Carlsberg (CBGB) Stock Overview

Produces and markets beer and other beverage products in Denmark, China, the United Kingdom, and internationally. More details

CBGB fundamental analysis
Snowflake Score
Valuation	5/6
Future Growth	2/6
Past Performance	2/6
Financial Health	1/6
Dividends	5/6

Rewards

Trading at 57.6% below our estimate of its fair value

Earnings are forecast to grow 12.05% per year

Pays a reliable dividend of 3.63%

Analysts in good agreement that stock price will rise by 30.7%

Risk Analysis

Debt is not well covered by operating cash flow

Shares are highly illiquid

CBGB Community Fair Values

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Carlsberg A/S Competitors

Price History & Performance

Summary of share price highs, lows and changes for Carlsberg
Historical stock prices
Current Share Price	DKK 99.72
52 Week High	DKK 114.40
52 Week Low	DKK 99.16
Beta	0.60
1 Month Change	n/a
3 Month Change	n/a
1 Year Change	n/a
3 Year Change	n/a
5 Year Change	n/a
Change since IPO	24.34%

Recent News & Updates

No updates

Recent updates

No updates

Shareholder Returns

	CBGB	DE Beverage	DE Market
7D	-0.4%	2.8%	2.6%
1Y	n/a	-1.2%	14.7%

Return vs Industry: Insufficient data to determine how CBGB performed against the German Beverage industry.

Return vs Market: Insufficient data to determine how CBGB performed against the German Market.

Price Volatility

Is CBGB's price volatile compared to industry and market?
CBGB volatility
CBGB Average Weekly Movement	n/a
Beverage Industry Average Movement	5.9%
Market Average Movement	4.9%
10% most volatile stocks in DE Market	12.3%
10% least volatile stocks in DE Market	2.5%

Stable Share Price: CBGB's share price has been volatile over the past 3 months compared to the German market.

Volatility Over Time: Insufficient data to determine CBGB's volatility change over the past year.

About the Company

Founded	Employees	CEO	Website
1847	32,345	Jacob Aarup-Andersen	www.carlsberggroup.com

Carlsberg A/S produces and markets beer and other beverage products in Denmark, China, the United Kingdom, and internationally. The company offers abbey beer, alcohol-free drinks, ale, American dark lager, Belgian ale, Belgian pale ale, bock, Bosomian Pilsners, brown ale, cider, dark lager, dubbel, energy drink, English pale ale, European dark and strong lager, European lager and pale lager, fruit beer, golden ale, hard seltzer, Hefeweizen, India pale ale, juices, Kellerbier, Kvass, lager, light beer, light pilsners, march beer, mead, mild lager, Münich, organic, pale ale, pale lager, pilsner, radler, ready-to-drink, red ale, seasonal brews, session, soft drink, sour, specialty, stout, strong pilsner, Vienna, water, wheat beer, white lager, and witbier under various brands. The company was founded in 1847 and is headquartered in Copenhagen, Denmark.

Carlsberg A/S Fundamentals Summary

How do Carlsberg's earnings and revenue compare to its market cap?
CBGB fundamental statistics
Market cap	€13.97b
Earnings (TTM)	€894.86m
Revenue (TTM)	€10.99b

14.7x

P/E Ratio

1.2x

P/S Ratio

Is CBGB overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
CBGB income statement (TTM)
Revenue	DKK 82.06b
Cost of Revenue	DKK 44.47b
Gross Profit	DKK 37.59b
Other Expenses	DKK 30.91b
Earnings	DKK 6.68b

Last Reported Earnings

Jun 30, 2025

Next Earnings Date

n/a

Earnings per share (EPS)	50.58
Gross Margin	45.81%
Net Profit Margin	8.14%
Debt/Equity Ratio	257.6%

How did CBGB perform over the long term?

See historical performance and comparison

Dividends

3.6%

Current Dividend Yield

53%

Payout Ratio

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/10/06 12:21
End of Day Share Price	2025/10/03 00:00
Earnings	2025/06/30
Annual Earnings	2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Carlsberg A/S is covered by 59 analysts. 19 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
null null	ABG Sundal Collier
Anthony Bucalo	Banco Santander
Alexandra Oldroyd	Barclays