Royal Unibrew A/S (RBREW) fair value: what the stock is really worth
We calculate from audited financials what Royal Unibrew A/S is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily, free.
Compare price with fair valuebelow fair value = cheap, above = expensive
Check the quality50 and up solid, 75 and up strong
Watch it or check another stockalert when fair value or trend changes
A solid business, trading 35% below our fair value of kr 657.31.
As of Aug 29, 2026, the fair value of Royal Unibrew A/S is kr 657.31 per share against a price of kr 427.60, so the fair value sits 54% above the price. A model estimate from reported figures, not an analyst target.
✓Healthy Growth (revenue 5y +15.8 %/yr)
✓Solidly profitable · 10.1% net margin
✓Moderate debt · generates free cash flow
·3.74% dividend yield
✓Ranks above peers (10/15)
!Moderate moat 58/100
!Weak on future: 17 out of 100
Evidence: HighRange kr 347.20 to kr 853.29
Fair value as of: Aug 29, 2026
From 26 valuation models · updated 11 days ago
Share price −11.3% over the past month.
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69 individual criteria per stock, every one traceable See the method →
What matters now
Solid quality (62/100) at a price below fair value, the discount is the argument here, not the business quality.
A fairly wide model range (kr 347.20 to kr 853.29) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 29, 2026.
How to read this chart
60‑month range kr 358.91 – kr 740.84 · fair‑value band kr 347.20 – kr 853.29 · the kr 427.60 price screens below the kr 657.31 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 29, 2026.
Royal Unibrew A/S (RBREW) currently trades at kr 427.60, while our model-based Fair Value estimate is kr 657.31, implying the stock looks roughly 34.9% undervalued today. The Quality Score stands at 62/100 (solid quality), in the Consumer Defensive sector. Bull case: the Multiples group reads highest at a median of kr 555.35 per share, and 17 of the 26 models we run sit above the kr 427.60 price. Bear case: the Asset-Based group reads lowest at kr 94.19, and 9 of the 26 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Royal Unibrew A/S generated revenue of 15.8B DKK at a net margin of 10.1%. Revenue grew 3.3% year over year. It earns a return on equity of 23.8%. Net debt stands at 6.0B DKK. Fundamentals as of Aug 29, 2026
Scenario range: kr 347.20 (bear) to kr 853.29 (bull), the price of kr 427.60 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target. The share trades about 32% below its 52-week high and 13% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at −5% fair-value upside, at 54%, RBREW screens cheaper than that median.
Fair Value models
Based on fiscal year 2025 figures (about 8 months old). Earnings retained since then (kr 11.24 per share) are deliberately not added.
Each model values the company its own way; the fair value above is the evidence-weighted blend. Evidence (0 to 100) shows how complete a model's inputs are. How we calculate →
ModelBear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence
Highest evidence
FCF DCF best evidencekr 286.54kr 549.88kr 975.2777
Growth DCFkr 289.26kr 544.76kr 954.6475
EPVkr 246.13kr 305.83kr 358.0774
All 26 models by family
DCF Models
FCF DCF best evidencekr 286.54kr 549.88kr 975.2777
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Key figures & financial health
P/E ratio13.2
P/S ratio1.31P/E × margin
EPS (TTM)kr 32.28price ÷ EPS = P/E 13.2
Dividend yield3.7%payout 49.6%
Net margin9.9%FY2025
Return on equity23.8%TTM
More key figures
Profitability
Return on assets (EBIT)11.6%avg 5y
Operating margin8.3%TTM
Growth
Revenue (TTM)15.8B DKKTTM
Revenue growth (YoY)+3.3%3y avg +11.0%
EPS growth (YoY)+40.0%
Balance sheet & cash flow
Free cash flow1.6B DKKFY2025
Net debt6.0B DKKFY2025 · ≈ 3.8 yrs of FCF
Figures from reported company fundamentals · as of Aug 29, 2026. TTM = trailing twelve months.
Quality Score breakdown
Overall quality62/100
Of which business quality 60
· Market factors (momentum, volatility) 42
Profitability62
Margins and returns on capital today
Quality Growth45
Are margins and returns improving?
Cashflow57
Earnings quality: real cash, not paper profit
Fin. Strength50
Balance sheet, leverage, solvency risk
Investment66
Disciplined investing over empire-building
Low Volatility76
Calm price path (market factor)
Momentum32
Price trend over the last 3–12 months (market factor)
52W Momentum22
Distance to the 52-week high (market factor)
Net Issuance87
Buybacks instead of dilution
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Royal Unibrew A/S provides beverages in Denmark, Germany, Norway, Sweden, Italy, the Netherlands, France, Finland, Lithuania, Latvia, Estonia, Belgium, Luxembourg, and internationally.
