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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
$1.0T$1.0T$74B14.2x29.8x
$549B$582B$97B6.0x16.0x
$397B$461B$64B7.2x16.6x
$330B$353B$80B4.4x11.1x
$297B$340B$66B5.2x12.9x
$279B$319B$55B5.8x13.9x
$275B$301B---
$195B$215B$47B4.5x9.4x
$187B$232B$37B6.2x13.6x
$179B$219B$46B4.8x18.9x
$160B$175B$30B5.9x15.6x
$146B$197B$62B3.2x8.4x
$132B$145B$25B5.8x18.3x
$116B$152B$48B3.2x8.6x
$112B$107B$12B8.6x19.5x
$102B$119B$55B2.1x7.2x
$100B$121B$45B2.7x7.9x
$78B$73B$8B8.7x16.8x
$67B$77B$24B3.1x11.0x
$67B$72B$23B3.1x10.3x
$66B$60B$15B4.0x11.2x
$56B$55B$9B5.8x17.1x
$50B$46B$5B9.2x30.4x
$49B$49B$15B3.3x36.7x
$48B$74B$29B2.6x9.4x
$47B$49B$6B8.7x35.4x
$46B$40B$5B8.1x27.8x
$45B$45B$4B10.2x28.7x
$44B$41B$6B6.6x23.0x
$43B$48B$9B5.5x17.3x
$43B$38B$7B5.4x10.9x
$41B$41B$3B12.4x22.7x
$41B$39B$5B8.6x40.2x
$40B$54B$17B3.1x10.4x
$40B$73B$53B1.4x6.5x
$39B$41B$7B5.6x19.3x
$38B$48B$15B3.2x12.2x
$37B$42B$5B9.2x27.4x
$35B$33B$16B2.1x9.1x
$35B$39B$12B3.4x15.2x
$33B$41B$10B4.2x9.7x
$33B$31B$43M732.7x(22.3x)
$32B$36B$11B3.4x13.0x
$32B$31B$3B12.3x(132.1x)
$32B$42B$15B2.7x8.0x
$31B$45B$17B2.7x11.6x
$30B$27B$6B4.6x32.1x
$29B$37B$21B1.8x10.0x
$29B$31B$10B3.2x10.3x
$28B$27B$6B4.8x12.5x
$27B$14B
$27B$21B
$26B$3B
$25B$4B
$24B$3B
$24B$14B
$24B$4B
$24B$27B
$23B$3B
$23B$2B
$23B$3B
$23B$1B
$23B$3B
$22B$11B
$21B$14B
$21B$22M
$20B$2B
$20B$5B
$20B$4B
$20B$4B
$20B-
$19B$11B
$19B$3B
$19B$15B
$18B$1B
$18B$8B
$18B$1B
$17B$4B
$17B$3B
$17B$4B
$17B$2B
$17B-
$17B$3B
$16B$3B
$15B$2B
$15B$4B
$15B$4B
$15B$3B
$14B$5B
$14B$4B
$14B$4B
$14B$2B
$14B$1B
$13B$16B
$13B$2B
$13B$700M
$13B$3B
$13B$360M
$13B$6B
$13B$1B
$13B$9B
$12B$921M
$12B$5B
$12B$4B
$12B$216M
$12B$3B
$12B$783M
$12B$3B
$12B$8B
$12B$572M
$12B$345M
$12B$2M
$11B-
$11B$3B
$11B$1B
$11B$3B
$11B$2B
$11B$632M
$11B$4B
$11B-
$11B$4B
$11B$1B
$11B$5B
$11B$3B
$11B$571M
$11B$4B
$10B$3B
$10B$2B
$10B$11B
$10B$95M
$10B$5B
$9B$1B
$9B$446M
$9B$2B
$9B$4B
$9B$4B
$9B$4B
$8B$2B
$8B$1B
$8B$4B
$8B$1B
$8B$750M
$8B$853M
$8B$737M
$8B$6B
$8B$3B
$8B$2B
$8B$813M
$8B$5B
$8B$155M
