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Multiples Take a Shot Index

Curated by Multiples, this index tracks publicly listed alcohol companies globally.

Explore the Multiples Take a Shot Index

100

public companies
tracked

$1.4T

cumulative
enterprise value

1.6x

median EV/NTM revenue multiple

median NTM/LTM revenue growth

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Index Performance

This chart shows the weighted market cap evolution over time for the Multiples Take a Shot Index constituents, indexed to 0% at the beginning of the period.

-38.7%

Multiples Take a Shot Index

Data as of 01 July 2026. Underlying financial data from FactSet and Morningstar. S&P 500 and NASDAQ data sourced from Yahoo Finance.

Key Index Metrics

This chart shows the median evolution over time of key valuation metrics for the Multiples Take a Shot Index constituents.

Valuation Benchmarks

This chart shows the regression relationship between valuation metrics across companies in the Multiples Take a Shot Index.

x-axis:

y-axis:

Data as of July 1, 2026. Companies with EV multiples above 50x and y-axis values above 250% are considered non-meaningful and excluded from calculation.

Company Rankings

This chart shows company rankings by selected metric within the Multiples Take a Shot Index.

Metric:

Data as of July 1, 2026. Companies with EV multiples above 50x and y-axis values above 300% are considered non-meaningful and excluded from calculation.

Companies Side-by-Side

Compare key metrics between companies in the Multiples Take a Shot Index.

Metric	LVMH	Kweichow Moutai	AB InBev
Market Cap	$277B	$218B	$162B
EV/Revenue (NTM)	3.2x	7.8x	3.4x
EV/Gross Profit (NTM)	4.8x	8.5x	6.0x
EV/EBITDA (NTM)	10.8x	11.5x	9.3x
EV/FCF (NTM)	21.3x	15.9x	16.9x
Revenue Growth	0%	5%	6%
Gross Margin (NTM)	67%	91%	57%
EBITDA Margin (NTM)	30%	67%	36%
FCF Margin (NTM)	15%	49%	20%
Rule of 40	29%	72%	45%
Rule of X	29%	78%	58%

Data as of July 1, 2026.

Cumulative Metrics

This chart shows the cumulative sum of selected metrics across all companies in the Multiples Take a Shot Index, over time.

Index Methodology

Similar to the NASDAQ 100 Index, the Multiples Take a Shot Index employs a modified market capitalization weighting scheme.

The weight process uses company-level weights, which are derived using company market capitalization.

Company weights are evaluated based on two rules:

Rule 1

No company's weight may exceed 24%.

Rule 2

The aggregate weight of the companies whose weights exceed 4.5% may not exceed 48%.

If neither rule is 'violated', then no adjustments are made. Only in cases where either or both of the rules are 'violated', weight adjustments are made according to a two-stage adjustment process.

Rule 1 adjustment

If no company's initial weight exceeds 24% of the Index, initial weights are used as Rule 1 weights without adjustment. Otherwise, initial weights are adjusted such that no company's weight may exceed 20% of the Index.

Rule 2 adjustment

If the aggregate weight of the companies whose Rule 1 weights exceeds 4.5% and does not exceed 48%, Rule 1 weights are used as the final weights. Otherwise, Rule 1 weights are adjusted such that:

The aggregate weight of the companies whose Rule 1 weights exceeded 4.5% is set to 40%.
Companies with Rule 1 weights below 4.5% may also have their weights adjusted to keep the initial rank order of all companies.

If the two-stage rule process results in a 'violation' of the weighting rules as previously detailed, then the process is repeated until the company weights meet the rule system.

Companies Included in the Multiples Take a Shot Index

This index tracks publicly listed companies in the alcohol and spirits industry.


