Company Valuation: Alibaba Group Holding Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 4,027,830 1,853,787 1,800,888 1,310,939 2,215,816 2,090,181 - -
Change - -53.98% -2.85% -27.21% 69.03% -5.67% - -
Enterprise Value (EV) 1 3,845,890 1,805,233 1,769,156 1,233,590 2,265,198 1,894,193 1,893,203 1,829,514
Change - -53.06% -2% -30.27% 83.63% -16.38% -0.05% -3.36%
P/E ratio 27.2x 30.3x 25.6x 16.7x 17.9x 23.5x 21.9x 16.5x
PBR 4.35x 1.98x 1.87x 1.35x 2.29x 1.98x 1.82x 1.63x
PEG - -0.5x 1.2x 1.2x 0.3x -0.9x 2.97x 0.5x
Capitalization / Revenue 5.62x 2.17x 2.07x 1.39x 2.22x 2.02x 1.82x 1.64x
EV / Revenue 5.36x 2.12x 2.04x 1.31x 2.27x 1.83x 1.65x 1.43x
EV / EBITDA 19.5x 11.4x 10.1x 6.44x 11.2x 15.4x 10.8x 7.91x
EV / EBIT 42.9x 25.9x 17.6x 10.9x 16.1x 32.5x 18.5x 12.6x
EV / FCF 20x 18.3x 10.3x 7.9x 30.7x 35x 31.6x 22.9x
FCF Yield 5% 5.48% 9.7% 12.7% 3.26% 2.86% 3.17% 4.37%
Dividend per Share 2 - - - 12.02 14.34 7.19 7.581 7.45
Rate of return - - - 2.3% 1.49% 0.79% 0.83% 0.81%
EPS 2 54.7 22.74 27.46 31.24 53.59 39.01 41.89 55.35
Distribution rate - - - 38.5% 26.8% 18.4% 18.1% 13.5%
Net sales 1 717,289 853,062 868,687 941,168 996,347 1,032,729 1,148,994 1,278,093
EBITDA 1 196,842 158,205 175,710 191,668 202,325 123,288 174,663 231,193
EBIT 1 89,678 69,638 100,351 113,350 140,905 58,302 102,326 145,005
Net income 1 150,308 61,959 72,509 79,741 129,470 93,215 104,015 130,780
Net Debt 1 -181,940 -48,554 -31,732 -77,349 49,382 -195,988 -196,978 -260,667
Reference price 2 1,485.67 689.78 701.89 522.95 959.53 915.43 915.43 915.43
Nbr of stocks (in thousands) 2,711,119 2,687,500 2,565,752 2,506,837 2,309,279 2,283,289 - -
Announcement Date 13/5/21 26/5/22 18/5/23 14/5/24 15/5/25 - - -
1CNY in Million2CNY
Estimates

P/E ratio, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
23.46x1.83x15.36x0.79% 308B
8.43x1x4.04x-.--% 136B
106.07x8.28x44.85x-.--% 130B
36.47x1.73x15.62x-.--% 80.04B
-40.94x0.88x340.45x-.--% 66.37B
24.36x4.31x14.01x1.12% 49.02B
21.34x5.84x14.18x - 32.21B
6.74x0.2x2.07x4.09% 7B
19.85x6.23x10.83x3.03% 5.13B
26.93x3.4x15.27x-.--% 5.08B
Average 23.27x 3.37x 47.67x 1% 81.84B
Weighted average by Cap. 29.91x 2.96x 44.26x 0.43%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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