Earnings Estimates

Earnings Estimates

Values in DKK

Stock Information

Price (Prev Close):	16,560.00
Price - 52 Week High:	18,895.00
Price - 52 Week Low:	8,022.00
Price Date (Latest):	7/30/21
Median Price Target:	2,969.55
Diff from Prev Close:	-13,590.45
% Difference:	-82.07

Analyst Ratings

Mean Recommendation:

2.57

Sell

Strong Buy

Available Measures

Available Measures

Reference Information - Earnings Per Share

Last Actual (FY0):	145.00
FY0 End Date:	12/1/20
Ind. Annual Div:	330.00
Hist (5 Yr) Growth %:	31.44
Yield (%):	1.89

Analyst Forecasts - Earnings Per Share

Last Month Revisions
Fiscal Period		Mean	High	Low	Median	# of Estimates	# Up	# Down	Mean % Change
							Last Month Revisions
Annual	Dec 23	219.00	343.97	111.93	224.65	14	2	2	11.68
Annual	Dec 22	274.67	477.76	156.00	254.89	18	5	1	4.05
Annual	Dec 21	545.54	709.11	325.00	571.51	18	5	1	2.10
Quarterly	Mar 22	36.85	63.75	9.96	36.85	2	--	--	--
Quarterly	Jun 21	179.87	204.00	164.61	169.35	5	2	--	3.22
Quarterly	Sep 21	150.30	188.18	111.16	150.93	4	1	--	13.78
Quarterly	Dec 21	89.38	139.64	27.20	95.34	4	1	--	30.75
Long Term Growth		12.21	14.40	10.02	12.21	2	--	--	0.00

Actuals - Earnings Per Share

		Reported	Mean Estimate	Surprise % Change
Annual	Dec 20	145.00	153.55	-5.57
Annual	Dec 19	26.00	37.64	-30.93
Annual	Dec 18	-10.60	9.40	-212.81
Quarterly	Mar 21	139.00	168.90	-17.70
Quarterly	Dec 20	66.00	70.14	-5.91
Quarterly	Sep 20	48.00	47.87	0.27
Quarterly	Jun 20	21.00	16.26	29.16

Reference Information - Book Value Per Share

Last Actual (FY0):	1,490.12
FY0 End Date:	12/1/20
Ind. Annual Div:	--
Hist (5 Yr) Growth %:	--
Yield (%):	--

Analyst Forecasts - Book Value Per Share

Last Month Revisions
Fiscal Period		Mean	High	Low	Median	# of Estimates	# Up	# Down	Mean % Change
							Last Month Revisions
Annual	Dec 23	2,238.90	2,978.40	1,657.92	2,210.38	10	1	2	2.16
Annual	Dec 22	2,051.04	2,904.30	1,407.35	2,094.03	12	2	--	1.97
Annual	Dec 21	1,901.39	2,261.60	1,433.51	2,000.25	12	2	--	1.22
Quarterly	Mar 22	1,662.80	1,662.80	1,662.80	1,662.80	1	--	--	--
Quarterly	Jun 21	1,765.10	1,765.10	1,765.10	1,765.10	1	--	--	--
Quarterly	Sep 21	1,872.40	1,872.40	1,872.40	1,872.40	1	--	--	--
Quarterly	Dec 21	1,664.60	1,664.60	1,664.60	1,664.60	1	--	--	--

Actuals - Book Value Per Share

		Reported	Mean Estimate	Surprise % Change
Annual	Dec 20	1,490.12	1,540.19	-3.25
Annual	Dec 19	1,440.92	1,428.85	0.84
Annual	Dec 18	1,571.34	1,583.45	-0.77
Quarterly	Mar 21	1,543.43	1,628.70	-5.24
Quarterly	Dec 20	1,490.12	1,456.70	2.29
Quarterly	Sep 20	3,185.87	1,412.90	125.48
Quarterly	Jun 20	1,373.51	--	--

Reference Information - Cash Flow Per Share

Last Actual (FY0):	369.60
FY0 End Date:	12/1/20
Ind. Annual Div:	--
Hist (5 Yr) Growth %:	--
Yield (%):	--

