The Morningstar Denmark Index fell 4.10% in the third quarter amid a struggle in the utilities sector. The index tracks the performance of the top 97% of the Danish investable universe by market cap, and each quarter, we screen it for the best- and worst-performing companies. Data in this article is sourced from Morningstar Direct.
The Best-Performing Stocks of Q3 2026
The Worst-Performing Stocks of Q3 2026
Metrics for the Best-Performing Stocks
Torm TRMD A
- Sector: Energy
- Industry: Oil & Gas Midstream
- Economic Moat: Not Rated
Torm soared 60.41% in the third quarter, leaving the stock up 123.06% for the past year. The company’s stock has a quantitative Morningstar Rating of 3 stars.
A.P. Moller - Maersk MAERSK B
- Sector: Industrials
- Industry: Marine Shipping
- Economic Moat: None
A.P. Moller - Maersk climbed 52.18% in the third quarter, leaving shares up 95.00% for the past year. A.P. Moller - Maersk has a Morningstar Rating of 1 star, with its stock trading at a 79% premium to its fair value estimate of DKK 13,200.00.
Schouw & Co SCHO
- Sector: Industrials
- Industry: Conglomerates
- Economic Moat: Not Rated
Schouw & Co surged 36.76% in the third quarter, leaving the stock up 38.40% for the past year. The company’s stock has a quantitative Morningstar Rating of 3 stars.
Genmab GMAB
- Sector: Healthcare
- Industry: Biotechnology
- Economic Moat: Narrow
Genmab soared 30.52% in the third quarter, leaving the stock up 21.38% for the past year. The company’s stock has a Morningstar Rating of 4 stars and trades at a 12% discount to the fair value estimate of DKK 2,650.00.
GN Store Nord GN
- Sector: Healthcare
- Industry: Medical Devices
- Economic Moat: None
GN Store Nord jumped 26.91% in the third quarter, leaving the stock up 2.97% for the past year. The company’s stock has a Morningstar Rating of 3 stars, trading near its fair value estimate of DKK 112.00.
Metrics for the Worst-Performing Stocks
DSV DSV
- Sector: Industrials
- Industry: Integrated Freight & Logistics
- Economic Moat: Narrow
DSV dropped 24.60% in the third quarter, leaving the stock down 7.35% for the past year. Shares were 38.96% lower than their last high on Feb. 9, 2026. The company’s stock has a Morningstar Rating of 4 stars and trades at a 26% discount to the fair value estimate of DKK 1,580.00.
ALK-Abello ALK B
- Sector: Healthcare
- Industry: Biotechnology
- Economic Moat: Not Rated
ALK-Abello tumbled 18.76% in the third quarter, leaving shares down 4.22% for the past year. Shares were 26.90% below the last high on June 12, 2026. ALK-Abello has a quantitative Morningstar Rating of 3 stars.
Novo Nordisk NOVO B
- Sector: Healthcare
- Industry: Drug Manufacturers - General
- Economic Moat: Wide
Novo Nordisk dropped 18.50% in the third quarter, leaving the stock down 23.12% for the past year. Shares were 38.24% lower than their last high on Jan. 23, 2026. The company’s stock has a Morningstar Rating of 3 stars and trades at an 8% discount to the fair value estimate of DKK 275.00.
NKT NKT
- Sector: Industrials
- Industry: Electrical Equipment & Parts
- Economic Moat: Not Rated
NKT decreased 9.79% in the third quarter, but shares were still up 42.50% over the past year. Shares were 22.42% below the last high on May 26, 2026. NKT has a quantitative Morningstar Rating of 3 stars.
Ørsted ORSTED
- Sector: Utilities
- Industry: Utilities - Renewable
- Economic Moat: None
Ørsted fell 7.81% in the third quarter, while shares were still up 19.02% for the past year. Shares were 21.40% below their last high on May 6, 2026. The company’s stock has a Morningstar Rating of 3 stars, trading at a 15% discount to its fair value estimate of DKK 160.00.
Companies not formally covered by a Morningstar analyst are statistically matched to analyst-rated companies, allowing our models to calculate a quantitative star rating.
