Stocktoria

Carlsberg A/S CARL-B.CO

DK · Nasdaq Copenhagen · XCSE · stock · Consumer Defensive · website

Carlsberg A/S statistics & valuation

Market capkr 122.8B
P / E20.6×
P / S1.4×
P / B4.4×
P / FCF18.0×
Dividend yield2.91%
Net margin6.7%
Return on equity21.4%
FCF margin7.7%
Net debtkr 61.0B
Enterprise value USD$23.6B
Earnings yield EBIT/EV6.9%
Return on capital12%
Graham number -42.5%kr 534.08

Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value (kr 534.08); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
-1.50% -55.40% 12.20% 6.70% 2022202320242025
Gross margin (%)
45.60% 44.60% 45.80% 45.20% 2022202320242025
Operating margin (%)
14.90% 14.20% 14.30% 14.20% 2022202320242025
Return on equity (%)
-3.30% -175.60% 32.80% 21.40% 2022202320242025
Shares outstanding
98.5M 98.5M 98.5M 98.5M 2022202320242025
Net debt (kr )
kr 20.48B kr 25.72B kr 26.60B kr 61.04B 2022202320242025
Share buybacks (kr )
kr 4.40B kr 3.20B kr 1.96B kr 4.0M 2022202320242025
Return on assets (%)
-0.90% -36.50% 8.00% 3.90% 2022202320242025
Free cash flow margin (%)
12.70% 10.00% 8.40% 7.70% 2022202320242025
Debt / equity (×)
0.90× 1.68× 1.37× 2.54× 2022202320242025
EPS (kr )
-kr 7.60 -kr 299.70 kr 68.60 kr 44.90 2022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022
Gross margin45.2%45.8%44.6%45.6%
Operating margin14.2%14.3%14.2%14.9%
Net margin6.7%12.2%-55.4%-1.5%
FCF margin7.7%8.4%10.0%12.7%
Return on assets3.9%8.0%-36.5%-0.9%
Return on equity21.4%32.8%-175.6%-3.3%
Debt / equity2.13×0.93×1.27×0.68×
Current ratio0.600.570.640.70

Computed from company filings · DK · as of 2025-12-31. Figures in DKK. Facts plus Stocktoria's own computed scores — not investment advice.