Could Alcohol Go the Way of Tobacco?

Line chart with 3 lines.
The chart has 1 X axis displaying Time. Data ranges from 2008-03-31 00:00:00 to 2024-03-13 00:00:00.
The chart has 1 Y axis displaying values. Data ranges from 9.39092925822501 to 31.1595610130544.
End of interactive chart.

Source: Bloomberg as of 3/15/24. Note: Average FY2 multiples (i.e. 2025 consensus for latest data points). Spirits includes Diageo, Pernod Ricard, Brown Forman; Beer includes Anheuser-Busch, Molson Coors, Heineken; Tobacco includes Altria, British American Tobacco, and Philip Morris.