What are the steps to calculate EV with comps?

Hello guys,

I have a silly question but I can't find the answer anywhere.
I know how we select our peers (trading/transactions) and which databases we should use (MergerMarket, CapIq, FactSet, ...). However, I don't know what we do afterwards. Several times in interviews I was asked what are the restatements we have to do to our comps, which EBITDA to choose (forward, past...) and why, how we organize our Excel sheet, etc.
So could someone tell me in detail what are the steps for trading comps and transaction comps?

Thanks guys

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