| Valuation method | Value, € | Upside, % |
|---|---|---|
| Artificial intelligence (AI) | 2260.80 | 8 |
| Intrinsic value (DCF) | 230.88 | -89 |
| Graham-Dodd Method | 3427.60 | 64 |
| Graham Formula | 5494.20 | 163 |
A.P. Møller - Mærsk A/S (DP4B.DE) is a global leader in integrated transport and logistics, headquartered in Copenhagen, Denmark. Operating under brands like Maersk Line, Safmarine, and APM Terminals, the company provides end-to-end supply chain solutions, including container shipping, freight forwarding, terminal operations, and cold chain logistics. With a diversified portfolio spanning Ocean, Logistics & Services, Terminals & Towage, and Manufacturing segments, Mærsk serves industries ranging from maritime to offshore wind. Founded in 1904, the company has grown into a cornerstone of global trade, leveraging its vast fleet and terminal network to maintain a dominant position in marine shipping. As part of the Industrials sector, Mærsk plays a critical role in facilitating international commerce, supported by its strong cash flow generation and strategic investments in sustainability and digitalization.
A.P. Møller - Mærsk presents a compelling investment case due to its market leadership in container shipping, diversified logistics operations, and strong cash flow generation (€11.4B operating cash flow in FY 2023). The company’s net income of €6.1B and EPS of €387 reflect robust profitability, while its €6.6B cash reserve provides financial flexibility. However, risks include exposure to volatile freight rates, geopolitical disruptions in global trade lanes, and high capital expenditures (€4.2B in 2023). The dividend yield (~3.5% based on €138.63/share) adds income appeal, but investors should monitor debt levels (€16.5B) and cyclical industry downturns.
Mærsk’s competitive advantage lies in its vertically integrated model, combining ocean shipping with terminal operations and logistics services, which enhances efficiency and customer stickiness. Its scale—operating one of the largest container fleets and a global terminal network (APM Terminals)—provides cost advantages and pricing power. The company has also invested heavily in digital solutions (e.g., Twill Logistics) to streamline supply chains, differentiating it from pure-play carriers. However, competition is intense: Mærsk faces pressure from low-cost Asian carriers like COSCO and agile logistics rivals such as DSV. While its brand reputation and sustainability initiatives (e.g., carbon-neutral shipping pledges) bolster its positioning, overcapacity in the container market and rate wars could erode margins. Its Logistics segment, though growing, still trails leaders like Kuehne + Nagel in profitability.