Metoda mnożnikowa – opiera się na porównaniu mnożników firm z branży, w której działa wyceniana spółka (np.
EV/EBITDA, P/E, P/BV). Metoda ta bardzo dobrze odzwierciedla bieżący stan rynku, wymaga mniejszej liczby założeń
oraz jest prostsza w zastosowaniu.
Do jej wad można zaliczyć dużą podatność wyceny na zmienność cen porównywanych spółek, subiektywny dobór
porównywalnych firm oraz uproszczenie obrazu spółki prowadzące do pominięcia bardzo istotnych parametrów (np.
przewaga konkurencyjna, tempo wzrostu, poziom rentowności, strukturę zadłużenia).
|
EV/EBITDA TTM |
P/E TTM |
P/B TTM |
| Mediana dla branży |
18.2
|
25.7
|
5.4
|
| adesso SE |
3.8
|
71.3
|
3.0
|
| Mediana / adesso SE |
4.8
|
0.4
|
1.8
|
Pozostałe spółki z branży Software - Services
| Nazwa firmy |
Symbol |
Kapitalizacja (mln $) |
EV/EBITDA |
P/E |
P/B |
Giełda |
| GFT Technologies SE |
0O2W.L |
675 |
5.3 |
12.6 |
2.2 |
London Stock Exchange |
| Cognizant Technology Solutions Corporation |
0QZ5.L |
39,223 |
10.8 |
16.5 |
2.6 |
London Stock Exchange |
| Qt Group Oyj |
0RG5.L |
1,660 |
20.7 |
25.3 |
7.5 |
London Stock Exchange |
| Veritone, Inc. |
0LP5.L |
62 |
0.8 |
-1.9 |
4.6 |
London Stock Exchange |
| Akamai Technologies, Inc. |
0HBQ.L |
11,394 |
6.2 |
23.0 |
2.4 |
London Stock Exchange |
| Fiserv, Inc. |
0IP9.L |
90,705 |
6.9 |
28.2 |
3.5 |
London Stock Exchange |
| Paychex, Inc. |
0KGE.L |
55,214 |
22.5 |
31.7 |
13.4 |
London Stock Exchange |
| Twilio Inc. |
0LHL.L |
17,411 |
76.4 |
-510.9 |
2.2 |
London Stock Exchange |
| Dropbox, Inc. |
0SGO.L |
7,933 |
10.8 |
17.3 |
-7.6 |
London Stock Exchange |
| Alarm.com Holdings, Inc. |
0HC2.L |
2,900 |
15.6 |
23.2 |
4.0 |
London Stock Exchange |
| Bittium Oyj |
0JG5.L |
317 |
21.1 |
36.7 |
2.4 |
London Stock Exchange |
| Intuit Inc. |
0JCT.L |
211,930 |
40.5 |
60.9 |
10.5 |
London Stock Exchange |
| Guidewire Software, Inc. |
0J1G.L |
21,314 |
293.9 |
614.8 |
15.6 |
London Stock Exchange |
| Adobe Inc. |
0R2Y.L |
166,734 |
18.3 |
25.4 |
13.1 |
London Stock Exchange |
| Fortinet, Inc. |
0IR9.L |
77,690 |
37.2 |
44.5 |
51.9 |
London Stock Exchange |
| Neurones S.A. |
0GX2.L |
1,304 |
16.4 |
21.5 |
3.0 |
London Stock Exchange |
| Teradata Corporation |
0LEE.L |
2,083 |
5.8 |
14.8 |
12.9 |
London Stock Exchange |
| Bouvet ASA |
0HDU.L |
801 |
13.5 |
20.7 |
17.1 |
London Stock Exchange |
| Bread Financial Holdings, Inc. |
0HCR.L |
2,401 |
-10.4 |
9.0 |
0.8 |
London Stock Exchange |
| Broadridge Financial Solutions, Inc. |
0HPW.L |
28,076 |
15.7 |
35.3 |
11.7 |
London Stock Exchange |
| Adecoagro S.A. |
0DWL.L |
927 |
0.0 |
10.1 |
0.7 |
London Stock Exchange |
| Five9, Inc. |
0TMV.L |
2,079 |
52.4 |
-393.6 |
3.0 |
London Stock Exchange |
| Addnode Group AB (publ) |
