Company Valuation: LVMH

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 366,252 340,700 366,368 317,588 319,356 223,522 - -
Change - -6.98% 7.53% -13.31% 0.56% -30.01% - -
Enterprise Value (EV) 1 375,859 368,547 397,039 348,731 346,923 247,298 243,861 240,342
Change - -1.95% 7.73% -12.17% -0.52% -28.72% -1.39% -1.44%
P/E 30.4x 24.3x 24.2x 25.3x 29.5x 20.1x 17.8x 16.1x
PBR 7.77x 6.19x 6.01x 4.7x 4.76x 3.14x 2.89x 2.68x
PEG - 1.4x 2.95x -1.5x -2.3x 6.35x 1.4x 1.5x
Capitalization / Revenue 5.7x 4.3x 4.25x 3.75x 3.95x 2.76x 2.62x 2.47x
EV / Revenue 5.85x 4.65x 4.61x 4.12x 4.29x 3.05x 2.86x 2.66x
EV / EBITDA 16.4x 13.5x 13.2x 12.7x 13.5x 10.1x 9.28x 8.52x
EV / EBIT 21.9x 17.5x 17.4x 17.8x 19.5x 14x 12.7x 11.6x
EV / FCF 27.8x 36.4x 49x 33.3x 30.6x 21.6x 18.6x 17.4x
FCF Yield 3.6% 2.74% 2.04% 3% 3.27% 4.63% 5.37% 5.74%
Dividend per Share 2 7 12 13 13 13 13.09 14.12 15.16
Rate of return 0.96% 1.76% 1.77% 2.05% 2.02% 2.89% 3.11% 3.34%
EPS 2 23.89 28.03 30.33 25.12 21.85 22.54 25.5 28.17
Distribution rate 29.3% 42.8% 42.9% 51.8% 59.5% 58.1% 55.4% 53.8%
Net sales 1 64,215 79,184 86,153 84,683 80,807 80,963 85,270 90,327
EBITDA 1 22,981 27,281 29,979 27,367 25,756 24,437 26,270 28,213
EBIT 1 17,151 21,055 22,802 19,571 17,755 17,646 19,126 20,664
Net income 1 12,036 14,084 15,174 12,550 10,878 11,247 12,648 13,970
Net Debt 1 9,607 27,847 30,671 31,143 27,567 23,776 20,339 16,820
Reference price 2 727.00 679.90 733.60 635.50 645.00 453.30 453.30 453.30
Nbr of stocks (in thousands) 503,785 501,103 499,410 499,744 495,126 493,099 - -
Announcement Date 1/27/22 A 1/26/23 A 1/25/24 A 1/28/25 A 1/27/26 A - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
20.11x3.05x10.12x2.89% 260B
18.76x2.47x12.52x1.11% 20.67B
19.73x3.78x9.32x2.93% 14.88B
10.95x1.06x5.11x-.--% 13.66B
19.15x2.17x8.53x1.95% 9.66B
13.48x1.37x8.94x2.88% 7.99B
10x1.3x5.67x7.81% 6.34B
12.38x0.84x8.03x2.7% 5.28B
Average 15.57x 2.01x 8.53x 2.78% 42.26B
Weighted average by Cap. 19.15x 2.84x 9.84x 2.73%

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