Carlsberg A/S (CARL B.CO) Stock Price

Carlsberg A/S Price

OMX·CLOSED
916.20DKK-0.20 (-0.02 %)
Market closed

Over the last 19 years Carlsberg A/S grew revenue by 4.2% annually, reaching 89.10 B DKK. Earnings per share have grown at 4.4% per year over the last 19 years. For Carlsberg A/S, the net margin of 6.7% is down versus 11.4% a few years ago. At today's price the dividend yield works out to roughly 2.95%. The payout ratio is around 60% of earnings. The dividend has grown at 9.3% per year over the past 19 years. The consensus 12-month price target for Carlsberg A/S is 1,101.60 DKK, about 20.2% above where the stock trades today. Of 30 analysts, 22 rate the stock a buy — an overall Buy consensus. The stock trades about 24% above its 52-week low.

Carlsberg A/S stock price

Volume
Ex-Dividend
Details

Stock Price

ⓘ

How to Read This Chart

This chart tracks the historical stock price of Carlsberg A/S over time. You can switch between daily, weekly, and monthly views and select custom time ranges — from a single day to the full available history. Use the toggle to view price changes in absolute currency terms or as a percentage change relative to the starting date.

Total Return vs. Price Return

The "Total Return" toggle includes reinvested dividends on top of the pure price movement. This is critical because dividends can account for a significant portion of long-term returns. Historically, roughly 40 % of the S&P 500's total return has come from dividends. Always compare total return when evaluating a stock's real performance against a benchmark.

Intraday Price Data

When viewing a one-day time frame, the chart displays real-time intraday price movements. This is useful for observing how Carlsberg A/S stock reacts to market openings, earnings releases, or breaking news throughout the trading session.

What to Look For

Look for long-term trends (sustained upward or downward movements over months and years), support and resistance levels (price zones where the stock repeatedly bounces or reverses), and volatility (how much the price fluctuates day to day). Comparing Carlsberg A/S's price chart to a market index like the S&P 500 can reveal whether the stock is outperforming or underperforming the broader market.

