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 |
10.2
|
17.0
|
2.2
|
| HireQuest, Inc. |
23.5
|
55.2
|
2.0
|
| Mediana / HireQuest, Inc. |
0.4
|
0.3
|
1.1
|
Pozostałe spółki z branży Staffing & Employment Services
| Nazwa firmy |
Symbol |
Kapitalizacja (mln $) |
EV/EBITDA |
P/E |
P/B |
Giełda |
| SThree plc |
STEM.L |
351 |
4.2 |
5.5 |
1.1 |
London Stock Exchange |
| Adecco Group AG |
ADEN.SW |
5,541 |
2.0 |
16.6 |
1.5 |
Swiss Exchange |
| Upwork Inc. |
UPWK |
1,990 |
15.6 |
8.1 |
3.3 |
NASDAQ Global Select |
| Careerlink Co., Ltd. |
6070.T |
194 |
13.1 |
15.7 |
1.9 |
Tokyo |
| HireQuest, Inc. |
HQI |
136 |
23.6 |
55.5 |
2.0 |
NASDAQ Capital Market |
| TeamLease Services Limited |
TEAMLEASE.BO |
351 |
17.4 |
26.8 |
3.4 |
Bombay Stock Exchange |
| Kforce Inc. |
KFRC |
613 |
9.1 |
13.2 |
4.3 |
NASDAQ Global Select |
| Barrett Business Services, Inc. |
BBSI |
1,253 |
16.7 |
23.2 |
5.5 |
NASDAQ Global Select |
| Recruit Holdings Co., Ltd. |
6098.T |
86,076 |
21.1 |
33.2 |
8.4 |
Tokyo |
| TrueBlue, Inc. |
TBI |
185 |
-7.3 |
-5.4 |
0.6 |
New York Stock Exchange |
| TeamLease Services Limited |
TEAMLEASE.NS |
350 |
17.4 |
26.8 |
3.4 |
National Stock Exchange of India |
| Mastech Digital, Inc. |
MHH |
92 |
30.7 |
100.7 |
1.0 |
American Stock Exchange |
| Kelly Services, Inc. |
KELYA |
506 |
10.6 |
-82.3 |
0.4 |
NASDAQ Global Select |
| Korn Ferry |
KFY |
3,957 |
10.2 |
16.0 |
2.1 |
New York Stock Exchange |
| HITO-Communications Holdings,Inc. |
4433.T |
141 |
9.6 |
-983.9 |
1.2 |
Tokyo |
| Heidrick & Struggles International, Inc. |
HSII |
1,063 |
11.5 |
31.0 |
2.2 |
NASDAQ Global Select |
| Insperity, Inc. |
NSP |
2,087 |
16.6 |
52.6 |
18.8 |
New York Stock Exchange |
| Robert Half International Inc. |
RHI |
3,842 |
15.0 |
21.1 |
2.9 |
New York Stock Exchange |
| Altech Corporation |
4641.T |
417 |
12.2 |
15.4 |
3.3 |
Tokyo |
| TRYT Inc. |
9164.T |
592 |
7.8 |
31.6 |
3.4 |
Tokyo |
| Kelly Services, Inc. |
KELYB |
510 |
10.6 |
-82.3 |
0.4 |
NASDAQ Global Select |
| ZipRecruiter, Inc. |
ZIP |
497 |
1,506.8 |
-12.8 |
-7.0 |
New York Stock Exchange |
| Quess Corp Limited |
QUESS.NS |
463 |
8.0 |
31.5 |
3.7 |
National Stock Exchange of India |
| Paychex, Inc. |
PAYX |
49,962 |
18.8 |
30.2 |
12.1 |
NASDAQ Global Select |
| TechnoPro Holdings, Inc. |
6028.T |
3,398 |
17.9 |
28.8 |
6.2 |
Tokyo |
| Persol Holdings Co., Ltd. |
2181.T |
4,252 |
6.9 |
17.5 |
3.3 |
Tokyo |
