Enterprise Value
Multiples by Sector (US)Data Used: Multiple data services
Date of Analysis: Data used is as of January 2022
Download as an excel file instead: https://www.stern.nyu.edu/~adamodar/pc/datasets/vebitda.xls
For global datasets: https://www.stern.nyu.edu/~adamodar/New_Home_Page/data.html
can be obtained by clicking here
on
which companies are included in each industry
| Only positive EBITDA firms | All firms | ||||||||
| Industry Name | Number of firms | EV/EBITDAR&D | EV/EBITDA | EV/EBIT | EV/EBIT (1-t) | EV/EBITDAR&D2 | EV/EBITDA3 | EV/EBIT4 | EV/EBIT (1-t)5 |
| Advertising | 49 | 9.51 | 9.94 | 17.51 | 23.02 | 15.53 | 16.63 | 18.65 | 24.52 |
| Aerospace/Defense | 73 | 10.04 | 13.38 | 22.27 | 27.29 | 17.07 | 25.07 | 29.59 | 36.26 |
| Air Transport | 21 | 12.04 | 17.60 | NA | NA | NA | NA | NA | NA |
| Apparel | 39 | 9.42 | 9.49 | 14.17 | 17.22 | 21.50 | 21.85 | 14.30 | 17.39 |
| Auto & Truck | 26 | 26.10 | 39.07 | 83.09 | 104.98 | 39.49 | 72.25 | 92.08 | 116.34 |
| Auto Parts | 38 | 6.11 | 7.86 | 13.85 | 18.46 | 9.83 | 14.15 | 16.27 | 21.68 |
| Bank (Money Center) | 7 | NA | NA | NA | NA | NA | NA | NA | NA |
| Banks (Regional) | 563 | NA | NA | NA | NA | NA | NA | NA | NA |
| Beverage (Alcoholic) | 21 | 16.72 | 16.72 | 20.70 | 26.29 | 17.51 | 17.51 | 20.75 | 26.35 |
| Beverage (Soft) | 32 | 19.56 | 20.00 | 23.92 | 31.18 | 22.52 | 23.10 | 23.94 | 31.20 |
| Broadcasting | 28 | 7.33 | 7.33 | 10.17 | 12.54 | 7.48 | 7.49 | 10.19 | 12.57 |
| Brokerage & Investment Banking | 31 | 182.39 | NA | NA | NA | NA | NA | NA | NA |
| Building Materials | 44 | 12.86 | 13.67 | 18.11 | 24.15 | 17.19 | 18.66 | 18.16 | 24.22 |
| Business & Consumer Services | 160 | 15.24 | 16.01 | 26.65 | 36.95 | 20.34 | 21.62 | 28.94 | 40.13 |
| Cable TV | 11 | 10.14 | 10.18 | 17.34 | 22.73 | 11.36 | 11.41 | 17.34 | 22.73 |
| Chemical (Basic) | 35 | 5.36 | 5.62 | 7.88 | 9.99 | 10.95 | 12.07 | 8.02 | 10.17 |
| Chemical (Diversified) | 4 | 7.78 | 8.66 | 13.79 | 15.01 | 11.84 | 14.03 | 13.81 | 15.04 |
| Chemical (Specialty) | 81 | 13.80 | 15.41 | 24.50 | 29.13 | 16.92 | 19.38 | 24.61 | 29.26 |
| Coal & Related Energy | 18 | 7.99 | 8.18 | NA | NA | 21.80 | 22.78 | NA | NA |
| Computer Services | 83 | 9.86 | 11.97 | 21.98 | 26.75 | 11.77 | 14.83 | 22.41 | 27.27 |
