Latest Summary Of Results
Commentary
Our latest newsletter highlights a significant difference between the PER trends for private and public companies.
The average price (as a multiple of profits) of the private company deals recorded in the PERDa database continued its gradual recovery in 2011. Given the economic turbulence during this period (sovereign crises in Europe, continued (potentially unsustainable) government assistance to their economies), this recovery is probably more related to the very low prices recorded for deals in late 2009. It now seems some level of normality is returning to the market, but how long it continues is still uncertain. In addition, volumes continue to be very volatile, with some signs of a decreasing trend.
For more details and commentary, please download our newsletter below.
| Filename | Description | Size |
| PERDa-Summer08.pdf | 162.01k | |
| PERDa-Winter0809.pdf | 226.59k | |
| PERDa-Summer09.pdf | 244.38k | |
| PERDa-Winter0910.pdf | 241.73k | |
| PERDa-Europe-Summer10.pdf | 113.7k | |
| PERDa-UK-Summer10.pdf | 122.85k | |
| PERDa-Europe-Winter10_11.pdf | 112.67k | |
| PERDa-UK-Winter10_11.pdf | 182.44k | |
| PERDa-Europe-Summer11.pdf | 136.82k | |
| PERDa-UK-Summer11.pdf | 229.13k |
Summary
The database contains transactions showing the relationship between the Enterprise Value and profit measures including Historic underlying EBITDA and EBIT for recent deals involving private companies.
Definitions used in website and newsletters
Enterprise Value - Value of shares in a private company plus the value of all non working capital debt (which includes bank and directors/shareholder loans, hire purchase and overdraft). Also excludes any surplus assets and make any necessary adjustment to reflect normalised working capital.
Historic underlying EBITDA - Earnings Before Interest, Tax, Depreciation and Amortisation for most recent and relevant 12 month period before transaction, adjusted so as to reflect the underlying earnings relevant to the acquirer.
Historic underlying EBIT - Earnings Before Interest and Tax for most recent and relevant 12 month period before transaction, adjusted so as to reflect the underlying earnings relevant to the acquirer.
Contacts
www.leadingedgealliance.com
For more information on the database contact Mark Greaves at
www.francisclark.co.uk, email mag@francisclark.co.uk.