The valuation multiples Misano works with.

All bands are control-transaction basis, pre-synergy, calibrated to the European lower-mid-market (typical EV €2–150m). Low / mid / high is a quality spread within the sector — margins, growth, revenue recurrence and size decide where a specific company sits, not optimism.

NACE bands benchmark each 2-digit NACE Rev. 2.1 division against disclosed European private-market transactions and sector reports. Niche bands go a level deeper: each of the 62 niches is anchored on named, sourced reference deals and re-curated monthly. Evidence quality (High → Low) says how much disclosed data stands behind the range — we publish it instead of hiding it.

Multiples are one leg of the Misano valuation. The DCF leg follows Metodika C1.0: FCFF discounted at WACC, cost of equity via CAPM (Ke = Rf + β·ERP + CRP) using Damodaran industry parameters (Jan 2026 vintage — unlevered betas, total beta for undiversified private owners, equity and country risk premia; Europe dataset with global fallback), and a Gordon terminal value with growth hard-capped at the risk-free rate. Attribution: Aswath Damodaran, pages.stern.nyu.edu/~adamodar — aggregate use for valuation permitted; we do not republish his datasets.

In the app, each company gets a NACE baseline, a niche override where it maps to a curated niche, or your own custom multiples — and the football field shows every leg (multiples, DCF, comparable transactions) side by side against the asking price.

Benchmarks, not investment advice. A specific company's multiple depends on its size, margin, growth, customer concentration and deal structure. Free to cite with attribution to Misano (misano.ai/guides/multiples).