{
  "schema_version": "1.0",
  "methodology": "Aggregate medians/quartiles of disclosed M&A multiples by sub-vertical x EV-bracket. Only post-2018 deals from SEC EDGAR + verified press releases. Cells require n >= 10. Outliers (EV/EBITDA >60x or <0.5x; EV/Revenue >25x or <0.05x) excluded.",
  "license": "MIT (code) / CC-BY 4.0 (data). Cite https://exitvalue.ai if used in publications.",
  "source_window": "2018-2026",
  "min_cell_n": 10,
  "data": {
    "food-manufacturing": {
      "over_500m_ev": {
        "ev_ebitda": {
          "n": 15,
          "p25": 11.6,
          "p50": 14.8,
          "p75": 17.2
        },
        "ev_revenue": {
          "n": 19,
          "p25": 1.0,
          "p50": 2.8,
          "p75": 3.5
        }
      }
    },
    "medical-practice-specialty": {
      "under_5m_ev": {
        "ev_revenue": {
          "n": 22,
          "p25": 0.35,
          "p50": 1.1,
          "p75": 2.05
        }
      },
      "over_500m_ev": {
        "ev_ebitda": {
          "n": 25,
          "p25": 11.5,
          "p50": 14.7,
          "p75": 18.5
        },
        "ev_revenue": {
          "n": 13,
          "p25": 1.3,
          "p50": 1.6,
          "p75": 2.55
        }
      },
      "100m_500m_ev": {
        "ev_ebitda": {
          "n": 11,
          "p25": 11.0,
          "p50": 12.5,
          "p75": 13.8
        }
      },
      "5m_25m_ev": {
        "ev_ebitda": {
          "n": 14,
          "p25": 5.07,
          "p50": 5.8,
          "p75": 7.3
        },
        "ev_revenue": {
          "n": 24,
          "p25": 1.02,
          "p50": 2.1,
          "p75": 2.7
        }
      }
    },
    "healthcare-it": {
      "over_500m_ev": {
        "ev_ebitda": {
          "n": 61,
          "p25": 16.2,
          "p50": 19.2,
          "p75": 24.65
        },
        "ev_revenue": {
          "n": 55,
          "p25": 5.0,
          "p50": 7.1,
          "p75": 10.0
        }
      },
      "100m_500m_ev": {
        "ev_ebitda": {
          "n": 19,
          "p25": 13.0,
          "p50": 16.6,
          "p75": 18.5
        },
        "ev_revenue": {
          "n": 36,
          "p25": 4.05,
          "p50": 6.25,
          "p75": 7.97
        }
      },
      "5m_25m_ev": {
        "ev_revenue": {
          "n": 14,
          "p25": 1.75,
          "p50": 3.15,
          "p75": 6.55
        }
      },
      "25m_100m_ev": {
        "ev_revenue": {
          "n": 16,
          "p25": 2.02,
          "p50": 2.9,
          "p75": 5.55
        }
      }
    },
    "laboratory-services": {
      "100m_500m_ev": {
        "ev_revenue": {
          "n": 18,
          "p25": 1.58,
          "p50": 2.1,
          "p75": 3.0
        }
      },
      "over_500m_ev": {
        "ev_revenue": {
          "n": 10,
          "p25": 3.6,
          "p50": 5.2,
          "p75": 9.2
        }
      }
    },
    "physical-therapy": {
      "5m_25m_ev": {
        "ev_revenue": {
          "n": 26,
          "p25": 1.95,
          "p50": 2.35,
          "p75": 2.8
        }
      },
      "25m_100m_ev": {
        "ev_revenue": {
          "n": 11,
          "p25": 1.6,
          "p50": 1.7,
          "p75": 2.9
        }
      }
    },
    "medical-devices": {
      "100m_500m_ev": {
        "ev_ebitda": {
          "n": 19,
          "p25": 13.7,
          "p50": 15.9,
          "p75": 17.5
        },
        "ev_revenue": {
          "n": 66,
          "p25": 2.68,
          "p50": 4.05,
          "p75": 6.7
        }
      },
      "over_500m_ev": {
        "ev_ebitda": {
          "n": 34,
          "p25": 11.7,
          "p50": 14.35,
          "p75": 17.65
        },
        "ev_revenue": {
          "n": 57,
          "p25": 2.45,
          "p50": 4.0,
          "p75": 7.4
        }
      },
      "25m_100m_ev": {
        "ev_ebitda": {
          "n": 10,
          "p25": 10.65,
          "p50": 12.65,
          "p75": 16.62
        },
        "ev_revenue": {
          "n": 24,
          "p25": 2.87,
          "p50": 3.7,
          "p75": 5.18
        }
      },
      "5m_25m_ev": {
        "ev_revenue": {
          "n": 13,
          "p25": 1.4,
          "p50": 2.5,
          "p75": 3.75
        }
      }
    },
    "medical-practice-primary-care": {
      "100m_500m_ev": {
        "ev_revenue": {
