LVMH Moët Hennessy - Louis Vuitton Société Européenne
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LVMH Moët Hennessy - Louis Vuitton, Société Européenne operates as a luxury products company. The last earnings update was 68 days ago. More info.
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- LVMH Moët Hennessy - Louis Vuitton Société Européenne has significant price volatility in the past 3 months.
MC Share Price and Events
7 Day Returns
1 Year Returns
MC Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| LVMH Moët Hennessy - Louis Vuitton Société Européenne (MC) | 0.8% | 11.4% | 35.7% | 23.9% | 136.6% | 148.8% |
| FR Luxury | 1.8% | 8.9% | 25% | 19.5% | 110.6% | 142.6% |
| FR Market | 1.2% | 5.8% | 14.6% | 3.3% | 29.7% | 33.4% |
1 Year Return vs Industry and Market
- MC outperformed the Luxury industry which returned 19.5% over the past year.
- MC outperformed the Market in France which returned 3.3% over the past year.
Value
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
LVMH Moët Hennessy - Louis Vuitton Société Européenne
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for LVMH Moët Hennessy - Louis Vuitton Société Européenne.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 26 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 6.3% |
| Perpetual Growth Rate | 10-Year FR Government Bond Rate | 0.7% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year FR Govt Bond Rate | 0.7% |
| Equity Risk Premium | S&P Global | 6.7% |
| Luxury Unlevered Beta | Simply Wall St/ S&P Global | 0.73 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.729 (1 + (1- 33%) (6.29%)) |
0.839 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.84 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.73% + (0.839 * 6.65%) |
6.31% |
Discounted Cash Flow Calculation for ENXTPA:MC using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for LVMH Moët Hennessy - Louis Vuitton Société Européenne is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
| Levered FCF (EUR, Millions) | Source |
Present Value Discounted (@ 6.31%) |
|
|---|---|---|---|
| 2019 | 6,631.76 | Analyst x11 | 6,237.92 |
| 2020 | 7,281.55 | Analyst x16 | 6,442.39 |
| 2021 | 7,808.43 | Analyst x10 | 6,498.27 |
| 2022 | 8,439.00 | Analyst x1 | 6,605.96 |
| 2023 | 9,557.00 | Analyst x1 | 7,036.85 |
| 2024 | 10,181.52 | Est @ 6.53% | 7,051.49 |
| 2025 | 10,669.65 | Est @ 4.79% | 6,950.71 |
| 2026 | 11,051.18 | Est @ 3.58% | 6,771.72 |
| 2027 | 11,352.10 | Est @ 2.72% | 6,543.02 |
| 2028 | 11,593.44 | Est @ 2.13% | 6,285.29 |
| Present value of next 10 years cash flows | €66,423.62 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= €11,593.44 × (1 + 0.73%) ÷ (6.31% – 0.73%) |
€209,269.57 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= €209,269.57 ÷ (1 + 6.31%)10 |
€113,453.85 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= €66,423.62 + €113,453.85 |
€179,877.47 |
| Equity Value per Share (EUR) |
= Total value / Shares Outstanding
= €179,877.47 / 502.89 |
€357.68 |
| Calculation | Result | |
|---|---|---|
| Value per share (EUR) | From above. | €357.68 |
| Current discount | Discount to share price of
€349.10
= -1 x (€349.10 - €357.68) / €357.68 |
2.4% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- LVMH Moët Hennessy - Louis Vuitton Société Européenne's share price is below the future cash flow value, but not at a moderate discount (< 20%).
- LVMH Moët Hennessy - Louis Vuitton Société Européenne's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for LVMH Moët Hennessy - Louis Vuitton Société Européenne's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
LVMH Moët Hennessy - Louis Vuitton Société Européenne's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-12-31) in EUR | €12.64 |
| ENXTPA:MC Share Price ** | ENXTPA (2019-04-23) in EUR | €349.1 |
| France Luxury Industry PE Ratio | Median Figure of 9 Publicly-Listed Luxury Companies | 25.94x |
| France Market PE Ratio | Median Figure of 418 Publicly-Listed Companies | 16.23x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of LVMH Moët Hennessy - Louis Vuitton Société Européenne.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = ENXTPA:MC Share Price ÷ EPS (both in EUR) = 349.1 ÷ 12.64 |
27.63x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- LVMH Moët Hennessy - Louis Vuitton Société Européenne is overvalued based on earnings compared to the FR Luxury industry average.
