Company Valuation: LVMH

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 366,252 340,700 366,368 317,588 319,356 225,913 - -
Change - -6.98% 7.53% -13.31% 0.56% -29.26% - -
Enterprise Value (EV) 1 375,859 368,547 397,039 348,731 346,923 249,689 246,252 242,733
Change - -1.95% 7.73% -12.17% -0.52% -28.03% -1.38% -1.43%
P/E 30.4x 24.3x 24.2x 25.3x 29.5x 20.3x 18x 16.3x
PBR 7.77x 6.19x 6.01x 4.7x 4.76x 3.18x 2.93x 2.71x
PEG - 1.4x 2.95x -1.5x -2.3x 6.42x 1.4x 1.6x
Capitalization / Revenue 5.7x 4.3x 4.25x 3.75x 3.95x 2.79x 2.65x 2.5x
EV / Revenue 5.85x 4.65x 4.61x 4.12x 4.29x 3.08x 2.89x 2.69x
EV / EBITDA 16.4x 13.5x 13.2x 12.7x 13.5x 10.2x 9.37x 8.6x
EV / EBIT 21.9x 17.5x 17.4x 17.8x 19.5x 14.2x 12.9x 11.7x
EV / FCF 27.8x 36.4x 49x 33.3x 30.6x 21.8x 18.8x 17.6x
FCF Yield 3.6% 2.74% 2.04% 3% 3.27% 4.59% 5.32% 5.69%
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% 2.86% 3.08% 3.31%
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 2 727.00 679.90 733.60 635.50 645.00 458.15 458.15 458.15
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.($)
19.85x3.02x10x2.93% 257B
19.04x2.5x12.69x1.1% 20.97B
19.73x3.78x9.31x2.94% 14.92B
10.47x1.01x4.85x-.--% 13.06B
19.56x2.2x8.66x1.91% 9.86B
13.67x1.38x9.05x2.84% 8.1B
10.35x1.35x5.9x7.55% 6.56B
12.56x0.85x8.11x2.66% 5.36B
Average 15.65x 2.01x 8.57x 2.74% 41.98B
Weighted average by Cap. 18.97x 2.81x 9.77x 2.75%

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