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Public Comps and Valuation Multiples for BioTech

Benchmark revenue and EBITDA valuation multiples for public comps like
Eli Lilly, Johnson & Johnson, AbbVie, Roche and Merck.

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BioTech

CompanyMarket CapEnterprise ValueLTM RevenueEV/LTM RevenueEV/LTM EBITDA
$1.1T$1.1T$75B14.9x31.1x
$613B$646B$97B6.6x17.7x
$448B$511B$64B8.0x18.1x
$331B$352B$79B4.5x11.3x
$318B$361B$66B5.5x14.0x
$298B$338B$56B6.1x14.7x
$293B$319B---
$214B$233B$47B5.0x10.3x
$193B$239B$37B6.4x13.8x
$191B$231B$46B5.0x19.7x
$159B$173B$30B5.8x16.6x
$139B$152B$25B6.1x19.1x
$138B$189B$62B3.0x8.0x
$125B$119B$12B9.6x21.7x
$117B$153B$48B3.2x8.7x
$105B$126B$45B2.8x8.2x
$102B$119B$55B2.2x7.2x
$76B$70B$8B8.4x16.3x
$72B$82B$24B3.4x11.8x
$67B$72B$23B3.1x10.2x
$66B$60B$15B4.0x11.3x
$56B$56B$9B5.9x17.4x
$55B$51B$5B10.1x33.9x
$53B$85B$53B1.6x7.7x
$53B$47B$7B6.6x13.4x
$52B$6B
$50B$29B
$47B$5B
$47B$6B
$46B$9B
$44B$5B
$41B$3B
$41B$15B
$40B$17B
$39B$5B
$39B$15B
$39B$51M
$38B$12B
$38B$7B
$38B$15B
$38B$3B
$37B$5B
$35B$16B
$33B$11B
$32B$17B
$32B$10B
$32B$10B
$30B$6B
$30B$21B
$29B$6B
$29B$14B
$27B$4B
$27B$2B
$26B$27B
$26B$4B
$25B$21B
$25B$3B
$25B$3B
$25B$26M
$24B$14B
$23B$11B
$23B$3B
$23B$3B
$23B$5B
$23B$3B
$22B$1B
$22B$14B
$22B$2B
$21B$3B
$20B$12B
$20B$1B
$20B-
$19B$4B
$19B$15B
$19B$1B
$18B$4B
$17B$3B
$17B$1B
$17B$3B
$17B-
$17B$3B
$17B$2B
$16B$8B
$16B$2B
$16B$4B
$16B$3B
$16B$355M
$16B$4B
$15B$5B
$15B$3B
$14B$3B
$14B$4B
$14B$16B
$14B$4B
$14B$2B
$14B$731M
$14B$9B
$13B$659M
$13B$919M
$13B$4B
$13B$4B
$13B$8B
$13B$3B
$12B$1B
$12B$805M
$12B$350M
$12B$6B
$12B$3B
$12B$5B
$12B$223M
$12B$3B
$12B$2B
$12B$4B
$12B$1B
$12B$3B
$11B-
$11B$4B
$11B$11B
$11B$3B
$11B$4B
$11B$2B
$11B$98M
$11B$547M
$11B$1B
$11B$453M
$11B$3B
$11B$2M
$11B$2B
$10B$4B
$10B-
$10B$587M
$10B$6M
$10B$4B
$10B$5B
$10B$1B
$10B$5B
$9B$4B
$9B$867M
$9B$2B
$9B$763M
$9B$2M
$9B$167M
$9B$61M
$9B$2B
$9B$2B
$9B$1B
$9B$816M
$9B$776M
$9B$4B
$8B$568M
$8B$1B
$8B$3B
$8B$746M
$8B$780M
$8B$3B
$8B-
$8B$2B
$8B-
