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ITC Valuation Multiples
Discover revenue and EBITDA valuation multiples for ITC and similar public comparables like Imperial Brands, Japan Tobacco, KT&G, Smoore International and more.
ITC Overview
About ITC
ITC Ltd is an Indian conglomerate that predominantly operates in the consumer goods space, particularly cigarettes. The company operates in three main business segments: Fast Moving Consumer Goods; Paperboards, Paper, and Packaging; and Agri-Business. The company's total revenue comes from the Fast Moving Consumer Goods Business, which is dominated by cigarettes but also includes branded packaged foods, personal care products, and other categories. The company generates the vast majority of its revenue in India.
Founded
1910
HQ
Employees
35.7K
Website
Sectors
Financials (LTM)
EV
$39B
ITC Financials
ITC reported last 12-month revenue of $8B and EBITDA of $3B.
In the same LTM period, ITC generated $4B in gross profit, $3B in EBITDA, and $2B in net income.
Revenue (LTM)
ITC P&L
In the most recent fiscal year, ITC reported revenue of $8B and EBITDA of $3B.
ITC expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $8B | XXX | $8B | XXX | XXX | XXX |
| Gross Profit | $4B | XXX | $5B | XXX | XXX | XXX |
| Gross Margin | 53% | XXX | 57% | XXX | XXX | XXX |
| EBITDA | $3B | XXX | $3B | XXX | XXX | XXX |
| EBITDA Margin | 34% | XXX | 39% | XXX | XXX | XXX |
| EBIT Margin | 33% | XXX | 34% | XXX | XXX | XXX |
| Net Profit | $2B | XXX | $4B | XXX | XXX | XXX |
| Net Margin | 28% | XXX | 47% | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
ITC Stock Performance
ITC has current market cap of $42B, and enterprise value of $39B.
Market Cap Evolution
ITC's stock price is $3.31.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $39B | $42B | 0.5% | XXX | XXX | XXX | $0.30 |
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Start Free TrialITC Valuation Multiples
ITC trades at 5.0x EV/Revenue multiple, and 14.5x EV/EBITDA.
EV / Revenue (LTM)
ITC Financial Valuation Multiples
As of April 19, 2026, ITC has market cap of $42B and EV of $39B.
Equity research analysts estimate ITC's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
ITC has a P/E ratio of 18.9x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $42B | XXX | $42B | XXX | XXX | XXX |
| EV (current) | $39B | XXX | $39B | XXX | XXX | XXX |
| EV/Revenue | 5.0x | XXX | 4.9x | XXX | XXX | XXX |
| EV/EBITDA | 14.5x | XXX | 12.6x | XXX | XXX | XXX |
| EV/EBIT | 15.2x | XXX | 14.5x | XXX | XXX | XXX |
| EV/Gross Profit | 9.4x | XXX | 8.6x | XXX | XXX | XXX |
| P/E | 18.9x | XXX | 11.1x | XXX | XXX | XXX |
| EV/FCF | 19.2x | XXX | 18.6x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified ITC Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
ITC Margins & Growth Rates
ITC's revenue in the last 12 month grew by 3%.
ITC's revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $0.1M for the same period.
ITC's rule of 40 is 34% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
ITC's rule of X is 37% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
ITC Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 3% | XXX | (2%) | XXX | XXX | XXX |
| EBITDA Margin | 34% | XXX | 39% | XXX | XXX | XXX |
| EBITDA Growth | (2%) | XXX | (13%) | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 34% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 37% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.2M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.1M | XXX | XXX | XXX |
| S&M Expenses to Revenue | 6% | XXX | 5% | XXX | XXX | XXX |
| G&A Expenses to Revenue | — | XXX | 1% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 24% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
ITC Public Comps
See public comps and valuation multiples for other Tobacco comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| ITC | XXX | XXX | XXX | XXX | XXX | XXX |
| Imperial Brands | XXX | XXX | XXX | XXX | XXX | XXX |
| Japan Tobacco | XXX | XXX | XXX | XXX | XXX | XXX |
| KT&G | XXX | XXX | XXX | XXX | XXX | XXX |
| Smoore International | XXX | XXX | XXX | XXX | XXX | XXX |
| Godfrey Phillips India | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
ITC M&A Activity
ITC acquired XXX companies to date.
Last acquisition by ITC was on XXXXXXXX, XXXXX. ITC acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by ITC
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialITC Investment Activity
ITC invested in XXX companies to date.
ITC made its latest investment on XXXXXXXX, XXXXX. ITC invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by ITC
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout ITC
| When was ITC founded? | ITC was founded in 1910. |
| Where is ITC headquartered? | ITC is headquartered in India. |
| How many employees does ITC have? | As of today, ITC has over 35K employees. |
| Is ITC publicly listed? | Yes, ITC is a public company listed on National Stock Exchange of India. |
| What is the stock symbol of ITC? | ITC trades under ITC ticker. |
| When did ITC go public? | ITC went public in 1995. |
| Who are competitors of ITC? | ITC main competitors are Imperial Brands, Japan Tobacco, KT&G, Smoore International. |
| What is the current market cap of ITC? | ITC's current market cap is $42B. |
| What is the current revenue of ITC? | ITC's last 12 months revenue is $8B. |
| What is the current revenue growth of ITC? | ITC revenue growth (NTM/LTM) is 3%. |
| What is the current EV/Revenue multiple of ITC? | Current revenue multiple of ITC is 5.0x. |
| Is ITC profitable? | Yes, ITC is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of ITC? | ITC's last 12 months EBITDA is $3B. |
| What is ITC's EBITDA margin? | ITC's last 12 months EBITDA margin is 34%. |
| What is the current EV/EBITDA multiple of ITC? | Current EBITDA multiple of ITC is 14.5x. |
| What is the current FCF of ITC? | ITC's last 12 months FCF is $2B. |
| What is ITC's FCF margin? | ITC's last 12 months FCF margin is 26%. |
| What is the current EV/FCF multiple of ITC? | Current FCF multiple of ITC is 19.2x. |
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