| WDB Holdings Co., Ltd. |
2475.T |
241 |
10.4 |
11.5 |
1.1 |
Tokyo |
| Brunel International N.V. |
BRNL.AS |
502 |
6.1 |
14.5 |
1.4 |
Amsterdam |
| Amadeus FiRe AG |
AAD.DE |
397 |
3.8 |
13.9 |
2.2 |
Frankfurt Stock Exchange |
| SEEK Limited |
SEK.AX |
6,632 |
21.6 |
40.7 |
3.7 |
Australian Securities Exchange |
| Pasona Group Inc. |
2168.T |
562 |
1.8 |
0.9 |
0.6 |
Tokyo |
| ONE CAREER Inc. |
4377.T |
340 |
36.5 |
50.2 |
12.3 |
Tokyo |
| UT Group Co., Ltd. |
2146.T |
712 |
8.1 |
12.5 |
3.2 |
Tokyo |
| BGSF, Inc. |
BGSF |
64 |
27.8 |
-24.5 |
0.8 |
New York Stock Exchange |
| Zalaris ASA |
ZAL.OL |
171 |
6.0 |
29.0 |
6.3 |
Oslo Stock Exchange |
| Hays plc |
HAS.L |
1,372 |
17.0 |
-71.7 |
2.1 |
London Stock Exchange |
| PageGroup plc |
PAGE.L |
1,082 |
6.6 |
28.6 |
3.1 |
London Stock Exchange |
| CrowdWorks Inc. |
3900.T |
116 |
10.9 |
23.5 |
2.4 |
Tokyo |
| DIP Corporation |
2379.T |
870 |
8.8 |
14.3 |
3.5 |
Tokyo |
| Beijing Career International Co., Ltd. |
300662.SZ |
867 |
17.6 |
28.2 |
3.1 |
Shenzhen |
| Robert Walters plc |
RWA.L |
132 |
5.7 |
-16.3 |
0.7 |
London Stock Exchange |
| NISSO HOLDINGS Co., Ltd |
9332.T |
150 |
7.8 |
11.1 |
1.3 |
Tokyo |
| Gi Group Poland S.A. |
GIG.WA |
106 |
20.7 |
-8,287.9 |
5.0 |
Warsaw Stock Exchange |
| Groupe CRIT SA |
CEN.PA |
883 |
-0.6 |
9.8 |
1.0 |
Paris |
| Almawarid Manpower Company |
1833.SR |
528 |
14.5 |
20.0 |
4.8 |
Saudi |
| 104 Corporation |
3130.TW |
246 |
11.1 |
15.2 |
5.0 |
Taiwan |
| TriNet Group, Inc. |
TNET |
3,325 |
11.5 |
22.7 |
30.6 |
New York Stock Exchange |
| ManpowerGroup Inc. |
MAN |
2,047 |
2.6 |
-126.8 |
1.0 |
New York Stock Exchange |
| Staffline Group plc |
STAF.L |
75 |
3.8 |
-7.6 |
1.5 |
London Stock Exchange |
| Randstad N.V. |
RAND.AS |
8,424 |
7.4 |
88.1 |
1.9 |
Amsterdam |
| Tongdao Liepin Group |
6100.HK |
261 |
37.1 |
14.1 |
0.6 |
HKSE |
| World Holdings Co., Ltd. |
2429.T |
310 |
0.1 |
7.3 |
1.0 |
Tokyo |
| Morefield Group N.V. |
MORE.AS |
54 |
1.0 |
20.0 |
2.4 |
Amsterdam |
| BeNext-Yumeshin Group Co. |
2154.T |
1,127 |
9.4 |
13.1 |
2.1 |
Tokyo |
| Saudi Manpower Solutions Co. |
1834.SR |
643 |
1.2 |
19.6 |
3.9 |
Saudi |
| Kanzhun Limited |
BZ |
5,030 |
21.0 |
17.0 |
2.2 |
NASDAQ Global Select |
| HIRAYAMA HOLDINGS Co.,Ltd. |
7781.T |
57 |
9.4 |
10.1 |
1.8 |
Tokyo |
| Adecco Group AG |
0QNM.L |
5,542 |
2.0 |
16.6 |
1.5 |
London Stock Exchange |
| Freelance.com SA |
ALFRE.PA |
156 |
