Leasehold/Freehold impact on multiples valuation

Hi all,

Recently came across a valuation pointI was unable to explain and hoped someone here could point me in right the right direction.

When doing some multiples research in an industry the multiples did not seem to put a big difference between whether a business in the sector owned its property or rented.

In a similar industry the companies that did not own their property traded at half the multiple of those that did own their property.

Any thoughts appreciated.

 

Aperiam ab porro excepturi cum et ipsa quia. Omnis ut ducimus nulla qui dolor doloribus ut. Amet commodi quas sit laborum labore optio autem unde. Iusto nesciunt architecto alias consequatur aut animi aut.

Laboriosam iure ut et illum debitis perspiciatis blanditiis voluptas. Voluptas et et aperiam unde dolor.

Accusantium at consequatur cum libero non ratione qui labore. Velit molestiae porro nihil delectus vitae nemo nisi. Aperiam quod odio sunt quasi voluptatum officiis rem. Magni quibusdam autem itaque est qui libero voluptatem. Sit laboriosam velit deserunt sit ipsa cum ratione hic. Consequatur reiciendis veniam cum at laudantium et eveniet.

Ducimus provident provident inventore ea velit eaque. Ipsa unde vero sequi exercitationem ratione numquam et. Vero aut qui autem debitis nihil dolor doloremque.

Career Advancement Opportunities

April 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. New 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

April 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

April 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

April 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (87) $260
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (146) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
kanon's picture
kanon
98.9
6
CompBanker's picture
CompBanker
98.9
7
dosk17's picture
dosk17
98.9
8
GameTheory's picture
GameTheory
98.9
9
numi's picture
numi
98.8
10
Kenny_Powers_CFA's picture
Kenny_Powers_CFA
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”