$8B$3B
$7B$715M
$7B$1B
$7B$5M
$7B$2M
$7B-
$7B$3B
$7B$5B
$7B$2B
$7B$7B
$7B$560M
$7B$774M
$7B$3B
$7B-
$7B$2B
$7B-
$7B-
$7B$31M
$7B$5B
$7B$8B
$7B$3B
$7B-
$7B$4B
$7B$242M
$7B$1B
$7B$38M
$7B$2B
$6B$3B
$6B$9B
$6B$2B
$6B$1B
$6B$7B
$6B-
$6B$1B
$6B$755M
$6B$9M
$6B$15B
$6B$57M
$6B-
$6B$239M
$6B$4M
$6B$5B
$6B$1B
$6B-
$6B$2B
$6B$736M
$6B$587M
$6B$5M
$6B$400M
$6B$859M
$5B$19M
$5B$5B
$5B$3M
$5B-
$5B$939M
$5B-
$5B$5M
$5B$2B
$5B$1B
$5B$1B
$5B-
$5B$3B
$5B$7M
$5B$1B
$5B$370M
$5B-
$5B$637M
$5B$275M
$5B-
$5B$539M
$5B$1B
$5B$424M
$5B$2M
$5B$634M
$5B$22M
$4B$1B
$4B$1B
$4B$1B
$4B$2B
$4B$377M
$4B$231M
$4B$3B
$4B$580M
$4B$1B
$4B$708M
$4B$630M
$4B-
$4B-
$4B$3B
$4B$1B
$4B-
$4B$2B
$4B$418M
$4B$1B
$4B-
$4B-
$4B-
$4B$547M
$4B-
$4B$3B
$4B$2B
$4B$2B
$4B$1B
$4B$586M
$4B$608M
$4B$58M
$4B$25M
$4B$406M
$4B$688M
$4B$40B
$4B$790M
$4B$2B
$4B$921M
$4B-
$4B$915M
$4B$1B
$4B$1B
$4B$24B
$4B$2B
$4B$34M
$4B$897M
$4B$674M
$4B$454M
$4B$1B
$4B$6B
$4B$198M
$4B$887M
$4B-
$3B$117M
$3B-
$3B$988M
$3B$271M
$3B$110M
$3B$1B
$3B$2B
$3B$2B
$3B$1B
$3B$599M
$3B$38M
$3B$21M
$3B$14M
$3B$874M
$3B$180M
$3B$1B
$3B-
$3B$183M
$3B$4B
$3B-
$3B-
$3B$580M
$3B$180M
$3B-
$3B$415M
$3B-
$3B$2B
$3B$693M
$3B$341M
$3B$902M
$3B$281M
$3B$161M
$3B$1B
$3B$360M
$3B$690M
$3B$13M
$3B$311M
$3B$1B
$3B$428M
$3B$1B
$3B-
$3B-
$3B$1B
$3B$298M
$3B$1B
$3B-
$3B$8M
$3B$2B
$3B$13M
$3B$556M
$3B$17M
$3B$782M
$3B$140M
$3B-
$3B$237M
$3B$2B
$2B$617M
$2B$235M
$2B-
$2B$15M
$2B$1B
$2B$2M
$2B$956M
$2B-
$2B$2B
$2B$702M
$2B$245M
$2B$2B
$2B$217M
$2B$235M
$2B$5M
$2B$198M
$2B-
$2B-
$2B-
$2B$164M
$2B$2B
$2B$919M
$2B$258M
$2B-
$2B$788M
$2B$1B
$2B$555M
$2B-
$2B$460M
$2B$5B
$2B$122M
$2B$301M
$2B$19B
$2B$267M
$2B-
$2B$64M
$2B$581M
$2B$305M
$2B$587M
$2B$395M
$2B$69M
$2B$49M
$2B$910M
$2B$1B
$2B-
$2B$333M
$2B$10B
$2B$305M
$2B$403M
$2B$399M
$2B$57M
$2B$52M
$2B$929M
$2B$262M
$2B$622M
$2B$32M
$2B$117M
$2B$235M
$2B$116M
$2B$812M
$2B$536M
$2B$193M
$2B$107M
$2B$927M
$2B$60M
$2B$300M
$2B$398M
$2B$761M
$2B$2B
$2B-
$2B$785M
$2B$986M
$2B$123M
$2B$9M
$2B-
$2B-
$2B$312M
$2B$39M
$2B-
$2B$18M
$2B$2B
$2B$329M
$2B$1B
$2B-
