Company Valuation: Mitchells & Butlers plc

Data adjusted to current consolidation scope
Fiscal Period: September 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 1,575 831.4 1,274 1,795 1,478 1,754 - -
Change - -47.22% 53.2% 40.92% -17.65% 18.65% - -
Enterprise Value (EV) 1 3,386 2,510 2,907 3,231 2,755 2,916 2,781 2,604
Change - -25.86% 15.79% 11.15% -14.73% 5.82% -4.63% -6.33%
P/E ratio -23x 63.5x -307x 12.2x 8.44x 9.3x 8.67x 8.08x
PBR 0.75x 0.39x 0.6x 0.7x 0.53x 0.59x 0.55x 0.51x
PEG - -1x 2x -0x 0.4x 1.2x 1.2x 1.1x
Capitalization / Revenue 1.48x 0.38x 0.51x 0.69x 0.55x 0.62x 0.6x 0.59x
EV / Revenue 3.18x 1.14x 1.16x 1.24x 1.02x 1.04x 0.96x 0.88x
EV / EBITDA 20.2x 6.73x 8.1x 7.31x 5.93x 6.24x 5.76x 5.19x
EV / EBIT 117x 10.5x 13.2x 10.4x 8.35x 8.78x 8.06x 7.29x
EV / FCF -847x 20.7x 31.9x 13.9x 14.7x 24.4x 21.2x 17.1x
FCF Yield -0.12% 4.82% 3.13% 7.18% 6.79% 4.1% 4.71% 5.83%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -0.115 0.022 -0.007 0.248 0.295 0.3179 0.3408 0.3659
Distribution rate - - - - - - - -
Net sales 1 1,065 2,208 2,503 2,610 2,711 2,811 2,899 2,974
EBITDA 1 168 373 359 442 465 467.3 482.8 501.5
EBIT 1 29 240 221 312 330 331.9 344.8 357.5
Net income 1 -65 13 -4 149 177 191.3 205.1 220.3
Net Debt 1 1,811 1,679 1,633 1,436 1,277 1,162 1,027 850.6
Reference price 2 2.650 1.398 2.146 3.020 2.490 2.955 2.955 2.955
Nbr of stocks (in thousands) 594,388 594,716 593,537 594,359 593,632 593,498 - -
Announcement Date 25/11/21 07/12/22 30/11/23 27/11/24 28/11/25 - - -
1GBP in Million2GBP
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
9.3x1.04x6.24x-.--% 2.39B
46.71x3.07x20.83x2.66% 107B
20.01x1.08x10.75x2.62% 47.58B
19.71x2x12.2x2.84% 24.35B
22.46x3.65x15.34x0.21% 18.94B
19.41x1.79x9.58x4.74% 12.14B
34.37x1.38x12.54x0.75% 9.78B
22.45x4.6x19.64x4.25% 8.92B
12.76x0.4x6.22x5.02% 8.06B
120.8x5.98x46.38x-.--% 7.37B
Average 32.80x 2.50x 15.97x 2.31% 24.64B
Weighted average by Cap. 35.05x 2.53x 16.82x 2.54%

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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