Carlsberg A/S Stock Price History
DateCarlsberg A/S Price
8/13/2026916.20 DKK
8/12/2026916.40 DKK
8/11/2026924.20 DKK
8/10/2026924.40 DKK
8/7/2026949.40 DKK
8/6/2026956.40 DKK
8/5/2026955.00 DKK
8/4/2026942.80 DKK
7/31/2026956.20 DKK
7/30/2026958.60 DKK
7/29/2026952.00 DKK
7/28/2026933.60 DKK
7/27/2026914.00 DKK
7/24/2026905.60 DKK
7/23/2026927.40 DKK
7/22/2026938.00 DKK
7/21/2026929.40 DKK
7/20/2026927.40 DKK
7/17/2026938.80 DKK
7/16/2026934.80 DKK
7/15/2026919.60 DKK
7/14/2026917.80 DKK
7/13/2026909.00 DKK
7/10/2026920.60 DKK
7/9/2026918.20 DKK
7/8/2026931.40 DKK
7/7/2026953.20 DKK
7/6/2026935.60 DKK
7/3/2026915.80 DKK
7/2/2026925.20 DKK
7/1/2026873.20 DKK
6/30/2026856.80 DKK
6/29/2026874.40 DKK
6/26/2026870.00 DKK
6/25/2026883.80 DKK
6/24/2026876.60 DKK
6/23/2026864.60 DKK
6/22/2026848.40 DKK
6/19/2026835.80 DKK
6/18/2026826.80 DKK
6/17/2026844.80 DKK
6/16/2026838.20 DKK
6/15/2026850.00 DKK
6/12/2026852.40 DKK
6/11/2026853.60 DKK
6/10/2026852.00 DKK
6/9/2026847.80 DKK
6/8/2026825.40 DKK
6/4/2026817.00 DKK
6/3/2026829.80 DKK
6/2/2026841.80 DKK
6/1/2026840.80 DKK
5/29/2026861.40 DKK
5/28/2026877.00 DKK
5/27/2026890.60 DKK
5/26/2026859.60 DKK
5/22/2026878.00 DKK
5/21/2026870.60 DKK
5/20/2026851.60 DKK
5/19/2026849.40 DKK
5/18/2026831.20 DKK
5/13/2026830.60 DKK
5/12/2026844.40 DKK
5/11/2026845.00 DKK
5/8/2026855.60 DKK
5/7/2026857.80 DKK
5/6/2026874.20 DKK
5/5/2026861.00 DKK
5/4/2026852.40 DKK
5/1/2026877.00 DKK
4/30/2026862.20 DKK
4/29/2026836.00 DKK
4/28/2026815.40 DKK
4/27/2026805.60 DKK
4/24/2026803.80 DKK
4/23/2026809.00 DKK
4/22/2026819.20 DKK
4/21/2026823.00 DKK
4/20/2026836.20 DKK
4/17/2026846.40 DKK
4/16/2026825.20 DKK
4/15/2026823.60 DKK
4/14/2026832.60 DKK
4/13/2026844.00 DKK
4/10/2026862.60 DKK
4/9/2026848.00 DKK
4/8/2026859.00 DKK
4/7/2026832.20 DKK
4/1/2026821.31 DKK
3/27/2026795.68 DKK
3/26/2026795.74 DKK
3/25/2026791.80 DKK
3/24/2026791.62 DKK
3/23/2026792.30 DKK
3/20/2026798.88 DKK
3/19/2026809.02 DKK
3/17/2026860.14 DKK
3/13/2026877.57 DKK
3/12/2026881.64 DKK
3/11/2026897.98 DKK
3/10/2026894.50 DKK
3/9/2026886.47 DKK
3/6/2026911.60 DKK
3/5/2026929.00 DKK
2/27/2026977.50 DKK
2/26/2026979.53 DKK
2/25/2026984.80 DKK
2/23/20261,000.96 DKK
2/20/20261,000.67 DKK
2/19/2026988.10 DKK
2/18/2026991.82 DKK
2/17/2026990.09 DKK
2/16/2026996.18 DKK
2/13/20261,007.93 DKK
2/12/20261,003.09 DKK
2/11/2026988.19 DKK
2/10/2026975.60 DKK
2/9/2026976.60 DKK
2/6/2026946.11 DKK
2/5/2026931.89 DKK
2/4/2026922.57 DKK
2/3/2026883.00 DKK
2/2/2026874.13 DKK
1/30/2026857.45 DKK
1/29/2026853.66 DKK
1/28/2026843.00 DKK
1/27/2026842.56 DKK
1/26/2026846.68 DKK
1/23/2026848.90 DKK
1/22/2026859.00 DKK
1/21/2026849.28 DKK
1/20/2026844.31 DKK
1/19/2026845.49 DKK
1/17/2026857.00 DKK
1/16/2026857.00 DKK
1/15/2026857.90 DKK
1/14/2026854.37 DKK
1/13/2026834.10 DKK
1/12/2026839.57 DKK
1/9/2026844.45 DKK
1/8/2026843.17 DKK
1/7/2026817.02 DKK
1/6/2026822.10 DKK
1/5/2026810.46 DKK
1/2/2026835.32 DKK
12/30/2025834.40 DKK
12/29/2025829.00 DKK
12/24/2025823.46 DKK
12/23/2025828.81 DKK
12/22/2025827.93 DKK
12/19/2025835.94 DKK
12/18/2025838.60 DKK
12/17/2025834.20 DKK
12/16/2025838.92 DKK
12/15/2025830.60 DKK
12/12/2025832.00 DKK
12/11/2025820.37 DKK
12/10/2025804.20 DKK
12/9/2025805.80 DKK
12/8/2025797.80 DKK
12/5/2025815.60 DKK
12/4/2025815.03 DKK
12/3/2025803.80 DKK
12/2/2025805.35 DKK
12/1/2025805.06 DKK
11/28/2025804.59 DKK
11/27/2025804.15 DKK
11/26/2025797.27 DKK
11/25/2025792.99 DKK
11/24/2025784.90 DKK
11/21/2025786.83 DKK
11/20/2025764.71 DKK
11/19/2025764.75 DKK
11/18/2025757.40 DKK
11/17/2025769.80 DKK
11/14/2025787.28 DKK
11/13/2025797.60 DKK
11/12/2025793.00 DKK
11/11/2025793.36 DKK
11/10/2025782.72 DKK
11/7/2025782.64 DKK
11/6/2025779.00 DKK
11/5/2025781.20 DKK
11/4/2025772.80 DKK
11/3/2025770.97 DKK
10/31/2025760.10 DKK
10/30/2025772.61 DKK
10/29/2025780.60 DKK
10/28/2025781.45 DKK
10/27/2025782.28 DKK
10/25/2025783.92 DKK
10/24/2025788.60 DKK
10/23/2025794.44 DKK
10/22/2025791.99 DKK
10/21/2025793.05 DKK
10/20/2025791.60 DKK
10/17/2025793.80 DKK
10/16/2025770.60 DKK
10/15/2025762.40 DKK
10/14/2025752.80 DKK
10/13/2025758.04 DKK
10/10/2025757.40 DKK
10/9/2025749.00 DKK
10/8/2025748.65 DKK
10/7/2025745.40 DKK
10/6/2025740.80 DKK
10/3/2025744.40 DKK
10/2/2025756.40 DKK
10/1/2025755.77 DKK
9/30/2025738.80 DKK
9/29/2025748.60 DKK
9/26/2025748.40 DKK
9/25/2025750.20 DKK
9/24/2025747.20 DKK
9/23/2025747.40 DKK
9/22/2025751.60 DKK
9/19/2025750.94 DKK
9/18/2025758.15 DKK
9/17/2025762.00 DKK
9/16/2025765.19 DKK
9/15/2025774.41 DKK
9/12/2025770.00 DKK
9/11/2025773.80 DKK
9/10/2025776.11 DKK
9/9/2025780.00 DKK
9/8/2025768.80 DKK
9/5/2025784.20 DKK
9/4/2025784.60 DKK
9/3/2025780.00 DKK
9/2/2025785.40 DKK
9/1/2025781.00 DKK
8/29/2025778.93 DKK
8/28/2025783.60 DKK
8/27/2025766.40 DKK
8/26/2025771.24 DKK
8/25/2025774.61 DKK
8/22/2025778.60 DKK
8/21/2025777.60 DKK
8/20/2025777.80 DKK
8/19/2025771.00 DKK
8/18/2025751.25 DKK
8/15/2025755.07 DKK
8/14/2025749.20 DKK
Access this data via the Eulerpool API
Get Free API Key

