CARLSBERG AS-B (CBGB.DE) Stock Fundamental Analysis

FRA:CBGB • DK0010181759

131.75 EUR
+1.5 (+1.15%)
Last: Feb 26, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

3

We assign a fundamental rating of 3 out of 10 to CBGB. CBGB was compared to 30 industry peers in the Beverages industry. There are concerns on the financial health of CBGB while its profitability can be described as average. CBGB is valued expensive and it does not seem to be growing. CBGB also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

6

1. Profitability

1.1 Basic Checks

  • In the past year CBGB was profitable.
  • CBGB had a positive operating cash flow in the past year.
  • The reported net income has been mixed in the past 5 years: CBGB reported negative net income in multiple years.
  • CBGB had a positive operating cash flow in each of the past 5 years.
CBGB.DE Yearly Net Income VS EBIT VS OCF VS FCFCBGB.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10B -10B -20B -30B -40B

1.2 Ratios

  • The Return On Assets of CBGB (5.78%) is better than 80.00% of its industry peers.
  • CBGB has a better Return On Equity (35.73%) than 86.67% of its industry peers.
  • Looking at the Return On Invested Capital, with a value of 8.91%, CBGB is in the better half of the industry, outperforming 76.67% of the companies in the same industry.
  • Measured over the past 3 years, the Average Return On Invested Capital for CBGB is significantly above the industry average of 7.64%.
Industry RankSector Rank
ROA 5.78%
ROE 35.73%
ROIC 8.91%
ROA(3y)-9.78%
ROA(5y)-3.77%
ROE(3y)-48.69%
ROE(5y)-23.03%
ROIC(3y)12.89%
ROIC(5y)11.3%
CBGB.DE Yearly ROA, ROE, ROICCBGB.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -50 -100 -150

1.3 Margins

  • With a decent Profit Margin value of 10.89%, CBGB is doing good in the industry, outperforming 63.33% of the companies in the same industry.
  • CBGB's Profit Margin has improved in the last couple of years.
  • CBGB's Operating Margin of 14.12% is in line compared to the rest of the industry. CBGB outperforms 46.67% of its industry peers.
  • In the last couple of years the Operating Margin of CBGB has remained more or less at the same level.
  • The Gross Margin of CBGB (45.73%) is comparable to the rest of the industry.
  • CBGB's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 14.12%
PM (TTM) 10.89%
GM 45.73%
OM growth 3Y-4.19%
OM growth 5Y-1.39%
PM growth 3Y2.18%
PM growth 5Y4.04%
GM growth 3Y-1.21%
GM growth 5Y-1.54%
CBGB.DE Yearly Profit, Operating, Gross MarginsCBGB.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20 40 -40

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ROAROEROICOperating and Profit MarginShow most profitable peers

2

2. Health

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), CBGB is creating value.
  • The number of shares outstanding for CBGB has been reduced compared to 1 year ago.
  • Compared to 5 years ago, CBGB has less shares outstanding
  • Compared to 1 year ago, CBGB has an improved debt to assets ratio.
CBGB.DE Yearly Shares OutstandingCBGB.DE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M
CBGB.DE Yearly Total Debt VS Total AssetsCBGB.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 20B 40B 60B 80B 100B

2.2 Solvency

  • CBGB has an Altman-Z score of 1.50. This is a bad value and indicates that CBGB is not financially healthy and even has some risk of bankruptcy.
  • CBGB has a Altman-Z score of 1.50. This is in the lower half of the industry: CBGB underperforms 76.67% of its industry peers.
  • CBGB has a debt to FCF ratio of 14.04. This is a negative value and a sign of low solvency as CBGB would need 14.04 years to pay back of all of its debts.
  • With a Debt to FCF ratio value of 14.04, CBGB is not doing good in the industry: 80.00% of the companies in the same industry are doing better.
  • A Debt/Equity ratio of 2.67 is on the high side and indicates that CBGB has dependencies on debt financing.
  • CBGB has a worse Debt to Equity ratio (2.67) than 93.33% of its industry peers.
Industry RankSector Rank
Debt/Equity 2.67
Debt/FCF 14.04
Altman-Z 1.5
ROIC/WACC2.18
WACC4.08%
CBGB.DE Yearly LT Debt VS Equity VS FCFCBGB.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 10B 20B 30B 40B 50B