$8B$1B
$8B$271M
$8B$744M
$8B$6B
$8B$6B
$8B$42M
$8B-
$8B$596M
$8B$245M
$7B-
$7B$3B
$7B$3B
$7B$2B
$7B$1B
$7B$5B
$7B$8B
$7B$435M
$7B$1B
$7B$3B
$7B$2B
$7B$5B
$7B$7B
$7B$35M
$7B$1B
$7B$3M
$7B$2B
$7B$6M
$6B$2B
$6B$7M
$6B$9B
$6B$8M
$6B$3B
$6B$428M
$6B$872M
$6B$4B
$6B$7B
$6B-
$6B$278M
$6B-
$6B-
$6B$5B
$6B$5M
$6B$742M
$6B$1B
$6B$1B
$5B$3B
$5B$592M
$5B-
$5B$379M
$5B$5B
$5B$1B
$5B$19M
$5B-
$5B$4M
$5B-
$5B$2M
$5B$15B
$5B$32M
$5B$2B
$5B$512M
$5B-
$5B$1B
$5B$1B
$5B-
$5B$26M
$5B$1B
$5B$551M
$5B-
$5B$642M
$5B$559M
$5B$628M
$5B$806M
$5B$634M
$5B$235M
$5B$3B
$4B-
$4B-
$4B$1B
$4B$1B
$4B$716M
$4B$3B
$4B$410M
$4B$2B
$4B$550M
$4B$594M
$4B-
$4B$3B
$4B$206M
$4B$1B
$4B$21M
$4B-
$4B$697M
$4B$14M
$4B$1B
$4B$3B
$4B-
$4B$165M
$4B$26M
$4B$37M
$4B$1B
$4B$1B
$4B$424M
$4B$612M
$4B$457M
$4B$379M
$4B$2B
$4B$1B
$4B$2B
$4B$1B
$4B$1B
$4B$582M
$4B$884M
$4B$106M
$4B-
$4B-
$4B$6B
$4B$129M
$4B$18M
$3B-
$3B$41B
$3B$915M
$3B$24B
$3B$880M
$3B$116M
$3B$267M
$3B-
$3B$435M
$3B$16M
$3B$2B
$3B$282M
$3B$2B
$3B$923M
$3B$886M
$3B$18M
$3B$2B
$3B$675M
$3B-
$3B$59M
$3B$2B
$3B-
$3B-
$3B$607M
$3B$1B
$3B-
$3B-
$3B$1B
$3B$340M
$3B$17M
$3B$707M
$3B$1B
$3B$1B
$3B$301M
$3B$417M
$3B$2B
$3B$1B
$3B$171M
$3B-
$3B$163M
$3B$1B
$3B$2M
$3B$329M
$3B$241M
$3B$361M
$3B$906M
$3B$1B
$3B$792M
$3B$571M
$3B$4B
$3B-
$3B$695M
$3B$1B
$3B$239M
$3B$692M
$3B-
$3B-
$3B-
$3B$775M
$3B$2B
$2B-
$2B-
$2B-
$2B$219M
$2B-
$2B$616M
$2B$248M
$2B$2B
$2B-
$2B-
$2B$96M
$2B$304M
$2B$967M
$2B-
$2B$1B
$2B$63M
$2B$108M
$2B$1B
$2B$235M
$2B$5M
$2B$87M
$2B$54M
$2B-
$2B-
$2B$158M
$2B-
$2B$8M
$2B$304M
$2B$183M
$2B$398M
$2B$270M
$2B$285M
$2B$52M
$2B$48M
$2B$337M
$2B$556M
$2B-
$2B$5B
$2B$121M
$2B-
$2B$31M
$2B$66M
$2B$904M
$2B$2B
$2B$938M
$2B$14M
$2B$2B
$2B$535M
$2B$237M
$2B$589M
$2B$2B
$2B$108M
$2B$1B
$2B-
$2B$59M
$2B$131M
$2B$3M
$2B-
$2B$999M
$2B$108M
$2B$10M
$2B-
$2B$2B
$2B$312M
$2B$503M
$2B-
$2B$889M
$2B-
$2B$257M
$2B$170M
$2B$85M
$2B$269M
$2B$235M
$2B$68M
$2B$399M
$2B$244M
$2B$19B
$2B$93M
$2B$405M
$2B$763M
$2B$4M
$2B$173M
$2B$6M
$2B$681M
$2B$583M
$2B$400M
$2B$39M
$2B-
$2B$460M
$2B$10B
$2B$2B
$2B$314M