Carlsberg A/S Revenue, EBIT, Net Income

  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Revenue
EBIT
Net Income
Details
Date
Revenue
EBIT
Net Income
Jan 1, 2023
73.59 B DKK
10.48 B DKK
-40.79 B DKK
Jan 1, 2024
75.01 B DKK
10.75 B DKK
9.12 B DKK
Jan 1, 2025
89.10 B DKK
12.61 B DKK
5.96 B DKK
Jan 1, 2026 (e)
93.83 B DKK
14.46 B DKK
8.62 B DKK
Jan 1, 2027 (e)
97.10 B DKK
15.51 B DKK
9.46 B DKK
Jan 1, 2028 (e)
100.58 B DKK
16.40 B DKK
10.17 B DKK
Jan 1, 2029 (e)
106.64 B DKK
18.49 B DKK
12.24 B DKK
Jan 1, 2030 (e)
111.52 B DKK
19.62 B DKK
13.91 B DKK

Carlsberg A/S Income Statement, Balance Sheet, Cash Flow Statement

Last updated Aug 14, 2026, 5:59 PM
 
REVENUEB DKK
REVENUE GROWTH%
GROSS MARGIN%
GROSS INCOMEB DKK
EBITB DKK
EBIT MARGIN%
NET INCOMEB DKK
NET INCOME GROWTH%
DIV.DKK
DIV. GROWTH%
SHARESM
201520162017201820192020202120222023202420252026e2027e2028e2029e2030e
65.3562.6160.6662.5065.9058.5460.1070.2773.5975.0189.1093.8397.10100.58106.64111.52
1.31-4.19-3.133.055.44-11.172.6616.924.721.9418.785.323.483.596.024.57
48.8550.1849.8049.9549.5348.4547.5445.6444.6245.8345.1645.1645.1645.1645.1645.16
31.9331.4230.2131.2232.6428.3628.5732.0732.8334.3840.2442.3843.8545.4248.1650.36
8.067.968.599.1910.139.339.7910.4910.4810.7512.6114.4615.5116.4018.4919.62
12.3312.7014.1614.7015.3715.9416.3014.9314.2414.3314.1615.4115.9816.3117.3417.59
-2.934.491.265.316.576.036.85-1.06-40.799.125.968.629.4610.1712.2413.91
-166.29-253.32-71.93321.6823.73-8.2113.53-115.533,737.06-122.35-34.6844.679.857.4720.3113.66
9.009.0010.0016.0018.0021.0022.0024.0027.0027.0027.0029.0030.6532.39––
12.50–11.1160.0012.5016.674.769.0912.50––7.415.695.68––
153.00153.00153.00153.00151.00147.00144.00139.84136.09132.92132.54132.54132.54132.54132.54132.54
Details

Income Statement Key Figures

ⓘ

Revenue and Revenue Growth

Revenue is the starting point of every income statement — it measures the total sales Carlsberg A/S generates from its core business. Revenue growth (expressed as year-over-year percentage change) is one of the most important indicators of business momentum. Sustained growth above 10 % annually is generally considered strong, while declining revenue is a serious warning sign that demands investigation.

Gross Margin

Gross margin = (Revenue − Cost of Goods Sold) ÷ Revenue. It reveals what percentage of each dollar of revenue Carlsberg A/S retains after direct production costs. High gross margins (above 50 %) are typical of asset-light businesses like software and brands, while capital-intensive industries like manufacturing often operate below 30 %. Compare Carlsberg A/S's gross margin to industry peers and track it over time to spot improving or deteriorating pricing power.

EBIT and EBIT Margin

EBIT measures operating profit — what remains after subtracting all operating expenses (including R&D, sales, and administrative costs) from gross profit. The EBIT margin shows this as a percentage of revenue. Because it excludes interest and taxes, EBIT allows fair comparisons between companies with different debt levels and tax jurisdictions. A rising EBIT margin indicates improving operational efficiency.

Net Income and Earnings Per Share (EPS)

Net income is the company's final profit after all expenses, interest, and taxes. Dividing net income by the number of shares outstanding gives you EPS — the single most influential metric in stock valuation. Consistent EPS growth is the primary driver of long-term stock price appreciation. Always check whether EPS growth comes from genuine profit improvement or from share buybacks reducing the share count.

Shares Outstanding

The total number of shares Carlsberg A/S has issued. A declining share count (through buybacks) boosts EPS and signals management confidence. A rising share count (through stock issuance) dilutes existing shareholders. Always monitor this number alongside EPS to get the full picture of per-share value creation.

Analyst Estimates

The projected figures represent consensus estimates from professional analysts. Compare these forecasts against Carlsberg A/S's historical growth rates to assess whether expectations are realistic. A company that consistently beats consensus estimates tends to see its stock price rewarded over time, while repeated misses erode investor confidence.