| Computers/Peripherals | 46 | 17.15 | 21.30 | 25.45 | 29.36 | 17.79 | 22.24 | 25.69 | 29.63 |
| Construction Supplies | 48 | 12.22 | 14.26 | 21.06 | 27.24 | 15.29 | 18.51 | 21.63 | 27.98 |
| Diversified | 22 | 7.53 | 7.89 | 9.28 | 11.49 | 11.12 | 11.92 | 9.31 | 11.53 |
| Drugs (Biotechnology) | 581 | 5.90 | 11.29 | 40.42 | 55.64 | 12.46 | 41.42 | 58.26 | 80.21 |
| Drugs (Pharmaceutical) | 298 | 8.45 | 13.67 | 20.68 | 23.30 | 10.36 | 19.04 | 21.25 | 23.95 |
| Education | 35 | 9.79 | 12.34 | 38.93 | 57.97 | 18.25 | 25.97 | 50.40 | 75.05 |
| Electrical Equipment | 104 | 14.70 | 17.19 | 28.24 | 37.68 | 21.98 | 26.76 | 34.33 | 45.79 |
| Electronics (Consumer & Office) | 16 | 10.06 | 18.95 | 29.61 | 32.57 | 11.48 | 23.36 | 31.13 | 34.24 |
| Electronics (General) | 137 | 12.67 | 16.65 | 26.43 | 32.80 | 15.98 | 22.42 | 27.66 | 34.33 |
| Engineering/Construction | 48 | 12.60 | 12.63 | 21.23 | 27.67 | 15.31 | 15.36 | 21.39 | 27.88 |
| Entertainment | 108 | 24.62 | 31.58 | 70.46 | 84.22 | 38.08 | 54.62 | 79.25 | 94.72 |
| Environmental & Waste Services | 58 | 15.95 | 15.97 | 27.38 | 35.36 | 19.23 | 19.25 | 27.68 | 35.75 |
| Farming/Agriculture | 36 | 11.49 | 12.87 | 16.35 | 20.62 | 13.88 | 15.92 | 16.60 | 20.93 |
| Financial Svcs. (Non-bank & Insurance) | 223 | 99.55 | 104.28 | 114.39 | 132.98 | NA | NA | 179.46 | NA |
| Food Processing | 92 | 12.19 | 12.62 | 16.23 | 21.52 | 13.08 | 13.57 | 16.43 | 21.80 |
| Food Wholesalers | 15 | 14.69 | 14.69 | 28.08 | 34.18 | 18.96 | 18.96 | 28.10 | 34.20 |
| Furn/Home Furnishings | 32 | 7.40 | 8.08 | 11.19 | 14.12 | 10.06 | 11.35 | 11.31 | 14.27 |
| Green & Renewable Energy | 20 | 16.84 | 16.87 | 40.45 | 42.45 | 18.81 | 18.84 | 44.31 | 46.50 |
| Healthcare Products | 244 | 18.77 | 24.16 | 37.63 | 44.02 | 24.72 | 34.46 | 39.12 | 45.77 |
| Healthcare Support Services | 131 | 13.08 | 13.17 | 18.11 | 23.39 | 14.69 | 14.80 | 18.73 | 24.19 |
| Heathcare Information and Technology | 142 | 20.47 | 25.60 | 39.39 | 48.07 | 30.31 | 41.67 | 42.88 | 52.32 |
| Homebuilding | 29 | 8.04 | 8.04 | 8.39 | 10.77 | 9.33 | 9.33 | 8.39 | 10.77 |
| Hospitals/Healthcare Facilities | 31 | 8.78 | 8.78 | 13.43 | 17.25 | 12.05 | 12.05 | 13.49 | 17.32 |
| Hotel/Gaming | 66 | 22.88 | 27.82 | NA | NA | NA | NA | NA | NA |
| Household Products | 118 | 17.51 | 18.88 | 23.54 | 29.09 | 18.40 | 19.91 | 23.69 | 29.28 |
