🚀 VC round data is live in beta, check it out!
Carlsberg Valuation Multiples
Discover revenue and EBITDA valuation multiples for Carlsberg and similar public comparables like Eastroc Beverage, Pernod Ricard, Heineken Holding, Asahi Group and more.
Carlsberg Overview
About Carlsberg
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 2025 beverage volume was split among Western Europe (42%), Eastern Europe and India (28%), and Asia (30%).
Founded
1847
HQ
Employees
37.0K
Website
Sectors
Financials (LTM)
EV
$29B
Carlsberg Financials
Carlsberg reported last 12-month revenue of $14B and EBITDA of $3B.
In the same LTM period, Carlsberg generated $6B in gross profit, $3B in EBITDA, and $1B in net income.
Revenue (LTM)
Carlsberg P&L
In the most recent fiscal year, Carlsberg reported revenue of $14B and EBITDA of $3B.
Carlsberg expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $14B | XXX | $14B | XXX | XXX | XXX |
| Gross Profit | $6B | XXX | $6B | XXX | XXX | XXX |
| Gross Margin | 40% | XXX | 44% | XXX | XXX | XXX |
| EBITDA | $3B | XXX | $3B | XXX | XXX | XXX |
| EBITDA Margin | 21% | XXX | 21% | XXX | XXX | XXX |
| EBIT Margin | 15% | XXX | 15% | XXX | XXX | XXX |
| Net Profit | $1B | XXX | $1B | XXX | XXX | XXX |
| Net Margin | 9% | XXX | 9% | XXX | XXX | XXX |
| Net Debt | — | — | $9B | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Carlsberg Stock Performance
Carlsberg has current market cap of $20B, and enterprise value of $29B.
Market Cap Evolution
Carlsberg's stock price is $150.70.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $29B | $20B | -0.7% | XXX | XXX | XXX | $9.63 |
Benchmark Trading Valuation Multiples by Industry
Sign up to access valuation multiples like growth-adjusted P/E, Rule of 40, next 12-month EV/Revenue, EBITDA multiples by industry, consensus analyst estimates and many more.
Start Free TrialCarlsberg Valuation Multiples
Carlsberg trades at 2.1x EV/Revenue multiple, and 9.8x EV/EBITDA.
EV / Revenue (LTM)
Carlsberg Financial Valuation Multiples
As of March 21, 2026, Carlsberg has market cap of $20B and EV of $29B.
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 15.5x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $20B | XXX | $20B | XXX | XXX | XXX |
| EV (current) | $29B | XXX | $29B | XXX | XXX | XXX |
| EV/Revenue | 2.1x | XXX | 2.1x | XXX | XXX | XXX |
| EV/EBITDA | 9.8x | XXX | 9.9x | XXX | XXX | XXX |
| EV/EBIT | 13.4x | XXX | 13.5x | XXX | XXX | XXX |
| EV/Gross Profit | 5.2x | XXX | 4.7x | XXX | XXX | XXX |
| P/E | 15.5x | XXX | 15.6x | XXX | XXX | XXX |
| EV/FCF | 25.9x | XXX | 26.8x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Carlsberg Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Carlsberg Margins & Growth Rates
Carlsberg's revenue in the last 12 month grew by 2%.
Carlsberg's revenue per employee in the last FY averaged $0.4M.
Carlsberg's rule of 40 is 23% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Carlsberg's rule of X is 26% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Carlsberg Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 2% | XXX | 2% | XXX | XXX | XXX |
| EBITDA Margin | 21% | XXX | 21% | XXX | XXX | XXX |
| EBITDA Growth | 3% | XXX | 3% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 23% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 26% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.4M | XXX | XXX | XXX |
| S&M Expenses to Revenue | 25% | XXX | 25% | XXX | XXX | XXX |
| G&A Expenses to Revenue | 6% | XXX | 5% | XXX | XXX | XXX |
| R&D Expenses to Revenue | — | XXX | 0% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 30% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Carlsberg Public Comps
See public comps and valuation multiples for other Alcohol comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Eastroc Beverage | XXX | XXX | XXX | XXX | XXX | XXX |
| Pernod Ricard | XXX | XXX | XXX | XXX | XXX | XXX |
| Heineken Holding | XXX | XXX | XXX | XXX | XXX | XXX |
| Asahi Group | XXX | XXX | XXX | XXX | XXX | XXX |
| Luzhou Laojiao | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Carlsberg M&A Activity
Carlsberg acquired XXX companies to date.
Last acquisition by Carlsberg was on XXXXXXXX, XXXXX. Carlsberg acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Carlsberg
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
Get Verified M&A Valuation Multiples
Sign up to see revenue and EBITDA valuation multiples for 150K+ M&A deals.
Start Free TrialCarlsberg Investment Activity
Carlsberg invested in XXX companies to date.
Carlsberg made its latest investment on XXXXXXXX, XXXXX. Carlsberg invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Carlsberg
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAbout Carlsberg
| 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 over 37K employees. |
| Who is the CEO of Carlsberg? | Carlsberg's CEO is Jacob Aarup-Andersen. |
| Is Carlsberg publicly listed? | Yes, Carlsberg is a public company listed on Nasdaq Copenhagen. |
| 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? | Carlsberg main competitors are Eastroc Beverage, Pernod Ricard, Heineken Holding, Asahi Group. |
| What is the current market cap of Carlsberg? | Carlsberg's current market cap is $20B. |
| What is the current revenue of Carlsberg? | Carlsberg's last 12 months revenue is $14B. |
| What is the current revenue growth of Carlsberg? | Carlsberg revenue growth (NTM/LTM) is 2%. |
| What is the current EV/Revenue multiple of Carlsberg? | Current revenue multiple of Carlsberg is 2.1x. |
| 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 $3B. |
| 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 9.8x. |
| What is the current FCF of Carlsberg? | Carlsberg's last 12 months FCF is $1B. |
| What is Carlsberg's FCF margin? | Carlsberg's last 12 months FCF margin is 8%. |
| What is the current EV/FCF multiple of Carlsberg? | Current FCF multiple of Carlsberg is 25.9x. |
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.