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 |
10.0
|
23.8
|
3.2
|
Wal-Mart de México, S.A.B. de C.V. |
10.3
|
19.2
|
4.2
|
Mediana / Wal-Mart de México, S.A.B. de C.V. |
1.0
|
1.2
|
0.8
|
Pozostałe spółki z branży Discount Stores
Nazwa firmy |
Symbol |
Kapitalizacja (mln $) |
EV/EBITDA |
P/E |
P/B |
Giełda |
Tokmanni Group Oyj |
TOKMAN.HE |
642 |
2.7 |
13.2 |
2.1 |
Helsinki |
Distribuidora Internacional de Alimentación, S.A. |
DIA.MC |
2,011 |
2.1 |
-41.4 |
-45.9 |
Madrid Stock Exchange |
Dollar Tree, Inc. |
DLTR |
22,982 |
11.8 |
-7.9 |
6.0 |
NASDAQ Global Select |
Public Joint Stock Company Magnit |
MGNT.ME |
4,748 |
-0.9 |
4.7 |
1.4 |
Moscow Stock Exchange |
Walmart Inc. |
WMT.NE |
765,390 |
17.2 |
39.7 |
8.9 |
NEO |
Dollar Tree, Inc. |
DT3.DE |
17,372 |
258.4 |
-16.7 |
2.3 |
Frankfurt Stock Exchange |
Target Corporation |
TGT |
47,004 |
3.0 |
11.2 |
3.1 |
New York Stock Exchange |
Pan Pacific International Holdings Corporation |
7532.T |
20,221 |
13.9 |
32.5 |
5.0 |
Tokyo |
Dollar General Corporation |
DG |
24,225 |
2.9 |
21.0 |
3.1 |
New York Stock Exchange |
Best Mart 360 Holdings Limited |
2360.HK |
269 |
3.7 |
8.5 |
3.9 |
HKSE |
E-MART Inc. |
139480.KS |
1,818 |
-1.6 |
-4.7 |
0.2 |
KSE |
BJ's Wholesale Club Holdings, Inc. |
BJ |
13,824 |
10.3 |
24.0 |
7.0 |
New York Stock Exchange |
PriceSmart, Inc. |
PSMT |
3,373 |
12.0 |
22.7 |
2.7 |
NASDAQ Global Select |
Pepco Group N.V. |
PCO.WA |
3,491 |
4.9 |
19.6 |
3.0 |
Warsaw Stock Exchange |
Europris ASA |
EPR.OL |
1,558 |
5.2 |
22.3 |
4.0 |
Oslo Stock Exchange |
Avenue Supermarts Limited |
DMART.NS |
30,582 |
57.6 |
97.5 |
12.3 |
National Stock Exchange of India |
Jason Co., Ltd. |
3080.T |
58 |
16.6 |
25.0 |
1.4 |
Tokyo |
Costco Wholesale Corporation |
0I47.L |
423,175 |
36.9 |
53.8 |
15.6 |
London Stock Exchange |
Costco Wholesale Corporation |
CTO.DE |
423,344 |
33.2 |
54.0 |
15.6 |
Frankfurt Stock Exchange |
Costco Wholesale Corporation |
COST.BA |
421,744 |
33.1 |
0.3 |
0.1 |
Buenos Aires |
Walmart Inc. |
WMT.DE |
758,564 |
17.1 |
40.5 |
9.1 |
Frankfurt Stock Exchange |
Target Corporation |
DYH.DE |
46,485 |
3.4 |
11.1 |
3.1 |
Frankfurt Stock Exchange |
Target Corporation |
TGT.BA |
47,328 |
4.6 |
0.5 |
0.1 |
Buenos Aires |
Mr Max Holdings Ltd. |
8203.T |
188 |
1.7 |
11.3 |
0.8 |
Tokyo |
Avenue Supermarts Limited |
DMART.BO |
30,573 |
57.6 |
97.5 |
12.3 |
Bombay Stock Exchange |
Walmart Inc. |
WMT |
758,539 |
18.5 |
40.5 |
9.1 |
New York Stock Exchange |
Costco Wholesale Corporation |
COST.NE |
433,113 |
33.9 |
52.8 |
15.3 |
NEO |
PT Midi Utama Indonesia Tbk |
MIDI.JK |
844 |
7.9 |
23.8 |
3.2 |
Jakarta Stock Exchange |
B&M European Value Retail S.A. |
BME.L |
3,186 |
0.0 |
6.6 |
3.2 |
London Stock Exchange |
Zhongbai Holdings Group Co.,Ltd |
000759.SZ |
692 |
-9.8 |
-8.3 |
3.0 |
Shenzhen |
PLANT Co.,Ltd. |
7646.T |
69 |
4.3 |
50.4 |
0.7 |
Tokyo |
Dollarama Inc. |
DOL.TO |
37,932 |
21.5 |
42.4 |
39.4 |
Toronto Stock Exchange |
Wal-Mart de México, S.A.B. de C.V. |
WALMEX.MX |
49,715 |
9.3 |
17.6 |
3.8 |
Mexico |
BBB Foods Inc. |
TBBB |
2,984 |
14.9 |
116.1 |
13.3 |
New York Stock Exchange |
Costco Wholesale Corporation |
COST |
421,724 |
36.9 |
53.8 |
15.6 |
NASDAQ Global Select |
TRIAL HOLDINGS INC |
141A.T |
1,981 |
15.5 |
28.6 |
2.4 |
Tokyo |
Seria Co., Ltd. |
2782.T |
1,490 |
14.1 |
13.6 |
2.1 |
Tokyo |
Fix Price Group PLC |
FIXP.ME |
1,489 |
1.8 |
3.8 |
2.4 |
Moscow Stock Exchange |
Ollie's Bargain Outlet Holdings, Inc. |
OLLI |
8,107 |
24.9 |
40.3 |
4.7 |
NASDAQ Global Market |
The Reject Shop Limited |
TRS.AX |
169 |
1.3 |
40.7 |
1.3 |
Australian Securities Exchange |