$2B$204M
$2B$210M
$2B$307M
$2B-
$2B$448M
$2B$426M
$2B$1B
$2B$404M
$2B$6M
$2B$814M
$2B$934M
$2B$114M
$2B$1B
$2B$61M
$2B$186M
$2B$788M
$2B$804M
$2B$123M
$2B-
$2B$3B
$2B-
$2B$643M
$2B$165M
$2B$4B
$2B$250M
$2B$782M
$2B-
$2B$20M
$2B$621M
$2B$12M
$2B$899M
$2B$790M
$2B$248M
$2B$328M
$2B-
$2B$11M
$2B$423M
$2B-
$2B$310M
$2B-
$2B$3B
$2B$206M
$2B$64M
$2B$126M
$2B$874M
$2B-
$1B$416M
$1B$417M
$1B-
$1B$1B
$1B-
$1B$4B
$1B$791M
$1B$762M
$1B$109M
$1B$264M
$1B$242M
$1B-
$1B$822M
$1B$118M
$1B$190M
$1B$191M
$1B$142M
$1B$662K
$1B$4B
$1B$128M
$1B$474M
$1B$74M
$1B$12M
$1B-
$1B$4B
$1B-
$1B$492M
$1B$338M
$1B$1B
$1B$50M
$1B$533M
$1B$1B
$1B$404M
$1B$245M
$1B$627M
$1B$172M
$1B-
$1B$323M
$1B-
$1B$2M
$1B$625M
$1B$237M
$1B$826M
$1B$68M
$1B$196M
$1B$218M
$1B$58M
$1B$1B
$1B$59M
$1B$606M
$1B$573M
$1B-
$1B-
$1B$17M
$1B$2B
$1B-
$1B($98K)
$1B$44M
$1B$9M
$1B$263M
$1B-
$1B$50M
$1B$66M
$1B$99M
$1B$4B
$1B-
$1B$152M
$1B$364M
$1B-
$1B$207M
$1B$2B
$1B$140M
$1B$193M
$1B$48M
$1B$220M
$1B$30M
$1B$530M
$1B$31M
$1B-
$1B-
$1B$606M
$1B$7M
$1B$374M
$1B$262M
$1B-
$1B-
$1B-
$995M-
$993M$747M
$993M$878M
$990M$472M
$987M-
$983M$601K
$982M-
$978M$94M
$969M$4M
$969M$105M
$968M$81M
$960M$733M
$960M$8M
$959M$602M
$957M$164M
$957M$30K
$952M-
$949M-
$946M-
$938M$390M
$926M$453M
$917M$198M
$917M$455M
$916M-
$915M-
$915M-
$911M$21M
$910M-
$909M$96M
$908M$409M
$907M$10M
$905M$96M
$899M-
$898M-
$897M$488M
$897M$53M
$886M-
$879M$255M
$877M-
$872M-
$869M$369M
$868M$181M
$867M$2M
$860M$2B
$855M$253M
$848M$114M
$847M$208M
$847M-
$837M$181M
$837M$1B
$834M-
$832M$339M
$828M$1B
$827M$99M
$826M$5M
$824M$146M
$821M$204M
$820M-
$817M$396M
$816M-
$815M$193M
$813M$147M
$805M$251M
$805M$984M
$799M$126M
$797M-
$794M$309M
$792M$91M
$778M-
$769M-
$769M-
$749M-
$745M$56M
$740M$55M
$737M$348M
$735M$2K
$733M$342M
$725M-
$725M$652M
$725M$1M
$724M-
$721M-
$717M-
$716M$286M
$714M-
$710M-
$710M$130M
$708M-
$705M$728M
$702M-
$701M$110M
$700M$1B
$698M$7M
$689M-
$685M-
$680M-
$680M$377M
$672M$2B
$670M$139M
$665M$212M
$665M-
$658M-
$654M$347M
$646M-
$644M$5M
$635M-
$634M-
$627M$33M
