What is a bad EBITDA multiple?

Asked by: Linnie Mosciski  |  Last update: December 13, 2025
Score: 4.5/5 (7 votes)

While the "healthy" range for EV/EBITDA varies by industry—in 2024, it ranged from about eight to 30, depending on the sector—this ratio provides critical context when analyzing a company's value. Many analysts consider an EV/EBITDA below 10 a strong signal of an undervalued company.

What is a reasonable EBITDA multiple?

A typical EBITDA multiple range of 4x to 8x is in the middle of the range for most industries in the lower middle market. There's no single “typical” EBITDA multiple across sizes and industries, this range can serve as a general guideline.

Is an EBITDA of 20% good?

A “good” EBITDA margin is industry-specific, however, an EBITDA margin in excess of 10% is perceived positively by most.

Is 12% EBITDA good?

The longer answer is that a good EBITDA margin is at least 10%. A higher EBITDA margin suggests a company has lower operating costs than its revenue. Meanwhile, a lower margin signifies poor cash flow.

Is 30% a good EBITDA?

The average EBITDA margin of more than 300 software (systems and applications) companies in the U.S at the start of 2023 was 29%. If your startup has an EBITDA margin of 30% or higher, you're tracking to SaaS industry averages and doing great.

How EBITDA Multiples Work

30 related questions found

What is the 30% EBITDA rule?

The Interest Limitation Rule (ILR) is intended to limit base erosion using excessive interest deductions. It limits the maximum net interest deduction to 30% of Earnings Before Interest, Taxes, Depreciation, Amortization (EBITDA). Any interest above that amount is not deductible in the current year.

What is the rule of 40 in EBITDA?

The Rule of 40 states that the sum of a healthy SaaS company's annual recurring revenue growth rate and its EBITDA margin should be equal to or exceed 40%. It is a measure of how well a SaaS balances growth with profitability.

Is 40% EBITDA margin good?

The “Rule of 40” in SaaS valuations is a rule of thumb used to assess a company's financial health and growth potential. It suggests that the sum of a company's top line year over year growth rate (annual recurring revenue growth percentage) and its EBITDA margin should ideally be at least 40%.

Is 15 EBITDA good?

Generally, a healthy EBITDA for a mid-size home services company is between 10% and 15% of their total revenue. This means that the company is generating more in revenue than it is spending on costs and expenses.

What does 7 times EBITDA mean?

These private companies are usually valued based on the last financing round or by using DCF — discounted cash flow. For example, a private company would be valued at 7 times its EBITDA and so if its LTM EBITDA is $50m, then the company's value would be $350m.

What is the 20 EBITDA rule?

The other way round: the first million euros in interest is deductible, but after that the amount of deductible interest may not exceed 20% of the profit (more accurately: 20% of the fiscal EBITDA).

Is 25% a good EBITDA?

A good EBITDA margin may fall between 15% and 25%, says Simon Thomas, Managing Director of accountancy firm Ridgefield Consulting. Generally, the higher the EBITDA margin, the greater the profitability and efficiency of a company.

Does EBITDA include salaries?

Most mid-sized businesses are acquired by other companies. EBITDA removes an owner's salary from the valuation because the buyer will need to spend this figure on a new manager or CEO.

Is 13 EBITDA good?

Generally, a good EBITDA margin is considered to be above 15% for most sectors. However, industries such as technology and healthcare may have higher expectations, often aiming for margins above 20% or even higher.

What is a low EBITDA multiple?

While the "healthy" range for EV/EBITDA varies by industry—in 2024, it ranged from about eight to 30, depending on the sector—this ratio provides critical context when analyzing a company's value. 1. Many analysts consider an EV/EBITDA below 10 a strong signal of an undervalued company.

What is a healthy EBITDA?

Generally speaking, a good EBITDA margin for manufacturing businesses falls between 5% and 10%. However, this will vary depending on the specific industry you are manufacturing your products for, and how capital-intensive your operations are.

What is a bad Ebita?

A negative EBITDA indicates that a company's operational earnings are insufficient to cover its operating expenses, excluding interest, taxes, depreciation, and amortisation. This might occur when a company is in its early stages or undergoing significant investments for growth.

What does 50% EBITDA mean?

EBITDA Margin = EBITDA / Revenue

For example, if a company has an EBITDA of $50 million and a revenue of $100 million, its EBITDA margin is 50%. This means that for every dollar of revenue, the company has 50 cents left after paying for its operating expenses.

Which is better Ebita or EBITDA?

Basically, EBITDA might be more suitable for businesses with low maintenance and depreciation expenses, while EBITA could be more applicable for businesses with substantial hard assets and related depreciation costs. The calculation of EBITA is similar to EBITDA.

What is the 3 3 2 2 2 rule of SaaS?

The rule of thumb for growth rate expectations at a successful SaaS company being managed for aggressive growth is 3, 3, 2, 2, 2: starting from a material baseline (e.g., over $1 million in annual recurring revenue [ARR]), the business needs to triple annual revenues for two consecutive years and then double them for ...

Is 60% EBITDA good?

A good EBITDA growth rate varies by industry, but a 60% growth rate in most industries would be a good sign.

What is the rule of 70?

The rule of 70 is used to determine the number of years it takes for a variable to double by dividing the number 70 by the variable's growth rate. The rule of 70 is generally used to determine how long it would take for an investment to double given the annual rate of return.

Can EBITDA be over 100%?

EBITDA margins can range from 1% to 100%, but they are almost always less than 100%. The reason is margin can only hit 100% if a company had no taxes, depreciation, or amortization for the period being calculated.

What is the magic number in SaaS?

The SaaS Magic Number is a widely used formula to measure sales efficiency. It measures the output of a year's worth of revenue growth for every dollar spent on sales and marketing. To think of it another way, for every dollar in S&M spend, how many dollars of ARR do you create.

Can a company be profitable but not liquid?

Answer and Explanation: Yes, a company can be profitable but not liquid because of the accrual basis of accounting. In the case of accrued income, prepaid expense, credit sales, etc., there can be a shortage of liquidity. If a company made credit sales then debtors would increase which will make the cash flow negative.