FCF Valuation Monitor

FCF regularly engages in comprehensive research on the public German small- / midcap market segment based on publicly available data. The findings are published quarterly in the

FCF VALUATION MONITOR

The FCF Valuation Monitor for the German small- / mid-cap market includes:
Comprehensive Sector Coverage:
  • Automotive Supply
  • Communications Services
  • Construction Products / Services
  • Consumer Products / Services
  • Hightech / Advanced Machinery
  • Industrial / Business Services
  • Industrial Machinery
  • Industrial Materials
  • Industrial Products

  • Internet Products / Services
  • IT Services
  • Media & Entertainment
  • Pharma & Healthcare
  • Renewable Products / Services
  • Software
  • Technology
  • Transportation & Logistics
Comprehensive Sector Coverage:
  • Automotive Supply
  • Communications Services
  • Construction Products / Services
  • Consumer Products / Services
  • Hightech / Advanced Machinery
  • Industrial / Business Services
  • Industrial Machinery
  • Industrial Materials
  • Industrial Products
  • Internet Products / Services
  • IT Services
  • Media & Entertainment
  • Pharma & Healthcare
  • Renewable Products / Services
  • Software
  • Technology
  • Transportation & Logistics

Market Fundamentals: Development of market indices and sector indices

Market Valuation: Development of valuation multiples (EV/EBITDA, EV/EBIT, P/E)

Sector Comparisons: Analysis and comparison of sectors across key financial metrics (Sales- & EBITDA growth rates, Margins, Leverage, Valuation)

Key findings of the FCF Valuation Monitor (Q1 2024): 

  • Over the past quarter, all four major German indices showed positive performances between +10.3% and +0.5%. The DAX outperformed significantly all other German indices, reaching one record high after another over the past few weeks 
  • Based on 2024 and 2025 EBITDA-multiples, the Software, Internet Products / Services and Pharma & Healthcare peer groups show the highest valuations at 15.7x, 13.5x and 12.3x in 2024 and 14.4x, 8.6x and 9.3x in 2025, respectively 
  • Meanwhile, the Consumer Products / Services, Construction Products / Services and Automotive Supply peer groups show the lowest valuations at 5.0x, 5.3x and 5.9x in 2024 and 4.6x, 4.8x and 4.7x in 2025, respectively

To access the full report, please click here. 

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

SMALLCAP / MIDCAP RESEARCH SERIES

The FCF SmallCap / MidCap research reports are periodically updated and cover eight specific sectors as well as certain general capital market developments. Based on the data of publicly listed European corporates, the respective sector and market are individually analyzed. Our systematic analyses include information to, amongst others:

Sector Research

Automotive Supplier Market Study
Research on the automotive supplier sector based on available data from European automotive suppliers.

European Chemicals Market Study
Research on the chemicals sector based on available data from European chemical companies.

Forestry Paper and Packaging Market Study Cover GenericForestry, Paper and Packaging Market Study Research on the forestry, paper and packaging sector based on available data from European forestry, paper and packaging companies.

Industrial Machinery Market Study
Research on the industrial machinery sector based on available data from European industrial machinery companies.

Metals and Materials Market Study CoverMetals & Materials Market Study
Research on the metals & materials sector based on available data from European metals & materials producers.

Logistics & Transportation Market Study
Research on the logistics and transport sector based on publicly available data from European logistics and transportation providers.

European Infrastructure & Construction Market Study
Research on the logistics and transport sector based on publicly available data from European logistics and transportation providers.

Pharmaceutical Market Study CoverEuropean Pharmaceutical Market Study
Research on the pharma sector based on available data from European pharma companies.

Pharmaceutical Market Study CoverTMT Market Study
Research on the TMT sector based on available data from European TMT companies.

Recycling Services Market Study CoverEuropean Recycling Services Market Study
Research on the recycling services sector based on available data from European recycling services companies.

Market Research

The FCF market research covers e.g. fundamental analysis of interest rate and margin development in the German corporate lending / debt market, development of the rating and credit standing of banks addressing the German MidCap corporate lending market, etc.

Bank Monitor
Analysis of the historic and current spreads of credit default swaps for banks most active in the German corporate lending market.

IPO Market Monitor
Providing relevant valuation metrics (e.g. ratios, multiples), general information and performance data of European IPOs that have been issued within the last six months.

Valuation Monitor
The FCF Valuation Monitor is a comprehensive quarterly valuation analysis (e.g. ratios and multiples) for the German small / midcap market segment of selected industry sectors.

Interest & Corporate Loan Monitor
Comprehensive analysis of the interest rate environment and loan market for corporates in Germany.

NEWS & PRESS

thumbnail of 2023-12-31 – Bank Monitor Q4 2023

FCF Bank Monitor – Q4 2023 published

FCF Fox Corporate Finance GmbH is delighted to publish the new “FCF Bank Monitor – Q4 2023”. FCF regularly engages in research on the banking sector based on available data from the most active and

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