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Public Comps and Valuation Multiples for Contract Research & Manufacturing

Benchmark revenue and EBITDA valuation multiples for public comps like
Wuxi AppTec, Lonza Group, Samsung BioLogics, IQVIA and Sartorius.

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Contract Research & Manufacturing

Viewing 50 of 75 companies with full data

Company	Market Cap	Enterprise Value	LTM Revenue	EV/LTM Revenue	EV/LTM EBITDA
Wuxi AppTec	$46B	$41B	$7B	5.8x	11.7x
Lonza Group	$44B	$49B	$9B	5.6x	17.5x
Samsung BioLogics	$44B	$43B	$3B	13.2x	24.1x
IQVIA	$28B	$42B	$17B	2.5x	10.8x
Sartorius	$19B	$22B	$4B	6.1x	19.7x
Divi's Laboratories	$19B	$19B	$1B	16.4x	49.7x
Wuxi Biologics	$17B	$15B	$3B	4.6x	11.8x
Eurofins Scientific	$13B	$17B	$9B	1.9x	8.6x
Medpace	$12B	$12B	$3B	4.5x	20.5x
Wuxi XDC	$9B	$8B	$994M	8.3x	26.5x
ICON plc	$9B	$12B	$8B	1.5x	8.1x
Charles River	$8B	$11B	$4B	2.7x	10.9x
Laurus Labs	$8B	$8B	$733M	10.6x	40.2x
Dixon Technologies	$7B	$7B	$5B	1.3x	36.0x
Asymchem Laboratories	$7B	$5B	$1B	5.2x	19.5x
Repligen	$6B	$6B	$771M	8.3x	42.4x
Pharmaron Beijing	$6B	$7B	$2B	3.2x	13.6x
Avantor	$6B	$9B	$7B	1.4x	8.8x
Hangzhou Tigermed	$5B	$5B	$1B	4.8x	28.6x
Siegfried	$4B	$4B	$2B	2.5x	10.5x
Brightgene Bio-medical	$4B	$4B	$182M	21.2x	75.4x
Genscript Biotech	$4B	$3B	$902M	3.4x	18.6x
Laboratorios Rovi	$4B	$4B	$886M	4.0x	13.7x
Hybio Pharmaceutical	$3B	$3B	—	—	—
Apeloa Pharmaceutical	$3B	$3B	$1B	1.8x	10.0x
Sai Life Sciences	$2B	$2B	$235M	10.4x	36.3x
Piramal Pharma	$2B	$3B	$952M	3.0x	27.6x
Fagron	$2B	$2B	$1B	2.1x	10.2x
PharmaResearch	$2B	$2B	$394M	4.3x	10.1x
Granules India	$2B	$2B	$577M	3.5x	15.5x
Syngene	$2B	$2B	$397M	4.6x	18.2x
ST Pharm	$2B	$2B	$245M	7.8x	29.5x
Jiuzhou Pharmaceutical	$2B	$1B	$793M	1.8x	6.7x
Jubilant Pharmova	$2B	$2B	$862M	2.2x	14.0x
PolyPeptide	$2B	$2B	$492M	3.4x	24.5x
AbCellera	$2B	$1B	$58M	21.0x	(5.8x)
Bora Pharmaceuticals	$2B	$2B	$630M	3.1x	10.8x
Aurisco Pharmaceutical	$1B	$1B	$261M	5.0x	12.1x
Shanghai Medicilon	$1B	$1B	$187M	6.7x	—
Fortrea	$1B	$2B	$3B	0.8x	11.2x
Porton Pharma Solutions	$1B	$1B	$525M	2.4x	12.0x
Sino Biological	$1B	$723M	—	—	—
Evotec	$1B	$960M	$897M	1.1x	27.1x
ACROBiosystems	$1B	$862M	$136M	6.3x	22.7x
Oxford BioMedica	$1B	$1B	$257M	4.2x	75.8x
Gubra	$863M	$712M	$286M	2.5x	3.4x
Sirio Pharma Co	$844M	$1B	$646M	1.6x	10.8x
Akums Drugs and Pharma	$829M	$668M	$464M	1.4x	11.8x
R&G PharmaStudies	$757M	$510M	$128M	4.0x	17.6x
Aarti Pharmalabs	$669M	$732M	—	—	—
Maravai LifeSciences	$651M		$196M
Scinopharm Taiwan	$485M		—
Emergent BioSolutions	$436M		$739M
Novartis India	$344M		—
Forward Industries	$343M		$45M
Dishman Carbogen Amics	$319M		—
Frontage Laboratories	$236M		$267M
Binex	$208M		$119M
Savior Lifetec	$188M		—
Mycenax Biotech	$188M		—
Lifecore Biomedical	$185M		$95M
Euroapi	$166M		$948M
Selvita	$150M		$103M
Genovis	$145M		$15M
Prestige Biologics	$105M		—
Nanoform	$87M		$5M
Champions Oncology	$83M		—
J. Molner	$46M		—
WDB coco	$39M		$30M
Cryosite	$37M		—
Mabion	$33M		—
LSL Pharma Group	$33M		—
Viropro	$12M		—
Inotiv	$9M		$513M
ExpreS2ion Biotech	$2M		—