Does anyone know any free resources online to find industry average EBITDA multiples, specifically for medical supply companies? I need to figure out how to value a small medical supply reseller that does below around $100M in EBITDA.
Does anyone have any places online where you go to find ideas of what the industry multiples ranges are?
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Just ask people to pull some comps for you. I may have time later if no one replys
EBITDA multiples for what? Market cap? Just google some comparables and pull their most recent filings from EDGAR. Google the market price of their common equity, check their 10-K or Q to see how many shares are outstanding, multiply that by the price. Derive EBITDA from those same documents. do this for like 5 companies, then take the average. There's your multiple.
Really? That'd be great. When you say "pull comps", what do you mean?
NYCbander, yes but no publicly-traded company I've found sells the same product that the company I need to value sells:/
Doesn't matter about the exact product. Pick some reasonably close companies and then make up some bull shit to support your choices. I mean - welcome to banking. You do what you can with imperfect information. Sack the fuck up and find some comps. You need to generate a multiple, generate a multiple. What is it with all this bitching and excuses on this website? If a company isn't public, you're not going to find their financials on any public database, and even if you have access to their financials b/c you worked on some private side transaction for them or something, you've probably signed a confi and can't use them.
If you're looking to value on a market cap basis, which you still haven't made clear, find public comps. Period. Do you think banks pay 22 year olds 6 figures for their first job out of college to hear you bitch about comps?
NYCbandar, I'm looking to value on a market cap basis. Thanks.
Look, you can find public comps. They don't have to be perfect, just defensible. If you absolutely can not find any standalone public comps, which I don't believe, look in the notes to the financial statements of big conglomerates that have a division doing the same job. They often have division level revenue breakdowns. Derive EBITDA for that division and value the division on a pro rata basis, footnote that bitch, and move on. Obviously it's a shitty methodology, but methodology doesn't matter.
This is a broader lesson for all you baby monkeys - banking is not a science. It's a bunch of made up numbers. Your MD doesn't give a shit that your numbers are valid, he cares that they tie, and that they're defensible. When someone tells you to give them an answer (in this case, show me an EBITDA multiple for this space) you come up with a fucking answer. You don't go back and tell your boss it was too hard. You generate a bullshit number that you can justify. What do you want me to say? Figure it the fuck out. That's the only answer that matters.
If it's this much trouble for you to bullshit an EBITDA multiple, you should stop wasting your time with banking.
You work in PE (or IB) and don't know how to spread comps? Are you kidding me?
As much of a prick as NYCbandar may seem, I kind of agree with him. You should be able to do this.
I feel bad for the kids busting their ass and actually know what they're doing to get to positions like this but never will.
Learn how to use CapIQ kid. Your firm does have access to it right?
I'm no prick, I'm telling it how it is. This isn't college anymore, they don't give you the answers in lecture. If you're an analyst, when you're told to produce a number, you produce a number. Period. Nobody cares if it's hard to find public comps, you find what you can find, you make the necesary assumptions, and you produce the deliverable with the necessary footnote.
We've given him the methodology and told him where to find the data. What am I supposed to do, suck him off and tell him his mother loves him on top of it?
If you maintain this whiney attitude in front of a senior banker, you'll end up on the wrong side of history real quick.
7.
Damn. Looks like your charming personality was of no use here.
That post wasn't to you. It was to the OP. In an earlier topic, he said he got his current position because of his charms.
sounds like this craig busy spreading comps now. on another note, i'm having a difficult time spreading my butt cheeks these days, does anyone have tips on how to get huge shits rumbling out smoothly?
If you get creative enough, you can find historical enterprise multiples from private deals with medical supply companies with similar market capitalizations in the form of white papers of powerpoint presentations by other firms and use those numbers. Public companies are not perfect comparables for a variety of reasons, and if you're going to use those, you have to apply some tricky discount or whatever to it.
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