Solocal Valuation Multiples

Rocket Companies is a financial services company that was originally founded as Rock Financial in 1985 and is currently based in Detroit. Rocket Companies offers a wide array of services and products but is best known for its Rocket Mortgage business. The company’s mortgage lending operations are split between its direct-to-consumer lending, which sees borrowers accessing the company’s lending arm directly through either its mobile app or website, and its partner network where mortgage brokers and other firms use Rocket’s origination process to offer loans to their customers. The company has rapidly gained market share in recent years and will also be the largest mortgage servicer in the US following its acquisition of the Mr. Cooper Group.

Publicis Groupe is a French communications group headquartered in Paris and listed on Euronext Paris. Marcel Bleustein-Blanchet founded it in 1926, and it has grown into one of the largest advertising and communications groups in the world. The group provides creative, media planning and buying, digital marketing, data and public relations services to corporate clients through networks such as Publicis, Saatchi & Saatchi, Leo Burnett, Zenith, Starcom and Performics. It operates in more than 100 countries and employs over 100,000 people. In the Czech Republic it ran its agencies through a holding co-owned with local co-founder Martin Stepanek from 1995 until it took full control of that holding in 2016. Revenue comes from fees and commissions on client campaigns and media spend.

Omnicom is a holding company that owns several advertising agencies and related firms. It provides traditional and digital advertising services that include creative design, market research, data analytics, ad placement, and public relations. The firm operates globally, providing services in more than 70 countries; it generates more than one half of its revenue in North America and nearly 30% in Europe.

Focus Media Information Technology Co Ltd is an advertising company. The company's main business is the development and operation of Life Circle media. Its main products are building media (including elevator TV media and elevator poster media) and cinema screen advertising media, etc., covering the work scenes, life scenes, entertainment scenes, and consumption scenes of the mainstream urban consumer groups, and integrating into a life circle media network.

Dentsu Group is the top advertising agency in Japan and the fifth-largest advertising network in the world. It is the oldest advertising agency in Japan, with the original company being established in 1901. Over the years, Dentsu expanded its global footprint through mergers and acquisitions. Currently, international sales account for about 60% of total revenue.

BlueFocus Communication Group Co Ltd provides marketing and brand management services in China and internationally. It offers marketing and brand management services across various disciplines, including strategy, digital, advertising, media, social, PR, design, branding, CRM, data, e-commerce, and mobile solutions to various multinational companies and Chinese enterprises, such as IT, automobile, consumer goods, real estate, finance, and entertainment industries.

Headquartered in the United Kingdom, WPP is the world’s largest ad holding company based on annual revenue. Its services, which include traditional and digital advertising, public relations, and consulting, are provided worldwide, with over 70% of its revenue coming from more developed regions such as North America, the UK, and Western Europe. WPP is the largest media buying entity in the world.

JCDecaux SE is an outdoor advertising company. The company focuses on three main business areas namely Street Furniture, Transport advertising, and Billboard advertising. Street furniture advertising relates to bus stop advertising, newspaper kiosks, public benches, and free-standing panels. Transport which focuses on advertising in land transport networks and airports and Billboard Advertising which concerns the marketing of billboards, neon-light billboards, and advertising wraps. The company generates the majority of its revenue from the Street Furniture segment in the form of Advertising. The company has a geographical presence in Europe, Asia-Pacific, France, the Rest of the world, the United kingdom, and North America.

Outfront Media Inc is a real estate investment trust involved in the ownership of advertising space on its portfolio of billboards and transit displays. The Company generates revenue in the form of rental income by allowing other companies to advertise on its properties and structures under short-term contracts. Outfront Media segments its operations into the United States and International units. Although it also owns assets in Canada and Latin America, the company derives the vast majority of its revenue from billboard advertising agreements in the U.S. Roughly half of the U.S. division's revenue comes from its displays in the New York City and Los Angeles markets. Outfront Media's customers include entities within the retail, television, healthcare, and entertainment industries.

PB Fintech Ltd is an integrated online marketing and consulting firm serving the financial services industry, including insurance. Its revenue mainly comes from commissions on insurance and financial products sold online and offline. Services include online marketing, product aggregation, insurance commissions, outsourcing for insurers, generating sales, IT support, and lending-related fees. The business operates in a single segment focused on financial services, with all revenue generated within India. The Company helps middle-class households secure social security by providing solutions for protecting against death and disease, planning for child education and pensions, and accessing financial and lending products.

CyberAgent is a prominent Japanese media company founded in 1998. Its core businesses include internet advertising, online broadcasting platforms, and gaming.

