Royal Unibrew A/S (RBREW) Fair Value & Analysis
Consumer Defensive · DK · Market cap 22.8B DKK (≈ $3.5B) · ISIN DK0060634707
What is Royal Unibrew A/S really worth?
A solid business, trading 36% below our fair value of kr 657.31.
Strengths
Risks
For context
Fair value as of: Aug 29, 2026
From 26 valuation models · updated 6 days ago
Share price −13.8% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- Solid quality (62/100) at a price below fair value, the discount is the argument here, not the business quality.
- A fairly wide model range (kr 347.20 to kr 853.29) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 29, 2026.
How to read this chart
60‑month range kr 358.91 – kr 740.84 · fair‑value band kr 347.20 – kr 853.29 · the kr 419.20 price screens below the kr 657.31 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 29, 2026.
Analysis
Royal Unibrew A/S (RBREW) currently trades at kr 419.20, while our model-based Fair Value estimate is kr 657.31, implying the stock looks roughly 36.2% undervalued today. The Quality Score stands at 62/100 (solid quality), in the Consumer Defensive sector. Bull case: the Multiples group reads highest at a median of kr 555.35 per share, and 17 of the 26 models we run sit above the kr 419.20 price. Bear case: the Asset-Based group reads lowest at kr 94.19, and 9 of the 26 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Royal Unibrew A/S generated revenue of 15.8B DKK at a net margin of 10.1%. Revenue grew 3.3% year over year. It earns a return on equity of 23.8%. Net debt stands at 6.0B DKK. Fundamentals as of Aug 29, 2026
Our scenario range runs from kr 347.20 (bear case) to kr 853.29 (bull case); at kr 419.20, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 33% below its 52-week high and 10% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at −5% fair-value upside, at 57%, RBREW screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly kr 11.02 per share, which is 1.7 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 26 models by family
Widest divergence: Multiples (kr 555.35) versus Asset-Based (kr 94.19). Highest evidence: FCF DCF (77).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 29, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 60 · Market factors (momentum, volatility) 40
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Royal Unibrew A/S provides beverages in Denmark, Germany, Norway, Sweden, Italy, the Netherlands, France, Finland, Lithuania, Latvia, Estonia, Belgium, Luxembourg, and internationally.
Full company description
Royal Unibrew A/S provides beverages in Denmark, Germany, Norway, Sweden, Italy, the Netherlands, France, Finland, Lithuania, Latvia, Estonia, Belgium, Luxembourg, and internationally. It offers soft drinks under the Faxe Kondi, Jaffa, Lemon Soda, Lorina, Royal Club, Fonti di Crodo, Adelhardt, Frem, Rebæl, Crystal Clear, Sisi, Sourcy Vitamin Water, Borg, Hansa, CB, and Pommac brands, as well as other partner brands. The company also provides energy drinks under the Faxe Kondi Booster, CULT, Crazy Tiger, Lemon Soda Energy, Jaffa Booster, and ED energy brands; water under the Novelle, Egekilde, Sourcy, Vichy Original, Olden, Mangali, and other partner brands; and malt beverages under the Vitamalt, Supermalt, and Powermalt brands. In addition, it offers beers under the Ceres Italy, Faxe, Royal, Hansa, Anarkist, Lapin Kulta, Amsterdam, Bauskas, Albani, Too Old To Die Young, Slots, Fuglsang, Thor, Nørrebro Bryghus, Schiøtz, Ceres Denmark, Borg, Kalnapilis, Helsinki Bryggeri, Tanker, Vilkmergés, Aura, Nøgne Ø, CB, Madonas Alus, Lielvardes, Frederikstad, Karjala, Lahden Erikois, Maltti, Lacplesis and other partner brands. Further, the company provides ready-to-drink products, cocktails, and ciders under the Original Long Drink, Grevens, Shaker, Tempt Cider, GiG Drinks, Mokai, Nohrlund, Happy Joe, Hartwall Seltzer, Hartwall Cocktails, Hansa Hard Seltzer, Urban Cocktails, Royale Cocktail Co., Lielvardes Sidrs, Vilkmerges Sidras, Strongbow, and other partner brands. Additionally, it offers juice under the Cido, Adelhardt, Looza, Pagoi, and Ranja brands; enhanced beverages under the Faxe Kondi Pro, Hartwall Sport, Cido Hydrate+, Sourcy Vitamin water, and Gatorda; and tea and coffee under partner brands. The company was formerly known as Bryggerigruppen A/S and changed its name to Royal Unibrew A/S in 2005. Royal Unibrew A/S was founded in 1901 and is headquartered in Faxe, Denmark.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Royal Unibrew A/S reported revenue of 15.7B DKK in FY2025 versus 8.7B DKK in FY2021, a compound +15.8%/yr. Reported net income was 1.6B DKK in FY2025, compounding +4.7%/yr from FY2021.
of which total revenue +10.1 % · buybacks/dilution +1.0 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
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Peer Group
Beverages - Brewers · 56 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Beverages - Brewers median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Insider activity: 48/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Beverages - Brewers stocks, each showing price versus our Fair Value estimate (as of Aug 29, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Anheuser-Busch InBev SA ABI | €68.28 | €60.24 | −12% |
| Heineken N.V HEIA | €72.70 | €65.06 | −11% |
| Ambev S.A ABEV | $2.86 | $4.05 | +42% |
| Fomento Económico Mexicano, S.A. FMX | $120.41 | $54.74 | −55% |
| Constellation Brands, Inc STZ | $129.09 | $173.19 | +34% |
| Carlsberg A/S CARLA | kr 1,115 | kr 607.30 | −46% |
| Heineken Holding HEIO | €68.25 | €60.55 | −11% |
| Tsingtao Brewery Company 600600 | ¥51.63 | ¥63.65 | +23% |
| Budweiser Brewing Company 1876 | HK$6.35 | HK$6.05 | −5% |
| China Resources Beer (Holdings) Company 0291 | HK$22.16 | HK$25.38 | +15% |
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