All lower middle market multiples

OTHER · PE-BACKED TRANSACTIONS

Other EBITDA multiples

The source reports a 6.9× average TTM adjusted EBITDA multiple through Q3 2025 for companies in the source's other category. See the five-year path before deciding whether the benchmark belongs in your analysis.

See the annual data
20247.0×

Source average

CHANGE TO YTD 2025-0.1×

Reported average moved down

ALL-YEARS AVERAGE6.5×

Rank #7 of 8 groups

ALL-YEARS SAMPLE524

9% of industry observations

2021–2025 SOURCE HISTORY

The multiple moved. The universe stayed explicit.

The source's highest reported annual point in this period was 7.3× in 2021. Each bar is an average from a different period—not a valuation path for one company.

2003–2020 avg.6.3×
20217.3×
20227.0×
20236.9×
20247.0×
YTD 20256.9×
All-years avg.6.5×
All-years N524

FROM BENCHMARK TO UNDERWRITING

The table answers “what did the group average?” It does not answer these three questions.

01

Which narrower industry actually describes the company?

The aggregate source does not report this company-specific fact. A defensible valuation needs the answer before choosing or adjusting a multiple.

02

Does its size match the source's enterprise-value universe?

The aggregate source does not report this company-specific fact. A defensible valuation needs the answer before choosing or adjusting a multiple.

03

Which company-specific risks make a broad category misleading?

The aggregate source does not report this company-specific fact. A defensible valuation needs the answer before choosing or adjusting a multiple.

FIT CHECK

Use this benchmark only inside its lane.

What is included

Private-equity-backed North American transactions with $10M–$250M of total enterprise value. Source period: Through Q3 2025.

What is not claimed

No individual transactions, median, quartiles, strategic-buyer premium, or universal private-company adjustment. This page does not reveal our protected transaction index.

SOURCE CONTRACT

The number stays attached to its source.

We transcribed the aggregate Other row from GF Data's report. We did not infer missing ranges, blend in public-company trading multiples, or expose protected comparables.

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YOUR NUMBERS

Normalize EBITDA. Then build the private valuation.

The market reference is public. Your company inputs, estimate, and contributed comparable access stay behind your account.

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COMMON QUESTIONS

Other EBITDA multiples

What EBITDA multiple did other companies receive in 2025?

Through Q3 2025, the source reports an average 6.9× TTM adjusted EBITDA multiple for companies in the source's other category. The universe is private-equity-backed North American transactions with $10 million to $250 million of total enterprise value.

Did the other EBITDA multiple change from 2024?

The reported average moved from 7.0× in 2024 to 6.9× through Q3 2025, a -0.1× change. The periods can contain different transactions, so this is a change in source averages, not same-company appreciation.

Can I use 6.9× to value my other company?

Use it as one market reference only if your company fits the source's size and buyer universe. Normalize EBITDA first, then test company-specific growth, margins, concentration, recurrence, management, capital needs, and deal terms. The benchmark is not an appraisal or an offer.

Does this benchmark include individual transactions?

No. This page presents only the source's aggregate annual averages and the all-years observation count for its broad industry group. No individual transaction or protected comparable is exposed.