Carlsberg A/S stock margins

The Carlsberg A/S margin analysis displays the gross margin, EBIT margin, as well as the profit margin of Carlsberg A/S. The EBIT margin (EBIT/sales) indicates the percentage of sales that remains as operating profit. The profit margin shows the percentage of sales that remains for Carlsberg A/S.

  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Gross margin
EBIT margin
Profit margin
Details
Date
Gross margin
EBIT margin
Profit margin
Jan 1, 2021
47.54 %
16.30 %
11.39 %
Jan 1, 2022
45.64 %
14.93 %
-1.51 %
Jan 1, 2023
44.62 %
14.24 %
-55.43 %
Jan 1, 2024
45.83 %
14.33 %
12.15 %
Jan 1, 2025
45.16 %
14.16 %
6.68 %
Jan 1, 2026 (e)
45.16 %
15.41 %
9.18 %
Jan 1, 2027 (e)
45.16 %
15.98 %
9.75 %
Jan 1, 2028 (e)
45.16 %
16.31 %
10.11 %

Carlsberg A/S Stock Revenue, EBIT, Earnings per Share

The Carlsberg A/S earnings per share therefore indicates how much revenue Carlsberg A/S has generated per share in a given period. The earnings before interest and taxes per share shows how much of the operating profit corresponds to each share. The earnings per share indicates how much of the profit belongs to each share.

  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Revenue per Share
EBIT per share
Earnings per Share
Details
Date
Revenue per Share
EBIT per share
Earnings per Share
Jan 1, 2021
417.34 DKK
68.01 DKK
47.54 DKK
Jan 1, 2022
502.49 DKK
75.02 DKK
-7.60 DKK
Jan 1, 2023
540.71 DKK
76.99 DKK
-299.72 DKK
Jan 1, 2024
564.32 DKK
80.88 DKK
68.58 DKK
Jan 1, 2025
672.21 DKK
95.16 DKK
44.93 DKK
Jan 1, 2026 (e)
707.97 DKK
109.12 DKK
65.00 DKK
Jan 1, 2027 (e)
732.60 DKK
117.05 DKK
71.41 DKK
Jan 1, 2028 (e)
758.89 DKK
123.76 DKK
76.74 DKK

Carlsberg A/S business model & stock analysis

Carlsberg A/S is a Danish company that was founded in 1847 by J.C. Jacobsen. Carlsberg is one of the largest brewing companies in the world and distributes its products in over 150 countries. Its business model focuses on producing and distributing high-quality beer and beverage brands. The company's core brands are Carlsberg, Tuborg, Baltika, and Holsten. Carlsberg also offers a wide range of regional and niche brands, as well as non-alcoholic and low-alcohol beverages. Carlsberg is divided into several business areas, including Carlsberg Breweries and Carlsberg Supply Company. Carlsberg Breweries handles the production and distribution of beer and owns 75 breweries worldwide. Carlsberg Supply Company is responsible for the supply of raw materials and packaging materials to the breweries, as well as manufacturing machinery and equipment used in the brewing industry. Carlsberg Asia focuses on the Asian market and is one of the largest beer producers in this region, distributing its products in countries such as China, Hong Kong, India, Malaysia, and Vietnam. Carlsberg is committed to sustainability and responsibility, aiming to be climate neutral by 2030 and reduce water consumption by 50%. The company also promotes responsible alcohol consumption and collaborates with local communities to support health and safety projects. In summary, Carlsberg A/S is a leading company in the beer and beverage industry, focusing on the production and distribution of high-quality products. It has a long history and operates in various parts of the world. Carlsberg is divided into different business areas that cover production, distribution, supply, and manufacturing machinery and equipment. The company is also dedicated to sustainability and responsibility, actively promoting responsible alcohol consumption.

Carlsberg A/S SWOT Analysis

Strengths

Carlsberg A/S has a strong brand reputation and is recognized globally for its high-quality beers.

The company has a diverse portfolio of well-established and popular beer brands.

Carlsberg is known for its focus on innovation and continuous product development.

The company has a strong distribution network, allowing its products to reach a wide range of customers.

Weaknesses

Carlsberg has faced criticism for its environmental impact due to its packaging and production processes.

The company heavily relies on the beer market and may be vulnerable to fluctuations in consumer preferences and consumption habits.

Carlsberg has reported declining sales in some markets, indicating potential weaknesses in its marketing and sales strategies.

Opportunities

The growing trend of craft beer consumption presents an opportunity for Carlsberg to expand its portfolio with craft beer offerings.

Expanding into emerging markets, such as Asia, can help Carlsberg tap into new consumer bases and increase its market share.

Carlsberg can leverage its strong brand reputation to capitalize on the increasing demand for premium and specialty beers.

The rise of e-commerce provides an opportunity for Carlsberg to enhance its online sales channels and reach a wider customer base.

Threats

Intense competition within the global beer industry poses a threat to Carlsberg's market position and profitability.

Changing regulations and policies related to alcohol consumption can impact Carlsberg's operations and sales.

Economic downturns and fluctuations in exchange rates can negatively affect Carlsberg's financial performance.

The increasing health consciousness among consumers may lead to a decline in overall beer consumption.

Carlsberg A/S Eulerpool Fair Value

Details

Fair Value Estimate

ⓘ

What Is Fair Value?

