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EBITDA Multiples by Industry

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You can find in the table below the EBITDA multiples for the industries available on the Equidam platform. These are applied to compute the Terminal value in the DCF method with Multiple and the potential exit value in the VC method.

The data is based on the annual estimate provided by Prof. Aswath Damodaran of the New York University for 2017.

 

Industry EBITDA Multiple
Advanced Medical Equipment & Technology 21.65
Advertising & Marketing 9.48
Aerospace & Defense 14.51
Agricultural Chemicals 12.88
Airlines 7.56
Airport Operators & Services 7.56
Aluminum 8.62
Apparel & Accessories 12.02
Apparel & Accessories Retailers 9.01
Appliances, Tools & Housewares 12.19
Auto & Truck Manufacturers 9.37
Auto Vehicles, Parts & Service Retailers 10.4
Auto, Truck & Motorcycle Parts 8.29
Banks* 21.47
Biotechnology & Medical Research 14.77
Brewers 16.53
Broadcasting** 10.21
     Other Broadcasting 10.04
     Cable Service Providers 10.73
     Radio Broadcasting 10.04
     Television Broadcasting 10.04
Business Support Services** 12.91
     Other Business Support Services 12.98
     Call Center Services 12.98
     Cleaning Services 12.98
     Commercial Educational Services 11.76
     Corporate Accounting Services 12.98
     Data Processing Services 12.98
     Exhibition & Conference Services 12.98
     Industrial Design Services 12.98
     Industrial Equipment Rental 12.98
     Legal Services 12.98
     Maintenance & Repair Services 12.98
     Management Consulting Services 12.98
     Office Equipment & Supplies Rental 12.98
     Pest Control Services 12.98
     Security Services 12.98
     Testing Laboratories 12.98
     Transaction & Payment Services 12.98
     Translation & Interpretation Services 12.98
     Business Support Supplies (NEC) 9.12
     Health, Safety & Fire Protection Equipment 9.12
     Office Furniture 9.12
     Office Supplies 9.12
     Office Supplies Wholesale 9.12
Business Support Supplies 9.12
Casinos & Gaming 13.23
Closed End Funds 21.35
Coal 6.43
Commercial Printing Services 9.94
Commercial REITs 21.41
Commodity Chemicals 9.53
Communications & Networking 15.25
Computer & Electronics Retailers 9.01
Computer Hardware 9.45
Construction & Engineering 9.57
Construction Materials 10.93
Construction Supplies & Fixtures 11.85
Consumer Lending* 21.47
Consumer Publishing 9.94
Corporate Financial Services* 21.47
Courier, Postal, Air Freight & Land-based Logistics 10.63
Department Stores 9.72
Discount Stores 12.16
Distillers & Wineries 16.53
Diversified Chemicals 10.22
Diversified Industrial Goods Wholesalers 9.52
Diversified Investment Services 21.35
Diversified Mining 8.62
Diversified REITs 21.41
Drug Retailers 9.01
Electric Utilities 9.81
Electrical Components & Equipment 12.19
Electronic Equipment & Parts 12.19
Employment Services 12.98
Entertainment Production 11.7
Environmental Services & Equipment 13.38
Exchange-Traded Funds 21.35
Financial & Commodity Market Operators & Service Providers 22.54
Fishing & Farming** 12.94
     Agricultural Biotechnology 13.07
     Agricultural Consultancy Services 13.07
     Agriculture Support Services 13.07
     Animal Breeding 13.07
     Animal Feed 13.07
     Aquaculture 13.07
     Cattle Farming 13.07
     Coffee, Tea & Cocoa Farming 13.07
     Commercial Fishing 13.07
     Commercial Nurseries 13.07
     Fishing & Farming (NEC) 13.07
     Fishing & Farming Wholesale 10.43
     Fur Farming 13.07
