Obermatt

Pandora

CPH:PNDORA · DK0060252690
Textiles, Apparel & Luxury GoodsSmall

360

53
EV / EBIT69
Price / Owner Earnings62
Owner Earnings Yield70
Dividend Yield85
Price/Sales31
EV / Gross Profit50
Price/Book1
Return on Capital99
Cash Return on Capital90
Return on Equity100
EBIT Margin93
Gross Profitability97
Cash Conversion41
Accruals52
Owner Earnings Margin80
Sales growth30
Profit Growth75
Long-Term EPS Growth4
Owner Earnings Growth42
Reinvestment61
Price momentum7
Debt load11
Refinancing33
Debt Payback42
Liquidity84
Analyst ratings22
Opinion Changes40
Price Target Upside10
Market mood65
Value Creation12/20creating some value
  • Creates more value than its capital costs
  • Owner earnings growing
  • Owner earnings per share growing
  • Reinvests at strong returns
  • Solid earnings base

What this means

Pandora clears its cost of capital, but the record is mixed across the five tests. Real value creation, just not yet consistent.

Profile

CountryDenmark
IndustryTextiles, Apparel & Luxury Goods
SizeSmall
TypePublic Company
ExchangeCPSE
Founded2005
Employees12,552
ISINDK0060252690
Last UpdateApr 2, 2026
Themes
LifestyleManufacturing

Description

Pandora A/S engages in the design, manufacture, and marketing of hand-finished and contemporary jewelry. The company is known for its charm bracelets, customizable charm jewelry, and a diverse assortment of rings, earrings, necklaces, and pendants. A…

Analysis

Quality compounder

Pandora A/S is a quality compounder: a well-run business trading at a price that reflects what it is worth. One caution: reported profits have recently run ahead of actual cash, which we track closely.

The price is attractive. You pay 10.2× its owner earnings: the cash an owner could take out each year, which is in the historically attractive zone. At today's price, the market is assuming roughly -3% yearly growth; analysts expect -9%. The gap between price and consensus is worth watching: demanding expectations.

The trajectory is tepid and the balance sheet is adequate. The company scores 12/20 on our value-creation score: creating some value.

What to watch: Reported profits have run ahead of actual cash for several periods. As always: this describes the company's numbers; it is not a recommendation.

360° rank · history

1007550250
22
2023202420252026

All-time high

51

Jan 2024

All-time low

10

Sep 2025

Average rank

23

across all years

Detailed & Historical Ranks

Deep dive into 15 detailed ranks and 3 years of history.

Current202520242023
Price/Sales
31
16
15
21
Price/Earnings
55
31
34
36
Price/Book
1
1
3
5
Dividend Yield
85
58
24
43
Value (overall)
49
29
11
25

Cells are coloured by rank band (red weak → green strong). Sentiment & 360° history begins 2023.

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Make Sense of the Ranks

Every rank runs 1–100 against true peers. Higher is always better.

360° View
1 · Watch OutGood· 100
Value
1 · ExpensiveGood Value· 100
Quality
1 · Weak FundamentalsHigh Quality· 100
Growth
1 · Tough TimesHigh Growth· 100
Safety
1 · High LeverageWell-Financed· 100
Sentiment
1 · SkepticismPositive· 100
Learn More →