Valuation Carlsberg LIQUIDNET SYSTEMS

Stocks

Delayed LIQUIDNET SYSTEMS Other stock markets 03:54:42 2018-10-09 EDT			5-day change	1st Jan Change
732.10 ^DKK	-4.81%		-.--%	-

07-20	Coca-Cola appoints JPMorgan, Citi for India bottler IPO, sources say	RE
07-17	Morgan Stanley: World Cup gave a smaller beer boost than expected, Carlsberg delivers a positive surprise	FW

Data adjusted to current consolidation scope

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Market Cap ¹	163,149	133,594	122,775	95,313	113,844	128,076	-	-
Change	-	-18.12%	-8.1%	-22.37%	19.44%	12.5%	-	-
Enterprise Value (EV) ¹	182,311	152,920	145,126	122,670	175,461	182,529	178,621	175,230
Change	-	-16.12%	-5.1%	-15.47%	43.03%	4.03%	-2.14%	-1.9%
P/E	23.8x	-121x	-2.83x	10x	18.5x	14.9x	13.4x	12.2x
PBR	3.65x	3.97x	4.89x	3.28x	3.97x	3.43x	3.09x	2.85x
PEG	-	1x	-0x	-0x	-0.5x	0.4x	1.2x	1.2x
Capitalization / Revenue	2.45x	1.9x	1.67x	1.27x	1.28x	1.38x	1.33x	1.28x
EV / Revenue	2.74x	2.18x	1.97x	1.64x	1.97x	1.97x	1.86x	1.76x
EV / EBITDA	11.8x	9.77x	9.56x	7.77x	9.34x	9.16x	8.47x	7.9x
EV / EBIT	16.8x	13.3x	13.1x	10.8x	13.1x	12.6x	11.6x	10.7x
EV / FCF	20.5x	15.5x	29.8x	12.5x	-8.1x	21.6x	19x	17.1x
FCF Yield	4.87%	6.46%	3.36%	7.98%	-12.3%	4.64%	5.25%	5.85%
Dividend per Share ²	24	27	27	27	29	31.33	34.14	37.03
Rate of return	2.12%	2.92%	3.19%	3.91%	3.47%	3.43%	3.74%	4.06%
EPS ²	47.4	-7.6	-299.7	68.7	45.1	61.22	68	74.95
Distribution rate	50.6%	-355%	-9.01%	39.3%	64.3%	51.2%	50.2%	49.4%
Net sales ¹	66,634	70,265	73,585	75,011	89,095	92,802	96,242	99,779
EBITDA ¹	15,474	15,657	15,179	15,781	18,784	19,937	21,079	22,188
EBIT ¹	10,862	11,470	11,105	11,411	13,356	14,495	15,442	16,360
Net income ¹	6,846	-1,063	-40,788	9,116	5,955	8,112	9,050	9,898
Net Debt ¹	19,162	19,326	22,351	27,357	61,617	54,454	50,545	47,155
Reference price ²	1,129.50	923.20	846.80	690.00	835.20	912.20	912.20	912.20
Nbr of stocks (in thousands)	141,892	137,341	134,114	132,079	132,079	132,172	-	-
Announcement Date	2/4/22	2/7/23	2/7/24	2/6/25	2/4/26	-	-	-

¹DKK in Million²DKK

Estimates

Add to a list 0 selected To use this feature you must be a member Log in Sign up	P/E (Y)	EV / Sales (Y)	EV / EBITDA (Y)	Dividend Yield (Y)	Capi.($)
ANHEUSER-BUSCH INBEV SA/NV	17.62x	3.42x	9.46x	1.74%	161B
AMBEV S.A.	15.55x	2.52x	7.45x	5.92%	49.41B
HEINEKEN N.V.	16.9x	1.9x	8.4x	2.61%	47.7B
CONSTELLATION BRANDS, INC.	11.09x	3.62x	9.73x	3.13%	22.55B
ASAHI GROUP HOLDINGS, LTD.	17.52x	1.27x	9.09x	3.11%	14.61B
KIRIN HOLDINGS COMPANY, LIMITED	13.43x	1.23x	8.58x	2.63%	14.24B
BUDWEISER BREWING COMPANY APAC LIMITED	18.43x	1.46x	5.44x	6.37%	11.28B
Average	15.79x	2.20x	8.31x	3.64%	45.89B
Weighted average by Cap.	16.57x	2.81x	8.81x	2.87%