Carlsberg A/S

CPSE:CARL B Stock Report

Market Cap: DKK 103.9b

Carlsberg Future Growth

Future criteria checks 3/6

Carlsberg is forecast to grow earnings and revenue by 12% and 5.4% per annum respectively. EPS is expected to grow by 12.8% per annum. Return on equity is forecast to be 23.7% in 3 years.

Key information

12.0%

Earnings growth rate

12.82%

EPS growth rate

Beverage earnings growth11.0%
Revenue growth rate5.4%
Future return on equity23.70%
Analyst coverage

Good

Last updated07 Oct 2025

Recent future growth updates

Recent updates

Returns On Capital Are Showing Encouraging Signs At Carlsberg (CPH:CARL B)

Jul 14
Returns On Capital Are Showing Encouraging Signs At Carlsberg (CPH:CARL B)

Carlsberg A/S' (CPH:CARL B) Business Is Trailing The Market But Its Shares Aren't

Jun 16
Carlsberg A/S' (CPH:CARL B) Business Is Trailing The Market But Its Shares Aren't

An Intrinsic Calculation For Carlsberg A/S (CPH:CARL B) Suggests It's 47% Undervalued

May 26
An Intrinsic Calculation For Carlsberg A/S (CPH:CARL B) Suggests It's 47% Undervalued

Is Carlsberg (CPH:CARL B) Using Too Much Debt?

Apr 23
Is Carlsberg (CPH:CARL B) Using Too Much Debt?

Carlsberg (CPH:CARL B) Is Due To Pay A Dividend Of DKK27.00

Mar 15
Carlsberg (CPH:CARL B) Is Due To Pay A Dividend Of DKK27.00

Carlsberg (CPH:CARL B) Has Affirmed Its Dividend Of DKK27.00

Mar 01
Carlsberg (CPH:CARL B) Has Affirmed Its Dividend Of DKK27.00

There's Reason For Concern Over Carlsberg A/S' (CPH:CARL B) Massive 25% Price Jump

Feb 15
There's Reason For Concern Over Carlsberg A/S' (CPH:CARL B) Massive 25% Price Jump
User avatar

Accelerate SAIL Strategy And Britvic Acquisition Will Strengthen Future Market Position

Strategic acquisitions and market entries are poised to drive long-term growth, supporting revenue and market expansion.

Carlsberg (CPH:CARL B) Is Doing The Right Things To Multiply Its Share Price

Feb 03
Carlsberg (CPH:CARL B) Is Doing The Right Things To Multiply Its Share Price

Is Carlsberg (CPH:CARL B) Using Too Much Debt?

Dec 05
Is Carlsberg (CPH:CARL B) Using Too Much Debt?

Carlsberg A/S' (CPH:CARL B) Price In Tune With Earnings

Nov 17
Carlsberg A/S' (CPH:CARL B) Price In Tune With Earnings

Investors Will Want Carlsberg's (CPH:CARL B) Growth In ROCE To Persist

Oct 30
Investors Will Want Carlsberg's (CPH:CARL B) Growth In ROCE To Persist

Earnings and Revenue Growth Forecasts

CPSE:CARL B - Analysts future estimates and past financials data (DKK Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/202797,9559,3819,74716,47118
12/31/202694,5388,4268,74315,54519
12/31/202590,7917,3426,72514,11019
6/30/202582,0636,6817,53512,999N/A
3/31/202578,5376,7708,03813,285N/A
12/31/202475,0116,8588,54013,570N/A
6/30/202474,6006,8003,6308,360N/A
3/31/202474,0936,8805,0009,487N/A
12/31/202373,5856,9606,37010,613N/A
6/30/202372,6067,56910,45114,655N/A
3/31/202371,4367,29110,66714,778N/A
12/31/202270,2657,01210,88314,901N/A
9/30/202268,5697,38610,00013,934N/A
6/30/202266,8727,75911,06914,919N/A
3/31/202263,4857,4459,72213,599N/A
12/31/202160,0977,1308,37512,278N/A
9/30/202159,2406,5098,17811,917N/A
6/30/202158,3835,8887,98111,555N/A
3/31/202158,4625,9597,25711,242N/A
12/31/202058,5416,0306,53210,928N/A
9/30/202060,1426,1886,31110,892N/A
6/30/202061,7426,3456,09010,855N/A
3/31/202063,8226,4576,87111,547N/A
12/31/201965,9026,5697,65112,239N/A
9/30/201965,2156,2437,11611,758N/A
6/30/201964,5275,9176,58011,276N/A
3/31/201963,5155,613N/A11,662N/A
12/31/201862,5035,309N/A12,047N/A
9/30/201861,4743,368N/A12,081N/A
6/30/201860,4451,426N/A12,115N/A
3/31/201860,5501,343N/A11,975N/A
12/31/201760,6551,259N/A11,834N/A
9/30/201761,6013,091N/A11,428N/A
6/30/201762,5474,923N/A11,022N/A
3/31/201762,5814,705N/A10,176N/A
12/31/201662,6144,486N/A9,329N/A
9/30/201661,5853,255N/A9,394N/A
6/30/201664,195-2,554N/A11,589N/A
3/31/201667,505-1,902N/A13,335N/A
12/31/201565,354-2,926N/A10,140N/A
9/30/201565,026-2,836N/A9,476N/A
6/30/201564,8503,766N/A8,377N/A
3/31/201565,0814,391N/A8,053N/A
12/31/201464,5064,414N/A7,405N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: CARL B's forecast earnings growth (12% per year) is above the savings rate (1.6%).

Earnings vs Market: CARL B's earnings (12% per year) are forecast to grow faster than the Danish market (3.9% per year).

High Growth Earnings: CARL B's earnings are forecast to grow, but not significantly.

Revenue vs Market: CARL B's revenue (5.4% per year) is forecast to grow slower than the Danish market (5.7% per year).

High Growth Revenue: CARL B's revenue (5.4% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: CARL B's Return on Equity is forecast to be high in 3 years time (23.7%)

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/10/07 16:39
End of Day Share Price 2025/10/07 00:00
Earnings2025/06/30
Annual Earnings2024/12/31

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.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* 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.

AnalystInstitution
null nullABG Sundal Collier
Anthony BucaloBanco Santander
Alexandra OldroydBarclays