Company Valuation: AllianceBernstein Holding L.P.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 4,823 3,451 3,469 4,207 3,501 3,569 - -
Change - -28.45% 0.53% 21.28% -16.78% 1.92% - -
Enterprise Value (EV) 1 1,943 1,768 2,748 3,583 3,501 3,861 3,668 4,208
Change - -8.99% 55.38% 30.4% -2.28% 10.26% -5% 14.72%
P/E ratio 12.6x 12.8x 13.3x 10x 13x 13.1x 12.3x 13x
PBR - - - - - - - -
PEG - -0.4x -1x 0.2x -0.7x -25.94x 1.82x -2.34x
Capitalization / Revenue 1.09x 0.85x 1.03x 1.19x 0.99x 0.96x 0.9x 0.84x
EV / Revenue 0.44x 0.44x 0.81x 1.02x 0.99x 1.04x 0.93x 0.99x
EV / EBITDA 1.54x 1.74x 2.63x 2.91x - 3.37x 2.96x 4.13x
EV / EBIT 1.6x 1.87x 2.89x 3.14x 2.95x 3.08x 2.67x 3.05x
EV / FCF 1.57x 1.67x 3.28x 2.79x - 2.99x 2.58x 2.11x
FCF Yield 63.7% 59.9% 30.5% 35.8% - 33.4% 38.7% 47.3%
Dividend per Share 2 3.9 2.95 2.69 3.26 3.38 3.527 3.807 4.155
Rate of return 7.99% 8.58% 8.67% 8.79% 8.78% 9.12% 9.85% 10.7%
EPS 2 3.88 2.69 2.34 3.71 2.97 2.955 3.155 2.98
Distribution rate 101% 110% 115% 87.9% 114% 119% 121% 139%
Net sales 1 4,442 4,054 3,372 3,528 3,525 3,700 3,950 4,241
EBITDA 1 1,259 1,014 1,043 1,231 - 1,146 1,241 1,018
EBIT 1 1,214 947.2 951.2 1,140 1,188 1,254 1,376 1,377
Net income 1 385.9 274.2 264.2 423.4 299.8 271.4 289.7 275.1
Net Debt 1 -2,880 -1,682 -721.2 -624.1 - 292 99 639
Reference price 2 48.84 34.37 31.03 37.09 38.48 38.67 38.67 38.67
Nbr of stocks (in thousands) 98,754 100,401 111,797 113,435 90,993 92,284 - -
Announcement Date 2/11/22 2/8/23 2/6/24 2/6/25 2/5/26 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
13.09x1.05x3.36x9.01% 3.57B
19.74x6.76x12.81x4.41% 95.41B
26.79x8.89x13.39x0.8% 87.5B
16.92x4.77x14.66x5.06% 23.94B
10.93x3.97x8.06x5.98% 18.13B
13.85x3.86x13.25x2.94% 17.77B
9.43x9.09x - 10.56% 13.06B
15.68x1.47x5.54x5.14% 13.37B
37.27x - - 2.06% 11.65B
23.72x - - 2.07% 7.88B
Average 18.74x 4.98x 10.15x 4.8% 29.23B
Weighted average by Cap. 20.79x 6.67x 12.37x 3.6%

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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