Enterprise Value
Multiples by Sector (US)Data Used: Multiple data services
Date of Analysis: Data used is as of January 2024
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 | 57 | 11.64 | 12.94 | 22.24 | 28.62 | 13.25 | 14.92 | 22.68 | 29.19 |
| Aerospace/Defense | 70 | 14.00 | 18.49 | 28.31 | 33.75 | 15.18 | 20.43 | 28.97 | 34.53 |
| Air Transport | 25 | 6.03 | 6.17 | 13.02 | 17.57 | 10.74 | 11.17 | 13.54 | 18.27 |
| Apparel | 38 | 7.85 | 7.92 | 12.39 | 16.09 | 9.60 | 9.70 | 12.51 | 16.25 |
| Auto & Truck | 34 | 14.64 | 21.65 | 49.58 | 61.62 | 17.64 | 28.42 | 51.00 | 63.39 |
| Auto Parts | 39 | 5.08 | 7.06 | 14.12 | 20.12 | 6.20 | 9.11 | 15.18 | 21.64 |
| Bank (Money Center) | 15 | NA | NA | NA | NA | NA | NA | NA | NA |
| Banks (Regional) | 625 | NA | NA | NA | NA | NA | NA | NA | NA |
| Beverage (Alcoholic) | 19 | 14.84 | 14.84 | 18.68 | 26.28 | 16.86 | 16.86 | 18.75 | 26.39 |
| Beverage (Soft) | 29 | 17.69 | 18.07 | 21.47 | 26.47 | 19.87 | 20.34 | 21.48 | 26.48 |
| Broadcasting | 22 | 7.31 | 7.31 | 10.67 | 12.78 | 6.33 | 6.33 | 10.68 | 12.79 |
| Brokerage & Investment Banking | 27 | NA | NA | NA | NA | NA | NA | NA | NA |
| Building Materials | 44 | 11.29 | 12.01 | 15.39 | 20.62 | 11.16 | 11.87 | 15.41 | 20.64 |
| Business & Consumer Services | 162 | 15.40 | 16.12 | 23.49 | 30.65 | 17.17 | 18.06 | 23.80 | 31.05 |
| Cable TV | 10 | 7.76 | 7.80 | 13.35 | 18.04 | 7.92 | 7.96 | 13.35 | 18.04 |
| Chemical (Basic) | 32 | 7.59 | 8.10 | 14.06 | 17.95 | 5.81 | 6.10 | 14.34 | 18.31 |
| Chemical (Diversified) | 4 | 12.50 | 15.40 | 73.62 | 130.20 | 5.51 | 6.01 | 73.67 | 130.29 |
| Chemical (Specialty) | 68 | 11.38 | 12.85 | 20.00 | 25.01 | 11.18 | 12.58 | 20.21 | 25.29 |
| Coal & Related Energy | 18 | 2.72 | 2.75 | 4.04 | 4.80 | 5.42 | 5.50 | 6.44 | 7.66 |
| Computer Services | 72 | 10.29 | 12.61 | 18.86 | 23.44 | 11.27 | 14.09 | 18.91 | 23.50 |
| Computers/Peripherals | 36 | 17.09 | 21.83 | 25.97 | 30.50 | 17.51 | 22.47 | 26.18 | 30.75 |
| Construction Supplies | 45 | 9.89 | 11.12 | 14.03 | 18.22 | 13.04 | 15.26 | 14.07 | 18.27 |
| Diversified | 23 | 8.57 | 8.93 | 10.51 | 12.69 | 92.97 | 168.53 | 10.53 | 12.70 |
| Drugs (Biotechnology) | 572 | 6.16 | 13.52 | NA | NA | 10.45 | 31.20 | NA | NA |
| Drugs (Pharmaceutical) | 245 | 9.61 | 16.62 | 27.43 | 33.17 | 8.37 | 13.08 | 27.98 | 33.83 |
| Education | 31 | 8.22 | 10.80 | 31.74 | 56.68 | 15.79 | 23.24 | 45.43 | 81.14 |
| Electrical Equipment | 103 | 12.04 | 14.65 | 28.89 | 44.74 | 16.83 | 21.68 | 32.28 | 49.98 |
| Electronics (Consumer & Office) | 13 | 5.46 | 19.14 | NA | NA | 6.47 | 23.53 | NA | NA |
| Electronics (General) | 129 | 10.27 | 13.59 | 22.11 | 29.11 | 10.95 | 14.68 | 22.71 | 29.90 |
| Engineering/Construction | 43 | 12.45 | 12.76 | 23.13 | 33.41 | 17.49 | 18.10 | 23.54 | 34.01 |
| Entertainment | 98 | 13.65 | 16.37 | 42.53 | 57.77 | 17.86 | 22.41 | 45.58 | 61.90 |
| Environmental & Waste Services | 57 | 14.73 | 15.00 | 24.26 | 32.07 | 16.49 | 16.82 | 24.51 | 32.40 |
