Demant A/S (WILYY)
Fair ValueFundamental
48
Price
$841.00
Market Cap
$37.43B
Part 1 · What the company is worth
Overview
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.
How it makes money
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.
What drives demand
DefensiveHearing 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.
The case for
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.
The case against
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 August 18, 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.
Balance Sheet & Liquidity
Revenue
$3.74B
Trailing 12 months to the last reported quarter — estimated from per-share metrics
Net Income
$245M
Trailing 12 months to the last reported quarter — estimated from per-share metrics
Free Cash Flow
-
Total Equity
$25.73B
Total Liabilities
$426M
Current Ratio
1.63
Interest Coverage
-
Debt/EBITDA
2.60
Earnings Per Share
Revenue & Net Income
Free Cash Flow
Income Breakdown
Historical statement
Margins over time
Debt over time
How heavy the debt is
Growth grid
Growth — Revenue
Fair Value Estimation
Fair Value
$1013.07
Current Price
$841.00
Margin of Safety
+17.0%
Fair Value Range
$658.50 - $1367.64
Spread across the valuation methods used, not a statistically calibrated confidence interval.
Estimation Methods
Valuation Metrics
P/E Ratio
109.90
ROE
2.5%
P/B Ratio
15.63
P/FCF
-
Gross Margin
76.3%
ROIC
0.5%
Profitability Radar
Value Creation (Economic Moat)
ROIC
0.5%
WACC
8.1%
ROIC − WACC
-7.6 pp
ROIC is below the cost of capital — the company is destroying value for every dollar invested.
Fundamental Analysis Criteria
Passed (9)
- Price CAGR 14.61%
- Gross margin 76.3%
- Debt/equity ratio
- Operating margin 15.8%
- Current ratio
- Debt/EBITDA
- ROE 15.3%
- Revenue growth 5Y 9.7%
- Net margin trend 53.0% vs 43.8%
Failed (8)
- ROIC 0.5%
- P/B ratio 15.63
- Price below Graham Number
- DCF valuation (Unknown)
- Earnings surprise, average -7.5%
- PEG ratio 4.87
- Earnings quality (operating cash flow / net income) 0.29
- Piotroski F-Score 1/9
Unavailable (9)
- EPS data insufficient
- P/FCF –
- Dividend payout –
- Positive free cash flow
- CapEx intensity
- Interest coverage
- Return on tangible assets
- Low reliance on intangibles
- Share dilution (missing share count)
Piotroski F-Score
Serious financial concerns
Earnings Quality
Low quality: investigate accounting
Share Dilution
Buying back shares. Shareholder friendly
Institutional Holdings
No institutional filings reported for this company.
Governance
Executive Team
| Name | Title | Age |
|---|---|---|
| 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 | - |
Audit Risk
2
Board Risk
4
Compensation Risk
6
Shareholder Rights Risk
9
Part 2 · The price and its context
This part shows how the price has behaved, not whether the company is worth owning. Inside: technical analysis, potential, historical drawdowns, gamma exposure.
Market Reaction Profile
How much WILYY moves, measured on its daily prices.
More volatile than 17% of the tracked stocks (90-day volatility).
- Volatility 30d
- 30.0%
- Volatility 90d
- 23.8%
- Beta vs S&P 500 (1y)
- 0.18Correlation 0.09
- Max drawdown (12m)
- -17.2%
- ATR (14d, % of price)
- 2.85%
Earnings reactions
How WILYY moved around its past quarterly results.
Next earnings release
Nov 4, 2026 · In 11 days · Before the open
EPS estimate: 2.47Revenue estimate: $321M
What usually happens
- Not enough releases with data yet: we have 0, we need at least 4.
Release dates from SEC 8-K filings.
Updated 10/24/2026
Historical statistics for educational purposes only. They are not forecasts and not investment advice.
Price reaction to the news
Latest news on WILYY and what the price did next.
Return of the stock minus return of SPY over the same days. A news item close to a price move did not necessarily cause it. Historical data for educational purposes only, not investment advice.
Latest News
Recent headlines for WILYY.