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 |
11.0
|
22.2
|
2.7
|
| Manolete Partners Plc |
8.8
|
41.7
|
0.9
|
| Mediana / Manolete Partners Plc |
1.3
|
0.5
|
3.1
|
Pozostałe spółki z branży Consulting Services
| Nazwa firmy |
Symbol |
Kapitalizacja (mln $) |
EV/EBITDA |
P/E |
P/B |
Giełda |
| LTS, Inc. |
6560.T |
75 |
6.4 |
9.5 |
2.0 |
Tokyo |
| TransUnion |
TRU |
17,448 |
9.6 |
44.2 |
3.8 |
New York Stock Exchange |
| Forrester Research, Inc. |
FORR |
183 |
-3.5 |
-2.1 |
1.2 |
NASDAQ Global Select |
| Equifax Inc. |
EFX |
30,682 |
14.5 |
48.0 |
6.0 |
New York Stock Exchange |
| Centre Testing International Group Co. Ltd. |
300012.SZ |
2,987 |
18.3 |
22.5 |
2.9 |
Shenzhen |
| Huron Consulting Group Inc. |
HURN |
2,305 |
8.2 |
21.9 |
4.9 |
NASDAQ Global Select |
| Business Online Public Company Limited |
BOL.BK |
156 |
15.7 |
18.2 |
4.6 |
Thailand |
| ICF International, Inc. |
ICFI |
1,808 |
5.6 |
16.8 |
1.8 |
NASDAQ Global Select |
| Sundart Holdings Limited |
1568.HK |
232 |
11.0 |
5.8 |
0.5 |
HKSE |
| CRA International, Inc. |
CRAI |
1,218 |
10.0 |
21.8 |
6.2 |
NASDAQ Global Select |
| Bureau Veritas SA |
BVI.PA |
15,757 |
8.2 |
21.1 |
6.1 |
Paris |
| Ricardo plc |
RCDO.L |
357 |
5.7 |
8.4 |
1.4 |
London Stock Exchange |
| Resources Connection, Inc. |
RGP |
153 |
-1.6 |
-0.8 |
0.7 |
NASDAQ Global Select |
| Verisk Analytics, Inc. |
VRSK |
37,446 |
21.1 |
40.9 |
120.2 |
NASDAQ Global Select |
| Funai Soken Holdings Incorporated |
9757.T |
799 |
19.0 |
25.5 |
5.0 |
Tokyo |
| INTLOOP Inc. |
9556.T |
233 |
17.2 |
29.4 |
6.4 |
Tokyo |
| FTI Consulting, Inc. |
FCN |
5,407 |
12.7 |
22.0 |
2.9 |
New York Stock Exchange |
| BayCurrent Consulting, Inc. |
6532.T |
8,815 |
27.7 |
39.1 |
13.6 |
Tokyo |
| DKSH Holding AG |
DKSH.SW |
4,617 |
8.1 |
17.3 |
2.0 |
Swiss Exchange |
| Enento Group Oyj |
ENENTO.HE |
426 |
5.3 |
35.9 |
1.3 |
Helsinki |
| Saudi Networkers Services Company |
9543.SR |
103 |
10.2 |
12.5 |
3.7 |
Saudi |
| CREEK & RIVER Co., Ltd. |
4763.T |
214 |
9.8 |
13.6 |
1.9 |
Tokyo |
| Latent View Analytics Limited |
LATENTVIEW.NS |
942 |
32.0 |
44.1 |
5.5 |
National Stock Exchange of India |
| Fintel Plc |
FNTL.L |
308 |
12.4 |
39.0 |
2.3 |
London Stock Exchange |
| Roma Green Finance Limited Ordinary Shares |
ROMA |
160 |
-66.2 |
-12.7 |
4.2 |
Nasdaq |
| IR Japan Holdings, Ltd. |
6035.T |
94 |
13.1 |
19.6 |
2.4 |
Tokyo |
| Franklin Covey Co. |
FC |
248 |
11.0 |
23.4 |
3.8 |
New York Stock Exchange |
| Experian plc |
EXPN.L |
47,080 |
16.4 |
40.8 |
9.4 |
London Stock Exchange |