-0.2 |
6.9 |
0.7 |
Paris |
| DHI Group, Inc. |
DHX |
131 |
85.5 |
-12.9 |
1.2 |
New York Stock Exchange |
| S-Pool, Inc. |
2471.T |
178 |
0.8 |
14.0 |
3.1 |
Tokyo |
| HiTech Group Australia Limited |
HIT.AX |
53 |
9.9 |
12.2 |
7.8 |
Australian Securities Exchange |
| Jinhai International Group Holdings Limited |
2225.HK |
461 |
-35.4 |
-32.6 |
18.4 |
HKSE |
| en-japan inc. |
4849.T |
497 |
11.5 |
9.5 |
1.9 |
Tokyo |
| International Human Resources Company |
9545.SR |
77 |
12.0 |
33.5 |
6.2 |
Saudi |
| CELM,Inc. |
7367.T |
52 |
6.2 |
14.1 |
2.8 |
Tokyo |
| HRnetGroup Limited |
CHZ.SI |
529 |
20.4 |
15.4 |
1.8 |
Stock Exchange of Singapore |
| Automatic Data Processing, Inc. |
ADP |
123,085 |
18.6 |
30.3 |
20.0 |
NASDAQ Global Select |
| Interworks Confidence Inc. |
7374.T |
68 |
9.3 |
9.8 |
1.8 |
Tokyo |
| McMillan Shakespeare Limited |
MMS.AX |
834 |
3.3 |
13.7 |
10.9 |
Australian Securities Exchange |
| Paychex, Inc. |
PCX.DE |
58,805 |
24.8 |
34.7 |
15.2 |
Frankfurt Stock Exchange |
| Renrui Human Resources Technology Holdings Limited |
6919.HK |
94 |
4.1 |
-9.5 |
0.6 |
Hong Kong Stock Exchange |
| Maharah for Human Resources Company |
1831.SR |
584 |
9.1 |
22.9 |
3.8 |
Saudi |
| Meitec Corporation |
9744.T |
1,745 |
16.5 |
20.0 |
5.2 |
Tokyo |
| Forum Engineering Inc. |
7088.T |
469 |
17.2 |
24.1 |
5.4 |
Tokyo |
| Ework Group AB (publ) |
EWRK.ST |
207 |
8.1 |
16.8 |
8.7 |
Stockholm Stock Exchange |
| Wantedly, Inc. |
3991.T |
86 |
10.4 |
11.0 |
2.9 |
Tokyo |
| Atrae, Inc. |
6194.T |
125 |
13.1 |
23.4 |
3.9 |
Tokyo |
| Will Group, Inc. |
6089.T |
154 |
5.2 |
19.8 |
1.3 |
Tokyo |
| Artner Co.,Ltd. |
2163.T |
141 |
13.8 |
16.5 |
4.4 |
Tokyo |
| JAC Recruitment Co., Ltd. |
2124.T |
1,243 |
17.7 |
27.7 |
10.8 |
Tokyo |
| Gakujo Co., Ltd. |
2301.T |
174 |
10.0 |
13.1 |
1.9 |
Tokyo |
| Fullcast Holdings Co., Ltd. |
4848.T |
418 |
9.6 |
13.7 |
2.2 |
Tokyo |
| Grupa Pracuj S.A. |
GPP.WA |
1,327 |
14.1 |
22.7 |
10.0 |
Warsaw Stock Exchange |
| Matching Service Japan Co., Ltd. |
6539.T |
167 |
14.6 |
23.9 |
2.5 |
Tokyo |
| Quess Corp Limited |
QUESS.BO |
463 |
8.0 |
31.5 |
3.7 |
Bombay Stock Exchange |
| Synergie SE |
SDG.PA |
902 |
8.3 |
12.6 |
1.1 |
Paris |
| Quick Co.,Ltd. |
4318.T |
292 |
11.5 |
12.2 |
2.5 |
Tokyo |
| COPRO-HOLDINGS. Co., Ltd. |
7059.T |
291 |
15.4 |
23.8 |
5.2 |
Tokyo |
| Career Design Center Co., Ltd. |
2410.T |
81 |
7.8 |
12.7 |
3.0 |
Tokyo |