$627M-
$620M$71M
$620M-
$620M$9M
$618M-
$617M-
$617M$238M
$616M$323M
$615M$510K
$606M$49M
$604M-
$593M-
$587M-
$585M$345M
$585M$7M
$585M$83M
$582M$211M
$580M$91M
$572M-
$570M-
$567M$460M
$567M$337M
$561M$898M
$559M$132M
$559M$6M
$558M-
$555M$844M
$553M-
$551M$1B
$551M$48M
$548M$24K
$543M-
$542M$203M
$542M-
$541M$219M
$531M$3M
$530M$59M
$525M$46M
$522M-
$516M$197M
$513M-
$512M$163M
$512M$6M
$511M$4B
$511M-
$510M$3M
$508M$4M
$508M-
$506M-
$506M$74M
$497M-
$496M-
$489M$77K
$488M-
$485M-
$482M$189M
$480M-
$476M-
$476M$4M
$473M-
$473M$57M
$472M$453M
$471M$33M
$471M$30M
$470M$313M
$469M$23M
$467M-
$467M$34K
$466M-
$465M$270M
$463M$90M
$456M$353M
$455M$2M
$454M-
$449M-
$448M$2B
$447M$94M
$445M-
$444M$327M
$443M$4M
$440M$738M
$437M$28M
$436M-
$431M-
$431M-
$428M$102M
$426M-
$425M-
$425M$303M
$422M$8M
$421M-
$421M$241M
$418M$56M
$413M$213M
$412M$191M
$407M$68M
$405M$298M
$398M$41M
$393M-
$380M-
$380M$62M
$380M$95M
$379M$23M
$377M-
$376M$706K
$375M($1M)
$374M$2M
$373M-
$368M$81M
$367M-
$367M$2M
$365M$25M
$364M-
$362M-
$361M$239M
$359M$120M
$359M-
$359M$203K
$355M$1M
$353M-
$352M$310M
$351M-
$349M$20M
$349M$2B
$348M$68M
$347M$645K
$341M$22M
$341M-
$340M$262M
$339M$614M
$338M-
$334M$198M
$333M$300M
$332M$66M
$330M$15M
$330M-
$329M-
$328M-
$328M-
$325M$25M
$325M$46M
$321M-
$320M-
$320M$35M
$320M$63M
$319M$15M
$319M-
$318M$989M
$314M$168M
$313M$426M
$312M$2M
$309M-
$308M$42M
$308M-
$306M$222M
$306M$150M
$304M-
$304M-
$302M$123M
$300M$22M
$299M$3M
$299M$49M
$293M$5M
$292M$50M
$292M-
$291M-
$291M-
$291M$49M
$290M$64M
$290M$106M
$288M-
$286M$48M
$286M-
$286M$511M
$284M$70M
$283M-
$283M$11K
$281M$81M
$281M$890M
$281M$69M
$281M$4M
$280M$244M
$277M$4M
$277M$2M
$275M-
$274M-
$273M-
$272M$4M
$271M$25K
$271M$24M
$269M-
$268M-
$263M$58M
$261M$27M
$258M$169M
$254M$343K
$254M$11M
$254M$17M
$253M-
$252M$256K
$252M$398M
$248M$28M
$247M-
$245M$6M
$244M-
$243M-
$242M$99M
$240M$10M
$239M$21M
$237M-
$232M-
$231M$142M
$231M$52M
$231M$9M
$226M$19M
$224M$4M
$223M$28M
$223M$192M
$222M-
$222M$271M
$219M-
$218M$5M
$218M$155M