- LVMH Moët Hennessy - Louis Vuitton Société Européenne is overvalued based on earnings compared to the France market.
Price based on expected Growth
Does
LVMH Moët Hennessy - Louis Vuitton Société Européenne's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 27.63x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 26 Analysts |
9.7%per year |
| France Luxury Industry PEG Ratio | Median Figure of 6 Publicly-Listed Luxury Companies | 2.16x |
| France Market PEG Ratio | Median Figure of 273 Publicly-Listed Companies | 1.52x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 27.63x ÷ 9.7% |
2.83x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- LVMH Moët Hennessy - Louis Vuitton Société Européenne is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
LVMH Moët Hennessy - Louis Vuitton Société Européenne's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-31) in EUR | €64.21 |
| ENXTPA:MC Share Price * | ENXTPA (2019-04-23) in EUR | €349.1 |
| France Luxury Industry PB Ratio | Median Figure of 14 Publicly-Listed Luxury Companies | 1.66x |
| France Market PB Ratio | Median Figure of 617 Publicly-Listed Companies | 1.49x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = ENXTPA:MC Share Price ÷ Book Value per Share (both in EUR) = 349.1 ÷ 64.21 |
5.44x |
* Primary Listing of LVMH Moët Hennessy - Louis Vuitton Société Européenne.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- LVMH Moët Hennessy - Louis Vuitton Société Européenne is overvalued based on assets compared to the FR Luxury industry average.
Value checks
We assess LVMH Moët Hennessy - Louis Vuitton Société Européenne's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the Luxury industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Luxury industry average (and greater than 0)? (1 check) LVMH Moët Hennessy - Louis Vuitton Société Européenne has a total score of 0/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
Future Performance
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- LVMH Moët Hennessy - Louis Vuitton Société Européenne's earnings growth is expected to exceed the low risk savings rate of 0.7%.
Growth vs Market Checks
- LVMH Moët Hennessy - Louis Vuitton Société Européenne's earnings growth is positive but not above the France market average.
- LVMH Moët Hennessy - Louis Vuitton Société Européenne's revenue growth is expected to exceed the France market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| ENXTPA:MC Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 26 Analysts | 9.7% |
| ENXTPA:MC Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 26 Analysts | 6.9% |
| France Luxury Industry Earnings Growth Rate | Market Cap Weighted Average | 11.4% |
| France Luxury Industry Revenue Growth Rate | Market Cap Weighted Average | 7.6% |
| France Market Earnings Growth Rate | Market Cap Weighted Average | 13.4% |
| France Market Revenue Growth Rate | Market Cap Weighted Average | 4.9% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 26 Analyst Estimates (S&P Global) | See Below |
| Date (Data in EUR Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | 67,204 | 4 | ||
| 2022-12-31 | 63,084 | 6 | ||
| 2021-12-31 | 58,756 | 11,349 | 8,607 | 19 |
| 2020-12-31 | 55,293 | 10,562 | 7,934 | 26 |
| 2019-12-31 | 52,261 | 9,703 | 7,334 | 19 |
| Date (Data in EUR Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-12-31 | 46,826 | 8,490 | 6,354 |
| 2018-09-30 | 45,749 | 8,186 | 6,298 |
| 2018-06-30 | 44,672 | 7,939 | 6,006 |
| 2018-03-31 | 43,654 | 7,485 | 5,568 |
| 2017-12-31 | 42,636 | 6,972 | 5,365 |
| 2017-09-30 | 41,381 | 6,853 | 4,966 |
| 2017-06-30 | 40,126 | 6,859 | 4,397 |
| 2017-03-31 | 38,863 | 6,549 | 4,189 |
| 2016-12-31 | 37,600 | 6,176 | 4,066 |
| 2016-09-30 | 36,873 | 6,006 | 3,843 |
| 2016-06-30 | 36,145 | 5,772 | 3,704 |
| 2016-03-31 | 35,905 | 5,703 | 3,639 |
*GAAP earnings excluding extraordinary items.
High Growth Checks
- LVMH Moët Hennessy - Louis Vuitton Société Européenne's earnings are expected to grow by 9.7% yearly, however this is not considered high growth (20% yearly).
