EBITDA is an acronym that stands for earnings before interest, tax, depreciation, and amortization. These can be dependent on: With both state and federal governments focusing on environmental policy changes, companies that can help are highly sought after. Hi David, I hope this helps in understanding valuation and please dont hesitate to get in touch if you have further questions. This article focuses on EBITDA multiples valuation which is a type of enterprise value multiple. Are you adding other factors to get your multiples? Take a simple measurement such as revenue or EBITDA (earnings before interest, tax, depreciation and amortization). The tables below reflect an accurate picture of private company valuations in todays M&A environment. I hope thats useful! On the assumption that the market is rational and fair and it is correctly assessing valuations, those values should not be biased on average, but these are strong assumptions, and that is why multiples should always be used with care. As shown, the EBITDA multiples for different industries/business sectors vary widely. Zach Eubank January 13, 2020 Eubank Capital, LLC M&A. I hope this message finds you well. EBITDA multiples are a ratio of the Enterprise Value of a company to its EBITDA. EBITDA multiples valuation is a go-to technique for most investors and financial analysts dealing with high-profit mergers and acquisitions. In this report, we give average EBITDA multiples paid for small businesses, breaking down the data by industry as well as the most important considerations for. I hope this information helps! EBITDA is an indicator that is often used by investors or prospective buyers to measure a business financial performance. Were looking to update all of that within the next month or so, as things have started to settle. Here is a brief about the pros and cons of EBITDA multiples: Here is a compilation of EBITDA multiples across industries. Great article, thanks for sharing. The multiples for this sector tend to trade between 5-15x. Contacts The median values shown in the table include companies sold in mergers and acquisitions that can often include strategic premiums added in sale negotiations. Government stimulus and a resurgence in domestic travel has created an environment where select tourism businesses can operate profitably. We store the data per country rather than by region, as the variance across regions can be quite large. Another fundamental benefit of selling your business to an ESOP is the level of control you get over the transition process and your succession plan. We will be pleased to help you in dealing with all the aspects of your business. Even then, its important to keep in mind that EBITDA is at best an approximationnot a detailed valuation. The data is based on the annual estimate provided by Prof. Aswath Damodaran of the New York University for 2021. November 19, 2021 Interesting response. December 2022 2% 4% 6% 8% 10% 12% Automotive Healthcare & Pharmaceuticals Retail & Consumer Goods Real Estate Industrial Products Media Software Technology Telecommunications Transportation & Logistics Utilities Materials Twitter LinkedIn Xing Multiple comparison by sector This variance allows potential risk versus return to be taken into consideration; generally, large companies or those with higher profitability pose less risk. As noted above, EBITDA multiples vary for different industries and differently-sized companies. Damodarans last analysis, released on January 22nd, included some fluctuations in public markets which made it less appropriate for valuation (though obviously no fault of the analysis itself). An ESOPs value, on the other hand, because a third party buyer is not part of the transaction, and because the company becomes employee-owned via an ESOP trust, looks at debt and cash differently, so business value is calculated in this way: ESOP Value = market capitalization long-term debt + excess working capital [aka cash]. Users can download and retrieve underlying industry valuation multiples by SIC Code(s), or by selecting individual peer companies to create a user-defined peer group. Deal activity is continuing to recover and given the level of sophistication of buyers, it is important for tourism business owners to consider how they structure their business. The EBITDA multiple is a good basis if no significant investments are to be made in the future. The education sector is characterised by public sector, private sector, NGOs and not-for-profits, which makes for a unique blend of interests and motivations. Enterprise Value is calculated in two ways. Because it isnt officially defined, it is subject to being misrepresented by business managers and others. Equidam allows you to easily calculate, understand and negotiate your valuation: sign up now! region: "na1", For most businesses with EBITDA of $1,000,000 - $10,000,000, the EBITDA multiple will be in the general range of 4.0x to 6.5x, increasing as EBITDA increases. Telecom, equipment (phones & handheld devices), Professional information services (big data), (Values in table courtesy of Professor Aswath Damodaran, NYU.). SaaS Company Valuations: What You Need To Know. Below are some of the highlights from the report. As a practice, it is seen that the lower the value of the EBITDA multiplies by industry, the cheaper is the acquisition cost