| Farming/Agriculture | 42 | 8.13 | 8.97 | 10.56 | 13.48 | 8.86 | 9.86 | 10.66 | 13.61 |
| Financial Svcs. (Non-bank & Insurance) | 172 | 56.66 | 62.48 | 83.08 | 103.07 | 87.01 | 96.07 | 126.01 | 156.33 |
| Food Processing | 82 | 12.01 | 12.51 | 16.77 | 21.62 | 13.29 | 13.90 | 16.88 | 21.76 |
| Food Wholesalers | 14 | 11.26 | 11.26 | 18.05 | 23.88 | 13.13 | 13.13 | 18.05 | 23.88 |
| Furn/Home Furnishings | 31 | 8.07 | 9.37 | 16.70 | 19.43 | 8.58 | 10.01 | 17.17 | 19.97 |
| Green & Renewable Energy | 17 | 12.61 | 12.63 | 33.58 | 37.91 | 13.85 | 13.87 | 34.33 | 38.76 |
| Healthcare Products | 230 | 15.71 | 21.51 | 36.99 | 47.77 | 17.54 | 24.67 | 38.52 | 49.75 |
| Healthcare Support Services | 119 | 11.13 | 11.29 | 15.46 | 20.31 | 12.99 | 13.20 | 15.77 | 20.72 |
| Heathcare Information and Technology | 128 | 16.78 | 21.44 | 36.53 | 42.34 | 17.46 | 22.35 | 37.68 | 43.67 |
| Homebuilding | 32 | 7.79 | 7.79 | 8.11 | 10.61 | 7.32 | 7.32 | 8.11 | 10.62 |
| Hospitals/Healthcare Facilities | 32 | 8.75 | 8.75 | 13.41 | 16.61 | 10.16 | 10.16 | 13.51 | 16.73 |
| Hotel/Gaming | 68 | 13.69 | 14.98 | 30.73 | 33.94 | 20.73 | 23.73 | 31.57 | 34.87 |
| Household Products | 93 | 14.64 | 15.95 | 20.01 | 25.84 | 15.29 | 16.72 | 20.11 | 25.97 |
| Information Services | 18 | 11.01 | 12.15 | 19.06 | 25.66 | 12.33 | 13.79 | 19.06 | 25.66 |
| Insurance (General) | 21 | 11.43 | 11.48 | 17.34 | 21.97 | 9.09 | 9.12 | 17.40 | 22.05 |
| Insurance (Life) | 23 | 17.24 | 17.24 | NA | NA | 18.23 | 18.23 | NA | NA |
| Insurance (Prop/Cas.) | 50 | 11.77 | 11.77 | 15.66 | 20.00 | 21.56 | 21.56 | 18.12 | 23.15 |
| Investments & Asset Management | 334 | 33.62 | 34.85 | 34.90 | 43.95 | 29.97 | 30.89 | 36.83 | 46.40 |
| Machinery | 103 | 13.95 | 15.46 | 20.31 | 26.04 | 15.73 | 17.65 | 20.54 | 26.33 |
| Metals & Mining | 68 | 10.29 | 10.36 | 14.87 | 23.62 | 9.05 | 9.10 | 15.03 | 23.86 |
| Office Equipment & Services | 17 | 8.05 | 9.34 | 15.61 | 22.94 | 9.59 | 11.48 | 15.62 | 22.95 |
| Oil/Gas (Integrated) | 4 | 6.18 | 6.24 | 8.54 | 12.11 | 4.61 | 4.64 | 8.54 | 12.11 |
| Oil/Gas (Production and Exploration) | 166 | 4.67 | 4.67 | 6.98 | 8.76 | 4.29 | 4.29 | 7.03 | 8.82 |
| Oil/Gas Distribution | 24 | 7.31 | 7.31 | 9.29 | 11.33 | 12.23 | 12.23 | 9.36 | 11.41 |
| Oilfield Svcs/Equip. | 100 | 5.31 | 5.42 | 7.08 | 9.05 | 5.42 | 5.54 | 7.11 | 9.10 |
| Packaging & Container | 22 | 8.39 | 8.63 | 14.03 | 17.74 | 8.65 | 8.91 | 14.03 | 17.75 |
| Paper/Forest Products | 7 | 7.01 | 7.06 | 10.31 | 14.79 | 4.34 | 4.36 | 10.32 | 14.80 |
| Power | 50 | 11.66 | 11.69 | 22.34 | 25.76 | 13.34 | 13.39 | 22.81 | 26.30 |
| Precious Metals | 61 | 12.59 | 13.01 | 40.06 | 49.75 | 11.94 | 12.31 | 41.38 | 51.39 |
| Publishing & Newspapers | 21 | 9.64 | 10.52 | 18.91 | 24.96 | 10.79 | 11.89 | 19.00 | 25.08 |
| R.E.I.T. | 193 | 21.02 | 21.02 | 47.68 | 49.29 | 25.49 | 25.49 | 52.81 | 54.59 |