- LVMH Moët Hennessy - Louis Vuitton Société Européenne's revenue is expected to grow by 6.9% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 26 Analyst Estimates (S&P Global) | See Below |
All data from LVMH Moët Hennessy - Louis Vuitton Société Européenne Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in EUR Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | ||||
| 2022-12-31 | ||||
| 2021-12-31 | 17.03 | 18.04 | 15.96 | 18.00 |
| 2020-12-31 | 15.70 | 17.14 | 14.53 | 24.00 |
| 2019-12-31 | 14.48 | 15.57 | 13.68 | 22.00 |
| Date (Data in EUR Millions) | EPS * |
|---|---|
| 2018-12-31 | 12.64 |
| 2018-09-30 | 12.53 |
| 2018-06-30 | 11.95 |
| 2018-03-31 | 11.08 |
| 2017-12-31 | 10.68 |
| 2017-09-30 | 9.88 |
| 2017-06-30 | 8.75 |
| 2017-03-31 | 8.33 |
| 2016-12-31 | 8.08 |
| 2016-09-30 | 7.64 |
| 2016-06-30 | 7.37 |
| 2016-03-31 | 7.24 |
*GAAP earnings excluding extraordinary items.
Performance in 3 years
In the same way as past performance we look at the future estimated return
(profit) compared to the available
funds. We do this looking forward 3 years.
- LVMH Moët Hennessy - Louis Vuitton Société Européenne is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
Future performance checks
We assess LVMH Moët Hennessy - Louis Vuitton Société Européenne's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the France market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the France market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
LVMH Moët Hennessy - Louis Vuitton Société Européenne has a total score of 2/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
Past Performance
How has LVMH Moët Hennessy - Louis Vuitton Société Européenne performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- LVMH Moët Hennessy - Louis Vuitton Société Européenne's year on year earnings growth rate has been positive over the past 5 years.
- LVMH Moët Hennessy - Louis Vuitton Société Européenne's 1-year earnings growth exceeds its 5-year average (18.4% vs 8.1%)
- LVMH Moët Hennessy - Louis Vuitton Société Européenne's earnings growth has exceeded the FR Luxury industry average in the past year (18.4% vs 13.9%).
Earnings and Revenue History
All data from LVMH Moët Hennessy - Louis Vuitton Société Européenne Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in EUR Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-12-31 | 46,826.00 | 6,354.00 | 21,221.00 | |
| 2018-09-30 | 45,749.00 | 6,298.00 | 20,785.00 | |
| 2018-06-30 | 44,672.00 | 6,006.00 | 20,349.00 | |
| 2018-03-31 | 43,654.00 | 5,567.50 | 19,953.00 | |
| 2017-12-31 | 42,636.00 | 5,365.00 | 19,557.00 | |
| 2017-09-30 | 41,381.00 | 4,966.00 | 18,985.50 | |
| 2017-06-30 | 40,126.00 | 4,397.00 | 18,414.00 | |
| 2017-03-31 | 38,863.00 | 4,189.00 | 17,976.00 | |
| 2016-12-31 | 37,600.00 | 4,066.00 | 17,538.00 | |
| 2016-09-30 | 36,872.50 | 3,842.50 | 17,239.50 | |
| 2016-06-30 | 36,145.00 | 3,704.00 | 16,941.00 | |
| 2016-03-31 | 35,904.50 | 3,638.50 | 16,717.00 | |
| 2015-12-31 | 35,664.00 | 3,573.00 | 16,493.00 | |
| 2015-09-30 | 34,500.00 | 4,646.00 | 15,938.00 | |
| 2015-06-30 | 33,336.00 | 5,719.00 | 15,383.00 | |
| 2015-03-31 | 31,987.00 | 5,683.50 | 14,750.00 | |
| 2014-12-31 | 30,638.00 | 5,648.00 | 14,117.00 | |
| 2014-09-30 | 30,015.50 | 4,508.00 | 13,721.00 | |
| 2014-06-30 | 29,393.00 | 3,368.00 | 13,325.00 | |
| 2014-03-31 | 29,204.50 | 3,402.00 | 13,152.00 | |
| 2013-12-31 | 29,016.00 | 3,436.00 | 12,979.00 | |
| 2013-09-30 | 28,759.50 | 3,379.00 | 12,761.50 | |
| 2013-06-30 | 28,769.00 | 3,320.00 | 12,746.00 | |
| 2013-03-31 | 28,436.00 | 3,372.00 | 12,505.50 | |
| 2012-12-31 | 27,970.00 | 3,425.00 | 12,164.00 | |
| 2012-09-30 | 27,218.00 | 3,430.00 | 11,860.00 | |
| 2012-06-30 | 26,333.00 | 3,436.00 | 11,455.00 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- LVMH Moët Hennessy - Louis Vuitton Société Européenne has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
- LVMH Moët Hennessy - Louis Vuitton Société Européenne used its assets more efficiently than the FR Luxury industry average last year based on Return on Assets.
