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Valuation Multiples in the Context of Bucharest Stock Exchange and Local M&A Market

Author

Listed:
  • Sorin PETRE - PricewaterhouseCoopers
  • Romania

Abstract

Valuation and Economics department of PricewaterhouseCoopers Romania is pleased to present the first edition of this study focused on the analysis of listed companies on the Regulated Market of Bucharest Stock Exchange and of the Romanian local M&A market. The study presents the valuation multiples trend for 79 listed companies covering the period between 2007 and 2017 with a focus on the consumer, oil & gas, financial services, healthcare, industrial, materials and electricity sectors. We have also performed an analysis of valuation multiples trend based on 50 closed transactions between 2007 and 2017 for which robust financial data were readily available. PwC V&E Romanian practice envisages that potential users of the study will gain insights on: Overall equity market performance between 2007 and 2017 (BET, BET-Div.Adj.Value, BET-TR compared to the yield of Romanian government bonds). The performance of valuation multiples on different sectors for listed companies over the shifting phases of the economy. The analysis of valuation multiples derived from local transactions. Such studies increase in value due to recurrence, while data from various years and sectors add to existing analysis with each new edition. We express our commitment to update this study, on an annual basis, in order to provide higher value added for our readers.

Suggested Citation

  • Sorin PETRE - PricewaterhouseCoopers & Romania, 2017. "Valuation Multiples in the Context of Bucharest Stock Exchange and Local M&A Market," The Valuation Journal, The National Association of Authorized Romanian Valuers, vol. 12(2), pages 4-51.
    • Handle: RePEc:vaj:journl:v:12:y:2017:i:2:p:4-51
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    More about this item

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)

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