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Public Comps and Valuation Multiples
for E-Sports

Benchmark revenue and EBITDA valuation multiples for public comps like DeNA, Nazara Technologies, GameSquare, OverActive Media and MNC Digital Entertainment.

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E-Sports

See analyst estimates and all valuation multiples for E-Sports

Company	EV	EV/LTM Revenue	EV/LTM EBITDA
MNC Digital Entertainment	$2.1B	n/a	n/a
Modern Times Group	$1.7B	1.5x	6.5x
DeNA	$1.5B	1.4x	6.0x
Nazara Technologies	$1.1B	5.2x	48.4x
Better Collective	$1.0B	2.5x	8.1x
HUYA	$292M	0.3x	55.2x
NIP Group	$227M	2.4x	-22.9x
GameSquare	$81.3M	0.9x	-8.3x
Acer Gaming	$70.0M	n/a	n/a
OverActive Media	$27.8M	1.4x	n/a
Allied Gaming	$19.2M	2.1x	n/a
Enthusiast Gaming	$19.1M	0.4x	-172.6x
Skillz	$13.3M	0.1x	-0.3x
Esports Entertainment	$0.9M	n/a	n/a
DouYu	-$61.6M	n/a	n/a