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Public Comps and Valuation Multiples
for E-Sports

Benchmark revenue and EBITDA valuation multiples for public comps like HUYA, Acer Gaming, GameSquare, Modern Times Group and Nazara Technologies.

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E-Sports

See analyst estimates and all valuation multiples for E-Sports

Company	EV	EV/LTM Revenue	EV/LTM EBITDA
Modern Times Group	$1.9B	1.6x	7.0x
MNC Digital Entertainment	$1.8B	n/a	n/a
DeNA	$1.6B	1.6x	6.7x
Nazara Technologies	$1.1B	4.8x	42.6x
Better Collective	$1.0B	2.4x	7.9x
NIP Group	$183M	2.1x	-18.5x
HUYA	$115M	0.1x	21.0x
Acer Gaming	$72.2M	n/a	n/a
GameSquare	$61.5M	0.7x	-7.0x
OverActive Media	$19.7M	1.0x	n/a
Enthusiast Gaming	$16.0M	0.3x	-146.6x
Allied Gaming	$2.1M	0.2x	n/a
Esports Entertainment	$0.9M	n/a	n/a
Skillz	-$6.8M	-0.1x	0.2x
DouYu	-$98.7M	n/a	n/a