Metoda mnożnikowa – opiera się na porównaniu mnożników firm z branży, w której działa wyceniana spółka (np.
EV/EBITDA, P/E, P/BV). Metoda ta bardzo dobrze odzwierciedla bieżący stan rynku, wymaga mniejszej liczby założeń
oraz jest prostsza w zastosowaniu.
Do jej wad można zaliczyć dużą podatność wyceny na zmienność cen porównywanych spółek, subiektywny dobór
porównywalnych firm oraz uproszczenie obrazu spółki prowadzące do pominięcia bardzo istotnych parametrów (np.
przewaga konkurencyjna, tempo wzrostu, poziom rentowności, strukturę zadłużenia).
|
EV/EBITDA TTM |
P/E TTM |
P/B TTM |
| Mediana dla branży |
17.4
|
31.8
|
4.3
|
| B3 S.A. - Brasil, Bolsa, Balcão |
6.9
|
15.2
|
3.8
|
| Mediana / B3 S.A. - Brasil, Bolsa, Balcão |
2.5
|
2.1
|
1.1
|
Pozostałe spółki z branży Financial - Data & Stock Exchanges
| Nazwa firmy |
Symbol |
Kapitalizacja (mln $) |
EV/EBITDA |
P/E |
P/B |
Giełda |
| Deutsche Börse AG |
DB1.DE |
56,449 |
14.5 |
19.6 |
4.3 |
Frankfurt Stock Exchange |
| Smartbroker Holding AG |
SB1.DE |
224 |
123.3 |
-30.7 |
4.0 |
Frankfurt Stock Exchange |
| HUB24 Limited |
HUB.AX |
5,570 |
72.4 |
149.8 |
16.7 |
Australian Securities Exchange |
| NZX Limited |
NZX.NZ |
302 |
6.6 |
19.8 |
4.0 |
NZSE |
| B3 S.A. - Brasil, Bolsa, Balcão |
B3SA3.SA |
12,143 |
6.1 |
14.3 |
3.6 |
São Paulo |
| Morningstar, Inc. |
MORN |
12,190 |
15.8 |
32.1 |
7.7 |
NASDAQ Global Select |
| S&P Global Inc. |
SPGI |
160,873 |
21.6 |
40.8 |
4.8 |
New York Stock Exchange |
| ICRA Limited |
ICRA.NS |
753 |
26.5 |
38.1 |
6.1 |
National Stock Exchange of India |
| Japan Exchange Group, Inc. |
8697.T |
10,215 |
14.6 |
24.9 |
4.5 |
Tokyo |
| Moody's Corporation |
MCO |
89,909 |
29.2 |
42.7 |
24.3 |
New York Stock Exchange |
| CME Group Inc. |
CME |
98,990 |
19.5 |
27.2 |
3.7 |
NASDAQ Global Select |
| Cboe Global Markets, Inc. |
CBOE |
24,969 |
17.4 |
31.0 |
5.6 |
New York Stock Exchange Arca |
| Value Line, Inc. |
VALU |
355 |
51.9 |
16.5 |
3.6 |
NASDAQ Capital Market |
| Nasdaq, Inc. |
NDAQ |
51,309 |
16.8 |
40.2 |
4.5 |
NASDAQ Global Select |
| Morningstar Japan K.K. |
4765.T |
384 |
18.8 |
34.7 |
3.7 |
Tokyo |
| TMX Group Limited |
X.TO |
11,447 |
7.3 |
35.0 |
3.4 |
Toronto Stock Exchange |
| London Stock Exchange Group plc |
LSEG.L |
76,432 |
16.5 |
84.0 |
2.5 |
London Stock Exchange |
| BSE Limited |
BSE.NS |
11,543 |
56.0 |
76.2 |
18.2 |
National Stock Exchange of India |
| Singapore Exchange Limited |
S68.SI |
13,155 |
24.2 |
