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 |
17.0
|
21.3
|
2.3
|
| Spotify Technology S.A. |
78.2
|
110.4
|
20.5
|
| Mediana / Spotify Technology S.A. |
0.2
|
0.2
|
0.1
|
Pozostałe spółki z branży Media & Entertainment
| Nazwa firmy |
Symbol |
Kapitalizacja (mln $) |
EV/EBITDA |
P/E |
P/B |
Giełda |
| Rai Way S.p.A. |
0R40.L |
1,886 |
8.1 |
18.2 |
8.5 |
London Stock Exchange |
| Embracer Group AB (publ) |
0GFE.L |
2,557 |
89.6 |
-7.6 |
2.9 |
London Stock Exchange |
| Nintendo Co., Ltd. |
0R1E.L |
106,599 |
46.5 |
46.1 |
5.5 |
London Stock Exchange |
| Cars.com Inc. |
0HTZ.L |
737 |
1.4 |
15.8 |
1.5 |
London Stock Exchange |
| TX Group AG |
0QO9.L |
2,735 |
12.8 |
-666.3 |
0.9 |
London Stock Exchange |
| The Interpublic Group of Companies, Inc. |
0JCK.L |
9,046 |
5.4 |
18.5 |
2.5 |
London Stock Exchange |
| Cardlytics, Inc. |
0LEC.L |
86 |
0.6 |
-0.5 |
1.3 |
London Stock Exchange |
| Electronic Arts Inc. |
0IFX.L |
40,105 |
20.9 |
39.1 |
5.5 |
London Stock Exchange |
| Live Nation Entertainment, Inc. |
0JVD.L |
32,850 |
18.1 |
48.6 |
197.2 |
London Stock Exchange |
| Tripadvisor, Inc. |
0QZS.L |
1,724 |
7.7 |
17.7 |
2.9 |
London Stock Exchange |
| Technicolor SA |
0MV8.L |
81 |
-8.4 |
-0.4 |
-0.6 |
London Stock Exchange |
| Charter Communications, Inc. |
0HW4.L |
112,055 |
0.9 |
11.0 |
3.5 |
London Stock Exchange |
| Formula One Group |
0JUJ.L |
32,073 |
60.3 |
-778.0 |
3.2 |
London Stock Exchange |
| Karnov Group AB (publ) |
0A39.L |
1,158 |
15.5 |
-329.2 |
4.6 |
London Stock Exchange |
| Arnoldo Mondadori Editore S.p.A. |
0KAV.L |
653 |
2.3 |
9.5 |
1.8 |
London Stock Exchange |
| Atari SA |
0KUV.L |
76 |
-68.7 |
-4.6 |
232.3 |
London Stock Exchange |
| Take-Two Interactive Software, Inc. |
0LCX.L |
43,159 |
-11.6 |
-9.6 |
20.1 |
London Stock Exchange |
| AFC Ajax NV |
0DI7.L |
207 |
364.6 |
-3.5 |
0.8 |
London Stock Exchange |
| News Corporation |
0K7U.L |
17,219 |
10.6 |
34.1 |
2.0 |
London Stock Exchange |
| ZEAL Network SE |
0QJQ.L |
1,153 |
16.0 |
16.8 |
4.1 |
London Stock Exchange |
| Criteo S.A. |
0I4T.L |
1,315 |
5.3 |
9.3 |
1.2 |
London Stock Exchange |
| G5 Entertainment AB (publ) |
0QUS.L |
94 |
8.9 |
8.9 |
1.5 |
London Stock Exchange |
| Omnicom Group Inc. |
0KBK.L |
13,896 |
4.0 |
9.8 |
3.2 |
London Stock Exchange |
| Manchester United plc |
0Z1Q.L |
3,305 |
15.0 |
-27.1 |
16.3 |
London Stock Exchange |
| HUYA Inc. |
0YB1.L |
837 |
-54.4 |
-52.4 |
1.2 |
London Stock Exchange |
| APG|SGA SA |
0QN0.L |
876 |
16.6 |
23.3 |
8.6 |
London Stock Exchange |
| Spotify Technology S.A. |
639.DE |
151,831 |
80.5 |
113.7 |
21.2 |
Frankfurt Stock Exchange |
| DraftKings Inc. |
DKNG1.MX |
20,851 |
-62.5 |
-39.9 |
18.5 |
Mexico |
| Cinerad Communications Limited |
CINERAD.BO |
63 |
-34.7 |
-34.2 |
37.9 |
Bombay Stock Exchange |
| Electronic Arts Inc. |
ERT.DE |
40,058 |
19.9 |
36.6 |
6.4 |
Frankfurt Stock Exchange |
| Nicco Parks & Resorts Limited |
NICCOPAR.BO |
63 |
17.3 |
23.9 |
5.0 |
Bombay Stock Exchange |
| Pooja Entertainment and Films Limited |
POOJAENT.BO |
61 |
75.4 |
89.0 |
4.1 |
Bombay Stock Exchange |
| Technicolor SA |
VANTI.PA |
86 |
-10.0 |
-0.4 |
-0.6 |
Paris |
| Wild Bunch AG |
WBAH.DE |
796 |
0.0 |
0.0 |
0.0 |
Frankfurt Stock Exchange |