$2B$4B
$2B$260M
$2B-
$2B$82M
$2B$410M
$2B$106M
$2B-
$2B$164M
$2B$6M
$2B$1B
$2B$242M
$2B-
$2B$851M
$2B$805M
$2B$245M
$2B$6M
$2B$437M
$2B-
$2B$3M
$2B$780M
$2B-
$2B$424M
$2B$3B
$2B$793M
$2B$50M
$2B-
$2B$1B
$2B$888M
$2B$246M
$2B-
$2B$234M
$2B$122M
$2B$188M
$2B-
$2B$69M
$2B$497M
$2B-
$2B$144M
$2B$108M
$2B-
$2B$814M
$2B$416M
$2B$4B
$2B$11M
$2B$782M
$2B$187M
$1B$188M
$1B$205M
$1B$4B
$1B$759M
$1B-
$1B-
$1B$629M
$1B$90M
$1B$421M
$1B$117M
$1B$283M
$1B$4B
$1B$235M
$1B$58M
$1B$9M
$1B$487M
$1B$51M
$1B-
$1B-
$1B-
$1B$59M
$1B$4B
$1B-
$1B$107M
$1B$115M
$1B$177M
$1B-
$1B-
$1B-
$1B$1B
$1B$744K
$1B$466M
$1B$175M
$1B-
$1B$363M
$1B$305M
$1B-
$1B$1B
$1B-
$1B$606M
$1B-
$1B$74M
$1B$197M
$1B$250M
$1B$56M
$1B$1B
$1B$206M
$1B$49M
$1B$815M
$1B-
$1B$412M
$1B$247M
$1B$189M
$1B$2B
$1B$49M
$1B$606M
$1B$19M
$1B$59M
$1B-
$1B$4M
$1B$2B
$1B$262M
$1B$318M
$1B$529M
$1B$366M
$1B-
$1B$577M
$1B$188M
$1B$13M
$1B-
$1B$397M
$1B$1M
$1B-
$1B$40M
$1B-
$1B-
$1B$67M
$1B$4B
$1B-
$1B$332M
$1B$821M
$1B$628M
$1B$126M
$1B-
$1B$240M
$1B$5M
$1B$62M
$1B$896M
$1B-
$1B$19M
$1B$52M
$1B$164M
$1B$216M
$1B-
$996M$2B
$986M($85K)
$985M$522M
$984M$368M
$971M$611M
$956M-
$951M$984M
$941M$458M
$936M$179M
$931M$962K
$930M$524K
$930M$464M
$929M$260M
$925M-
$925M$339M
$923M$138M
$921M-
$910M-
$907M$608M
$901M$274M
$901M$112M
$898M$98M
$893M-
$892M$744M
$891M$482M
$891M$6M
$890M$102M
$887M$8M
$886M$68M
$885M$466M
$880M$145M
$875M-
$874M$180M
$873M$410M
$867M$382M
$861M$146M
$861M$1B
$861M$255M
$858M$104M
$857M$47M
$852M-
$844M$111M
$842M$45M
$839M$18M
$830M-
$830M$7M
$828M-
$825M$731M
$824M-
$822M$5M
$819M$340M
$816M-
$816M$451M
$813M$3M
$807M-
$806M$397M
$802M$2M
$799M$176M
$797M$90M
$792M$92M
$786M$243M
$785M$649M
$780M$312M
$779M$729M
$778M$79M
$776M$205M
$776M-
$769M$818M
$764M-
$762M$203M
$756M$8M
$745M$10M
$741M$29M
$740M$84M
$736M$196M
$730M-
$720M$1B
$715M$34K
$714M$1M
$714M-
$713M-
$708M$5M
$703M-
$702M-
$701M$5K
$697M-
$692M$57M
$687M-
$685M-
$679M-
$671M-
$670M$321M
$667M-
$662M-
$662M$130M
$661M$124M
$659M-
$658M-
$658M$7M
$658M-
$657M$2B
$655M$348M
