Carlsberg ASLTS:0AI4 +1.16%81 FCF Margin % is 9.81% as of Dec. 2025, which is 14% below its 10-year median of 11.38. 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. Among 210 Beverages - Alcoholic companies, Carlsberg AS ranks better than 60.48% on this metric.
FCF Margin % is calculated as Free Cash Flow divided by its Revenue. Carlsberg AS's Free Cash Flow for the
six
months ended in Dec. 2025 was kr4,242 Mil. Carlsberg AS's Revenue for the
six
months ended in Dec. 2025 was kr43,240 Mil. Therefore, Carlsberg AS's FCF Margin % for the quarter that ended in Dec. 2025 was 9.81%.
The historical rank and industry rank for Carlsberg AS's FCF Margin % or its related term are showing as below:
LTS:0AI4'
s FCF Margin % Range Over the Past 10 Years
Min: 7.68 Med: 11.38 Max: 13.94
Current: 7.68
During the past 13 years, the highest FCF Margin % of Carlsberg AS was 13.94%. The lowest was 7.68%. And the median was 11.38%.
LTS:0AI4's FCF Margin % is ranked better than 60.48% of 210
companies
in the Beverages - Alcoholic industry
Industry Median: 4.875
vs LTS:0AI4: 7.68
Carlsberg AS FCF Margin % Related Terms
Carlsberg AS FCF Margin % Historical Data
* Premium members only.
The historical data trend for Carlsberg AS's FCF Margin % 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 FCF Margin %, along with its competitors' market caps and FCF Margin % 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 FCF Margin % vs Beverages - Alcoholic Industry
For the Beverages - Alcoholic industry and Consumer Defensive sector, Carlsberg AS's FCF Margin % distribution charts can be found below:
* The bar in red indicates where Carlsberg AS's FCF Margin % falls into.
* 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 (LTS:0AI4) has a FCF Margin % of 9.81% as of Dec. 2025. Free cash flow margin is the ratio of total free cash flow to net sales. View historical data on Carlsberg AS and its competitors. This is 14% below median its historical median of 11.38. Over the past decade, Carlsberg AS's FCF Margin % has ranged from 7.68 to 13.94. According to the industry distribution chart, Carlsberg AS ranks #83 out of 210 companies in the Beverages - Alcoholic industry, placing it in the top 39.5%.
Is Carlsberg AS's FCF Margin % too high?
Carlsberg AS's current FCF Margin % of 9.81% is 14% below median its 10-year median of 11.38. Over the past 10 years, this metric has ranged from a low of 7.68 to a high of 13.94. The Beverages - Alcoholic industry median FCF Margin % is 4.88. Carlsberg AS's value of 9.81% is 101.2% above this industry median. Based on the distribution chart, Carlsberg AS ranks #83 out of 210 companies in the Beverages - Alcoholic industry, which is above the industry midpoint. 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 FCF Margin % compare to STZ and TAP?
According to the Beverages - Alcoholic industry distribution chart, Carlsberg AS ranks #83 out of 210 companies for FCF Margin %. This puts Carlsberg AS in the upper half of its industry. The industry median FCF Margin % is 4.88. Carlsberg AS's value of 9.81% is 101.2% above this benchmark. Historically, Carlsberg AS's own FCF Margin % has ranged from 7.68 to 13.94 over the past decade. While the company's 10-year median is 11.38 vs. the industry median of 4.88, Carlsberg AS has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good FCF Margin % for a Beverages - Alcoholic company?
The median FCF Margin % among Beverages - Alcoholic companies is 4.88, based on 210 companies in the industry. Companies in the top quartile (top 25%) have a FCF Margin % significantly above this median, while those in the bottom quartile fall well below. However, FCF Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Carlsberg AS's current FCF Margin % of 9.81% is 101.2% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high FCF Margin % mean?
A high FCF Margin % can signal that a stock is expensive relative to its fundamentals. Free cash flow margin is the ratio of total free cash flow to net sales. View historical data on Carlsberg AS and its competitors. For the Beverages - Alcoholic industry, the median FCF Margin % is 4.88 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Carlsberg AS's current FCF Margin % is 9.81%, which is 14% below median its own 10-year median of 11.38. 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 FCF Margin % is 9.81%, which is 14% below median its 10-year median of 11.38 and 101.2% above the Beverages - Alcoholic industry median of 4.88. 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 FCF Margin % calculated?
FCF Margin % is calculated from a company's financial statements. For Carlsberg AS (LTS:0AI4), the current FCF Margin % is 9.81% 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:
FCF Margin %: 9.81% (14% below median its 10-year median of 11.38)
GF Value™: kr1,097.38 vs. price of kr877.30 (20.1% below fair value)
Industry Position: 101.2% above the Beverages - Alcoholic median (#83 of 210)
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 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
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