Not sure what multiplier Doc is referring to. There are several different definitions of multipliers in the financial system. Here’s one referring to a stock’s value in relation between stock price and earnings:

The earnings multiplier, also known as the price-to-earnings (P/E) ratio, is a financial metric commonly used by investors to determine the relative valuation of a company’s shares. Essentially, the earnings multiplier helps investors understand the relationship between a company’s stock price and its earnings per share (EPS). This assessment tool aids in uncovering whether a stock’s price is overvalued or undervalued, thereby allowing investors to make informed investment decisions. By comparing the earnings multipliers of different companies within the same industry, investors can gauge their relative growth prospects and evaluate which stocks are most attractive for their financial portfolios.