Stock Analysis on Net
Stock Analysis on Net

Altria Group Inc. (NYSE:MO)

Enterprise Value to EBITDA (EV/EBITDA)

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Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)

Altria Group Inc., EBITDA calculation

US$ in millions

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12 months ended: Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Net earnings (losses) attributable to Altria 4,467  (1,293) 6,963  10,222  14,239 
Add: Net income attributable to noncontrolling interest (13) (5) 4  5  5 
Add: Income tax expense 2,436  2,064  2,374  (399) 7,608 
Earnings before tax (EBT) 6,890  766  9,341  9,828  21,852 
Add: Interest expense 1,223  1,322  697  727  754 
Earnings before interest and tax (EBIT) 8,113  2,088  10,038  10,555  22,606 
Add: Depreciation and amortization 257  226  227  209  204 
Earnings before interest, tax, depreciation and amortization (EBITDA) 8,370  2,314  10,265  10,764  22,810 

Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).

Item Description The company
EBITDA To calculate EBITDA analysts start with net earnings. To that earnings number, interest, taxes, depreciation, and amortization are added. EBITDA as a pre-interest number is a flow to all providers of capital. Altria Group Inc. EBITDA decreased from 2018 to 2019 but then increased from 2019 to 2020 not reaching 2018 level.

Enterprise Value to EBITDA Ratio, Current

Altria Group Inc., current EV/EBITDA calculation, comparison to benchmarks

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Selected Financial Data (US$ in millions)
Enterprise value (EV) 117,049 
Earnings before interest, tax, depreciation and amortization (EBITDA) 8,370 
Valuation Ratio
EV/EBITDA 13.98
Benchmarks
EV/EBITDA, Competitors1
Coca-Cola Co. 23.19
Mondelēz International Inc. 17.67
PepsiCo Inc. 21.41
Philip Morris International Inc. 14.70
EV/EBITDA, Sector
Food, Beverage & Tobacco 18.61
EV/EBITDA, Industry
Consumer Staples 18.69

Based on: 10-K (reporting date: 2020-12-31).

1 Click competitor name to see calculations.

If the company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.
Otherwise, if the company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.

Enterprise Value to EBITDA Ratio, Historical

Altria Group Inc., historical EV/EBITDA calculation, comparison to benchmarks

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Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Enterprise value (EV)1 105,651  104,984  122,073  134,273  153,976 
Earnings before interest, tax, depreciation and amortization (EBITDA)2 8,370  2,314  10,265  10,764  22,810 
Valuation Ratio
EV/EBITDA3 12.62 45.37 11.89 12.47 6.75
Benchmarks
EV/EBITDA, Competitors4
Coca-Cola Co. 19.66 21.79 21.80 24.51 19.05
Mondelēz International Inc. 15.14 18.69 15.64 16.47 27.04
PepsiCo Inc. 17.17 17.85 14.05 13.65 14.13
Philip Morris International Inc. 12.59 13.77 11.62 14.88 15.70
EV/EBITDA, Sector
Food, Beverage & Tobacco 15.71 19.43 14.75 15.89 13.19
EV/EBITDA, Industry
Consumer Staples 15.65 19.40 13.77 13.35 12.07

Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).

1 See details »

2 See details »

3 2020 Calculation
EV/EBITDA = EV ÷ EBITDA
= 105,651 ÷ 8,370 = 12.62

4 Click competitor name to see calculations.

Valuation ratio Description The company
EV/EBITDA Enterprise value to earnings before interest, tax, depreciation and amortization is a valuation indicator for the overall company rather than common stock. Altria Group Inc. EV/EBITDA ratio increased from 2018 to 2019 but then slightly decreased from 2019 to 2020 not reaching 2018 level.