Best Danish Stocks: November 2026
Momentum 84: near its 52-week high and above its moving averages. Value 75: cheap on EV/EBITDA and cheap on free cash flow. Quality 73: F-Score 8/9 and wide operating margins.
As of 3 Nov 2026, H. Lundbeck A/S (HLUN-A.CO) ranks first on MoatMap's November 2026 list of Danish stocks, with a MoatMap Score of 100/100, among stocks above its $250M market-cap floor. A research ranking, not investment advice.
November 2026 edition · data as of ·6 new, 6 out, biggest climb CHEMM.CO since October·Next edition forms ·How we score stocks·How past rankings did·All Denmark stocks, refreshed daily
Top 25 Danish Stocks by MoatMap Score
- New in November 2026: Boozt AB (publ) BOOZT-DKK.CO, Dampskibsselskabet Norden A/S DNORD.CO, Trifork Group AG TRIFOR.CO, ALK-Abelló A/S ALK-B.CO, Tryg A/S TRYG.CO, Føroya Banki FOBANK.CO
- Dropped out: Zealand Pharma A/S ZEAL.CO, Vestas Wind Systems A/S VWS.CO, Embla Medical hf. EMBLA.CO, Genmab A/S GMAB.CO, Rockwool A/S ROCK-B.CO, Kreditbanken A/S KRE.CO
- Biggest climbs: ChemoMetec A/S CHEMM.CO #20 to #9, Aktieselskabet Schouw & Co. SCHO.CO #13 to #4, Novo Nordisk A/S NOVO-B.CO #16 to #11
- Biggest falls: Brødrene A & O Johansen A/S AOJ-B.CO #4 to #12, GrønlandsBANKEN A/S GRLA.CO #8 to #15, PARKEN Sport & Entertainment A/S PARKEN.CO #12 to #17
What changed since October: 6 new, 6 out
- New in November 2026: Boozt AB (publ) BOOZT-DKK.CO, Dampskibsselskabet Norden A/S DNORD.CO, Trifork Group AG TRIFOR.CO, ALK-Abelló A/S ALK-B.CO, Tryg A/S TRYG.CO, Føroya Banki FOBANK.CO
- Dropped out: Zealand Pharma A/S ZEAL.CO, Vestas Wind Systems A/S VWS.CO, Embla Medical hf. EMBLA.CO, Genmab A/S GMAB.CO, Rockwool A/S ROCK-B.CO, Kreditbanken A/S KRE.CO
- Biggest climbs: ChemoMetec A/S CHEMM.CO #20 to #9, Aktieselskabet Schouw & Co. SCHO.CO #13 to #4, Novo Nordisk A/S NOVO-B.CO #16 to #11
- Biggest falls: Brødrene A & O Johansen A/S AOJ-B.CO #4 to #12, GrønlandsBANKEN A/S GRLA.CO #8 to #15, PARKEN Sport & Entertainment A/S PARKEN.CO #12 to #17
| # | Stock | Yield | P/E | Score | Q | V | M | Style · Activity | |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Yield 2.3% | P/E 12.8 | 100 Score | 73 Q | 75 V | 84 M | Full House | ||
| 2 | Quality 78: wide operating margins and F-Score 8/9. Momentum 77: near its 52-week high and estimates revised up. Value 66: cheap on P/E and below book value. | Yield — | P/E 12.6 | 99 Score | 78 Q | 66 V | 77 M | Full HouseBuyback | |
| 3 | Momentum 81: estimates revised up and quarterly earnings growing. Quality 65: wide operating margins and high return on equity. Value 56: a high yield but expensive on free cash flow. | Yield 10.4% | P/E 7.3 | 95 Score | 65 Q | 56 V | 81 M | Full House | |
| 4 | Momentum 83: estimates revised up and near its 52-week high. Value 61: cheap on sales and cheap on free cash flow. Quality 49: F-Score 7/9 but low gross profitability. | Yield 2.0% | P/E 23.9 | 91 Score | 49 Q | 61 V | 83 M | Second WindBuyback | |
| 5 | Momentum 90: above its moving averages and outperforming the market over 6 months. Value 61: below book value. Quality 41: a weak F-Score 4/9. | Yield 2.1% | P/E 22.5 | 91 Score | 41 Q | 61 V | 90 M | Second Wind | |
