Valuation United Breweries Limited

Equities

Market Closed - Bombay S.E. Other stock markets 03:58:52 15/05/2026 pm IST			5-day change	1st Jan Change
1,368.90 ^INR	-1.45%		-3.67%	-15.57%

12/05	United Breweries favourable tax order reduced demand to 70 million rupees	RE
12/05	Major Indian alcohol market Tamil Nadu shutters 15% of state's retail outlets	RE

Data adjusted to current consolidation scope

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Capitalization ¹	3,28,285	3,93,646	3,76,751	4,58,042	5,29,009	3,67,259	-	-
Change	-	19.91%	-4.29%	21.58%	15.49%	-30.58%	-	-
Enterprise Value (EV) ¹	3,24,738	3,84,647	3,72,954	4,56,146	5,30,780	4,15,202	3,76,685	3,76,827
Change	-	18.45%	-3.04%	22.31%	16.36%	-21.78%	2.56%	0.04%
P/E ratio	290x	108x	124x	112x	120x	98.7x	79.8x	48.6x
PBR	9.16x	10x	9.5x	11x	12.1x	9.02x	7.89x	7.27x
PEG	-	0x	-7.4x	3.2x	15.51x	-15.27x	-7.3x	0.8x
Capitalization / Revenue	7.74x	6.74x	5.02x	5.64x	5.93x	4.41x	3.57x	3.2x
EV / Revenue	7.65x	6.59x	4.97x	5.62x	5.95x	4.49x	3.66x	3.28x
EV / EBITDA	85.2x	55.2x	60.5x	65.5x	63.1x	51.5x	37.9x	27.9x
EV / EBIT	218x	80.2x	91.9x	94.2x	87.3x	77.8x	63.2x	40.2x
EV / FCF	77.4x	53x	-135x	-400x	-2,283x	-541x	77x	86.2x
FCF Yield	1.29%	1.89%	-0.74%	-0.25%	-0.04%	-0.18%	1.3%	1.16%
Dividend per Share ²	0.5	10.5	7.5	10	10	10	10.83	16.18
Rate of return	0.04%	0.71%	0.53%	0.58%	0.5%	0.65%	0.78%	1.16%
EPS ²	4.28	13.82	11.5	15.51	16.71	15.63	17.4	28.59
Distribution rate	11.7%	76%	65.2%	64.5%	59.8%	64%	62.3%	56.6%
Net sales ¹	42,431	58,384	74,999	81,227	89,151	92,399	1,02,958	1,14,757
EBITDA ¹	3,811	6,966	6,162	6,962	8,408	8,055	9,938	13,529
EBIT ¹	1,490	4,794	4,056	4,843	6,078	5,335	5,961	9,364
Net income ¹	1,132	3,655	3,040	4,100	4,417	4,132	4,485	7,517
Net Debt ¹	-3,547	-8,999	-3,797	-1,896	1,771	7,450	9,426	9,569
Reference price ²	1,241.60	1,488.80	1,424.90	1,732.35	2,000.75	1,389.00	1,389.00	1,389.00
Nbr of stocks (in thousands)	2,64,405	2,64,405	2,64,405	2,64,405	2,64,405	2,64,405	-	-
Announcement Date	27/04/21	26/04/22	04/05/23	07/05/24	07/05/25	05/05/26	-	-

¹INR in Million²INR

Estimates

Add to a list 0 selected To use this feature you must be a member Log in Sign up	P/E (Y)	EV / Sales (Y)	EV / EBITDA (Y)	Dividend Yield (Y)	Capi.($)
UNITED BREWERIES LIMITED	71.13x	3.86x	39.43x	1%	384.11Cr
ANHEUSER-BUSCH INBEV SA/NV	17.68x	3.37x	9.35x	1.77%	16TCr
AMBEV S.A.	15.65x	2.47x	7.35x	5.95%	4.93TCr
HEINEKEN N.V.	13.9x	1.7x	7.52x	3.12%	4.11TCr
CONSTELLATION BRANDS, INC.	12.13x	3.81x	10.1x	3%	2.42TCr
CARLSBERG A/S	13.68x	1.85x	8.65x	3.76%	1.8TCr
ASAHI GROUP HOLDINGS, LTD.	14.76x	1.21x	8.82x	3.32%	1.41TCr
BUDWEISER BREWING COMPANY APAC LIMITED	21.12x	1.79x	6.67x	5.57%	1.33TCr
Average	22.51x	2.51x	12.24x	3.44%	4.03TCr
Weighted average by Cap.	16.90x	2.82x	9.05x	3%