$654M-
$654M$4B
$650M-
$648M$210M
$647M$1B
$641M-
$626M-
$625M$8M
$621M$887M
$615M$4M
$615M$3M
$614M$3M
$612M-
$607M-
$606M-
$605M$239M
$601M-
$601M$110M
$598M-
$598M$348M
$598M-
$591M$150M
$589M$212M
$586M-
$581M$38M
$572M-
$572M-
$569M$26K
$567M$459M
$565M$355M
$564M$89M
$559M$284M
$558M$131M
$558M$366M
$554M$335M
$551M-
$546M-
$543M-
$536M$216M
$534M-
$532M$56M
$529M-
$524M$192M
$523M$53M
$520M$23M
$520M$47M
$512M-
$509M$7M
$504M-
$503M$163M
$500M$70M
$499M$274M
$499M$203M
$497M$89M
$493M-
$489M-
$484M$41M
$484M-
$484M-
$481M-
$480M$337M
$479M$354M
$478M$66M
$476M-
$474M$78M
$464M$303M
$464M$4M
$463M$95M
$461M$3M
$461M-
$461M$4M
$461M$30M
$458M$30M
$455M$830M
$451M$34M
$443M$99M
$442M$841M
$441M$303M
$439M$2M
$436M-
$436M-
$435M$739M
$435M$311M
$435M-
$432M$190M
$428M$87K
$426M-
$426M-
$423M-
$414M$120M
$411M$62M
$411M$2M
$408M$308M
$406M$7M
$405M$264M
$404M$3M
$404M-
$401M-
$399M-
$399M$241M
$395M$63M
$394M-
$393M$41M
$386M$24M
$383M$2B
$383M($1M)
$381M-
$381M$730K
$380M-
$378M$24M
$378M$15M
$376M-
$376M$236M
$375M$990M
$373M-
$372M-
$372M$93M
$371M$673K
$368M$168M
$368M$573K
$366M-
$365M$47M
$362M-
$357M$212M
$356M$3M
$355M$198M
$354M-
$348M-
$347M-
$347M-
$346M$607M
$346M-
$342M-
$341M$67M
$341M$299K
$340M-
$340M$169M
$339M$62M
$337M$26M
$336M$81M
$336M-
$336M$66M
$336M$25M
$334M$299M
$332M-
$331M$32M
$331M$4M
$330M-
$327M-
$325M$106M
$325M$19M
$324M-
$324M$58M
$321M$70M
$320M-
$320M-
$319M$443M
$318M$977K
$317M$82M
$317M-
$317M$482K
$315M$71M
$314M-
$313M-
$313M-
$310M-
$310M-
$307M$123M
$305M$26K
$303M$61M
$302M$70M
$302M$15M
$300M$56M
$299M-
$298M$51M
$296M$245M
$296M$47M
$295M$11K
$294M-
$294M-
$294M$34M
$291M$42M
$290M-
$290M$10M
$289M$200M
$283M$5M
$282M$4M
$279M-
$276M-
$273M$524M
$273M$3M
$272M$23M
$271M$144M
$268M-
$267M$886M
$265M-
$261M-
$260M$224M
$257M$6M
$256M-
$256M$9M
$255M$400M
$254M$72M
$248M$20M
$248M-
$248M$193M
$247M-
$244M$155M
$244M$19M
$243M$11M
$243M$55M
$239M$526M
$239M$19M
$238M-
$238M$269M
$237M$31M
$235M$13M
$235M-
$235M-
$234M$4M
$232M-
$229M$54M
$227M$11M