| SGS SA |
SGSN.SW |
19,743 |
9.4 |
26.7 |
19.5 |
Swiss Exchange |
| GlobalData Plc |
DATA.L |
1,344 |
12.9 |
35.4 |
2.6 |
London Stock Exchange |
| Gateley (Holdings) Plc |
GTLY.L |
223 |
6.1 |
28.5 |
2.1 |
London Stock Exchange |
| Bluebik Group Public Company Limited |
BBIK.BK |
131 |
12.8 |
14.0 |
2.2 |
Thailand |
| ALS Limited |
ALQ.AX |
6,196 |
12.5 |
35.6 |
8.0 |
Australian Securities Exchange |
| Booz Allen Hamilton Holding Corporation |
BAH |
13,435 |
6.4 |
13.1 |
12.7 |
New York Stock Exchange |
| Aoyama Zaisan Networks Company,Limited |
8929.T |
330 |
13.0 |
21.6 |
5.0 |
Tokyo |
| Exponent, Inc. |
EXPO |
3,493 |
24.9 |
34.5 |
8.3 |
NASDAQ Global Select |
| Rise Consulting Group, Inc. |
9168.T |
204 |
14.0 |
19.5 |
4.4 |
Tokyo |
| China Building Material Test & Certification Group Co., Ltd. |
603060.SS |
798 |
9.7 |
28.7 |
2.8 |
Shanghai |
| Glorious Sun Enterprises Limited |
0393.HK |
254 |
24.3 |
32.9 |
0.7 |
HKSE |
| Elixirr International plc |
ELIX.L |
425 |
11.6 |
19.8 |
2.5 |
London Stock Exchange |
| Latent View Analytics Limited |
LATENTVIEW.BO |
943 |
32.0 |
44.1 |
5.5 |
Bombay Stock Exchange |
| Management Solutions co.,Ltd. |
7033.T |
194 |
8.0 |
11.3 |
4.2 |
Tokyo |
| YAMADA Consulting Group Co.,Ltd. |
4792.T |
235 |
9.9 |
12.1 |
1.9 |
Tokyo |
| Alan Allman Associates |
AAA.PA |
238 |
0.1 |
-14.6 |
3.4 |
Paris |
| Rich Honour International Designs Co., Ltd. |
6754.TW |
109 |
8.6 |
8.7 |
1.5 |
Taiwan |
| Ruentex Interior Design Inc. |
6881.TWO |
117 |
13.0 |
14.2 |
3.7 |
Taipei Exchange |
| Simplex Holdings, Inc. |
4373.T |
1,724 |
19.0 |
32.1 |
5.1 |
Tokyo |
| Ipsos SA |
IPS.PA |
2,230 |
3.3 |
8.2 |
1.1 |
Paris |
| BTS Group AB (publ) |
BTS-B.ST |
359 |
8.0 |
10.0 |
2.3 |
Stockholm Stock Exchange |
| Rejlers AB (publ) |
REJL-B.ST |
443 |
7.0 |
20.0 |
2.1 |
Stockholm Stock Exchange |
| Tanabe Consulting Co.,Ltd. |
9644.T |
159 |
17.4 |
23.3 |
2.2 |
Tokyo |
| Prored Partners CO.,LTD. |
7034.T |
53 |
11.0 |
46.8 |
1.2 |
Tokyo |
| Science Group plc |
SAG.L |
343 |
13.5 |
21.4 |
3.1 |
London Stock Exchange |
| Guang Zhou GRG Metrology & Test Co., Ltd. |
002967.SZ |
1,719 |
21.1 |
33.2 |
3.5 |
Shenzhen |
| Link and Motivation Inc. |
2170.T |
433 |
7.9 |
16.2 |
5.4 |
Tokyo |
| Llorente & Cuenca, S.A. |
LLYC.MC |
123 |
5.8 |
13.0 |
2.8 |
Madrid Stock Exchange |
| Tam Development Co. |
9570.SR |
97 |
7.1 |
10.2 |
2.7 |
Saudi |
| Bengo4.com,Inc. |
6027.T |
560 |
36.6 |
78.5 |
15.2 |
Tokyo |
| Aeries Technology, Inc |
AERTW |
59 |
-1.6 |
-2.2 |
-7.4 |
NASDAQ Global Market |