Pandora A/S (PNDORA) Fair Value & Analysis
Consumer Cyclical · DK · Market cap 58.3B DKK (≈ $9.1B) · ISIN DK0060252690
What is Pandora A/S really worth?
A solid business, trading 41% below our fair value of kr 1,424.
Strengths
Risks
For context
Fair value as of: Aug 22, 2026
From 26 valuation models · updated 14 days ago
Share price +1.2% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The rarer combination: high quality (72/100) AND below fair value. That earns a closer look rather than a quick verdict.
- The price is below even our cautious bear case (kr 906.77). The market is more pessimistic than our downside scenario.
- A fairly wide model range (kr 906.77 to kr 1,840) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 22, 2026.
How to read this chart
60‑month range kr 320.85 – kr 1,311 · fair‑value band kr 906.77 – kr 1,840 · the kr 846.60 price screens below the kr 1,424 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 22, 2026.
Analysis
Pandora A/S (PNDORA) currently trades at kr 846.60, while our model-based Fair Value estimate is kr 1,424, implying the stock looks roughly 40.5% undervalued today. The Quality Score stands at 72/100 (solid quality), in the Consumer Cyclical sector. Bull case: the DCF Models group reads highest at a median of kr 1,748 per share, and 14 of the 26 models we run sit above the kr 846.60 price. Bear case: the Dividend Discount group reads lowest at kr 337.24, and 12 of the 26 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Pandora A/S generated revenue of 32.3B DKK at a net margin of 15.7%. Revenue declined 3.2% year over year. It earns a return on equity of 129.4%. Net debt stands at 17.9B DKK. Fundamentals as of Aug 22, 2026
Our scenario range runs from kr 906.77 (bear case) to kr 1,840 (bull case); at kr 846.60, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 27% below its 52-week high and 97% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at −38% fair-value upside, at 68%, PNDORA screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly kr 30.34 per share, which is 2.1 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 26 models by family
Widest divergence: DCF Models (kr 1,748) versus Asset-Based (kr 47.31). Highest evidence: FCF DCF (77).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 22, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 68 · Market factors (momentum, volatility) 59
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Pandora A/S engages in the design, crafting, and marketing of jewelry worldwide. The company operates in two segments, Core and Fuel With More. It offers charm and carrier products; and lab grown diamonds. The company sells its products through physical stores, online stores, and wholesale and third-party distribution.
Full company description
Pandora A/S engages in the design, crafting, and marketing of jewelry worldwide. The company operates in two segments, Core and Fuel With More. It offers charm and carrier products; and lab grown diamonds. The company sells its products through physical stores, online stores, and wholesale and third-party distribution. Pandora A/S was founded in 1982 and is based in Copenhagen, Denmark.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Pandora A/S reported revenue of 32.5B DKK in FY2025 versus 23.4B DKK in FY2021, a compound +8.6%/yr. Reported net income was 5.2B DKK in FY2025, compounding +5.9%/yr from FY2021.
of which total revenue +7.3 % · buybacks/dilution +4.4 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
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Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Trading in Pandora A/S shares by Board members, Executives and Associated persons
- Pandora delivers 3% organic growth in Q2 - guidance upgraded
- Pandora appoints Paulo Garcia as new CFO as Anders Boyer will retire
- Assessing Pandora (CPSE:PNDORA) Valuation After Recent Share Price Momentum Shift
Peer Group
Luxury Goods · 135 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Luxury Goods median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Luxury Goods stocks, each showing price versus our Fair Value estimate (as of Aug 22, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Hermès International Société en commandite par actions RMS | €1,598 | €950.24 | −41% |
| Compagnie Financière Richemont SA CFR | CHF 192.15 | CHF 119.49 | −38% |
| Christian Dior SE DIO | €423.60 | €1,095 | +159% |
| Titan Company TITAN | ₹5,106 | ₹972.23 | −81% |
| Tapestry, Inc TPR | $153.74 | $19.95 | −87% |
| Chow Tai Fook Jewellery Group 1929 | HK$12.31 | HK$11.51 | −6% |
| The Swatch Group UHRN | CHF 36.35 | CHF 8.46 | −77% |
| Prada S.p.A 1913 | HK$40.86 | HK$64.71 | +58% |
| Laopu Gold Co 6181 | HK$385.00 | HK$654.83 | +70% |
| Brunello Cucinelli S.p.A BC | €89.08 | €34.90 | −61% |
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