privateMetrics® EBITDA multiples
23.1x
0.26
Education & public
 Feb 2024
20.2x
0.06
Financials
 Feb 2024
22.7x
0.03
Health
 Feb 2024
18.4x
0.1
Hospitality and entertainment
 Feb 2024
21.3x
0.11
Information and communication
 Feb 2024
18.8x
0.08
Manufacturing
 Feb 2024
16.4x
0.03
Natural resources
 Feb 2024
16.9x
0.1
Professional and other services
 Feb 2024
19.0x
0.07
Real estate and construction
 Feb 2024
19.4x
0.05
Retail
 Feb 2024
29.6x
0.24
Transportation
 Feb 2024
16.0x
0.12
Utilities
 Feb 2024
15.7x
0.05
Private2000
 Feb 2024
17.1x
0.06
Private3000
 Feb 2024
18.7x
0.08
United States
 Feb 2024
20.6x
0.08
Europe
 Feb 2024
24.2x
0.04
Asia
 Feb 2024

privateMetrics® Valuation Data

Advanced valuation inputs for private equity investments that mitigate the issue of outdated Net Asset Values (NAVs) and facilitate the implementation of nowCasting valuations on a monthly basis. Reliable and supported data produced by a dedicated team.
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Strength in Numbers

privateMetrics relies on a model that processes prices from tens of thousands of private market transactions. This model accurately predicts average private asset prices by market segment and is used to estimate the value of thousands of other private companies each month. This minimises and averages errors across segments, ensuring reliable market averages. The results can be customised to assess individual assets, enabling realistic comparisons.
0+
Financial & Valuation Metrics
.1M
Companies priced over 10 years
0k
companies priced monthly
0+
countries
1+
PECCS segment combinations
0M
prices commuted since 2013

ARE YOU USING THE RIGHT Data?

Reported multiples are..

  • not robust at the sector level.
  • not actual comparables controlling for geography and asset risk profile.
  • the source of large valuation errors if used as is.
  • 90% model-based (using a range of different models and assumptions) i.e., only 10% of the data come from actual transactions.

Conclusion: if raw reported data are not good enough, and most reported private market data is the product of a model, ergo it is essential to have a robust model and the right data!

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Using privatemetrics data

As an input for asset valuation and validation
  • Investors and valuers who need a valuation starting point or anchor can use privateMetrics to find the most up to date level of valuations for private  companies of any kind. For a given segment and geography, they can access estimates of EBITDA multiples implied by current transactions and adjust them for the risk factor profile of any asset under consideration.  From this Market Valuation Anchor (MVA), various asset or deal-level, adjustments can be also made.

  • Investors looking to review or question reported valuations can utilize PrivateMetrics to calculate a price multiple for the relevant segment, geography, and risk profile. This method mirrors a valuer's logic, providing a robust comparison. The multiple provided by InfraMetrics, based on hundreds of data points, is a true comparable, closely matching the profile of the asset under review and offering the most reliable benchmark available.

As a check on the level of market prices

  • Investors engaged in acquisition or divestiture activities within evergreen funds or secondary markets can employ PrivateMetrics to accurately assess the average market pricing with high robustness and granularity. This tool enables them to refine their bid prices strategically and substantiate the variance between the average market price and the specific bid-ask spread of a transaction.

As a NAV nowCasting tool

  • Investors requiring more frequent updates to Net Asset Value (NAV) estimates than the typical reporting intervals can leverage PrivateMetrics for "nowCasting" portfolio values. This process utilizes the month-on-month valuation changes of a benchmark that represents the average progression of private market prices for specific segments and risk profiles. This allows for timely and precise adjustments to NAV estimations and avoid having to make weak assumptions about the correlations between public and private markets over time.
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A WEALTH OF private equity VALUATION DATA

PrivateMetrics valuation data accurately reflect the market and serve as a reliable benchmark for valuing individual assets based on specific segments, geographical locations, and risk profiles. While this data doesn't provide an exact price for an individual asset, it offers an essential systematic starting point for evaluating private equity investments as of a particular date. From this benchmark, specific adjustments can be made to the asset's initial valuation, potentially altering the final price considerably. These adjustments account for the unique characteristics of each asset's value. Thanks to a very large dataset of shadow prices, privateMetrics allows slicing and dicing valuation multiples to get a granular yet robust valuation starting point.

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Read the latest research

The Valuation of Private Companies

The Valuation of Private Companies: Asset Valuation and the Dynamics of Private Markets

This paper proposes a factor model based solution that, when calibrated with transaction data and novel risk factors, can transform sparse, noisy, and biased transaction data into meaningful information that aids asset allocation, benchmarking, and monitoring of private investments....

WATCH THE VIDEO

INFRASTRUCTURE: WHY Getting the discount rate Right MATTERS

Available in your quant system

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