Analyst Forecasts - Cash Flow Per Share

Last Month Revisions
Fiscal Period		Mean	High	Low	Median	# of Estimates	# Up	# Down	Mean % Change
							Last Month Revisions
Annual	Dec 23	471.11	633.20	379.52	454.56	6	--	1	-2.39
Annual	Dec 22	591.84	951.01	362.09	579.24	9	1	--	1.65
Annual	Dec 21	746.55	940.99	379.51	775.31	9	1	--	1.02
Quarterly	Jun 21	152.83	152.83	152.83	152.83	1	--	--	--
Quarterly	Sep 21	77.43	77.43	77.43	77.43	1	--	--	--
Quarterly	Dec 21	128.72	128.72	128.72	128.72	1	--	--	--

Actuals - Cash Flow Per Share

		Reported	Mean Estimate	Surprise % Change
Annual	Dec 20	369.60	353.92	4.43
Annual	Dec 19	279.38	237.87	17.45
Annual	Dec 18	155.35	140.27	10.75
Quarterly	Mar 21	171.38	215.55	-20.49
Quarterly	Dec 20	124.54	98.40	26.57
Quarterly	Sep 20	112.68	99.10	13.70

Reference Information - Dividend Per Share

Last Actual (FY0):	22.94
FY0 End Date:	12/1/20
Ind. Annual Div:	--
Hist (5 Yr) Growth %:	--
Yield (%):	--

Analyst Forecasts - Dividend Per Share

Last Month Revisions
Fiscal Period		Mean	High	Low	Median	# of Estimates	# Up	# Down	Mean % Change
							Last Month Revisions
Annual	Dec 23	89.87	118.71	56.86	94.94	13	4	1	6.57
Annual	Dec 22	102.62	142.62	73.70	95.41	13	3	2	0.61
Annual	Dec 21	206.60	256.62	132.00	208.75	13	3	2	2.89
Quarterly	Mar 22	--	--	--	--	2	--	--	0.00
Quarterly	Jun 21	--	--	--	--	2	--	--	0.00
Quarterly	Sep 21	--	--	--	--	2	--	--	0.00
Quarterly	Dec 21	--	--	--	--	--	--	--	--

Actuals - Dividend Per Share

		Reported	Mean Estimate	Surprise % Change
Annual	Dec 20	22.94	45.01	-49.04
Annual	Dec 19	22.49	24.16	-6.91
Annual	Dec 18	23.00	29.34	-21.60
Quarterly	Mar 21	53.51	26.08	105.20
Quarterly	Sep 20	--	--	--
Quarterly	Jun 20	--	--	--

Reference Information - EBIT

Last Actual (FY0):	4,186.00
FY0 End Date:	12/1/20
Ind. Annual Div:	--
Hist (5 Yr) Growth %:	--
Yield (%):	--

Analyst Forecasts - EBIT

Last Month Revisions
Fiscal Period		Mean	High	Low	Median	# of Estimates	# Up	# Down	Mean % Change
							Last Month Revisions
Annual	Dec 23	5,029.60	7,235.00	2,843.93	5,025.72	16	3	2	3.22
Annual	Dec 22	6,307.51	8,135.30	4,490.00	6,257.47	15	6	--	6.29
Annual	Dec 21	13,009.40	15,357.88	9,684.00	12,961.72	16	6	--	6.63
Quarterly	Mar 22	932.71	1,402.41	463.00	932.71	2	--	--	--
Quarterly	Jun 21	3,804.01	4,407.00	3,354.00	3,690.52	8	1	--	3.50
Quarterly	Sep 21	3,583.68	5,495.00	2,395.00	3,382.54	6	1	--	10.07
Quarterly	Dec 21	1,827.22	2,427.00	768.00	1,845.00	6	--	1	-1.60

Actuals - EBIT

		Reported	Mean Estimate	Surprise % Change
Annual	Dec 20	4,186.00	4,354.74	-3.87
Annual	Dec 19	1,725.00	1,754.89	-1.70
Annual	Dec 18	627.00	784.17	-20.04
Quarterly	Mar 21	3,097.00	3,647.00	-15.08
Quarterly	Dec 20	1,594.00	1,674.36	-4.80
Quarterly	Sep 20	1,289.00	1,342.00	-3.95
Quarterly	Jun 20	751.00	557.30	34.76

