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Carlsberg A/S
SWB:CBGB

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Carlsberg A/S
SWB:CBGB
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Price: 111.9 EUR 4.63% Market Closed
Market Cap: €15.2B

EV/EBIT

12.7
Current
4%
Cheaper
vs 3-y average of 13.2

Enterprise Value to EBIT (EV/EBIT) ratio compares a company`s total enterprise value to its earnings before interest and taxes. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBIT
12.7
=
Enterprise Value
€181.7B
/
EBIT
kr12.6B

Enterprise Value to EBIT (EV/EBIT) ratio compares a company`s total enterprise value to its earnings before interest and taxes. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBIT
12.7
=
Enterprise Value
€181.7B
/
EBIT
kr12.6B

Valuation Scenarios

Carlsberg A/S is trading below its 3-year average

If EV/EBIT returns to its 3-Year Average (13.2), the stock would be worth €116.02 (4% upside from current price).

Statistics
Positive Scenarios
4/4
Maximum Downside
No Downside Scenarios
Maximum Upside
+15%
Average Upside
8%
Scenario EV/EBIT Value Implied Price Upside/Downside
Current Multiple 12.7 €111.9
0%
3-Year Average 13.2 €116.02
+4%
5-Year Average 13.4 €118.44
+6%
Industry Average 14.6 €128.45
+15%
Country Average 13.6 €119.8
+7%

Forward EV/EBIT
Today’s price vs future ebit

Today's Enterprise Value EBIT Forward EV/EBIT
€181.7B
/
Jan 2026
kr12.6B
=
12.7
Current
€181.7B
/
Dec 2026
kr14.5B
=
12.6
Forward
€181.7B
/
Dec 2027
kr15.5B
=
11.7
Forward
€181.7B
/
Dec 2028
kr16.4B
=
11.1
Forward

Forward EV/EBIT shows whether today’s EV/EBIT still looks high or low once future ebit are taken into account.

Peer Comparison

All Multiples
EV/EBIT
P/E
All Countries
Close

Market Distribution

Lower than 87% of companies in Denmark
Percentile
13th
Based on 367 companies
13th percentile
1.8
Low
0.8 — 6.6
Typical Range
6.6 — 19.5
High
19.5 —
Distribution Statistics
Denmark
Min 0.8
30th Percentile 6.6
Median 13.6
70th Percentile 19.5
Max 473.6

Carlsberg A/S
Glance View

Nestled in the heart of Copenhagen since 1847, Carlsberg A/S has traversed a storied path from its humble beginnings as a local brewery to becoming one of the globe's leading brewing enterprises. Founded by J.C. Jacobsen, the company's quest was not merely about producing beer but crafting a legacy of passion, precision, and innovation. Guided by a scientific approach to brewing, Carlsberg pioneered advancements that altered the industry's trajectory—including the development of purified yeast in the late 19th century. This relentless drive for excellence and modernization propelled Carlsberg beyond Danish borders, carving its name into the international scene. Today, Carlsberg continues to operate with a dynamic blend of tradition and modern business acumen. Its portfolio boasts well-known brands such as Tuborg and Kronenbourg, alongside its flagship Carlsberg beer. The company generates revenue predominantly through the production, distribution, and marketing of a diverse range of beer and beverage offerings. With strategic acquisitions and the expansion of its operations into emerging markets across Asia and Eastern Europe, Carlsberg leverages its global distribution network to penetrate competitive beer markets. In balancing cost management with sustainable practices, Carlsberg has carved a unique niche, aligning its business operations with the growing demand for environmentally responsible and high-quality beverages. Through these thoughtful strategies, Carlsberg maintains its venerable status in the ever-competitive brewing industry.

CBGB Intrinsic Value
199.44 EUR
Undervaluation 44%
Intrinsic Value
Price €111.9
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