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About the company

Carlsberg A/S is a Denmark-based company active within the brewing industry. It is primarily engaged in the production, marketing and sale of beer and soft drinks. The Company’s beer portfolio spans core beer brands, craft & speciality brands and alcohol-free brews.Its operations are divided in geographical segments: Western Europe, Asia and Eastern & Central Europe. The Company is also present in a number of markets where it does not operate its own breweries, through license business and export.

  • Revenue in DKK (TTM)89.10bn
  • Net income in DKK5.96bn
  • Incorporated1900
  • Employees36.96k
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Peer analysis

Key Information
CompanyRevenue (TTM)Net income (TTM)Market capEmployeesPrice/earnings (TTM)Price/book value (MRQ)Price/cash flow (TTM)Price/sales (TTM)EPS (excl. extraordinary items, TTM)EPS (incl. extraordinary items, TTM)Revenue per share (TTM)Book value per share (MRQ)Asset turnover (TTM)Inventory turnover (TTM)Receivables turnover (TTM)Revenues per employee (TTM)Return on avg assets (TTM)Return on avg assets (5 yr avg)Return on investment (TTM)Return on investment (5 yr avg)Gross margin (TTM)Gross margin
(5 yr avg)
Net profit margin (TTM)Net Profit margin
(5 yr avg)
Quick ratio (MRQ)Interest coverage (TTM)Total debt to capital (MRQ)Payout ratio
(5 yr avg)
Revenue
(YOY change %)
Revenue
(5 yr growth rate)
Net income
(YOY change %)
Net income
(5 yr growth rate)
Capital expenditure
(5 yr growth rate)
Dividend
(5 yr growth rate)
Royal UNIBREW A/S15.52bn1.45bn32.08bn4.24k22.034.83--2.0729.0029.00310.40132.230.84375.777.433,660,142.007.8710.1212.2314.6542.8144.639.3211.740.35048.380.482454.8116.3114.3433.705.0925.704.22
Davide Campari Milano NV22.97bn1.41bn59.90bn4.99k40.443.2125.472.610.1610.1612.562.030.37570.73326.79601,134.102.224.572.595.5458.6558.425.9110.500.91334.220.423526.065.1810.75-39.00-8.1537.983.40
Carlsberg A/S89.10bn5.96bn135.91bn36.96k22.264.7610.861.5344.9644.96672.21210.360.66677.4814.092,410,318.005.226.548.3610.8645.1645.677.8310.710.4567.920.697254.5418.788.76-13.17-0.254.935.68
Heineken Holding NV214.74bn7.11bn152.66bn87.87k20.932.294.680.71093.393.39102.2631.050.53765.406.33327,142.404.004.777.849.3335.7664.637.448.800.694315.860.486742.56-3.327.8391.16--7.9322.10
Pernod Ricard SA81.87bn12.15bn160.07bn18.22k13.151.4010.371.966.466.4643.5360.460.28740.5337.15601,349.904.404.935.536.0459.4659.9515.3016.300.60146.480.436962.98-5.515.3410.1637.4012.8112.06
Heineken NV214.79bn14.08bn335.37bn87.87k23.012.4310.441.563.393.3951.6232.070.53486.716.34327,222.003.984.755.796.8720.2147.487.448.780.691215.980.483342.74-3.897.8392.74--7.9322.10
Diageo plc127.65bn14.84bn345.24bn29.63k23.284.9316.052.700.77540.77546.673.660.42710.79225.79501,438.205.358.647.2411.7460.1360.3512.5419.630.638414.340.643161.84-0.11846.47-39.175.8212.83-6.47
Data as of Feb 17 2026. Currency figures normalised to Carlsberg A/S's reporting currency: Danish Krone DKK

Institutional shareholders

25.66%Per cent of shares held by top holders
HolderShares% Held
Capital Research & Management Co. (World Investors)as of 05 Feb 20265.69m5.75%
The Vanguard Group, Inc.as of 31 Dec 20253.37m3.41%
MFS International Singapore Pte Ltd.as of 31 Dec 20253.21m3.24%
M&G Investment Management Ltd.as of 31 Oct 20252.09m2.11%
Norges Bank Investment Managementas of 30 Jun 20251.97m1.99%
JPMorgan Asset Management (UK) Ltd.as of 12 Feb 20261.96m1.98%
DWS Investment GmbHas of 05 Feb 20261.90m1.92%
BlackRock Fund Advisorsas of 06 Feb 20261.85m1.87%
Capital Research & Management Co. (Global Investors)as of 05 Feb 20261.68m1.70%
ELEVA Capital SASas of 30 Jun 20251.67m1.69%
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Data from 30 Sep 2025 - 31 Dec 2025Source: FactSet Research Systems Inc.
Data Provided by LSEG
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