Read Valuation Insights, First Quarter 2019
The Tax Cuts and Jobs Act ("Act"), which was enacted
on December 22, 2017, had a significant one-time impact on the net
income of many U.S. companies that was reported after that date. As
a result, U.S. Net Income multiples may have been temporarily, but
materially impacted by some of the provisions in the Act and, which
might require specific-company adjustments not reflected in the
multiples reported herein. An industry must have a minimum of 5
company participants to be calculated.
For all reported multiples in the U.S. and Canada, the average
number of companies in the calculation sample was 77 (U.S.), and 29
(Canada); the median number of companies in the calculation sample
was 40 (U.S.), and 12 (Canada). Sample set includes publicly-traded
companies (private companies are not included). Source: Data
derived from Standard & Poor's Capital IQ databases.
Reported multiples are median ratios (excluding negatives