- LVMH Moët Hennessy - Louis Vuitton Société Européenne has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess LVMH Moët Hennessy - Louis Vuitton Société Européenne's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Luxury industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
LVMH Moët Hennessy - Louis Vuitton Société Européenne has a total score of 6/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
Health
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up LVMH Moët Hennessy - Louis Vuitton Société Européenne's finances.
The net worth of a company is the difference between its assets and liabilities.
- LVMH Moët Hennessy - Louis Vuitton Société Européenne is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- LVMH Moët Hennessy - Louis Vuitton Société Européenne's cash and other short term assets cover its long term commitments.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is covered by short term assets, assets are 2.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from LVMH Moët Hennessy - Louis Vuitton Société Européenne Company Filings, last reported 3 months ago.
| Date (Data in EUR Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-12-31 | 33,957.00 | 11,051.00 | 5,288.00 |
| 2018-09-30 | 33,957.00 | 11,051.00 | 5,288.00 |
| 2018-06-30 | 31,482.00 | 12,368.00 | 4,964.00 |
| 2018-03-31 | 31,482.00 | 12,368.00 | 4,964.00 |
| 2017-12-31 | 30,377.00 | 11,590.00 | 4,262.00 |
| 2017-09-30 | 30,377.00 | 11,590.00 | 4,262.00 |
| 2017-06-30 | 28,292.00 | 13,090.00 | 8,975.00 |
| 2017-03-31 | 28,292.00 | 13,090.00 | 8,975.00 |
| 2016-12-31 | 27,898.00 | 7,384.00 | 3,935.00 |
| 2016-09-30 | 27,903.00 | 7,384.00 | 3,935.00 |
| 2016-06-30 | 26,073.00 | 8,755.00 | 3,255.00 |
| 2016-03-31 | 26,073.00 | 8,755.00 | 3,255.00 |
| 2015-12-31 | 25,799.00 | 8,285.00 | 3,993.00 |
| 2015-09-30 | 25,799.00 | 8,285.00 | 3,993.00 |
| 2015-06-30 | 24,445.00 | 8,908.00 | 2,829.00 |
| 2015-03-31 | 24,445.00 | 8,908.00 | 2,829.00 |
| 2014-12-31 | 23,003.00 | 9,252.00 | 4,386.00 |
| 2014-09-30 | 23,003.00 | 9,252.00 | 4,386.00 |
| 2014-06-30 | 28,604.00 | 8,886.00 | 2,375.00 |
| 2014-03-31 | 28,604.00 | 8,886.00 | 2,375.00 |
| 2013-12-31 | 27,907.00 | 8,841.00 | 3,465.00 |
| 2013-09-30 | 27,907.00 | 8,841.00 | 3,465.00 |
| 2013-06-30 | 26,503.00 | 7,153.00 | 2,109.00 |
| 2013-03-31 | 26,503.00 | 7,153.00 | 2,109.00 |
| 2012-12-31 | 25,508.00 | 6,784.00 | 2,420.00 |
| 2012-09-30 | 25,508.00 | 6,821.00 | 2,429.00 |
| 2012-06-30 | 24,718.00 | 8,439.00 | 2,745.00 |
- LVMH Moët Hennessy - Louis Vuitton Société Européenne's level of debt (32.5%) compared to net worth is satisfactory (less than 40%).
- The level of debt compared to net worth has increased over the past 5 years (31.7% vs 32.5% today).
- Debt is well covered by operating cash flow (76.8%, greater than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 103.8x coverage).
Financial health checks
We assess LVMH Moët Hennessy - Louis Vuitton Société Européenne's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) LVMH Moët Hennessy - Louis Vuitton Société Européenne has a total score of 5/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
Dividends
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
€2,000 of
LVMH Moët Hennessy - Louis Vuitton Société Européenne
shares you are expected to receive
€34
in your first year as a dividend.
