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Brews and markets beer, soft drinks and malt beverages, mainly in Denmark, the Nordics and Baltics.
Brews and markets beer, soft drinks and malt beverages, mainly in Denmark, the Nordics and Baltics.
Earns by selling beer and soft drinks in volume to grocery chains and to bars and restaurants, where draught and packaged sales are priced differently. Denmark, the wider Nordics and the Baltics are home ground, and acquisitions of local beverage firms have extended its reach into neighboring markets.
Moat: narrow (brand, distribution, scale). Strong regional brand portfolio and distribution scale in Nordic/Baltic markets few can match.
Headquarters: Faxe, Denmark · Employees: 4,336
Size Royal Unibrew A/S (RBREW.CO) is a Denmark Consumer Staples company (Beverages: Alcoholic) with a market value of $3.37B, the 27th largest of 59 Denmark companies the cockpit tracks. Shares closed at DKK 454.00 on 6 Nov 2026.
Performance Over six months the shares gained 11.2%, against -5.9% for the median peer and +8.8% for the Denmark market (cap-weighted) — 10th highest of 21 in its peer set.
Growth Revenue grew 3.4% over the last twelve months (peer median -4.5%); the operating margin is 14.3% (peer median 13.0%).
Valuation It trades at 13.3× forward earnings against a peer median of 25.2× (2nd cheapest of 21).
Price implies For today's price to make sense, revenue must grow about -7% a year for seven years (Req g). Recent delivered growth is +17%, so the hurdle is -24 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 8.8 points above its cost of capital (5.0% WACC).
Next results Next results expected around 11 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | DKK 15.8B | DKK 15.7B | DKK 15.0B | DKK 12.9B | DKK 11.5B |
| Revenue growth | — | +5% | +16% | +13% | — |
| Gross profit | DKK 6.88B | DKK 6.43B | DKK 6.06B | DKK 5.14B | DKK 4.63B |
| EBITDA | DKK 3.04B | DKK 2.93B | DKK 2.63B | DKK 2.18B | DKK 2.00B |
| Net income | DKK 1.61B | DKK 1.56B | DKK 1.46B | DKK 1.09B | DKK 1.49B |
| Free cash flow | DKK 1.59B | DKK 1.59B | DKK 1.44B | DKK 1.19B | DKK 687M |
| Capital expenditure | DKK 800M | DKK 841M | DKK 819M | DKK 612M | DKK 502M |
| Total debt | DKK 6.66B | DKK 5.81B | DKK 5.80B | DKK 6.48B | DKK 4.67B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Royal Unibrew A/S RBREW.CO | $3.37B | +11% | +3% | 14% | 13.3× | -7.1% |
| Carlsberg AS CARL-A.CO | $20.9B | +12% | +10% | 14% | 17.2× | -2.2% |
| Heineken HEIA.AS | $51.8B | +29% | +1% | 12% | 15.9× | 4.2% |
| Anheuser-Busch InBev SA/NV Sponsored ADR BUD | $168B | +5% | +7% | 26% | 18.9× | 2.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | RBREW.CO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +12.8% | +3.9% | 8th highest of 21 |
| 6-month return | +11.2% | -5.9% | 10th highest of 21 |
| Distance from 52-week high | -30.5% | -18.5% | 7th lowest of 21 |
| Revenue growth (TTM) | +3.4% | -4.5% | 7th highest of 21 |
| Operating margin | 14.3% | 13.0% | 10th highest of 21 |
| Forward P/E | 13.3× | 25.2× | 2nd cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | -7.1% | 6.5% | 2nd least demanding of 14 |
| Growth delivered (Del g) | +16.5% | +5.5% | 2nd highest of 14 |
| Hurdle (Req g minus delivered) | -23.7 pp | +4.0 pp | least demanding of 14 |
| ROIC minus cost of capital | +8.8 pp | -1.6 pp | 6th highest of 21 |
| EV / EBITDA | 9.6× | 20.2× | 2nd cheapest of 11 |
| Net debt / EBITDA | 2.2× | 1.3× | 5th most indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Royal Unibrew A/S RBREW.CO | Denmark | $3.37B | +11% | +3% | 14% | 13.3× | -7.1% | +16.5% |
| ZJLD 6979.HK | Hong Kong | $3.41B | -3% | -29% | 13% | 27.6× | n/a | n/a |
| United Breweries UBL.NS | India | $3.33B | -17% | +7% | 6% | 65.9× | n/a | n/a |
| Treasury Wine Estates TWE.AX | Australia | $3.56B | +52% | -12% | 17% | 18.4× | 9.3% | -0.4% |
| Remy Cointreau RCO.PA | France | $3.08B | +30% | -5% | 16% | 29.2× | 17.0% | -1.5% |
| Takara 2531.T | Japan | $3.84B | +75% | +9% | 4% | 34.6× | n/a | n/a |
| Guangzhou Zhujiang Brewery 002461.SZ | China | $2.91B | -15% | +2% | 15% | 19.8× | -5.8% | +6.9% |
| Chongqing Brewery 600132.SS | China | $2.88B | -28% | -4% | 20% | 17.3× | -8.9% | +6.2% |
| Beijing Yanjing Brewery 000729.SZ | China | $4.82B | -14% | +7% | 16% | 15.7× | -4.2% | +7.3% |
| Boston Beer SAM | United States | $2.24B | +12% | -4% | 5% | 21.0× | 6.5% | +2.5% |
| Sapporo Breweries 2501.T | Japan | $5.34B | +24% | -6% | 5% | 2.8× | 14.8% | +3.1% |
| Anhui Yingjia Distillery 603198.SS | China | $5.35B | +17% | 0% | 41% | 17.1× | 5.3% | +11.7% |
| Allied Blenders and Distillers ABDL.NS | India | $2.10B | +24% | -20% | 11% | 63.5× | n/a | n/a |
| Sichuan Swellfun 600779.SS | China | $2.06B | -13% | -30% | 20% | 46.3× | 16.6% | +0.1% |
| Compania Cervecerias Unidas S.A. Sponsored ADR CCU | United States | $2.02B | -9% | +6% | 7% | 13.7× | 0.4% | +5.5% |
| Radico Khaitan RADICO.NS | India | $6.37B | +33% | +16% | 17% | 66.7× | 45.1% | +20.5% |
| Jiangsu King's Luck Brewery Joint-stock 603369.SS | China | $6.40B | +25% | -5% | 33% | 16.2× | 1.9% | +15.3% |
| Jiugui Liquor 000799.SZ | China | $1.70B | -18% | +19% | -3% | 271.1× | n/a | n/a |
| Anhui Kouzi Distillery 603589.SS | China | $1.65B | -22% | -19% | 13% | 22.9× | n/a | n/a |
| Hebei Hengshui Laobaigan Liquor 600559.SS | China | $1.64B | -12% | -17% | 11% | 30.7× | 14.2% | +2.4% |
| Shede Spirits 600702.SS | China | $1.61B | -24% | -10% | -1% | 53.4× | n/a | n/a |