Market Research Business — Business Valuation Multiple
EBITDA Valuation Guide · Small & Mid-Sized Businesses
Actual EBITDA multiples can vary materially based on EBITDA size, growth, recurring revenue, margins, customer concentration, owner dependence, geography and other company-specific factors.
Min
3×
Typical
4.5×
Max
6×
Revenue Model
Project-based
Capital Intensity
Low
A typical multiple of 4.5× EBITDA reflects mid-market transactions in the $1–$50M revenue range.
Overview
Market research businesses typically trade at 3×–6× EBITDA. Proprietary panel or data assets, specialist sector expertise, and retainer research relationships are the primary value drivers. Qualitative and quantitative capability and professional accreditation strengthen buyer confidence. AI disruption to survey and analysis work, project-based revenue, and data privacy regulation are key risk factors.
Key Value Drivers
- Proprietary panel or data asset
- Specialist sector expertise
- Retainer research relationships
- Qualitative and quantitative capability
- Professional accreditation
Key Risks
- AI disruption to survey and analysis work
- Project-based revenue
- Client budget sensitivity
- Commoditisation of quantitative research
- Data privacy regulation
Related Industries
Disclaimer: All multiples are indicative estimates only and are not formal valuations or investment advice. They should not be relied upon for financial decision-making without independent professional advice.