Added to YB: 2026-04-27
Pitch date: 2026-04-23
PNDORA.CO [neutral]
Pandora A/S
-1.18%
current return
Author Info
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Company Info
Pandora A/S engages in the design, crafting, and marketing of jewelry worldwide. The company operates in two segments, Core and Fuel With More.
Market Cap
DKK 35.3B
Pitch Price
DKK 492.30
Price Target
1.2K (+152%)
Dividend
4.40%
EV/EBITDA
4.70
P/E
7.37
EV/Sales
1.51
Sector
Textiles, Apparel and Luxury Goods
Category
turnaround
Pandora | Down 60% with 150%+ Upside
PNDORA.CO (pass): World's largest jewelry co by volume, >100M pieces/yr, 35%+ avg ROIC since 2008. Down 60% on slowing growth (2.75% 2025, 1% guided 2026) & margin compression (25% 2024 → 21-22% 2026 → 12%+ 2027). Silver prices +170% driving 6.2% EBIT headwind despite shift to platinum; tariffs add 0.5%+ drag. New CEO pivoting to design-led strategy, earned media vs TV ads; Talisman launch showed promise. Base case: flat 2026, 5% growth to 2029, 20% EBIT margin → 33.5% IRR at 15x EV/EBIT. Pass on low conviction in product design execution despite strong setup.
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