FCF TMT Market Study 2020 – published

FCF Fox Corporate Finance GmbH is pleased to publish the new “FCF TMT Market Study – 2020”..

Based on available data from European TMT companies, the FCF TMT Market Study is a detailed and comprehensive analysis of the TMT sector and especially addresses the European small/midcap market segment.

Key findings of the FCF TMT Market Study are:
  • Revenue is expected to decrease by -9.6% from ’19 to ’20
  • EBITDA is expected to increase by 6.3% from ’19 to ’20
  • EBIT is expected to decrease by -10.9% from ’19 to ’20
  • EV / EBITDA valuation multiple increased from 14.9x in ’19 to 16.0x LTM
  • EV / EBIT valuation multiple increased from 21.4x in ’19 to 24.7x LTM
  • Interest cover ratio decreased from 24.9x in ’19 to 22.4x LTM
  • Implied cost of capital (WACC) decreased from 6.4% in ’19 to 5.7% LTM
  • The number of Private Equity (PE) and M&A deals decreased from 990 in ’18 to 605 in ’19 (PE) and from 1,421 to 818 (M&A)

To access the full report, please click here.

By Marcel Lange, Tristan Blümli, Marco Buonafede and Yasmin Herrmann.