The forward price-to-earnings (P/E) ratio - share price divided by the consensus of analysts' forecasts for earnings per share (EPS) - is probably the single most popular valuation measure used by investors.
When former chief executive Paul Walsh left Diageo (LSE: DGE) (NYSE: DEO.US) last summer, he must have thought that his final deal - the acquisition of a 25% stake in India's largest liquor-maker, United Spirits Limited, had succeeded.
diageo The distiller is struggling in emerging markets due to currency volatility and weak consumer confidence. Political instability in Thailand also lowered trading confidence across multiple markets in Asia, where sales plummeted 19%.
Diageo has been a major player on the M&A scene, as it seeks to turbocharge its global presence. The drinks ace forked out a huge �604m in the 12 months ending June 2013, up more than a third from the previous year, and has racked up a number of ...