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