LVMH (MC.PA): analysis in plain words
Is LVMH cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
LVMH (MC.PA) is listed on Euronext Paris and we classify it in luxury and apparel. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against LVMH according to those figures, and the questions people ask most about the stock. No buy or sell tips.
LVMH (MC.PA) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | €416.25 | Last price on November 4, 2026 |
| P/E ratio (TTM) | 19.0x | Price over earnings per share |
| Revenue growth | -2.9% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | 13.7% | Profit for every 100 of sales |
| Net debt / EBITDA | 1.2x | Years of operating profit to repay debt |
| Dividend yield | 3.24% | Annual dividend over price |
| Market cap | €205.2 billion | What the stock market values it at |
The LVMH figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any MC.PA figure that is not available shows as N/A: we do not estimate it.
How LVMH makes money
LVMH reports five business groups: Fashion & Leather Goods (Louis Vuitton, Dior, Celine), its biggest revenue source; Wines & Spirits (Moët, Hennessy); Perfumes & Cosmetics; Watches & Jewelry (Tiffany, Bulgari, TAG Heuer); and Selective Retailing (Sephora, DFS). It sells worldwide, with Asia, the US and Europe as its key markets.
Over the last 12 months, LVMH brought in revenue of €79.6 billion. For every 100 it sells, LVMH keeps 66.4 after the direct cost of what it sells (gross margin) and 22.5 after all operating costs (operating margin). With 196,647 full-time employees, that is about €405,000 of revenue per employee.
LVMH against its sector
To know whether a LVMH figure is high or low you have to put it next to similar companies. This table compares LVMH with the median of the 6 luxury and apparel companies Fintols covers, with data as of November 4, 2026.
| Figure | LVMH | luxury and apparel median |
|---|---|---|
| P/E | 19.0x | 23.7x (6) |
| Revenue growth | -2.9% | +1.6% (7) |
| Net margin | 13.7% | 8.5% (7) |
| Dividend yield | 3.24% | 1.66% (7) |
| Net debt / EBITDA | 1.2x | 1.2x (7) |
In short, against the typical luxury and apparel company, LVMH trades on a lower P/E, grows more slowly and earns a wider margin. By size, LVMH ranks number 1 of 6 luxury and apparel companies quoted in EUR on Fintols.
The bull case for LVMH
These are the strengths in the LVMH figures as of November 4, 2026:
- LVMH generates real cash: €11.5 billion of free cash flow over 12 months, 5.6% of its stock market value.
- For income seekers, LVMH pays a dividend yielding 3.24% at today's price, using 59% of its profit to fund it.
- LVMH earns 16.6% a year on its shareholders' money (return on equity).
The main risk for LVMH
LVMH stock sits 36% below its 52-week high (€654.70): the market has cut its expectations, and it is worth understanding why first.
On top of that: lVMH sales fell 2.9% in the latest quarter against the same quarter a year earlier: if the decline drags on, profit usually follows.
And, like the rest of luxury and apparel, LVMH is exposed to spending by wealthier customers, especially in China and the US, cooling down.
Frequently asked questions about LVMH
Is it a good time to buy LVMH stock?
Fintols does not tell you whether to buy or sell LVMH, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, LVMH stock trades at €416.25, 36% below its 52-week high (€654.70) and 11% above its low (€375.65). Its P/E is 19.0x against a luxury and apparel median of 23.7x, and 17.2x on the earnings analysts expect over the next 12 months. With LVMH, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does LVMH pay a dividend?
Yes. As of November 4, 2026, LVMH pays €13.00 per share a year, which at today's price is a yield of 3.24%. It uses 59% of its profit to pay it, which leaves room to keep paying it if profit dips. Its average dividend yield over the last five years is 1.75%. The luxury and apparel median on Fintols is 1.66%.
Is LVMH stock expensive?
It depends on what you compare it with. On P/E, LVMH trades at 19.0x its last 12 months of earnings: cheaper than the luxury and apparel median (23.7x). Including its debt, LVMH is valued at 11.2x its EBITDA (EV/EBITDA). A high P/E alone does not make LVMH expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are LVMH's competitors?
On Fintols we compare LVMH with Inditex, Hermès and EssilorLuxottica, which are also in luxury and apparel. As of November 4, 2026, Inditex is worth €184.0 billion and trades on a P/E of 28.0; Hermès is worth €143.7 billion and trades on a P/E of 31.9; EssilorLuxottica is worth €86.7 billion and trades on a P/E of 35.3. Each has a side-by-side comparison with LVMH below.
LVMH competitors
- Inditex (ITX) analysis · LVMH vs Inditex comparison
- Hermès (RMS.PA) analysis · LVMH vs Hermès comparison
- EssilorLuxottica (EL.PA) analysis · LVMH vs EssilorLuxottica comparison
To understand LVMH better
- Economic Moats Explained: From Warren Buffett to AI
- Dividend Growth Investing: FCF Payout Ratio and Compounding
More companies like LVMH: luxury and apparel stocks and Euro Stoxx 50 companies. Open the full MC.PA analysis with its valuation and scenarios. Educational content about LVMH, not investment advice.