Carlsberg A/S Capital Reinvestment Ratio
Carlsberg A/S capital reinvestment ratio. Carlsberg A/S (CARL-B) has a Capital Reinvestment Ratio of 0.39x as of December 2025, meaning it reinvests 0% of its operating cash flow (Dkr7.41 Billion) in capital expenditures (Dkr2.88 Billion). See CARL-B free cash flow to operating cash ratio to measure how efficiently the company converts operating cash flow to free cash.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
Capital Reinvestment Ratio of Carlsberg A/S (2002–2025)
Capital reinvestment ratio of Carlsberg A/S from 2002 to 2025. This chart tracks Carlsberg A/S's Capital Reinvestment Ratio across 24 annual periods. See Carlsberg A/S financial flexibility index to measure the company's free cash flow as a share of total liabilities.
Carlsberg A/S Capital Reinvestment Ratio by Year (2002–2025)
Carlsberg A/S capital reinvestment ratio by year from 2002 to 2025. For the full cash flow conversion analysis, see CARL-B cash flow conversion.
| Year | Reinvestment Ratio | Operating CF (DKK) | Capital Expenditures | YoY Change |
|---|---|---|---|---|
| 2025 | 0.43x | Dkr13.04 Billion | Dkr5.59 Billion | ▲ +15.7% |
| 2024 | 0.37x | Dkr13.57 Billion | Dkr5.03 Billion | ▲ +1.4% |
| 2023 | 0.37x | Dkr11.61 Billion | Dkr4.24 Billion | ▲ +17.8% |
| 2022 | 0.31x | Dkr12.95 Billion | Dkr4.02 Billion | ▼ -2.5% |
| 2021 | 0.32x | Dkr13.26 Billion | Dkr4.22 Billion | ▼ -20.9% |
| 2020 | 0.40x | Dkr10.93 Billion | Dkr4.40 Billion | ▲ +7.2% |
| 2019 | 0.38x | Dkr12.24 Billion | Dkr4.59 Billion | ▲ +12.2% |
| 2018 | 0.33x | Dkr12.05 Billion | Dkr4.03 Billion | ▼ -2.4% |
| 2017 | 0.34x | Dkr11.83 Billion | Dkr4.05 Billion | ▼ -16.8% |
| 2016 | 0.41x | Dkr9.33 Billion | Dkr3.84 Billion | ▲ +0.6% |
| 2015 | 0.41x | Dkr10.14 Billion | Dkr4.15 Billion | ▼ -48.7% |
| 2014 | 0.80x | Dkr7.41 Billion | Dkr5.91 Billion | ▲ +24.8% |
| 2013 | 0.64x | Dkr9.08 Billion | Dkr5.81 Billion | ▲ +24.4% |
| 2012 | 0.51x | Dkr9.87 Billion | Dkr5.07 Billion | ▲ +3.8% |
| 2011 | 0.50x | Dkr8.81 Billion | Dkr4.37 Billion | ▲ +61.6% |
| 2010 | 0.31x | Dkr11.02 Billion | Dkr3.38 Billion | ▲ +32.4% |
| 2009 | 0.23x | Dkr13.63 Billion | Dkr3.15 Billion | ▼ -71.8% |
| 2008 | 0.82x | Dkr7.81 Billion | Dkr6.41 Billion | ▼ -29.1% |
| 2007 | 1.16x | Dkr4.84 Billion | Dkr5.60 Billion | ▲ +45.3% |
| 2006 | 0.80x | Dkr4.47 Billion | Dkr3.56 Billion | ▲ +18.3% |
| 2005 | 0.67x | Dkr4.73 Billion | Dkr3.19 Billion | ▲ +1168.0% |
| 2004 | 0.05x | Dkr3.81 Billion | Dkr202.00 Million | ▼ -80.3% |
| 2003 | 0.27x | Dkr4.52 Billion | Dkr1.22 Billion | ▼ -50.0% |
| 2002 | 0.54x | Dkr5.55 Billion | Dkr2.99 Billion | — |