Carlsberg Ratios and Metrics

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 2, 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 Capitalization	20,298	17,897	13,232	18,207	19,195	24,955
Market Cap Growth	29.93%	35.26%	-27.33%	-5.14%	-23.08%	6.43%
Enterprise Value	30,291	28,388	17,217	22,061	22,604	28,938
Last Close Price	30.26	26.11	18.69	24.06	25.04	32.11
PE Ratio	21.68	19.12	10.46	-	-	23.83
PS Ratio	1.45	1.28	1.27	1.67	1.90	2.72
PB Ratio	4.21	3.71	3.11	4.77	3.85	3.35
P/FCF Ratio	17.20	15.17	10.71	18.25	12.28	19.48
P/OCF Ratio	10.39	9.16	7.02	11.57	8.97	13.29
EV/Sales Ratio	2.17	2.03	1.65	2.02	2.24	3.15
EV/EBITDA Ratio	10.33	10.33	8.62	10.69	11.27	13.87
EV/EBIT Ratio	14.65	14.37	11.64	14.32	15.12	19.65
EV/FCF Ratio	25.67	24.05	13.93	22.12	14.46	22.59
Debt / Equity Ratio	2.30	2.30	1.25	1.52	0.83	0.59
Debt / EBITDA Ratio	3.90	3.90	2.55	2.72	2.00	2.06
Debt / FCF Ratio	9.41	9.41	4.28	5.81	2.63	3.45
Net Debt / Equity Ratio	1.99	1.99	0.87	0.91	0.59	0.42
Net Debt / EBITDA Ratio	3.49	3.49	1.85	1.69	1.47	1.51
Net Debt / FCF Ratio	8.13	8.13	2.98	3.49	1.88	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	0.33	0.38
Current Ratio	0.60	0.60	0.57	0.64	0.70	0.53
Return on Equity (ROE)	22.77%	22.77%	28.41%	26.36%	19.61%	18.00%
Return on Assets (ROA)	5.86%	5.86%	5.90%	5.71%	5.38%	4.91%
Return on Invested Capital (ROIC)	10.56%	13.02%	16.05%	16.13%	13.73%	11.34%
Return on Capital Employed (ROCE)	11.90%	11.90%	15.70%	16.10%	15.60%	11.60%
Earnings Yield	4.61%	5.23%	9.56%	-33.22%	-0.80%	4.20%
FCF Yield	5.81%	6.59%	9.34%	5.48%	8.15%	5.13%
Dividend Yield	1.73%	17.46%	20.05%	16.64%	15.49%	11.43%
Payout Ratio	59.93%	59.93%	39.50%	-	-	46.55%
Buyback Yield / Dilution	1.28%	0.29%	2.59%	2.67%	2.84%	1.67%
Total Shareholder Return	3.01%	17.75%	22.64%	19.32%	18.33%	13.10%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.