Dividend Amount
- LVMH Moët Hennessy - Louis Vuitton Société Européenne's pays a higher dividend yield than the bottom 25% of dividend payers in France (1.56%).
- LVMH Moët Hennessy - Louis Vuitton Société Européenne's dividend is below the markets top 25% of dividend payers in France (4.36%).
Upcoming dividend payment
Purchase LVMH Moët Hennessy - Louis Vuitton Société Européenne before the 'Buy Limit' to receive their next dividend payment.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 26 Analyst Estimates (S&P Global) | See Below |
| France Luxury Industry Average Dividend Yield | Market Cap Weighted Average of 7 Stocks | 1.6% |
| France Market Average Dividend Yield | Market Cap Weighted Average of 324 Stocks | 2.9% |
| France Minimum Threshold Dividend Yield | 10th Percentile | 0.9% |
| France Bottom 25% Dividend Yield | 25th Percentile | 1.6% |
| France Top 25% Dividend Yield | 75th Percentile | 4.4% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in €) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2023-12-31 | ||
| 2022-12-31 | 9.19 | 2.00 |
| 2021-12-31 | 8.30 | 18.00 |
| 2020-12-31 | 7.53 | 23.00 |
| 2019-12-31 | 6.79 | 23.00 |
| Date (Data in €) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-01-29 | 6.000 | 1.934 |
| 2018-11-30 | 5.400 | 2.129 |
| 2018-01-25 | 5.000 | 1.811 |
| 2017-04-13 | 4.000 | 1.726 |
| 2016-07-26 | 3.600 | 2.088 |
| 2016-02-02 | 3.550 | 2.428 |
| 2015-07-28 | 3.300 | 2.152 |
| 2015-02-03 | 3.200 | 1.970 |
| 2014-07-24 | 3.150 | 2.362 |
| 2014-04-10 | 3.100 | 2.178 |
| 2013-11-26 | 3.000 | 2.287 |
| 2013-01-31 | 2.900 | 2.142 |
| 2012-11-27 | 2.900 | 2.093 |
| 2012-02-02 | 2.600 | 2.081 |
| 2011-07-26 | 2.200 | 1.945 |
| 2011-02-04 | 2.100 | 1.799 |
| 2010-11-25 | 2.000 | 1.667 |
| 2010-02-04 | 1.650 | 1.775 |
| 2009-07-27 | 0.700 | 0.982 |
| 2009-04-24 | 1.600 | 2.777 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
- Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of
LVMH Moët Hennessy - Louis Vuitton Société Européenne's earnings are
paid
to the shareholders as a dividend.
- Dividends paid are well covered by earnings (2.1x coverage).
- Dividends after 3 years are expected to be well covered by earnings (2.1x coverage).
Income/ dividend checks
We assess LVMH Moët Hennessy - Louis Vuitton Société Européenne's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can LVMH Moët Hennessy - Louis Vuitton Société Européenne afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) LVMH Moët Hennessy - Louis Vuitton Société Européenne has a total score of 4/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
Management
CEO
| COMPENSATION | €7,976,479 |
| AGE | 69 |
| TENURE AS CEO | 30.3 years |
CEO Bio
Mr. Bernard Arnault has been the Executive Chairman & Chief Executive Officer of LVMH Moët Hennessy Louis Vuitton SE since January 1989. Mr. Arnault began his career as an engineer with Ferret- Savinel, where he became Senior Vice- President for construction in 1974, Chief Executive Officer in 1977 and finally Chairman and Chief Executive Officer in 1978. He remained with the company until 1984, when he became Chairman and Chief Executive Officer of Financière Agache and of Christian Dior. Shortly thereafter, he spearheaded a reorganization of Financière Agache following a development strategy focusing on luxury brands. Mr. Arnault is an Owner of Chateau Cheval Blanc SA. He is employed at Colony Capital, LLC. He served as the Chief Executive Officer of Christian Dior SA and served as its Chief Executive Officer since January 1989. He served as the President of Europ@web. He has been the Chairman of Christian Dior SE since January 1989 and has been its Director since March 20, 1985. He serves as the Chairman of Groupe Arnault SAS and Montaigne Participations et Gestion SA. He served as the Chairman of Louis Vuitton North America, Inc. He has been a Non-Independent Director of Carrefour SA since July 28, 2008. He has been a Director of LVMH Moet Hennessy Louis Vuitton SA since September 26, 1988. He serves as a Director of Financiere Jean Goujon, Christian Dior Couture, Societe Civile du Cheval Blanc and Saint Emilion. He serves as Member of Advisory Board at 1Malaysia Development Berhad. He serves as a Director of Paris EUROPLACE and Frere-Bourgeois. He serves as a Member of Governing Board of Indian School of Business. He served as a Director of Diageo plc. He served as a Director of Vivendi Société Anonyme. He served as a Member of Supervisory Board at Lagardere Active Broadcast. He served as a Member of the Supervisory Board at Lagardere SCA since May 11, 2004. He served as a Member of the Supervisory Board of Carrefour SA from May 2008 to July 2008. He served as a Member of Supervisory Board of Métropole Télévision SA from February 18, 2004 to August 27, 2009. He is the Chairman of the Board at Château Cheval Blanc SC; and Louis Vuitton, Fondation d’Entreprise. He is a Director of International LVMH Moët Hennessy - Louis Vuitton Inc. (United States), LVMH Moët Hennessy - Louis Vuitton Japan KK (Japan) and LVMH Services Limited (United Kingdom). He serves as the Chairman of the Executive Board at Groupe Arnault SEDCS. He served as a Director of LVMH International SA (Belgium). Mr. Arnault is graduated from Ecole Polytechnique de Montreal in 1971.
