Practical tools · M&A Advisory
Business Valuation Calculator
Estimate your company's indicative Enterprise Value and Equity Value using EBITDA multiples and revenue multiples by sector — based on Spanish mid-market transaction data.
Business Valuation Calculator — EBITDA Multiples
Get an indicative estimate of your company's value using EBITDA and revenue multiples by sector
← Select a sector to see reference multiples
Please select a sector to continue
Net sales for the last closed financial year
Please enter your annual revenue
Earnings before interest, taxes, depreciation and amortisation. If unsure: EBIT + depreciation + amortisation.
If you enter the margin, we will calculate EBITDA from your revenue
Please enter EBITDA or EBITDA margin (%)
Bank debt + financial leases − available cash. Enter 0 if debt-free.
Indicative value estimate
Enterprise Value (EV)
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Equity Value
Net financial debt deducted
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Revenue multiple cross-check
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What does this result mean?
This estimate is indicative and based on market transaction multiples for the sector. Actual value depends on qualitative factors (revenue recurrence, customer concentration, key-man dependency, hidden liabilities, growth outlook) that only a formal due diligence can quantify. Use this figure as a starting point for a conversation with a specialist.
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Request a formal valuationIndicative result. Multiples are market ranges and may vary significantly based on company-specific characteristics. Does not replace a formal valuation. BMC does not guarantee accuracy for specific transactions.
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How EBITDA multiple valuation works
The EBITDA multiple method is the industry standard for SME and mid-market M&A transactions in Spain and across Europe. The logic is straightforward: comparable companies in the same sector trade at similar EBITDA multiples. This calculator applies multiple ranges observed in real Spanish transactions (2022–2026) for each sector.
Results are expressed as an Enterprise Value (EV) range — the total business value — and as Equity Value, which is what the shareholder receives after deducting net financial debt. Both figures are indicative estimates: the final transaction price depends on due diligence, buyer competition and negotiation.
For a formal valuation, BMC performs DCF (Discounted Cash Flow) analysis and transaction comparable analysis. You can request a proposal on our business valuation services page.
EBITDA multiples by sector in Spain — 2025–2026 reference
Market multiples vary significantly by sector. Below are the key reference ranges based on Spanish mid-market transaction data:
| Sector | EBITDA range | Revenue range |
|---|---|---|
| Technology / Software | 8× – 16× | 1.2× – 3.0× |
| Healthcare & Clinics | 7× – 14× | 0.8× – 2.0× |
| Real Estate | 10× – 18× | 1.5× – 4.0× |
| Energy & Renewables | 6× – 12× | 0.6× – 1.5× |
| Financial Services | 8× – 15× | 1.0× – 2.5× |
| Logistics & Transport | 5× – 9× | 0.4× – 0.9× |
| Manufacturing | 4× – 8× | 0.3× – 0.7× |
| Construction | 4× – 8× | 0.3× – 0.7× |
| Tourism & Hospitality | 5× – 10× | 0.5× – 1.2× |
| Education & Training | 6× – 12× | 0.8× – 2.0× |
Source: BMC analysis of public and private Spanish mid-market transactions 2022–2026, cross-referenced with European benchmarks (PwC, KPMG, Deloitte M&A reports 2024–2025). Multiples are updated annually.
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This tool provides a directional estimate. A specialist can analyse your specific situation in detail.
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Methodology and sources
This calculator applies EBITDA and revenue multiples observed in Spanish mid-market transactions (2022–2026), cross-referenced with European benchmarks from PwC, KPMG and Deloitte. Sector gross margin data is sourced from CIFEX and the INE Structural Business Survey. The result is an indicative pre-valuation estimate; it is not and does not purport to be a formal opinion of value.
Assumptions applied by this calculator
- EBITDA Multiple Method (Comparable Company / Precedent Transactions)
- Enterprise Value = EBITDA × Sector Multiple. The multiple is applied as a range (low–high) based on percentiles of comparable transactions. This simplified version does not apply size adjustments (DLOM/DLOC) or control premiums.
- Equity Value derivation
- Equity Value = Enterprise Value − Net Financial Debt (NFD). NFD entered must include bank debt, IFRS 16 financial leases and short-term credit facilities, minus available cash. Contingent liabilities and working capital adjustments are not deducted — these are addressed in due diligence.
- Revenue multiple cross-check (EV/Revenue)
- The revenue multiple serves as a secondary reference to detect anomalies (e.g., an artificially high or low EBITDA relative to revenue). It is not the primary valuation method.