| 6 | Momentum 89: outperforming the market over 6 months and above its moving averages. Quality 60: high gross profitability and high return on equity. Value 42: cheap on sales but far above book value. | Yield — | P/E 26.1 | 90 Score | 60 Q | 42 V | 89 M | Premium GrowerBuyback | |
| 7 | Quality 82: wide operating margins and F-Score 8/9. Momentum 59: above its moving averages. Value 49: expensive on sales. | Yield 3.5% | P/E 21.3 | 89 Score | 82 Q | 49 V | 59 M | Premium Grower | |
| 8 | Quality 72: high return on equity and ROIC in the top 5% of its sector. Momentum 68: above its moving averages and near its 52-week high. Value 48: far above book value. | Yield 2.7% | P/E 12.0 | 89 Score | 72 Q | 48 V | 68 M | Premium Grower | |
| 9 | Quality 92: F-Score 9/9 and wide operating margins. Momentum 79: outperforming the market over 6 months and estimates revised up. Value 17: far above book value. | Yield 1.1% | P/E 52.7 | 88 Score | 92 Q | 17 V | 79 M | Premium Grower | |
| 10 | Momentum 76: near its 52-week high and estimates revised up. Quality 69: high gross profitability and high return on equity. Value 43: little or no yield. | Yield 0.9% | P/E 16.4 | 88 Score | 69 Q | 43 V | 76 M | Premium GrowerBuyback | |
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| 11 | Quality 75: ROIC in the top 5% of its sector and high return on equity. Value 65: cheap on P/E and a high yield. Momentum 48: estimates revised up but EPS deteriorating. | Yield 4.5% | P/E 10.2 | 88 Score | 75 Q | 65 V | 48 M | Unloved QualityBuybackDeep dive → | |
| 12 | Momentum 72: near its 52-week high and above its moving averages. Quality 58: F-Score 8/9 but high debt. Value 56: cheap on sales. | Yield 3.3% | P/E 13.9 | 87 Score | 58 Q | 56 V | 72 M | Full House | |
| 13 | Momentum 68: near its 52-week high and estimates revised up. Quality 67: high gross profitability and high return on equity. Value 48: cheap on sales but far above book value. | Yield 1.1% | P/E 16.9 | 85 Score | 67 Q | 48 V | 68 M | Premium GrowerBuyback | |
| 14 | Momentum 84: near its 52-week high and estimates revised up. Quality 63: high return on equity and high gross profitability. Value 35: far above book value. | Yield — | P/E 31.8 | 84 Score | 63 Q | 35 V | 84 M | Premium Grower | |
| 15 | Momentum 81: near its 52-week high and outperforming the market over 6 months. Quality 57: wide operating margins. Value 43: valuation ratios not meaningful for a financial. | Yield 6.4% | P/E 14.7 | 84 Score | 57 Q | 43 V | 81 M | Premium Grower | |
| 16 | Momentum 80: near its 52-week high and quarterly earnings growing. Quality 60: wide operating margins and high return on equity. Value 41: valuation ratios not meaningful for a financial. | Yield 1.7% | P/E 11.3 | 84 Score | 60 Q | 41 V | 80 M | Premium Grower | |
| 17 | Momentum 79: near its 52-week high and outperforming the market over 6 months. Value 51: little or no yield. Quality 49: high return on equity but thin operating margins. | Yield 1.2% | P/E 11.0 | 82 Score | 49 Q | 51 V | 79 M | Second WindDeep dive → | |
| 18 | Value 74: a high yield and below book value. Momentum 59: estimates revised up. Quality 46: wide operating margins. | Yield 5.9% | P/E 9.3 | 82 Score | 46 Q | 74 V | 59 M | Second Wind | |
| 19 | Momentum 81: EPS improving and estimates revised up. Value 64: cheap on sales and below book value. Quality 30: a tight balance sheet. | Yield — | P/E — | 79 Score | 30 Q | 64 V | 81 M | Second Wind | |