CEO Compensation
- Bernard's compensation has been consistent with company performance over the past year.
- Bernard's remuneration is higher than average for companies of similar size in France.
Management Team Tenure
Average tenure and age of the LVMH Moët Hennessy - Louis Vuitton Société Européenne management team in years:
- The average tenure for the LVMH Moët Hennessy - Louis Vuitton Société Européenne management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team
Bernard Arnault
Chairman & CEO
€8M
69
30.3 yrs
Nicolas Bazire
Senior VP of Development & Acquisitions and Director
€4M
61
Toni Belloni
Group MD & Director
€8M
64
17.6 yrs
Delphine Gancia
Director
€3M
43
5.6 yrs
Jean-Jacques Guiony
Chief Financial Officer
57
15.3 yrs
Bernard Kuhn
General Counsel
Chantal Gaemperle
Executive Vice President of Human Resources & Synergies
56
Shantanu Mukherji
Managing Director od L Catterton
Bruno Villeneuve
Managing Director of Franck & Fils
8.3 yrs
Jean-Baptiste Voisin
Chief Strategy Officer
51
13.3 yrs
Board of Directors Tenure
Average tenure and age of the LVMH Moët Hennessy - Louis Vuitton Société Européenne board of directors in years:
- The average tenure for the LVMH Moët Hennessy - Louis Vuitton Société Européenne board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors
Bernard Arnault
Chairman & CEO
€8M
69
30.3 yrs
Nicolas Bazire
Senior VP of Development & Acquisitions and Director
€4M
61
19.9 yrs
Toni Belloni
Group MD & Director
€8M
64
16.9 yrs
Daniel Piette
Chairman of LVMH Investment Funds
73
Delphine Gancia
Director
€3M
43
15.6 yrs
Serge Brunschwig
Chairman & CEO of Fendi
Jean-Christophe Babin
Chairman of Tag Heuer and Chief Executive Officer of Tag Heuer
19.3 yrs
Claude Martinez
Chairman & CEO of Parfums Christian Dior
Patrice Wagner
Chairman & CEO of Le Bon Marche Group
8.5 yrs
Pietro Beccari
Chairman & CEO of Christian Dior Couture
1.2 yrs
Michael Burke
Chairman & CEO of Louis Vuitton
6.3 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (€) | Value (€) | |
|---|---|---|---|---|---|---|---|---|---|---|
Management checks
We assess LVMH Moët Hennessy - Louis Vuitton Société Européenne's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) LVMH Moët Hennessy - Louis Vuitton Société Européenne has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
News
Simply Wall St News
1 Days Left Before LVMH Moët Hennessy - Louis Vuitton, Société Européenne (EPA:MC) Will Be Trading Ex-Dividend
If you are interested in cashing in on LVMH Moët Hennessy - Louis Vuitton, Société Européenne's (EPA:MC) upcoming dividend of €4.00 per share, you only have 1 days left to buy the shares before its ex-dividend date, 25 April 2019, in time for dividends payable on the 29 April 2019. … Investors looking for higher income-generating stocks to add to their portfolio should keep reading, as I take a deeper dive into LVMH Moët Hennessy - Louis Vuitton Société Européenne's latest financial data to analyse its dividend attributes. … See our latest analysis for LVMH Moët Hennessy - Louis Vuitton Société Européenne?