LVMH	11.3%	$562	+3%	$277B	3.2x	0%	67%	30%	15%	29%	$448K
Kweichow Moutai	8.8%	$175	-15%	$218B	7.8x	5%	91%	67%	49%	72%	$729K
AB InBev	6.6%	$84	+43%	$162B	3.4x	6%	57%	36%	20%	45%	$415K
Ambev	3.6%	$3	+43%	$50B	2.6x	4%	56%	34%	21%	38%	$410K
Heineken	3.4%	$84	+6%	$47B	1.8x	4%	56%	23%	10%	30%	$388K
Diageo	3.3%	$21	-16%	$46B	3.5x	-1%	60%	32%	16%	30%	$678K
Wuliangye	3.0%	$11	-38%	$42B	2.9x	20%	80%	42%	36%	76%	$237K
Backus	5.5%	-	-	$34B	-	-	-	-	-	-	-
Constellation Brands	3.9%	$139	-17%	$24B	3.8x	0%	52%	38%	21%	35%	$862K
Heineken Holding	3.4%	$76	+11%	$21B	1.0x	5%	-	-	-	-	$388K
Xinghuacun Fenjiu	3.2%	$16	-38%	$20B	3.1x	2%	74%	42%	25%	40%	$409K
Pernod Ricard	3.0%	$74	-29%	$19B	2.9x	0%	59%	30%	13%	23%	$702K
Carlsberg	3.0%	$141	+8%	$19B	1.9x	2%	46%	22%	9%	25%	$380K
Luzhou Laojiao	2.7%	$11	-36%	$17B	3.6x	0%	86%	58%	42%	51%	$988K
Asahi Group	2.3%	$10	-21%	$14B	1.1x	6%	36%	14%	-2%	21%	$535K
Kirin Holdings	2.3%	$17	+38%	$14B	1.2x	-1%	47%	14%	7%	17%	$438K
Eastroc Beverage	2.1%	$18	-56%	$13B	2.7x	21%	44%	28%	15%	50%	$280K
Brown-Forman	2.0%	$27	-6%	$12B	3.7x	1%	59%	29%	20%	29%	$786K
United Spirits	1.7%	$14	-2%	$10B	6.7x	8%	47%	19%	31%	28%	$562K
Budweiser APAC	1.7%	$1	-26%	$10B	1.3x	3%	52%	27%	14%	30%	$263K
Tsingtao Brewery	1.5%	$7	-20%	$9B	1.2x	3%	43%	22%	13%	24%	$160K
China Resources Beer	1.4%	$3	-19%	$9B	1.3x	4%	44%	26%	18%	29%	$215K
ThaiBev	1.4%	$0	-8%	$8B	1.4x	3%	37%	16%	10%	18%	$177K
Jiangsu Yanghe Distillery	1.4%	$6	-43%	$8B	2.0x	-4%	71%	23%	11%	9%	$131K
Molson Coors Canada	1.2%	$40	-20%	$8B	-	-	-	-	-	-	$688K
Campari Group	1.2%	$6	-11%	$7B	2.7x	1%	60%	25%	11%	25%	$676K
Molson Coors	1.2%	$39	-20%	$7B	1.2x	0%	36%	19%	10%	19%	$688K
Anhui Gujing Distillery	0.9%	$11	-43%	$6B	1.3x	2%	79%	30%	18%	26%	$206K
Radico Khaitan	0.9%	$42	+41%	$6B	7.5x	14%	46%	18%	8%	34%	$428K
Sapporo Holdings	0.8%	$13	+42%	$5B	1.9x	-3%	34%	8%	28%	9%	$322K
Jiangsu King's Luck	0.7%	$3	-39%	$4B	2.2x	3%	74%	37%	27%	37%	$287K
Yanjing Brewery	0.7%	$1	-17%	$4B	1.4x	5%	45%	20%	11%	24%	$113K
Endeavour Group	0.7%	$2	-23%	$4B	0.9x	2%	29%	12%	6%	14%	$277K
Emperador	0.6%	$0	-9%	$4B	-	-	-	-	-	-	$291K
United Breweries	0.6%	$14	-33%	$4B	3.4x	12%	44%	10%	4%	21%	$676K
Anhui Yingjia Distillery	0.6%	$4	-27%	$3B	2.8x	8%	73%	47%	17%	54%	$111K
Royal Unibrew	0.5%	$67	-12%	$3B	1.7x	0%	40%	20%	9%	20%	$586K
ZJLD Group	0.5%	$1	+9%	$3B	4.2x	14%	60%	35%	-	47%	$47K
Becle	0.5%	$1	-36%	$3B	1.5x	-1%	56%	22%	14%	14%	$297K
Chongqing Brewery	0.5%	$6	-24%	$3B	1.2x	2%	51%	25%	18%	26%	$316K
Anadolu Efes	0.4%	$0	+32%	$3B	0.5x	22%	34%	17%	10%	48%	$278K
Treasury Wine Estates	0.4%	$3	-39%	$3B	2.3x	-4%	46%	27%	9%	17%	$778K
Remy Cointreau	0.4%	$49	-19%	$3B	3.0x	2%	67%	22%	4%	22%	$586K
SABECO	0.4%	$2	+2%	$2B	1.6x	2%	36%	21%	16%	27%	$129K
Compañía de Cervecerías Unidas	0.3%	$6	-10%	$2B	0.8x	-1%	-	14%	6%	19%	$357K
Boston Beer	0.3%	$177	-15%	$2B	0.9x	0%	49%	12%	3%	11%	$718K
East African Breweries	0.3%	$2	+28%	$2B	1.6x	7%	-	-	-	-	$599K
Anhui Kouzi Distillery	0.3%	$3	-43%	$2B	2.7x	0%	68%	32%	-	26%	$134K