Fair value is an estimate of what a stock is truly "worth" based on its financial fundamentals, independent of the current market price. If the calculated fair value is above the current share price, the stock may be undervalued — and vice versa. This chart shows three different fair value approaches so you can cross-check them against each other.

Earnings-Based Fair Value

Calculated by multiplying the current earnings per share (EPS) by the average historical P/E ratio over a selected multi-year period. The smoothing over several years filters out temporary spikes or dips. If this fair value exceeds the market price, it suggests the stock is cheap relative to its earning power.

Example: Fair Value (Earnings) 2022 = EPS 2022 × Average P/E 2019–2021

Revenue-Based Fair Value

Derived by multiplying revenue per share by the average historical price-to-sales ratio. This method is particularly useful for companies with volatile or temporarily depressed earnings, as revenue tends to be more stable than profits. It answers: "At what price has the market historically valued each dollar of this company's sales?"

Example: Fair Value (Revenue) 2022 = Revenue per Share 2022 × Average P/S 2019–2021

Dividend-Based Fair Value

Calculated by dividing the dividend per share by the average historical dividend yield. This approach is most relevant for mature, consistently dividend-paying companies. If the resulting fair value is higher than the current price, it implies the stock offers a better yield than its historical average.

Example: Fair Value (Dividend) 2022 = Dividend per Share 2022 ÷ Average Yield 2019–2021

How to Use This Chart

When all three fair value lines converge above the current price, it strengthens the case that the stock is undervalued. When they diverge, investigate why — it may indicate a structural shift in margins, payout policy, or growth rate. The forward estimates on the right extend the analysis using projected fundamentals, helping you assess whether the current price already reflects future growth expectations.

Carlsberg A/S historical P/E ratio, EBIT multiple, and P/S ratio

Carlsberg A/S annual returns

Details

Annual Return

ⓘ

What This Chart Shows

This chart breaks down 's total annual return into two components: price return (gains or losses from stock price movement) and dividend return (income received from dividend payments). Together, they represent the total return an investor would have earned in each calendar year.

Price Return

Price return measures the percentage change in 's stock price from January 1st to December 31st of each year. Positive bars indicate the stock appreciated; negative bars show a decline. This is the component most investors focus on, but it tells only part of the story — especially for dividend-paying stocks.

Dividend Return

Dividend return represents the income generated from dividends paid during the year, expressed as a percentage of the starting stock price. While it may seem small in any single year (typically 1–4 % for established companies), dividends compound significantly over decades and have historically contributed roughly 40 % of total stock market returns.

What to Look For

Examine how many years showed positive vs. negative returns to gauge consistency. A stock with mostly positive years and small drawdowns suggests lower risk. Also compare 's annual returns to a benchmark index — consistently outperforming the market is a hallmark of a strong investment. Pay attention to the worst years: understanding downside risk is just as important as chasing upside potential.

Carlsberg A/S shares outstanding

The number of shares of Carlsberg A/S was 132.54 M in 2025. This indicates how many shares Carlsberg A/S is divided into. Since shareholders are the owners of a company, each share represents a small portion of the company's ownership.

  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Number of stocks
Details
Date
Number of stocks
Jan 1, 2021
144.00 M Stocks
Jan 1, 2022
139.84 M Stocks
Jan 1, 2023
136.09 M Stocks
Jan 1, 2024
132.92 M Stocks
Jan 1, 2025
132.54 M Stocks
Jan 1, 2026 (e)
132.54 M Stocks
Jan 1, 2027 (e)
132.54 M Stocks
Jan 1, 2028 (e)
132.54 M Stocks

Carlsberg A/S stock splits

In Carlsberg A/S's history, there have been no stock splits.

Carlsberg A/S Dividend History

36 years of dividend payments

YearAnnual DividendYoY ChangePayments
202629.00DKKYTD—1×
Mar 17, 202629.00DKK↑ 7.4%1/1
202527.00DKK 0.0%1×
Mar 18, 202527.00DKK 0.0%1/1
202427.00DKK 0.0%1×
202327.00DKK↑ 12.5%1×
202224.00DKK↑ 9.1%1×
202122.00DKK↑ 4.8%1×
202021.00DKK↑ 16.7%1×
201918.00DKK↑ 12.5%1×
201816.00DKK↑ 60.0%1×
201710.00DKK↑ 11.1%1×

Carlsberg A/S dividend history and estimates

In 2025, Carlsberg A/S paid a dividend amounting to 27.00 DKK. Dividend means that Carlsberg A/S distributes a portion of its profits to its owners.

  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Dividend
Details
Date
Dividend
Dividend (Estimate)
Jan 1, 2021
22.00 DKK
0.00 DKK
Jan 1, 2022
24.00 DKK
0.00 DKK
Jan 1, 2023
27.00 DKK
0.00 DKK
Jan 1, 2024
27.00 DKK
0.00 DKK
Jan 1, 2025
27.00 DKK
0.00 DKK
Jan 1, 2026
29.00 DKK
0.00 DKK
Jan 1, 2027 (e)
0.00 DKK
30.65 DKK
Jan 1, 2028 (e)
0.00 DKK
32.39 DKK

Carlsberg A/S dividend payout ratio

In 2025, Carlsberg A/S had a payout ratio of 60.09%. The payout ratio indicates the percentage of the company's profits that Carlsberg A/S distributes as dividends.

