Rankings Transport & logistics GreenMobility
GreenMobility
66
15070100
A view of the same findings, not a new score. How it works
A good business with a real question mark: the price, a crack, or both.
Biggest deductions
- Quality of growth−4
- Moat and competition−4
- One city and regulation−4
Strengths
- Buybacks below FCF+1
- Robotaxi partnership+1
How the score is built
From 100 to 66, step by step: points off for the business, the price and the cracks, back for documented strengths, then three data adjustments.
Start
Score
Hover or select a step to see what drove it. Steps with findings open them below.
Key numbers
As of 3 Nov 2026. Analyst targets tend to be optimistic; read upside as a hint, not a forecast.
- Price
- 64.60 DKK
- Median analyst target
- –
- Upside to median
- –
- Analysts
- none
- Target range
- –
- 52-week change
- −24%
- P/E (trailing)
- 9.6
- Forward P/E
- n/a
- PEG
- n/a
Findings
Every deduction and every plus, with its source. Open a step to read them.
Business
Is the company getting stronger, not just bigger? · 4 findings−13 of −30
- −2Margin and earnings qualityEBIT margin is 16.9% TTM and EBITDA margin 37% in H1 2026, but the company has only made money since 2024 after losses of DKK 49–77m a year in 2021–2023. Net result is inflated by a deferred tax asset (23.4m), and P/E adjusted for that is about 25x for 2025.
- −4Quality of growthGrowth has slowed sharply: +70% in 2024, +20% in 2025, +4% in H1 2026 and +1% in Q2 2026. Revenue guidance for 2026 was cut from 8–12% to 5–9%.
- −4Moat and competitionThe business is concentrated on Copenhagen, where more taxis increase supply, which Inderes calls 'potentially more structural'. Shared cars have low switching costs, and driverless robotaxis could in time undermine the model. Dependence on political support for reserved parking spaces is a risk.
- −3Capital allocationThe share count has risen from 4.42m (2021) to 5.92m (2025), +34%, via several issues, while equity fell from 144m to 2m (2024). Expansions to other European cities were abandoned. Equity is now only 44.6m.
Price
Today's multiples against the company's own history and its peers. · 2 findings−5 of −35
- −2Multiples vs own historyEV/EBITDA is 8.2 vs 17.6 (2025) and 10.7 (2024), and EV/Sales is 2.8 vs 5.5 (2025) and 2.6 (2024). The stock has halved from DKK 125 at the end of 2025, but P/B is still 8 and P/FCF about 14 after lease payments (25m).
- −3PeersInderes states EV/Sales of 3.4x for 2026 vs a peer median of 2.0x, and EV/EBITDA of 9.3x vs a median of 9.2x. GreenMobility is more expensive than peers on sales and in line on EBITDA, despite lower growth now.
Cracks
Cash flow, customers, debt, insiders, guidance and what sits behind the headline numbers. · 4 findings−12 of −35
- −3Guidance downgradeRevenue guidance was cut in July 2026 due to delayed car deliveries (closure of the Strait of Hormuz), road closures on Amager and a delayed platform migration. Q2 revenue grew only 1%.
- −3Leverage and liquidityNet debt is DKK 88m (mostly car leasing), cash only 13.7m, current ratio 0.62 and working capital negative (−22m). 40m in loans and leasing mature within 12 months, and the fleet must be renewed on an ongoing basis with loan financing.
- −4One city and regulationAlmost the entire business is in Copenhagen and depends on municipal parking agreements. Local conditions such as road closures on Amager have directly affected revenue in 2026.
- −2Major shareholder sellingStrategic Investments, the largest shareholder, reduced its stake to below 20% as of 30/10-2025 after having been above 20% since December 2024. The stock has fallen about 51% in 2026.
Plus
Only documented strengths. · 2 findings+2 of +15
- +1Buybacks below FCFBuyback programme of up to DKK 6m (29/5–1/8-2026), financed by FCF after leasing of about 25m TTM. The company says the strategy to 2028 can be financed within the current capital structure.
- +1Robotaxi partnershipPartnership with WeRide (August 2026) on robotaxis in Denmark with public operation targeted for H1 2027, in cooperation with the Danish Road Directorate and the Danish Road Safety Agency. In addition there is a non-binding LOI with Tensor for up to 2,000 robocars.
Caveats
What the score does not capture, or where the data is weak.
No analysts at stockanalysis (forecast 404); Inderes covers the company for a fee. Market cap is calculated as 5.85m shares × DKK 60.2 = DKK 352m (Nordnet: 367m). Net income (39.8m TTM) is lifted by recognition of a deferred tax asset (23.4m on the balance sheet), so P/E 9 at stockanalysis is misleading; Inderes states c. 25x adjusted for 2025. Debt (101.8m) is mainly car leasing (88m). Operating company with positive cash flow, so runway is set to null. The date of the Q3 release was not found. Ownership stakes beyond Strategic Investments (under 20%) and insider trades not found. Short data not found. Industry: 'Transport & logistics' is the closest (electric car sharing).
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