kr859.40
1.35%
Copenhagen, Sep 25, 04:59 pm CEST. Closed.
ISIN
DK0010181759
Symbol
CARL B

Carlsberg Target price 2026 - Analyst rating & recommendation

Carlsberg Classifications & Recommendation

Buy
80%
Hold
17%
Sell
3%

Carlsberg Price Target

Target Price kr1,081.20
Price kr859.40
Potential
Number of Estimates 26
26 Analysts have issued a price target Carlsberg 2027 . The average Carlsberg target price is kr1,081.20. This is higher than the current stock price. The highest price target is
kr1,596.00 85.71%
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, the lowest is .
A rating was issued by 30 analysts: 24 Analysts recommend Carlsberg to buy, 5 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 2027 of . Most analysts recommend the Carlsberg stock at Purchase.

Sales and Margin forecast 2026, 2027 to 2030

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Select at least one metric to display the chart.


Dec '25 2026
Estimates
Revenue Billion kr 89.10 93.40
18.78% 4.83%
EBITDA Margin 16.99% 21.26%
1.55% 25.13%
Net Margin 6.68% 9.27%
45.00% 38.69%

26 Analysts have issued a sales forecast Carlsberg 2026 . The average Carlsberg sales estimate is

kr93.4b
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. This is
3.44% higher
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than the revenue of the last 12 months(TTM). The highest sales forecast is
kr98.4b 8.97%
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, the lowest is
kr89.7b 0.67%
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.

This results in the following potential growth metrics:

Revenue Estimates

2025 kr89.1b 18.78%
2026
kr93.4b 4.83%
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2027
kr96.9b 3.71%
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2028
kr100b 3.61%
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2029
kr105b 4.81%
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2030
kr113b 7.01%
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23 Analysts have issued an Carlsberg EBITDA forecast 2026. The average Carlsberg EBITDA estimate is

kr19.9b
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. This is
52.99% higher
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than the EBITDA of the last 12 months(TTM). The highest EBITDA forecast is
kr22.8b 75.89%
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, the lowest is
kr16.7b 28.55%
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.

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

EBITDA Estimates

2025 kr15.1b 20.62%
2026
kr19.9b 31.17%
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2027
kr20.9b 5.34%
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2028
kr22.0b 5.13%
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2029
kr24.2b 9.93%
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2030
kr27.0b 11.86%
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EBITDA Margin

2025 16.99% 1.55%
2026
21.26% 25.13%
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2027
21.59% 1.55%
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2028
21.91% 1.48%
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2029
22.98% 4.88%
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2030
24.02% 4.53%
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26 Carlsberg Analysts have issued a net profit forecast 2026. The average Carlsberg net profit estimate is

kr8.7b
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. This is
39.83% higher
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than the net profit for the last 12 months(TTM). The highest net profit forecast is
kr9.5b 53.03%
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, the lowest is
kr8.0b 28.82%
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.

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

Net Profit Estimates

2025 kr6.0b 34.68%
2026
kr8.7b 45.44%
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2027
kr9.3b 7.21%
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2028
kr10.1b 8.67%
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2029
kr11.9b 17.61%
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2030
kr13.9b 17.52%
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Net Margin

2025 6.68% 45.00%
2026
9.27% 38.69%
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2027
9.59% 3.45%
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2028
10.05% 4.80%
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2029
11.28% 12.24%
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2030
12.39% 9.84%
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Earnings per share, P/E ratio and EV/sales Estimates 2026, 2027 to 2030

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Select at least one metric to display the chart.


Dec '25 2026
Estimates
Earnings Per Share kr 44.93 65.53
34.49% 45.85%
P/E 13.12
EV/Sales 1.84

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

kr65.53
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. This is
39.93% higher
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than earnings per share in the financial year 2025. The highest EPS forecast is
kr71.72 53.15%
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, the lowest is
kr60.37 28.91%
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.

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

Earnings Per Share

2025 kr44.93 34.49%
2026
kr65.53 45.85%
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2027
kr70.25 7.20%
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2028
kr76.34 8.67%
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2029
kr89.78 17.61%
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2030
kr105.51 17.52%
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P/E ratio

Current 18.35 64.43%
2026
13.12 28.51%
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2027
12.23 6.78%
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2028
11.26 7.93%
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2029
9.57 15.01%
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2030
8.15 14.84%
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Based on analysts' sales estimates for 2026, 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 1.90 7.32%
2026
1.84 3.19%
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2027
1.77 3.57%
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2028
1.71 3.49%
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2029
1.63 4.59%
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2030
1.53 6.55%
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P/S ratio

Current 1.34 6.13%
2026
1.30 3.33%
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2027
1.25 3.58%
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2028
1.21 3.48%
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2029
1.15 4.59%
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2030
1.08 6.54%
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Current Carlsberg Upgrades & Downgrades

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Analyst Rating Action Date
JYSKE BANK
Locked
➜
Locked
Locked Sep 23 2026
ROTHSCHILD & CO REDBURN
Locked
➜
Locked
Locked Sep 23 2026
BNP PARIBAS
Locked
➜
Locked
Locked Aug 31 2026
BAADER EUROPE / ALPHAVALUE
Locked
➜
Locked
Locked Aug 27 2026
BERENBERG
Locked
➜
Locked
Locked Aug 26 2026
HSBC GLOBAL INVESTMENT RESEARCH
Locked
➜
Locked
Locked Aug 24 2026
ODDO BHF
Locked
➜
Locked
Locked Aug 20 2026
Analyst Rating Date
Locked
JYSKE BANK:
Locked
➜
Locked
Sep 23 2026
Locked
ROTHSCHILD & CO REDBURN:
Locked
➜
Locked
Sep 23 2026
Locked
BNP PARIBAS:
Locked
➜
Locked
Aug 31 2026
Locked
BAADER EUROPE / ALPHAVALUE:
Locked
➜
Locked
Aug 27 2026
Locked
BERENBERG:
Locked
➜
Locked
Aug 26 2026
Locked
HSBC GLOBAL INVESTMENT RESEARCH:
Locked
➜
Locked
Aug 24 2026
Locked
ODDO BHF:
Locked
➜
Locked
Aug 20 2026

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