2.3 Liquidity

  • A Current Ratio of 0.70 indicates that CBGB may have some problems paying its short term obligations.
  • The Current ratio of CBGB (0.70) is worse than 90.00% of its industry peers.
  • CBGB has a Quick Ratio of 0.70. This is a bad value and indicates that CBGB is not financially healthy enough and could expect problems in meeting its short term obligations.
  • With a Quick ratio value of 0.54, CBGB is not doing good in the industry: 66.67% of the companies in the same industry are doing better.
Industry RankSector Rank
Current Ratio 0.7
Quick Ratio 0.54
CBGB.DE Yearly Current Assets VS Current LiabilitesCBGB.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 10B 20B 30B 40B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

1

3. Growth

3.1 Past

  • The earnings per share for CBGB have decreased strongly by -26.75% in the last year.
EPS 1Y (TTM)-26.75%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%N/A
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%-47.3%

3.2 Future

  • Based on estimates for the next years, CBGB will show a quite strong growth in Earnings Per Share. The EPS will grow by 8.50% on average per year.
  • The Revenue is expected to decrease by -1.86% on average over the next years.
EPS Next Y7.55%
EPS Next 2Y11.68%
EPS Next 3Y10.06%
EPS Next 5Y8.5%
Revenue Next Year-2.58%
Revenue Next 2Y-2.06%
Revenue Next 3Y-1.48%
Revenue Next 5Y-1.86%

3.3 Evolution

CBGB.DE Yearly Revenue VS EstimatesCBGB.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 20B 40B 60B 80B 100B
CBGB.DE Yearly EPS VS EstimatesCBGB.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 20 40 60 80 100

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Find the best growth stocksShow best growing peers

1

4. Valuation

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 37.32, which means the current valuation is very expensive for CBGB.
  • Compared to the rest of the industry, the Price/Earnings ratio of CBGB indicates a rather expensive valuation: CBGB more expensive than 80.00% of the companies listed in the same industry.
  • The average S&P500 Price/Earnings ratio is at 27.10. CBGB is valued slightly more expensive when compared to this.
  • CBGB is valuated quite expensively with a Price/Forward Earnings ratio of 29.90.
  • Based on the Price/Forward Earnings ratio, CBGB is valued more expensive than 80.00% of the companies in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 28.06. CBGB is around the same levels.
Industry RankSector Rank
PE 37.32
Fwd PE 29.9
CBGB.DE Price Earnings VS Forward Price EarningsCBGB.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • CBGB's Enterprise Value to EBITDA ratio is in line with the industry average.
  • Based on the Price/Free Cash Flow ratio, CBGB is valued a bit more expensive than 63.33% of the companies in the same industry.
Industry RankSector Rank
P/FCF 24.75
EV/EBITDA 11.82
CBGB.DE Per share dataCBGB.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 -20 40 -40 60 80

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
  • The decent profitability rating of CBGB may justify a higher PE ratio.
PEG (NY)4.94
PEG (5Y)N/A
EPS Next 2Y11.68%
EPS Next 3Y10.06%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

7

5. Dividend

5.1 Amount

  • CBGB has a Yearly Dividend Yield of 2.86%.
  • CBGB's Dividend Yield is a higher than the industry average which is at 2.30.
  • Compared to an average S&P500 Dividend Yield of 1.80, CBGB pays a better dividend.
Industry RankSector Rank
Dividend Yield 2.86%

5.2 History

  • On average, the dividend of CBGB grows each year by 8.19%, which is quite nice.
Dividend Growth(5Y)8.19%
Div Incr YearsN/A
Div Non Decr YearsN/A
CBGB.DE Yearly Dividends per shareCBGB.DE Yearly Dividends per shareYearly Dividends per share 2026 5 10 15 20 25

5.3 Sustainability

  • 39.92% of the earnings are spent on dividend by CBGB. This is a low number and sustainable payout ratio.
  • CBGB's earnings are growing around the same pace than its dividend. As long as the earnings growth is kept the dividend growth is sustainable.
DP39.92%
EPS Next 2Y11.68%
EPS Next 3Y10.06%
CBGB.DE Yearly Income VS Free CF VS DividendCBGB.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -10B -20B -30B -40B
CBGB.DE Dividend Payout.CBGB.DE Dividend Payout, showing the Payout Ratio.CBGB.DE Dividend Payout.PayoutRetained Earnings

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Find the best dividend stocksShow peers with best dividend

CARLSBERG AS-B

FRA:CBGB (2/26/2026, 7:00:00 PM)

131.75

+1.5 (+1.15%)

Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupFood, Beverage & Tobacco
GICS IndustryBeverages
Earnings (Last)02-04
Earnings (Next)08-12
Inst Owners49.99%
Inst Owner ChangeN/A
Ins Owners0.02%
Ins Owner ChangeN/A
Market Cap17.48B
Revenue(TTM)65.35B
Net Income(TTM)8.94B
Analysts78.67
Price Target136.24 (3.41%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.86%
Yearly Dividend3.62
Dividend Growth(5Y)8.19%
DP39.92%
Div Incr YearsN/A
Div Non Decr YearsN/A
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0.05%
PT rev (3m)1.68%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0%
EPS NY rev (3m)-0.28%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.31%
Valuation
Industry RankSector Rank
PE 37.32
Fwd PE 29.9
P/S 1.59
P/FCF 24.75
P/OCF 12.16
P/B 5.22
P/tB N/A
EV/EBITDA 11.82
EPS(TTM)3.53
EY2.68%
EPS(NY)4.41
Fwd EY3.34%
FCF(TTM)5.32
FCFY4.04%
OCF(TTM)10.84
OCFY8.22%
SpS82.83
BVpS25.24
TBVpS-56.52
PEG (NY)4.94
PEG (5Y)N/A
Graham Number44.78
Profitability
Industry RankSector Rank
ROA 5.78%
ROE 35.73%
ROCE 11.05%
ROIC 8.91%
ROICexc 9.86%
ROICexgc 67.7%
OM 14.12%
PM (TTM) 10.89%
GM 45.73%
FCFM 6.43%
ROA(3y)-9.78%
ROA(5y)-3.77%
ROE(3y)-48.69%
ROE(5y)-23.03%
ROIC(3y)12.89%
ROIC(5y)11.3%
ROICexc(3y)15.76%
ROICexc(5y)13.4%
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)15.98%
ROCE(5y)14.01%
ROICexgc growth 3Y27.92%
ROICexgc growth 5Y36.11%
ROICexc growth 3Y13.8%
ROICexc growth 5Y10.01%
OM growth 3Y-4.19%
OM growth 5Y-1.39%
PM growth 3Y2.18%
PM growth 5Y4.04%
GM growth 3Y-1.21%
GM growth 5Y-1.54%
F-Score7
Asset Turnover0.53
Health
Industry RankSector Rank
Debt/Equity 2.67
Debt/FCF 14.04
Debt/EBITDA 4.07
Cap/Depr 113.41%
Cap/Sales 6.66%
Interest Coverage 8.51
Cash Conversion 65.44%
Profit Quality 59.02%
Current Ratio 0.7
Quick Ratio 0.54
Altman-Z 1.5
F-Score7
WACC4.08%
ROIC/WACC2.18
Cap/Depr(3y)105.07%
Cap/Depr(5y)101.51%
Cap/Sales(3y)6.06%
Cap/Sales(5y)6.44%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-26.75%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%N/A
EPS Next Y7.55%
EPS Next 2Y11.68%
EPS Next 3Y10.06%
EPS Next 5Y8.5%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%-47.3%
Revenue Next Year-2.58%
Revenue Next 2Y-2.06%
Revenue Next 3Y-1.48%
Revenue Next 5Y-1.86%
EBIT growth 1Y9.83%
EBIT growth 3Y3.16%
EBIT growth 5Y1.2%
EBIT Next Year63.2%
EBIT Next 3Y22.73%
EBIT Next 5Y16.4%
FCF growth 1Y-18.48%
FCF growth 3Y-9.14%
FCF growth 5Y-3.87%
OCF growth 1Y0.6%
OCF growth 3Y-2.69%
OCF growth 5Y-1.56%

CARLSBERG AS-B / CBGB.DE FAQ

What is the fundamental rating for CBGB stock?

ChartMill assigns a fundamental rating of 3 / 10 to CBGB.DE.


What is the valuation status of CARLSBERG AS-B (CBGB.DE) stock?

ChartMill assigns a valuation rating of 1 / 10 to CARLSBERG AS-B (CBGB.DE). This can be considered as Overvalued.


What is the profitability of CBGB stock?

CARLSBERG AS-B (CBGB.DE) has a profitability rating of 6 / 10.


What is the valuation of CARLSBERG AS-B based on its PE and PB ratios?

The Price/Earnings (PE) ratio for CARLSBERG AS-B (CBGB.DE) is 37.32 and the Price/Book (PB) ratio is 5.22.


What is the financial health of CARLSBERG AS-B (CBGB.DE) stock?

The financial health rating of CARLSBERG AS-B (CBGB.DE) is 2 / 10.