| 20 | Momentum 76: above its moving averages and near its 52-week high. Quality 65: strong free cash flow and high gross profitability. Value 33: expensive on P/E. | Yield — | P/E 33.6 | 78 Score | 65 Q | 33 V | 76 M | Premium Grower | |
| 21 | Momentum 65: above its moving averages and near its 52-week high. Value 62: cheap on sales and cheap on P/E. Quality 47: weak free cash flow. | Yield 2.2% | P/E 9.3 | 78 Score | 47 Q | 62 V | 65 M | Second Wind | |
| 22 | Value 71: cheap on free cash flow and a high yield. Momentum 54: near its 52-week high but estimates cut. Quality 47: strong free cash flow but a tight balance sheet. | Yield 3.0% | P/E 18.8 | 77 Score | 47 Q | 71 V | 54 M | Second WindBuyback | |
| 23 | Quality 88: F-Score 9/9 and strong free cash flow. Momentum 57: estimates revised up. Value 27: far above book value. | Yield 0.6% | P/E 40.7 | 76 Score | 88 Q | 27 V | 57 M | Premium GrowerDir. buy | |
| 24 | Momentum 67: near its 52-week high and estimates revised up. Quality 67: F-Score 7/7 and high gross profitability. Value 38: far above book value; EV/EBITDA and P/FCF excluded. | Yield 5.3% | P/E 20.6 | 76 Score | 67 Q | 38 V | 67 M | Premium Grower | |
| 25 | Quality 64: wide operating margins. Value 55: valuation ratios not meaningful for a financial. Momentum 52: outperforming the market over 6 months but EPS deteriorating. | Yield 7.3% | P/E 10.6 | 75 Score | 64 Q | 55 V | 52 M | Full House | |
Ranked by MoatMap Score (Quality + Value + Momentum composite) at a minimum market cap of $250M. Yield and P/E are as of the data date; click a ticker for today’s price and score. A new edition is generated on the first scoring run of each month.
Director buying reported in the 90 days to : ALK-Abelló A/S ALK-B.CO
Active share buybacks in the 180 days to : Bavarian Nordic A/S BAVA.CO, Aktieselskabet Schouw & Co. SCHO.CO, NTG Nordic Transport Group A/S NTG.CO, SP Group A/S SPG.CO, Novo Nordisk A/S NOVO-B.CO, ISS A/S ISS.CO and 1 more
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How Denmark scores
Where the top 25 come from, and how the whole Danish market sits against the global universe. The MoatMap Score is a global percentile, so the universe splits evenly into five bands by construction; a market with more of its stocks in the upper bands is scoring well as a whole.
Top 25 by sector
- Industrials7
- Healthcare6
- Financial Services4
- Consumer Cyclical2
- Consumer Defensive2
- Basic Materials1
- Other3
Share of Danish stocks by MoatMap Score band
- 0-194% / 20%
- 20-3912% / 20%
- 40-5924% / 20%
- 60-7933% / 20%
- 80-10027% / 20%
Denmarkall markets
One Company, One Index, and What Is Underneath
Denmark is a country of six million people whose stock market is dominated by one drug company, one shipping line and a bench of industrial and healthcare specialists that lead their global niches: insulin, hearing aids, wind turbines, enzymes, container shipping, catalysts, pumps. It has been one of the best-performing markets in the world for a decade and it is priced accordingly. The list below is where Quality, Value and Momentum agree.
MoatMap scored 96 Danish stocks on 2026-11-03; 67 cleared the $250M market-cap floor this list applies. The market's average MoatMap Score is 63. Industrials is the most represented sector in the top 10 (3 names).