Nigerian Breweries	0.3%	$0	-6%	$2B	1.1x	18%	36%	19%	-	41%	$476K
International Breweries	0.2%	$0	+288%	$1B	2.0x	19%	-	-	-	-	$304K
Cerveceria San Juan	0.2%	-	-	$1B	-	-	-	-	-	-	-
Tuborg	0.1%	$3	-26%	$908M	-	-	-	-	-	-	$509K
Olvi	0.1%	$37	-5%	$754M	0.8x	7%	27%	16%	7%	29%	$321K
Concha y Toro	0.1%	$1	-19%	$689M	1.1x	0%	-	17%	-	18%	$407K
Oeneo	0.1%	$10	-6%	$659M	2.2x	2%	-	22%	13%	20%	$312K
Hitejinro	0.1%	$9	-32%	$649M	0.7x	-1%	45%	13%	5%	12%	-
Societe des Boissons du Maroc	0.1%	$229	-	$648M	1.7x	6%	-	21%	14%	28%	$339K
Guinness Nigeria	0.1%	$0	+212%	$580M	1.3x	14%	34%	15%	-	36%	$516K
Laurent-Perrier	0.1%	$97	-11%	$569M	2.2x	1%	-	26%	19%	29%	$896K
Malteries Franco-Belges	0.1%	$965	-8%	$479M	-	-	-	-	-	-	$1M
C&C Group	0.1%	$1	-47%	$463M	0.4x	-5%	-	7%	2%	1%	$662K
Marston's	0.1%	$1	+16%	$421M	1.7x	2%	-	23%	8%	24%	$115K
Marie Brizard Wine & Spirits	0.1%	$3	-3%	$377M	1.6x	0%	-	8%	6%	9%	$106K
SNDL	0.1%	$1	-22%	$351M	0.5x	-2%	28%	8%	3%	4%	$267K
Viva Wine Group	0.1%	$4	-9%	$351M	0.7x	6%	20%	9%	5%	26%	$2M
Ottakringer Getraenke	0.0%	$126	-	$303M	-	-	-	-	-	-	$315K
Anora Group	0.0%	$4	+8%	$268M	0.6x	-2%	-	12%	6%	10%	$644K
Andrew Peller	0.0%	$6	+56%	$267M	1.4x	0%	41%	17%	9%	18%	$201K
Zwack Unicum	0.0%	$121	+22%	$242M	-	-	-	-	-	20%	$310K
Kopparberg Bryggeri	0.0%	$12	-4%	$242M	-	-	-	-	-	-	$529K
Delegat Group	0.0%	$2	-5%	$220M	2.1x	4%	44%	34%	14%	38%	-
Lanson-BCC	0.0%	$31	-27%	$204M	-	-	-	-	-	-	$598K
Italian Wine Brands	0.0%	$22	-9%	$202M	0.6x	1%	-	12%	5%	13%	$1M
Nfiniti	0.0%	$6	+275%	$191M	-	-	-	-	-	-	-
Hawesko Holding	0.0%	$20	-27%	$175M	0.4x	0%	-	9%	6%	9%	$610K
Purcari Wineries	0.0%	$4	-10%	$175M	-	-	-	-	-	-	$106K
VSPT Wine Group	0.0%	$0	-3%	$173M	-	-	-	-	-	-	$251K
Masi Agricola	0.0%	$5	+12%	$171M	2.7x	6%	-	14%	-	17%	$561K
Santa Rita	0.0%	$0	-	$168M	-	-	-	-	-	-	$241K
Brewery Haacht	0.0%	$2,079	+8%	$156M	-	-	-	-	-	-	$270K
KEO	0.0%	$3	+14%	$145M	-	-	-	-	-	-	$202K
Kulmbacher Brauerei	0.0%	$41	-11%	$137M	-	-	-	-	-	-	$356K
Vranken-Pommery Monopole	0.0%	$15	-	$137M	-	-8%	-	16%	33%	9%	-
Sula Vineyards	0.0%	$2	-47%	$136M	2.6x	10%	72%	23%	16%	37%	$78K
Schloss Wachenheim	0.0%	$16	-6%	$124M	0.4x	4%	44%	11%	4%	15%	$379K
Ambra	0.0%	$5	-15%	$121M	0.5x	4%	-	13%	5%	16%	$296K
Shepherd Neame	0.0%	$7	+2%	$98M	1.2x	2%	-	15%	6%	17%	$128K
Advini	0.0%	$20	+37%	$79M	0.8x	7%	-	7%	1%	17%	$441K
Harboes Bryggeri	0.0%	$17	-18%	$71M	-	-	-	-	-	-	$539K
Lark Distilling	0.0%	$1	+2%	$65M	3.4x	28%	-	-13%	-14%	-1%	$1M
Naked Wines	0.0%	$1	-9%	$61M	0.1x	-6%	39%	5%	3%	-7%	$958K
HLB Global	0.0%	$1	-35%	$54M	-	-	-	-	-	-	-
Gurktaler	0.0%	$18	+5%	$38M	-	-	-	-	-	-	$1M
Berentzen-Gruppe	0.0%	$4	-19%	$35M	0.2x	-24%	44%	10%	1%	11%	$732K
Nokian Panimo	0.0%	$3	+5%	$31M	-	-	-	-	-	-	$374K
Prilepska Pivarnica	0.0%	$691	+2%	$28M	-	-	-	-	-	-	$170K
Viña Emiliana	0.0%	$0	+0%	$21M	-	-	-	-	-	-	$106K
Foley Wines	0.0%	$0	-22%	$18M	-	-	-	-	-	-	-
High Coast Distillery	0.0%	$3	-46%	$18M	-	-	-	-	-	-	-
PARK & Bellheimer	0.0%	$3	-5%	$15M	-	-	-	-	-	-	$211K