Business Valuation Multiples
The following guide provides sources for business valuation multiples for a wide range of industries, with information provided for each resource including a description of its primary features and any information that is available free online.
DealStats® - Private and Public Company Transaction Database
Subscription database provides detailed transaction data for over 40,000 companies sold for prices ranging from under $250,000 to more than $500 million, with valuation multiples provided including market value of invested capital (MVIC) as a multiple of sales, gross profit, EBIT, EBITDA, seller's discretionary earnings, and book value of invested capital. Database is fully searchable by any field including SIC and NAICS codes. User guide, video tutorial, and sample reports are available online.
DealStats® Value Index
Quarterly publication provides information on valuation trends over the last 10 years for transactions included in the DealStats® database, with MVIC/net revenue, gross profit, EBIT, EBITDA, and SDE multiples reported by revenue range (< $1M, $1M-$5M, >$5M), sector (construction; manufacturing; transportation, communications, and utilities; wholesale; retail; services), and type of buyer (private, public). Publication is included with the DealStats® subscription and is available to subscribers only.
BizMiner Business Valuation Multiple Search
Subscription database allows users to search for price/sales and price/discretionary owner earnings multiples derived from the DealStats® database by NAICS code and sales group (<$2.5, $2.5-$25M, >$25M, and industry wide), with valuation measures reported for each NAICS code including median and upper and lower quartiles. Database definitions and a sample report which includes lists of all of the NAICS codes and industries available for each of the four sales group can be viewed free online.
BIZCOMPS® Studies - Small Business Transaction Database
Annual study provides transaction data for more than 12,000 companies sold over the last ten years, with the primary focus on small companies priced at less than $1 million. Information provided in the study includes selling price, annual revenue, seller's discretionary earnings, P/R (price/revenue) and P/SDE (price/seller's discretionary earnings) multiples, payment terms, estimated value of furniture, fixtures, and equipment, and rent as a percentage of revenue. User guide can be viewed free online.
Acme Business Valuations - Small Business Valuation Multiples Report
Comprehensive reference guide provides market-based business valuation multiples by industry for over 200 industries. The valuation multiples are derived from actual business sales transactions as reported by BIZCOMPS®, with the primary focus on businesses priced at less than $1 million. The valuation multiple ranges provided in the report represent the midrange of the reported transactions for each industry. Sample report includes a complete list of all industries included in the full report.
BizBuySell Insight Report
Quarterly report analyzes sales and listing prices for over 45,000 small businesses listed for sale or recently sold, with the "Closed Small Business Transactions Metrics by Sector" section of the report providing median asking price, median selling price, average sales to asking price, median revenue, median cash flow (net income before owner's compensation, interest, depreciation, and taxes), and average revenue and cash flow multiples for 80 individual industries. Report is available free online.
Pepperdine Private Capital Markets Report
Comprehensive annual private capital markets survey includes an analysis of median price multiples for completed deals by size of company and industry sector (e.g., manufacturing, construction, basic materials and energy, wholesale distribution, consumer goods and services, and business services) based on survey responses from investment bankers, private equity groups, angel investors, venture capital firms, limited partners, and business brokers. Survey is available free online with registration.
ValuSource Market Comps (formerly IBA Market Data)
Subscription service provides sales transaction data for over 37,000 sales of closely-held companies in over 800 industries, with data provided for each transaction including SIC/NAICS codes, business description, asking price, sales date, sales price, annual sales, discretionary earnings (i.e., earnings before owners' compensation, interest expense, and income taxes expense), owners' compensation, price/sales multiple, price/discretionary earnings multiple, state, and U.S. Census geographic region.
ValuSource M&A Comps (replaces DoneDeals)
Online service provides transaction details for over 10,000 private and public mid-market companies sold for purchase prices between $1 million and $250 million, with 50 percent being under $10 million. Data provided for each sales transaction includes asking price, sales price, annual sales, annual net income, EBITDA, seller discretionary earnings, total assets, stockholders' equity, and price multiples (e.g., price/revenue, net income, seller discretionary earnings, total assets, and stockholders' equity).
Factset Mergerstat® Review
Annual publication analyzes mergers and acquisitions, corporate divestitures, and management buy- outs involving ownership interests in public, private, and foreign companies, with information provided by industry sector including target company pricing multiples (e.g., P/E, TIC/EBIT, and TIC/ EBITDA), control premiums offered, and methods of payment. Subscription includes the annual print edition of this publication and the monthly review which provides updates on the latest deal activity and trends.
Factset Mergerstat® / BVR Control Premium Study
Online searchable database provides transaction detail on mergers and acquisitions, private equity deals, and corporate takeovers and buy-outs involving controlling interests in public companies, with data provided—including target company pricing multiples, control premiums, and implied minority discounts—searchable by industry, annual revenue, earnings, deal size, and other selected criteria. Subscription includes quarterly control premium study reports; sample reports are available online.
The Health Care Group - Goodwill Registry & Goodwill Registry Toolkit
The Goodwill Registry provides transaction data on intangible values for medical, dental, and other healthcare practices. Each transaction record provides information on practice location, valuation reason, practice price, gross revenue, overhead percentage, earnings, and goodwill value in both dollars and as a percentage of gross revenue. Individual specialty information for 40 specialties is also available for purchase separately in the "Goodwill Registry Online by Specialty" store section.
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