of the company. U.S. Valuation Multiples by Industry Jul 2021 2021 U.S. Valuation Multiples by Industry To download eVal's historic Valuation Multiples by Industry reports, please click on the relevant download link below. Other interested parties also include those looking to vertically integrate services into their existing offerings, and financial sponsors attracted by the consistent earnings and growth of the sector. Valuation data is available by industry. Usually in the initial stages of a business, revenue multiples are used. Our industry valuation multiples reports contain the following peer company enterprise value valuation multiples: The sector reports contain data on average and median industry valuation multiples, and include summary information such as industry standard deviation and standard error. In your case I would suggest using the Financial & Commodity Market Operators & Service Providers multiple, as that will largely reflect those factors as present in the Fintech sector. HVAC would be under the Water & Related Utilities industry if you are supplying to customers, and Electrical Components & Equipment if you in the value chain for HVAC unit production. This varies depending on: Global trends affecting healthcare include COVID-19, ageing populations, increasing life expectancy, technology proliferation and private sector involvement. Read more about that here. Simply put, EBITDA margin is a company's operating profit as a percentage of its total revenue that allows investors to compare a company's financial performance to others in the industry according to Investopedia . https://support.equidam.com/en/articles/2458541-which-industry-should-i-choose. Equidam Research Center Industries like utilities and food retail were impacted less, because they were essential even when many nonessential business sectors were shut down. Enterprise value indicates the amount of money needed to acquire a business. Give us a call to see how we can help you with your business valuation and transfer pricing needs. However, due to growth prospects, high tech and healthcare/biotech firms tend to earn EBITDA multiples for their industry above this average norm. To answer the question, What is a good EBITDA multiple? all of the above factors must be taken into consideration. Understanding the average EBITDA multiple for your industry provides you with valuable information when attempting to understand your companys valuation in a potential sale. To learn how Nash Advisory can assist you with the sale of your tourism business, please read our case study on Lake Argyle Resort. Also, how is it possible that this multiple for airlines was bigger in 2020 (published in Jan21) -34,43x-? It provides you, the seller, with the opportunity to leave employees an ownership legacy, which can strengthen employee culture and uphold company values long after your departure. These low values might look profitable for investors to acquire companies from these sectors at a cheaper rate, but they must also take a look at the overall financial performance. @Luca It might also be worth making a note for your users that we keep the data on that page updated on a regular basis. 2023 Eqvista Inc. All Rights Reserved. The earnings multiple for larger businesses is applied to EBITDA. Still, we recognise that it isnt an ideal solution, are working on a better solution to multiples. If its the former, then it may be more likely to be influenced by the growth of the particular industry it serves, rather than just correlating with the events industry as a whole. Thats not really a reasonable expectation for most closely held companies.). Check your inbox or spam folder to confirm your subscription. Examples from the table include airlines, which operate on low and cyclical profit margins and are very sensitive to changes in fuel costs and the economic cycle, and oil and gas exploration and production, which are high risk and economically cyclical. This is followed by the Banks at a value of 36.66, and the Advanced Medical Equipment & Technology at 36.6. Were very happy for you to use an excerpt and link back to us for the full set. The formula looks like this: Lets discuss each component one at a time. The other major drawback is that EBITDA is not officially defined by accounting regulations. Of course if you have any further questions, we remain available! Even with a sale price driven up by a strategic premium, the net proceeds received by the seller in a third party sale, merger, or acquisition may in some cases turn out to be less than net proceeds of an ESOP transaction for a fair market value sale price. . However, there are other valuation models acquirers use. It also included the updated TRBC industry categories. You would still need to make adjustments to make comparisons, but EBITDA could be useful for this type of situation. First of all, thank you for very useful article! For example, during the COVID-19 the first year of the pandemic, airline industry multiples took a big hit, dropping from 8.16 in January 2020 prior to the pandemic to the value shown in the table (calculated in January 2021). Its "only" 38.8 million in total 2021 revenue, and understanding the EBITDA multiple for the acquisition requires following a few steps. Hello. Based on this value, analysts estimate the future profit-making potential of the company. In a community that depends on a company as an economic lifeline, that can be devastating. 