Pandora (CPH: PNDORA) financial statements

The consolidated income statement, balance sheet and cash flow statement of Pandora for its last 7 fiscal years, as filed with the regulator, in millions of Danish kroner. At the end of fiscal 2025 it had DKK 29,603m in total assets and DKK 5,282m in equity.

Income statement

Item	2025	2024	2023	2022	2021	2020	2019
Revenue	DKK 32,549m	DKK 31,680m	DKK 28,136m	DKK 26,463m	DKK 23,394m	DKK 19,009m	DKK 21,868m
Cost of sales	DKK 6,802m	DKK 6,391m	DKK 6,012m	DKK 6,273m	DKK 5,590m	DKK 4,634m	DKK 5,966m
Gross profit	DKK 25,747m	DKK 25,289m	DKK 22,125m	DKK 20,190m	DKK 17,803m	DKK 14,375m	DKK 15,903m
Operating profit	DKK 7,783m	DKK 7,974m	DKK 7,039m	DKK 6,743m	DKK 5,839m	DKK 2,684m	DKK 3,829m
Finance costs	DKK 1,149m	DKK 1,297m	DKK 1,056m	DKK 622.0m	DKK 613.0m	DKK 507.0m	DKK 351.0m
Profit before tax	DKK 6,913m	DKK 6,926m	DKK 6,234m	DKK 6,533m	DKK 5,378m	DKK 2,494m	DKK 3,829m
Income tax	DKK 1,671m	DKK 1,699m	DKK 1,494m	DKK 1,504m	DKK 1,218m	DKK 556.0m	DKK 884.0m
Net profit	DKK 5,241m	DKK 5,227m	DKK 4,740m	DKK 5,029m	DKK 4,160m	DKK 1,938m	DKK 2,945m
Earnings per share	DKK 68.10	DKK 64.80	DKK 55.50	DKK 54.20	DKK 42.10	DKK 20.00	DKK 30.30
Diluted earnings per share	DKK 67.90	DKK 64.60	DKK 55.10	DKK 53.70	DKK 41.70	DKK 19.90	DKK 30.10

Balance sheet

Item	2025	2024	2023	2022	2021	2020	2019
Total assets	DKK 29,603m	DKK 27,758m	DKK 23,798m	DKK 22,013m	DKK 18,542m	DKK 19,984m	DKK 21,571m
Current assets	DKK 10,226m	DKK 9,226m	DKK 7,998m	DKK 7,731m	DKK 5,988m	DKK 6,972m	DKK 6,565m
Inventories	DKK 4,883m	DKK 4,426m	DKK 4,166m	DKK 4,211m	DKK 2,991m	DKK 1,949m	DKK 2,137m
Property, plant and equipment	DKK 3,817m	DKK 3,475m	DKK 2,746m	DKK 2,226m	DKK 1,816m	DKK 2,054m	DKK 2,585m
Goodwill	DKK 5,020m	DKK 5,126m	DKK 4,914m	DKK 4,822m	DKK 4,418m	DKK 4,247m	DKK 4,416m
Cash	DKK 1,194m	DKK 2,303m	DKK 1,183m	DKK 595.0m	DKK 1,043m	DKK 2,912m	DKK 1,054m
Total liabilities	DKK 24,321m	DKK 22,250m	DKK 18,443m	DKK 14,846m	DKK 11,541m	DKK 12,595m	DKK 16,322m
Current liabilities	DKK 11,252m	DKK 9,877m	DKK 8,053m	DKK 11,181m	DKK 8,246m	DKK 9,790m	DKK 7,846m
Equity	DKK 5,282m	DKK 5,508m	DKK 5,355m	DKK 7,167m	DKK 7,001m	DKK 7,389m	DKK 5,249m
Equity including minorities	DKK 5,282m	DKK 5,508m	DKK 5,355m	DKK 7,167m	DKK 7,001m	DKK 7,389m	DKK 5,249m

Cash flow statement

Item	2025	2024	2023	2022	2021	2020	2019
Operating cash flow	DKK 7,361m	DKK 8,721m	DKK 7,384m	DKK 4,434m	DKK 6,228m	DKK 5,975m	DKK 6,775m
Investing cash flow	−DKK 2,286m	−DKK 1,889m	−DKK 1,800m	−DKK 1,785m	−DKK 631.0m	−DKK 484.0m	−DKK 877.0m
Financing cash flow	−DKK 6,119m	−DKK 5,701m	−DKK 4,935m	−DKK 3,100m	−DKK 7,484m	−DKK 3,571m	−DKK 6,250m
Capital expenditure	DKK 1,449m	DKK 1,336m	DKK 1,129m	DKK 838.0m	DKK 296.0m	DKK 374.0m	DKK 540.0m
Dividends paid	DKK 1,567m	DKK 1,471m	DKK 1,412m	DKK 1,514m	DKK 1,479m	DKK 825.0m	DKK 1,756m

Where each figure comes from

From the annual report Pandora files every year in the European single electronic format (ESEF). The filing for each fiscal year: 2025 · 2024 · 2023 · 2022 · 2021 · 2020. If an item is not tagged in the filing, it is not in the table. The summary of the last fiscal year is on the Pandora page.

Information prepared from the accounts the company files with the regulator, for information purposes only. It is not financial advice or a recommendation to buy or sell. Updated on 12 November 2026.