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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

1.8x

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.

-31.8%

Multiples Take a Shot Index

Data as of 16 August 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 August 16, 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 August 16, 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	$261B	$249B	$156B
EV/Revenue (NTM)	3.0x	8.8x	3.3x
EV/Gross Profit (NTM)	4.4x	9.7x	5.9x
EV/EBITDA (NTM)	10.1x	13.1x	9.1x
EV/FCF (NTM)	19.6x	17.1x	16.6x
Revenue Growth	2%	6%	6%
Gross Margin (NTM)	69%	91%	56%
EBITDA Margin (NTM)	30%	67%	36%
FCF Margin (NTM)	15%	51%	20%
Rule of 40	30%	71%	46%
Rule of X	30%	78%	60%

Data as of August 16, 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	12.5%	$530	-10%	$261B	3.0x	2%	69%	30%	15%	30%	$434K
Kweichow Moutai	11.9%	$199	-4%	$249B	8.8x	6%	91%	67%	51%	71%	$734K
AB InBev	7.4%	$79	+27%	$156B	3.3x	6%	56%	36%	20%	46%	$415K
Diageo	4.3%	$24	-14%	$53B	3.8x	-2%	59%	33%	16%	30%	$678K
Heineken	3.8%	$85	+6%	$47B	1.9x	4%	-	23%	10%	30%	$379K
Ambev	5.4%	$3	+24%	$44B	2.3x	3%	44%	34%	21%	36%	$402K
Wuliangye	5.2%	$11	-40%	$42B	3.0x	14%	79%	41%	30%	66%	$239K
Backus	4.3%	-	-	$35B	-	-	-	-	-	-	-
Constellation Brands	2.9%	$139	-15%	$24B	3.7x	1%	52%	37%	21%	35%	$862K
Xinghuacun Fenjiu	2.8%	$18	-35%	$22B	3.6x	2%	74%	42%	24%	38%	$412K
Heineken Holding	2.7%	$81	+14%	$22B	1.2x	5%	-	-	-	-	$379K
Pernod Ricard	2.5%	$80	-29%	$20B	3.0x	0%	59%	30%	13%	23%	$696K
Carlsberg	2.4%	$150	+23%	$20B	2.0x	3%	46%	22%	10%	26%	$373K
Luzhou Laojiao	2.4%	$13	-31%	$20B	4.5x	-1%	85%	56%	44%	46%	$996K
Asahi Group	2.0%	$11	-13%	$16B	1.2x	7%	37%	15%	3%	24%	$535K
Kirin Holdings	1.9%	$20	+34%	$16B	1.2x	1%	47%	14%	7%	18%	$422K
Eastroc Beverage	1.6%	$18	-46%	$13B	2.8x	16%	46%	28%	16%	45%	$282K
Brown-Forman	1.6%	$29	-4%	$13B	3.9x	1%	59%	29%	19%	29%	$786K
United Spirits	1.4%	$16	+7%	$11B	7.3x	8%	47%	19%	9%	28%	$537K
Budweiser APAC	1.3%	$1	-24%	$11B	1.4x	2%	52%	27%	13%	28%	$263K
ThaiBev	1.1%	$0	+3%	$9.2B	1.4x	3%	37%	16%	10%	18%	$172K
China Resources Beer	1.1%	$3	-21%	$9.2B	1.4x	4%	45%	26%	15%	28%	$217K
Tsingtao Brewery	1.1%	$7	-31%	$9.2B	1.2x	2%	45%	22%	14%	21%	$161K
Jiangsu Yanghe Distillery	1.1%	$6	-42%	$9.1B	2.4x	-5%	72%	24%	18%	4%	$132K