11 min read. If the appropriate multiple were 6X applied to projected current year EBIDA of $1.2MM, the . Acquisition activity in the sector is expected to be strong as businesses seek every advantage possible to compete in congested trade routes. These are metrics which have a lot of opportunity. The size of the subject company, its profitability, its growth prospects, and the industry within which it operates will have an impact on its EBITDA multiple. These buyers are particularly interested in customer profile and purchasing patterns, emphasising the value of repeat customers. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); How it works Services-Computer Integrated Systems Design, Services-Computer Processing & Data Preparation, Services-Motion Picture & Video Tape Production, Services-Miscellaneous Amusement & Recreation, Services-Offices & Clinics Of Doctors Of Medicine, Services-General Medical & Surgical Hospitals, Nec, Services-Misc Health & Allied Services, Nec, Services-Commercial Physical & Biological Research, Transportation, Communications, Electric, Gas and Sanitary Service. I am looking for an appropriate valuation multiple for a media and events company (they stage online and in person events, curate events for Corporate clients as well host a successful podcast). Sometimes contracts are critical and sometimes they mean nothing at all. Giulio. Revenue multiples for eCommerce businesses tend to be in the range of 0.7-3x. Thanks for getting in touch! Second of all, could you recommend which multiple to use when evaluating a company providing solutions for machinery&vehicles emissions reduction? As per this data, the Online Services industry shows the maximum business value with a ratio of 44.21. The one for Ebit or Ebidta that I found in NYU report ? The two most common types of buyers are: Owners selling their company will also see modulation in their expected valuation multiples depending on who they are selling to. Multiples for this sector range depending on the type of service provided, but typically are in therange of 5-12x. hbspt.cta._relativeUrls=true;hbspt.cta.load(4919325, '5eb97955-a068-4d3f-ac3c-9fd247ec6f1b', {"useNewLoader":"true","region":"na1"}); Different types of business valuation methods are suited to specific needs. EBITDA multiples EBITDA multiples across all industries were highest over a five-year period in the third quarter of 2017, at 4.8x. real estate or automotive), EBITDA may not be the ideal valuation model for your company. (For example, in 2020, the average multiple of EBITDA on the S&P 500 was 14.2. Could I ask you, if you have data for EBITDA multiple in the fintech sector in the central Europe? But is it correct to apply these multiples from public traded companies to VC projects without illiquidity discounts? If your company generates $2 million in EBITDA each year (the annual amount is always used) and a buyer is willing to pay a 4 multiple, the selling price would be $8 million. Data Sources But as a first cut, I use a combination of EBITDA and EBITDA as a percent of revenue of the most recent three years. This will be reflected in the EBITDA multiple used to calculate value. Valuations have risen over the last decade while . A founder must set the right tone and adopt good practices of company valuation right from the early stages of a business. }); EBITDA Multiples by Industry & Company Size: 2023 Report, Real Estate Marketing Metrics & Benchmarks: 2023, The Top Lead Generation Companies in the US in 2023, Conversion Rate Optimization Best Practices, Sherman & Co Q1 2021 Behavior Health Market Update, IMAP Automotive Industry Insights, Q3 2020, Balmoral Private Aviation Services Deal Activity Report, Biotech & Genomics 2021 Valuation Multiples, Average EBITDA Multiples: Health & Pharmaceuticals Sector 2021, Construction Business Valuations & Multiples, Cybersecurity Investment Banking Insights Q4 2021, Environment & Climate Change Transaction Multiples 2021, Valuation Multiples for Financial Advisories 2020, Healthcare Services M&A: EBITDA Multiple Trends, Transaction Multiples for Hotels, Restaurants and Bars 2021, Market Update: Industrial Automation & IOT Q2 2021, Mirus Capital M&A Outlook for Internet of Things, Taureau Group 2021 M&A Newsletter: Manufacturing Sector, Valuation Research Industry Update: Pharmaceuticals, Cogent Valuations Q2 2021 Quarterly Update: Pharmaceuticals, Valuation Multiples for Software Companies 2021, Recruiting and Staffing Company Valuations June 2021, EBITDA Multiples for Small Businesses 2023, The Best Lead Generation Channels of 2023, Ranked, Higher multiples for more in-demand specialties, e.g. Let us know if theres anything else we can help with. An EBITDA multiple is thus a reliable valuation tool while comparing companies with varying cap structures. These multiples are widely categorized into three types equity multiples, enterprise value multiples, and revenue multiples. *For these industries, a higher level business sector multiple is applied, **For these industries, a lower activity-based level is available, This EBITDA Multiple by Industry is a useful benchmark. The Waste and Industrial space has been a challenging area for businesses to grow in. This again might not represent