FCF Valuation Monitor – Q1 2023 published

FCF Fox Corporate Finance GmbH is delighted to publish the new “FCF Valuation Monitor – Q1 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 insights of Q1 2023 are:

  • Over the past quarter, all four major German indices increased strongly with positive performances between 13.8% (TecDAX) and 10.1% (MDAX), despite major disruptions such as the collapse of the Silicon Valley Bank and the takeover of Credit Suisse by UBS
  • The highest valuations in 2022 were achieved by companies in the Software (20.7x), Hightech / Advanced Machinery (15.9x) and Internet Products / Services (15.1x) sectors (basis: EV / EBITDA multiple). Considering the forecasts for 2023, the average EBITDA multiple of the Renewable Products / Services sector (16.6x) even exceeds the valuations of the peers Software (14.9x), Internet Products / Services (11.9x) and Hightech / Advanced Machinery (11.2x).
  • Meanwhile, the Industrial Materials and Automotive Supply sectors show the lowest valuations at 6.7x and 7.2x in 2022 and 6.7x and 5.0x in 2023, respectively

To access the full report, please click here.

By Arno Fuchs, Tristan Blümli, Yasmin Herrmann and Florian Hoch