Enterprise multiple

I know it is very embarrassing to ask such a question, but if you go below, http://www.investopedia.com/terms/e/ev-ebitda.asp I get the rest of the points but what I don’t get is, “Expect higher enterprise multiples in high growth industries (like biotech) and lower multiples in industries with slow growth (like railways).” The thing that I am confused about is that, when you take a look at growth companies usually they don’t take lots of debt, because they simply can’t afford to take much. Then doesn’t these companies generally have a low enterprise multiple? If you think about growth companies in terms of value, these companies’ values are mostly derived from expectations. On the other hand if you think about those industries like chemical or automobile companies, these firms usually requires a lot of down payment initially, so making the multiple high makes sense then.(If they are in there early stages of development) Where am I thinking it wrong? Or is it just really case-by-case or how you define a growth company?

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