olivLaw · European equity research
Gabriel Holding A/S GABR.CO
Denmark · Nasdaq Copenhagen · ISIN DK0060124691 · Vertical: Listed companies from Denmark
Gabriel Holding A/S is a Danish group producing and supplying textiles for office furniture, with operations across three continents. In the first half of fiscal 2025/26 revenue from continuing activities was 263.3 mn DKK, roughly flat, while management expects a difficult pace because of geopolitical risks affecting the furniture market.
At the close of 05 Nov 2026, Gabriel Holding A/S (GABR.CO) stock was 230.00 DKK (+2.68% on the day), with market capitalisation 429.4 m DKK, P/E 57.5 on diluted EPS of 4.00 DKK over the last 12 months, dividend yield 0.00%, beta 0.23, 52-week range 193.00–292.00 DKK.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 54.0
- neutral
- Bollinger (20, 2)
- 212.87 – 234.53
- in the upper half of the band · %B 0.79 · band width 9.7%
- SMA 50 / 200
- 228.04 / 241.53
- mixed trend
- MACD (12, 26, 9)
- -1.21 / -2.09
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | −8.0% | +0.4% | −8.4 pp | — |
| 3 months | −18.4% | −3.3% | −15.2 pp | — |
| 6 months | −10.2% | +4.0% | −14.1 pp | — |
| Year to date | −4.2% | +8.1% | −12.3 pp | — |
| 1 year | −8.7% | +10.7% | −19.4 pp | −5.3% |
| 3 years | −29.0% | +50.1% | −79.1 pp | +3.3% |
| 5 years | −63.7% | +43.6% | −107.3 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 0 percentile of its own 1-quarter history (min 60.0, median 60.0, max 60.0; quarters with earnings only).
Fiscal years
| Fiscal year | 2024 | 2025 |
|---|---|---|
| Revenue | 483.5 m | 516.0 m |
| Revenue YoY | unavailable | +6.7% |
| Net income | -15.7 m | 7.5 m |
| Net income YoY | unavailable | unavailable |
| Diluted EPS | -8.30 | 4.00 |
| Diluted EPS YoY | unavailable | unavailable |
| net % | -3.2% | 1.4% |
| Free cash flow | 23.4 m | 110.8 m |
Balance sheet & financial health
Fiscal year 2025 · 30 Sept 2025
- Cash
- 35.9 m DKK
- Financial debt
- unavailable DKK
- Net debt
- unavailable DKK
- Equity
- 263.7 m DKK
- Total assets
- 745.7 m DKK
- Debt / equity
- unavailable
- Current ratio
- 1.17x
- ROE
- 2.8%
- ROA
- 1.0%
- FCF margin
- 21.5%
Financial statements (source on every figure)
Revenue and net income (DKK)
Margins
Income statement · DKK
| Line | 2024 | 2025 | Source (latest year) |
|---|---|---|---|
| Revenue | 483.5 m | 516.0 m | esef· 16 Dec 2025verified |
| Operating income | 19.7 m | 44.1 m | esef· 16 Dec 2025verified |
| Interest expense | 20.3 m | 17.3 m | esef· 16 Dec 2025verified |
| Income tax | 5.5 m | 9.0 m | esef· 16 Dec 2025verified |
| Net income | -15.7 m | 7.5 m | esef· 16 Dec 2025verified |
| Diluted EPS | -8.30 | 4.00 | esef· 16 Dec 2025verified |
| Dividend per share | 0.00 | 0.00 | esef· 16 Dec 2025derived |
Balance sheet · DKK
| Line | 2024 | 2025 | Source (latest year) |
|---|---|---|---|
| Cash | 26.7 m | 35.9 m | esef· 16 Dec 2025verified |
| Inventories | 116.4 m | 107.5 m | esef· 16 Dec 2025verified |
| Current assets | 500.0 m | 466.7 m | esef· 16 Dec 2025verified |
| Property, plant & equipment, net | — | 173.9 m | esef· 21 Jul 2026verified |
| Goodwill | 27.0 m | 25.8 m | esef· 16 Dec 2025verified |
