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Post# of 17653
Posted On: 06/28/2014 11:26:55 PM
http://people.stern.nyu.edu/adamodar/New_Home...bitda.html
Value Multiples by Sector
Data Used: S&P Capital IQ, Bloomberg and the Fed
Date of Analysis: Data used is as of January 2014
Industry Name Number of firms EV/EBITDA EV/EBIT EV/EBIT (1-t)
Advertising 65 11.83 13.04 17.19
Aerospace/Defense 95 11.23 13.37 19.26
Air Transport 25 9.64 14.68 16.94
Apparel 70 14.12 16.03 21.31
Auto & Truck 26 11.72 24.07 30.59
Auto Parts 75 8.21 10.96 14.37
Bank 7 NA NA NA
Banks (Regional) 721 NA NA 0.00
Beverage 47 13.95 16.89 21.82
Beverage (Alcoholic) 19 18.78 22.75 29.01
Biotechnology 349 22.87 49.96 73.29
Broadcasting 30 13.55 15.53 19.89
Brokerage & Investment Banking 49 9.48 3.82 5.25
Building Materials 37 14.47 19.68 27.37
Business & Consumer Services 179 12.52 16.55 25.12
Cable TV 16 9.01 14.27 21.05
Chemical (Basic) 47 9.58 14.64 21.59
Chemical (Diversified) 10 10.87 15.73 21.93
Chemical (Specialty) 100 10.82 13.30 17.80
Coal & Related Energy 45 9.28 43.19 52.41
Computer Services 129 9.51 11.06 14.43
Computer Software 273 12.67 15.09 18.91
Computers/Peripherals 66 8.61 10.65 14.20
Construction 18 20.69 47.51 59.68
Diversified 20 19.82 28.21 34.14
Educational Services 40 8.45 14.97 23.28
Electrical Equipment 135 12.24 15.17 22.23
Electronics 191 11.85 19.55 24.43
Electronics (Consumer & Office) 26 8.95 13.06 16.11
Engineering 56 9.65 11.36 16.48
Entertainment 85 12.61 15.10 21.41
Environmental & Waste Services 108 10.79 17.17 25.62
Farming/Agriculture 29 11.49 15.84 24.04
Financial Svcs. 76 13.67 15.14 23.25
Financial Svcs. (Non-bank & Insurance) 17 35.29 4.18 5.18
Food Processing 97 12.26 14.63 19.70
Food Wholesalers 18 10.73 12.96 20.40
Furn/Home Furnishings 36 11.25 14.87 17.81
Healthcare Equipment 193 10.64 13.58 16.02
Healthcare Facilities 47 9.15 13.14 17.58
Healthcare Products 58 15.42 27.54 32.77
Healthcare Services 126 9.36 11.12 17.07
Heathcare Information and Technology 125 17.65 26.27 31.99
Heavy Construction 46 10.48 13.75 19.91
Homebuilding 32 18.06 18.72 22.54
Hotel/Gaming 89 14.18 22.08 26.63
Household Products 139 12.54 15.03 20.84
Information Services 71 15.21 17.47 25.03
Insurance (General) 26 9.00 11.94 14.18
Insurance (Life) 27 14.35 15.21 18.89
Insurance (Prop/Cas.) 53 8.97 8.77 11.80
Internet software and services 330 22.80 33.63 43.49
Investment Co. 65 10.06 13.17 19.39
Machinery 141 12.03 14.84 19.85
Metals & Mining 134 8.75 13.94 21.06
Office Equipment & Services 30 10.06 12.73 18.95
Oil/Gas (Integrated) 8 6.53 9.39 15.81
Oil/Gas (Production and Exploration) 411 12.98 NA NA
Oil/Gas Distribution 80 15.54 22.86 25.19
Oilfield Svcs/Equip. 163 8.63 11.21 15.57
Packaging & Container 24 9.12 12.86 17.04
Paper/Forest Products 21 9.70 15.67 18.27
Pharma & Drugs 138 11.54 15.60 19.92
Power 106 9.78 16.85 23.70
Precious Metals 166 5.37 16.69 18.50
Publshing & Newspapers 52 10.18 16.34 22.06
R.E.I.T. 46 7.41 23.81 23.77
Railroad 10 9.88 12.42 19.47
Real Estate (Development) 22 31.56 111.69 133.40
Real Estate (General/Diversified) 11 56.83 130.42 169.56
Real Estate (Operations & Services) 47 16.13 22.98 29.02
Recreation 70 11.75 15.99 20.32
Reinsurance 3 8.81 12.32 16.13
Restaurant 84 14.55 20.38 27.69
Retail (Automotive) 30 12.98 16.82 27.05
Retail (Building Supply) 7 12.11 16.33 25.83
Retail (Distributors) 87 13.15 14.26 21.17
Retail (General) 21 9.12 13.61 20.98
Retail (Grocery and Food) 21 10.08 22.34 32.43
Retail (Internet) 47 42.14 78.72 101.86
Retail (Special Lines) 137 11.94 16.17 25.35
Rubber& Tires 4 5.14 7.15 10.23
Semiconductor 104 10.24 17.20 21.07
Semiconductor Equip 51 14.09 31.59 42.39
Shipbuilding & Marine 14 13.04 21.01 34.18
Shoe 14 16.51 18.90 25.16
Steel 37 10.32 18.06 23.23
Telecom (Wireless) 28 14.62 NA NA
Telecom. Equipment 131 11.65 14.63 17.30
Telecom. Services 82 7.42 15.81 18.47
Thrift 223 11.20 NA NA
Tobacco 12 10.85 11.30 16.55
Transportation 22 15.35 24.08 36.00
Trucking 28 10.91 13.63 23.01
Utility (General) 20 9.38 15.02 21.50
Utility (Water) 20 10.90 16.07 23.70