0GMG.L |
1,483 |
13.2 |
37.3 |
5.6 |
London Stock Exchange |
| Fair Isaac Corporation |
0TIQ.L |
43,266 |
49.5 |
75.4 |
-38.7 |
London Stock Exchange |
| DXC Technology Company |
0I6U.L |
2,841 |
0.0 |
-37.8 |
0.9 |
London Stock Exchange |
| Linedata Services S.A. |
0F2S.L |
450 |
15.4 |
14.1 |
3.3 |
London Stock Exchange |
| Nutanix, Inc. |
0K9O.L |
19,409 |
89.8 |
817.3 |
-27.1 |
London Stock Exchange |
| ATOSS Software AG |
0N66.L |
2,650 |
34.8 |
48.0 |
27.2 |
London Stock Exchange |
| Enea AB (publ) |
0RP6.L |
179 |
5.2 |
14.8 |
1.0 |
London Stock Exchange |
| RingCentral, Inc. |
0V50.L |
2,083 |
4.0 |
-58.8 |
-4.4 |
London Stock Exchange |
| Palo Alto Networks, Inc. |
0KF5.L |
131,440 |
79.7 |
105.5 |
18.1 |
London Stock Exchange |
| HubSpot, Inc. |
0TZZ.L |
29,473 |
329.7 |
-1,252.2 |
14.4 |
London Stock Exchange |
| Paycom Software, Inc. |
0KGH.L |
14,286 |
20.9 |
34.8 |
8.0 |
London Stock Exchange |
| Fabasoft AG |
0IWU.L |
205 |
9.1 |
18.7 |
5.4 |
London Stock Exchange |
| Sword Group S.E. |
0MN5.L |
383 |
9.1 |
15.2 |
3.5 |
London Stock Exchange |
| Gartner, Inc. |
0ITV.L |
31,610 |
18.1 |
25.4 |
23.4 |
London Stock Exchange |
| Cadence Design Systems, Inc. |
0HS2.L |
82,718 |
47.1 |
75.4 |
17.1 |
London Stock Exchange |
| Jacobs Engineering Group Inc. |
0JOI.L |
15,267 |
9.9 |
25.9 |
3.8 |
London Stock Exchange |
| Mitek Systems, Inc. |
0K1W.L |
444 |
12.0 |
33.3 |
2.0 |
London Stock Exchange |
| SS&C Technologies Holdings, Inc. |
0L1G.L |
19,735 |
6.9 |
23.8 |
2.8 |
London Stock Exchange |
| Zoom Video Communications, Inc. |
0A1O.L |
23,420 |
18.4 |
23.7 |
2.7 |
London Stock Exchange |
| Synopsys, Inc. |
0LBP.L |
74,949 |
51.9 |
34.3 |
7.5 |
London Stock Exchange |
| Booz Allen Hamilton Holding Corporation |
0HOT.L |
12,871 |
10.3 |
17.9 |
0.0 |
London Stock Exchange |
| CGI Inc. |
0A18.L |
24,296 |
10.6 |
19.0 |
3.4 |
London Stock Exchange |
| Wavestone SA |
0G1T.L |
1,591 |
12.7 |
22.7 |
2.5 |
London Stock Exchange |
| adesso SE |
0N5I.L |
647 |
3.6 |
70.1 |
3.0 |
London Stock Exchange |
| Pegasystems Inc. |
0KGS.L |
8,490 |
26.8 |
43.2 |
13.9 |
London Stock Exchange |
| Vitec Software Group AB (publ) |
0RDI.L |
1,954 |
13.2 |
44.8 |
3.9 |
London Stock Exchange |
| MongoDB, Inc. |
0KKZ.L |
17,006 |
-211.8 |
-193.6 |
5.5 |
London Stock Exchange |
| The Trade Desk, Inc. |
0LF5.L |
35,280 |
68.6 |
81.6 |
12.4 |
London Stock Exchange |
| Science Applications International Corporation |
0V9N.L |
4,945 |
3.7 |
14.2 |
3.3 |
London Stock Exchange |
| Okta, Inc. |
0KB7.L |
17,167 |
102.9 |
130.6 |
2.6 |
London Stock Exchange |
| Autodesk, Inc. |
0HJF.L |
62,744 |
41.5 |
53.2 |
23.9 |
London Stock Exchange |
| Appian Corporation |
0HGM.L |
2,210 |
-52.4 |
-36.1 |
-68.8 |
