ASC valuation multiples have been fluctuating in transactions over the last year, according to a report from VMG Health's Annual Healthcare M&A Report 2023.
Median total invested capital to EBITDA was flat but the top and bottom quartiles decreased year over year. Here are the statistics on median total invested capital to EBITDA for the last six years, according to VMG Health:
2017
1. 25th percentile: 6.0x
2. Median: 6.8x
3. 75th percentile: 7.4x
2018
4. 25th percentile: 6.6x
5. Median: 7.4x
6. 75th percentile: 7.9x
2019
7. 25th percentile: 6.5x
8. Median: 7.7x
9. 75th percentile: 8.4x
2020
10. 25th percentile: 6.9x
11. Median: 7.8x
12. 75th percentile: 9.7x
2021
13. 25th percentile: 7.5x
14. Median: 7.8x
15. 75th percentile: 8.4x
2022
16. 25th percentile: 7.4x
17. Median: 7.8x
18. 75th percentile: 8.0x