---
title: FCF Valuation Monitor - Q2 2023 published
description: FCF Fox Corporate Finance GmbH is delighted to publish the new “FCF Valuation Monitor – Q2 2023”. The FCF Valuation Monitor is a comprehensive valuation analysis for the German small / midcap market segment and ... Read more
---

[Research ](https://www.fcf.de/en/resources/research)

# [FCF Valuation Monitor - Q2 2023 published](https://www.fcf.de/en/resources/research/fcf-valuation-monitor-q2-2023-published)

 Written by [Admin](https://www.fcf.de/en/resources/research/author/admin) | Jul 17, 2023 6:00:00 AM

FCF Fox Corporate Finance GmbH is delighted to publish the new “**FCF Valuation Monitor – Q2 2023**”.

The FCF Valuation Monitor is a comprehensive valuation analysis for the German small / midcap market segment and is published by FCF on a quarterly basis.

Key findings of the FCF Valuation Monitor (Q2 2023):

- Over the past quarter, all four major German indices were mostly stable with performances between +3.3% (DAX) and -3.7% (TecDAX), despite the aftermath of the banking crisis and the US debt ceiling discussions
- The highest valuations in 2022 were achieved by companies in the **Software** (19.1x), **Internet Products / Services** (18.2x) and **IT Services** (13.3x) sectors (basis: EV / EBITDA multiple). Considering the forecasts for 2023, the **Software** (16.5x) and **Internet Products / Services **(16.2x) sectors show once again the highest valuations, closely followed by the **Renewable Products / Services** (16.1x) peer group
- Meanwhile, the **Communications Services** and **Industrial Materials** sectors show the lowest valuations at 4.9x and 6.2x in 2022 and 6.8x and 6.2x in 2023, respectively

To access the full report, please click [here](https://www.fcf.de/resources/research/download-request-fcf-valuation-monitor?hsLang=en).

[View full post](https://www.fcf.de/en/resources/research/fcf-valuation-monitor-q2-2023-published)

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