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 |
5.4
|
19.2
|
1.3
|
| VRL Logistics Limited |
2.7
|
13.4
|
2.3
|
| Mediana / VRL Logistics Limited |
2.0
|
1.4
|
0.6
|
Pozostałe spółki z branży Trucking
| Nazwa firmy |
Symbol |
Kapitalizacja (mln $) |
EV/EBITDA |
P/E |
P/B |
Giełda |
| Covenant Logistics Group, Inc. |
CVLG |
601 |
5.9 |
17.3 |
1.5 |
NASDAQ Global Select |
| Schneider National, Inc. |
SNDR |
4,311 |
6.3 |
34.2 |
0.9 |
New York Stock Exchange |
| Kerry TJ Logistics Company Limited |
2608.TW |
539 |
3.2 |
16.4 |
1.3 |
Taiwan |
| Tegma Gestão Logística S.A. |
TGMA3.SA |
438 |
5.7 |
8.7 |
2.5 |
São Paulo |
| Knight-Swift Transportation Holdings Inc. |
KNX |
6,940 |
5.5 |
41.8 |
1.0 |
New York Stock Exchange |
| Dazhong Transportation (Group) Co., Ltd. |
600611.SS |
1,447 |
11.9 |
94.9 |
1.5 |
Shanghai |
| Enshu Truck Co.,Ltd. |
9057.T |
159 |
4.7 |
9.7 |
1.0 |
Tokyo |
| Beijing Changjiu Logistics Co.,Ltd |
603569.SS |
666 |
19.5 |
71.5 |
1.6 |
Shanghai |
| Heartland Express, Inc. |
HTLD |
639 |
3.3 |
-18.0 |
0.8 |
NASDAQ Global Select |
| TFI International Inc. |
TFII |
7,557 |
3.6 |
20.6 |
2.8 |
New York Stock Exchange |
| Kanda Holdings Co.,Ltd. |
9059.T |
121 |
5.4 |
8.1 |
0.7 |
Tokyo |
| VRL Logistics Limited |
VRLLOG.NS |
280 |
2.7 |
13.4 |
2.3 |
National Stock Exchange of India |
| Shanghai Foreign Service Holding Group CO.,Ltd. |
600662.SS |
1,852 |
14.2 |
11.7 |
2.4 |
Shanghai |
| Marten Transport, Ltd. |
MRTN |
980 |
7.5 |
46.5 |
1.3 |
NASDAQ Global Select |
| Seino Holdings Co., Ltd. |
9076.T |
2,422 |
5.4 |
21.5 |
1.0 |
Tokyo |
| Universal Logistics Holdings, Inc. |
ULH |
633 |
1.7 |
10.4 |
1.0 |
NASDAQ Global Select |
| Maruwn Corporation |
9067.T |
93 |
4.8 |
12.7 |
0.6 |
Tokyo |
| Hengtong Logistics Co., Ltd. |
603223.SS |
987 |
35.2 |
41.7 |
1.8 |
Shanghai |
| TFI International Inc. |
TFII.TO |
7,561 |
3.6 |
20.7 |
2.8 |
Toronto Stock Exchange |
| Mullen Group Ltd. |
MTL.TO |
857 |
0.5 |
11.8 |
1.2 |
Toronto Stock Exchange |
| Shree Vasu Logistics Limited |
SVLL.NS |
105 |
27.0 |
424.7 |
27.1 |
National Stock Exchange of India |
| Lindsay Australia Limited |
LAU.AX |
183 |
1.0 |
10.1 |
1.5 |
Australian Securities Exchange |
| Public Joint Stock Company Globaltruck Management |
GTRK.ME |
163 |
26.6 |
-450.6 |
2.2 |
Moscow Stock Exchange |
| Shanghai Jin Jiang Online Network Service Co., Ltd. |
600650.SS |
1,010 |
37.5 |
55.0 |
2.2 |
Shanghai |
| MingZhu Logistics Holdings Limited |
YGMZ |
61 |
-18.1 |
-0.7 |
0.1 |
NASDAQ Capital Market |
| Saia, Inc. |
SAIA |
8,128 |
12.0 |
27.6 |
3.3 |
NASDAQ Global Select |
| BEST Inc. |
BEST |
56 |
3.7 |
-0.0 |
-0.2 |
New York Stock Exchange |
| Fukuyama Transporting Co., Ltd. |
9075.T |
883 |
1.8 |
15.8 |
0.5 |
Tokyo |
| PT Mandiri Herindo Adiperkasa Tbk |
MAHA.JK |
139 |
5.5 |
9.6 |
1.2 |
Jakarta Stock Exchange |
| Old Dominion Freight Line, Inc. |
ODFL |
32,018 |
17.7 |
29.3 |
7.6 |
NASDAQ Global Select |
| Werner Enterprises, Inc. |
WERN |
1,681 |
2.6 |
32.9 |
1.2 |
NASDAQ Global Select |
| ArcBest Corporation |
ARCB |
1,646 |
4.2 |
10.4 |
1.3 |
NASDAQ Global Select |
| RXO, Inc. |
RXO |
2,458 |
46.5 |
-8.2 |
1.6 |
New York Stock Exchange |
| Chung Lien Co., Ltd |
5604.TWO |
136 |
11.7 |
14.8 |
2.0 |
Taipei Exchange |
| VRL Logistics Limited |
VRLLOG.BO |
281 |
2.7 |
13.4 |
2.3 |
Bombay Stock Exchange |
| P.A.M. Transportation Services, Inc. |
PTSI |
430 |
-11.4 |
-28.0 |
1.7 |
NASDAQ Global Market |
| DEPPON LOGISTICS Co.,LTD. |
603056.SS |
2,376 |
11.6 |
23.6 |
2.0 |
Shanghai |
| Sakai Moving Service Co.,Ltd. |
9039.T |
792 |
9.9 |
13.2 |
1.2 |
Tokyo |
| GuangDong GenSho Logistics Co.,LTD |
603813.SS |
227 |
-44.8 |
-27.8 |
2.9 |
Shanghai |
| ANE (Cayman) Inc. |
9956.HK |
1,265 |
6.6 |
12.0 |
2.7 |
HKSE |
| Yamato Holdings Co., Ltd. |
9064.T |
5,410 |
8.9 |
21.5 |
1.4 |
Tokyo |