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Royal Unibrew AS RBREW

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Stock XCSE Rating as of
DKK 405.40 +2.20 (0.55%)
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Loss of Northern Europe PepsiCo Contract Presents a Medium-Term Challenge; Fair Value Cut by 16%

Verushka Shetty

Royal Unibrew began as a pure-play brewer but expanded into manufacturing and distributing a broad range of beverages across the Nordics, Western Europe, and the Baltics through several acquisitions. Around half of Royal Unibrew’s growth since 2021 has been driven by acquisitions. Royal Unibrew’s diversified portfolio includes owned brands as well as third-party brands from beverage heavyweights such as PepsiCo, Heineken, and Diageo.

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Price vs Fair Value

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RBREW is trading at a LOCK|LzlLl&@ premium.
Price
DKK 405.40
Fair Value
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Uncertainty
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1-Star Price
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5-Star Price
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Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Royal Unibrew’s acquisitions over the years have expanded its portfolio across a wide range of alcoholic and nonalcoholic categories to suit a range of customers’ preferences.

Bears

Royal Unibrew’s partners hold the bargaining power due to their ultimate control of concentrate pricing and brand ownership.

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Trading Information

Previous Close Price
DKK 403.20
Day Range
DKK 403.20–410.20
52-Week Range
DKK 394.60–653.50
Bid/Ask
DKK 404.20 / DKK 404.60
Shares Outstanding
47.26M
Market Cap
DKK 19.16B
Volume/Avg
180,362 / 126,175

Key Statistics

Price/Earnings (Normalized)
12.14
Price/Sales
1.25
Dividend Yield (Trailing)
3.95%
Dividend Yield (Forward)
3.95%
Dividend Payment Schedule
May
Total Yield
8.67%

Company Profile

Royal Unibrew AS manufactures and sells beverages, including beer, malt beverages, cider, soft drinks, juice, and water. The company produces and distributes its own brands and partner brands, with its largest licensing agreements with PepsiCo and Heineken. Royal Unibrew was founded in 1989 and listed on the Copenhagen stock exchange in 1998.In 2024, Royal Unibrew took over PepsiCo’s beverage business in Luxembourg and Belgium. In 2025, Royal Unibrew finalized its acquisition of Pernod Ricard’s portfolio of Nordic brands, including spirits, liqueurs, and wines.
Sector
Consumer Defensive
Industry
Beverages - Brewers
Stock Style Box
Small Core
Total Number of Employees
4,336
Website
https://www.royalunibrew.com

Competitors

Valuation

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Metric
RBREW
CCEP
CARL B
Price/Earnings (Normalized)
 12.1420.1413.90
Price/Book Value
 3.104.722.65
Price/Sales
 1.251.821.24
Price/Cash Flow
 8.3113.057.91
Price/Earnings
RBREW
CCEP
CARL B

Financial Strength

Metric
RBREW
CCEP
CARL B
Quick Ratio
 0.390.590.51
Current Ratio
 0.660.890.66
Interest Coverage
 9.809.794.03
Quick Ratio
RBREW
CCEP
CARL B

Profitability

Metric
RBREW
CCEP
CARL B
Return on Assets (Normalized)
 8.56%6.28%5.21%
Return on Equity (Normalized)
 24.80%24.51%25.97%
Return on Invested Capital (Normalized)
 13.95%10.51%9.53%
Return on Assets
RBREW
CCEP
CARL B

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