Reference Information - EBITDA

Last Actual (FY0):	8,226.00
FY0 End Date:	12/1/20
Ind. Annual Div:	--
Hist (5 Yr) Growth %:	--
Yield (%):	--

Analyst Forecasts - EBITDA

Last Month Revisions
Fiscal Period		Mean	High	Low	Median	# of Estimates	# Up	# Down	Mean % Change
							Last Month Revisions
Annual	Dec 23	9,701.05	12,574.00	7,546.00	9,824.00	17	3	3	0.83
Annual	Dec 22	11,153.61	14,118.00	8,935.00	10,910.79	19	7	--	4.05
Annual	Dec 21	17,347.30	20,881.00	14,468.00	17,445.84	18	6	--	4.15
Quarterly	Mar 22	1,646.71	1,891.00	1,402.41	1,646.71	2	--	--	--
Quarterly	Jun 21	4,661.88	5,468.00	3,621.04	4,746.50	8	1	--	2.79
Quarterly	Sep 21	4,501.73	6,572.00	3,411.00	3,900.08	7	1	--	6.64
Quarterly	Dec 21	2,873.76	4,376.00	2,190.00	2,624.00	7	--	1	5.07

Actuals - EBITDA

		Reported	Mean Estimate	Surprise % Change
Annual	Dec 20	8,226.00	8,587.45	-4.21
Annual	Dec 19	5,712.00	5,691.25	0.36
Annual	Dec 18	3,806.00	3,844.06	-0.99
Quarterly	Mar 21	4,039.00	4,011.66	0.68
Quarterly	Dec 20	2,711.00	2,702.69	0.31
Quarterly	Sep 20	2,297.00	2,385.00	-3.69
Quarterly	Jun 20	1,697.00	1,574.57	7.78

Reference Information - GAAP Earnings Per Share

Last Actual (FY0):	145.00
FY0 End Date:	12/1/20
Ind. Annual Div:	--
Hist (5 Yr) Growth %:	--
Yield (%):	--

Analyst Forecasts - GAAP Earnings Per Share

Last Month Revisions
Fiscal Period		Mean	High	Low	Median	# of Estimates	# Up	# Down	Mean % Change
							Last Month Revisions
Annual	Dec 23	230.45	391.55	105.48	229.47	14	2	1	1.57
Annual	Dec 22	259.97	477.76	111.90	241.00	17	4	--	4.85
Annual	Dec 21	569.70	687.00	443.57	580.82	12	4	--	2.69
Quarterly	Mar 22	36.85	63.75	9.96	36.85	2	--	--	--
Quarterly	Jun 21	176.12	204.00	164.61	167.93	4	1	--	1.73
Quarterly	Sep 21	137.68	183.45	111.16	118.42	3	--	--	--
Quarterly	Dec 21	72.62	112.84	27.20	77.83	3	--	--	--

Actuals - GAAP Earnings Per Share

		Reported	Mean Estimate	Surprise % Change
Annual	Dec 20	145.00	153.99	-5.84
Annual	Dec 19	-4.00	30.88	-112.96
Annual	Dec 18	152.00	123.33	23.25
Quarterly	Mar 21	139.00	130.12	6.83
Quarterly	Dec 20	66.00	65.20	1.23
Quarterly	Sep 20	48.00	46.76	2.64
Quarterly	Jun 20	21.00	16.79	25.07

Reference Information - Net Asset Value

Last Actual (FY0):	30,854.00
FY0 End Date:	12/1/20
Ind. Annual Div:	--
Hist (5 Yr) Growth %:	--
Yield (%):	--

Analyst Forecasts - Net Asset Value

Last Month Revisions
Fiscal Period		Mean	High	Low	Median	# of Estimates	# Up	# Down	Mean % Change
							Last Month Revisions
Annual	Dec 23	42,428.00	51,989.00	35,475.00	40,292.00	8	--	1	0.87
Annual	Dec 22	40,510.78	51,679.00	33,543.00	37,314.00	9	1	1	1.94
Annual	Dec 21	37,468.44	42,160.00	32,906.00	38,654.00	9	1	1	0.50

