Factors to Consider when Valuing a Business (cont.)

• Review trading multiples for comparable publicly traded companies in similar businesses
  – Market evidence to support value conclusion



• Review sale transaction multiples for comparable companies (public or private) in similar businesses
  – Market evidence to support value conclusion



• Managements track record and its ability to achieve its objectives



• Key employees, business referral relationships, customer dependencies, access to capital to support and grow business



• Applicable discounts for lack of control and marketability