  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Payout ratio
Details
Date
Payout ratio
Jan 1, 2021
46.28 %
Jan 1, 2022
-315.79 %
Jan 1, 2023
-9.01 %
Jan 1, 2024
39.37 %
Jan 1, 2025
60.09 %
Jan 1, 2026 (e)
44.61 %
Jan 1, 2027 (e)
42.92 %
Jan 1, 2028 (e)
42.20 %

Current Carlsberg A/S forecasts and price targets in August 2026

Analyst Price Targets 2026
Δ MOM Price Target
6.93 %
Buy
73.33 % (22)
Hold
23.33 % (7)
Sell
3.33 % (1)
12M Price Target
1,101.60
Last Price
916.20
Currency
DKK
12M Return Potential
20.24 %
LTM Return
0 %

Carlsberg A/S Earnings Estimates & Surprises

DateEPS estimateEPS ActualRevenue EstimatePrice reactionQuarterly report
2/5/202411.66DKK-22.50 BDKK-2023 Q4
8/17/202220.78DKK-19.91 BDKK-2022 Q2
8/13/2020-DKK-16.30 BDKK-2020 Q2
5/14/2020-DKK-13.02 BDKK-2020 Q1
2/10/20163.51DKK-14.20 BDKK-2015 Q4
11/11/201512.99DKK-18.17 BDKK-2015 Q3
8/19/201512.97DKK-19.39 BDKK-2015 Q2
5/12/20150.28DKK-13.23 BDKK-2015 Q1
2/18/20156.53DKK-15.12 BDKK-2014 Q4
11/10/201414.16DKK-18.07 BDKK-2014 Q3

EESG©

Eulerpool ESG Scorecard© for the Carlsberg A/S stock

68/100
51
Environment
84
Social
70
Governance
E

Environment

20
Scope 1 - Direct Emissions331,000
Scope 2 - Indirect emissions from purchased energy300,000
Scope 3 - Indirect emissions within the value chain7,832,000
Total CO₂ emissions631,000
CO₂ reduction strategy
Coal energy
Nuclear power
Animal experiments
Fur & Leather—
Pesticides—
Palm Oil—
Tobacco
Genetically modified organisms
Climate concept—
Sustainable forestry—
Recycling regulations
Environmentally friendly packaging
Hazardous substances
Fuel consumption and efficiency
Water consumption and efficiency
S

Social

20
Percentage of female employees27.05
Percentage of women in management—
Percentage of Asian employees—
Share of Asian management—
Percentage of Hispanic/Latino employees—
Hispano/Latino Management share—
Percentage of Black employees—
Black Management Share—
Percentage of white employees—
White Management Share—
Adult content
Alcohol
Weapons—
Firearms
Gambling
Military contracts
Human rights concept
Privacy concept—
Occupational health and safety
Catholic
G

Governance (Corporate Governance)

4
Environmental reporting
Stakeholder Engagement
Call Back Policies
Antitrust law

The Eulerpool ESG Scorecard© is the strictly copyrighted intellectual property of Eulerpool Research Systems. Any unauthorized use, imitation, or infringement will be actively pursued and may lead to significant legal consequences. For licenses, collaborations, or usage rights, please contact us directly via our contact form. Contact Form to us.

Carlsberg A/S shareholder structure

% Name
4.78451%
Capital World Investors
Capital World Investors
2.72022%
MFS Investment Management
MFS Investment Management
2.23134%
The Vanguard Group, Inc.
The Vanguard Group, Inc.
2.06550%
M&G Investment Management Ltd.
M&G Investment Management Ltd.
1.89865%
Capital Research Global Investors
Capital Research Global Investors
1.44778%
DWS Investment GmbH
DWS Investment GmbH
...

Carlsberg A/S Executives and Management Board

24 members · avg. age 56 · 33 % women

JA

Mr. Jacob Aarup-Andersen (48)

Group Chief Executive Officer, Member of the Executive Committee

39.70 M DKK

Management

UF

Ms. Ulrica Fearn (52)

Chief Financial Officer, Member of the Executive Committee

19.00 M DKK
SS

Ms. Susanne Skippari (51)

Chief Human Resources Officer, Member of the Executive Committee

–
JA

Mr. Joao Abecasis (53)

Executive Vice President - Asia, Member of the Executive Committee

–
SB

Mr. Soren Brinck (51)

Executive Vice President, Western Europe and Member of the Executive Committee

–
NK

Mr. Nikos Kalaitzidakis (57)

Executive Vice President, Central & Eastern Europe and India and Member of the Executive Board

–
VS

Mr. Victor Shevtsov (55)

Executive Vice President - Supply Chain, Member of the Executive Committee

–

Board of Directors

HP

Mr. Henrik Poulsen (57)

Non-Executive Independent Chairman of the Supervisory Board · since 2021

2.12 M DKK
MS

Ms. Majken Schultz (66)

Non-Executive Deputy Chairman of the Supervisory Board · since 2019

1.12 M DKK
LB

Ms. Lilian Fossum Biner (63)

Non-Executive Independent Member of the Supervisory Board

1.00 M DKK
MB

Dr. Magdi Batato (66)

