profit from every DKK 100 of sales.
DKK 0DKK 100
Carlsberg
DKK 1,125.00+0.45% today
+21.8% in 1 year
1-year low DKK 854.001-year high DKK 1,150.00
Trading close to its highest price of the past year.
The essentials
Four questions every investor asks, answered in one line each.
more sales each year, on average, 2022 to 2025.
0%20% a year
You pay DKK 24.97 for every DKK 1 of profit it makes in a year.
CheapExpensive
of earnings would pay off all its debt.
No debt5 years
Money in, money out
What Carlsberg sold, what it kept, and what it did with the cash.
Sales went from DKK 70.3 billion in 2022 to DKK 89.1 billion in 2025, with DKK 5.96 billion of profit last year.
SalesProfit
Carlsberg handed back 52% of the cash it generated last year.
DKK 3.6B
Free cash flow 2025DKK 6.8B
Bought back its own sharesDKK 4M
Paid as dividendsDKK 3.6B
Cash vs. debtDKK 9.6B vs. DKK 70.6B
Carlsberg vs. similar companies
Carlsberg grows in the middle of these 5 and is priced in the middle for its profits.
| Company | Profit from DKK 100 of sales | Sales growth a year | Price per DKK 1 of profit |
|---|---|---|---|
| Carlsberg | 25.0× · Fair price | ||
 Anheuser-Busch InBev SA/NV | 24.4× · Fair price | ||
 Heineken | 25.1× · Fair price | ||
 Fomento Económico Mexicano, S.A.B. de C.V. | 42.8× · Expensive | ||
 Ambev | 15.5× · Fair price |
AI analysis
An AI analyst reads Carlsberg's last five years, its segments, earnings, insiders and peers, and writes the bull case, the bear case and what the price expects.
Run the AI analysisFull statementsIncome, balance sheet and cash flow, year by year
Income statement
| In millions of DKK | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| 70,265 | 73,585 | 75,011 | 89,095 | |
| 32,067 | 32,832 | 34,380 | 40,236 | |
| 10,490 | 10,477 | 10,751 | 12,612 | |
| 14,846 | 15,019 | 15,797 | 17,395 | |
| -1,063 | -40,788 | 9,116 | 5,955 | |
| -7.60 | -299.70 | 68.58 | – | |
| 45.6% | 44.6% | 45.8% | 45.2% | |
| 14.9% | 14.2% | 14.3% | 14.2% | |
| -1.5% | -55.4% | 12.2% | 6.7% |
Balance sheet
| In millions of DKK | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total assets | 115,341 | 111,831 | 113,992 | 153,955 |
| Cash | 8,163 | 13,382 | 11,542 | 9,585 |
| Total debt | 28,646 | 39,101 | 38,140 | 70,623 |
| Total liabilities | 80,619 | 86,082 | 83,380 | 123,279 |
| 31,902 | 23,234 | 27,771 | 27,804 | |
| 140 | 136 | 133 | – | |
| 13.9% | 13.9% | 13.7% | 9.6% | |
| -3.3% | -175.6% | 32.8% | 21.4% |
Cash flow
| In millions of DKK | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| 12,949 | 11,607 | 11,312 | 12,431 | |
| 4,018 | 4,243 | 5,030 | 5,592 | |
| 8,931 | 7,364 | 6,282 | 6,839 | |
| Dividends paid | 3,389 | 3,695 | 3,601 | 3,569 |
| 4,400 | 3,200 | 1,960 | 4 | |
| 97 | 130 | 100 | 128 |
Valuation
- 25.0×
- –
- –
- 5.1×
- 1.7×
- 21.7×
- 12.1×
- 4.6%
- 4.0%
- 2.4%
Profitability
- 45.2%
- 14.2%
- 6.7%
- –
- 9.5%
- 12.6%
- –
- –
- –
- –
Growth
- +8.2%
- –
- –
- –
- −2.7%
Financial health
- 3.5×
- 2.54
- –
- 4.1×
- 0.60
- –
- –
How it ranks in Consumer Staples
Each dot is where the company stands among every company over $300M in the sector. Further right is better.
Bottom 49%of 669
Top 34%of 672
Bottom 30%of 623
Top 33%of 671
Bottom 48%of 666
2.4%of the share price, paid each year
On $1,000 invested$24a year at today's yield, before tax
–per share
Raised–not every year
How safe it looks
59.9% of its profit
Room to growStretchedMore than it earns: 52.2%
News
Tilray reaffirms FY2027 adjusted EBITDA guidance of $68M-$75M while integrating BrewDog and preparing for Carlsberg dealSeeking Alpha · Oct 8, 2026Insider trades
Our insider feed has not updated since May 26, 2026. Trades filed after that are not listed yet.
No insider trades on file.
The seven classic investing rulebooks
0/7Passes 0 of 7. Each bar is how well the company fits that investor's published rules, from 0 to 100; 60 or more counts as a pass.
Warren Buffett
42No pass
Benjamin Graham
16No pass
Philip Fisher
50No pass
Peter Lynch
32No pass
Joel Greenblatt
29No pass
Charlie Munger
37No pass
Terry Smith
40No pass
Questions about Carlsberg
Is Carlsberg a good stock to buy?
A business with weak numbers at a fair price. 0 of the 7 famous investors' published rulebooks we apply pass it. Whether it suits you depends on your goals and the price you pay; invest-like never tells anyone to buy or sell. The AI analysis lays out the case for and against. Read the Carlsberg AI analysis
What does Carlsberg do?
Carlsberg A/S produces and markets beer, soft drinks, and other beverage products in Denmark, China, the United Kingdom, and internationally. It is in Beverages - Brewers, based in Copenhagen, Denmark, with 36,056 employees.
Does Carlsberg pay a dividend?
Yes. At today's price the dividend is 2.4% a year, about 60% of its yearly profit. In 2025 it paid out DKK 3.57 billion in dividends.
Is Carlsberg stock halal?
No. Carlsberg does not pass our halal screen: its main business, alcohol, is not permitted. How we check
How has Carlsberg stock done over the past year?
Up 21.8% over the past twelve months, to DKK 1,125.00. It traded between DKK 854.00 and DKK 1,150.00 and is 2.2% below its high.
Who are Carlsberg's competitors?
The largest listed companies in the same industry are Anheuser-Busch InBev SA/NV, Heineken, Fomento Económico Mexicano, S.A.B. de C.V. and Ambev. The peers table on this page compares their profit, growth and price with Carlsberg's.
Prices: daily closes to Nov 13, 2026. Fundamentals: company reports via invest-like data.