EBITDA / EBIT Multiple

Hello everyone,

I understand that asset-heavy companies are typically valued using an EBIT multiple. However, I've noticed many publicly traded companies announce their acquisitions as a multiple of EBITDA.

When I divide the Enterprise Value by EBIT for these acquisitions, the resulting EBIT multiple seems quite high (over 30x).

Am I wrong in thinking that EBIT multiples are more appropriate for asset-heavy industries?

Thanks in advance for your thoughts.