A&M Germany: Valuation Insights
A&M’s Germany Valuation Insights analyses pricing dynamics and the associated impact on asset values.
The price for taking equity risk in Germany remains high but dropped from its latest peak in Q3 2022.
A one-year comparison shows declining forward trading pricing levels across all industries, currently reaching a 10-year low. We find that from December this year compared to December last year, Enterprise Values (EV) are down across industries caused by dramatic drops in asset prices, except for Energy & Materials. Further, previously pandemic-driven suppressed growth and earnings levels seem to have slightly recovered compared to a year ago. It seems that asset prices declined disproportionally compared to still relatively stable earnings levels. Hence, pricing tags are far off from normalized levels.
In a one-year time frame, premia paid in European M&A transactions were highest in IT and Chems & Pharma across European M&A transactions.
Download the full results of A&M Germany Valuation Insights.
Previous Reports
November 2022
July 2022
June 2022
February 2022
September 2021
February 2021
August 2020
