Carlsberg A/S (CARL-B) — Cash Flow-to-Debt Ratio
Carlsberg A/S (CARL-B) has a Cash Flow-to-Debt Ratio of 0.06x as of December 2025, meaning its operating cash flow of Dkr7.41 Billion could theoretically repay 0% of its total liabilities (Dkr123.28 Billion) in one year. See cash generation quality of Carlsberg A/S to measure how efficiently the company converts operating cash flow to free cash.
CF-to-Debt Ratio
Operating Cash Flow
Total Liabilities
Data as of
Carlsberg A/S Cash Flow-to-Debt Ratio (2002–2025)
Historical debt coverage capacity for Carlsberg A/S across 24 annual periods. Also explore net asset momentum of Carlsberg A/S to track the company's year-over-year net asset growth rate.
Annual Cash Flow-to-Debt Ratio for Carlsberg A/S (2002–2025)
Year-by-year debt coverage analysis for Carlsberg A/S. For market capitalisation and broader financial context, see Carlsberg A/S stock valuation.
| Year | CF-to-Debt Ratio | Operating CF (DKK) | Total Liabilities | YoY Change |
|---|---|---|---|---|
| 2025 | 0.11x | Dkr13.04 Billion | Dkr123.28 Billion | ▼ -35.5% |
| 2024 | 0.16x | Dkr13.57 Billion | Dkr82.72 Billion | ▲ +21.7% |
| 2023 | 0.13x | Dkr11.61 Billion | Dkr86.08 Billion | ▼ -16.1% |
| 2022 | 0.16x | Dkr12.95 Billion | Dkr80.62 Billion | ▼ -6.0% |
| 2021 | 0.17x | Dkr13.26 Billion | Dkr77.63 Billion | ▲ +17.9% |
| 2020 | 0.14x | Dkr10.93 Billion | Dkr75.45 Billion | ▼ -8.8% |
| 2019 | 0.16x | Dkr12.24 Billion | Dkr77.08 Billion | ▼ -8.0% |
| 2018 | 0.17x | Dkr12.05 Billion | Dkr69.81 Billion | ▼ -5.6% |
| 2017 | 0.18x | Dkr11.83 Billion | Dkr64.73 Billion | ▲ +43.6% |
| 2016 | 0.13x | Dkr9.33 Billion | Dkr73.26 Billion | ▼ -2.5% |
| 2015 | 0.13x | Dkr10.14 Billion | Dkr77.67 Billion | ▲ +42.8% |
| 2014 | 0.09x | Dkr7.41 Billion | Dkr80.99 Billion | ▼ -19.8% |
| 2013 | 0.11x | Dkr9.08 Billion | Dkr79.64 Billion | ▼ -7.2% |
| 2012 | 0.12x | Dkr9.87 Billion | Dkr80.31 Billion | ▲ +6.1% |
| 2011 | 0.12x | Dkr8.81 Billion | Dkr76.08 Billion | ▼ -21.6% |
| 2010 | 0.15x | Dkr11.02 Billion | Dkr74.60 Billion | ▼ -23.7% |
| 2009 | 0.19x | Dkr13.63 Billion | Dkr70.37 Billion | ▲ +104.7% |
| 2008 | 0.09x | Dkr7.81 Billion | Dkr82.56 Billion | ▼ -19.3% |
| 2007 | 0.12x | Dkr4.84 Billion | Dkr41.28 Billion | ▲ +3.5% |
| 2006 | 0.11x | Dkr4.47 Billion | Dkr39.46 Billion | ▲ +2.6% |
| 2005 | 0.11x | Dkr4.73 Billion | Dkr42.86 Billion | ▲ +17.9% |
| 2004 | 0.09x | Dkr3.81 Billion | Dkr40.62 Billion | ▼ -40.3% |
| 2003 | 0.16x | Dkr4.52 Billion | Dkr28.81 Billion | ▼ -17.4% |
| 2002 | 0.19x | Dkr5.55 Billion | Dkr29.24 Billion | — |