Campari Group	1.0%	$7	-7%	$8.4B	2.9x	2%	62%	26%	10%	25%	$672K
Molson Coors Canada	1.0%	$43	-14%	$8.1B	-	-	-	-	-	-	$688K
Molson Coors	1.0%	$43	-15%	$8B	1.2x	0%	36%	19%	9%	18%	$688K
Anhui Gujing Distillery	0.9%	$13	-45%	$7B	1.8x	2%	79%	30%	16%	25%	$208K
Radico Khaitan	0.8%	$49	+50%	$6.5B	8.7x	13%	49%	20%	10%	36%	$420K
Jiangsu King's Luck	0.7%	$4	-27%	$5.5B	2.9x	3%	74%	36%	28%	33%	$289K
Yanjing Brewery	0.7%	$2	+7%	$5.3B	1.8x	5%	46%	21%	-	26%	$114K
Sapporo Holdings	0.6%	$13	+34%	$5B	1.9x	0%	35%	8%	22%	6%	$322K
Anhui Yingjia Distillery	0.6%	$6	-4%	$4.9B	4.2x	9%	73%	47%	-	54%	$111K
Endeavour Group	0.6%	$3	+1%	$4.5B	0.9x	2%	29%	12%	5%	14%	$285K
Emperador	0.5%	$0	-14%	$3.9B	4.4x	6%	35%	19%	3%	23%	$289K
United Breweries	0.5%	$14	-32%	$3.8B	3.5x	11%	43%	10%	3%	20%	$671K
ZJLD Group	0.4%	$1	-19%	$3.6B	4.6x	16%	60%	35%	-	48%	$48K
Royal Unibrew	0.4%	$73	-5%	$3.5B	1.8x	2%	44%	20%	9%	20%	$574K
Treasury Wine Estates	0.4%	$4	-18%	$3.4B	2.7x	-3%	39%	27%	11%	-16%	$697K
Becle	0.4%	$1	-23%	$3.2B	1.6x	2%	56%	22%	12%	15%	$301K
Chongqing Brewery	0.4%	$6	-18%	$3.1B	1.2x	2%	51%	26%	18%	25%	$318K
Remy Cointreau	0.4%	$55	-10%	$2.9B	3.2x	4%	66%	23%	5%	23%	$583K
Anadolu Efes	0.3%	$0	-2%	$2.4B	0.5x	26%	-	17%	-	51%	$256K
SABECO	0.3%	$2	-2%	$2.2B	1.3x	4%	33%	20%	16%	27%	$127K
Compañía de Cervecerías Unidas	0.3%	$6	-8%	$2.1B	0.9x	2%	-	14%	2%	19%	$330K
Boston Beer	0.2%	$186	-16%	$1.9B	0.9x	-1%	50%	11%	5%	8%	$718K
Anhui Kouzi Distillery	0.2%	$3	-39%	$1.8B	2.9x	1%	69%	-	-	-	$135K
East African Breweries	0.2%	$2	+26%	$1.7B	1.6x	5%	-	31%	-	38%	$600K
Nigerian Breweries	0.2%	$0	+9%	$1.5B	1.0x	22%	42%	21%	10%	43%	$473K
Tilaknagar Industries	0.2%	$6	+10%	$1.5B	3.3x	49%	45%	16%	10%	105%	$632K
International Breweries	0.2%	$0	-6%	$1.3B	2.0x	18%	-	24%	-	44%	$303K
Cerveceria San Juan	0.1%	-	-	$1.1B	-	-	-	-	-	-	-
Tuborg	0.1%	$3	-35%	$925M	-	-	-	-	-	-	$496K
Olvi	0.1%	$39	+11%	$803M	0.8x	8%	30%	16%	7%	31%	$313K
Hitejinro	0.1%	$11	-19%	$779M	0.8x	2%	44%	13%	6%	11%	-
Concha y Toro	0.1%	$1	-19%	$689M	1.1x	7%	-	16%	-	19%	$405K
Oeneo	0.1%	$11	-3%	$671M	2.2x	3%	-	22%	13%	20%	$285K
Societe des Boissons du Maroc	0.1%	$233	-	$659M	1.7x	7%	-	21%	14%	24%	$347K
Guinness Nigeria	0.1%	$0	+226%	$606M	1.1x	18%	54%	18%	12%	48%	$459K
Laurent-Perrier	0.1%	$97	-10%	$572M	2.2x	2%	-	26%	18%	29%	$887K
