Carlsberg AS (LTS:0AI3) ROE % Adjusted to Book Value: 4.48% (As of Dec. 2025)


LTS:0AI3 Carlsberg AS LTS:0AI3
82 GF Score
Price kr1,075.00
GF Value kr1,358.70
Valuation Modestly Undervalued
! 4 Warning Signs
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What is Carlsberg AS ROE % Adjusted to Book Value?

Carlsberg AS LTS:0AI3 82 ROE % Adjusted to Book Value is 4.48% as of Dec. 2025. GuruFocus rates LTS:0AI3 with a GF Score™ of 82/100 and a GF Value™ of kr1,358.70 (Modestly Undervalued). The stock has 4 warning signs investors should review.

Carlsberg AS's ROE % for the quarter that ended in Dec. 2025 was 19.64%. Carlsberg AS's PB Ratio for the quarter that ended in Dec. 2025 was 4.38. Carlsberg AS's ROE % Adjusted to Book Value for the quarter that ended in Dec. 2025 was 4.48%.

Carlsberg AS ROE % Adjusted to Book Value Related Terms

Carlsberg AS ROE % Adjusted to Book Value Historical Data

* Premium members only.

The historical data trend for Carlsberg AS's ROE % Adjusted to Book 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.

Carlsberg AS ROE % Adjusted to Book Value Chart

Carlsberg AS Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
ROE % Adjusted to Book Value
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.52 -0.54 -23.41 8.92 4.89

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
ROE % Adjusted to Book Value 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 -54.40 4.86 10.85 5.17 4.48

LTS:0AI3 vs STZ, TAP: ROE % Adjusted to Book Value Comparison

For the Beverages - Brewers subindustry, Carlsberg AS's ROE % Adjusted to Book Value, along with its competitors' market caps and ROE % Adjusted to Book 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 ROE % Adjusted to Book Value vs Beverages - Alcoholic Industry

For the Beverages - Alcoholic industry and Consumer Defensive sector, Carlsberg AS's ROE % Adjusted to Book Value distribution charts can be found below:

* The bar in red indicates where Carlsberg AS's ROE % Adjusted to Book Value falls into.


LTS:0AI3
82GF Score
Carlsberg AS LTS:0AI3
ROE % Adjusted to Book Value is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Carlsberg AS ROE % Adjusted to Book Value Calculation

Carlsberg AS's ROE % Adjusted to Book Value for the fiscal year that ended in Dec. 2025 is calculated as

ROE % Adjusted to Book Value=ROE % / PB Ratio
=21.43% / 4.38
=4.89%

Carlsberg AS's ROE % Adjusted to Book Value for the quarter that ended in Dec. 2025 is calculated as

ROE % Adjusted to Book Value=ROE % / PB Ratio
=19.64% / 4.38
=4.48%

* 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 ROE % Adjusted to Book Value of 4.48% mean?
Carlsberg AS (LTS:0AI3) has a ROE % Adjusted to Book Value of 4.48% as of Dec. 2025. Return on equity adjusted to book is the ratio of return on equity to price-book ratio. View historical data on Carlsberg AS and its competitors.
Is Carlsberg AS's ROE % Adjusted to Book Value too high?
Carlsberg AS's current ROE % Adjusted to Book Value is 4.48%. 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 ROE % Adjusted to Book Value compare to STZ and TAP?
Carlsberg AS's ROE % Adjusted to Book Value of 4.48% 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 ROE % Adjusted to Book Value for a Beverages - Alcoholic company?
A good ROE % Adjusted to Book Value depends on the Beverages - Alcoholic industry context. However, ROE % Adjusted to Book 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 ROE % Adjusted to Book Value mean?
A high ROE % Adjusted to Book Value can signal that a stock is expensive relative to its fundamentals. Return on equity adjusted to book is the ratio of return on equity to price-book ratio. View historical data on Carlsberg AS and its competitors. Carlsberg AS's current ROE % Adjusted to Book Value is 4.48%. 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 ROE % Adjusted to Book Value is 4.48%. 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 ROE % Adjusted to Book Value calculated?
ROE % Adjusted to Book Value is calculated from a company's financial statements. For Carlsberg AS (LTS:0AI3), the current ROE % Adjusted to Book Value is 4.48% 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: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:

  • ROE % Adjusted to Book Value: 4.48%
  • GF Value™: kr1,358.70 vs. price of kr1,075.00 (20.9% below fair value)
  • GF Score™: 82/100 with 4 warning signs

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 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%).
82GF Score

Get the complete analysis for LTS:0AI3

ROE % Adjusted to Book Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

kr1,075.00
Price
kr1,358.70
GF Value