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Carlsberg is the third-largest brewer in the world after Anheuser-Busch InBev and Heineken. It holds leading share in Scandinavia, western China, and several other markets in Asia. Its key brands include Carlsberg, 1664, Tuborg, Holsten, and Somersby. The company's 2024 beverage volume was split among Western Europe (34%), Eastern Europe and India (30%), and Asia (36%).
1847
32.6K+
LTM Revenue $12.4B
LTM EBITDA $2.5B
$22.9B
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
Carlsberg has a last 12-month revenue (LTM) of $12.4B and a last 12-month EBITDA of $2.5B.
In the most recent fiscal year, Carlsberg achieved revenue of $11.3B and an EBITDA of $2.4B.
Carlsberg expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Carlsberg valuation multiples based on analyst estimates| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue | $12.4B | XXX | $11.3B | XXX | XXX | XXX |
| Gross Profit | $5.0B | XXX | $5.2B | XXX | XXX | XXX |
| Gross Margin | 40% | XXX | 46% | XXX | XXX | XXX |
| EBITDA | $2.5B | XXX | $2.4B | XXX | XXX | XXX |
| EBITDA Margin | 21% | XXX | 21% | XXX | XXX | XXX |
| EBIT | $1.8B | XXX | $1.6B | XXX | XXX | XXX |
| EBIT Margin | 15% | XXX | 14% | XXX | XXX | XXX |
| Net Profit | $1.2B | XXX | $1.4B | XXX | XXX | XXX |
| Net Margin | 10% | XXX | 12% | XXX | XXX | XXX |
| Net Debt | XXX | XXX | $3.7B | XXX | XXX | XXX |
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As of May 30, 2025, Carlsberg's stock price is DKK 952 (or $143).
Carlsberg has current market cap of DKK 126B (or $18.9B), and EV of DKK 152B (or $22.9B).
See Carlsberg trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $22.9B | $18.9B | XXX | XXX | XXX | XXX | $8.15 |
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Start Free TrialAs of May 30, 2025, Carlsberg has market cap of $18.9B and EV of $22.9B.
Carlsberg's trades at 2.0x EV/Revenue multiple, and 9.6x EV/EBITDA.
Equity research analysts estimate Carlsberg's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Carlsberg has a P/E ratio of 15.9x.
See valuation multiples for Carlsberg and 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $18.9B | XXX | $18.9B | XXX | XXX | XXX |
| EV (current) | $22.9B | XXX | $22.9B | XXX | XXX | XXX |
| EV/Revenue | 1.9x | XXX | 2.0x | XXX | XXX | XXX |
| EV/EBITDA | 9.0x | XXX | 9.6x | XXX | XXX | XXX |
| EV/EBIT | 12.5x | XXX | 14.2x | XXX | XXX | XXX |
| EV/Gross Profit | 4.6x | XXX | n/a | XXX | XXX | XXX |
| P/E | 15.9x | XXX | 13.8x | XXX | XXX | XXX |
| EV/FCF | 25.1x | XXX | 24.2x | XXX | XXX | XXX |
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Start Free TrialCarlsberg's last 12 month revenue growth is 14%
Carlsberg's revenue per employee in the last FY averaged $0.3M, while opex per employee averaged $0.1M for the same period.
Carlsberg's rule of 40 is 35% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Carlsberg's rule of X is 57% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
See operational valuation multiples for Carlsberg and other 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 14% | XXX | 13% | XXX | XXX | XXX |
| EBITDA Margin | 21% | XXX | 21% | XXX | XXX | XXX |
| EBITDA Growth | 15% | XXX | 12% | XXX | XXX | XXX |
| Rule of 40 | 35% | XXX | 35% | XXX | XXX | XXX |
| Bessemer Rule of X | XXX | XXX | 57% | XXX | XXX | XXX |
| Revenue per Employee | XXX | XXX | $0.3M | XXX | XXX | XXX |
| Opex per Employee | XXX | XXX | $0.1M | XXX | XXX | XXX |
| S&M Expenses to Revenue | XXX | XXX | 26% | XXX | XXX | XXX |
| G&A Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| R&D Expenses to Revenue | XXX | XXX | 0% | XXX | XXX | XXX |
| Opex to Revenue | XXX | XXX | 32% | XXX | XXX | XXX |
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| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| Heineken | XXX | XXX | XXX | XXX | XXX | XXX |
| Endeavour Group | XXX | XXX | XXX | XXX | XXX | XXX |
| Treasury Wine Estates | XXX | XXX | XXX | XXX | XXX | XXX |
| Domain Costa Lazaridi | XXX | XXX | XXX | XXX | XXX | XXX |
| United Spirits | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
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Carlsberg acquired XXX companies to date.
Last acquisition by Carlsberg was XXXXXXXX, XXXXX XXXXX XXXXXX . Carlsberg acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
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Start Free Trial| When was Carlsberg founded? | Carlsberg was founded in 1847. |
| Where is Carlsberg headquartered? | Carlsberg is headquartered in Denmark. |
| How many employees does Carlsberg have? | As of today, Carlsberg has 32.6K+ employees. |
| Who is the CEO of Carlsberg? | Carlsberg's CEO is Mr. Jacob Aarup-Andersen. |
| Is Carlsberg publicy listed? | Yes, Carlsberg is a public company listed on CSE. |
| What is the stock symbol of Carlsberg? | Carlsberg trades under CARL B ticker. |
| When did Carlsberg go public? | Carlsberg went public in 1993. |
| Who are competitors of Carlsberg? | Similar companies to Carlsberg include e.g. Heineken, Endeavour Group, Treasury Wine Estates, Domain Costa Lazaridi. |
| What is the current market cap of Carlsberg? | Carlsberg's current market cap is $18.9B |
| What is the current revenue of Carlsberg? | Carlsberg's last 12 months revenue is $12.4B. |
| What is the current revenue growth of Carlsberg? | Carlsberg revenue growth (NTM/LTM) is 14%. |
| What is the current EV/Revenue multiple of Carlsberg? | Current revenue multiple of Carlsberg is 1.9x. |
| Is Carlsberg profitable? | Yes, Carlsberg is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Carlsberg? | Carlsberg's last 12 months EBITDA is $2.5B. |
| What is Carlsberg's EBITDA margin? | Carlsberg's last 12 months EBITDA margin is 21%. |
| What is the current EV/EBITDA multiple of Carlsberg? | Current EBITDA multiple of Carlsberg is 9.0x. |
| What is the current FCF of Carlsberg? | Carlsberg's last 12 months FCF is $914M. |
| What is Carlsberg's FCF margin? | Carlsberg's last 12 months FCF margin is 7%. |
| What is the current EV/FCF multiple of Carlsberg? | Current FCF multiple of Carlsberg is 25.1x. |
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