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Erschienen in:
2018 | OriginalPaper | Buchkapitel
5. Market-Based Method
verfasst von : Marco Fazzini
Erschienen in: Business Valuation
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Abstract
Under a market-based approach the value of the firm is calculated by comparing it with similar businesses, for which significant and recent indications on price are available. The chapter examines both the comparable companies method and the comparable transactions method, from both an asset-side (EV/Revenues, EV/EBITDA, EV/EBIT, EV/Free cash flow) and an equity-side (P/E, P/BV, PEG, P/Free cash flow to equity) perspective. The application of the market multiple method involves the following steps: selection of peer group; choice of multiple; application of multiple to the target company.