Methodology and issues
Valuation by Multiples in the Airline Industry
Créé le
26.11.2019Derrière son apparente simplicité, la valorisation d’une entreprise par les multiples nécessite de faire de nombreux choix méthodologiques. Expérimenter le recours à des méthodes de mesures alternatives de la valorisation des entreprises dans le secteur du transport aérien permet d'estimer leur valorisation avec moins d’erreurs.
When it comes to company valuation, multiples are employed extensively, most probably for the simplicity of the concept. Calculating the ratio between the current (market) value of the company, and a specific yearly indicator (e.g. the Net earnings, the Ebit or the Sales), or extracting this ratio from a database, can lead to a quick and almost effortless company valuation. However, behind the apparent simplicity, practitioners have to make many methodological choices. For some professionals, multiple valuation is even viewed as a form of “art”, where they tend to trust more their experience ...
