kr784.00
0.13% today
Copenhagen, Nov 07, 04:59 pm CET
ISIN
DK0010181759
Symbol
CARL B

Carlsberg Target price 2025 - Analyst rating & recommendation

Carlsberg Classifications & Recommendation:

Buy
66%
Hold
31%
Sell
3%

Carlsberg Price Target

Target Price kr1,020.00
Price kr785.00
Potential
Number of Estimates 25
25 Analysts have issued a price target Carlsberg 2026 . The average Carlsberg target price is kr1,020.00. This is higher than the current stock price. The highest price target is
kr1,417.50 80.57%
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, the lowest is .
A rating was issued by 29 analysts: 19 Analysts recommend Carlsberg to buy, 9 to hold and 1 to sell.
Analysts don't have a crystal ball either, but they do represent the opinion of the market quite well. You should not take the price potential and the ratings as a recommendation to act. Rather, they serve as an additional building block for your own opinion or stock analysis.
Analyst Estimates: Analysts believe that the Carlsberg stock has an average upside potential 2026 of . Most analysts recommend the Carlsberg stock at Purchase.

Sales and Margin forecast 2025, 2026 to 2030

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Dec '24 2025
Estimates
Revenue Billion kr 75.01 90.11
1.94% 20.13%
EBITDA Margin 16.73% 21.04%
1.40% 25.76%
Net Margin 12.15% 8.56%
121.92% 29.56%

24 Analysts have issued a sales forecast Carlsberg 2025 . The average Carlsberg sales estimate is

kr90.1b
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. This is
9.76% higher
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than the revenue of the last 12 months(TTM). The highest sales forecast is
kr98.5b 19.94%
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, the lowest is
kr73.5b 10.46%
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.

This results in the following potential growth metrics:

Revenue Estimates

2024 kr75.0b 1.94%
2025
kr90.1b 20.13%
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2026
kr94.0b 4.33%
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2027
kr97.4b 3.58%
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2028
kr104b 6.94%
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2029
kr108b 3.85%
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2030
kr98.5b 8.93%
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20 Analysts have issued an Carlsberg EBITDA forecast 2025. The average Carlsberg EBITDA estimate is

kr19.0b
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. This is
15.51% higher
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than the EBITDA of the last 12 months(TTM). The highest EBITDA forecast is
kr21.4b 30.54%
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, the lowest is
kr16.8b 2.39%
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.

This results in the following potential growth metrics and future EBITDA Margins:

EBITDA Estimates

2024 kr12.6b 3.36%
2025
kr19.0b 51.07%
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2026
kr20.2b 6.43%
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2027
kr21.4b 6.16%
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2028
kr23.2b 8.47%
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2029
kr25.1b 8.21%
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2030
kr24.1b 4.03%
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EBITDA Margin

2024 16.73% 1.40%
2025
21.04% 25.76%
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2026
21.46% 2.00%
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2027
22.00% 2.52%
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2028
22.31% 1.41%
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2029
23.25% 4.21%
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2030
24.50% 5.38%
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24 Carlsberg Analysts have issued a net profit forecast 2025. The average Carlsberg net profit estimate is

kr7.7b
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. This is
13.71% lower
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than the net profit for the last 12 months(TTM). The highest net profit forecast is
kr9.4b 5.69%
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, the lowest is
kr7.1b 21.04%
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.

This results in the following potential growth metrics and future Net Margins:

Net Profit Estimates

2024 kr9.1b 122.35%
2025
kr7.7b 15.36%
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2026
kr8.3b 7.51%
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2027
kr9.1b 10.13%
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2028
kr10.8b 18.61%
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2029
kr12.3b 13.72%
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Net Margin

2024 12.15% 121.92%
2025
8.56% 29.56%
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2026
8.82% 3.04%
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2027
9.38% 6.35%
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2028
10.41% 10.98%
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2029
11.39% 9.41%
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Earnings per share, P/E ratio and EV/sales Estimates 2025, 2026 to 2030

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Dec '24 2025
Estimates
Earnings Per Share kr 68.58 58.90
122.88% 14.11%
P/E 13.33
EV/Sales 1.90

24 Analysts have issued a Carlsberg forecast for earnings per share. The average Carlsberg EPS is

kr58.90
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. This is
12.93% lower
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than earnings per share in the financial year 2024. The highest EPS forecast is
kr72.14 6.64%
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, the lowest is
kr53.89 20.34%
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.

This results in the following potential growth metrics and future valuations:

Earnings Per Share

2024 kr68.58 122.88%
2025
kr58.90 14.11%
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2026
kr63.32 7.50%
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2027
kr69.73 10.12%
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2028
kr82.71 18.61%
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2029
kr94.06 13.72%
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P/E ratio

Current 11.60 556.72%
2025
13.33 14.88%
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2026
12.40 6.98%
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2027
11.26 9.19%
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2028
9.49 15.72%
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2029
8.35 12.01%
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Based on analysts' sales estimates for 2025, the Carlsberg stock is valued at an EV/Sales of

and an P/S ratio of .

This results in the following potential growth metrics and future valuations:

EV/Sales

Current 2.09 15.47%
2025
1.90 8.93%
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2026
1.82 4.15%
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2027
1.76 3.45%
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2028
1.65 6.49%
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2029
1.59 3.71%
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2030
1.74 9.80%
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P/S ratio

Current 1.31 10.26%
2025
1.19 8.89%
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2026
1.14 4.15%
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2027
1.10 3.45%
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2028
1.03 6.48%
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2029
0.99 3.71%
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2030
1.09 9.80%
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Current Carlsberg Upgrades & Downgrades

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Analyst Rating Action Date
BERENBERG
Locked
Locked
Locked Sep 15 2025
JEFFERIES
Locked
Locked
Locked Sep 15 2025
HSBC GLOBAL INVESTMENT RESEARCH
Locked
Locked
Locked Aug 25 2025
ROTHSCHILD & CO REDBURN
Locked
Locked
Locked Aug 18 2025
BERENBERG
Locked
Locked
Locked Jul 01 2025
BERENBERG
Locked
Locked
Locked Jun 30 2025
ESN/CIC MARKET SOLUTIONS
Locked
Locked
Locked Jun 27 2025
Analyst Rating Date
Locked
BERENBERG:
Locked
Locked
Sep 15 2025
Locked
JEFFERIES:
Locked
Locked
Sep 15 2025
Locked
HSBC GLOBAL INVESTMENT RESEARCH:
Locked
Locked
Aug 25 2025
Locked
ROTHSCHILD & CO REDBURN:
Locked
Locked
Aug 18 2025
Locked
BERENBERG:
Locked
Locked
Jul 01 2025
Locked
BERENBERG:
Locked
Locked
Jun 30 2025
Locked
ESN/CIC MARKET SOLUTIONS:
Locked
Locked
Jun 27 2025

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