Asahi Group - Public Comps and Valuation Multiples

Asahi Group Overview

About Asahi Group

Asahi is the largest brewer in Japan with a nearly 40% market share, led by its Asahi Super Dry beer brand. It also operates a wide range of alcoholic and soft beverage products as well as packaged foods, mainly in Japan. Overseas markets accounted for over half of the company’s revenue and close to 60% of operating profit, with Australia and Europe being two major markets. It acquired SABMiller’s brands including Peroni and Pilsner Urquell in Western and Central Europe in 2016 and 2017 from Anheuser-Busch InBev. In Australia, Asahi holds market leaderships across beer and soft drinks segments, through its acquisitions of Schweppes Australia in 2009 and Carlton & United Breweries in 2020.

Founded

1949

HQ

Employees

34.0K+

Website

asahigroup-holdings.com

Sectors

Alcohol

Financials

LTM Revenue $20.1B

LTM EBITDA $2.9B

EV

$27.9B

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Asahi Group Financials

As of August 2025, Asahi Group reported last 12-month revenue of $20.1B and EBITDA of $2.9B.

In the same period, Asahi Group generated $7.7B in LTM gross profit and $1.3B in net income.

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Asahi Group P&L

In the most recent fiscal year, Asahi Group reported revenue of $19.9B and EBITDA of $3.0B.

Asahi Group expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$20.1B	XXX	$19.9B	XXX	XXX	XXX
Gross Profit	$7.7B	XXX	$7.4B	XXX	XXX	XXX
Gross Margin	38%	XXX	37%	XXX	XXX	XXX
EBITDA	$2.9B	XXX	$3.0B	XXX	XXX	XXX
EBITDA Margin	15%	XXX	15%	XXX	XXX	XXX
EBIT	$1.9B	XXX	$1.8B	XXX	XXX	XXX
EBIT Margin	9%	XXX	9%	XXX	XXX	XXX
Net Profit	$1.3B	XXX	$1.3B	XXX	XXX	XXX
Net Margin	6%	XXX	7%	XXX	XXX	XXX
Net Debt	XXX	XXX	$8.1B	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Asahi Group including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $20.1B. EBITDA for the last twelve months was $2.9B. In the most recent fiscal year, Asahi Group achieved $19.9B in revenue and $3.0B in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$20.1B	Analyst estimates available to subscribers	$19.9B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$7.7B	Analyst estimates available to subscribers	$7.4B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	38.4% gross margin	Analyst estimates available to subscribers	37.3% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$2.9B	Analyst estimates available to subscribers	$3.0B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	14.6% EBITDA margin	Analyst estimates available to subscribers	15.2% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$1.9B	Analyst estimates available to subscribers	$1.8B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	9.4% EBIT margin	Analyst estimates available to subscribers	9.2% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$1.3B	Analyst estimates available to subscribers	$1.3B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	6.3% net profit margin	Analyst estimates available to subscribers	6.5% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	$8.1B	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Asahi Group

This financial data table provides comprehensive performance metrics for Asahi Group, a company based in Japan. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Asahi Group generated $20.1B in revenue over the last twelve months.
The company achieved $2.9B in EBITDA over the last twelve months.
Gross profit for the last twelve months was $7.7B.
Net income over the last twelve months reached $1.3B.

Fiscal Year Performance

In the most recent fiscal year, Asahi Group reported $19.9B in total revenue.
Fiscal year EBITDA was $3.0B.
The company maintained a gross profit margin of 37.3% in the most recent fiscal year.
EBITDA margin for the fiscal year was 15.2%.
Net profit margin reached 6.5% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Asahi Group. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Asahi Group Stock Performance

Asahi Group has current market cap of JPY 2.73T (or $18.5B), and EV of JPY 4.11T (or $27.9B).

Market Cap Evolution

Asahi Group Stock Data

As of September 15, 2025, Asahi Group's stock price is JPY 1819 (or $12).

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$27.9B	$18.5B	XXX	XXX	XXX	XXX	$0.85

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Asahi Group Valuation Multiples

Asahi Group's trades at 1.4x EV/Revenue multiple, and 9.2x EV/EBITDA.

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Asahi Group Financial Valuation Multiples

As of September 15, 2025, Asahi Group has market cap of $18.5B and EV of $27.9B.

Equity research analysts estimate Asahi Group's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Asahi Group has a P/E ratio of 14.6x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$18.5B	XXX	$18.5B	XXX	XXX	XXX
EV (current)	$27.9B	XXX	$27.9B	XXX	XXX	XXX
EV/Revenue	1.4x	XXX	1.4x	XXX	XXX	XXX
EV/EBITDA	9.5x	XXX	9.2x	XXX	XXX	XXX
EV/EBIT	14.8x	XXX	15.3x	XXX	XXX	XXX
EV/Gross Profit	3.6x	XXX	n/a	XXX	XXX	XXX
P/E	14.6x	XXX	14.2x	XXX	XXX	XXX
EV/FCF	22.8x	XXX	15.4x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Asahi Group Margins & Growth Rates

Asahi Group's last 12 month revenue growth is 2%

Asahi Group's revenue per employee in the last FY averaged $0.6M, while opex per employee averaged $0.2M for the same period.

Asahi Group's rule of 40 is 17% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Asahi Group's rule of X is 20% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Asahi Group Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	2%	XXX	2%	XXX	XXX	XXX
EBITDA Margin	15%	XXX	15%	XXX	XXX	XXX
EBITDA Growth	6%	XXX	4%	XXX	XXX	XXX
Rule of 40	17%	XXX	17%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	20%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.6M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.2M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	28%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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