Company Valuation: Royal Unibrew A/S

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 35,326 24,578 22,579 25,302 28,151 20,975 - -
Change - -30.42% -8.13% 12.06% 11.26% -25.49% - -
Enterprise Value (EV) 1 38,862 29,038 29,005 30,998 33,881 26,980 27,101 26,966
Change - -25.28% -0.11% 6.87% 9.3% -20.37% 0.45% -0.5%
P/E 27.8x 21.4x 20.6x 17.3x 18.4x 13x 11.7x 10.5x
PBR 10.8x 4.82x 3.94x 3.96x 4.3x 3.18x 3x 2.78x
PEG - -1.7x -3.97x 0.5x 2.56x 1.49x 1.1x 0.9x
Capitalization / Revenue 4.04x 2.14x 1.75x 1.68x 1.79x 1.33x 1.28x 1.23x
EV / Revenue 4.44x 2.53x 2.24x 2.06x 2.15x 1.71x 1.65x 1.58x
EV / EBITDA 19.2x 14.5x 13.1x 11.8x 11.6x 8.69x 8.42x 7.77x
EV / EBIT 23.5x 19.2x 17.7x 15.8x 15.4x 11.4x 10.8x 10x
EV / FCF 29.3x 44x 24.7x 21.7x 21.3x 19.7x 17.2x 14.9x
FCF Yield 3.41% 2.27% 4.05% 4.61% 4.69% 5.09% 5.82% 6.7%
Dividend per Share 2 14.5 14.5 - 15 16 17.07 18.8 20.58
Rate of return 1.97% 2.93% - 2.97% 2.79% 3.86% 4.25% 4.65%
EPS 2 26.5 23.1 21.9 29.2 31.3 34.02 37.74 42.02
Distribution rate 54.7% 62.8% - 51.4% 51.1% 50.2% 49.8% 49%
Net sales 1 8,746 11,487 12,927 15,036 15,723 15,821 16,442 17,052
EBITDA 1 2,020 1,997 2,208 2,634 2,931 3,106 3,217 3,471
EBIT 1 1,652 1,516 1,638 1,968 2,202 2,361 2,512 2,691
Net income 1 1,298 1,492 1,095 1,464 1,560 1,658 1,779 1,921
Net Debt 1 3,536 4,460 6,426 5,696 5,730 6,005 6,126 5,992
Reference price 2 737.20 495.30 451.10 505.50 574.50 442.60 442.60 442.60
Nbr of stocks (in thousands) 47,919 49,623 50,053 50,053 49,000 47,389 - -
Announcement Date 3/1/22 3/1/23 2/28/24 2/25/25 2/26/26 - - -
1DKK in Million2DKK
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
13.01x1.71x8.69x3.86% 3.13B
16.79x3.36x9.36x1.83% 158B
16.73x1.95x8.7x2.53% 48.6B
13.64x2.26x6.75x7.07% 41.45B
11.3x3.65x9.98x3.05% 22.9B
15.88x1.95x9.09x3.21% 19.79B
12.7x1.28x8.83x3.43% 15.33B
13.45x1.25x8.74x2.68% 14.63B
Average 14.19x 2.18x 8.77x 3.46% 40.53B
Weighted average by Cap. 15.56x 2.74x 8.89x 2.91%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Royal Unibrew A/S

Historical PBR trend

Valuation ratios - PBR - Royal Unibrew A/S

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Royal Unibrew A/S

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Royal Unibrew A/S


Year-on-year evolution of the Yield

Valuation ratios - Yield - Royal Unibrew A/S
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