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Market Pulse
10Y Bund (Rf)
2.68%
ECB
ERP EU avg
5.84%
Damodaran 2026
S&P Fwd P/E
20.8×
above hist. avg
EU Deal Vol
−14%
YoY
Software EV/EBITDA
24.5×
Jan 2026
CH CGT
0%
lowest EU
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Exit Value Calculator
EBITDA Normalisation · Sector Multiple · Equity Bridge · Net Proceeds · Damodaran Jan 2026
01 EBITDA
02 Multiple
03 Bridge
04 Costs
→ Output
01
EBITDA & Normalisation
Last 12 months (LTM)
Reported EBITDA
from audited or management accounts
k
Revenue
for EV/Revenue cross-check
k
Add-backs to normalised EBITDA
+ Add add-back
Common: excess owner salary · one-off legal fees · non-recurring costs · personal expenses through business
Normalised EBITDA
—
k
02
Sector & EV/EBITDA Multiple
Damodaran Jan 2026
Sector
Damodaran US public market
— Select sector —
Advertising · 12.0×
Aerospace / Defense · 21.6×
Air Transport · 7.6×
Auto Parts · 6.4×
Beverage (Alcoholic) · 8.6×
Beverage (Soft) · 16.9×
Building Materials · 11.6×
Business Services · 14.3×
Chemical (Specialty) · 13.4×
Computer Services · 14.1×
Construction · 17.2×
Drugs (Pharma) · 15.3×
Electrical Equipment · 24.6×
Electronics (General) · 20.0×
Entertainment · 19.4×
Environmental & Waste · 15.6×
Food Processing · 10.0×
Healthcare Products · 19.8×
Healthcare Services · 11.2×
Healthcare IT · 21.3×
Hotel / Gaming · 14.9×
Household Products · 13.2×
Logistics / Transport · 12.6×
Machinery · 16.2×
Metals & Mining · 11.4×
Oil & Gas (E&P) · 5.2×
Packaging · 9.7×
Power / Utilities · 12.4×
R.E.I.T. · 19.9×
Restaurant / Dining · 17.5×
Retail (General) · 17.4×
Semiconductor · 34.8×
Software (System & App) · 24.5×
Software (Entertainment) · 22.0×
Steel · 11.6×
Telecom Services · 6.5×
Telecom Equipment · 24.1×
Trucking · 10.4×
Public market multiple
auto-filled from sector
×
Private market discount
illiquidity / SME discount
%
Applied multiple (private)
override manually if needed
×
03
Debt & Equity Bridge
EV → Equity value
Net financial debt
bank loans − restricted cash
k
Cash & equivalents
unrestricted, normalised
k
Other debt-like items
pensions, provisions, earnouts
k
Seller stake
% of company being sold
%
04
Transaction Costs
Sell-side perspective
Advisory success fee
% of equity proceeds at close
%
Legal & notarial
sell-side legal only
%
Capital gains tax
individual rate — varies by country
%
Book value of shares
tax cost basis (for CGT calc)
k
Enterprise Value
—
Select sector · enter EBITDA
—
—
Valuation build-up
Reported EBITDA
—
+ Add-backs
—
Normalised EBITDA
—
× EV/EBITDA applied
—
Equity bridge
Enterprise value
—
− Net financial debt
—
− Other debt-like items
—
+ Cash
—
Equity value
—
× Seller stake
—
Gross proceeds
—
Transaction costs
Advisory fee
—
Legal & notarial
—
Capital gains tax
—
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and sensitivity analysis.
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Net proceeds to seller
—
After all fees and tax
—
Advisory
—
Legal
—
Tax
EV sensitivity — EBITDA × Multiple
EBITDA \ Mult
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
Enter EBITDA and select a sector to calculate exit value.
Sources:
EV/EBITDA multiples — Damodaran, NYU Stern, Jan 2026 (US, positive-EBITDA firms). Advisory fees — Firmex/Axial/DealCircle M&A Fee Guide 2024–2025. Private market discount — 25–40% illiquidity discount standard for SME transactions. Not financial advice.