Company Valuation: United Breweries Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 328,285 393,646 376,751 458,042 529,009 370,934 - -
Change - 19.91% -4.29% 21.58% 15.49% -29.88% - -
Enterprise Value (EV) 1 324,738 384,647 372,954 456,146 530,780 415,202 380,360 382,679
Change - 18.45% -3.04% 22.31% 16.36% -21.78% 2.53% 0.61%
P/E 290x 108x 124x 112x 120x 98.7x 77.7x 47.3x
PBR 9.16x 10x 9.5x 11x 12.1x 9.02x 7.67x 7.12x
PEG - 0x -7.4x 3.2x 15.51x -15.27x -7.1x 0.7x
Capitalization / Revenue 7.74x 6.74x 5.02x 5.64x 5.93x 4.41x 3.6x 3.23x
EV / Revenue 7.65x 6.59x 4.97x 5.62x 5.95x 4.49x 3.69x 3.34x
EV / EBITDA 85.2x 55.2x 60.5x 65.5x 63.1x 51.5x 38.3x 28.3x
EV / EBIT 218x 80.2x 91.9x 94.2x 87.3x 77.8x 63.8x 40.9x
EV / FCF 77.4x 53x -135x -400x -2,283x -541x 77.7x 87.5x
FCF Yield 1.29% 1.89% -0.74% -0.25% -0.04% -0.18% 1.29% 1.14%
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% 0.8% 1.2%
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 92,399 102,958 114,688
EBITDA 1 3,811 6,966 6,162 6,962 8,408 8,055 9,938 13,544
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 4,801 7,557
Net Debt 1 -3,547 -8,999 -3,797 -1,896 1,771 7,450 9,426 11,745
Reference price 2 1,241.60 1,488.80 1,424.90 1,732.35 2,000.75 1,351.20 1,351.20 1,351.20
Nbr of stocks (in thousands) 264,405 264,405 264,405 264,405 264,405 264,405 - -
Announcement Date 27/04/21 26/04/22 04/05/23 07/05/24 07/05/25 05/05/26 - -
1INR in Million2INR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
69.2x3.76x38.36x1.03% 3.7B
17.29x3.37x9.33x1.77% 158B
16.8x1.89x8.37x2.62% 47.45B
15.22x2.46x7.28x6.05% 48.13B
11.28x3.67x9.84x3.08% 22.94B
15.15x1.98x9.24x3.38% 19.8B
17.23x1.25x8.99x3.16% 14.42B
13.45x1.23x8.59x2.63% 14.3B
Average 21.95x 2.45x 12.50x 2.96% 41.15B
Weighted average by Cap. 16.79x 2.78x 9.20x 2.8%

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

  1. Stock Market
  2. Stocks
  3. UBL Stock
  4. Valuation United Breweries Limited