- Multiple source
- BMC analysis of public and private Spanish mid-market transactions 2022–2026, INE Structural Business Survey (EEE), and market report benchmarks from PwC, KPMG and Deloitte (2024–2025). Multiples are updated annually.
- Limitations
- This tool does not incorporate future projections (DCF), qualitative adjustments, individual transaction comparable analysis or company-specific factors (revenue recurrence, customer concentration, key-man risk, contingencies). A formal valuation requires access to detailed financial information and the business plan.
Official sources
- INE — Structural Business Survey (EEE) (consultado 2026-06-13)
- Banco de España — Central Balance Sheet Data Office (consultado 2026-06-13)
- SABI — Iberian Balance Sheet Analysis System (Bureau van Dijk) (consultado 2026-06-13)
Last reviewed: 2026-06-13
Reviewed by: BMC M&A Team — M&A and Valuation Specialists
This calculator provides an estimate for informational purposes. It does not replace professional advice. Results may vary based on personal circumstances and regulatory changes. Consult an advisor for personalized planning.
Frequently asked questions about business valuation
How do you value a business using EBITDA multiples?
The EBITDA multiple method is the standard approach in SME and mid-market M&A transactions. The formula is: Enterprise Value (EV) = EBITDA × Sector Multiple. The multiple varies by sector, company size, growth profile and risk. To get the Equity Value (what the shareholder receives), net financial debt is deducted: Equity Value = EV − Net Debt.
What are EBITDA multiples by sector in Spain for 2025–2026?
Multiples vary significantly by sector. Technology and software: 8×–16× EBITDA. Healthcare and clinics: 7×–14×. Real estate: 10×–18×. Manufacturing: 4×–8×. Hospitality and tourism: 5×–10×. Logistics: 5×–9×. Energy and renewables: 6×–12×. These ranges are based on Spanish mid-market transactions (2022–2026) and are reference values; the exact multiple depends on company size, revenue recurrence and competitive positioning.
What is the difference between Enterprise Value and Equity Value?
Enterprise Value (EV) reflects the total business value regardless of its financing structure — the price a buyer would pay for 100% of the business with no debt and no cash. Equity Value is what the shareholder receives: EV minus net financial debt (bank debt + financial leases − available cash). In a transaction, the negotiated price is typically the Enterprise Value; net debt is settled at closing.
Why is this result an estimate and not a definitive sale price?
Market multiples are statistical averages from comparable transactions. The actual value of your business depends on qualitative factors that no calculator can measure: contract quality and recurrence, customer diversification, management dependency, intellectual property, contingent liabilities and growth outlook. A formal valuation using DCF (Discounted Cash Flow) analysis and transaction comparables calibrates these factors and produces a defensible value range for buyers and auditors.
What is EBITDA and how do I calculate it?
EBITDA stands for Earnings Before Interest, Taxes, Depreciation and Amortisation. It is the most widely used profitability indicator in business valuations because it allows comparisons regardless of capital structure. If you do not have the direct figure, calculate it from your income statement: EBITDA = EBIT (operating profit) + Depreciation + Amortisation. You can also use the calculator by entering the EBITDA margin as a percentage of revenue.
When is the best time to sell a business?
The optimal time to sell is when the company has completed a growth cycle, margins are at historical highs and M&A activity in the sector is strong. Selling with EBITDA on an upward trend and with renewed contracts improves the applicable multiple. Pre-sale preparation (cleaning up accounting, reducing debt, formalising customer contracts) can increase value by 15–30% compared to a rushed sale.
What factors reduce the multiple a buyer will offer?
Factors that reduce the multiple include: high customer concentration (one customer >30% of revenue is a risk), excessive owner-manager dependency (key-man risk), non-recurring or project-based revenue, off-balance-sheet liabilities (leases, guarantees, tax contingencies), pending litigation and lack of formalised supplier or distributor contracts. A vendor due diligence process helps identify and address these factors before going to market.
How much does a formal business valuation cost in Spain?
The cost of a formal valuation depends on the company size and complexity and the purpose of the valuation. For SMEs with revenue between €1M and €20M, an independent valuation using DCF and transaction comparables typically costs between €3,000 and €15,000. For larger companies or M&A contexts with multiple parties, the cost may exceed €20,000. BMC provides formal valuations tailored to company size — request a proposal from our M&A team.
Formal business valuation
Our M&A specialists perform formal valuations using DCF and transaction comparables. Over 200 advisory transactions in Spain.