Compare enterprise value to EBITDA multiples across all GICS sectors. EV/EBITDA is a capital-structure-neutral valuation metric preferred by M&A analysts, as it accounts for debt while normalizing for differing taxation and depreciation schedules.
| Sector | Median EV/EBITDA | Mean EV/EBITDA | Min | Max | # Companies | Cheapest Company | Most Expensive |
|---|---|---|---|---|---|---|---|
| Energy | 10.21x | 11.71x | 3.25x | 55.02x | 22 | APA Corporation (APA) | Texas Pacific Land Corporation (TPL) |
| Financial Services | 12.03x | 14.06x | 4.74x | 34.93x | 38 | Allstate Corporation (The) (ALL) | Ares Management Corporation (ARES) |
| Communication Services | 13.38x | 17.35x | 5.72x | 48.76x | 24 | Comcast Corporation (CMCSA) | Take-Two Interactive Software, (TTWO) |
| Utilities | 13.83x | 14.25x | 8.63x | 21.61x | 31 | Edison International (EIX) | Constellation Energy Corporatio (CEG) |
| Consumer Defensive | 13.85x | 14.84x | 6.18x | 32.15x | 35 | Molson Coors Beverage Company (TAP) | Costco Wholesale Corporation (COST) |
| Basic Materials | 14.46x | 18.92x | 5.98x | 94.36x | 20 | Mosaic Company (The) (MOS) | Air Products and Chemicals, Inc (APD) |
| Healthcare | 14.77x | 15.77x | 3.58x | 47.34x | 59 | Molina Healthcare Inc (MOH) | Intuitive Surgical, Inc. (ISRG) |
| Consumer Cyclical | 15.43x | 18.97x | 6.30x | 139.02x | 53 | Best Buy Co., Inc. (BBY) | Tesla, Inc. (TSLA) |
| Industrials | 17.44x | 31.28x | 6.26x | 863.89x | 71 | United Airlines Holdings, Inc. (UAL) | Axon Enterprise, Inc. (AXON) |
| Technology | 18.89x | 95.50x | 4.45x | 5464.29x | 79 | Broadcom Inc. (AVGO) | Datadog, Inc. (DDOG) |
| Real Estate | 19.27x | 23.45x | 11.11x | 95.01x | 31 | Host Hotels & Resorts, Inc. (HST) | CoStar Group, Inc. (CSGP) |
Data was aggregated and computed in 2026. This study analyzes the Enterprise Value (EV) and trailing twelve-month Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of companies in the S&P 500, categorized by their Global Industry Classification Standard (GICS) sector.
Sources: Primary data was validated against finviz.com and stockanalysis.com, matching against market closing values as of early 2026. Only companies with positive EBITDA were included in the multiple calculations to prevent skewed medians from negative denominators. We rely on median values as the most robust measure of central tendency for valuation multiples.