| Real Estate (Development) | 17 | 17.93 | 17.93 | 36.27 | 44.52 | 15.52 | 15.52 | 39.28 | 48.21 |
| Real Estate (General/Diversified) | 11 | 18.01 | 18.01 | 28.44 | 34.86 | 24.51 | 24.51 | 29.08 | 35.64 |
| Real Estate (Operations & Services) | 60 | 12.52 | 14.98 | NA | NA | 22.79 | 30.12 | NA | NA |
| Recreation | 55 | 8.60 | 9.99 | 21.72 | 29.25 | 10.27 | 12.19 | 22.76 | 30.64 |
| Reinsurance | 1 | 7.28 | 7.28 | 7.14 | 9.27 | 11.84 | 11.84 | 7.14 | 9.27 |
| Restaurant/Dining | 64 | 16.18 | 16.60 | 29.33 | 37.12 | 22.09 | 22.83 | 31.10 | 39.36 |
| Retail (Automotive) | 30 | 11.61 | 11.63 | 17.42 | 23.53 | 14.08 | 14.11 | 18.38 | 24.82 |
| Retail (Building Supply) | 16 | 13.21 | 13.33 | 17.19 | 22.81 | 13.78 | 13.91 | 17.53 | 23.26 |
| Retail (Distributors) | 62 | 11.62 | 11.63 | 13.82 | 18.03 | 14.01 | 14.03 | 14.89 | 19.42 |
| Retail (General) | 26 | 10.98 | 16.63 | 38.47 | 49.41 | 13.10 | 22.02 | 38.48 | 49.42 |
| Retail (Grocery and Food) | 14 | 5.62 | 6.38 | 19.80 | 29.28 | 6.75 | 7.82 | 20.67 | 30.56 |
| Retail (REITs) | 28 | 17.43 | 17.43 | 34.71 | 36.14 | 18.53 | 18.54 | 34.71 | 36.14 |
| Retail (Special Lines) | 105 | 9.23 | 9.34 | 20.32 | 26.81 | 14.40 | 14.68 | 20.56 | 27.13 |
| Rubber& Tires | 3 | 6.06 | 7.95 | 29.78 | 29.78 | 5.45 | 6.93 | 29.89 | 29.89 |
| Semiconductor | 63 | 19.41 | 31.59 | 53.32 | 59.74 | 20.08 | 33.22 | 53.72 | 60.20 |
| Semiconductor Equip | 30 | 13.39 | 18.18 | 21.53 | 24.45 | 12.90 | 17.29 | 21.55 | 24.47 |
| Shipbuilding & Marine | 8 | 8.38 | 8.38 | 14.23 | 17.48 | 5.16 | 5.16 | 14.28 | 17.54 |
| Shoe | 13 | 18.84 | 18.95 | 23.68 | 28.75 | 21.74 | 21.89 | 23.71 | 28.78 |
| Software (Entertainment) | 84 | 11.06 | 17.16 | 22.22 | 26.74 | 12.56 | 20.75 | 22.73 | 27.36 |
| Software (Internet) | 35 | 7.86 | 19.33 | NA | NA | 37.65 | NA | NA | NA |
| Software (System & Application) | 351 | 19.13 | 28.43 | 39.48 | 48.60 | 23.49 | 37.57 | 42.31 | 52.08 |
| Steel | 29 | 5.92 | 5.93 | 7.73 | 9.65 | 4.13 | 4.14 | 7.75 | 9.68 |
| Telecom (Wireless) | 13 | 9.00 | 9.01 | 23.51 | 31.11 | 10.77 | 10.79 | 23.52 | 31.12 |
| Telecom. Equipment | 66 | 9.09 | 13.98 | 17.65 | 21.41 | 9.96 | 15.86 | 18.18 | 22.06 |
| Telecom. Services | 42 | 6.09 | 6.18 | 11.21 | 12.69 | 6.38 | 6.49 | 11.23 | 12.72 |
| Tobacco | 16 | 10.53 | 10.84 | 11.67 | 14.82 | 10.65 | 10.97 | 11.70 | 14.86 |
| Transportation | 36 | 10.94 | 12.01 | 20.89 | 27.08 | 11.88 | 13.12 | 21.18 | 27.45 |
| Transportation (Railroads) | 4 | 14.32 | 14.32 | 18.97 | 24.65 | 13.30 | 13.30 | 18.97 | 24.65 |
| Trucking | 22 | 10.37 | 10.57 | 20.59 | 28.25 | 9.79 | 9.96 | 20.60 | 28.26 |
| Utility (General) | 14 | 11.69 | 11.70 | 19.08 | 22.63 | 13.08 | 13.09 | 19.08 | 22.63 |
| Utility (Water) | 13 | 16.86 | 16.86 | 25.64 | 29.85 | 18.32 | 18.32 | 25.73 | 29.97 |
| Total Market | 6481 | 14.01 | 16.81 | 26.14 | 32.73 | 16.77 | 20.54 | 28.43 | 35.60 |
| Total Market (without financials) | 5214 | 11.71 | 14.15 | 22.06 | 27.59 | 13.39 | 16.53 | 22.86 | 28.59 |