25.9 |
8.4 |
Stock Exchange of Singapore |
| CRISIL Limited |
CRISIL.NS |
5,011 |
41.1 |
61.1 |
16.8 |
National Stock Exchange of India |
| Hong Kong Exchanges and Clearing Limited |
0388.HK |
69,257 |
38.0 |
38.4 |
10.5 |
HKSE |
| Bolsa Mexicana de Valores, S.A.B. de C.V. |
BOLSAA.MX |
1,234 |
8.9 |
11.8 |
2.6 |
Mexico |
| ICRA Limited |
ICRA.BO |
753 |
26.5 |
38.1 |
6.1 |
Bombay Stock Exchange |
| Bursa Malaysia Berhad |
1818.KL |
1,460 |
15.3 |
20.4 |
8.5 |
Kuala Lumpur |
| Gielda Papierów Wartosciowych w Warszawie S.A. |
GPW.WA |
634 |
13.4 |
13.5 |
2.1 |
Warsaw Stock Exchange |
| Coinbase Global, Inc. |
1QZ.DE |
104,974 |
52.0 |
63.6 |
8.9 |
Frankfurt Stock Exchange |
| CRISIL Limited |
CRISIL.BO |
5,012 |
41.1 |
61.1 |
16.8 |
Bombay Stock Exchange |
| CARE Ratings Limited |
CARERATING.NS |
618 |
28.3 |
38.9 |
6.6 |
National Stock Exchange of India |
| Multi Commodity Exchange of India Limited |
MCX.BO |
4,875 |
57.0 |
75.0 |
14.9 |
Bombay Stock Exchange |
| Multi Commodity Exchange of India Limited |
MCX.NS |
4,875 |
57.0 |
75.0 |
14.9 |
National Stock Exchange of India |
| Aquis Exchange PLC |
AQX.L |
254 |
89.3 |
-77.7 |
7.4 |
London Stock Exchange |
| Hellenic Exchanges - Athens Stock Exchange S.A. |
EXAE.AT |
496 |
17.4 |
22.8 |
3.9 |
Athens |
| MSCI Inc. |
MSCI |
44,699 |
22.6 |
39.3 |
-46.8 |
New York Stock Exchange |
| Dun & Bradstreet Holdings, Inc. |
DNB |
4,067 |
0.9 |
-186.0 |
1.2 |
New York Stock Exchange |
| Smartbroker Holding AG |
SB1.BE |
223 |
123.3 |
-30.7 |
4.0 |
Berlin |
| NICE Holdings Co., Ltd. |
034310.KS |
347 |
0.0 |
9.8 |
0.6 |
KSE |
| Euronext N.V. |
ENX.PA |
17,454 |
13.8 |
25.5 |
3.7 |
Paris |
| CARE Ratings Limited |
CARERATING.BO |
618 |
28.3 |
38.9 |
6.6 |
Bombay Stock Exchange |
| Intercontinental Exchange, Inc. |
ICE |
103,660 |
13.6 |
37.3 |
3.7 |
New York Stock Exchange |
| Dubai Financial Market P.J.S.C. |
DFM.AE |
3,919 |
30.2 |
34.8 |
1.7 |
Dubai |
| EUWAX Aktiengesellschaft |
EUX.F |
289 |
74.6 |
30.1 |
3.0 |
Frankfurt |
| ASX Limited |
ASX.AX |
9,112 |
2.3 |
31.9 |
3.7 |
Australian Securities Exchange |
| Intercontinental Exchange, Inc. |
IC2.DE |
107,292 |
15.6 |
39.2 |
3.9 |
Frankfurt Stock Exchange |
| FactSet Research Systems Inc. |
FDS |
16,356 |
18.0 |
30.8 |
7.6 |
New York Stock Exchange |
| East Money Information Co.,Ltd. |
300059.SZ |
52,282 |
31.1 |
35.8 |
4.5 |
Shenzhen |
| Shanghai DZH Limited |
601519.SS |
3,595 |
-229.7 |
-238.3 |
21.8 |
Shanghai |