1. Denmark Stocks

  2. •

    Consumer Defensive

  3. •

    Beverages - Alcoholic
Carlsberg A/S

Carlsberg A/S

CARL-A.CO
Carlsberg A/SDK flagNASDAQ Copenhagen
1,020.00
DKK
-15.00
- -
134.82BMarket Cap
Carlsberg A/S
CARL-A.CO
(NASDAQ Copenhagen)

Recent

price

1,020.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
393.67
416.69
435.73
421.83
422.89
428.43
410.43
397.75
410.05
438.15
400.68
417.78
502.49
540.71
565.58
- -
428.6
Revenue per Share
39.07
33.76
36.76
35.86
28.94
-19.18
29.41
8.26
34.83
43.67
41.27
47.59
-7.6
-299.72
68.73
- -
-19.19
Basic EPS, GAAP
50.1
57.54
64.67
53.26
48.42
65.94
61.02
77.6
78.97
81.34
44.71
58.22
63.87
54.11
47.37
- -
65.97
Free Cash Flow per Basic Share
- -
5
5.5
6
8
9
9
10
16
18.2
21.17
22.16
24.24
27.15
27.15
- -
- -
Dividend per Share
467.42
489.1
503.05
535.58
547.04
517.47
526.44
527.33
538.87
512.6
548.46
578.3
526.43
191.44
213.13
- -
20.01
Book Value per Share
-118.93
-114.15
-115.15
-152.31
-173.15
-168.41
-151.33
-119.79
-124.51
-159.52
-155.36
-137.08
-103.7
-171.59
-170.13
- -
-168.47
Tangible Book Value per Share
153
153
153
153
153
153
153
152
152
150
146
144
140
136
133
- -
152
Basic Weighted Avg Shares
60,054
63,561
66,468
64,350
64,506
65,354
62,614
60,655
62,503
65,902
58,541
60,097
70,265
73,585
75,011
89,095
65,354
Sales/Revenue/Turnover
17.07
14.88
14.35
14.52
13.42
12.24
12.55
14.11
14.66
15.31
16.29
16.17
14.93
14.24
14.33
14.16
12.26
Operating Margin (%)
3,987
4,352
4,545
3,863
4,103
4,674
4,742
4,581
4,091
4,542
4,386
4,238
4,187
4,074
4,370
5,428
4,674
Depreciation Expense
5,960
5,149
5,607
5,471
4,414
-2,926
4,486
1,259
5,309
6,569
6,030
6,846
-1,063
-40,788
9,116
5,955
-2,926
Net Income, GAAP
24.03
24.41
22.96
23.55
26.14
- -
33
41.39
28.01
26.9
24.7
20.62
17.85
18.91
19.85
22.9
132.82
Effective Tax Rate (%)
9.92
8.1
8.44
8.5
6.84
-4.48
7.16
2.08
8.49
9.97
10.3
11.39
-1.51
-55.43
12.15
6.68
-4.48
Profit Margin (%)
-11,283
-7,757
-6,400
-15,255
-8,507
-12,683
-17,172
-9,814
-16,395
-15,363
-9,453
-20,191
-14,498
-17,032
-19,676
-19,297
-12,683
Working Capital
32,587
34,364
36,706
30,239
38,690
31,479
21,137
23,340
16,750
20,879
29,291
22,755
22,865
30,763
27,392
61,452
31,479
LT Debt
69,629
71,629
73,650
71,001
55,997
47,231
53,650
49,525
47,889
46,033
43,362
48,756
34,722
25,749
30,612
30,676
47,231
Total Equity
7.56
6.65
6.6
6.34
6.13
- -
6.24
6.29
8.95
10.19
9.8
10.04
12.07
13.17
12.81
11.35
11.42
Return on Invested Capital (%)
8.07
5.53
5.68
5.37
4.14
- -
4.31
0.95
4.69
5.83
5.38
5.39
-1.51
-47.35
13.33
8.27
-53.76
Return on Capital (%)
8.64
7.06
7.41
6.91
5.35
-3.6
5.63
1.57
6.53
8.25
7.67
8.38
-1.36
-81.85
33.56
20.1
-95.9
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Jun'15
Sep'15
Dec'15
ST Debt
2,078
1,481
4,549
LT Borrowings
38,811
36,177
31,479
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
153
153
153
Market Capitalization
96,802
83,103
95,836

Working Capital

FRC

•

in mil. unless spec.
Jun'15
Sep'15
Dec'15
Total Current Assets
22,225
19,201
17,076
Cash, Cash Equivalents & STI
2,826
3,024
3,131
Accounts Receivable, Net
- -
6,727
5,729
Inventories
14,104
4,391
3,817
Total Current Liabilities
31,081
27,737
29,759
Payables & Accruals
- -
- -
- -
ST Debt
2,078
1,481
4,549
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-3.02%
-4.62%
0.21%
Free Cash Flow
-1.21%
2.3%
8.87%
Net Income, GAAP
349%
695.61%
-34.68%
Sales/Revenue/Turnover
3.5%
9%
18.78%
Total Cash Common Dividend
- -
3%
-0.89%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
73,585
2024
- -
- -
- -
- -
75,011
2025
- -
- -
- -
- -
89,095

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
-299.72
2024
- -
- -
- -
- -
68.73
2025
- -
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
27.15
2024
- -
- -
- -
- -
27.15
2025
- -
- -
- -
- -
- -
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Business
Carlsberg A/S is a leading global brewer headquartered in Copenhagen, Denmark, and founded in 1847 by J.C. Jacobsen; the company brews, markets, and distributes a portfolio of more than 180 beer and beverage brands across premium beers including Carlsberg, Kronenbourg 1664, and Tuborg; mainstream core beers such as Ringnes, Falcon, Baltika, Beerlao, and Skol; alcohol-free brews; beyond beer offerings like Somersby ciders and Grimbergen abbey beers; and soft drinks encompassing partner brands such as PepsiCo products alongside own brands from Britvic including Robinsons, Tango, and Ballygowan. Operations span more than 150 markets with approximately 80 breweries concentrated in Western Europe, Central and Eastern Europe, Asia including China, India, Vietnam, and Laos, and select other regions; the business is organized into three main segments--Western Europe, Asia, and Central & Eastern Europe and India (CEEI)--serving on-trade and off-trade channels with a focus on premiumization, sustainability via the Together Towards ZERO and Beyond program, and integrated supply chains emphasizing regenerative agriculture, water replenishment, and carbon reduction. Recent developments include the completion of the GBP 3.3 billion acquisition of Britvic plc in January 2025, doubling soft drinks exposure to around 30% of volumes with anticipated GBP 100-110 million in cost synergies by 2029 through shared distribution and procurement; full ownership of Indian and Nepalese businesses achieved in November 2024 via buyout of partner stakes to accelerate investments in capacity and premium brands in these high-growth markets; expansion of the PepsiCo partnership to Kazakhstan and Kyrgyzstan from January 2026 alongside extensions in Norway and Sweden; inauguration of a new greenfield brewery in Foshan, China, and a Rs 350 crore expansion of the Mysuru brewery in India; a USD 90 million low-carbon upgrade to the Phu Bai Brewery in Vietnam establishing it as Carlsberg's largest in Asia; launch of the Accelerate SAIL growth strategy in February 2024 targeting 4-6% organic revenue CAGR and operating profit growth ahead thereof through heightened marketing investments, cost optimization, and a new growth culture; divestment of Russian operations (Baltika Breweries) in December 2024; and strengthened Executive Committee with new appointments in marketing, HR, IT, strategy, and regional leadership.