Non-Executive Independent Member of the Supervisory Board

940,000.00 DKK
RK

Mr. Robert Kunze-concewitz (58)

Non-Executive Independent Member of the Supervisory Board

650,000.00 DKK
PL

Ms. Punita Lal (62)

Non-Executive Independent Member of the Supervisory Board

650,000.00 DKK

Frequently asked questions about Carlsberg A/S

The business model of Carlsberg A/S revolves around the production, distribution, and marketing of alcoholic beverages. As a leading global brewery group, Carlsberg utilizes a multi-brand strategy, offering a diverse portfolio of brands including Carlsberg, Tuborg, Baltika, Somersby, and more. The company focuses on the production of beer and other beverages, aiming to satisfy consumer demand across various markets. With an emphasis on innovation, quality, and responsible drinking, Carlsberg A/S aims to establish strong partnerships, cultivate consumer loyalty, and drive sustainable growth in the global alcoholic beverage industry.

Carlsberg A/S is primarily active in the alcoholic beverages industry.

The main competitors of Carlsberg A/S in the market are Anheuser-Busch InBev, Heineken NV, and China Resources Snow Breweries.

Carlsberg A/S, founded in 1847 and headquartered in Denmark, is a renowned global brewing company. It boasts a rich history and a strong background in the beverage industry. Carlsberg A/S was established by J.C. Jacobsen and is now one of the leading beer producers worldwide. The company's success stems from its dedication to quality, innovation, and sustainability. Carlsberg A/S has expanded its operations and brand presence across numerous countries, offering a diverse range of beers, ciders, and non-alcoholic beverages. With a global reputation for excellence, Carlsberg A/S continues to uphold its legacy as an esteemed and influential player in the brewing industry.

Carlsberg A/S, a renowned global brewing company, has achieved several significant milestones throughout its rich history. In 1847, J.C. Jacobsen founded the company, with its first brewery established in Copenhagen, Denmark. Carlsberg A/S expanded its footprint globally by establishing breweries in various countries such as Sweden, Russia, and the UK. Over the years, the company has introduced innovative brewing techniques, including the development of yeast strains used in Carlsberg Lager. Carlsberg A/S has also demonstrated its commitment to sustainability, aiming to be carbon-neutral by 2030. Recently, the company unveiled its ambitious "Together Towards ZERO" initiative, focusing on water efficiency, responsible drinking, and eliminating carbon emissions. These achievements highlight Carlsberg A/S's relentless pursuit of excellence within the brewing industry.

Carlsberg A/S is primarily present in various countries and regions worldwide. The company has a strong presence in Scandinavia, including Denmark, Norway, and Sweden, where it originated. Additionally, Carlsberg A/S has established a significant presence in Eastern Europe, with operations in countries such as Russia, Ukraine, and Poland. It also has a significant market share in Western Europe, including the United Kingdom, France, and Germany. Carlsberg A/S has expanded its reach to Asia as well, with a presence in countries like China and India. With its global footprint, Carlsberg A/S has successfully become a prominent player in the international brewing industry.

Carlsberg A/S is a renowned global brewing company. With a rich history spanning over 170 years, Carlsberg represents values of quality, innovation, and social responsibility. The company's corporate philosophy revolves around delivering exceptional experiences to consumers, crafting top-notch brews, and fostering a sustainable future for both the business and the communities it operates in. Carlsberg places a strong emphasis on integrity, transparency, and accountability, ensuring ethical practices throughout its operations. By constantly pushing boundaries and investing in research and development, Carlsberg A/S strives to be at the forefront of the brewing industry, fulfilling its mission to brew for a better today and tomorrow.

Analysts currently set an average price target of 1,073.79 DKK for the Carlsberg A/S stock (median: 1,101.60 DKK), implying +17.2 % versus the latest price. The consensus is based on 30 analyst ratings.

Carlsberg A/S Analyst Price Targets 2026

30 analysts currently rate the Carlsberg A/S stock: 21 recommend buying, 7 holding and 2 selling. For 2026, analysts expect Carlsberg A/S to generate revenue of 93.83 B DKK and earnings per share of 65.00 DKK.

Carlsberg A/S Analyst Price Targets 2026

Converted at the current exchange rate, the Carlsberg A/S share trades at 122.56 EUR (916.20 DKK).

The Carlsberg A/S share (CARL B.CO) is listed on 9 stock exchanges, including: Frankfurt (CBGB.F), München (CBGB.MU), Düsseldorf (CBGB.DU), London (0AI4.L), SIX (Zürich) (CARLB.SW), Wien (CARL.VI).

