Value/EBITDA Multiples by SIC Code

SIC Code Industry Value/EBITDA CEx/EBITDA Depr/EBITDA Standard Deviation in EBITDA
1 Agricultural - Crops 22.38 51.28% 46.31% 33.63%
8 Forestry 6.18 59.63% 13.04% 32.15%
10 Fishing, Hunting and Trappin 25.25 371.34% 134.97% 53.99%
12 Coal Mining 6.57 48.02% 65.11% 37.00%
13 Oil and Gas Extraction 12.02 184.07% 95.31% 47.36%
14 Mining of Non-metals 23.00 171.68% 170.34% 52.47%
15 Building Contractors 15.79 13.85% 15.74% 51.53%
16 Heavy Construction 11.30 98.96% 85.80% 49.75%
17 Construction- Special Trade 4.85 59.80% 53.48% 30.95%
20 Food and Kindred Products 10.39 50.99% 34.11% 30.91%
21 Tobacco Products 10.42 14.96% 23.90% 41.73%
22 Textile Mill Products 7.13 40.13% 33.97% 27.40%
23 Apparel & Other Finished Products 12.37 41.15% 33.18% 48.31%
24 Lumber & Wood Products 7.29 44.04% 25.35% 48.53%
25 Furniture & Fixtures 7.91 36.95% 24.87% 34.14%
26 Paper & Allied Products 9.33 61.62% 44.83% 29.00%
27 Printing & Publishing 9.46 36.55% 41.16% 26.70%
28 Chemicals & Allied Products 11.76 52.31% 45.35% 34.18%
29 Petroleum Refining 8.33 86.81% 57.44% 30.68%
30 Rubber & Plastic Products 9.49 51.68% 35.24% 26.57%
31 Leather & Leather Products 8.95 24.12% 15.30% 43.62%
32 Stone, Clay, Glass & Concrete 9.03 56.00% 35.50% 34.25%
33 Primary Metal Industries 9.64 80.62% 50.08% 49.10%
34 Fabricated Metal Products 7.49 37.01% 34.25% 34.73%
35 Industrial & Commercial Machinery 11.26 48.61% 44.35% 49.45%
36 Electronic and Electrical Equipment 10.37 43.46% 37.04% 47.58%
37 Transportation Equipment 9.42 56.11% 51.21% 49.36%
38 Measuring, Analyzing & Controlling Instruments 12.88 36.90% 37.98% 44.85%
39 Miscellaneous Manufacturing 11.47 47.07% 40.60% 53.56%
40 Railroad Transportation 6.77 61.71% 31.08% 19.87%
41 Suburban Transit and Highway Transportation 18.84 342.77% 159.57% 67.88%
42 Motor Freigth Transportation 8.15 67.65% 43.27% 52.95%
44 Water Transportation 10.27 137.07% 64.89% 25.76%
45 Air Transportation 8.61 80.18% 86.31% 66.52%
46 Pipelines 7.67 38.86% 29.75% 14.31%
47 Transportation Services 6.65 91.54% 34.13% 22.09%
48 Communications 18.52 64.03% 59.39% 33.78%
49 Electric, Gas & Sanitary Services 7.79 64.17% 34.27% 19.25%
50 Wholesale trade - Durable goods 13.64 24.08% 23.91% 64.30%
51 Wholesale trade-Nondurable goods 9.71 65.76% 41.21% 36.76%
52 Building materials, hardware & Garden Dealers 13.08 53.58% 60.44% 45.05%
53 General Merchandise 7.04 64.94% 31.06% 25.52%
54 Food Stores 6.57 51.39% 41.45% 26.92%
55 Auto Dealers & Gas Service Stations 11.41 67.66% 36.35% 28.80%
56 Apparel & Accessory Stores 7.17 63.05% 39.18% 27.62%
57 Home Furniture, Furnishings & Equip Stores 10.80 109.40% 54.71% 42.03%
58 Eating & Drinking Establishments 8.12 88.41% 44.94% 27.26%
59 Miscellaneous Retail 11.13 59.68% 29.78% 38.26%
60 Depository Institutions 11.25 12.00% 11.62% 24.44%
61 Non-depository Institutions 12.12 10.09% 14.97% 38.15%
62 Security & Commodity Brokers, Dealers .. 11.53 12.66% 18.17% 40.68%
63 Insurance Carriers 10.24 39.58% 98.79% 43.94%
64 Insurance Agents, Brokers & Services 10.16 23.16% 33.90% 36.90%
65 Real Estate 13.36 48.32% 33.08% 29.63%
67 Holding & Other Investment Services 16.90 0.18% 0.47% 45.21%
70 Hotels, Rooming Houses & Lodging Places 9.33 72.24% 39.42% 36.33%
72 Personal Services 7.77 55.50% 33.23% 18.66%
73 Business Schools 14.16 110.34% 114.88% 47.18%
75 Auto Repair, Services & parking 4.14 154.54% 56.68% 10.30%
76 Miscellaneous Repair Services 7.85 34.44% 49.74% 120.25%
78 Motion Pictures 7.14 58.00% 53.74% 55.05%
79 Amusement & Recreation Services 8.78 76.15% 34.87% 41.87%
80 Health Services 11.78 42.19% 40.68% 58.07%
82 Educational Services 12.44 44.60% 58.80% 38.76%
87 Engineering, Accounting, Research Services 30.99 477.48% 30.30% 63.74%
89 Services not listed elsewhere 18.17 69.56% 62.41% 45.63%
Average 11.09 74.89% 47.84% 40.20%

Last Update: 10/22/96

Name: Aswath Damodaran