Full company description
Royal Unibrew A/S provides beverages in Denmark, Germany, Norway, Sweden, Italy, the Netherlands, France, Finland, Lithuania, Latvia, Estonia, Belgium, Luxembourg, and internationally. It offers soft drinks under the Faxe Kondi, Jaffa, Lemon Soda, Lorina, Royal Club, Fonti di Crodo, Adelhardt, Frem, Rebæl, Crystal Clear, Sisi, Sourcy Vitamin Water, Borg, Hansa, CB, and Pommac brands, as well as other partner brands. The company also provides energy drinks under the Faxe Kondi Booster, CULT, Crazy Tiger, Lemon Soda Energy, Jaffa Booster, and ED energy brands; water under the Novelle, Egekilde, Sourcy, Vichy Original, Olden, Mangali, and other partner brands; and malt beverages under the Vitamalt, Supermalt, and Powermalt brands. In addition, it offers beers under the Ceres Italy, Faxe, Royal, Hansa, Anarkist, Lapin Kulta, Amsterdam, Bauskas, Albani, Too Old To Die Young, Slots, Fuglsang, Thor, Nørrebro Bryghus, Schiøtz, Ceres Denmark, Borg, Kalnapilis, Helsinki Bryggeri, Tanker, Vilkmergés, Aura, Nøgne Ø, CB, Madonas Alus, Lielvardes, Frederikstad, Karjala, Lahden Erikois, Maltti, Lacplesis and other partner brands. Further, the company provides ready-to-drink products, cocktails, and ciders under the Original Long Drink, Grevens, Shaker, Tempt Cider, GiG Drinks, Mokai, Nohrlund, Happy Joe, Hartwall Seltzer, Hartwall Cocktails, Hansa Hard Seltzer, Urban Cocktails, Royale Cocktail Co., Lielvardes Sidrs, Vilkmerges Sidras, Strongbow, and other partner brands. Additionally, it offers juice under the Cido, Adelhardt, Looza, Pagoi, and Ranja brands; enhanced beverages under the Faxe Kondi Pro, Hartwall Sport, Cido Hydrate+, Sourcy Vitamin water, and Gatorda; and tea and coffee under partner brands. The company was formerly known as Bryggerigruppen A/S and changed its name to Royal Unibrew A/S in 2005. Royal Unibrew A/S was founded in 1901 and is headquartered in Faxe, Denmark.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Royal Unibrew A/S reported revenue of 15.7B DKK in FY2025 versus 8.7B DKK in FY2021, a compound +15.8%/yr. Reported net income was 1.6B DKK in FY2025, compounding +4.7%/yr from FY2021.
Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
15.7B DKK
Latest YoY
+4.6%
Avg. revenue growth/yr (3Y) ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+11.0%
Avg. revenue growth/yr (5Y) ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+15.8%
Avg. revenue growth/yr (27Y) ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+7.9%
Value creation/yr (5Y) ⓘEarnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+9.2%
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+5.5%
Dividend yield3.7%
Trend ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.5Y 5.5% vs 10Y 9.3%, flattening
Operating margin (EBIT) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.20.4% (2020) → 14.0% (2025) · falling
Worst earnings drop330% (2008) (loss year, drop beyond 100%) · in DKK
Revenue+15.8%/yr
FY218.7B DKK
FY2211.5B DKK
FY2312.9B DKK
FY2415.0B DKK
FY2515.7B DKK
Net income+4.7%/yr
FY211.3B DKK
FY221.5B DKK
FY231.1B DKK
FY241.5B DKK
FY251.6B DKK
Character of growth · EPS growth decomposed (2014-2025)+8.8 % p.a.
Revenue per share+11.2 %
of which total revenue +10.1 % · buybacks/dilution +1.0 %
EBIT margin−1.7 %
Tax rate+0.0 %
Residual (interest, one-offs)−0.5 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation
Quality Score62 · Above median
Fair Value upside+57% · Top 25%
Profitability
Return on equity (TTM)24% · Top 25%
Return on assets8% · Top 25%
Net margin (TTM)10% · Above median
Operating margin (TTM)8% · Below median
Growth and dividend
Revenue growth3% · Above median
Dividend yield (TTM)3.7% · Above median
Balance sheet
Debt / equity0.81× · Highest 25%
Valuation Multiples vs Beverages - Brewers median · lower = cheaper
P/E (TTM)13.2× · Cheaper than median
P/B3.39× · Priciest 25%
P/S (TTM)1.44× · Cheaper than median
P/FCF2.2× · Cheaper than median
EV/EBITDA9.5× · Pricier than median
PEG7.79× · Priciest 25%
What the price implies (reverse DCF)
The inverse question: what free-cash-flow growth must Royal Unibrew A/S deliver for ten years so that today's price is fair in our DCF model? Same formula, same discount rate as the fair value.
Implied FCF growth, 10 years+2.7 % per year
Achieved revenue growth, 5 years+15.8 % p.a.
Sector median revenue growth+2.9 %
FCF yield on price7.48 %
Discount rate (WACC) in the models8.3 %
The price demands less growth than the company recently delivered: even a weaker business would justify the price. Ranking of the largest stocks →
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
This stockSector peers
VALUE100· sector 27
FUTURE17· sector 0
PAST95· sector 35
HEALTH60· sector 97
DIVIDEND75· sector 63
Insider activity: 48/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Alcohol
Similar stocks
10 more Beverages - Brewers stocks, each showing price versus our Fair Value estimate (as of Aug 29, 2026).