Actuals - Net Asset Value

		Reported	Mean Estimate	Surprise % Change
Annual	Dec 20	30,854.00	30,670.63	0.60
Annual	Dec 19	28,837.00	30,234.88	-4.62
Annual	Dec 18	33,392.00	33,413.50	-0.06

Reference Information - Net Debt

Last Actual (FY0):	9,507.00
FY0 End Date:	12/1/20
Ind. Annual Div:	--
Hist (5 Yr) Growth %:	--
Yield (%):	--

Analyst Forecasts - Net Debt

Last Month Revisions
Fiscal Period		Mean	High	Low	Median	# of Estimates	# Up	# Down	Mean % Change
							Last Month Revisions
Annual	Dec 23	3,994.57	9,468.00	-5,180.36	5,130.32	7	--	1	-7.65
Annual	Dec 22	5,747.05	9,944.00	947.42	5,920.42	9	--	--	2.03
Annual	Dec 21	4,652.85	7,654.00	868.00	4,613.36	6	--	--	13.69
Quarterly	Jun 21	--	--	--	--	--	--	--	--
Quarterly	Sep 21	4,801.10	4,801.10	4,801.10	4,801.10	1	--	--	--
Quarterly	Dec 21	3,310.03	3,310.03	3,310.03	3,310.03	1	--	--	--

Actuals - Net Debt

		Reported	Mean Estimate	Surprise % Change
Annual	Dec 20	9,507.00	8,873.55	7.14
Annual	Dec 19	11,983.00	10,843.08	10.51
Annual	Dec 18	6,586.00	10,846.44	-39.28
Quarterly	Mar 21	8,042.00	--	--
Quarterly	Dec 20	9,507.00	--	--
Quarterly	Sep 20	11,054.00	--	--
Quarterly	Jun 20	12,023.00	--	--

Reference Information - Net Income

Last Actual (FY0):	2,850.00
FY0 End Date:	12/1/20
Ind. Annual Div:	--
Hist (5 Yr) Growth %:	--
Yield (%):	--

Analyst Forecasts - Net Income

Last Month Revisions
Fiscal Period		Mean	High	Low	Median	# of Estimates	# Up	# Down	Mean % Change
							Last Month Revisions
Annual	Dec 23	3,651.77	5,155.00	2,233.71	3,874.88	15	2	1	3.38
Annual	Dec 22	4,727.14	6,038.00	3,421.00	4,811.71	15	4	--	4.66
Annual	Dec 21	11,205.91	13,604.00	8,496.00	11,085.00	17	6	--	4.11
Quarterly	Mar 22	679.07	1,172.14	186.00	679.07	2	--	--	--
Quarterly	Jun 21	3,303.93	3,976.00	2,735.00	3,224.28	6	1	--	2.72
Quarterly	Sep 21	3,048.35	5,125.00	2,125.00	2,281.00	5	1	--	5.68
Quarterly	Dec 21	1,425.41	2,103.04	515.00	1,499.00	5	--	1	-5.77

Actuals - Net Income

		Reported	Mean Estimate	Surprise % Change
Annual	Dec 20	2,850.00	3,096.33	-7.96
Annual	Dec 19	546.00	836.30	-34.71
Annual	Dec 18	-220.00	247.82	-188.78
Quarterly	Mar 21	2,697.00	3,061.50	-11.91
Quarterly	Dec 20	1,299.00	1,386.68	-6.32
Quarterly	Sep 20	927.00	971.50	-4.58
Quarterly	Jun 20	427.00	257.67	65.72

Reference Information - Operating Profit

Last Actual (FY0):	4,186.00
FY0 End Date:
Ind. Annual Div:	--
Hist (5 Yr) Growth %:	--
Yield (%):	--

