Company	Price	Valuation					Profitability					Cash & leverage					Quality				Rating
		P/E	P/B	P/S	EV / EBITDA	DCF upside	Gross margin	Operating margin	Net margin	ROE	ROIC	FCF yield	Debt / equity	Net debt / EBITDA	Interest coverage	Current ratio	Dividend yield	Piotroski (0-9)	Altman Z	Rating score (1-5)
CARL-B.COthis companyCarlsberg A/S	DKK 1,017.50	18.54×	3.97×	1.24×	10.42×	63.4%	42.3%	13.4%	6.7%	21.4%	8.0%	6.8%	2.54×	3.71×	4.52×	0.6×	3.2%	5	1.47	3	B+
ABI.BRAnheuser-Busch InBev SA/NV	€75.52	18.01×	1.47×	2.16×	9.02×	-9.2%	55.9%	26.4%	11.5%	7.8%	6.3%	9.1%	0.84×	2.92×	3.9×	0.72×	3.7%	7	1.68	2	C
HARB-B.COHarboes Bryggeri A/S	DKK 120.20	17.47×	0.6×	0.27×	6.81×	20.7%	20.3%	2.5%	1.6%	3.4%	2.6%	-13.9%	0.44×	2.87×	4.04×	1.39×	1.8%	4	2.42	3	B+
HEIA.ASHeineken N.V.	€83.38	20.57×	2.16×	1.35×	8.78×	26.5%	35.8%	11.8%	6.6%	10.5%	5.5%	6.7%	1.14×	2.53×	5.29×	0.93×	3.3%	7	1.96	3	B
RBREW.CORoyal Unibrew A/S	DKK 449.40	18.2×	4.23×	1.81×	11.75×	192.3%	40.9%	14.0%	9.9%	23.2%	12.7%	5.4%	0.91×	2.06×	8.53×	0.71×	2.6%	7	2.37	4	A-
RI.PAPernod Ricard S.A.	€71.26	13.36×	1.04×	1.71×	9.44×	168.0%	58.4%	25.8%	12.8%	7.8%	5.3%	7.4%	0.82×	3.77×	4.89×	2.47×	7.6%	6	1.21	3	B+
Peer median	—	18.01×	1.47×	1.71×	9.02×	26.5%	40.9%	14.0%	9.9%	7.8%	5.5%	6.7%	0.84×	2.87×	4.89×	0.93×	3.3%	7	1.96	3	—