Company Valuation: LVMH

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 3,66,252 3,40,700 3,66,368 3,17,588 3,19,356 1,95,711 - -
Change - -6.98% 7.53% -13.31% 0.56% -38.72% - -
Enterprise Value (EV) 1 3,75,859 3,68,547 3,97,039 3,48,731 3,46,923 2,17,263 2,13,626 2,09,887
Change - -1.95% 7.73% -12.17% -0.52% -37.37% -1.67% -1.75%
P/E 30.4x 24.3x 24.2x 25.3x 29.5x 17.8x 16x 14.5x
PBR 7.77x 6.19x 6.01x 4.7x 4.76x 2.75x 2.54x 2.36x
PEG - 1.4x 2.95x -1.5x -2.3x 8.87x 1.4x 1.4x
Capitalization / Revenue 5.7x 4.3x 4.25x 3.75x 3.95x 2.42x 2.31x 2.2x
EV / Revenue 5.85x 4.65x 4.61x 4.12x 4.29x 2.69x 2.53x 2.35x
EV / EBITDA 16.4x 13.5x 13.2x 12.7x 13.5x 8.9x 8.2x 7.56x
EV / EBIT 21.9x 17.5x 17.4x 17.8x 19.5x 12.4x 11.3x 10.4x
EV / FCF 27.8x 36.4x 49x 33.3x 30.6x 19.1x 16.9x 15.9x
FCF Yield 3.6% 2.74% 2.04% 3% 3.27% 5.22% 5.91% 6.28%
Dividend per Share 2 7 12 13 13 13 13.08 14 14.89
Rate of return 0.96% 1.76% 1.77% 2.05% 2.02% 3.29% 3.52% 3.75%
EPS 2 23.89 28.03 30.33 25.12 21.85 22.29 24.79 27.41
Distribution rate 29.3% 42.8% 42.9% 51.8% 59.5% 58.7% 56.5% 54.3%
Net sales 1 64,215 79,184 86,153 84,683 80,807 80,735 84,566 89,143
EBITDA 1 22,981 27,281 29,979 27,367 25,756 24,405 26,066 27,776
EBIT 1 17,151 21,055 22,802 19,571 17,755 17,558 18,822 20,184
Net income 1 12,036 14,084 15,174 12,550 10,878 11,194 12,410 13,689
Net Debt 1 9,607 27,847 30,671 31,143 27,567 21,552 17,915 14,176
Reference price 2 727.00 679.90 733.60 635.50 645.00 397.10 397.10 397.10
Nbr of stocks (in thousands) 5,03,785 5,01,103 4,99,410 4,99,744 4,95,126 4,93,099 - -
Announcement Date 27/01/22 26/01/23 25/01/24 28/01/25 27/01/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
17.8x2.69x8.9x3.29% 22TCr
18.25x2.41x12.19x1.14% 2.01TCr
18.77x3.58x8.84x3.11% 1.37TCr
10.62x0.92x4.71x-.--% 1.13TCr
16.95x1.98x7.81x2.2% 854.66Cr
12.72x1.3x8.51x3.04% 755.46Cr
9.35x1.22x5.33x8.39% 595.53Cr
Average 14.92x 2.02x 8.04x 3.03% 4.15TCr
Weighted average by Cap. 17.26x 2.56x 8.84x 3.07%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield