Carlsberg AS (0AI4) Ratios
Carlsberg AS Ratios
GB:0AI4's free cash flow for Q2 2026 was $4.00B. For the 2026 fiscal year, GB:0AI4's free cash flow was decreased by $-3.56B and operating cash flow was $7.56B. See a summary of the company’s cash flow.
| Ratios | Dec 25 | Dec 24 | Dec 23 | Dec 22 | Dec 21 |
|---|---|---|---|---|---|
| Liquidity Ratios | |||||
| Current Ratio | 0.60 | 0.57 | 0.64 | 0.70 | 0.53 |
| Quick Ratio | 0.46 | 0.44 | 0.52 | 0.59 | 0.41 |
| Cash Ratio | 0.20 | 0.25 | 0.28 | 0.17 | 0.19 |
| Solvency Ratio | 0.09 | 0.16 | -0.43 | 0.16 | 0.14 |
| Operating Cash Flow Ratio | 0.27 | 0.25 | 0.25 | 0.27 | 0.31 |
| Short-Term Operating Cash Flow Coverage | 1.52 | 1.10 | 1.47 | 2.40 | 2.29 |
| Net Current Asset Value | $ -94.03B | $ -56.37B | $ -55.88B | $ -46.37B | $ -54.54B |
| Leverage Ratios | |||||
| Debt-to-Assets Ratio | 0.46 | 0.34 | 0.35 | 0.25 | 0.23 |
| Debt-to-Equity Ratio | 2.54 | 1.37 | 1.68 | 0.90 | 0.66 |
| Debt-to-Capital Ratio | 0.72 | 0.58 | 0.63 | 0.47 | 0.40 |
| Long-Term Debt-to-Capital Ratio | 0.68 | 0.48 | 0.56 | 0.40 | 0.33 |
| Financial Leverage Ratio | 5.54 | 4.08 | 4.81 | 3.62 | 2.88 |
| Debt Service Coverage Ratio | 1.28 | 1.18 | 1.48 | 2.13 | 1.96 |
| Interest Coverage Ratio | 4.52 | 7.88 | 10.59 | 16.22 | 14.18 |
| Debt to Market Cap | 0.61 | 0.39 | 0.32 | 0.21 | 0.17 |
| Interest Debt Per Share | 554.34 | 298.50 | 295.03 | 209.83 | 206.38 |
| Net Debt to EBITDA | 3.71 | 1.68 | 1.71 | 1.39 | 1.37 |
| Profitability Margins | |||||
| Gross Profit Margin | 42.33% | 45.83% | 44.62% | 45.64% | 47.01% |
| EBIT Margin | 12.38% | 15.23% | 14.87% | 13.88% | 16.32% |
| EBITDA Margin | 18.47% | 21.06% | 20.41% | 20.97% | 22.58% |
| Operating Profit Margin | 13.39% | 15.21% | 15.09% | 16.04% | 16.30% |
| Pretax Profit Margin | 10.16% | 13.31% | 13.36% | 14.18% | 15.35% |
| Net Profit Margin | 6.68% | 12.15% | -55.43% | 11.65% | 10.27% |
| Continuous Operations Profit Margin | 7.83% | 10.67% | 10.83% | 11.65% | 12.45% |
| Net Income Per EBT | 65.80% | 91.28% | -414.93% | 82.15% | 66.93% |
| EBT Per EBIT | 75.88% | 87.52% | 88.52% | 88.39% | 94.16% |
| Return on Assets (ROA) | 3.87% | 8.04% | -36.47% | 7.09% | 5.42% |
| Return on Equity (ROE) | 21.42% | 32.83% | -175.55% | 25.65% | 15.58% |
| Return on Capital Employed (ROCE) | 11.31% | 16.96% | 17.19% | 16.92% | 13.07% |
| Return on Invested Capital (ROIC) | 8.03% | 11.72% | 12.35% | 12.79% | 9.53% |
| Return on Tangible Assets | 8.42% | 14.96% | -65.02% | 12.38% | 11.82% |
| Earnings Yield | 5.39% | 9.96% | -35.39% | 6.34% | 4.21% |
| Efficiency Ratios | |||||
| Receivables Turnover | 8.33 | 10.42 | 14.42 | 9.02 | 8.09 |
| Payables Turnover | 1.91 | 1.74 | 1.84 | 1.74 | 1.71 |
| Inventory Turnover | 7.23 | 6.83 | 7.01 | 6.68 | 6.55 |
