You can find in the table below the EBITDA multiples for the industries available on the Equidam platform. The data is based on the annual estimate provided by Prof. Aswath Damodaran of the New York University for 2021.

WARNING: use with caution

Originally just a valuation solidity check, multiples have become a popular approach to value young, fast growing companies. The simplicity of this approach leads many practitioners to apply it acritically to compute valuations. This might generate biased results failing to represent the fair value of a company.

November 2021: With the most recent update some significant changes in the market have been accounted for, driven by the COVID-19 pandemic. Read more about that here.

With Equidam, you can seamlessly compute your valuation using 5 methods, 2 of which are properly using these multiples, start now!

If you are a startup or a private company, and you’d still like to only use the multiple approach, you should apply these multiples on the last year of your projections, and discount the result to today.

Industry EBITDA Multiple
Advanced Medical Equipment & Technology 36,66
Advertising & Marketing 12,74
Aerospace & Defense 14,01
Agricultural Chemicals 15,89
Airlines 24,89
Airport Operators & Services 24,89
Aluminum 10,20
Apparel & Accessories 21,19
Apparel & Accessories Retailers 14,29
Appliances, Tools & Housewares 20,35
Auto & Truck Manufacturers 19,79
Auto Vehicles, Parts & Service Retailers 11,89
Auto, Truck & Motorcycle Parts 11,24
Banks * 36,66
Biotechnology & Medical Research 18,61
Brewers 22,59
Broadcasting ** 8,70
     Other Broadcasting 8,14
     Cable Service Providers 10,40
     Radio Broadcasting 8,14
     Television Broadcasting 8,14
Business Support Services ** 17,65
     Call Center Services 17,28
     Cleaning Services 17,28
     Commercial Educational Services 23,88
     Corporate Accounting Services 17,28
     Data Processing Services 17,28
     Exhibition & Conference Services 17,28
     Health, Safety & Fire Protection Equipment 10,52
     Industrial Design Services 17,28
     Industrial Equipment Rental 17,28
     Legal Services 17,28
     Maintenance & Repair Services 17,28
     Management Consulting Services 17,28
     Office Equipment & Supplies Rental 17,28
     Office Furniture 10,52
     Office Supplies 10,52
     Office Supplies Wholesale 10,52
     Pest Control Services 17,28
     Security Services 17,28
     Testing Laboratories 17,28
     Transaction & Payment Services 17,28
     Translation & Interpretation Services 17,28
     Other Business Support Services 17,28
     Other Business Support Supplies 10,52
Business Support Supplies 10,52
Casinos & Gaming 30,70
Closed End Funds 18,31
Coal 5,59
Commercial Printing Services 11,16
Commercial REITs 23,08
Commodity Chemicals 13,32
Communications & Networking 15,55
Computer & Electronics Retailers 14,29
Computer Hardware 18,05
Construction & Engineering 8.22
Construction Materials 13,58
Construction Supplies & Fixtures 10,90
Consumer Lending * 19,57
Consumer Publishing 11,16
Corporate Financial Services * 19,48
Courier, Postal, Air Freight & Land-based Logistics 13,20
Department Stores 12,76
Discount Stores 13,45
Distillers & Wineries 22,59
Diversified Chemicals 12,96
Diversified Industrial Goods Wholesalers 10,24
Diversified Investment Services 18,31
Diversified Mining 10,20
Diversified REITs 23,08
Drug Retailers 14,29
Electric Utilities 10,76
Electrical Components & Equipment 20,35
Electronic Equipment & Parts 20,35
Employment Services 17,28
Entertainment Production 26,54
Environmental Services & Equipment 14,66
Exchange-Traded Funds 18,31
Financial & Commodity Market Operators & Service Providers 30,92
Fishing & Farming ** 14,04
     Agricultural Biotechnology 14,11
     Agricultural Consultancy Services 14,11
     Agriculture Support Services 14,11
     Animal Breeding 14,11
     Animal Feed 14,11
     Aquaculture 14,11
     Cattle Farming 14,11
     Coffee, Tea & Cocoa Farming 14,11
     Commercial Fishing 14,11
     Commercial Nurseries 14,11
     Fishing & Farming Wholesale 12,84
     Fur Farming 14,11
     Grain (Crop) Production 14,11
     Hog & Pig Farming 14,11
     Organic Farming 14,11
     Poultry Farming 14,11
     Sheep & Specialty Livestock Farming 14,11