$227M$4M
$226M$5M
$226M$19M
$225M-
$224M$12M
$222M$13M
$222M-
$220M$29M
$219M$42M
$218M$4M
$217M$95M
$216M$10M
$216M-
$216M$1M
$215M$21M
$215M-
$214M-
$213M$142M
$212M$46M
$210M$19M
$209M-
$206M$142M
$205M$16M
$203M$49M
$202M-
$201M$26M
$201M$15M
$200M-
$200M-
$199M$5M
$198M$8M
$197M-
$197M-
$197M$115M
$197M-
$192M$2M
$192M-
$191M-
$189M$21M
$189M-
$186M-
$186M-
$186M$20M
$183M-
$181M-
$180M-
$177M$214K
$174M$63M
$173M$118M
$173M$67M
$171M$71M
$171M$98M
$171M-
$170M$10M
$168M$4M
$168M$24M
$168M$81M
$168M$21M
$167M-
$166M$28M
$165M$20M
$165M-
$163M-
$163M$63M
$163M-
$162M$64M
$162M$21M
$162M-
$160M$4M
$159M$4M
$156M-
$156M$2M
$152M$896M
$152M$113M
$151M$7M
$150M$2M
$150M-
$150M$103M
$149M$16M
$148M$712K
$147M$9M
$147M$8M
$147M$2M
$145M-
$144M$3M
$144M-
$144M-
$143M$945M
$142M-
$142M-
$141M$124M
$140M$15M
$140M-
$139M-
$139M$55M
$138M$5K
$137M$7M
$136M$12M
$136M-
$136M$5M
$134M-
$132M-
$131M$5M
$129M$16M
$128M$286M
$127M-
$127M$25M
$127M-
$126M-
$125M$21M
$125M$5M
$125M-
$123M$217K
$122M-
$121M-
$121M-
$120M-
$120M$43M
$119M$23K
$118M$11M
$117M$51K
$116M$17M
$116M-
$116M$69M
$115M$5M
$114M$6M
$114M-
$114M-
$113M$13M
$112M-
$111M-
$111M-
$109M$8M
$108M$3M
$108M$32M
$108M$444K
$107M-
$106M$9M
$106M$5M
$106M$31M
$103M-
$102M$154M
$102M-
$102M$16M
$101M$3M
$100M$6M
$100M-
$99M$825K
$99M$436M
$99M-
$98M$22M
$97M-
$96M$4M
$95M-
$95M-
$95M$7M
$94M$5M
$94M-
$93M-
$93M$92M
$93M$8M
$93M$72M
$93M-
$93M-
$92M$70M
$92M-
$91M$161M
$90M$29M
$90M-
$89M-
$89M-
$88M-
$88M-
$88M-
$87M-
$87M-
$86M-
$86M$65M
$86M-
$86M-
$85M-
$84M$113M
$84M$116M
$84M$40M
$83M$61M
$82M$36M
$81M-
$81M-
$81M-
$80M$936K
$80M-
$80M$8K
$80M-
$80M-
$79M-
$78M$2M
$78M$48M
$78M-
$77M$26M
$77M$1M
$76M-
$76M$64M
$74M$14M
$74M-
$73M-
$73M-
$73M$6M
$73M$5M
$73M$3M
$72M-
$72M-
$72M$515M
$71M-
$71M$11M
$70M-
$69M$52M
$68M-
$68M-
$68M$91M
$67M$9M
$66M$758K
$66M$86M
$66M$643K
$66M$361K
$66M-
$66M$641K
$66M-
$64M$19M
$64M$458K
$64M$7M
$64M-
$63M-
$62M-
$61M$88K
$60M$24K
$60M$8M
$58M$6K
$58M-
$57M-
$57M$12M
$56M-
$56M-
$56M-
$55M-
$55M$21M
$55M-
$55M$40M
