Valuation Carlsberg A/S

Stocks

Market Closed - Nasdaq Copenhagen Other stock markets 08:50:00 17/07/2026 pm IST			5-day change	1st Jan Change
926.80 ^DKK	-0.86%		+0.67%	+10.97%

12:57pm	Take Five: Lagarde, Google and Messi chase their goals	RE
09/07	Bernstein raises Carlsberg target price to 1,560 Danish kroner (1,470), reiterates outperform - BN	FW

Data adjusted to current consolidation scope

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Market Cap ¹	1,63,149	1,33,594	1,22,775	95,313	1,13,844	1,29,513	-	-
Change	-	-18.12%	-8.1%	-22.37%	19.44%	13.76%	-	-
Enterprise Value (EV) ¹	1,82,311	1,52,920	1,45,126	1,22,670	1,75,461	1,83,967	1,80,059	1,76,668
Change	-	-16.12%	-5.1%	-15.47%	43.03%	4.85%	-2.12%	-1.88%
P/E	23.8x	-121x	-2.83x	10x	18.5x	15.3x	13.7x	12.5x
PBR	3.65x	3.97x	4.89x	3.28x	3.97x	3.52x	3.16x	2.92x
PEG	-	1x	-0x	-0x	-0.5x	0.4x	1.2x	1.2x
Capitalization / Revenue	2.45x	1.9x	1.67x	1.27x	1.28x	1.4x	1.35x	1.3x
EV / Revenue	2.74x	2.18x	1.97x	1.64x	1.97x	1.98x	1.87x	1.77x
EV / EBITDA	11.8x	9.77x	9.56x	7.77x	9.34x	9.23x	8.54x	7.96x
EV / EBIT	16.8x	13.3x	13.1x	10.8x	13.1x	12.7x	11.7x	10.8x
EV / FCF	20.5x	15.5x	29.8x	12.5x	-8.1x	21.7x	19.2x	17.2x
FCF Yield	4.87%	6.46%	3.36%	7.98%	-12.3%	4.6%	5.21%	5.8%
Dividend per Share ²	24	27	27	27	29	31.33	34.14	37.03
Rate of return	2.12%	2.92%	3.19%	3.91%	3.47%	3.35%	3.65%	3.96%
EPS ²	47.4	-7.6	-299.7	68.7	45.1	61.22	68	74.95
Distribution rate	50.6%	-355%	-9.01%	39.3%	64.3%	51.2%	50.2%	49.4%
Net sales ¹	66,634	70,265	73,585	75,011	89,095	92,799	96,239	99,779
EBITDA ¹	15,474	15,657	15,179	15,781	18,784	19,937	21,078	22,188
EBIT ¹	10,862	11,470	11,105	11,411	13,356	14,494	15,442	16,360
Net income ¹	6,846	-1,063	-40,788	9,116	5,955	8,111	9,049	9,898
Net Debt ¹	19,162	19,326	22,351	27,357	61,617	54,454	50,545	47,155
Reference price ²	1,129.50	923.20	846.80	690.00	835.20	934.80	934.80	934.80
Nbr of stocks (in thousands)	1,41,892	1,37,341	1,34,114	1,32,079	1,32,079	1,32,172	-	-
Announcement Date	04/02/22	07/02/23	07/02/24	06/02/25	04/02/26	-	-	-

¹DKK in Million²DKK

Estimates

Add to a list 0 selected To use this feature you must be a member Log in Sign up	P/E (Y)	EV / Sales (Y)	EV / EBITDA (Y)	Dividend Yield (Y)	Capi.($)
CARLSBERG A/S	15.27x	1.99x	9.25x	3.35%	1.99TCr
ANHEUSER-BUSCH INBEV SA/NV	17.23x	3.36x	9.3x	1.78%	16TCr
AMBEV S.A.	15.04x	2.43x	7.19x	6.12%	4.75TCr
HEINEKEN N.V.	16.67x	1.88x	8.33x	2.64%	4.72TCr
CONSTELLATION BRANDS, INC.	11.39x	3.69x	9.91x	3.05%	2.32TCr
ASAHI GROUP HOLDINGS, LTD.	17.02x	1.24x	8.92x	3.2%	1.43TCr
KIRIN HOLDINGS COMPANY, LIMITED	13.19x	1.21x	8.46x	2.68%	1.4TCr
TSINGTAO BREWERY COMPANY LIMITED	15.07x	1.48x	6.97x	4.62%	928.73Cr
Average	15.11x	2.16x	8.54x	3.43%	4.16TCr
Weighted average by Cap.	16.07x	2.73x	8.78x	2.88%