Multiple Paradox
The popularity of Multiples among investors is well known. But, recently this trend is catching up amongst executive/ managerial people as well. Some of the common valuation multiples frequently used are Price-to-earnings multiple, Enterprise Value Multiples etc.
Valuation multiples are the quickest way to value a company and are useful in comparing similar companies (comparable company analysis or relative valuation technique). They attempt to capture many of a firm's operating and financial characteristics (e.g. expected growth) in a single number that can be multiplied by some financial metric (e.g. EBITDA) to yield an enterprise or equity value. Multiples are expressed as a ratio of capital investment to a financial matrix attributable to providers of that capital.
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