FCF Valuation Monitor – Q3 2023 published

FCF Fox Corporate Finance GmbH is delighted to publish the new “FCF Valuation Monitor Q3 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 Q3 2023 are: 

  • Over the past quarter, all four major German indices showed a negative performance of -4.0% (SDAX), -4.3% (DAX), -5.0% (TecDAX) and -5.8% (MDAX) as rising interest rates and high inflation continue to harm the global economy 
  • The highest valuations in 2022 were achieved by companies in the Software (20.3x), Internet Products / Services (17.3x) and IT Services (13.4x) sectors (basis: EV / EBITDA multiple). Considering the forecasts for 2023, the Software (15.5x) and Internet Products / Services (16.2x) sectors show once again the highest valuations, followed by the Renewable Products / Services (13.7x) peer group 
  • Meanwhile, the Industrial Materials and Communications Services sectors show the lowest valuations at 6.2x and 6.5x in 2022 and 6.7x and 6.7x in 2023, respectively 

To access the full report, please click here. 

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