|
Net sales
1 |
94,701
|
115,932
|
182,306
|
235,665
|
150,785
|
151,903
|
158,883
|
167,092
|
EBITDA
1 |
10,292
|
13,559
|
20,417
|
30,275
|
22,997
|
21,728
|
23,280
|
24,519
|
EBIT
1 |
6,654
|
9,520
|
16,223
|
25,204
|
17,723
|
16,296
|
17,446
|
18,402
|
Operating Margin
|
7.03%
|
8.21%
|
8.9%
|
10.69%
|
11.75%
|
10.73%
|
10.98%
|
11.01%
|
Earnings before Tax (EBT)
1 |
4,996
|
5,627
|
14,904
|
23,221
|
16,490
|
14,462
|
16,389
|
17,412
|
Net income
1 |
3,700
|
4,250
|
11,205
|
17,568
|
12,315
|
10,978
|
12,833
|
13,304
|
Net margin
|
3.91%
|
3.67%
|
6.15%
|
7.45%
|
8.17%
|
7.23%
|
8.08%
|
7.96%
|
EPS
2 |
18.40
|
18.40
|
48.20
|
76.20
|
57.10
|
53.20
|
64.06
|
73.10
|
Free Cash Flow
1 |
8,250
|
9,720
|
12,622
|
25,880
|
14,428
|
13,192
|
14,012
|
14,867
|
FCF margin
|
8.71%
|
8.38%
|
6.92%
|
10.98%
|
9.57%
|
8.68%
|
8.82%
|
8.9%
|
FCF Conversion (EBITDA)
|
80.16%
|
71.69%
|
61.82%
|
85.48%
|
62.74%
|
60.71%
|
60.19%
|
60.64%
|
FCF Conversion (Net income)
|
222.97%
|
228.71%
|
112.65%
|
147.31%
|
117.16%
|
120.17%
|
109.19%
|
111.75%
|
Dividend per Share
2 |
2.500
|
4.000
|
5.500
|
6.500
|
7.000
|
6.687
|
7.355
|
7.683
|
Announcement Date
|
07/02/20
|
10/02/21
|
09/02/22
|
02/02/23
|
01/02/24
|
-
|
-
|
-
|
Fiscal Period: December |
2021 Q4
|
2022 Q1
|
2022 Q2
|
2022 Q3
|
2022 Q4
|
2023 Q1
|
2023 Q2
|
2023 Q3
|
2023 Q4
|
2024 Q1
|
2024 Q2
|
2024 Q3
|
2024 Q4
|
2025 Q1
|
2025 Q2
|
---|
Net sales
1 |
61,302
|
61,125
|
62,749
|
60,560
|
51,231
|
40,954
|
37,727
|
35,576
|
36,528
|
38,340
|
38,435
|
37,306
|
38,145
|
40,304
|
39,490
|
EBITDA
1 |
6,340
|
7,676
|
8,701
|
7,774
|
6,124
|
5,941
|
6,022
|
5,724
|
5,310
|
5,032
|
5,284
|
5,473
|
5,375
|
5,383
|
5,700
|
EBIT
1 |
5,113
|
6,496
|
7,453
|
6,506
|
4,749
|
4,672
|
4,705
|
4,396
|
3,950
|
3,641
|
4,082
|
4,247
|
4,137
|
3,946
|
4,268
|
Operating Margin
|
8.34%
|
10.63%
|
11.88%
|
10.74%
|
9.27%
|
11.41%
|
12.47%
|
12.36%
|
10.81%
|
9.5%
|
10.62%
|
11.38%
|
10.85%
|
9.79%
|
10.81%
|
Earnings before Tax (EBT)
1 |
4,387
|
5,763
|
6,680
|
5,944
|
4,834
|
4,326
|
4,533
|
3,767
|
3,864
|
3,157
|
3,688
|
3,861
|
3,931
|
3,679
|
4,050
|
Net income
1 |
3,211
|
4,386
|
5,070
|
4,390
|
3,722
|
3,266
|
3,362
|
2,778
|
2,909
|
2,377
|
2,791
|
2,985
|
2,965
|
2,874
|
3,186
|
Net margin
|
5.24%
|
7.18%
|
8.08%
|
7.25%
|
7.27%
|
7.97%
|
8.91%
|
7.81%
|
7.96%
|
6.2%
|
7.26%
|
8%
|
7.77%
|
7.13%
|
8.07%
|
EPS
2 |
13.50
|
18.40
|
21.60
|
19.20
|
17.00
|
14.90
|
15.50
|
13.00
|
13.70
|
11.30
|
13.24
|
14.33
|
14.28
|
14.50
|
16.24
|
Dividend per Share
2 |
5.500
|
-
|
-
|
-
|
6.500
|
-
|
-
|
-
|
7.000
|
-
|
-
|
-
|
6.636
|
-
|
-
|
Announcement Date
|
09/02/22
|
27/04/22
|
26/07/22
|
25/10/22
|
02/02/23
|
27/04/23
|
25/07/23
|
24/10/23
|
01/02/24
|
24/04/24
|
-
|
-
|
-
|
-
|
-
|
Fiscal Period: December |
2019
|
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
2026
|
---|
Net Debt
1 |
18,355
|
16,970
|
28,454
|
29,870
|
34,583
|
33,199
|
33,441
|
34,875
|
Net Cash position
1 |
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
Leverage (Debt/EBITDA)
|
1.783
x
|
1.252
x
|
1.394
x
|
0.9866
x
|
1.504
x
|
1.528
x
|
1.436
x
|
1.422
x
|
Free Cash Flow
1 |
8,250
|
9,720
|
12,622
|
25,880
|
14,428
|
13,192
|
14,012
|
14,867
|
ROE (net income / shareholders' equity)
|
11.6%
|
8.8%
|
18.4%
|
24.1%
|
17.6%
|
15.8%
|
17.3%
|
17.8%
|
ROA (Net income/ Total Assets)
|
6.54%
|
4.39%
|
8.7%
|
11%
|
8.04%
|
7.33%
|
8.16%
|
8.54%
|
Assets
1 |
56,616
|
96,904
|
128,823
|
160,220
|
153,078
|
149,770
|
157,329
|
155,805
|
Book Value Per Share
2 |
216.0
|
210.0
|
316.0
|
330.0
|
328.0
|
344.0
|
370.0
|
398.0
|
Cash Flow per Share
2 |
34.20
|
44.40
|
52.50
|
123.0
|
76.40
|
69.50
|
79.30
|
83.60
|
Capex
1 |
1,000
|
1,121
|
1,180
|
1,514
|
2,375
|
2,329
|
2,372
|
2,513
|
Capex / Sales
|
1.06%
|
0.97%
|
0.65%
|
0.64%
|
1.58%
|
1.53%
|
1.49%
|
1.5%
|
Announcement Date
|
07/02/20
|
10/02/21
|
09/02/22
|
02/02/23
|
01/02/24
|
-
|
-
|
-
|
Last Close Price
1,044
DKK Average target price
1,407
DKK Spread / Average Target +34.71% Consensus |
1st Jan change
|
Capi.
|
---|
| -14.67% | 32.29B | | -1.52% | 6.34B | | -1.78% | 5.04B | | -2.81% | 4.45B | | +4.62% | 4.11B | | +8.17% | 3.79B | | 0.00% | 3.63B | | +82.79% | 2.82B | | -2.08% | 2.29B |
Integrated Logistics Operators
|