Carlsberg A/S (CARL-B) Fair Value & Analysis
Consumer Defensive · DK · Market cap 120B DKK
Fair value as of: Jul 16, 2026
From 25 valuation models · updated 5 days ago
Fair value updated Jul 16, 2026, revised from kr 609.11 to kr 607.30 (−0.3%) since Jul 7, 2026. Share price +11.0% over the past month.
Price vs Fair Value (12 months)
12‑month range kr 714.65 – kr 981.82 · fair‑value band kr 302.18 – kr 1,096 · the kr 927.40 price screens above the kr 607.30 fair value. As of Jul 16, 2026.
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Carlsberg A/S (CARL-B) currently trades at kr 927.40, while our model-based Fair Value estimate is kr 607.30, implying the stock looks roughly 34.5% overvalued today. We read business quality at 58/100 (solid quality), in the Consumer Defensive sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Carlsberg A/S generated revenue of 89.1B DKK at a net margin of 6.7%. Revenue grew 18.2% year over year. It earns a return on equity of 22.8%. Net debt stands at 63.3B DKK. Fundamentals as of Jul 16, 2026
Our scenario range runs from kr 302.18 (bear case) to kr 1,096 (bull case); at kr 927.40, the current price sits within that range. The share trades about 6% below its 52-week high and 30% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at 31% fair-value upside, at -35%, CARL-B screens richer than that median.
Key figures & financial health
More key figures
Figures from reported company fundamentals (EODHD) · as of Jul 16, 2026. TTM = trailing twelve months.
About the company
Carlsberg A/S produces and markets beer, soft drinks, and other beverage products in Western Europe, Asia, Central and Eastern Europe, India, and internationally. The company was founded in 1847 and is headquartered in Copenhagen, Denmark.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Carlsberg A/S reported revenue of kr 89.1B in FY2025 versus kr 66.6B in FY2021, a compound +7.5%/yr. Reported net income was kr 6.0B in FY2025, compounding −3.4%/yr from FY2021.
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Recent news
- Stuck on the Sidelines: Carlsberg reveals Three-Quarters of Adults Will Watch Football This Summer, but a Third Haven't Played a Game in Six
- World Cup Stock Baskets May Mislead Investors
- Panera parent JAB brings new leadership to consumer portfolio
- Carlsberg Research Laboratory unlocks the genetic code of hops, helping protect the future of beer in a warming world
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection, not financial advice.
Similar stocks
10 more Beverages - Brewers stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Ambev S.A ABEV | 14,120 ARS | 5,676 ARS | -60% |
| Anheuser-Busch InBev SA BUDFF | $81.40 | $58.28 | -28% |
| 1NBA 1NBA | €71.18 | €60.88 | -14% |
| Fomento Económico Mexicano, S.A. FEMSAUBD | 213.28 MXN | 329.85 MXN | +55% |
| Heineken N.V HEIA | €71.00 | €64.89 | -9% |
| Constellation Brands, Inc STZ | $135.72 | $177.43 | +31% |
| Heineken Holding HEIO | €64.25 | €99.51 | +55% |
| Kirin Holdings KNBWF | $18.56 | $11.87 | -36% |
| Asahi Group ASBRF | $9.75 | $15.42 | +58% |
| Tsingtao Brewery Company 600600 | ¥53.92 | ¥129.19 | +140% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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Not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.