Company Valuation: AllianceBernstein Holding L.P.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 4,823 3,451 3,469 4,207 3,501 3,471 - -
Change - -28.45% 0.53% 21.28% -16.78% -0.87% - -
Enterprise Value (EV) 1,943 1,768 2,748 3,583 3,016 3,471 3,471 3,471
Change - -8.99% 55.38% 30.4% -15.84% 15.09% 0% 0%
P/E 12.6x 12.8x 13.3x 10x 13x 11.2x 10.5x 11.7x
PBR - - - - - - - -
PEG - -0.4x -1x 0.2x -0.7x 1x 1.62x -1.1x
Capitalization / Revenue 1.09x 0.85x 1.03x 1.19x 0.99x 0.93x 0.86x 0.8x
EV / Revenue 0x 0x 0x 0x 0x 0.93x 0.86x 0.8x
EV / EBITDA 0x 0x 0x 0x 0x 2.89x 2.68x 3.41x
EV / EBIT 0x 0x 0x 0x 0x 2.7x 2.46x 2.48x
EV / FCF 0x 0x 0x 0x 0x 2.69x 2.44x 1.74x
FCF Yield 25.6% 30.7% 24.2% 30.5% 28.4% 37.2% 40.9% 57.4%
Dividend per Share 2 3.9 2.95 2.69 3.26 3.38 3.525 3.901 4.205
Rate of return 7.99% 8.58% 8.67% 8.79% 8.78% 9.49% 10.5% 11.3%
EPS 2 3.88 2.69 2.34 3.71 2.97 3.315 3.53 3.17
Distribution rate 101% 110% 115% 87.9% 114% 106% 111% 133%
Net sales 1 4,442 4,054 3,372 3,528 3,525 3,731 4,026 4,325
EBITDA 1 1,259 1,014 1,043 1,231 1,275 1,200 1,293 1,019
EBIT 1 1,214 947.2 951.2 1,140 1,188 1,284 1,409 1,400
Net income 1 385.9 274.2 264.2 423.4 299.8 302.4 313.5 253
Net Debt -2,880 -1,682 -721.2 -624.1 -485.6 - - -
Reference price 2 48.84 34.37 31.03 37.09 38.48 37.16 37.16 37.16
Nbr of stocks (in thousands) 98,754 100,401 111,797 113,435 90,993 93,404 - -
Announcement Date 11/02/22 08/02/23 06/02/24 06/02/25 05/02/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
11.21x - - 9.49% 3.47B
20.75x7.26x14.03x4.17% 96.69B
26.53x10.86x16.32x0.81% 87.04B
20.45x - - 4.45% 27.47B
11.98x4.68x9.19x5.37% 20.33B
17.26x1.81x6.84x3.93% 17.41B
14.27x4.37x11.86x3.13% 16.09B
12.05x9.26x - 10.22% 13.48B
37.16x20.61x29.64x2.15% 12.41B
Average 19.07x 8.41x 14.65x 4.86% 32.71B
Weighted average by Cap. 21.45x 8.44x 14.57x 3.47%

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

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