Carlsberg A/S is an international company operating in the brewing industry. It was founded in Denmark in 1847 and today is one of the largest brewery conglomerates in the world. The company operates numerous production facilities and sales offices in various countries, including Germany. Its core business is the production and distribution of beer and other alcoholic beverages. Carlsberg A/S offers a variety of brands and types of beer, which may vary depending on the country and region. Some of its most well-known products include the beer brands Carlsberg, Tuborg, and Kronenbourg 1664. The company divides its business into three main areas: Europe, Asia, and Corporate and Sales. The European division includes all countries in Europe where the company is active, including major markets such as Germany, the United Kingdom, and Russia. Carlsberg A/S has a strong presence in Asia, with production facilities and sales offices in countries such as China, Vietnam, Cambodia, and India. The Asian market will continue to play an important role for the company, as beer consumption in this region is steadily increasing. The Corporate and Sales division encompasses all activities related to marketing, sales, logistics, and delivery of beer and other products. Carlsberg A/S works closely with retail chains and hospitality establishments to sell its products worldwide. In order to be successful in a highly competitive market, Carlsberg A/S focuses on innovation and differentiation. The company has introduced numerous new products in recent years, including non-alcoholic and gluten-free beer varieties, to reach new target groups and increase customer loyalty. Another important business field for Carlsberg A/S is the development and implementation of sustainability strategies. The company actively promotes environmental protection and social responsibility, working to reduce its carbon footprint and develop sustainable production methods. Overall, Carlsberg A/S is a leading company in the brewing industry, distinguished by its strong market position, innovation, and sustainability. With its wide range of products, strong distribution network, and clear growth strategy, the company is well positioned to remain successful in the future.

The expected revenue of Carlsberg A/S is 93.83 B DKK. This figure is based on current financial data and reflects the company's business performance.

The expected profit of Carlsberg A/S is 8.62 B DKK. The net profit reflects the company's profitability after deducting all expenses.

The price-to-earnings ratio (P/E) of Carlsberg A/S is currently 14.10. The P/E ratio compares the current share price to the earnings per share and helps investors assess the valuation of the Carlsberg A/S stock.

The price-to-sales ratio (P/S) of Carlsberg A/S is currently 1.29. The P/S ratio compares the market capitalization to the annual revenue and serves as a valuation metric for the Carlsberg A/S stock.

The Eulerpool Quality Score for Carlsberg A/S is 4/10.

The ISIN of Carlsberg A/S is DK0010181759. The ISIN (International Securities Identification Number) is a globally unique identifier for securities.

The WKN of Carlsberg A/S is 861061. The WKN (Wertpapierkennnummer) is a six-digit German security identification number.

The ticker of Carlsberg A/S is CARL B.CO. The ticker symbol is used to trade Carlsberg A/S shares on the stock exchange.

Over the past 12 months, Carlsberg A/S paid a dividend of 27.00 DKK . This corresponds to a dividend yield of about 2.95 %. For the coming 12 months, Carlsberg A/S is expected to pay a dividend of 30.65 DKK.

The current dividend yield of Carlsberg A/S is 2.95 %.

Carlsberg A/S pays a dividend, distributed in the months of , , , .

Carlsberg A/S paid dividends every year for the past 25 years.

For the upcoming 12 months, dividends amounting to 30.65 DKK are expected. This corresponds to a dividend yield of 3.35 %.

Carlsberg A/S is assigned to the 'Non-cyclical consumption' sector.

To receive the latest dividend of Carlsberg A/S from amounting to 29 DKK, you needed to have the stock in your portfolio before the ex-date on .

The last dividend was paid out on .

In the year 2025, Carlsberg A/S distributed 27 DKK as dividends.

The dividends of Carlsberg A/S are distributed in DKK.

All fundamentals and in-depth analysis of Carlsberg A/S

Our stock analysis for Carlsberg A/S stock includes important financial indicators such as revenue, profit, P/E ratio, P/S ratio, EBIT, as well as information on dividends. We also assess aspects such as stocks, market capitalization, debt, equity, and liabilities of Carlsberg A/S. If you are looking for more detailed information on these topics, we offer comprehensive analyses on our subpages.

Carlsberg A/S Stock
Carlsberg A/S Revenue→
Carlsberg A/S Stock
Carlsberg A/S Net Income→
Carlsberg A/S Stock
Carlsberg A/S P/E→
Carlsberg A/S Stock
Carlsberg A/S P/S→
Carlsberg A/S Stock
Carlsberg A/S EBIT→
Carlsberg A/S Stock
Carlsberg A/S Dividend→
Carlsberg A/S Stock
Carlsberg A/S Directors Dealings→
Carlsberg A/S Stock
Carlsberg A/S Stocks→
Carlsberg A/S Stock
Carlsberg A/S Market capitalization→
Carlsberg A/S Stock
Carlsberg A/S Debt→
Carlsberg A/S Stock
Carlsberg A/S Liabilities→
Carlsberg A/S Stock
Carlsberg A/S Equity→
Carlsberg A/S Stock
Carlsberg A/S AAQS→
Carlsberg A/S Stock
Carlsberg A/S Employees→
Carlsberg A/S Stock
Carlsberg A/S ROE→
Carlsberg A/S Stock
Carlsberg A/S ROA→
Carlsberg A/S Stock
Carlsberg A/S ROCE→
Carlsberg A/S Stock
Carlsberg A/S News→
Carlsberg A/S Stock
Carlsberg A/S Analyst Price Targets→

Non-cyclical consumption Stocks

Carmel CorpCareRxCarmit Candy IndustriesCarabao Group PCLCarozziCanada PackersCarrefourCampina Ice Cream Industry Tbk PTCaseys General StoresCampbell'sCasino Guichard PerrachonCamimex Group JSCAll Stocks A–Z →