Carlsberg

CARL.B · Nasdaq Copenhagen · DKK

kr 857.20+1.81%+kr 15.20

Close · October 2, 2026

At a glance

Revenue growth: +18.78%; 2025 vs 2024
Net income growth: −34.68%; 2025 vs 2024
Net margin: 6.7%; 2024: 12.2%

Financial data

Amounts in millions of DKK; per-share values in DKK; shares in millions.

Balance sheet · Quarterly
Item	Q2 2026	Q4 2025	Q2 2025	Q4 2024	Q2 2024	Q4 2023	Q2 2023	Q4 2022	Q2 2022	Q4 2021
Total assets	163,710	153,955	154,621	113,992	112,274	111,831	121,006	115,341	128,265	126,383
Current assets	35,975	29,249	34,640	26,347	29,514	30,198	40,289	34,249	46,489	23,091
Cash and equivalents	9,166	9,585	9,447	11,542	10,709	13,382	11,237	8,163	13,287	8,344
Short-term investments	487	—	653	59.0	—	2,236	—	—	—	—
Receivables	18,420	11,085	16,521	7,608	12,284	7,934	12,267	7,786	11,005	8,236
Inventory	7,902	7,110	8,019	5,953	6,521	5,811	6,700	5,718	5,674	5,391
Net property, plant and equipment	34,011	32,780	30,960	27,053	25,077	24,405	23,591	23,679	23,669	26,648
Goodwill	60,124	59,324	—	42,258	—	38,315	—	38,453	—	52,484
Other intangible assets	23,899	23,907	81,040	10,918	49,209	10,785	49,029	10,770	50,248	15,991
Long-term investments	—	4,325	—	4,546	—	5,437	—	5,523	—	5,172
Current liabilities	54,687	48,546	49,672	46,023	49,736	47,230	60,721	48,747	58,156	43,282
Accounts payable	31,011	26,877	28,786	23,295	25,803	22,159	25,054	21,917	24,373	20,642
Long-term debt	48,822	59,149	64,756	25,724	29,449	29,428	19,928	21,662	21,751	21,743
Total debt	60,112	70,623	74,080	—	—	—	—	—	—	—
Total liabilities	118,914	123,279	126,852	83,380	88,272	86,082	90,291	80,619	90,560	77,627
Total equity (incl. minority)	44,796	30,676	27,769	30,612	24,002	25,749	30,715	34,722	37,705	48,756
Retained earnings	28,273	28,345	25,620	25,582	21,484	23,306	69,478	70,776	68,547	80,283
Minority interest	2,866	2,872	2,748	2,841	2,341	2,515	2,429	2,820	4,293	3,259