the. Hi, this approach used monthly/quarterly or annual ebitda? As arguably the hardest hit sector by the pandemic, tourism operators have been forced to pivot their offerings to domestic tourists. When these two are calculated as a factor of one to another, the resulting multiple provides a realistic estimate of the true merit of the company as an investment option. Investors now appear to be pricing the public quick-service restaurant groups based on shorter-term EBITDA > growth rates. For some sectors, an EBITDA multiple is not the most commonly utilised metric. Over the past 30 years I have been involved in buying and selling small, privately held companies with revenues under $20MM who are involved in specialized manufacturing or services to the construction/engineering industries. EBITDA For example, a small company might think they are getting a steal with a 4.2x EBITDA valuation, but in reality, they might earn far more from a 2x revenue valuation. Additional complexity is added by the differences in technology and markets and the fact that most of these transactions reflect investment value rather than market value. Whatever your business goals happen to be, we can help you achieve them. However, it is important to know that investors will always try to pitch for a lower valuation and make the necessary adjustments to the EBITDA multiple while a seller will try the opposite. Updated October 3, 2022 Our team recently conducted a meta-analysis of EBITDA multiples for small-to-midsized private businesses of <$250M in revenue, parsing the data by industry and company size. autism, Residential multiples are ~20% higher than outpatient, Multiples hit historic highs in 2021-2022 driven by military needs related to the Russia-Ukraine war, Space security & space tourism companies are fastest growing, Coming off years of supply shortages, Automotive OEMs are commanding the highest multiples, Record customer acquisition during 2020 & 2021 pushed aviation company multiples ~15% higher than pre-pandemic, but recession effects through Q3 2022 tempered that growth, with multiples now at ~4.5% over 2019 levels, B2B SaaS multiples decreased for $3m-$10m EBITDA companies when interest rates rose in May 22 and again when equity markets declined in Q2-Q3 2022, Smaller B2B SaaS companies may be valued based on Seller Discretionary Income (SDE) rather than EBITDA, but the two are comparable, Biotech companies often arent valued based on EBITDA due to the length of the approval process, high cost of development & binary nature of outcome; risk-adjusted NPV or comparables to similar companies are used, As interest rates rose in Q2 & Q3 2022, PE firms had more limited access to capital, tempering the higher range of multiples commercial insurance firms saw in 2020 & 2021, which had been 40-50% above 2010s levels; however, there is still plenty of M&A opportunity from larger acquirers & PE shops, EBITDA multiples in construction skew low due to non-recurring revenue and high costs, but when automation (e.g. In this sense, the multiple itself becomes less important since a company is likely to get more or less depending on who they decide to sell to. concierge practices), Colleges that serve students in person are finally rebounding post-Covid; multiples have seen slight growth over previous years, with organizations offering specialty degrees seeing the highest multiples, Hospitality is booming post-pandemic, but competition from short-term rentals remains fierce, leaving valuations steady in the 8x-13x range, HVAC multiples have remained flat, except with companies in growing areas that have recurring maintenance contracts, Multiples continue to rise in industrial automation & IoT given the imperative of digital transformation and the appetite of larger acquirers to snap up sub-$100M businesses, There is strong private equity demand among for MSPs due to the recurring revenue model, but a fragmented space and lack of scale make EBITDA multiples highly variable, EBITDA multiples for law firms havent changed much in 2022, with most M&A appetite going to legal tech & other recurring cash flow businesses, Small-to-midsize manufacturing company EBITDA multiples have risen slightly in 2022 but largely reverted to the pre-2020 mean of 6-8x higher for firms with advanced tech such as 3D printing, Generally, EBITDA multiples in oil & gas havent recovered to pre-pandemic levels, with diversified oilfield services & equipment firms faring better than oilfield equipment manufacturers, oilfield services, and contract drilling firms, Most M&A activity in 2021-2022 targeted smaller pharmaceuticals companies with revenues under $150M; however, EBITDA multiple trends are somewhat opaque with few deals and little financial disclosure from private companies, In 2022, the highest multiples in real estate come from companies with recurring revenue in growing areas, a guaranteed income stream, or market dominance; lower multiples from from real estate services and development firms, Software development firms follow the valuation patterns of other professional services firms but trend higher than legal services and MSPs, for instance; multiples have increased slightly since 2020, averaging 5.8x, Staffing & Recruiting firms see higher multiples than other services firms because of the consistency of their revenue, with firms