To the full analysis
Pandora stock: balance sheet and debt
PNDORA.COPandora has a debt to equity ratio of 3.64 and an interest coverage of 8x.
Daily figure as of 13 Nov 2026
Debt / Equity
3.64
Interest coverage
8x
Current ratio
0.91
Cash & equivalents
$193.44M
Total assets
$4.39B
Equity ratio
17.8%
Goodwill
$744.13M
Plus intangible assets of $495.54M
Net debt
$2.66B
Total assets and equity ratio
How large the balance sheet of Pandora A/S is, how much of it is equity and how much is goodwill from acquisitions.
Equity ratio
Figures as a table
| Year | Total assets | Goodwill and intangible assets | of which goodwill | Equity ratio | Net debt |
|---|---|---|---|---|---|
| 2008 | $634.72M | $487.69M | $138.12M | 10.0% | $398.38M |
| 2009 | $862.09M | $524.04M | $179.04M | 28.3% | $318.8M |
| 2010 | $1.33B | $665.57M | $438.32M | 48.2% | $163.35M |
| 2011 | $1.19B | $663.49M | $441.88M | 67.2% | $30.98M |
| 2012 | $1.25B | $665.12M | $284.9M | 71.8% | −$27.13M |
| 2013 | $1.37B | $684.39M | $282.24M | 69.7% | −$94.42M |
| 2014 | $1.56B | $720.26M | $308.32M | 66.6% | −$166.17M |
| 2015 | $1.97B | $807.72M | $359.32M | 46.1% | $254.66M |
| 2016 | $2.24B | $854.71M | $381.11M | 45.0% | $313.36M |
| 2017 | $2.56B | $1.04B | $522.08M | 37.8% | $660.23M |
| 2018 | $2.85B | $1.15B | $634.14M | 33.4% | $782.97M |
| 2019 | $3.2B | $1.1B | $654.6M | 24.3% | $1.33B |
| 2020 | $2.96B | $1.03B | $629.55M | 37.0% | $466.93M |
| 2021 | $2.75B | $1.05B | $654.89M | 37.8% | $427.36M |
| 2022 | $3.26B | $1.12B | $714.78M | 32.6% | $1.01B |
| 2023 | $3.53B | $1.16B | $728.42M | 22.5% | $1.45B |
| 2024 | $4.11B | $1.22B | $759.84M | 19.8% | $1.63B |
| 2025 | $4.39B | $1.24B | $744.13M | 17.8% | $2.66B |
The equity ratio divides total equity, including non-controlling interests, by total assets. Net debt is debt minus cash and short-term investments; a negative figure means cash exceeds debt.
Equity and debt
What the company owns and owes
- Cash & equivalents
- Equity
- Debt
Figures as a table
| Year | Cash & equivalents | Equity | Debt | Debt / Equity |
|---|---|---|---|---|
| 2008 | $45.19M | $63.38M | $443.57M | 7 |
| 2009 | $122.17M | $215.08M | $440.97M | 1.8 |
| 2010 | $181.44M | $639.62M | $344.79M | 0.54 |
| 2011 | $26.09M | $802.09M | $57.07M | 0.07 |
| 2012 | $50.55M | $895.03M | $23.42M | 0.03 |
| 2013 | $101.69M | $957.88M | $7.26M | 0.01 |
| 2014 | $167.65M | $1.04B | $1.48M | 0 |
| 2015 | $131.78M | $910M | $386.44M | 0.42 |
| 2016 | $132.96M | $1.01B | $446.33M | 0.44 |
| 2017 | $147.2M | $965.59M | $807.42M | 0.84 |
| 2018 | $205.6M | $951.51M | $988.57M | 1.04 |
| 2019 | $156.24M | $778.07M | $1.49B | 1.91 |
| 2020 | $431.65M | $1.1B | $898.59M | 0.82 |
| 2021 | $154.61M | $1.04B | $581.96M | 0.56 |
| 2022 | $117.7M | $1.06B | $1.12B | 1.06 |
| 2023 | $207.08M | $793.79M | $1.66B | 2.09 |
| 2024 | $354.87M | $816.47M | $1.99B | 2.43 |
| 2025 | $193.44M | $782.97M | $2.85B | 3.64 |
Debt to equity divides debt by total equity, including non-controlling interests, as S&P calculates it. The equity column shows the part that belongs to shareholders.
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Currency
- Amounts in US dollars, converted at the ECB reference rate of 12 Nov 2026 ($1 = DKK 6.7461)
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Strong, published since 7 Nov 2026 (in the score history since 1 May 2026)
- Valuation signal Fairly valued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.