Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.
Carlsberg AS's operating assets for the quarter that ended in Dec. 2025 was kr144,370 Mil. Carlsberg AS's operating liabilities for the quarter that ended in Dec. 2025 was kr52,656 Mil. Carlsberg AS's Total Assets for the quarter that ended in Jun. 2025 was kr154,621 Mil. Therefore, Carlsberg AS's scaled net operating assets (SNOA) for the quarter that ended in Dec. 2025 was 0.59.
Carlsberg AS Scaled Net Operating Assets Related Terms
Carlsberg AS Scaled Net Operating Assets Historical Data
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The historical data trend for Carlsberg AS's Scaled Net Operating Assets 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.
LTS:0AI3 vs STZ, TAP: Scaled Net Operating Assets Comparison
For the Beverages - Brewers subindustry, Carlsberg AS's Scaled Net Operating Assets, along with its competitors' market caps and Scaled Net Operating Assets 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 Scaled Net Operating Assets vs Beverages - Alcoholic Industry
For the Beverages - Alcoholic industry and Consumer Defensive sector, Carlsberg AS's Scaled Net Operating Assets distribution charts can be found below:
* The bar in red indicates where Carlsberg AS's Scaled Net Operating Assets 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.
What does a Scaled Net Operating Assets of 0.59 mean?
Carlsberg AS (LTS:0AI3) has a Scaled Net Operating Assets of 0.59 as of Dec. 2025. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Carlsberg AS and its competitors.
Is Carlsberg AS's Scaled Net Operating Assets too high?
Carlsberg AS's current Scaled Net Operating Assets is 0.59. 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 Scaled Net Operating Assets compare to STZ and TAP?
Carlsberg AS's Scaled Net Operating Assets of 0.59 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 Scaled Net Operating Assets for a Beverages - Alcoholic company?
A good Scaled Net Operating Assets depends on the Beverages - Alcoholic industry context. However, Scaled Net Operating Assets 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 Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Carlsberg AS and its competitors. Carlsberg AS's current Scaled Net Operating Assets is 0.59. 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 Scaled Net Operating Assets is 0.59. 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 Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For Carlsberg AS (LTS:0AI3), the current Scaled Net Operating Assets is 0.59 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:
Scaled Net Operating Assets: 0.59
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
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