| Fixed Asset Turnover | 2.72 | 2.77 | 3.02 | 2.97 | 2.50 |
| Asset Turnover | 0.58 | 0.66 | 0.66 | 0.61 | 0.53 |
| Working Capital Turnover Ratio | -4.57 | -4.08 | -4.67 | -4.05 | -4.50 |
| Cash Conversion Cycle | -96.58 | -120.96 | -121.11 | -114.34 | -112.55 |
| Days of Sales Outstanding | 43.83 | 35.03 | 25.31 | 40.45 | 45.11 |
| Days of Inventory Outstanding | 50.50 | 53.48 | 52.05 | 54.64 | 55.73 |
| Days of Payables Outstanding | 190.91 | 209.46 | 198.46 | 209.43 | 213.39 |
| Operating Cycle | 94.34 | 88.50 | 77.35 | 95.08 | 100.85 |
| Cash Flow Ratios | |||||
| Operating Cash Flow Per Share | 98.69 | 85.29 | 85.29 | 92.60 | 92.17 |
| Free Cash Flow Per Share | 56.38 | 47.37 | 54.11 | 63.87 | 62.83 |
| Dividend Paid and CapEx Coverage Ratio | 1.42 | 1.31 | 1.46 | 1.75 | 1.79 |
| Capital Expenditure Coverage Ratio | 2.33 | 2.25 | 2.74 | 3.22 | 3.14 |
| Operating Cash Flow Coverage Ratio | 0.18 | 0.30 | 0.30 | 0.45 | 0.46 |
| Operating Cash Flow to Sales Ratio | 0.15 | 0.15 | 0.16 | 0.18 | 0.20 |
| Free Cash Flow Yield | 6.75% | 6.86% | 6.39% | 6.92% | 5.56% |
| Valuation Ratios | |||||
| Price-to-Earnings (P/E) Ratio | 18.54 | 10.04 | -2.83 | 15.78 | 23.73 |
| Price-to-Sales (P/S) Ratio | 1.24 | 1.22 | 1.57 | 1.84 | 2.44 |
| Price-to-Book (P/B) Ratio | 3.97 | 3.30 | 4.96 | 4.05 | 3.70 |
| Price-to-Free Cash Flow (P/FCF) Ratio | 14.81 | 14.57 | 15.65 | 14.45 | 17.98 |
| Price-to-Operating Cash Flow Ratio | 8.46 | 8.09 | 9.93 | 9.97 | 12.25 |
| Price-to-Earnings Growth (PEG) Ratio | -1.44 | -0.09 | 0.00 | 0.69 | 1.55 |
| Enterprise Value Multiple | 10.42 | 7.48 | 9.39 | 10.15 | 12.17 |
| Enterprise Value | 171.42B | 118.11B | 140.96B | 149.58B | 183.05B |
| EV to EBITDA | 10.42 | 7.48 | 9.39 | 10.15 | 12.17 |
| EV to Sales | 1.92 | 1.57 | 1.92 | 2.13 | 2.75 |
| EV to Free Cash Flow | 23.01 | 18.80 | 19.14 | 16.75 | 20.25 |
| EV to Operating Cash Flow | 13.14 | 10.44 | 12.14 | 11.55 | 13.81 |
| Tangible Book Value Per Share | -397.65 | -164.18 | -171.59 | -103.70 | -137.08 |
| Shareholders’ Equity Per Share | 210.37 | 209.39 | 170.73 | 228.14 | 305.47 |
| Tax and Other Ratios | |||||
| Effective Tax Rate | 0.23 | 0.20 | 0.19 | 0.18 | 0.22 |
| Revenue Per Share | 674.12 | 565.58 | 540.71 | 502.49 | 463.23 |
| Net Income Per Share | 45.06 | 68.73 | -299.72 | 58.52 | 47.59 |
| Tax Burden | 0.66 | 0.91 | -4.15 | 0.82 | 0.67 |
| Interest Burden | 0.82 | 0.87 | 0.90 | 1.02 | 0.94 |
| Research & Development to Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| SG&A to Revenue | 0.32 | 0.31 | 0.06 | 0.06 | 0.06 |
| Stock-Based Compensation to Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Income Quality | 2.19 | 0.99 | 1.05 | 1.13 | 1.22 |
Currency in DKK