Demant A/S (WILYY)
NEUTRALFundamental
49
Kurs
$822.00
Marktkapitalisierung
$33.77B
Teil 1 · Was das Unternehmen wert ist
Übersicht
Demant is a Danish hearing healthcare group that designs and manufactures hearing aids sold under brands including Oticon and Bernafon, and runs a network of owned and franchised clinics where audiologists test patients' hearing and fit them with a device. A smaller unit sells diagnostic equipment, such as audiometers and balance-testing systems, to clinics and hospitals. It sold a separate communications business, which made headsets and speakerphones, and has treated it as a discontinued operation since 2024.
Wie das Geld verdient wird
Most revenue comes from selling hearing aids, physical devices fitted to a patient's ear that are typically replaced every several years, plus recurring sales of batteries, accessories, repairs and clinical services around them. A smaller stream comes from selling diagnostic equipment to clinics and hospitals. Because hearing loss is a chronic, progressive condition, each patient tends to return to buy a replacement device or accessories over time, and purchases are often reimbursed or subsidized by public healthcare systems in Demant's main markets.
Was die Nachfrage antreibt
DefensivHearing loss is mainly a consequence of aging, so the number of people who need a hearing aid grows steadily with an older population and is not closely tied to how the economy is doing in a given year. Purchases can still be postponed for a few months by a household under financial strain, but the underlying medical need does not disappear the way demand for a discretionary product would in a downturn.
Die Argumente dafür
Buyers argue that an aging population in Demant's main markets keeps the number of potential hearing aid users growing for decades to come, and that 2025's revenue growth shows the underlying demand for its devices and clinics remaining solid.
Die Argumente dagegen
Sellers worry that 2025's profit fell even as revenue grew, forcing the company into a cost-cutting programme, and that pricing and reimbursement pressure in a market with several well-capitalized rivals could keep squeezing margins even if the number of patients keeps rising.
Written by the editors, published on 18. August 2026
Direct competitors
Who this company fights with for the same customers
No editorial profile for this company yet
No competitor list for this company yet.
Bilanz & Liquidität
Umsatz
$3.48B
Letzte 12 Monate bis zum zuletzt gemeldeten Quartal — Schätzung aus Kennzahlen je Aktie
Nettogewinn
$234M
Letzte 12 Monate bis zum zuletzt gemeldeten Quartal — Schätzung aus Kennzahlen je Aktie
Freier Cashflow
-
Gesamtes Eigenkapital
$24.56B
Gesamtverbindlichkeiten
$426M
Current Ratio
1.63
Zinsdeckungsgrad
-
Schulden/EBITDA
2.60
Gewinn je Aktie
Umsatz & Nettogewinn
Freier Cashflow
Ertragsaufschlüsselung
Historische Aufstellung
Margen im Zeitverlauf
Verschuldung im Zeitverlauf
Wie schwer die Schulden wiegen
Wachstumsraster
Wachstum — Umsatz
Innerer-Wert-Schätzung
Innerer Wert
$1931.85
Aktueller Kurs
$822.00
Sicherheitsmarge
+57.5%
Innerer-Wert-Spanne
$1255.70 - $2608.00
Bewertungsmethoden
Bewertungskennzahlen
P/E-Verhältnis
111.11
ROE
2.7%
P/B-Verhältnis
17.40
P/FCF
-
Bruttomarge
75.6%
ROIC
0.5%
Rentabilitäts-Radar
Value Creation (Economic Moat)
ROIC
0.5%
WACC
7.9%
ROIC − WACC
-7.4 pp
ROIC is below the cost of capital — the company is destroying value for every dollar invested.
Fundamentalanalyse-Kriterien
Bestanden (10)
- Price CAGR 13.59%
- Gross Margin 75.6%
- Debt/Equity ratio
- Operating Margin 16.7%
- Current Ratio
- Debt/EBITDA
- ROE 16.1%
- Revenue Growth 5Y 9.7%
- Analyst Consensus 65% Buy
- Net Margin Trend 53.0% vs 43.8%
Nicht bestanden (8)
- ROIC 0.5%
- P/B Ratio 17.40
- Price below Graham Number
- DCF valuation (Unknown)
- Earnings Surprise avg -11.2%
- PEG Ratio 4.10
- Earnings Quality (OCF/NI) 0.29
- Piotroski F-Score 1/9
Nicht verfügbar (9)
- EPS data insufficient
- P/FCF NaN
- Dividend Payout NaN%
- Positive Free Cash Flow
- CapEx intensity
- Interest Coverage
- Return on Tangible Assets
- Low reliance on intangibles
- Share Dilution (missing shares data)
Piotroski F-Score
Ernsthafte finanzielle Bedenken
Gewinnqualität
Niedrige Qualität: Rechnungslegung prüfen
Aktienverwässerung
Aktienrückkäufe. Aktionärsfreundlich
Unternehmensführung
Führungsteam
| Name | Position | Alter |
|---|---|---|
| Mr. Thomas Wilhelmsen | Group Chief Executive Officer | 51 |
| Mr. Christian Berg | Group Chief Financial Officer | 56 |
| Mr. Bjorge Grimholt | Executive Vice President of Maritime Services | - |
| Ms. Benedicte Teigen Gude | Chief of Staff | - |
| Mr. Geir Flaesen | Executive Vice President of New Energy | - |
| Mr. Carl Schou | President & CEO of Wilhelmsen Ship Management (WSM) | - |
| Mr. John Egil Stangeland | Chief Executive Officer of NorSea Group | - |
| Mr. Age Sturtzel Holm | Vice President of Investor Relations & Corporate Support | - |
| Ms. Anna Kverneland | Vice President of Investor Relations | - |
Prüfungsrisiko
2
Vorstandsrisiko
4
Vergütungsrisiko
6
Aktionärsrechterisiko
9
Teil 2 · Der Preis und der Einstiegszeitpunkt
Dieser Teil sagt nicht, ob das Unternehmen etwas taugt: Er hilft bei der Wahl des Kaufzeitpunkts, nachdem die Fundamentaldaten überzeugt haben. Enthalten: technische Analyse, Potenzial, historische Drawdowns, Gamma-Exposure.
Latest News
Recent headlines for WILYY, sourced from Markets Gazette.