Royal Unibrew Valuation

Is 0R6Z undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

Below Fair Value
Significantly Below Fair Value
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 0R6Z when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 0R6Z (DKK495.67) is trading below our estimate of fair value (DKK1106.49)

Significantly Below Fair Value: 0R6Z is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 0R6Z?

Key metric: As 0R6Z is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 0R6Z. This is calculated by dividing 0R6Z's market cap by their current earnings.
What is 0R6Z's PE Ratio?
PE Ratio	16.8x
Earnings	DKK 1.48b
Market Cap	DKK 25.48b

0R6Z key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	2.1x
Enterprise Value/EBITDA	11.9x
PEG Ratio	4.6x

Price to Earnings Ratio vs Peers

How does 0R6Z's PE Ratio compare to its peers?

The above table shows the PE ratio for 0R6Z vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	20.6x
SHEP Shepherd Neame	15.6x	8.0%	UK£75.9m
BVIC Britvic	25.7x	17.7%	UK£3.2b
CWK Cranswick	22.5x	8.2%	UK£2.6b
TATE Tate & Lyle	18.5x	15.1%	UK£2.9b
0R6Z Royal Unibrew	16.8x	3.7%	DKK 24.8b

Price-To-Earnings vs Peers: 0R6Z is good value based on its Price-To-Earnings Ratio (16.8x) compared to the peer average (20.6x).

Price to Earnings Ratio vs Industry

How does 0R6Z's PE Ratio compare vs other companies in the European Beverage Industry?

0 Companies	Price / Earnings	Estimated Growth	Market Cap

0 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: 0R6Z is good value based on its Price-To-Earnings Ratio (16.8x) compared to the European Beverage industry average (17.4x).

Price to Earnings Ratio vs Fair Ratio

What is 0R6Z's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

0R6Z PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	16.8x
Fair PE Ratio	16.2x

Price-To-Earnings vs Fair Ratio: 0R6Z is expensive based on its Price-To-Earnings Ratio (16.8x) compared to the estimated Fair Price-To-Earnings Ratio (16.1x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 0R6Z forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	DKK 495.67	DKK 594.30 +19.9%	12.7%	DKK 690.00	DKK 440.00	n/a	10
Dec ’25	DKK 529.25	DKK 598.40 +13.1%	13.3%	DKK 694.00	DKK 440.00	n/a	10
Nov ’25	DKK 516.67	DKK 591.90 +14.6%	15.1%	DKK 694.00	DKK 440.00	n/a	10
Oct ’25	DKK 547.00	DKK 586.90 +7.3%	16.0%	DKK 694.00	DKK 410.00	n/a	10
Sep ’25	DKK 560.00	DKK 568.40 +1.5%	18.2%	DKK 694.00	DKK 410.00	n/a	10
Aug ’25	DKK 534.50	DKK 568.40 +6.3%	18.2%	DKK 694.00	DKK 410.00	n/a	10
Jul ’25	DKK 556.00	DKK 559.50 +0.6%	17.0%	DKK 680.00	DKK 410.00	n/a	10
Jun ’25	DKK 557.48	DKK 545.00 -2.2%	17.3%	DKK 680.00	DKK 410.00	n/a	10
May ’25	DKK 523.24	DKK 529.00 +1.1%	15.3%	DKK 655.00	DKK 410.00	n/a	10
Apr ’25	DKK 456.56	DKK 500.30 +9.6%	18.4%	DKK 673.00	DKK 350.00	n/a	10
Mar ’25	DKK 445.84	DKK 509.80 +14.3%	18.0%	DKK 673.00	DKK 370.00	n/a	10
Feb ’25	DKK 450.35	DKK 527.80 +17.2%	16.3%	DKK 673.00	DKK 370.00	n/a	10
Jan ’25	DKK 454.20	DKK 543.50 +19.7%	14.3%	DKK 700.00	DKK 430.00	DKK 502.50	10
Dec ’24	DKK 442.14	DKK 541.50 +22.5%	14.9%	DKK 700.00	DKK 410.00	DKK 529.25	10
Nov ’24	DKK 509.68	DKK 617.00 +21.1%	16.7%	DKK 760.00	DKK 410.00	DKK 516.67	10
Oct ’24	DKK 545.80	DKK 633.64 +16.1%	16.4%	DKK 760.00	DKK 380.00	DKK 547.00	11
Sep ’24	DKK 594.16	DKK 630.83 +6.2%	15.7%	DKK 750.00	DKK 380.00	DKK 560.00	12
Aug ’24	DKK 594.90	DKK 634.17 +6.6%	15.7%	DKK 760.00	DKK 380.00	DKK 534.50	12
Jul ’24	DKK 610.06	DKK 627.50 +2.9%	15.9%	DKK 760.00	DKK 380.00	DKK 556.00	12
Jun ’24	DKK 594.03	DKK 629.17 +5.9%	15.9%	DKK 760.00	DKK 380.00	DKK 557.48	12
May ’24	DKK 601.45	DKK 619.58 +3.0%	16.9%	DKK 765.00	DKK 380.00	DKK 523.24	12
Apr ’24	DKK 597.33	DKK 575.42 -3.7%	16.7%	DKK 765.00	DKK 380.00	DKK 456.56	12
Mar ’24	DKK 493.33	DKK 540.33 +9.5%	17.4%	DKK 700.00	DKK 375.00	DKK 445.84	12
Feb ’24	DKK 492.41	DKK 538.25 +9.3%	17.4%	DKK 700.00	DKK 375.00	DKK 450.35	12
Jan ’24	DKK 496.25	DKK 575.40 +15.9%	18.6%	DKK 700.00	DKK 400.00	DKK 454.20	10

Analyst Forecast: Target price is less than 20% higher than the current share price.

Discover undervalued companies

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/01/06 20:22
End of Day Share Price	2025/01/06 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

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 here.

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 .

Analyst Sources

Royal Unibrew A/S is covered by 24 analysts. 9 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
Michael Vitfell-Rasmussen	ABG Sundal Collier
Mandeep Sangha	Barclays
Javier Gonzalez-Lastra	Berenberg