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 1,614 - -
Change - -47.22% 53.2% 40.92% -17.65% 9.22% - -
Enterprise Value (EV) 1 3,386 2,510 2,907 3,231 2,755 2,776 2,641 2,465
Change - -25.86% 15.79% 11.15% -14.73% 0.77% -4.87% -6.67%
P/E ratio -23x 63.5x -307x 12.2x 8.44x 8.56x 7.98x 7.43x
PBR 0.75x 0.39x 0.6x 0.7x 0.53x 0.54x 0.5x 0.47x
PEG - -1x 2x -0x 0.4x 1.1x 1.11x 1.01x
Capitalization / Revenue 1.48x 0.38x 0.51x 0.69x 0.55x 0.57x 0.56x 0.54x
EV / Revenue 3.18x 1.14x 1.16x 1.24x 1.02x 0.99x 0.91x 0.83x
EV / EBITDA 20.2x 6.73x 8.1x 7.31x 5.93x 5.94x 5.47x 4.92x
EV / EBIT 117x 10.5x 13.2x 10.4x 8.35x 8.36x 7.66x 6.9x
EV / FCF -847x 20.7x 31.9x 13.9x 14.7x 23.2x 20.2x 16.2x
FCF Yield -0.12% 4.82% 3.13% 7.18% 6.79% 4.31% 4.96% 6.16%
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 2,809 2,898 2,974
EBITDA 1 168 373 359 442 465 467.4 482.8 501.5
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 2.720 2.720 2.720
Nbr of stocks (in thousands) 594,388 594,716 593,537 594,359 593,632 593,547 - -
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.($)
8.56x0.99x5.94x-.--% 2.19B
49.56x3.36x22.86x2.55% 113B
20.4x1.11x10.98x2.57% 48.39B
19.17x1.9x11.63x2.97% 23.12B
187.96x7.56x59.56x-.--% 11.33B
30.22x1.25x11.62x0.85% 8.4B
18.37x0.39x7.03x4.33% 7.25B
37.11x2.41x13.88x0.4% 6.8B
36.17x1.66x9.41x0.83% 4.57B
75.6x3.31x16.82x0.31% 3.21B
Average 48.31x 2.39x 16.97x 1.48% 22.8B
Weighted average by Cap. 44.80x 2.68x 19.32x 2.31%

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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