Analyst Forecasts - Operating Profit

Last Month Revisions
Fiscal Period		Mean	High	Low	Median	# of Estimates	# Up	# Down	Mean % Change
							Last Month Revisions
Annual	Dec 23	42,227.81	42,227.81	42,227.81	42,227.81	1	--	--	--
Annual	Dec 22	--	--	--	--	--	--	--	--
Annual	Dec 21	--	--	--	--	--	--	--	--

Actuals - Operating Profit

		Reported	Mean Estimate	Surprise % Change
Annual	Dec 20	4,186.00	4,425.71	-5.42
Annual	Dec 19	1,725.00	35,513.66	-95.14
Annual	Dec 18	627.00	276.03	127.15

Reference Information - Return On Equity

Last Actual (FY0):	9.84
FY0 End Date:	12/1/20
Ind. Annual Div:	--
Hist (5 Yr) Growth %:	--
Yield (%):	--

Analyst Forecasts - Return On Equity

Last Month Revisions
Fiscal Period		Mean	High	Low	Median	# of Estimates	# Up	# Down	Mean % Change
							Last Month Revisions
Annual	Dec 23	10.74	15.90	6.52	11.14	14	--	--	1.73
Annual	Dec 22	16.08	29.10	10.70	14.48	14	--	--	5.21
Annual	Dec 21	33.67	38.86	27.00	34.35	15	--	--	8.08
Quarterly	Mar 22	18.20	18.20	18.20	18.20	1	--	--	--
Quarterly	Jun 21	26.20	26.20	26.20	26.20	1	--	--	--
Quarterly	Sep 21	28.50	28.50	28.50	28.50	1	--	--	--
Quarterly	Dec 21	25.80	25.80	25.80	25.80	1	--	--	--

Actuals - Return On Equity

		Reported	Mean Estimate	Surprise % Change
Annual	Dec 20	9.84	9.79	0.05
Annual	Dec 19	1.80	2.60	-0.80
Annual	Dec 18	-0.70	3.56	-4.26
Quarterly	Mar 21	8.88	18.40	-9.52
Quarterly	Dec 20	17.93	7.00	10.93
Quarterly	Sep 20	3.25	3.90	-0.65

Reference Information - Sales

Last Actual (FY0):	39,740.00
FY0 End Date:	12/1/20
Ind. Annual Div:	--
Hist (5 Yr) Growth %:	--
Yield (%):	--

Analyst Forecasts - Sales

Last Month Revisions
Fiscal Period		Mean	High	Low	Median	# of Estimates	# Up	# Down	Mean % Change
							Last Month Revisions
Annual	Dec 23	47,500.59	50,432.71	44,725.00	47,542.72	18	4	2	0.75
Annual	Dec 22	48,310.81	53,437.00	45,934.00	47,716.00	21	6	1	1.61
Annual	Dec 21	52,803.53	56,114.05	49,417.00	53,060.26	20	7	--	1.54
Quarterly	Mar 22	10,943.44	11,313.88	10,573.00	10,943.44	2	--	--	--
Quarterly	Jun 21	13,794.14	14,302.45	13,029.00	13,947.00	9	2	--	0.69
Quarterly	Sep 21	13,716.28	15,465.00	12,502.00	13,714.00	8	2	--	3.19
Quarterly	Dec 21	12,515.57	14,276.00	11,528.00	11,873.00	8	2	--	5.21

Actuals - Sales

		Reported	Mean Estimate	Surprise % Change
Annual	Dec 20	39,740.00	39,547.50	0.49
Annual	Dec 19	38,890.00	39,348.12	-1.16
Annual	Dec 18	39,019.00	38,843.26	0.45
Quarterly	Mar 21	12,439.00	13,133.67	-5.29
Quarterly	Dec 20	11,255.00	10,875.48	3.49
Quarterly	Sep 20	9,917.00	10,253.46	-3.28
Quarterly	Jun 20	8,997.00	8,891.13	1.19

P/E Ratios

Fiscal Year	FY0	FY1	FY2
Ratios	114.21	30.36	60.29

EPS Growth Rates

Fiscal YOY	FY1/FY0	FY2/FY1	FY3/FY2
Growth Rate	255.29	-49.65	-20.27

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