$54M-
$54M-
$54M-
$53M-
$53M-
$53M-
$53M$18M
$51M$109K
$51M$2M
$50M-
$50M$6M
$50M$38M
$50M-
$50M-
$50M-
$50M$2M
$50M-
$50M$1M
$49M-
$48M$12M
$48M-
$48M-
$47M-
$46M$12M
$46M-
$46M$2M
$46M$319K
$45M-
$45M-
$45M-
$44M$3M
$44M$2M
$44M$3M
$43M$16M
$43M$23M
$42M$4M
$42M-
$42M-
$42M$43M
$41M-
$41M-
$41M-
$40M-
$39M-
$39M$30M
$38M-
$38M$1M
$37M$15M
$37M$904K
$37M$86K
$37M-
$36M$7M
$36M$20M
$36M$29K
$36M-
$36M$7M
$35M-
$35M-
$35M$155M
$34M$48M
$34M$26M
$34M$482K
$34M-
$34M$160M
$33M$10M
$33M-
$33M-
$33M$1M
$33M$4M
$32M$6M
$32M$7M
$32M-
$32M-
$32M-
$32M$2M
$31M$57K
$31M$3M
$30M-
$30M-
$30M-
$29M$335M
$29M-
$29M-
$29M-
$29M-
$29M-
$28M$1M
$28M$2M
$28M-
$28M-
$27M$11M
$27M-
$27M$71M
$27M-
$27M-
$26M-
$26M$5M
$26M-
$26M$1M
$25M$10M
$25M-
$25M$3M
$24M$3M
$24M-
$24M-
$23M$18M
$23M-
$23M$3M
$23M$937K
$22M-
$22M-
$22M-
$22M-
$22M-
$21M-
$21M-
$21M-
$21M-
$21M-
$21M-
$21M-
$21M-
$21M-
$21M$3M
$21M-
$20M-
$20M$7M
$20M-
$20M$2M
$20M$6M
$19M$2M
$19M$653K
$19M-
$19M-
$19M$44M
$19M-
$19M$8M
$19M-
$18M$1M
$18M-
$18M-
$17M$2M
$17M$77K
$17M-
$17M-
$16M-
$16M-
$16M$15M
$16M-
$16M$700K
$15M$432K
$15M-
$15M-
$15M-
$15M-
$15M-
$14M$30M
$14M-
$14M-
$14M$1M
$14M-
$14M$1M
$13M-
$13M-
$13M-
$13M-
$13M-
$13M-
$12M-
$12M-
$12M$3M
$11M-
$11M$18M
$11M$9M
$11M$2M
$11M-
$11M-
$11M$913K
$11M-
$11M-
$11M-
$11M-
$11M-
$10M$4M
$10M$6M
$10M-
$9M-
$9M$1M
$9M-
$9M-
$9M-
$9M$5M
$9M-
$9M-
$9M-
$9M-
$9M$439K
$8M-
$8M-
$8M-
$8M$306K
$8M-
$8M-
$8M-
$8M-
$8M-
$8M-
$8M$1M
$8M-
$8M-
$7M$30M
$7M-
$7M-
$7M-
$7M-
$7M-
$7M-
$6M-
$6M-
$6M$2M
$6M-
$6M-
$6M-
$6M-
$6M-
$6M-
$5M-
$5M-
$5M-
$5M-
$5M-
$5M-
$5M-
$5M-
$5M-
$5M-
$4M-
$4M$2K
$4M-
$4M-
$4M-
$4M-
$3M-
$3M-
$3M-
$3M-
$3M-
$3M$513M
$3M-
$3M-
$3M$5M
$3M-
$3M-
$3M$2M
$2M-
$2M-
$2M-
$2M-
$2M-
$2M-
$2M-
$2M-
$2M-
$2M-
$2M-
$2M-
$2M-
$1M-
$1M-
$1M-
$1M-
$1M-
$1M-
$1M-
$942K-
$932K-
$792K-
$716K-
$698K-
$464K-
$427K-
$423K-
$412K-
$371K-
$305K-
$292K-
$281K-
$259K-
$173K-
$151K-
$90K-
$87K-
$67K-
$43K-
$41K-
$27K-
$26K-
$17K-
$5K-
$4K-
$4K-
$2K-
$0K-
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