Simply Wall St - – Full articleLVMH Moët Hennessy - Louis Vuitton, Société Européenne (EPA:MC): The Best Of Both Worlds
As an investor, I look for investments which does not compromise one fundamental factor for another. … By this I mean, I look at stocks holistically, from their financial health to their future outlook. … In the case of LVMH Moët Hennessy - Louis Vuitton, Société Européenne (EPA:MC), it
Simply Wall St - – Full articleLVMH Moët Hennessy - Louis Vuitton, Société Européenne (EPA:MC): Poised For Long-Term Success?
LVMH Moët Hennessy - Louis Vuitton, Société Européenne's (EPA:MC) latest earnings announcement in December 2018a
Simply Wall St - – Full articleDoes LVMH Moët Hennessy - Louis Vuitton, Société Européenne (EPA:MC) Create Value For Shareholders?
We'll use ROE to examine LVMH Moët Hennessy - Louis Vuitton, Société Européenne (EPA:MC), by way of a worked example. … LVMH Moët Hennessy - Louis Vuitton Société Européenne has a ROE of 21%, based on the last twelve months. … View our latest analysis for LVMH Moët Hennessy - Louis Vuitton Société Européenne?
Simply Wall St - – Full articleWhy LVMH Moët Hennessy Louis Vuitton S.E.'s (EPA:MC) CEO Pay Matters To You
Bernard Arnault became the CEO of LVMH Moët Hennessy Louis Vuitton S.E. … View our latest analysis for LVMH Moët Hennessy Louis Vuitton? … Our data indicates that LVMH Moët Hennessy Louis Vuitton S.E.
Simply Wall St - – Full articleIs LVMH Moët Hennessy Louis Vuitton S.E. (EPA:MC) A Great Dividend Stock?
Historically, LVMH Moët Hennessy Louis Vuitton S.E. … Does LVMH Moët Hennessy Louis Vuitton tick all the boxes of a great dividend stock? … Check out our latest analysis for LVMH Moët Hennessy Louis Vuitton
Simply Wall St - – Full articleLVMH Moët Hennessy Louis Vuitton S.E. (EPA:MC) Earns A Nice Return On Capital Employed
To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … Understanding Return On Capital Employed (ROCE). … ROCE measures the amount of pre-tax profits a company can generate from the capital employed in its business.
Simply Wall St - – Full articleDid Business Growth Power LVMH Moët Hennessy Louis Vuitton's Share Price Gain of 129%?
For example, the LVMH Moët Hennessy Louis Vuitton S.E. … View our latest analysis for LVMH Moët Hennessy Louis Vuitton. … During five years of share price growth, LVMH Moët Hennessy Louis Vuitton achieved compound earnings per share (EPS) growth of 13% per year.
Simply Wall St - – Full articleLVMH Moët Hennessy Louis Vuitton S.E.'s (EPA:MC) Earnings Grew 18%, Did It Beat Long-Term Trend?
Examining LVMH Moët Hennessy Louis Vuitton S.E.'s (EPA:MC) past track record of performance is a valuable exercise for investors. … Below, I will assess MC's latest performance announced on 31 December 2018 and weigh these figures against its longer term trend and industry movements. … Check out our latest analysis for LVMH Moët Hennessy Louis Vuitton?
Simply Wall St - – Full articleWhat Does LVMH Moët Hennessy Louis Vuitton S.E.'s (EPA:MC) Share Price Indicate?
Let's talk about the popular LVMH Moët Hennessy Louis Vuitton S.E. … received a lot of attention from a substantial price increase on the ENXTPA over the last few months … As a large-cap stock with high coverage by analysts, you could assume any recent changes in the company’s outlook is already priced into the stock.