Is Royal Unibrew A/S (RBREW) overvalued or undervalued?
As of Aug 29, 2026, our model estimates a fair value of kr 657.31 versus a price of kr 427.60, about +54% upside (undervalued).
What is the fair value of RBREW?
Our model-based fair value for Royal Unibrew A/S is kr 657.31 (as of Aug 29, 2026), built from audited fundamentals. The current price: kr 427.60.
What is the quality score of RBREW?
Royal Unibrew A/S has a Quality Score of 62/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Royal Unibrew A/S (RBREW)?
Our model-based price target is the fair value of kr 657.31 (as of Aug 29, 2026) from 26 valuation models. Cautious scenario kr 347.20, optimistic scenario kr 853.29. It is a calculation from audited fundamentals, not an analyst target.
What is the Royal Unibrew A/S stock forecast for 2026?
Our models put fair value at kr 657.31, about +54% upside versus a price of kr 427.60 (undervalued). Cautious scenario kr 347.20, optimistic scenario kr 853.29. The calculation is refreshed regularly with new filings.
What is the revenue of Royal Unibrew A/S (RBREW)?
Royal Unibrew A/S reported trailing-twelve-month revenue of about 15.8B DKK (latest available figure, as of Aug 29, 2026).
What is the net profit margin of RBREW?
The net profit margin of Royal Unibrew A/S is about 10.1%, meaning it keeps roughly 10.1% of revenue as net income. Based on the latest reported figures.
Does Royal Unibrew A/S pay a dividend?
Royal Unibrew A/S currently shows a dividend yield of about 3.74% relative to its recent price (as of Aug 29, 2026).
What growth is priced into Royal Unibrew A/S (RBREW)?
For today's price to be fair in a discounted-cash-flow model, Royal Unibrew A/S would have to grow free cash flow by +2.7 % per year for ten years (discount rate 8.3 %, then 2 % perpetual growth). Over the last 5 years revenue grew +15.8 % per year. As of Aug 29, 2026.
What discount rate (WACC) does the fair value of RBREW use?
Our models discount Royal Unibrew A/S at 8.3 %: a base by market capitalisation (mid), damped by beta 0.37, country premium for Denmark. The same rate applies in all 26 models.
What is the intrinsic value of Royal Unibrew A/S (RBREW)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Royal Unibrew A/S it is kr 657.31 per share (as of Aug 29, 2026), against a price of kr 427.60. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Royal Unibrew A/S stock overvalued or undervalued in 2026?
As of Aug 29, 2026, RBREW trades below its calculated fair value: price kr 427.60, fair value kr 657.31, a gap of about +54% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of RBREW?
No. The price is what the market pays today (kr 427.60); the fair value is what the company's own numbers justify (kr 657.31). For Royal Unibrew A/S the two are kr 229.71 per share apart. That gap is exactly why we show both numbers side by side.
How much is Royal Unibrew A/S worth?
The market values Royal Unibrew A/S at about 22.8B DKK (market capitalisation, as of Aug 29, 2026). Per share that is kr 427.60; our models calculate a fair value of kr 657.31 per share.
What do the bullish and bearish scenarios say about RBREW?
Our models span a range for Royal Unibrew A/S: cautious scenario kr 347.20, base kr 657.31, optimistic kr 853.29 per share (as of Aug 29, 2026, price kr 427.60). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of RBREW?
Royal Unibrew A/S trades at a price-to-earnings ratio of 13.2 (as of Aug 29, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 657.31 is built from several models across several years. Other multiples: PEG 7.8, P/B 3.4, P/S 1.4, EV/EBITDA 9.5.
What is the PEG ratio of RBREW?
The PEG ratio of Royal Unibrew A/S is 7.79 (P/E divided by earnings growth, as of Aug 29, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Royal Unibrew A/S (RBREW)?
Balance-sheet figures for Royal Unibrew A/S (as of Aug 29, 2026): return on equity 23.8%, debt of 0.81 per unit of equity. They feed the Quality Score of 62/100, which measures business quality independently of the share price.
How far is RBREW from its 52-week high?
Royal Unibrew A/S trades at kr 427.60, about 32% below its 52-week high of kr 628.63 and 13% above the low of kr 379.58 (as of Aug 29, 2026). Distance from the high says nothing about value: that is what the fair value of kr 657.31 is for.
Which stocks are comparable to Royal Unibrew A/S?
From the same area (Consumer Defensive) we also value Anheuser-Busch InBev SA, Heineken N.V, Ambev S.A, Fomento Económico Mexicano, S.A., among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Royal Unibrew A/S stock attractive at the current price?
The data as of Aug 29, 2026: price kr 427.60, calculated fair value kr 657.31 (+54%), Quality Score 62/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of RBREW calculated?
We run Royal Unibrew A/S through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of kr 657.31, with the spread shown as a cautious and an optimistic scenario.
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