Multiples with a European focus
We use the STOXX Europe 600 Index® to determine our multiples. This index is characterized by broad diversification, high liquidity, and regionality. It comprises the most liquid listed companies in Europe, including Austrian companies listed in the ATX Prime, and thus represents a reliable and empirically robust database.
Since the index only includes European companies, it is highly regional. Therefore, it is appropriate for Austrian and European company valuations and avoids methodologically inconsistent comparisons with US markets.
For illustration purposes, we use the internationally recognized Global Industry Classification Standard (GICS®) in order to divide companies into clearly defined sectors and subsectors.