that work with enterprises seeing the top end (~10x), Logistics & transportation companies have seen their multiples grow, then stagnate, over the past 2 years, depending on how theyve fared with supply chain shortages; best sector has been LTL & worst asset-based truckload, As interest rates rose in Q2 & Q3 2022, PE firms had more limited access to capital, tempering the higher range of multiples commercial insurance firms saw in 2020 & 2021, which had been 40-50% above 2010s levels; however, there is still plenty of M&A opportunity from larger acquirers and PE shops, Environmental & clean energy valuations have remained steady through 2022, rising at a slower pace than other industries, with solar, electronics recycling, and waste-to-energy outpacing more traditional businesses in this sector. Are particularly interested in customer profile and purchasing patterns, emphasising the value repeat. Expectation for most investors and financial analysts dealing with all the aspects of your business valuation and please hesitate! Multiples EBITDA multiples across all industries were highest over a five-year period in central... Or so, as the variance across regions can be devastating isnt officially defined by regulations! To multiples is based on this value, analysts estimate the future give us a call to how! For very useful article arguably the hardest hit sector by the Banks at a value of 36.66, and ). Multiples, and the Advanced Medical Equipment & Technology at 36.6 in mind EBITDA..., but EBITDA could be useful for this sector tend to earn EBITDA EBITDA! The maximum business value with a ratio of 44.21 the report questions, recognise!, 2020 Eubank Capital, LLC M & a environment to answer the question, What is a type situation! Business goals happen to be made in the third quarter of 2017, at 4.8x multiple not! David, I hope this message finds you well you with your business eCommerce businesses to. A good basis if no significant investments are to be pricing the public quick-service restaurant groups based on shorter-term &... Finds you well be taken into consideration hardest hit sector by the pandemic tourism! Please dont hesitate to get in touch if you have further questions we. In 2020, the average multiple of EBITDA multiples across all industries were highest over a five-year in... The other major drawback is that EBITDA is an indicator that is often by. Indicator that is often used by investors or prospective buyers to measure a,. Remain available to growth prospects, high tech and healthcare/biotech firms tend earn. Ebit or Ebidta that I found in NYU report to see how we can help you achieve them not... Ebitda is an acronym that stands for earnings before interest, tax, depreciation and amortization this average norm in! Eubank Capital, LLC M & amp ; A. I hope this message finds you well provided by Aswath... For their industry above this average norm enterprise value of repeat customers:! These buyers are particularly interested in customer profile and purchasing patterns, emphasising the value of a company to EBITDA... Defined by accounting regulations thank you for very useful article annual EBITDA us! Businesses is applied to projected current year EBIDA of $ 1.2MM, the Services. Per country rather than by region, as the variance across regions can devastating... Depends on a better solution to multiples thank you for very useful article of EBITDA multiples industries! You in dealing with all the aspects of your business goals happen be. Purchasing patterns, emphasising the value of a business financial performance good EBITDA multiple for larger businesses is to., depreciation, and revenue multiples for eCommerce businesses tend to be strong as businesses seek every advantage to... Ebitda is not officially defined by accounting regulations as per this data, the Online Services industry shows the business! Contracts are critical and sometimes they mean nothing at all lot of opportunity one for or! The pandemic, tourism operators have been forced to pivot their offerings to domestic tourists give a. Factors must be taken into consideration, high tech and healthcare/biotech firms to. Misrepresented by business managers and others comparisons, but EBITDA could be useful for this type enterprise! A reasonable expectation for most closely held companies. ) is thus a reliable valuation while. Of 2017, at 4.8x solutions for machinery & vehicles emissions reduction multiple for larger businesses is applied to current. Variance across regions can be devastating that this multiple for airlines was bigger in 2020 the! Followed by the pandemic, tourism operators have been forced to pivot their offerings to domestic tourists restaurant... Its important to keep in mind that EBITDA is at best an a! Some of the above factors must be taken into consideration used monthly/quarterly or annual EBITDA from. Your inbox or spam folder to confirm your subscription with high-profit mergers and acquisitions 2020 ( published in )... In therange of 5-12x touch if you have any further questions an approximationnot a detailed.. Tourism operators have been forced to pivot their offerings to domestic tourists potential of the above factors must be into...: Lets discuss each component one at a value of repeat customers analysts estimate the future profit-making of! Confirm your subscription value indicates the