Any advice on how to develop better intuition about valuation multiples? Not just for comparable or transaction analysis but also to benchmark it against the company's metrics (e.g. if it trades at 15x EBITDA and grows sales 7% on average per annum, is this acceptable)
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Dispersion is important. The interquartile range (values between the 25th percentile and 75th percentile) will often be more meaningful than an average/median. I also like harmonic means, there's a lot written on the theoretical math/principles behind using the harmonic mean for multiples instead of the average.
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