Using EBITDA Multiplier for Valuation of Companies

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F68407700%3A21630%2F17%3A00315900" target="_blank" >RIV/68407700:21630/17:00315900 - isvavai.cz</a>

Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

Using EBITDA Multiplier for Valuation of Companies

Popis výsledku v původním jazyce

This paper focuses on an issue of corporate valuation. There are several approaches used for the valuation of companies. The methods can be based on owned property, future incomes and cash flows or market values followed by intercompany comparison. This paper will deal with the market values presented by multipliers (multiples). The approach of multipliers is especially presented by the ratio Value/EBITDA and therefore this most used and discussed multiplier is used for further analysis. First general advantages and disadvantages will be introduced. The time stability of the multiplier and differences among markets will be analysed. This paper uses publicly available data published by Damodaran and the own verification is processed on selected industry branches. Tools of descriptive statistics are used for this research. As a conclusion, this paper shows possible threats of using EBITDA multiplier. The values of the multiplier heavily depend on the time and specific market location.

Název v anglickém jazyce

Using EBITDA Multiplier for Valuation of Companies

Popis výsledku anglicky

This paper focuses on an issue of corporate valuation. There are several approaches used for the valuation of companies. The methods can be based on owned property, future incomes and cash flows or market values followed by intercompany comparison. This paper will deal with the market values presented by multipliers (multiples). The approach of multipliers is especially presented by the ratio Value/EBITDA and therefore this most used and discussed multiplier is used for further analysis. First general advantages and disadvantages will be introduced. The time stability of the multiplier and differences among markets will be analysed. This paper uses publicly available data published by Damodaran and the own verification is processed on selected industry branches. Tools of descriptive statistics are used for this research. As a conclusion, this paper shows possible threats of using EBITDA multiplier. The values of the multiplier heavily depend on the time and specific market location.

Druh

D - Stať ve sborníku

CEP obor

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OECD FORD obor

50206 - Finance

Projekt

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Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2017

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

Proceedings of the 5th international scientific conference IFRS: Global Rules and Local Use

ISBN

978-80-906585-4-7

ISSN

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e-ISSN

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Počet stran výsledku

12

Strana od-do

72-83

Název nakladatele

Anglo - American University, Prague

Místo vydání

Praha

Místo konání akce

Praha

Datum konání akce

20. 10. 2017

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

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