EODHD Academy

Valuation by Multiples

Relative valuation done properly — price and enterprise multiples, comparable sets, and reading a multiple in context.

4 units · 16 lessons · 60 min read · plus hands-on practice, at your pace

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What does it mean to value a company "by a multiple"?

Price Multiples · 3 min read · practitioner

Start the first lesson

Unit 1 Price Multiples

  1. What does it mean to value a company "by a multiple"? 3 min
  2. How does the P/E ratio actually work? 4 min
  3. Trailing or forward P/E — why do two "P/E" numbers disagree? 4 min
  4. When earnings fail you, what do P/B and P/S measure instead? 4 min
Practice Check · Unit 1 A short check · cannot be failed Start

Unit 2 Enterprise-Value Multiples

  1. Why isn't a company's price just its market cap? 3 min
  2. Why do analysts reach for EV/EBITDA so often? 5 min
  3. What other EV multiples exist, and when do you use them? 4 min
  4. Price multiple or EV multiple — which should you trust? 3 min
Practice Check · Unit 2 A short check · cannot be failed Start

Unit 3 Building a Comparable Set

  1. A multiple of 15 — compared to what, exactly? 3 min
  2. How do you actually build a defensible peer set? 4 min
  3. Your company sits above the peer median — now what? 3 min
  4. How does the PEG ratio fold growth into the P/E? 4 min
Practice Check · Unit 3 A short check · cannot be failed Start

Unit 4 Reading Multiples in Context

  1. Why does a "normal" multiple look completely different by sector? 4 min
  2. Can a low multiple be the peak of the cycle in disguise? 4 min
  3. Why can a genuinely "cheap" multiple stay cheap forever? 4 min
  4. Course checkpoint — can you read a multiple like a practitioner? 4 min
Practice Check · Unit 4 A short check · cannot be failed Start

Last Course exam

One exam, the whole course Unlocks when you have read all 16 lessons

Passing it earns the course certificate. It also counts toward the Analyst track (course 3 of 8): pass every course exam in a track to earn its track certificate.