| Information Services | 79 | 23.52 | 25.81 | 35.19 | 44.79 | 28.57 | 31.88 | 36.58 | 46.55 |
| Insurance (General) | 23 | 9.97 | 10.00 | 13.87 | 16.72 | 14.85 | 14.91 | 14.00 | 16.88 |
| Insurance (Life) | 24 | 9.18 | 9.18 | 10.59 | 13.25 | 15.86 | 15.86 | 11.14 | 13.95 |
| Insurance (Prop/Cas.) | 52 | 7.03 | 7.03 | 8.24 | 10.38 | 10.07 | 10.07 | 8.31 | 10.47 |
| Investments & Asset Management | 687 | 21.74 | 22.26 | 26.02 | 32.95 | 40.84 | 42.26 | 33.66 | 42.63 |
| Machinery | 111 | 14.76 | 16.27 | 21.65 | 26.91 | 18.05 | 20.33 | 21.89 | 27.19 |
| Metals & Mining | 74 | 7.56 | 7.60 | 9.98 | 15.00 | 15.51 | 15.67 | 10.24 | 15.39 |
| Office Equipment & Services | 18 | 9.85 | 11.57 | 21.70 | 25.80 | 11.09 | 13.30 | 21.88 | 26.02 |
| Oil/Gas (Integrated) | 4 | 8.26 | 8.42 | 21.41 | 25.48 | 16.79 | 17.46 | 21.41 | 25.48 |
| Oil/Gas (Production and Exploration) | 183 | 8.27 | 8.28 | NA | NA | 13.93 | 13.97 | NA | NA |
| Oil/Gas Distribution | 21 | 13.05 | 13.05 | 21.62 | 27.47 | 12.08 | 12.08 | 21.65 | 27.51 |
| Oilfield Svcs/Equip. | 100 | 11.47 | 12.28 | 51.64 | 78.15 | 27.89 | 32.86 | 54.43 | 82.37 |
| Packaging & Container | 26 | 9.94 | 10.23 | 16.52 | 21.50 | 10.91 | 11.26 | 16.53 | 21.50 |
| Paper/Forest Products | 11 | 4.79 | 4.83 | 6.07 | 7.67 | 8.78 | 8.92 | 6.08 | 7.68 |
| Power | 50 | 12.34 | 12.36 | 23.27 | 28.34 | 13.10 | 13.13 | 23.62 | 28.76 |
| Precious Metals | 76 | 8.32 | 8.48 | 14.60 | 23.11 | 9.91 | 10.13 | 15.40 | 24.38 |
| Publishing & Newspapers | 21 | 9.00 | 9.57 | 17.03 | 21.09 | 11.37 | 12.30 | 17.08 | 21.16 |
| R.E.I.T. | 238 | 26.80 | 26.81 | 64.77 | 68.74 | 34.46 | 34.47 | 69.76 | 74.03 |
| Real Estate (Development) | 19 | 26.84 | 26.84 | 93.94 | 147.67 | 49.67 | 49.67 | 101.21 | 159.10 |
| Real Estate (General/Diversified) | 10 | 19.93 | 19.93 | 32.23 | 43.22 | 53.41 | 53.41 | 39.54 | 53.01 |
| Real Estate (Operations & Services) | 51 | 17.84 | 20.84 | NA | NA | 50.63 | 78.75 | NA | NA |
| Recreation | 60 | 11.54 | 13.32 | 24.05 | 31.44 | 20.55 | 26.15 | 26.71 | 34.92 |
| Reinsurance | 2 | 7.48 | 7.48 | 9.44 | 12.24 | 14.31 | 14.31 | 9.44 | 12.24 |
| Restaurant/Dining | 70 | 19.32 | 19.32 | 41.20 | 49.68 | 29.28 | 29.29 | 41.68 | 50.26 |
| Retail (Automotive) | 32 | 12.15 | 12.16 | 18.42 | 24.33 | 18.82 | 18.83 | 18.63 | 24.60 |