$218M$126M
$217M$72M
$217M$11M
$217M$41M
$214M$25M
$212M-
$211M$23M
$211M-
$209M$10M
$208M-
$207M$14M
$206M$4M
$205M-
$202M-
$202M-
$202M$13M
$202M$3M
$201M$527M
$201M$116M
$199M-
$197M$1M
$196M$50M
$195M$9M
$195M$20M
$195M$8M
$194M$98M
$193M$42M
$193M-
$191M-
$191M$1M
$191M$4M
$188M$27M
$188M$5M
$187M-
$186M-
$185M$65M
$185M$245K
$185M-
$183M$4M
$182M$19M
$182M$72M
$180M-
$175M$7M
$174M$27M
$170M-
$169M$26M
$169M$23M
$167M-
$167M$18M
$165M-
$164M$23M
$163M-
$163M$61M
$163M-
$162M$817K
$161M$17M
$160M-
$160M$7M
$158M$11M
$157M-
$156M$267M
$156M$5M
$155M-
$154M$4M
$154M$101M
$154M-
$152M$117M
$150M-
$150M-
$150M-
$149M-
$148M$18M
$147M-
$146M$17M
$145M-
$145M-
$144M$277M
$144M-
$143M$929M
$143M-
$142M$9M
$142M$8M
$142M$16M
$141M$118M
$141M$62M
$138M$18M
$138M-
$138M$3M
$138M$16M
$138M-
$137M-
$134M$55M
$133M$15M
$132M$6M
$132M$6M
$131M$67M
$130M$81M
$129M$5M
$129M$4K
$128M$885M
$126M$125M
$126M-
$125M-
$125M-
$123M-
$122M$8M
$121M-
$120M-
$120M-
$120M-
$119M$20K
$118M-
$118M-
$118M-
$118M$31M
$116M-
$116M$17M
$114M-
$113M-
$112M-
$111M$193K
$111M$69M
$110M$817K
$107M-
$107M-
$107M$59K
$107M$20M
$105M-
$105M-
$104M$94M
$104M$6M
$103M-
$103M-
$103M$13M
$103M-
$101M-
$101M$64M
$100M-
$100M-
$99M-
$98M$5M
$98M$39M
$98M-
$95M-
$95M$8M
$95M-
$95M$63M
$94M-
$94M$32M
$94M$791K
$93M$155M
$93M-
$93M-
$92M-
$92M$71M
$91M$16M
$91M-
$91M-
$91M$5M
$89M-
$89M$3M
$89M-
$87M-
$86M$62M
$85M-
$85M$422K
$85M$22M
$85M-
$85M$31M
$84M$6M
$83M-
$83M-
$83M$3M
$82M$8M
$81M$161M
$81M-
$80M$21K
$80M$3M
$80M-
$79M$5M
$79M$113M
$79M$5M
$78M$114M
$78M-
$77M$5M
$77M$43M
$76M-
$76M$1K
$75M$515M
$75M$26M
$75M-
$74M$5M
$74M-
$74M-
$73M-
$73M$1M
$73M-
$72M$48M
$72M-
$71M-
$71M-
$71M-
$70M-
$70M-
$70M-
$69M-
$69M$1M
$69M$60M
$69M$53M
$69M$436M
$69M$7M
$68M$408K
$68M-
$67M$4M
$65M$37M
$65M$354K
$65M$11M
$65M-
$64M-
$63M-
$63M$9M
$63M$6M
$63M$25K
$62M-
$62M-
$62M-
$62M-
$62M$19M
$61M$91M
$61M$38M
$60M-
$60M$40M
$59M-
$58M$621K
$58M-
$58M-
$58M-
$58M$15M
$58M-
$56M-
$55M-
$55M$18M
$55M$88K
$54M$8M
$54M-
$53M$12M
$53M-
$53M-
$53M$8M