     Sugarcane Farming 14,11
     Vegetable, Fruit & Nut Farming 14,11
     Other Fishing & Farming 14,11
Food Processing 14,14
Food Retail & Distribution ** 9,59
     Beer, Wine & Liquor Stores 9,05
     Food Markets 9,05
     Food Wholesale 12,84
     Supermarkets & Convenience Stores 9,05
     Tobacco Stores 9,05
     Vending Machine Providers 9,05
     Other Food Retail & Distribution 9,05
Footwear 33,75
Forest & Wood Products 10,99
Gold 9,83
Ground Freight & Logistics 10,05
Healthcare Facilities & Services 15,14
Heavy Electrical Equipment 20,35
Heavy Machinery & Vehicles 17,09
Highways & Rail Tracks 17,09
Home Furnishings 15,59
Home Furnishings Retailers 12,33
Home Improvement Products & Services Retailers 12,33
Homebuilding 9,93
Hotels, Motels & Cruise Lines 30,70
Household Electronics 11,50
Household Products 18,64
Independent Power Producers 10,02
Industrial Conglomerates 10,24
Industrial Machinery & Equipment 17,09
Insurance Funds 18,31
Integrated Oil & Gas 9,65
Integrated Telecommunications Services 6,79
Investment Banking & Brokerage Services * 9,71
Investment Holding Companies 18,31
Investment Management & Fund Operators 18,31
Iron & Steel 8,96
IT Services & Consulting 14,01
Leisure & Recreation ** 20,53
     Adventure Sports Facilities & Ski Resorts 20,53
     Amusement Parks and Zoos 20,53
     Golf Courses 20,53
     Guided Tour Operators 20,53
     Gyms, Fitness and Spa Centers 20,53
     Hunting & Fishing 20,53
     Marinas 20,53
     Movie Theaters & Movie Products 20,53
     Museums & Historic Places 20,53
     Professional Sports Venues 20,53
     Public Sport Facilities 20,53
     Theatres & Performing Arts 20,53
     Travel Agents 20,53
     Other Leisure & Recreation 20,53
Life & Health Insurance 8,59
Managed Healthcare 10,85
Marine Freight & Logistics 11,54
Marine Port Services 11,54
Medical Equipment, Supplies & Distribution 27,02
Mining Support Services & Equipment 10,20
Miscellaneous Specialty Retailers 14,29
Multiline Insurance & Brokers 9,33
Multiline Utilities 10,76
Mutual Funds 18,31
Natural Gas Utilities 10,76
Non-Alcoholic Beverages 19,29
Non-Gold Precious Metals & Minerals 9,83
Non-Paper Containers & Packaging 10,83
Office Equipment 10,52
Oil & Gas Drilling 12,81
Oil & Gas Exploration and Production 6,11
Oil & Gas Refining and Marketing 9,22
Oil & Gas Transportation Services 9,22
Oil Related Services and Equipment 12,81
Online Services ** 44,21
     Content & Site Management Services 26,30
     E-commerce & Marketplace Services 44,21
     Internet Gaming 44,21
     Internet Security & Transactions Services 44,21
     Search Engines 44,21
     Social Media & Networking 44,21
     Other Online Services 44,21
Paper Packaging 10,83
Paper Products 10,99
Passenger Transportation, Ground & Sea 13,20
Pension Funds 18,31
Personal Products 27,02
Personal Services ** 18,02
     Accounting & Tax Preparation 17,28
     Child Care & Family Services 17,28
     Consumer Goods Rental 17,28
     Consumer Repair Services 17,28
     Funeral Services 17,28
     General Education Services 23,88
     Personal Care Services 17,28
     Personal Legal Services 17,28
     Other Personal Services 17,28
Pharmaceuticals 15,07
Phones & Handheld Devices 16,69
Professional Information Services 32,31
Property & Casualty Insurance 9,57
Real Estate Rental, Development & Operations 9,48
Real Estate Services 20,78
Recreational Products 20,53
Reinsurance 11,42
Renewable Energy Equipment & Services 15,68
Renewable Fuels 15,68
Residential REITs 23,08
Restaurants & Bars 22,80
Semiconductor Equipment & Testing 22,86
Semiconductors 17,81
Shipbuilding 11,54
Software 30,92
Specialized REITs 23,08
Specialty Chemicals 15,89
Specialty Mining & Metals 10,20
Textiles & Leather Goods 21,19
Tires & Rubber Products 8,39
Tobacco 10,35
Toys & Children’s Products 20,53
UK Investment Trusts 18,31
Uranium 10,02
Water & Related Utilities 12,78
Wireless Telecommunications Services 6,95

*For these industries, a higher level business sector multiple is applied

**For these industries, a lower activity-based level is available


With Equidam, you can seamlessly compute your valuation using 5 methods, 2 of which are properly using these multiples, start now!

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