| Retail (Building Supply) | 16 | 14.85 | 14.87 | 18.53 | 24.26 | 18.35 | 18.38 | 18.53 | 24.26 |
| Retail (Distributors) | 68 | 14.67 | 14.68 | 18.76 | 24.50 | 20.24 | 20.25 | 18.80 | 24.56 |
| Retail (General) | 16 | 11.84 | 11.84 | 18.77 | 26.90 | 15.11 | 15.11 | 18.77 | 26.90 |
| Retail (Grocery and Food) | 15 | 7.60 | 7.60 | 24.10 | 30.47 | 8.72 | 8.72 | 24.41 | 30.87 |
| Retail (Online) | 60 | 15.16 | 26.22 | 66.03 | 79.19 | 18.58 | 37.31 | 68.05 | 81.61 |
| Retail (Special Lines) | 76 | 8.40 | 8.46 | 16.20 | 21.04 | 23.12 | 23.57 | 16.41 | 21.31 |
| Rubber& Tires | 2 | 6.04 | 7.26 | 15.32 | 23.50 | 15.46 | 27.03 | 15.32 | 23.50 |
| Semiconductor | 67 | 14.87 | 21.27 | 31.33 | 34.29 | 16.30 | 24.19 | 31.67 | 34.67 |
| Semiconductor Equip | 34 | 14.93 | 19.43 | 22.31 | 24.90 | 16.37 | 21.90 | 22.44 | 25.03 |
| Shipbuilding & Marine | 8 | 6.49 | 6.49 | 9.47 | 11.25 | 13.44 | 13.44 | 9.54 | 11.33 |
| Shoe | 12 | 25.65 | 25.77 | 31.32 | 35.97 | 31.95 | 32.14 | 31.55 | 36.24 |
| Software (Entertainment) | 88 | 14.71 | 20.51 | 25.65 | 30.73 | 20.34 | 32.77 | 26.45 | 31.68 |
| Software (Internet) | 36 | 11.83 | 22.98 | NA | NA | 56.95 | 155.34 | NA | NA |
| Software (System & Application) | 375 | 21.97 | 32.72 | 46.51 | 52.24 | 28.11 | 44.31 | 53.46 | 60.05 |
| Steel | 28 | 4.45 | 4.46 | 5.43 | 6.60 | 15.35 | 15.44 | 5.45 | 6.63 |
| Telecom (Wireless) | 17 | 7.73 | 7.79 | 30.02 | 35.35 | 10.28 | 10.38 | 30.07 | 35.41 |
| Telecom. Equipment | 82 | 11.97 | 18.16 | 23.52 | 28.83 | 12.92 | 20.27 | 23.92 | 29.33 |
| Telecom. Services | 42 | 6.53 | 6.61 | 11.72 | 17.43 | 7.38 | 7.48 | 11.75 | 17.49 |
| Tobacco | 16 | 10.45 | 10.70 | 11.37 | 15.54 | 11.39 | 11.67 | 11.40 | 15.57 |
| Transportation | 17 | 11.41 | 11.42 | 18.74 | 24.38 | 18.48 | 18.50 | 18.75 | 24.40 |
| Transportation (Railroads) | 4 | 15.87 | 15.87 | 20.58 | 26.77 | 18.34 | 18.34 | 20.58 | 26.77 |
| Trucking | 34 | 8.56 | 9.93 | 31.30 | 55.38 | 36.65 | 59.32 | 48.31 | 85.47 |
| Utility (General) | 16 | 14.29 | 14.30 | 25.38 | 28.00 | 14.40 | 14.41 | 25.38 | 28.00 |
| Utility (Water) | 14 | 22.42 | 22.42 | 34.62 | 39.44 | 24.41 | 24.41 | 34.72 | 39.55 |
| Total Market | 7229 | 15.43 | 18.19 | 29.19 | 36.34 | 21.97 | 27.27 | 32.41 | 40.35 |
| Total Market (without financials) | 5619 | 13.50 | 16.06 | 26.27 | 32.75 | 18.35 | 23.00 | 28.08 | 35.01 |