Carlsberg (CABGY) AI Stock Analysis

• Market Cap: $16.56B
• Dividend Yield: 3.23%
• Average Volume (3M): 1.12K
• Price to Earnings (P/E): 16.2
• Beta (1Y): 0.24
• Revenue Growth: 10.69%
• EPS Growth: N/A
• Country: US
• Employees: 32,098
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Beverages - Alcoholic
• EPS (TTM): 0.65
• Shares Outstanding: 494,787,780
• 10 Day Avg. Volume: 0
• 30 Day Avg. Volume: 1,119
• PEG Ratio: -0.09
• Price to Book (P/B): 3.28
• Price to Sales (P/S): 1.21
• P/FCF Ratio: 88.79
• Enterprise Value/Market Cap: 1.73
• Enterprise Value/Revenue: 0.35
• Enterprise Value/Gross Profit: 0.76
• Enterprise Value/Ebitda: 1.68
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 75 Outperform
• Price Target: $27.00 ▲(9.09% Upside)

Carlsberg's overall stock score is driven by its strong financial performance and positive earnings call insights, despite technical indicators showing a bearish trend. The company's valuation remains reasonable, supporting a stable investment outlook.

Carlsberg Business Overview & Revenue Model

Company Description

Carlsberg A/S produces and sells beer and other beverage products in Denmark. It offers core, and craft and specialty beers; and alcohol-free brews. The company provides its products primarily under the Carlsberg, Tuborg, Feldschlösschen, Baltika, Chongqing, 1664 Blanc, Grimbergen, Ringnes, and Somersby brand names. Carlsberg A/S also exports its products to approximately 100 countries worldwide. The company was founded in 1847 and is headquartered in Copenhagen, Denmark.

How the Company Makes Money

Carlsberg generates revenue primarily through the sale of its alcoholic beverages, particularly beer. The company operates on a revenue model that includes direct sales to retailers, wholesalers, and distributors, as well as selling products through its own branded outlets. Key revenue streams include international sales of its flagship brands and local products tailored to specific markets. Carlsberg also benefits from strategic partnerships and collaborations with various distributors and retailers, enhancing its market reach. Additionally, the company capitalizes on seasonal demand patterns, promotional campaigns, and sponsorships of major events to boost sales. Factors contributing to its earnings include brand loyalty, product innovation, and expansion into emerging markets, where beer consumption is on the rise.

Carlsberg Financial Statement Overview

Summary

Carlsberg has shown robust financial health with consistent revenue growth, strong operational margins, and an improved balance sheet. Despite a temporary setback in 2023, the company has demonstrated resilience with a recovery in profitability and sound cash flow management.

Income Statement

Carlsberg has demonstrated solid revenue growth, increasing from 70.27 billion in 2022 to 75.01 billion in 2024, reflecting consistent demand. The gross profit margin remained stable around 45-46%, indicating effective cost management. The net profit margin turned positive in 2024 after a negative spike in 2023 due to exceptional items affecting net income that year. EBIT and EBITDA margins have stayed strong, indicating robust operational performance.

Balance Sheet

The balance sheet reflects a moderate debt-to-equity ratio, improving from 1.26 in 2023 to 1.37 in 2024, suggesting managed leverage. Stockholders' equity has grown, enhancing the equity ratio. The return on equity is healthy, although it was negatively impacted in 2023 by the significant net income loss but recovered in 2024, showcasing resilience. Overall, the company maintains a stable asset base.

Cash Flow

Carlsberg's operating cash flow remains strong, with a slight decline from 2022 to 2024. Free cash flow, although decreasing from 2022 to 2024, remains positive, providing ample liquidity for strategic investments. The operating cash flow to net income ratio improved significantly in 2024, demonstrating efficient cash conversion despite past challenges.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	82.10B	75.01B	73.58B	70.27B	60.10B	58.54B
Gross Profit	37.55B	34.38B	32.83B	32.07B	28.57B	28.36B
EBITDA	17.08B	15.80B	15.02B	13.96B	13.80B	14.29B
Net Income	8.94B	9.12B	-40.79B	-1.06B	6.85B	6.03B
Balance Sheet
Total Assets	154.62B	113.33B	111.83B	115.34B	126.38B	118.82B
Cash, Cash Equivalents and Short-Term Investments	10.10B	11.60B	15.62B	8.16B	8.34B	8.09B
Total Debt	74.08B	38.14B	39.10B	28.65B	28.92B	30.25B
Total Liabilities	126.85B	82.72B	86.08B	80.62B	77.63B	75.45B
Stockholders Equity	25.02B	27.77B	23.23B	31.90B	45.50B	39.31B
Cash Flow
Free Cash Flow	1.86B	1.03B	7.36B	8.93B	9.04B	6.53B
Operating Cash Flow	3.52B	1.76B	11.61B	12.95B	13.26B	10.93B
Investing Cash Flow	-16.79B	-944.82M	-6.73B	-3.06B	-4.38B	-5.87B
Financing Cash Flow	12.35B	-1.08B	1.37B	-9.76B	-8.95B	-1.81B

Carlsberg Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 24.75
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CABGY, the sentiment is Positive. The current price of 24.75 is above the 20-day moving average (MA) of 24.10, above the 50-day MA of 23.95, and below the 200-day MA of 25.71, indicating a neutral trend. The MACD of -0.04 indicates Positive momentum. The RSI at 52.10 is Neutral, neither overbought nor oversold. The STOCH value of 25.47 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CABGY.

Carlsberg Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ABEV	80 Outperform	$39.72B	13.78	15.97%	6.92%	-0.68%	4.29%
CABGY	75 Outperform	$16.56B	16.17	27.63%	3.23%	10.69%	―
BUD	75 Outperform	$124.27B	17.35	8.97%	1.87%	-2.06%	21.03%
CCU	70 Neutral	$2.38B	16.56	9.07%	2.49%	16.59%	1.72%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
STZ	57 Neutral	$23.27B	19.51	15.91%	3.05%	-5.57%	119.49%
TAP	56 Neutral	$9.13B	―	-17.66%	4.01%	-4.01%	-339.22%

Carlsberg Corporate Events

Carlsberg’s Earnings Call: Growth Amidst Challenges

Carlsberg’s recent earnings call highlighted a strong growth trajectory, bolstered by the successful integration of Britvic. The company reported significant increases in revenue and profit, though some challenges persist, particularly in the Asian markets and due to the loss of San Miguel in the UK, which affected organic growth figures.

Carlsberg Reports Strong Growth Amidst Challenging Market

Carlsberg, a leading global brewer known for its diverse portfolio of beer and beverage brands, operates in the consumer goods sector with a strong presence in Europe and Asia. In its latest earnings report, Carlsberg showcased robust financial performance amidst a challenging market environment, with significant contributions from its recent Britvic acquisition. The company reported an 18.2% increase in revenue, driven by the Britvic acquisition, despite a slight organic revenue decline of 0.3%. Operating profit grew by 15.1%, with organic growth at 2.3%, reflecting strong performance in Western Europe and strategic investments in premium and alcohol-free categories. The integration of Britvic is on track, contributing positively to volumes and revenue, particularly in the UK and Ireland. Looking ahead, Carlsberg remains focused on commercial execution and cost discipline, with an optimistic outlook for continued growth and value creation from its strategic initiatives.