London Stock Exchange |
| Global Payments Inc. |
0IW7.L |
18,506 |
0.9 |
11.8 |
0.8 |
London Stock Exchange |
| Verisk Analytics, Inc. |
0LP3.L |
43,533 |
25.5 |
44.9 |
354.1 |
London Stock Exchange |
| secunet Security Networks Aktiengesellschaft |
0NWC.L |
1,566 |
12.8 |
24.8 |
9.0 |
London Stock Exchange |
| Box, Inc. |
0HP1.L |
5,197 |
47.3 |
21.1 |
26.2 |
London Stock Exchange |
| Workday, Inc. |
0M18.L |
53,361 |
85.7 |
133.8 |
7.3 |
London Stock Exchange |
| Fidelity National Information Services, Inc. |
0ILW.L |
41,806 |
8.8 |
50.8 |
2.8 |
London Stock Exchange |
| The Western Union Company |
0LVJ.L |
2,925 |
1.8 |
3.2 |
3.1 |
London Stock Exchange |
| Automatic Data Processing, Inc. |
0HJI.L |
124,732 |
20.0 |
31.3 |
21.4 |
London Stock Exchange |
| Aubay Société Anonyme |
0IPY.L |
748 |
13.0 |
16.6 |
2.3 |
London Stock Exchange |
| VeriSign, Inc. |
0LOZ.L |
26,373 |
22.0 |
33.5 |
-18.9 |
London Stock Exchange |
| Yext, Inc. |
0M2Q.L |
1,027 |
-112.4 |
-37.0 |
6.8 |
London Stock Exchange |
| ServiceNow, Inc. |
0L5N.L |
205,066 |
88.1 |
132.9 |
20.2 |
London Stock Exchange |
| Adyen N.V. |
1N8.DE |
60,056 |
63.0 |
55.8 |
12.2 |
Frankfurt Stock Exchange |
| Check Point Software Technologies Ltd. |
0Y9S.L |
24,013 |
25.3 |
27.7 |
8.6 |
London Stock Exchange |
| DocuSign, Inc. |
0XNH.L |
15,137 |
38.7 |
13.6 |
7.5 |
London Stock Exchange |
| DATAGROUP SE |
0W19.L |
559 |
6.3 |
19.8 |
3.1 |
London Stock Exchange |
| Varonis Systems, Inc. |
0VOU.L |
5,548 |
-51.3 |
-60.6 |
15.0 |
London Stock Exchange |
| Shopify Inc. |
0VHA.L |
129,524 |
58.2 |
69.1 |
11.9 |
London Stock Exchange |
| Zscaler, Inc. |
0XVU.L |
47,061 |
478.0 |
-1,206.2 |
25.9 |
London Stock Exchange |
| Tenable Holdings, Inc. |
0ZC0.L |
3,933 |
148.9 |
-85.3 |
10.0 |
London Stock Exchange |
| Zuora, Inc. |
0XL5.L |
1,087 |
-179.0 |
-35.8 |
7.8 |
London Stock Exchange |
| Esker SA |
0RSL.L |
1,786 |
69.8 |
97.9 |
14.0 |
London Stock Exchange |
| Accenture plc |
0Y0Y.L |
197,524 |
16.3 |
25.7 |
6.7 |
London Stock Exchange |
| 63 Moons Technologies Limited |
63MOONS.BO |
494 |
-62.6 |
-101.9 |
1.1 |
Bombay Stock Exchange |
| 63 Moons Technologies Limited |
63MOONS.NS |
494 |
-62.6 |
-101.9 |
1.1 |
National Stock Exchange of India |
| Argo Blockchain plc 8.75% Senior Notes due 2026 |
ARBKL |
3,833 |
1,787.2 |
-79.6 |
-193.8 |
NASDAQ Global Market |
| Synopsys, Inc. |
SYP.DE |
75,179 |
49.0 |
35.5 |
8.0 |
Frankfurt Stock Exchange |
| TechNVision Ventures Limited |
TECHNVISN.BO |
282 |
486.2 |
21,112.4 |
148.9 |
Bombay Stock Exchange |
| The Western Union Company |
W3U.DE |
3,776 |
2.7 |
4.2 |
4.1 |
Frankfurt Stock Exchange |
| BitFuFu Inc. Warrant |
FUFUW |
550 |
6.8 |
9.3 |
3.1 |
NASDAQ Global Market |