Carlsberg Ratios and Metrics

Market cap in millions DKK. Fiscal year is January - December.

Millions DKK. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Apr '26 Apr 9, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Market Cap	116,957	110,390	91,134	113,568	126,794	160,267
Market Cap Growth	-1.81%	21.13%	-19.75%	-10.43%	-20.89%	13.26%
Enterprise Value	180,867	165,129	109,766	131,228	144,316	177,937
Last Close Price	862.60	835.20	690.00	846.80	923.20	1129.50
PE Ratio	19.21	18.60	10.06	-2.83	-121.47	23.83
Forward PE	13.37	13.49	11.88	15.09	16.83	21.73
PEG Ratio	1.34	1.40	1.31	1.78	2.24	1.92
PS Ratio	1.31	1.24	1.21	1.54	1.80	2.67
PB Ratio	3.81	3.97	3.28	4.89	3.97	3.52
P/TBV Ratio	4.11	3.98	3.30	4.97	4.06	3.58
P/FCF Ratio	15.58	14.70	13.72	14.71	14.20	19.14
P/OCF Ratio	9.41	8.88	8.06	9.78	9.79	13.05
EV/Sales Ratio	2.03	1.85	1.46	1.78	2.05	2.96
EV/EBITDA Ratio	9.64	9.80	7.19	8.90	9.70	11.81
EV/EBIT Ratio	13.67	14.45	10.08	12.29	13.51	16.43
EV/FCF Ratio	24.09	22.00	16.52	17.00	16.16	21.25
Debt / Equity Ratio	2.00	2.00	0.89	1.19	0.66	0.47
Debt / EBITDA Ratio	4.20	4.19	2.50	2.65	1.93	1.92
Debt / FCF Ratio	9.41	9.41	5.74	5.07	3.21	3.45
Net Debt / Equity Ratio	2.19	2.19	0.96	1.01	0.64	0.45
Net Debt / EBITDA Ratio	3.63	3.62	1.74	1.59	1.38	1.37
Net Debt / FCF Ratio	8.13	8.13	3.99	3.04	2.29	2.46
Asset Turnover	0.67	0.67	0.66	0.65	0.58	0.49
Inventory Turnover	7.48	7.48	6.91	7.07	6.88	6.30
Quick Ratio	0.43	0.43	0.42	0.50	0.38	0.38
Current Ratio	0.60	0.60	0.57	0.64	0.77	0.53
Return on Equity (ROE)	23.43%	22.77%	28.41%	26.36%	19.61%	18.01%
Return on Assets (ROA)	6.73%	6.58%	7.73%	7.62%	7.26%	7.01%
Return on Invested Capital (ROIC)	9.17%	8.97%	11.40%	10.87%	9.61%	8.98%
Return on Capital Employed (ROCE)	13.50%	13.19%	16.43%	15.78%	13.90%	12.49%
Earnings Yield	5.09%	5.38%	9.94%	-35.39%	-0.82%	4.20%
FCF Yield	6.42%	6.80%	7.29%	6.80%	7.04%	5.22%
Dividend Yield	3.36%	0.00%	0.00%	0.00%	0.00%	0.00%
Payout Ratio	59.93%	0.00%	0.00%	0.00%	0.00%	0.00%
Buyback Yield / Dilution	1.28%	0.29%	2.59%	2.67%	2.84%	1.67%
Total Shareholder Return	4.64%	0.29%	2.59%	2.67%	2.84%	1.67%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.