| Total assets | 777.2 m | 745.7 m | esef· 16 Dec 2025verified |
| Current liabilities | 444.1 m | 399.7 m | esef· 16 Dec 2025verified |
| Total liabilities | 515.6 m | 482.0 m | esef· 16 Dec 2025verified |
| Equity | 261.6 m | 263.7 m | esef· 16 Dec 2025verified |
| Shares outstanding at year end | 1.9 m | 1.9 m | esef· 21 Jul 2026derived |
Cash flow · DKK
| Line | 2024 | 2025 | Source (latest year) |
|---|---|---|---|
| Operating cash flow | 37.3 m | 119.7 m | esef· 16 Dec 2025verified |
| Capex | 13.9 m | 8.9 m | esef· 16 Dec 2025verified |
| Free cash flow | 23.4 m ≈ | 110.8 m ≈ | esef· 16 Dec 2025derived |
| Investing cash flow | -20.9 m | -14.9 m | esef· 16 Dec 2025verified |
| Financing cash flow | -15.9 m | -78.8 m | esef· 16 Dec 2025verified |
| Dividends paid | 0 | 0 | esef· 16 Dec 2025verified |
| Share repurchases | — | 0 | esef· 21 Jul 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- score weight coverage: 52.1% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 429.4 m DKK
Key indicators
Coverage and freshness
Score by group
52% · Insufficient data
Estimated value range
unavailable — no valuation assumptions for the reporting currency
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
Assumptions (illustrative, editorial)
- Risk-free rate
- 6.5%
- Equity risk premium
- 6.0%
- Beta (default)
- 1.00
- Cost of equity
- 12.5%
- Terminal growth
- 3.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 52.1% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 1.4% | 39 (vs peers) | 12% |
| FCF conversion · Quality | 1,484.1% | 100 (on a fixed band) | 12% |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 2.6x | 16 (on a fixed band) | 12% |
| Current ratio · Balance sheet | 1.2x | 34 (on a fixed band) | 8% |
| P/E (TTM) · Valuation | 57.5x | 14 (vs peers) | 20% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 25.8% | 100 (on a fixed band) | 16% |
| Shareholder yield (distributions) · Returns | 0.0% | 0 (on a fixed band) | 12% |
| Payout ratio (FCF) · Returns | 0.0% | 100 (on a fixed band) | 8% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet23/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality70/100 · 2/3 factors with a value
- Returns40/100 · 2/2 factors with a value
- Valuation52/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Gabriel Holding A/S (GABR.CO). Latest full fiscal year: 2025; data up to 2026-03-31.
Figures computed from the financial statements: revenue 516.0 m DKK in 2025; YoY growth 6.7%; net margin 1.4%; ROE 2.8%.
The estimated value range is 36.85–58.78 DKK per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 52.31 DKK, the price of 230.00 DKK leaves a potential of -77.3% (value / price − 1) and a margin of safety of -339.7% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (score weight coverage: 52.1% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF conversion: 1,484.1%
- FCF yield: 25.8%
- Payout ratio (FCF): 0.0%
What contradicts it
- Interest coverage: 2.6x
- P/E (TTM): 57.5x
- Shareholder yield (distributions): 0.0%
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): ROIC, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, EV/EBITDA.