Total Market 7766 11.45 17.93 24.15
Value Multiples by Sector
Data Used: S&P Capital IQ, Bloomberg and the Fed
Date of Analysis: Data used is as of January 2014
Industry Name Number of firms EV/EBITDA EV/EBIT EV/EBIT (1-t)
Advertising 65 11.83 13.04 17.19
Aerospace/Defense 95 11.23 13.37 19.26
Air Transport 25 9.64 14.68 16.94
Apparel 70 14.12 16.03 21.31
Auto & Truck 26 11.72 24.07 30.59
Auto Parts 75 8.21 10.96 14.37
Bank 7 NA NA NA
Banks (Regional) 721 NA NA 0.00
Beverage 47 13.95 16.89 21.82
Beverage (Alcoholic) 19 18.78 22.75 29.01
Biotechnology 349 22.87 49.96 73.29
Broadcasting 30 13.55 15.53 19.89
Brokerage & Investment Banking 49 9.48 3.82 5.25
Building Materials 37 14.47 19.68 27.37
Business & Consumer Services 179 12.52 16.55 25.12
Cable TV 16 9.01 14.27 21.05
Chemical (Basic) 47 9.58 14.64 21.59
Chemical (Diversified) 10 10.87 15.73 21.93
Chemical (Specialty) 100 10.82 13.30 17.80
Coal & Related Energy 45 9.28 43.19 52.41
Computer Services 129 9.51 11.06 14.43
Computer Software 273 12.67 15.09 18.91
Computers/Peripherals 66 8.61 10.65 14.20
Construction 18 20.69 47.51 59.68
Diversified 20 19.82 28.21 34.14
Educational Services 40 8.45 14.97 23.28
Electrical Equipment 135 12.24 15.17 22.23
Electronics 191 11.85 19.55 24.43
Electronics (Consumer & Office) 26 8.95 13.06 16.11
Engineering 56 9.65 11.36 16.48
Entertainment 85 12.61 15.10 21.41
Environmental & Waste Services 108 10.79 17.17 25.62
Farming/Agriculture 29 11.49 15.84 24.04
Financial Svcs. 76 13.67 15.14 23.25
Financial Svcs. (Non-bank & Insurance) 17 35.29 4.18 5.18
Food Processing 97 12.26 14.63 19.70
Food Wholesalers 18 10.73 12.96 20.40
Furn/Home Furnishings 36 11.25 14.87 17.81
Healthcare Equipment 193 10.64 13.58 16.02
Healthcare Facilities 47 9.15 13.14 17.58
Healthcare Products 58 15.42 27.54 32.77
Healthcare Services 126 9.36 11.12 17.07
Heathcare Information and Technology 125 17.65 26.27 31.99
Heavy Construction 46 10.48 13.75 19.91
Homebuilding 32 18.06 18.72 22.54
Hotel/Gaming 89 14.18 22.08 26.63
Household Products 139 12.54 15.03 20.84
Information Services 71 15.21 17.47 25.03
Insurance (General) 26 9.00 11.94 14.18
Insurance (Life) 27 14.35 15.21 18.89
Insurance (Prop/Cas.) 53 8.97 8.77 11.80
Internet software and services 330 22.80 33.63 43.49
Investment Co. 65 10.06 13.17 19.39
Machinery 141 12.03 14.84 19.85
Metals & Mining 134 8.75 13.94 21.06
Office Equipment & Services 30 10.06 12.73 18.95
Oil/Gas (Integrated) 8 6.53 9.39 15.81
Oil/Gas (Production and Exploration) 411 12.98 NA NA
Oil/Gas Distribution 80 15.54 22.86 25.19
Oilfield Svcs/Equip. 163 8.63 11.21 15.57
Packaging & Container 24 9.12 12.86 17.04
Paper/Forest Products 21 9.70 15.67 18.27
Pharma & Drugs 138 11.54 15.60 19.92
Power 106 9.78 16.85 23.70
Precious Metals 166 5.37 16.69 18.50
Publshing & Newspapers 52 10.18 16.34 22.06
R.E.I.T. 46 7.41 23.81 23.77
Railroad 10 9.88 12.42 19.47
Real Estate (Development) 22 31.56 111.69 133.40
Real Estate (General/Diversified) 11 56.83 130.42 169.56
Real Estate (Operations & Services) 47 16.13 22.98 29.02
Recreation 70 11.75 15.99 20.32
Reinsurance 3 8.81 12.32 16.13
Restaurant 84 14.55 20.38 27.69
Retail (Automotive) 30 12.98 16.82 27.05
Retail (Building Supply) 7 12.11 16.33 25.83
Retail (Distributors) 87 13.15 14.26 21.17
Retail (General) 21 9.12 13.61 20.98
Retail (Grocery and Food) 21 10.08 22.34 32.43
Retail (Internet) 47 42.14 78.72 101.86
Retail (Special Lines) 137 11.94 16.17 25.35
Rubber& Tires 4 5.14 7.15 10.23
Semiconductor 104 10.24 17.20 21.07
Semiconductor Equip 51 14.09 31.59 42.39
Shipbuilding & Marine 14 13.04 21.01 34.18
Shoe 14 16.51 18.90 25.16
Steel 37 10.32 18.06 23.23
Telecom (Wireless) 28 14.62 NA NA
Telecom. Equipment 131 11.65 14.63 17.30
Telecom. Services 82 7.42 15.81 18.47
Thrift 223 11.20 NA NA
Tobacco 12 10.85 11.30 16.55
Transportation 22 15.35 24.08 36.00
Trucking 28 10.91 13.63 23.01
Utility (General) 20 9.38 15.02 21.50
Utility (Water) 20 10.90 16.07 23.70
Total Market 7766 11.45 17.93 24.15
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