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Largest Test & Measurement Public Companies

Benchmark revenue and EBITDA valuation multiples for public comps like Keyence, Keysight, Teledyne, Fortive and MKS.

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Japan
$407
+10%
$99B
$90B
12.4x
23.7x
United States
$313
+109%
$54B
$54B
9.4x
32.9x
United States
$689
+38%
$32B
$34B
5.5x
22.5x
United States
$59
-20%
$18B
$21B
5.1x
17.0x
United States
$244
+205%
$16B
$20B
5.0x
20.5x
United States
$68
+4%
$16B
$17B
4.8x
16.4x
Taiwan
$33
+268%
$14B
$14B
14.2x
39.3x
China
$2
+112%
$10B
$10B
13.1x
55.3x
Japan
$27
+13%
$8B
$7B
1.9x
11.6x
China
$20
+118%
$6B
$6B
12.6x
81.5x
Japan
$133
+111%
$6B
$5B
2.3x
11.3x
United States
$37
+52%
$5B
$8B
2.1x
8.9x
United States
$152
-20%
$4B
$4B
4.6x
19.1x
United States
$95
-9%
$4B
$5B
1.9x
12.0x
China
$5
+25%
$4B
$4B
7.0x
33.2x
United Kingdom
$56
+65%
$4B
$4B
3.8x
17.7x
Switzerland
$151
+28%
$4B
$4B
5.3x
26.9x
Switzerland
$375
+33%
$3B
$3B
4.8x
41.2x
China
$4
+100%
$3B
$3B
—
—
Japan
$20
+130%
$3B
$2B
2.9x
17.8x
China
$4
+52%
$3B
$2B
4.6x
43.4x
Japan
$41
+41%
$2B
$2B
1.6x
9.6x
Canada
$7
+281%
$2B
$2B
20.9x
87.7x
Finland
$55
+7%
$2B
$2B
2.8x
14.9x
United Kingdom
$35
+54%
$2B
$2B
3.4x
17.3x
China
$8
+5%
$2B
$2B
13.0x
49.8x
China
$6
-16%
$2B
$2B
16.2x
40.5x
Japan
$141
+359%
$2B
$2B
8.9x
28.1x
Taiwan
$6
+69%
$1B
$1B
—
—
Norway
$21
+71%
$1B
$1B
5.1x
18.1x
Switzerland
$71
-20%
$1B
$1B
2.3x
13.5x
Israel
IoT+2
$46
+26%
$909M
$821M
2.3x
8.5x
Australia
$2
+3%
$767M
$766M
5.6x
41.3x
United States
$49
+104%
$654M
$611M
2.0x
21.4x
United States
$93
-22%
$514M
$666M
2.7x
11.0x
United Kingdom
$62
-41%
$415M
$482M
2.7x
11.8x
Israel
$16
-1%
$400M
$469M
—
—
Italy
$5
-6%
$257M
$298M
0.5x
5.1x
United States
$1
-36%
$244M
$191M
60.9x
—
United Kingdom
IoT+2
$4
+41%
$179M
$175M
3.5x
16.0x
France
$51
-12%
$167M
$159M
—
—
Poland
$90
+387%
$150M
$150M
—
—
China
$1
-20%
$101M
$60M
35.2x
(1.6x)
United States
$2
-13%
$90M
$96M
1.8x
(22.7x)
Germany
$11
-28%
$75M
$84M
—
—
United States
$8
+35%
$73M
$55M
1.2x
6.5x
Australia
$0
-37%
$64M
$52M
—
—
Poland
$4
-13%
$58M
$56M
—
—
Poland
$2
-4%
$57M
$71M
—
—
Sweden
$5
-34%
$54M
$52M
1.7x
7.4x
Poland
$5
-12%
$52M
$45M
—
—
Germany
$5
+41%
$47M
$66M
0.7x
6.3x
Sweden
$4
-12%
$47M
$78M
1.0x
6.6x
Poland
IoT+2
$4
+15%
$41M
$39M
—
—
Norway
$0
+25%
$40M
$89M
—
—
France
$7
+63%
$29M
$37M
—
—
Germany
$6
+61%
$29M
$27M
—
—
Sweden
--
--
$25M
$25M
—
—
United States
$4
-2%
$15M
$4M
—
—
Sweden
$2
-37%
$13M
$10M
1.1x
(4.9x)
Norway
$0
-83%
$11M
$11M
—
—
Poland
$0
-25%
$9M
$10M
—
—
Denmark
$0
-50%
$9M
$11M
—
—
Sweden
$1
-11%
$7M
$7M
—
—
Sweden
$0
-54%
$7M
$2M
—
—
Sweden
$4
+2%
$6M
$5M
—
—
Poland
$1
0%
$5M
$5M
—
—
Czech Republic
$1
-42%
$4M
$4M
—
—
Sweden
$1
-54%
$3M
$2M
—
—
Sweden
$0
-22%
$2M
$4M
—
—
United States
$1
-84%
$1M
($3M)
—
—
Poland
$0
+32%
$1M
$1M
—
—
Sweden
$0
-91%
$345K
$64K
—
—

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