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ITC Valuation Multiples

Discover revenue and EBITDA valuation multiples for ITC and similar public comparables like Scandinavian Tobacco, Ceylon Tobacco Company, and Eastern Company.

ITC Overview

About ITC

ITC Ltd is an Indian conglomerate that predominantly operates in the consumer goods space, particularly cigarettes. The company operates in four main business segments: Fast Moving Consumer Goods; Hotels; Paperboards, Paper, and Packaging; and Agri-Business. Roughly three-quarters of 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

India
Employees

24.6K+

Website

itcportal.com

Sectors

Tobacco

Financials

LTM Revenue $8.2B

LTM EBITDA $2.9B

EV

$58.7B

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ITC Financials

ITC has a last 12-month revenue (LTM) of $8.2B and a last 12-month EBITDA of $2.9B.

In the most recent fiscal year, ITC achieved revenue of $8.7B and an EBITDA of $3.4B.

ITC expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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ITC P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $8.2B XXX $8.7B XXX XXX XXX
Gross Profit $4.5B XXX $5.0B XXX XXX XXX
Gross Margin 55% XXX 57% XXX XXX XXX
EBITDA $2.9B XXX $3.4B XXX XXX XXX
EBITDA Margin 36% XXX 39% XXX XXX XXX
EBIT $2.8B XXX $2.8B XXX XXX XXX
EBIT Margin 34% XXX 33% XXX XXX XXX
Net Profit $2.3B XXX $4.1B XXX XXX XXX
Net Margin 29% XXX 47% XXX XXX XXX
Net Debt XXX XXX n/a XXX XXX XXX

Financial data powered by Morningstar, Inc.

ITC Stock Performance

As of May 30, 2025, ITC's stock price is INR 418 (or $5).

ITC has current market cap of INR 5.23T (or $61.3B), and EV of INR 5.01T (or $58.7B).

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ITC Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$58.7B $61.3B XXX XXX XXX XXX $0.19

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ITC Valuation Multiples

As of May 30, 2025, ITC has market cap of $61.3B and EV of $58.7B.

ITC's trades at 6.8x EV/Revenue multiple, and 17.3x EV/EBITDA.

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 26.1x.

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ITC Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $61.3B XXX $61.3B XXX XXX XXX
EV (current) $58.7B XXX $58.7B XXX XXX XXX
EV/Revenue 7.1x XXX 6.8x XXX XXX XXX
EV/EBITDA 20.1x XXX 17.3x XXX XXX XXX
EV/EBIT 21.3x XXX 20.6x XXX XXX XXX
EV/Gross Profit 13.1x XXX n/a XXX XXX XXX
P/E 26.1x XXX 16.8x XXX XXX XXX
EV/FCF 26.6x XXX 33.6x XXX XXX XXX

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

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ITC Margins & Growth Rates

ITC's last 12 month revenue growth is 10%

ITC's revenue per employee in the last FY averaged $0.4M, while opex per employee averaged $0.1M for the same period.

ITC's rule of 40 is 50% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

ITC's rule of X is 61% (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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ITC Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 10% XXX 5% XXX XXX XXX
EBITDA Margin 36% XXX 39% XXX XXX XXX
EBITDA Growth 10% XXX 0% XXX XXX XXX
Rule of 40 50% XXX 50% XXX XXX XXX
Bessemer Rule of X XXX XXX 61% XXX XXX XXX
Revenue per Employee XXX XXX $0.4M XXX XXX XXX
Opex per Employee XXX XXX $0.1M 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 25% XXX XXX XXX

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ITC Public Comps

See public comps and valuation multiples for Tobacco comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Karelia Tobacco XXX XXX XXX XXX XXX XXX
Godfrey Phillips India XXX XXX XXX XXX XXX XXX
Eastern Company XXX XXX XXX XXX XXX XXX
Ceylon Tobacco Company XXX XXX XXX XXX XXX XXX
Scandinavian Tobacco XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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ITC M&A and Investment Activity

ITC acquired  XXX companies to date.

Last acquisition by ITC was  XXXXXXXX, XXXXX XXXXX XXXXXX . ITC acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by ITC

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About 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 24.6K+ employees.
Is ITC publicy listed? Yes, ITC is a public company listed on NSE.
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? Similar companies to ITC include e.g. Karelia Tobacco, Godfrey Phillips India, Eastern Company, Ceylon Tobacco Company.
What is the current market cap of ITC? ITC's current market cap is $61.3B
What is the current revenue of ITC? ITC's last 12 months revenue is $8.2B.
What is the current revenue growth of ITC? ITC revenue growth (NTM/LTM) is 10%.
What is the current EV/Revenue multiple of ITC? Current revenue multiple of ITC is 7.1x.
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 $2.9B.
What is ITC's EBITDA margin? ITC's last 12 months EBITDA margin is 36%.
What is the current EV/EBITDA multiple of ITC? Current EBITDA multiple of ITC is 20.1x.
What is the current FCF of ITC? ITC's last 12 months FCF is $2.2B.
What is ITC's FCF margin? ITC's last 12 months FCF margin is 27%.
What is the current EV/FCF multiple of ITC? Current FCF multiple of ITC is 26.6x.

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