     Grain (Crop) Production 13.07
     Hog & Pig Farming 13.07
     Organic Farming 13.07
     Poultry Farming 13.07
     Sheep & Specialty Livestock Farming 13.07
     Sugarcane Farming 13.07
     Vegetable, Fruit & Nut Farming 13.07
Food Processing 13.01
Food Retail & Distribution** 8.69
     Beer, Wine & Liquor Stores 8.4
     Food Markets 8.4
     Other Food Retail & Distribution 8.4
     Food Wholesale 10.43
     Supermarkets & Convenience Stores 8.4
     Tobacco Stores 8.4
     Vending Machine Providers 8.4
Footwear 14.67
Forest & Wood Products 9.25
Gold 8.52
Ground Freight & Logistics 10.09
Healthcare Facilities & Services 11.25
Heavy Electrical Equipment 12.19
Heavy Machinery & Vehicles 14.23
Highways & Rail Tracks 10.81
Home Furnishings 11.95
Home Furnishings Retailers 12.64
Home Improvement Products & Services Retailers 12.64
Homebuilding 10.29
Hotels, Motels & Cruise Lines 13.23
Household Electronics 8.63
Household Products 16.24
Independent Power Producers 9.37
Industrial Conglomerates 9.52
Industrial Machinery & Equipment 14.23
Insurance Funds 21.35
Integrated Oil & Gas 7.16
Integrated Telecommunications Services 6.55
Investment Banking & Brokerage Services* 21.47
Investment Holding Companies 21.35
Investment Management & Fund Operators 21.35
Iron & Steel 7.42
IT Services & Consulting 12.15
Leisure & Recreation 12.91
Life & Health Insurance 9.43
Managed Healthcare 10.97
Marine Freight & Logistics 10.85
Marine Port Services 10.85
Medical Equipment, Supplies & Distribution 17.21
Mining Support Services & Equipment 8.62
Miscellaneous Specialty Retailers 9.01
Multiline Insurance & Brokers 9.91
Multiline Utilities 9.81
Mutual Funds 21.35
Natural Gas Utilities 9.81
Non-Alcoholic Beverages 16.08
Non-Gold Precious Metals & Minerals 8.52
Non-Paper Containers & Packaging 10.25
Office Equipment 9.12
Oil & Gas Drilling 9.52
Oil & Gas Exploration and Production 8.47
Oil & Gas Refining and Marketing 13.45
Oil & Gas Transportation Services 13.45
Oil Related Services and Equipment 9.52
Online Services 24.24
Paper Packaging 10.25
Paper Products 9.25
Passenger Transportation, Ground & Sea 10.63
Pension Funds 21.35
Personal Products 17.21
Personal Services** 12.84
     Accounting & Tax Preparation 12.98
     Child Care & Family Services 12.98
     Consumer Goods Rental 12.98
     Consumer Repair Services 12.98
     Funeral Services 12.98
     General Education Services 11.76
     Personal Care Services 12.98
     Personal Legal Services 12.98
     Other Personal Services 12.98
Pharmaceuticals 13.96
Phones & Handheld Devices 11.75
Professional Information Services 18.34
Property & Casualty Insurance 11.11
Real Estate Rental, Development & Operations 13.2
Real Estate Services 18.23
Recreational Products 12.91
Reinsurance 12.06
Renewable Energy Equipment & Services 11.71
Renewable Fuels 11.71
Residential REITs 21.41
Restaurants & Bars 12.69
Semiconductor Equipment & Testing 13.32
Semiconductors 11.18
Shipbuilding 10.85
Software 22.54
Specialized REITs 21.41
Specialty Chemicals 12.88
Specialty Mining & Metals 8.62
Textiles & Leather Goods 12.02
Tires & Rubber Products 7.77
Tobacco 15.79
Toys & Children’s Products 12.91
UK Investment Trusts 21.35
Uranium 9.37
Water & Related Utilities 12.7
Wireless Telecommunications Services 6.62
*For these industries, a higher level business sector multiple is applied
**For these industries, a lower activity-based level is available

 

Luca Trevisan
AUTHOR

Luca Trevisan

All stories by: Luca Trevisan

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