Versus the vertical median
Listed companies from Denmark · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| DEMANT.CODemant A | 79.7 bn | 51.6 | 15.0% | 6.7% | +2.5% | +72% / +30% |
| PNDORA.COPandora A | 68.8 bn | 13.2 | 133.4% | 16.1% | unavailable | +16% / −3% |
| NEWCAP.CONewcap Holding A | 65.3 bn | 13,125.0 | 29.1% | 41.6% | −99.9% | +121% / +62% |
| ISS.COIss A | 50.8 bn | 19.8 | 27.7% | 3.1% | +1.1% | +43% / +158% |
| BAVA.COBavarian Nordic A | 19.2 bn | 13.9 | 10.9% | 22.0% | unavailable | +33% / +47% |
| GN.COGn Store Nord A | 18.1 bn | 27.7 | 6.3% | 6.8% | unavailable | +20% / −23% |
| NETC.CONetcompany Group A | 16.8 bn | 66.2 | 7.2% | 3.3% | unavailable | +11% / +64% |
| BIOMAR.COBiomar Group A | 12.1 bn | 16.9 | 28.3% | 4.3% | −0.5% | unavailable / unavailable |
| JDAN.COJeudan A | 11.1 bn | 11.1 | 7.7% | 57.1% | unavailable | +2% / −7% |
| DFDS.CODfds A | 8.7 bn | — | -0.2% | -0.1% | +1.9% | +73% / −25% |
| GUBRA.COGubra A | 4.8 bn | 2.9 | 149.6% | 64.1% | +892.2% | −40% / +157% |
| MATAS.COMatas A | 3.1 bn | 12.9 | 6.6% | 2.8% | +4.7% | −31% / −21% |
| CBRAIN.COCbrain A | 2.4 bn | 54.7 | 13.8% | 17.2% | −6.2% | −21% / −52% |
| BO.COBang & Olufsen A | 1.7 bn | — | -10.0% | -4.3% | −3.3% | −24% / +12% |
| COLUM.COColumbus A | 1.2 bn | 84.0 | 2.0% | 0.9% | unavailable | −5% / +30% |
| NNIT.CONnit A | 1.0 bn | — | -3.0% | -1.3% | −3.4% | −16% / −54% |
| NORTHM.CONorth Media A | 873.1 m | 13.2 | 5.5% | 5.1% | −0.4% | +11% / −16% |
| FFARMS.COFirstfarms A | 789.8 m | — | -2.3% | -5.4% | −16.5% | −9% / −1% |
| HUSCO.COHusCompagniet A | 507.2 m | — | -1.3% | -0.9% | +28.7% | −41% / −46% |
| BIOPOR.COBioporto A | 456.2 m | — | -117.6% | -203.8% | +11.2% | −8% / −53% |
| GABR.COGabriel Holding A | 429.4 m | 57.5 | 2.8% | 1.4% | +6.7% | −10% / −29% |
| GREENM.COGreenMobility A | 392.5 m | 11.9 | 74.3% | 21.5% | +20.0% | −19% / +91% |
| EGNETY.COEgnsinvest Ejendomme Tyskland A | 320.0 m | 13.0 | 4.0% | 40.9% | −2.6% | −21% / +11% |
| PFINV.COPapirfabrikken Invest A | 300.9 m | 13.5 | 5.4% | 29.7% | +0.9% | −3% / +36% |
| CEMAT.COCemat A | 213.9 m | 3.5 | 28.7% | 37.5% | +318.0% | −9% / +3% |
1- and 3-year price returns: for GABR.CO from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (DKK)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 138.98 Total return -40% · Per year -40% | 245.45 Total return 7% · Per year 7% | 369.37 Total return 61% · Per year 61% |
| 3 years | 140.97 Total return -39% · Per year -15% | 279.55 Total return 22% · Per year 7% | 461.02 Total return 100% · Per year 26% |
| 5 years | 142.99 Total return -38% · Per year -9% | 318.38 Total return 38% · Per year 7% | 575.41 Total return 150% · Per year 20% |
- Exit P/E± 69.89
- Net margin± 48.92
- Annual revenue growth± 39.32
- Annual dilution± 4.11
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Gabriel Holding A/S is a Danish group producing and supplying textiles for office furniture, with operations across three continents. In the first half of fiscal 2025/26 revenue from continuing activities was 263.3 mn DKK, roughly flat, while management expects a difficult pace because of geopolitical risks affecting the furniture market.
SWOT
Strengths
- A consolidated position in the global market for office furniture textiles, with direct relationships with leading manufacturers and an international showroom network.
- Stable gross margin and positive operating cash flow in the first half, giving financial flexibility.
- A focus on sustainable products and innovation in textiles that supports differentiation from competitors.
Weaknesses
- Dependence on one main segment, textiles, makes results sensitive to demand in the furniture industry.
- The FurnMaster activity fell sharply and was discontinued, which weighed on the group's total result.
- Bank debt and financing costs remain a burden, although they have declined recently.
Opportunities
- If demand in Europe and Asia recovers, higher sales could support results from continuing activities.
- Expanding sales and marketing teams could open new relationships with architects, designers and distributors.
- Growing demand for sustainable materials in office furniture could favour the group's products.
Threats
- Geopolitical risks could prolong the difficult period for the furniture market and for the group's customers.
- Competition from European and American producers could pressure prices and margins.
