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August 2015
EV/2015E EBITDA Multiples
Software &
Online
Consumer
Platforms
Average: 16.3x, Median 13.2x
Networks,
Hardware
& Devices
Average: 10.2x, Median 8.0x
6
As of: 06/30/2015
Sources: S&P Capital IQ
24.7x 22.8x 10.4x
9.2x
9.1x
8.7x
8.2x
7.6x
BABA AMZN GOOGL ORCL AAPL MSFT IBM CSCO
41.8x
38.4x
30.1x
28.1x
21.8x
16.8x
12.2x
TWTR LNKD YHOO YELP FB PCLN EBAY
36.8x 25.9x 23.3x 14.2x 13.5x 11.9x 11.7x 7.3x
2.7x
CRM RHT ADBE SWI VMW CTXS SAP CA SAS
69.0x
39.3x
21.2x
18.9x
10.4x
7.4x
6.9x
PANW FTNT CUDA VDSI
AVG CKP SYMC
15.4x 11.7x
8.0x
7.6x
7.4x
7.1x
6.8x
6.6x
DISH TWX CMCS.A TMUS DTV S
T
VZ
13.6x
9.1x
8.8x
7.8x
5.6x
5.2x
4.7x
3.0x
14.4x
14.2x
10.6x
8.9x
8.7x
6.5x
6.2x
27.5x
18.7x
11.3x
10.4x
9.5x
ARM IMG
SN
CDNS
MENT