Simply Wall St - – Full articleCompany Info
Description
LVMH Moët Hennessy - Louis Vuitton, Société Européenne operates as a luxury products company. The company operates through Wines and Spirits; Fashion and Leather Goods; Perfumes and Cosmetics; Watches and Jewelry; Selective Retailing; and Other Activities business groups. The company offers champagnes, wines, and spirits under the Ao Yun, Ardbeg, Belvedere, Bodega Numanthia, Cape Mentelle, Chandon, Château Cheval Blanc, Château d'Yquem, Cheval des Andes, Clos des Lambrays, Clos19, Cloudy Bay, Dom Pérignon, Glenmorangie, Hennessy, Krug, Mercier, Moët & Chandon, Newton, Vineyard, Ruinart, Terrazas de los Andes, Veuve Clicquot, and Volcan de mi Tierra brands. It also provides fashion and leather products under the Berluti, Celine, Christian Dior, Emilio Pucci, Fendi, Givenchy, Kenzo, Loewe, Loro Piana, Louis Vuitton, Marc Jacobs, Moynat, Nicholas Kirkwood, Pink Shirtmaker, and Rimowa brands. In addition, the company offers perfumes and cosmetics under the Acqua di Parma, Benefit Cosmetics, Fenty Beauty by Rihanna, Fresh, Parfums Givenchy, Guerlain, Kat Von D Beauty, Kenzo Parfums, Maison Francis Kurkdjian, Make Up For Ever, Marc Jacobs Beauty, Parfums Christian Dior, and Perfumes Loewe brands; watches and jewelry under the Bvlgari, Chaumet, Fred, Hublot, TAG Heuerand Zenith brands; and custom-designed yachts under the Feadship brand name. Further, it provides daily newspapers under the Les Échos- Investir, Le Parisien- Aujourd’hui en France, the Royal Van Lent- Feadship, La Samaritaine, and the Cova pastry shop brands; and selective retailing products under the DFS, La Grande Epicerie de Paris, Le Bon Marché Rive Gauche, Sephora, and Starboard Cruise brands. Additionally, it operates Cheval Blanc, a collection of hotels. As of December 31, 2018, the company operated 4,592 stores worldwide. The company was incorporated in 1923 and is headquartered in Paris, France.
Details
| Name: | LVMH Moët Hennessy - Louis Vuitton, Société Européenne |
| MC | |
| Exchange: | ENXTPA |
| Founded: | 1923 |
| €175,560,327,168 | |
| 502,894,091 | |
| Website: | http://www.lvmh.com |
| Address: |
LVMH Moët Hennessy - Louis Vuitton, Société Européenne 22, Avenue Montaigne, Paris, Ile-de-France, 75008, France |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| ENXTPA | MC | Common Shares | Euronext Paris | FR | EUR | 03. Nov 1987 | |
| OTCPK | LVMH.F | Common Shares | Pink Sheets LLC | US | USD | 03. Nov 1987 | |
| DB | MOH | Common Shares | Deutsche Boerse AG | DE | EUR | 03. Nov 1987 | |
| XTRA | MOH | Common Shares | XETRA Trading Platform | DE | EUR | 03. Nov 1987 | |
| LSE | 0HAU | Common Shares | London Stock Exchange | GB | EUR | 03. Nov 1987 | |
| SWX | MC | Common Shares | SIX Swiss Exchange | CH | CHF | 03. Nov 1987 | |
| BIT | LVMH | Common Shares | Borsa Italiana | IT | EUR | 03. Nov 1987 | |
| WBAG | MC | Common Shares | Wiener Boerse AG | AT | EUR | 03. Nov 1987 | |
| BMV | MC N | Common Shares | Bolsa Mexicana de Valores | MX | MXN | 03. Nov 1987 | |
| BATS-CHIXE | MCP | Common Shares | BATS 'Chi-X Europe' | GB | EUR | 03. Nov 1987 | |
| OTCPK | LVMU.Y | ADR EACH EACH CNV INTO 0.2 ORD EUR0.30 | Pink Sheets LLC | US | USD | 24. Feb 2003 | |
| DB | MOHF | ADR EACH EACH CNV INTO 0.2 ORD EUR0.30 | Deutsche Boerse AG | DE | EUR | 24. Feb 2003 | |
| ENXTPA | MCNV | EUR0.30 (RFD 01/01/2019) | Euronext Paris | FR | EUR | 02. Jan 2019 |
Number of employees
Current staff
Industry
| Apparel, Accessories and Luxury Goods | |
| Consumer Durables |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/04/23 20:50 |
| End of day share price update: | 2019/04/23 00:00 |
| Last estimates confirmation: | 2019/04/23 |
| Last earnings filing: | 2019/02/14 |
| Last earnings reported: | 2018/12/31 |
| Last annual earnings reported: | 2018/12/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.
