Carlsberg AS (LTS:0AI4) EBIT: kr12,236 Mil (TTM As of Dec. 2025)


LTS:0AI4 Carlsberg AS LTS:0AI4
81 GF Score
Price kr877.30
GF Value kr1,097.38
Valuation Modestly Undervalued
! 4 Warning Signs
View Full Analysis

What is Carlsberg AS EBIT?

Carlsberg AS LTS:0AI4 +1.16% 81 EBIT is kr12,236 Mil as of Dec. 2025. GuruFocus rates LTS:0AI4 with a GF Score™ of 81/100 and a GF Value™ of kr1,097.38 (Modestly Undervalued). The stock has 4 warning signs investors should review.

Carlsberg AS's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2025 was kr5,460 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2025 was kr12,236 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Carlsberg AS's annualized ROC % for the quarter that ended in Dec. 2025 was 6.58%. Carlsberg AS's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 34.26%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Carlsberg AS's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 6.53%.


Carlsberg AS  (LTS:0AI4) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Carlsberg AS's annualized ROC % for the quarter that ended in Dec. 2025 is calculated as:

ROC % (Q: Dec. 2025 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Jun. 2025 ) + Invested Capital (Q: Dec. 2025 ))/ count )
=12188 * ( 1 - 22.88% )/( (140867 + 144983)/ 2 )
=9399.3856/142925
=6.58 %

where

Note: The Operating Income data used here is two times the semi-annual (Dec. 2025) data.

2. Joel Greenblatt's definition of Return on Capital:

Carlsberg AS's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 is calculated as:

ROC (Joel Greenblatt) %(Q: Dec. 2025 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Jun. 2025  Q: Dec. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=10920/( ( (30960 + max(-22577, 0)) + (32780 + max(-22967, 0)) )/ 2 )
=10920/( ( 30960 + 32780 )/ 2 )
=10920/31870
=34.26 %

where Working Capital is:

Working Capital(Q: Jun. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(11807 + 8019 + 0) - (28786 + 0 + 13617)
=-22577

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(7443 + 7110 + 1855) - (28269 + 0 + 11106)
=-22967

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Dec. 2025) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Carlsberg AS's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Dec. 2025 )
=12236/187300.453
=6.53 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Carlsberg AS EBIT Related Terms


Carlsberg AS EBIT Historical Data

* Premium members only.

The historical data trend for Carlsberg AS's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Carlsberg AS EBIT Chart

Carlsberg AS Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 11,093.00 10,659.00 10,945.00 11,427.00 11,967.00

Carlsberg AS Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 4,824.00 6,199.00 5,228.00 6,776.00 5,460.00

LTS:0AI4 vs STZ, TAP: EBIT Comparison

For the Beverages - Brewers subindustry, Carlsberg AS's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Carlsberg AS EV-to-EBIT vs Beverages - Alcoholic Industry

For the Beverages - Alcoholic industry and Consumer Defensive sector, Carlsberg AS's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Carlsberg AS's EV-to-EBIT falls into.


LTS:0AI4
81GF Score
Carlsberg AS LTS:0AI4
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Carlsberg AS EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Dec. 2025 adds up the semi-annually data reported by the company within the most recent 12 months, which was kr12,236 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of kr12,236 Mil mean?
Carlsberg AS (LTS:0AI4) has a EBIT of kr12,236 Mil as of Dec. 2025. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Carlsberg AS.
Is Carlsberg AS's EBIT too high?
Carlsberg AS's current EBIT is kr12,236 Mil. Overall, Carlsberg AS has a GF Score™ of 81/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Carlsberg AS's EBIT compare to STZ and TAP?
Carlsberg AS's EBIT of kr12,236 Mil can be compared against companies in the Beverages - Alcoholic industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EBIT for a Beverages - Alcoholic company?
A good EBIT depends on the Beverages - Alcoholic industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Carlsberg AS. Carlsberg AS's current EBIT is kr12,236 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Carlsberg AS stock overvalued right now?
Based on GuruFocus' analysis, Carlsberg AS (LTS:0AI4) is currently considered Modestly Undervalued. The stock's GF Value™ is kr1,097.38, compared to a current price of kr877.30 — trading 20.1% below its estimated fair value. The current EBIT is kr12,236 Mil. Carlsberg AS's overall GF Score™ is 81/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBIT calculated?
EBIT is calculated from a company's financial statements. For Carlsberg AS (LTS:0AI4), the current EBIT is kr12,236 Mil as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Carlsberg AS (LTS:0AI4) Overvalued in 2026?

Based on GuruFocus' analysis, Carlsberg AS stock appears to be undervalued. The current stock price of kr877.30 is trading 20.1% below its estimated GF Value™ of kr1,097.38. GuruFocus considers Carlsberg AS to be Modestly Undervalued.

Key valuation signals for LTS:0AI4:

  • EBIT: kr12,236 Mil
  • GF Value™: kr1,097.38 vs. price of kr877.30 (20.1% below fair value)
  • GF Score™: 81/100 with 4 warning signs

No single metric tells the full story. See the LTS:0AI4 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Carlsberg AS Business Description

Address J.C. Jacobsens Gade 1, Copenhagen, DNK, 1799
Carlsberg is the third-largest brewer in the world after Anheuser-Busch InBev and Heineken. It holds leading share in Scandinavia, western China, and several other markets in Asia. Its key brands include Carlsberg, 1664, Tuborg, Holsten, and Somersby. The company's 2025 beverage volume was split among Western Europe (42%), Eastern Europe and India (28%), and Asia (30%).
81GF Score

Get the complete analysis for LTS:0AI4

EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

kr877.30
Price
kr1,097.38
GF Value