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United Spirits Valuation Multiples

Discover revenue and EBITDA valuation multiples for United Spirits and similar public comparables like Endeavour Group, Treasury Wine Estates, and Domain Costa Lazaridi.

United Spirits Overview

About United Spirits

United Spirits Ltd manufactures and sells spirits, beer, wine, and other alcoholic beverages. The company is engaged in the business of manufacture, purchase, and sale of beverage alcohol and other allied spirits, including through tie-up manufacturing units and strategic franchising of some of its brands. Its brand portfolio consists of McDowell's No.1, Royal Challenge, Black Dog, Signature, Antiquity, Director's Special Black, McDowell's Rum, McDowell's Brandy, Bagpiper, Old Tavern, and Haywards among others. Geographically, the firm generates a majority of its revenue from India.


Founded

1999

HQ

India
Employees

2.6K+

Website

diageoindia.com

Sectors

Alcohol

Financials

LTM Revenue $1.4B

LTM EBITDA $259M

EV

$11.0B

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United Spirits Financials

United Spirits has a last 12-month revenue (LTM) of $1.4B and a last 12-month EBITDA of $259M.

In the most recent fiscal year, United Spirits achieved revenue of $1.4B and an EBITDA of $293M.

United Spirits expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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United Spirits P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $1.4B XXX $1.4B XXX XXX XXX
Gross Profit $671M XXX $663M XXX XXX XXX
Gross Margin 47% XXX 47% XXX XXX XXX
EBITDA $259M XXX $293M XXX XXX XXX
EBITDA Margin 18% XXX 21% XXX XXX XXX
EBIT $231M XXX $229M XXX XXX XXX
EBIT Margin 16% XXX 16% XXX XXX XXX
Net Profit $189M XXX $185M XXX XXX XXX
Net Margin 13% XXX 13% XXX XXX XXX
Net Debt XXX XXX n/a XXX XXX XXX

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United Spirits Stock Performance

As of July 15, 2025, United Spirits's stock price is INR 1363 (or $16).

United Spirits has current market cap of INR 968B (or $11.3B), and EV of INR 941B (or $11.0B).

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United Spirits Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$11.0B $11.3B XXX XXX XXX XXX $0.26

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United Spirits Valuation Multiples

As of July 15, 2025, United Spirits has market cap of $11.3B and EV of $11.0B.

United Spirits's trades at 7.9x EV/Revenue multiple, and 38.7x EV/EBITDA.

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

United Spirits has a P/E ratio of 59.9x.

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United Spirits Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $11.3B XXX $11.3B XXX XXX XXX
EV (current) $11.0B XXX $11.0B XXX XXX XXX
EV/Revenue 7.7x XXX 7.9x XXX XXX XXX
EV/EBITDA 42.6x XXX 38.7x XXX XXX XXX
EV/EBIT 47.6x XXX 49.5x XXX XXX XXX
EV/Gross Profit 16.4x XXX n/a XXX XXX XXX
P/E 59.9x XXX 62.9x XXX XXX XXX
EV/FCF 69.1x XXX 59.1x XXX XXX XXX

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United Spirits Margins & Growth Rates

United Spirits's last 12 month revenue growth is 9%

United Spirits's revenue per employee in the last FY averaged $0.5M, while opex per employee averaged $0.2M for the same period.

United Spirits's rule of 40 is 30% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

United Spirits's rule of X is 41% (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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United Spirits Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 9% XXX 9% XXX XXX XXX
EBITDA Margin 18% XXX 20% XXX XXX XXX
EBITDA Growth 13% XXX 5% XXX XXX XXX
Rule of 40 30% XXX 30% XXX XXX XXX
Bessemer Rule of X XXX XXX 41% XXX XXX XXX
Revenue per Employee XXX XXX $0.5M XXX XXX XXX
Opex per Employee XXX XXX $0.2M XXX XXX XXX
S&M Expenses to Revenue XXX XXX 9% 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 31% XXX XXX XXX

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United Spirits Public Comps

See public comps and valuation multiples for Alcohol comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Heineken XXX XXX XXX XXX XXX XXX
Endeavour Group XXX XXX XXX XXX XXX XXX
Treasury Wine Estates XXX XXX XXX XXX XXX XXX
Domain Costa Lazaridi XXX XXX XXX XXX XXX XXX
United Breweries XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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United Spirits M&A and Investment Activity

United Spirits acquired  XXX companies to date.

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

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Latest Acquisitions by United Spirits

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 United Spirits

When was United Spirits founded? United Spirits was founded in 1999.
Where is United Spirits headquartered? United Spirits is headquartered in India.
How many employees does United Spirits have? As of today, United Spirits has 2.6K+ employees.
Who is the CEO of United Spirits? United Spirits's CEO is Ms. Hina Nagarajan.
Is United Spirits publicy listed? Yes, United Spirits is a public company listed on BOM.
What is the stock symbol of United Spirits? United Spirits trades under 532432 ticker.
When did United Spirits go public? United Spirits went public in 2001.
Who are competitors of United Spirits? Similar companies to United Spirits include e.g. Heineken, Endeavour Group, Treasury Wine Estates, Domain Costa Lazaridi.
What is the current market cap of United Spirits? United Spirits's current market cap is $11.3B
What is the current revenue of United Spirits? United Spirits's last 12 months revenue is $1.4B.
What is the current revenue growth of United Spirits? United Spirits revenue growth (NTM/LTM) is 9%.
What is the current EV/Revenue multiple of United Spirits? Current revenue multiple of United Spirits is 7.7x.
Is United Spirits profitable? Yes, United Spirits is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of United Spirits? United Spirits's last 12 months EBITDA is $259M.
What is United Spirits's EBITDA margin? United Spirits's last 12 months EBITDA margin is 18%.
What is the current EV/EBITDA multiple of United Spirits? Current EBITDA multiple of United Spirits is 42.6x.
What is the current FCF of United Spirits? United Spirits's last 12 months FCF is $159M.
What is United Spirits's FCF margin? United Spirits's last 12 months FCF margin is 11%.
What is the current EV/FCF multiple of United Spirits? Current FCF multiple of United Spirits is 69.1x.

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