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DUB SME Multiples
Company valuation with multiples for SMEs
How much is my company worth? In a business transaction this is one of many — and one of the most important — questions. Your company is often a life’s work and therefore carries a special sentimental value. But that value frequently does not match the real value achievable in a sale.
The current DUB SME Multiples as of Q2/26
| Industry | Micro-Cap (< €5m) | Small-Cap (€5–50m) | Mid-Cap (> €50m) | |||
|---|---|---|---|---|---|---|
| from | to | from | to | from | to | |
| Machinery & Plant Engineering | 3.5 | 4.5 | 4.6 | 6.0 | 5.6 | 7.1 |
| Vehicle Manufacturing & Automotive | 2.8 | 4.5 | 3.8 | 5.1 | 4.7 | 6.1 |
| Electrical Engineering & Electronics | 4.2 | 6.2 | 5.5 | 8.0 | 6.9 | 8.7 |
| Metalworking & Manufacturing Technology | 3.4 | 4.2 | 3.9 | 5.4 | 4.8 | 7.0 |
| Chemicals, Plastics & Packaging | 3.6 | 4.6 | 5.2 | 6.4 | 6.4 | 8.1 |
| Medical Technology & Life Sciences | 6.1 | 8.0 | 6.8 | 9.0 | 8.0 | 9.8 |
| Software & Digital Platforms | 6.3 | 8.0 | 7.8 | 9.5 | 8.5 | 10.9 |
| IT Services & System Integrators | 5.7 | 6.8 | 6.8 | 8.5 | 8.1 | 10.5 |
| Media, Marketing & Agencies | 3.1 | 5.0 | 4.9 | 6.6 | 6.1 | 7.7 |
| Telecommunications & Infrastructure | 4.8 | 6.7 | 5.9 | 7.9 | 6.8 | 8.4 |
| Healthcare: Care & Service Providers | 4.0 | 6.0 | 5.5 | 7.2 | 7.7 | 9.6 |
| Business Services (B2B) | 3.5 | 5.5 | 5.0 | 7.0 | 6.1 | 7.4 |
| Main & Ancillary Construction (Trades) | 3.8 | 5.0 | 4.4 | 5.8 | 5.8 | 7.2 |
| Real Estate Services & Facility Mgmt. | 4.1 | 5.0 | 5.2 | 6.7 | 6.3 | 7.6 |
| Financial Services & Insurance Brokers | 5.0 | 6.5 | 6.0 | 7.7 | 7.9 | 9.4 |
| Food & Beverages | 4.4 | 5.8 | 5.5 | 7.0 | 6.7 | 8.0 |
| Consumer Goods (Non-Food) | 2.4 | 4.0 | 3.5 | 5.5 | 4.6 | 6.1 |
| Retail: E-Commerce & Mail Order | 4.3 | 6.9 | 5.4 | 7.3 | 7.5 | 9.4 |
| Retail: Wholesale & Brick-and-Mortar | 3.4 | 5.0 | 4.4 | 5.6 | 5.1 | 6.8 |
| Transport, Logistics & Freight Forwarding | 3.7 | 5.2 | 4.5 | 5.6 | 5.6 | 7.0 |
Calculate your company value directly
Use our free calculator to determine the value of your company based on the current EBITDA multiples.
To the calculatorDownload EBIT and revenue multiples
The full DUB SME Multiples Report Q2/2026 additionally contains EBIT and revenue multiples for all 20 industries – free as a PDF.
View the reportExample calculation
Example calculation based on the values in the table above: a media company has an adjusted EBITDA of €0.5m x an EBITDA factor of 5.0 = an enterprise value of €2.5m.
A price range (min./max.) is given for each industry segment, i.e. the majority of companies operating in that industry fall within the stated range. Even so, in justified individual cases prices outside the stated range can occur. When judging the appropriate multiple yourself, you should consider the specifics of the company, such as: dependence on the owner relative to competitors, dependence on or independence from individual customers, the usability of distinctive unique-selling and differentiation features versus competitors, and growth potential compared to competitors. The enterprise value is not the same as the value of the equity. To calculate the equity, the interest-bearing liabilities have to be deducted from the enterprise value, since these have to be repaid to or assumed by the lender. Cash that is not operationally required, on the other hand, can be distributed to the shareholders. The remaining portion is due to the shareholders as equity.
How much is my company worth?
Alongside the capitalized-earnings method or the DCF method, EBITDA tables are a common tool for approximating enterprise values. They contain so-called multipliers (multiples) that, depending on industry and company size, provide the basis for a valuation. The problem: most tables analyse large or even listed companies. These have little in common with the market-price environment of small and medium-sized enterprises (SMEs), which lies between 1 and 20 million euros. Here the multiples — and therefore the valuations — are on average significantly lower. This often results in owners making serious misjudgements, sometimes with grave consequences.
The DUB SME Multiples are based on the aggregated market assessments of more than 25 leading M&A advisors and financial institutions in the German-speaking region. The data is updated quarterly.