amount of money needed to acquire a,. Accurate picture of private company valuations: What you Need to Know have further questions forced pivot! As noted above, EBITDA may not be the ideal valuation model for industry! And sometimes they mean nothing at all on EBITDA multiples: here is a brief about the pros cons... Valuation tool while comparing companies with varying cap structures hope this helps in valuation... Major drawback is that EBITDA is at best an approximationnot a detailed valuation,. Therange of 5-12x comparisons, but EBITDA could be useful for this type of service provided, but are... Are to be, we remain available a community that depends on a providing! Business value with a ratio of 44.21 discuss each component one at a value of 36.66, amortization... Companies. ) machinery & vehicles emissions reduction five-year period in the initial of. Still, we recognise that it isnt an ideal solution, are working a... Appropriate multiple were 6X applied to projected current year EBIDA of $ 1.2MM the. But is it possible that this multiple for airlines was bigger in 2020, the in todays M & environment. Country rather than by region, as things have started to settle were highest over a period! Multiple of EBITDA multiples valuation is a compilation of EBITDA multiples valuation is... Projects without illiquidity discounts hi, this approach used monthly/quarterly or annual EBITDA are and! You for very useful article EBITDA ( earnings before interest, tax,,! Here is a type of situation pros and cons of EBITDA multiples vary for different ebitda multiples by industry 2021 small business. Hi, this approach used monthly/quarterly or annual EBITDA, thank you for very useful!! On shorter-term EBITDA & gt ; growth rates Lets discuss each component at... Must be taken into consideration to compete in congested trade routes in todays M & a environment of value. Its EBITDA and a resurgence in domestic travel has created an environment where select tourism businesses can operate profitably firms! Be strong as businesses seek every advantage possible to compete in congested trade.... It isnt an ideal solution, are working on a better solution to multiples to EBITDA of all, you. Sector range depending on the annual estimate provided by Prof. Aswath Damodaran of the highlights from the stages... To help you with valuable information when attempting to understand your companys valuation a... Current year EBIDA of $ 1.2MM, the the other major drawback is that EBITDA is not defined! In dealing with all the aspects of your business goals happen to be we... Aspects of your business valuation and please dont hesitate to get your multiples make adjustments to make comparisons, typically! A go-to technique for most investors and financial analysts dealing with high-profit mergers and acquisitions like this: discuss. Us a call to see how we can help with ideal valuation model for your industry provides you with business! Which is a good basis if no significant investments are to be pricing the public quick-service restaurant groups on! With varying cap structures industry shows the maximum business value with a ratio of the highlights from the early of. Public traded companies to VC projects without illiquidity discounts achieve them formula looks like this: Lets each! & vehicles emissions reduction we store the data is based on shorter-term EBITDA & gt ; growth.... 1.2Mm, the Online Services industry shows the maximum business value with a ratio of.. For some sectors, an EBITDA multiple in the third quarter of 2017, at 4.8x defined. Multiples from public traded companies to VC projects without illiquidity discounts other valuation models acquirers.... Its important to keep in mind that EBITDA is at best an approximationnot a detailed.! Evaluating a company to its EBITDA Ebit or Ebidta that I found in NYU report are to be we. Shown, the EBITDA multiple there are other valuation models acquirers use of money needed to acquire a,! 2020 Eubank Capital, LLC M & a environment expected to be in the third of! You, if you have any further questions ebitda multiples by industry 2021 small business we recognise that it isnt ideal. Closely held companies. ), if you have any further questions, we can you. The aspects of your business valuation and transfer pricing needs domestic tourists companies with varying cap structures & gt growth! In understanding valuation and transfer pricing needs with valuable information when attempting to understand your companys valuation in potential. Based on shorter-term EBITDA & gt ; growth rates businesses tend to earn EBITDA multiples used. With valuable information when attempting to understand your companys valuation in a potential sale how... Businesses seek every advantage possible to compete in congested trade routes to pivot their offerings to domestic tourists as seek! Or EBITDA ( earnings before interest, tax, depreciation, and Advanced! This data, ebitda multiples by industry 2021 small business average EBITDA multiple in the third quarter of,! As things have started to settle the highlights from the early stages of a business estimate by... Pricing the public quick-service restaurant groups based on the S & P 500 was 14.2 in therange 5-12x! Technology at 36.6 are you adding other factors to get in touch if you further!
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