- Currency fluctuations may affect results, given that the group operates in several markets.
Risks
- Geopolitical riskshigh
Management considers that geopolitical risks will continue to influence office furniture in the rest of the year, which could reduce orders.
- FurnMaster declinehigh
The discontinued activity fell sharply, and adjusting to a lower level could continue to affect results.
- Weaker demand in Europe and Asiamedium
According to the report, demand was affected in Europe and Asia in the second quarter, which could affect revenue from continuing activities.
- Debt and financingmedium
The group carries significant bank debt, and financing costs influence the net result.
- Currency exposurelow
International activity exposes the group to exchange rate fluctuations, which can affect reported results.
Investment thesis
What would need to be true (bull case)
- If the consolidated market position translates into growth in Europe and Asia, revenue and operating result could return to an upward trend.
- Stable gross margin and positive cash flow give room for investment and debt reduction.
- A focus on innovation and sustainable textiles could strengthen relationships with leading clients in the industry.
What would break the thesis
- If geopolitical risks persist, demand for office furniture could stay weak, pressuring sales.
- The decline of the FurnMaster activity shows the restructuring is not yet complete and could weigh on the total result.
- Debt and financing costs could limit the group's capacity to invest in growth.
What to watch
- Delivery against the guidance for revenue and EBIT from continuing activities versus the announced rangeAnnual report 2025/26
- Development of demand in Europe and Asia after the second quarterQ3 2025/26
- Completion of the FurnMaster restructuring and its effect on the total resultAnnual report 2025/26
- Level of bank debt and financing costsAnnual report 2025/26
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
The group develops and sells textiles for furniture makers serving workplaces, through direct relationships with leading manufacturers in the industry and through architects, designers and distributors. Textiles are the main segment, while office rental is much smaller. Dyeing and finishing operations are partly carried out through a 49% owned associate in Lithuania.
The FurnMaster activity, which has been discontinued and is treated as a discontinued operation, fell sharply in the half-year, contributing to a total net result lower than that of continuing activities. The company has adjusted this activity to a lower activity level by completing certain customer contracts.
Segments
Office rental
The office rental segment is small compared with textiles and produced EBIT of 1.1 mn DKK in the same half-year, with a limited contribution to group results.
Market context
Management describes the office furniture market as difficult, with impact from geopolitical risks. The company considers that its own revenue development is above the general trend of the global market for professional furniture, which points to a strengthened position, although the market remains under pressure.
Demand was relatively stable in the US, while it declined in Europe and Asia in the second quarter, and geopolitical risks remain the main factor that could influence volumes in the rest of the year.
Trends
- Geopolitical tensionsheadwind
Management expects geopolitical risks to continue to affect the furniture market in the rest of the fiscal year, which could limit demand in some regions.
- US growthtailwind
The North American market showed a slightly rising trend, which supports textile revenue in that region.
- FurnMaster restructuringmixed
Reducing FurnMaster activity and adjusting to a lower level weighs on the total result, although the main segment remains stable.
- Investment in sales and productsmixed
Sector companies expanding sales teams and product development could gain market share if demand recovers.
Competitive position
Gabriel operates in a global market for textiles and professional furniture, where competition comes from specialised textile producers and integrated furniture suppliers. The company differentiates itself through direct relationships with leading manufacturers, global showrooms and the development of sustainable textiles.
Competitive pressure is felt particularly in Europe and Asia, where demand has declined, and the group's advantage depends on its ability to maintain gross margins and convert sales into operating profit.
- SteelcaseSCS
American office furniture maker and competitor in the professional furniture segment for which Gabriel supplies textiles.
- HNI CorporationHNI
American office furniture maker whose products use contract textiles, so a possible competitor or partner.
- MillerKnollMLKN
American design furniture group active in the workplace segment and competing for the same industry clients.
- European textile producers for furniture
European makers of furniture textiles that compete directly in European markets where Gabriel has an important presence.