Malteries Franco-Belges	0.1%	$972	-7%	$482M	-	-	-	-	-	-	$1M
C&C Group	0.1%	$1	-43%	$482M	0.5x	-3%	-	7%	2%	2%	$661K
Marston's	0.1%	$1	+37%	$451M	1.7x	2%	-	23%	6%	24%	$117K
Marie Brizard Wine & Spirits	0.0%	$4	+0%	$392M	1.7x	1%	-	8%	6%	8%	$104K
Viva Wine Group	0.0%	$4	-1%	$361M	0.7x	6%	20%	8%	5%	24%	$2M
SNDL	0.0%	$1	-53%	$313M	0.5x	-1%	27%	7%	2%	1%	$262K
Anora Group	0.0%	$5	+20%	$311M	0.7x	-2%	-	12%	6%	9%	$628K
Ottakringer Getraenke	0.0%	$127	-	$307M	-	-	-	-	-	-	$319K
Andrew Peller	0.0%	$6	+70%	$277M	-	-	-	-	-	19%	$203K
Delegat Group	0.0%	$3	+6%	$256M	2.2x	4%	45%	33%	14%	38%	-
Zwack Unicum	0.0%	$124	+36%	$249M	-	-	-	-	-	20%	$305K
Kopparberg Bryggeri	0.0%	$13	+6%	$216M	-	-	-	-	-	-	$539K
Brewery Haacht	0.0%	$2,776	+36%	$208M	-	-	-	-	-	-	$273K
Lanson-BCC	0.0%	$31	-28%	$207M	2.8x	15%	-	20%	13%	33%	$601K
Italian Wine Brands	0.0%	$22	-17%	$203M	0.6x	1%	-	12%	6%	13%	$1M
Nfiniti	0.0%	$6	+253%	$191M	-	-	-	-	-	-	-
Purcari Wineries	0.0%	$4	-9%	$179M	2.1x	-	-	29%	-	40%	$107K
Hawesko Holding	0.0%	$20	-25%	$177M	0.4x	0%	-	9%	6%	7%	$603K
VSPT Wine Group	0.0%	$0	+4%	$175M	-	-	-	-	-	-	$253K
Santa Rita	0.0%	$0	+6%	$170M	-	-	-	-	-	-	$242K
Masi Agricola	0.0%	$5	+4%	$159M	2.6x	7%	-	13%	-	13%	$564K
KEO	0.0%	$4	+9%	$156M	-	-	-	-	-	-	$205K
Schloss Wachenheim	0.0%	$17	+0%	$137M	0.4x	3%	44%	11%	4%	15%	$372K
Vranken-Pommery Monopole	0.0%	-	-	$137M	-	-5%	-	15%	29%	9%	$364K
Kulmbacher Brauerei	0.0%	$40	-14%	$135M	-	-	-	-	-	-	$360K
Sula Vineyards	0.0%	$2	-45%	$132M	2.6x	8%	70%	21%	10%	33%	$71K
Ambra	0.0%	$5	-9%	$125M	0.6x	4%	-	13%	6%	16%	$289K
Chapel Down Gr	0.0%	$1	-	$101M	4.0x	15%	-	17%	-18%	31%	$286K
Shepherd Neame	0.0%	$7	+3%	$97M	1.2x	2%	-	15%	6%	17%	$129K
Harboes Bryggeri	0.0%	$18	-12%	$77M	-	-	-	-	-	6%	$522K
Advini	0.0%	$19	+32%	$77M	0.8x	5%	-	7%	2%	15%	$433K
Lark Distilling	0.0%	$1	+19%	$68M	3.6x	13%	-	-10%	-21%	-5%	$2M
Naked Wines	0.0%	$1	-21%	$64M	0.1x	-13%	35%	5%	5%	-15%	$776K
HLB Global	0.0%	$1	-24%	$59M	-	-	-	-	-	-	-
Riojanas	0.0%	$1	-70%	$57M	-	-	-	-	-	-	$175K
Gurktaler	0.0%	$17	-6%	$37M	-	-	-	-	-	59%	$992K
Berentzen-Gruppe	0.0%	$4	-21%	$35M	0.2x	-20%	44%	9%	1%	3%	$438K
Monika Alcobev	0.0%	$2	-	$35M	-	-	-	-	-	23%	$161K
Nokian Panimo	0.0%	$3	-1%	$29M	1.4x	13%	-	19%	0%	32%	$366K
Prilepska Pivarnica	0.0%	$726	+7%	$29M	-	-	-	-	-	-	$176K