Think of Enterprise Value as the theoretical takeover price. It is more comprehensive than market capitalization (Market Cap), which only includes common equity. Enterprise Value is calculated as the market cap plus debt and minority interest and preferred shares, minus total cash, cash equivalents, and marketable securities.
EV-to-EBIT is calculated as Enterprise Value divided by its EBIT. As of today, Carlsberg AS's Enterprise Value is kr185,977 Mil.
Carlsberg AS's EBIT for the trailing twelve months (TTM) ended in Dec. 2025 was kr12,236 Mil. Therefore, Carlsberg AS's EV-to-EBIT ratio for today is 15.20.
EV-to-EBITDA is calculated as Enterprise Value divided by its EBITDA. As of today, Carlsberg AS's Enterprise Value is kr185,977 Mil.
Carlsberg AS's EBITDA for the trailing twelve months (TTM) ended in Dec. 2025 was kr17,374 Mil. Therefore, Carlsberg AS's EV-to-EBITDA ratio for today is 10.70.
EV-to-Revenue is calculated as Enterprise Value divided by its Revenue. As of today, Carlsberg AS's Enterprise Value is kr185,977 Mil.
Carlsberg AS's Revenue for the trailing twelve months (TTM) ended in Dec. 2025 was kr89,095 Mil. Therefore, Carlsberg AS's EV-to-Revenue ratio for today is 2.09.
EV-to-FCF is calculated as Enterprise Value divided by its Free Cash Flow. As of today, Carlsberg AS's Enterprise Value is kr185,977 Mil.
Carlsberg AS's Free Cash Flow for the trailing twelve months (TTM) ended in Dec. 2025 was kr6,839 Mil. Therefore, Carlsberg AS's EV-to-FCF ratio for today is 27.19.
*** Please note that the current Enterprise Value is calculated using the current market capitalization and the most recently available financial data. If key financial fields—Long-Term Debt & Capital Lease Obligation and Short-Term Debt & Capital Lease Obligation—are recorded as null in the latest reporting period, our data vendor will default to using data from the prior period with valid entries.
Carlsberg AS (LTS:0AI3) Enterprise Value Explanation
When an investor buy a company, the investor needs to pay not only the common shares, he/she also needs to pay the shareholders of Preferred Stocks. He also assumes the debt of the company, and receives the cash on the company's balance sheet.
If a company has more cash than debt, the investor actually pays less than the Market Cap because he immediately owns the cash once the transaction goes through.
The market value of Preferred Stock needs to be added to the market value of common stocks in the calculation of Enterprise Value.
For the companies with the same Market Cap, the smaller the Enterprise Value is, the cheaper the company is.
Enterprise Value can be negative when the company's net cash is more than its Market Cap. In this case the investor is basically getting the company for free and get paid for that.
1. EV-to-EBIT is calculated as Enterprise Value divided by its EBIT.
Carlsberg AS's current Enterprise Value is kr185,977 Mil.
For company reported semi-annually or annually, GuruFocus uses latest annual data as the TTM data. Carlsberg AS's EBIT for the trailing twelve months (TTM) ended in Dec. 2025 was kr12,236 Mil.
2. EV-to-EBITDA is calculated as Enterprise Value divided by its EBITDA.
Carlsberg AS's current Enterprise Value is kr185,977 Mil.
For company reported semi-annually or annually, GuruFocus uses latest annual data as the TTM data. Carlsberg AS's EBITDA for the trailing twelve months (TTM) ended in Dec. 2025 was kr17,374 Mil.
Carlsberg AS's current Enterprise Value is kr185,977 Mil.
For company reported semi-annually or annually, GuruFocus uses latest annual data as the TTM data. Carlsberg AS's Revenue for the trailing twelve months (TTM) ended in Dec. 2025 was kr89,095 Mil.
Carlsberg AS's current Enterprise Value is kr185,977 Mil.
For company reported semi-annually or annually, GuruFocus uses latest annual data as the TTM data. Carlsberg AS's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2025 was kr12,431 Mil.
Carlsberg AS's current Enterprise Value is kr185,977 Mil.
For company reported semi-annually or annually, GuruFocus uses latest annual data as the TTM data. Carlsberg AS's Free Cash Flow for the trailing twelve months (TTM) ended in Dec. 2025 was kr6,839 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.
Carlsberg AS Enterprise Value Related Terms
Carlsberg AS Enterprise Value Historical Data
* Premium members only.
The historical data trend for Carlsberg AS's Enterprise Value 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.
For the Beverages - Brewers subindustry, Carlsberg AS's Enterprise Value, along with its competitors' market caps and Enterprise Value 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 Enterprise Value vs Beverages - Alcoholic Industry
For the Beverages - Alcoholic industry and Consumer Defensive sector, Carlsberg AS's Enterprise Value distribution charts can be found below:
* The bar in red indicates where Carlsberg AS's Enterprise Value falls into.
Enterprise Value is calculated as the market cap plus debt and minority interest and preferred shares, minus total cash, cash equivalents, and marketable securities.
Carlsberg AS's Enterprise Value for the fiscal year that ended in Dec. 2025 is calculated as
* 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.
What does a Enterprise Value of kr185,977 Mil mean?
Carlsberg AS (LTS:0AI3) has a Enterprise Value of kr185,977 Mil as of Jun. 27, 2026. Enterprise value equals the sum of market cap, debt and preferred shares less cash and equivalents. View historical data on Carlsberg AS and its competitors.
Is Carlsberg AS's Enterprise Value too high?
Carlsberg AS's current Enterprise Value is kr185,977 Mil. Overall, Carlsberg AS has a GF Score™ of 82/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Carlsberg AS's Enterprise Value compare to STZ and TAP?
Carlsberg AS's Enterprise Value of kr185,977 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 Enterprise Value for a Beverages - Alcoholic company?
A good Enterprise Value depends on the Beverages - Alcoholic industry context. However, Enterprise Value 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 Enterprise Value mean?
A high Enterprise Value can signal that a stock is expensive relative to its fundamentals. Enterprise value equals the sum of market cap, debt and preferred shares less cash and equivalents. View historical data on Carlsberg AS and its competitors. Carlsberg AS's current Enterprise Value is kr185,977 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:0AI3) is currently considered Modestly Undervalued. The stock's GF Value™ is kr1,358.70, compared to a current price of kr1,075.00 — trading 20.9% below its estimated fair value. The current Enterprise Value is kr185,977 Mil. Carlsberg AS's overall GF Score™ is 82/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Enterprise Value calculated?
Enterprise Value is calculated from a company's financial statements. For Carlsberg AS (LTS:0AI3), the current Enterprise Value is kr185,977 Mil as of Jun. 27, 2026. 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:0AI3) Overvalued in 2026?
Based on GuruFocus' analysis, Carlsberg AS stock appears to be undervalued.
The current stock price of kr1,075.00 is trading 20.9% below its estimated GF Value™ of kr1,358.70.
GuruFocus considers Carlsberg AS to be Modestly Undervalued.
Key valuation signals for LTS:0AI3:
Enterprise Value: kr185,977 Mil
GF Value™: kr1,358.70 vs. price of kr1,075.00 (20.9% below fair value)
No single metric tells the full story. See the LTS:0AI3 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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%).
82GF Score
Get the complete analysis for LTS:0AI3
Enterprise Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
LTS:0AI3 has been successfully added to your 