          "n": 11,
          "p25": 0.3,
          "p50": 1.0,
          "p75": 1.3
        }
      },
      "under_5m_ev": {
        "ev_ebitda": {
          "n": 10,
          "p25": 3.4,
          "p50": 3.9,
          "p75": 4.62
        },
        "ev_revenue": {
          "n": 23,
          "p25": 0.1,
          "p50": 0.2,
          "p75": 0.6
        }
      },
      "over_500m_ev": {
        "ev_ebitda": {
          "n": 12,
          "p25": 13.43,
          "p50": 16.95,
          "p75": 18.6
        }
      }
    },
    "mental-health": {
      "over_500m_ev": {
        "ev_ebitda": {
          "n": 13,
          "p25": 9.2,
          "p50": 14.5,
          "p75": 19.65
        }
      },
      "100m_500m_ev": {
        "ev_ebitda": {
          "n": 17,
          "p25": 10.0,
          "p50": 13.5,
          "p75": 15.5
        }
      }
    },
    "insurance-agency": {
      "over_500m_ev": {
        "ev_revenue": {
          "n": 12,
          "p25": 3.9,
          "p50": 5.67,
          "p75": 6.37
        }
      }
    },
    "dental-practice": {
      "5m_25m_ev": {
        "ev_ebitda": {
          "n": 10,
          "p25": 6.5,
          "p50": 6.95,
          "p75": 8.32
        }
      },
      "over_500m_ev": {
        "ev_ebitda": {
          "n": 16,
          "p25": 11.82,
          "p50": 14.0,
          "p75": 15.28
        }
      },
      "100m_500m_ev": {
        "ev_ebitda": {
          "n": 11,
          "p25": 11.3,
          "p50": 12.0,
          "p75": 14.2
        }
      }
    },
    "ambulatory-surgery-center": {
      "under_5m_ev": {
        "ev_revenue": {
          "n": 15,
          "p25": 0.6,
          "p50": 0.9,
          "p75": 1.5
        }
      },
      "25m_100m_ev": {
        "ev_ebitda": {
          "n": 11,
          "p25": 6.8,
          "p50": 9.5,
          "p75": 12.2
        },
        "ev_revenue": {
          "n": 13,
          "p25": 1.95,
          "p50": 2.5,
          "p75": 3.2
        }
      },
      "5m_25m_ev": {
        "ev_ebitda": {
          "n": 19,
          "p25": 5.3,
          "p50": 8.2,
          "p75": 11.4
        },
        "ev_revenue": {
          "n": 27,
          "p25": 1.1,
          "p50": 1.4,
          "p75": 2.2
        }
      }
    },
    "home-health": {
      "5m_25m_ev": {
        "ev_revenue": {
          "n": 13,
          "p25": 0.8,
          "p50": 1.0,
          "p75": 1.4
        }
      },
      "under_5m_ev": {
        "ev_ebitda": {
          "n": 24,
          "p25": 3.85,
          "p50": 4.65,
          "p75": 6.52
        },
        "ev_revenue": {
          "n": 29,
          "p25": 0.45,
          "p50": 0.5,
          "p75": 0.7
        }
      }
    },
    "durable-medical-equipment": {
      "under_5m_ev": {
        "ev_ebitda": {
          "n": 10,
          "p25": 4.15,
          "p50": 5.2,
          "p75": 10.07
        },
        "ev_revenue": {
          "n": 11,
          "p25": 0.6,
          "p50": 0.7,
          "p75": 0.9
        }
      },
      "5m_25m_ev": {
        "ev_revenue": {
          "n": 12,
          "p25": 0.53,
          "p50": 0.9,
          "p75": 1.25
        }
      }
    },
    "pharmacy": {
      "100m_500m_ev": {
        "ev_ebitda": {
          "n": 10,
          "p25": 11.1,
          "p50": 13.8,
          "p75": 15.0
        }
      },
      "over_500m_ev": {
        "ev_ebitda": {
          "n": 16,
          "p25": 12.2,
          "p50": 19.75,
          "p75": 21.07
        },
        "ev_revenue": {
          "n": 10,
          "p25": 0.2,
          "p50": 1.0,
          "p75": 2.08
        }
      }
    },
    "healthtech": {
      "over_500m_ev": {
        "ev_ebitda": {
          "n": 12,
          "p25": 15.65,
          "p50": 25.7,
          "p75": 34.73
        },
        "ev_revenue": {
          "n": 13,
          "p25": 2.55,
          "p50": 4.7,
          "p75": 9.4
        }
      }
    },
    "veterinary-practice": {
      "over_500m_ev": {
        "ev_ebitda": {
          "n": 13,
          "p25": 16.6,
          "p50": 19.5,
          "p75": 24.9
        }
      }
    },
    "hospice": {
      "5m_25m_ev": {
        "ev_revenue": {
          "n": 10,
          "p25": 0.73,
          "p50": 1.5,
          "p75": 2.05
        }
      }
    }
  }
}