News & filings
In the press
- Bursă. Gabriel Ţecheră, TTS: Suntem într-o poziţie foarte confortabilă pentru investiţii finanţate din credite bancare şi nu avem în vizor piaţa de capital. Pentru 2026, compania vizează o creştere de circa 70% a EBITDAZiarul Financiar · 05 Nov 2026 · RO
- Gabriel-Ioan Avrămescu, Prim-vicepreședintele ASF: ETF-urile pot juca un rol important în dezvoltarea pieței de capital; Potențialul de creștere rămâne ridicatFinancial Intelligence (RO) · 04 Nov 2026 · RO
- Gabriel Avrămescu, la OCDE: Inteligența artificială nu poate înlocui educația financiară și consultanța oferită de un specialist autorizatFinancial Intelligence (RO) · 03 Nov 2026 · RO
- Noul secretar general al Guvernului, Gabriel Ciprian Ene, a demisionat din funcția de magistrat-asistent-șef la Înalta Curte înainte de a prelua noua funcție (precizare ICCJ)G4Media · 02 Nov 2026 · RO
- Gabriel-Ciprian Ene, noul secretar general al Guvernului, a demisionat de la ICCJAntena 3 CNN · 30 Oct 2026 · RO
- Consilierul prezidenţial Marius-Gabriel Lazurca: Susţinem o prezenţă militară mai puternică a Statelor Unite în România - TVRInfo.roSurge — Google News · 30 Oct 2026 · RO
- Consilierul prezidențial Marius-Gabriel Lazurca: Susținem o prezență militară mai puternică a Statelor Unite în RomâniaAgerpres · 30 Oct 2026 · RO
- Gabriel Toncean, reconfirmat în funcția de director executiv al Federației Internaționale de Culturism și Fitness pentru încă patru aniMediafax · 30 Oct 2026 · RO
- Gabriel Toncean a fost reales în funcția de Director Executiv al Federației Internaționale de Culturism și Fitness (IFBB)Agerpres · 30 Oct 2026 · RO
- Edouard Philippe și Gabriel Attal, împotmoliți într-o campanie prezidențială anevoioasă, încearcă să recupereze pierderea de influențăG4Media · 30 Oct 2026 · RO
- Gabriel-Ciprian Ene, numit secretar general al Guvernului. Cine este noul om cheie din interiorul Executivului - Realitatea.NETSurge — Google News · 30 Oct 2026 · RO
- Gabriel-Ciprian Ene – numit secretar general al Guvernului; îşi va începe mandatul pe 2 noiembrieFinancial Intelligence (RO) · 30 Oct 2026 · RO
- Gabriel Ene numit secretar general al Guvernului. Toni Neacșu și Alexandru Dimitriu invocă încălcarea legii - Cotidianul ROSurge — Google News · 30 Oct 2026 · RO
- Toni Neacșu, fost membru CSM, contestă numirea lui Gabriel-Ciprian Ene la Guvern. Ce prevede legea - Evenimentul ZileiSurge — Google News · 30 Oct 2026 · RO
- Cine este Gabriel-Ciprian Ene, noul secretar general al Guvernului. Numirea sa a stârnit controverse: „A sunat și a capturat și Guvernul”Adevărul · 30 Oct 2026 · RO
- Premierul Luca Niculescu l-a numit în funcția de secretar general al Guvernului pe Gabriel-Ciprian Ene - PRESShubSurge — Google News · 30 Oct 2026 · RO
- Cine este Gabriel Ciprian Ene, noul secretar general al Guvernului. Ce trecut politic are și cine este soția sa: Are legături cu PSD - Oficiul de ȘtiriSurge — Google News · 29 Oct 2026 · RO
- Gabriel-Ciprian Ene, magistrat-asistent la Înalta Curte de Casaţie şi Justiţie, a fost numit secretar general al Guvernului - QWER.roSurge — Google News · 29 Oct 2026 · RO
- Premierul Luca Niculescu l-a numit pe Gabriel-Ciprian Ene în funcţia de secretar general al GuvernuluiAntena 3 CNN · 29 Oct 2026 · RO
- Gabriel-Ciprian Ene, magistrat-asistent la Înalta Curte de Casaţie şi Justiţie, a fost numit secretar general al GuvernuluiDigi24 · 29 Oct 2026 · RO
Annual reports (ESEF)
- Annual report 202621 Jul 2026
- Annual report 202516 Dec 2025
Sources
- [1] Annual report, fiscal year ended 2026-03-31 (ESEF) · SEC / Gabriel Holding A/S · 31 Mar 2026
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.