Company Valuation: LVMH

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 366,252 340,700 366,368 317,588 319,356 210,331 - -
Change - -6.98% 7.53% -13.31% 0.56% -34.14% - -
Enterprise Value (EV) 1 375,859 368,547 397,039 348,731 346,923 234,069 230,608 227,074
Change - -1.95% 7.73% -12.17% -0.52% -32.53% -1.48% -1.53%
P/E 30.4x 24.3x 24.2x 25.3x 29.5x 19x 16.8x 15.2x
PBR 7.77x 6.19x 6.01x 4.7x 4.76x 2.96x 2.72x 2.52x
PEG - 1.4x 2.95x -1.5x -2.3x 6.37x 1.3x 1.4x
Capitalization / Revenue 5.7x 4.3x 4.25x 3.75x 3.95x 2.6x 2.47x 2.33x
EV / Revenue 5.85x 4.65x 4.61x 4.12x 4.29x 2.89x 2.71x 2.52x
EV / EBITDA 16.4x 13.5x 13.2x 12.7x 13.5x 9.53x 8.75x 8.06x
EV / EBIT 21.9x 17.5x 17.4x 17.8x 19.5x 13.2x 12.1x 11x
EV / FCF 27.8x 36.4x 49x 33.3x 30.6x 20.4x 17.6x 16.4x
FCF Yield 3.6% 2.74% 2.04% 3% 3.27% 4.91% 5.7% 6.08%
Dividend per Share 2 7 12 13 13 13 13.12 14.11 15.17
Rate of return 0.96% 1.76% 1.77% 2.05% 2.02% 3.08% 3.31% 3.56%
EPS 2 23.89 28.03 30.33 25.12 21.85 22.5 25.42 28.13
Distribution rate 29.3% 42.8% 42.9% 51.8% 59.5% 58.3% 55.5% 53.9%
Net sales 1 64,215 79,184 86,153 84,683 80,807 81,003 85,203 90,206
EBITDA 1 22,981 27,281 29,979 27,367 25,756 24,557 26,354 28,177
EBIT 1 17,151 21,055 22,802 19,571 17,755 17,692 19,134 20,658
Net income 1 12,036 14,084 15,174 12,550 10,878 11,227 12,610 13,952
Net Debt 1 9,607 27,847 30,671 31,143 27,567 23,737 20,276 16,742
Reference price 2 727.00 679.90 733.60 635.50 645.00 426.55 426.55 426.55
Nbr of stocks (in thousands) 503,785 501,103 499,410 499,744 495,126 493,099 - -
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.($)
18.96x2.89x9.53x3.08% 245B
18.78x2.47x12.53x1.11% 20.69B
19.25x3.69x9.18x3.03% 14.54B
10.74x0.93x4.81x-.--% 11.42B
18.95x2.15x8.47x1.97% 9.56B
13.54x1.37x8.97x2.86% 8.02B
10.46x1.37x5.98x7.47% 6.65B
Average 15.81x 2.13x 8.50x 2.79% 45.07B
Weighted average by Cap. 18.34x 2.74x 9.42x 2.89%

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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