$52M$7M
$52M-
$52M$97K
$51M-
$50M-
$50M-
$50M-
$49M-
$49M-
$49M$9M
$49M$14M
$48M-
$48M-
$48M$3M
$48M-
$48M$3M
$47M$1M
$47M-
$47M-
$46M$2M
$46M$2M
$45M-
$44M$20M
$44M-
$44M$12M
$44M$84M
$43M-
$43M-
$43M$2M
$43M$5M
$42M-
$42M-
$41M$0K
$40M$1M
$40M-
$40M-
$40M-
$39M$478K
$39M$17M
$39M-
$39M-
$39M-
$38M$11M
$38M$25K
$38M$30M
$37M$3M
$37M$6M
$37M-
$36M-
$36M-
$36M-
$36M$24M
$35M-
$35M-
$34M$11M
$34M$16M
$34M-
$33M$153M
$33M-
$32M$26M
$32M-
$32M$7M
$31M$2M
$31M$48M
$31M-
$31M$2M
$31M$25M
$31M$51K
$31M-
$30M$4M
$30M-
$30M-
$29M$5M
$29M-
$29M$1M
$29M-
$28M$1M
$28M$161M
$28M-
$28M-
$28M-
$27M$2M
$27M-
$27M-
$27M-
$26M$6M
$26M$71M
$25M-
$24M-
$24M-
$24M-
$24M-
$24M-
$24M-
$23M-
$23M$18M
$23M$1M
$23M$3M
$22M$3M
$22M-
$22M-
$21M$751K
$21M$335M
$21M-
$21M-
$21M$10M
$21M$690K
$20M$2M
$20M$1M
$20M-
$20M-
$20M-
$20M-
$20M$2M
$19M$11M
$19M-
$19M-
$19M-
$19M-
$18M-
$18M-
$18M-
$18M-
$18M-
$18M-
$18M$7M
$18M-
$17M-
$17M-
$17M-
$17M-
$17M$8M
$17M-
$16M-
$16M-
$16M-
$16M-
$16M-
$16M-
$16M-
$15M-
$15M$2M
$15M$16M
$15M$3M
$14M-
$14M-
$14M-
$14M-
$14M$77K
$14M-
$14M-
$13M$123K
$13M$1M
$13M$30M
$13M-
$13M-
$13M-
$13M-
$13M$6M
$12M$44M
$12M$0K
$12M$2M
$12M-
$12M-
$12M-
$12M-
$12M$1M
$11M-
$11M$2M
$11M-
$11M-
$11M-
$11M-
$11M$9M
$11M-
$11M-
$11M-
$11M$2M
$10M-
$10M-
$10M-
$10M-
$10M-
$9M$4M
$9M-
$9M-
$9M-
$9M-
$9M-
$9M-
$9M-
$9M$914K
$8M-
$8M$3M
$8M-
$8M$4M
$8M-
$8M-
$8M$439K
$8M-
$8M-
$8M-
$8M-
$8M$6M
$8M-
$8M$306K
$8M-
$8M-
$7M-
$7M-
$7M$3M
$7M-
$7M$1M
$7M-
$7M-
$7M-
$6M-
$6M-
$6M-
$6M-
$6M-
$6M-
$6M-
$6M-
$5M-
$5M-
$5M-
$5M-
$5M-
$5M-
$5M-
$5M-
$5M-
$5M-
$4M-
$4M-
$4M-
$4M-
$4M$2M
$4M-
$4M-
$4M-
$3M-
$3M-
$3M-
$3M-
$3M-
$3M-
$3M-
$3M-
$3M$5M
$3M-
$2M-
$2M$30M
$2M$2M
$2M$1M
$2M-
$2M-
$2M-
$2M-
$2M-
$2M-
$2M-
$2M-
$1M-
$1M-
$1M-
$1M-
$1M-
$1M-
$1M-
$1M-
$1M-
$1M-
$946K-
$932K-
$771K-
$674K-
$644K-
$489K-
$419K$513M
$412K-
$371K-
$367K-
$356K-
$354K-
$342K-
$313K-
$305K-
$292K-
$254K-
$151K-
$138K-
$90K-
$87K-
$43K-
$41K-
$27K-
$26K-
$17K-
$5K-
$4K-
$2K-
$1K-
$0K-
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