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Carlsberg AS Class B CARL B

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Stock XCSE Rating as of
DKK 873.80 +0.80 (0.09%)
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As of Delayed Price Closed

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Carlsberg’s Diversification Efforts Should Support Growth

Verushka Shetty

Carlsberg is the third-largest brewer globally, with strong positions in several markets including western China and Scandinavia. Through its strong market share, the firm has built up regional cost advantages, enabling superior procurement, manufacturing, and distribution efficiencies. Carlsberg’s scale benefits coupled with its entrenched relationships and route-to-market strategy should enable the firm to continue to earn excess economic profits over the next decade.

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Price vs Fair Value

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CARL B is trading at a LOCK|Dh@ms? premium.
Price
DKK 873.80
Fair Value
LOCK|%?
Uncertainty
LOCK|<#<$
1-Star Price
LOCK|zV.b
5-Star Price
LOCK|>%
Economic Moat
LOCK|cRmSp
Capital Allocation
LOCK|>Ww<q?

Bulls Say, Bears Say

Bulls

Carlsberg operates in several markets with attractive volume growth prospects and a premiumization runway.

Bears

Beer is a competitive industry, particularly in developed markets, and returns may be squeezed by price competition across categories.

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Trading Information

Previous Close Price
DKK 873.00
Day Range
DKK 871.40–885.40
52-Week Range
DKK 748.20–1,015.00
Bid/Ask
DKK 872.40 / DKK 873.60
Shares Outstanding
132.17M
Market Cap
DKK 115.49B
Volume/Avg
154,056 / 195,481

Key Statistics

Price/Earnings (Normalized)
14.42
Price/Sales
1.28
Dividend Yield (Trailing)
3.32%
Dividend Yield (Forward)
3.32%
Dividend Payment Schedule
Mar
Total Yield
6.51%

Company Profile

Carlsberg is the third-largest brewer in the world after Anheuser-Busch InBev and Heineken. It holds leading share in Scandinavia, western China, and several other markets in Asia. Its key brands include Carlsberg, 1664, Tuborg, Holsten, and Somersby. The company's 2025 beverage volume was split among Western Europe (42%), Eastern Europe and India (28%), and Asia (30%).
Sector
Consumer Defensive
Industry
Beverages - Brewers
Stock Style Box
Mid Core
Total Number of Employees
36,964
Website
https://www.carlsberggroup.com

Competitors

Valuation

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Metric
CARL B
HEIA
00291
Price/Earnings (Normalized)
 14.4214.0219.59
Price/Book Value
 2.752.091.51
Price/Sales
 1.281.331.45
Price/Cash Flow
 8.218.287.43
Price/Earnings
CARL B
HEIA
00291

Financial Strength

Metric
CARL B
HEIA
00291
Quick Ratio
 0.510.510.68
Current Ratio
 0.660.750.97
Interest Coverage
 4.035.6747.82
Quick Ratio
CARL B
HEIA
00291

Profitability

Metric
CARL B
HEIA
00291
Return on Assets (Normalized)
 5.21%5.06%7.04%
Return on Equity (Normalized)
 25.97%15.07%14.52%
Return on Invested Capital (Normalized)
 9.53%7.96%12.07%
Return on Assets
CARL B
HEIA
00291

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LOCK|<L?><$LOCK|r@#Q—
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LOCK|^hc%FJFLOCK|C@%$49B
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LOCK|WV!%Q>PLOCK|^w^$44B
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LOCK|nQw>ZRLOCK|^&%$7B

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