Oceňování 2022, 15(1):3-16 | DOI: 10.18267/j.ocenovani.271

Methodological approach to business valuation by market multiples

Štěpán Kohoutek1, Pavla Maříková2
1 Ing. Štěpán Kohoutek, Vysoká škola ekonomická, Fakulta financí a účetnictví, Katedra financí a oceňování podniku
2 doc. Ing. Pavla Maříková, Csc., Vysoká škola ekonomická, Fakulta financí a účetnictví, Katedra financí a oceňování podniku

Valuation by market multiples can be considered one of the most popular and widely used valuation methods of a company. This paper deals with the proposal of a methodological approach to the valuation of a company by market multiples. The main source of information for this paper was a literature search of best practice applications and research studies. The main focus was on the different parts of the valuation procedure from the selection of a peer group to the control premium. Thus, the output of this article is a summary of the most important factors that a valuator should consider when valuing a company using market multiples.

Keywords: Market multiples; Valuation; Methodology
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Článek je zpracován jako jeden z výstupů výzkumného projektu Fakulty financí a účetnictví na VŠE v Praze "Nové výzvy Corporate Finance v České republice 2.0" registrovaného u Interní grantové agentury VŠE v Praze pod registračním číslem F1/58/2021 a výzkumného projektu Fakulty financí a účetnictví VŠE Praha, který je realizován v rámci institucionální podpory VŠE IP100040.

JEL classification: G12, G34

Published: May 12, 2022  Show citation

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Kohoutek, Š., & Maříková, P. (2022). Methodological approach to business valuation by market multiples. Oceňování, 15(1), 3-16. doi: 10.18267/j.ocenovani.271
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