Novo Nordisk is the first thing to understand about Copenhagen. At its peak it was larger than the entire Danish economy and made up close to half of the main index, so the OMX Copenhagen 25 is in effect one pharmaceutical company plus everything else, and every Danish index fund is a concentrated bet on GLP-1 drugs. A factor screen does not care about index weight, which is the point of this page: underneath Novo sits a market of genuinely distinct businesses, from Maersk in container shipping and DSV in freight forwarding to Orsted in offshore wind, Vestas in turbines, Coloplast and Demant in medical devices, Novonesis in enzymes and a long tail of listed banks, brewers and industrial companies that rarely reach an international portfolio.
The Danish market is priced as a quality market, and the Quality pillar reflects it: many of the specialists earn returns on capital that would rank highly anywhere, and their scores tend to cluster at the top of the band. The trade-off shows up in Value. Danish healthcare and industrial names have traded at premium multiples for years, so a Danish stock with a strong Value score is either a genuinely overlooked mid cap or a former favourite that has been sold off, and the Momentum pillar tells you which. Shipping is the exception to everything: Maersk and the tanker owners move with freight rates rather than with the economy, and their Value scores swing from one extreme to the other across a cycle.
Disclosure follows the EU Market Abuse Regulation and MoatMap reads the Danish filings through the Nordic feed. Persons discharging managerial responsibilities must report trades within three business days, and the notifications carry the person, the role, the instrument, the volume and the price; buybacks are disclosed as weekly aggregated reports, and Danish issuers run some of the most consistent buyback programmes in Europe. The director-buying and buyback callouts below the table draw on the Copenhagen rows of that feed.
Access is straightforward through most international brokers, and the largest names trade as US ADRs. Denmark is in the EU but not the euro: the krone is pegged to the euro within a narrow band, so a euro-based investor carries almost no currency risk while a dollar or sterling holder carries the euro's. Denmark withholds 27% on dividends paid to non-residents, reduced under treaties by reclaim, a process that has been slow in practice. Several Copenhagen listings, TORM and Embla Medical among them, keep a foreign registered office while trading here as their home market, and they appear on this page for that reason.
Frequently Asked Questions
- What are the top-ranked Danish stocks right now?
- The table above ranks the top 25 Nasdaq Copenhagen stocks by MoatMap Score, a composite of Quality (returns on capital, cash conversion, balance sheet), Value (six price ratios, from P/E to dividend yield) and Momentum (price trend and earnings revisions). It refreshes monthly with a stated data date, and each ticker links to a full score breakdown.
- Why is Novo Nordisk such a large part of the Danish market?
- Its GLP-1 diabetes and obesity drugs made it the most valuable company in Europe for a period, and at its peak it was close to half of the main Copenhagen index. Every Danish index fund is therefore a concentrated bet on one company, which is why a factor screen that ignores index weight shows a different Denmark from the one an ETF does.
- Does MoatMap track Danish insider trades and buybacks?
- Yes, through the Nordic feed, which reads the MAR Article 19 notifications (person, role, instrument, volume and price, within three business days) and the weekly aggregated buyback reports for Copenhagen alongside Stockholm, Helsinki and Iceland. The callouts on this page use the Copenhagen rows.
- What is the difference between A and B shares in Denmark?
- Several Danish companies list A shares with extra votes and B shares with one, and the two lines can both clear the screen because their prices differ slightly. This page keeps one line per company, the higher-scoring one, so a top 25 is 25 businesses rather than 25 tickers.
- How can foreigners buy Danish stocks, and what about the krone?
- Most international brokers offer Nasdaq Copenhagen access and the largest names trade as US ADRs. The krone is pegged to the euro within a narrow band, so a euro investor carries almost no currency risk. Denmark withholds 27% on dividends to non-residents, reduced under treaties by a reclaim process that has been slow in practice, so confirm the treatment with your broker.
- How often does this Denmark ranking refresh?
- A new edition forms on the first scoring run of each calendar month and the page states its data-as-of date. Underlying scores recompute nightly; for the daily view, use the ranked list filtered to Denmark.