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Flags

Financial distress

Carlsberg

CPH:CARL B · DK0010181759
BeveragesX-Large

360

38
EV / EBIT52
Price / Owner Earnings64
Owner Earnings Yield55
Dividend Yield59
Price/Sales47
EV / Gross Profit62
Price/Book16
Return on Capital49
Cash Return on Capital49
Return on Equity72
EBIT Margin43
Gross Profitability37
Cash Conversion80
Accruals3
Owner Earnings Margin47
Sales growth43
Profit Growth89
Long-Term EPS Growth74
Owner Earnings Growth23
Reinvestment85
Price momentum36
Debt load11
Refinancing8
Debt Payback14
Liquidity43
Analyst ratings57
Opinion Changes50
Price Target Upside69
Market mood61
Value Creation16/20strong value creator
  • Creates more value than its capital costs
  • Owner earnings growing
  • Owner earnings per share growing
  • Reinvests at strong returns
  • Solid earnings base

What this means

Carlsberg generates returns well above its cost of capital, the foundation of durable shareholder value.

Profile

CountryDenmark
IndustryBeverages
SizeX-Large
TypePublic Company
ExchangeCPSE
Employees7,137
ISINDK0010181759
Last UpdateApr 2, 2026
Themes
Distillery

Description

Carlsberg A/S is a global brewing company. The company is renowned as one of the largest brewers in the world, particularly famous for its Carlsberg and Tuborg beer brands. The company operates across various markets, offering a diverse range of bee…

Analysis

Middle-of-the-road

Carlsberg A/S is a middle-of-the-road business: neither the economics nor the price stand out from the peer group.

The price is fair. You pay 19.9× its owner earnings: the cash an owner could take out each year, which is in the historically fair zone. At today's price, the market is assuming roughly 6% yearly growth; analysts expect 10%. The price, in other words, assumes less than the experts do.

The trajectory is moderate and the balance sheet is stretched. The company scores 16/20 on our value-creation score: strong value creator.

Nothing is flagged here: no red or amber gates, no divergence between profits and cash. That is itself information: the numbers are straightforward. As always: this describes the company's numbers; it is not a recommendation.

360° rank · history

1007550250
21
2023202420252026

All-time high

57

Sep 2025

All-time low

10

Jan 2025

Average rank

32

across all years

Detailed & Historical Ranks

Deep dive into 15 detailed ranks and 3 years of history.

Current202520242023
Price/Sales
47
27
20
22
Price/Earnings
25
19
25
19
Price/Book
16
11
15
17
Dividend Yield
59
68
73
57
Value (overall)
25
31
29
26

Cells are coloured by rank band (red weak → green strong). Sentiment & 360° history begins 2023.

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Make Sense of the Ranks

Every rank runs 1–100 against true peers. Higher is always better.

360° View
1 · Watch OutGood· 100
Value
1 · ExpensiveGood Value· 100
Quality
1 · Weak FundamentalsHigh Quality· 100
Growth
1 · Tough TimesHigh Growth· 100
Safety
1 · High LeverageWell-Financed· 100
Sentiment
1 · SkepticismPositive· 100
Learn More →