Hakuhodo is the second-largest advertising agency in Japan, and one of the oldest advertising agencies, founded in 1895. Over the years, Hakuhodo has acquired many international companies, and overseas revenue currently accounts for 15% of total sales.

Strive Inc is a structured finance company and institutional asset manager focused on disciplined capital allocation and long term value creation. The company has adopted bitcoin as its hurdle rate for capital deployment because of its fiduciary duty to maximize long-term value for stockholders, and compounding purchasing power over time. It operates in two reportable operating segments: the Asset Management segment, which provides investment advisory services and the Corporate & Other segment, which includes the company's bitcoin treasury operations. The majority of the revenue is derived from the Asset Management segment.

Rasan Information Technology Co is engaged in online wholesale, electronic publishing, ready software publishing, systems analysis, design and customization of program software, software maintenance, web page design, setting up of web page hosting infrastructure, providing SMS design, and website design. Currently, it is engaged in providing insurance aggregator, online auto auction, and online leasing insurance services. The company's operating segments include Tameeni-Motors, Tameeni-Health, Leasing, Awal Mazad, and R Solutions. Maximum revenue is derived from the Tameeni Motors segment which offers a B2C digital platform providing vehicle owners access to motor insurers.

Stagwell Inc is the challenger holding company built to transform marketing. It delivers scaled creative performance for the world's ambitious brands, connecting culture-moving creativity with a technology to harmonize the art and science of marketing. The company's segments include Integrated Agencies Network; Brand Performance Network; and Communications Network. It generates maximum revenue from the Integrated Agencies Network segment. Geographically, it derives a majority of its revenue from the United States.

Stroeer SE & Co KGaA is a Germany-based holding company focused on promotional media services outside of the home. It operates in three main business segments, Out of Home (OOH) Media which generates key revenue, Digital & Dialog Media, and DaaS & E-commerce. The OOH Media segment encompasses the Group's entire OOH advertising business, comprising the Classic OOH, Digital OOH, and OOH services product groups. Digital & Dialog Media segment provides solutions for online advertising in the context of proprietary and third-party content. The scalable products marketed on this basis range from branding and storytelling to performance, native advertising, and social media. Geographically, it generates the majority of its revenue from Germany.

Founded in 2008 as a media content platform, Autohome is the leading online automobile platform in China, ranking first among automotive service platforms in terms of mobile daily active users, according to QuestMobile. Through its two websites, autohome.com.cn and che168.com, Autohome delivers comprehensive, independent, and interactive content and tools to automobile consumers as well as a full suite of services to automakers and dealers. According to iResearch, the company was the largest online automotive advertising and lead-generation service provider in China's online auto platform media advertising market, in terms of media services and lead-generation revenue.

Havas NV is a communications group providing integrated advertising, media, and healthcare-focused communication services. Its has three business lines: (i) Havas Creative, which delivers creative services, from advertising, brand strategy and business transformation to digital and social media solutions as well as public relations and events; (ii) Havas Media, which is dedicated to delivering comprehensive media experiences, through media planning and buying, fan engagement, retail media and e-commerce, as well as data analytics services to optimize client advertising investments; and (iii) Havas Health, which focuses on healthcare and wellness communications, providing specialized marketing services to pharmaceutical companies. The majority of revenue is derived from Havas Creative.

Ziff Davis Inc is a digital media and internet company operating a portfolio of brands across technology, shopping, gaming and entertainment, health and wellness, connectivity, and cybersecurity. The company has five reportable segments. The Technology & Shopping segment generates revenue from advertising and commerce content. The Gaming & Entertainment segment provides content, subscriptions, and digital storefront services. The Health & Wellness segment offers digital tools and content for health management. The Connectivity segment provides data and analytics solutions for network performance. The Cybersecurity & Martech segment delivers cloud-based software for security and marketing. It generates the majority of its revenue from the Health & Wellness segment.

4imprint Group PLC is engaged in the sale and distribution of promotional products. The company operates in two geographical segments; North America and the United Kingdom and Ireland, Out of which a majority of its revenue is derived from the North American segment. Its products comprise apparel, stationery, technology, and food products among others. The company's plan of action involves achieving organic growth. This implies the use of data-driven, offline, and online direct marketing techniques thereby capturing large and fragmented promotional product markets.

Guangdong Advertising Group Co Ltd is a advertising and marketing company. It provides professional marketing services.

Moltiply Group is an Italian holding company based in Milan, formerly called Gruppo MutuiOnline, founded in 2000 by Marco Pescarmona and Alessandro Fracassi with the online mortgage broker MutuiOnline.it. It operates through two divisions: Mavriq, which groups online comparison and brokerage brands in Italy, Germany, Spain, France, the Netherlands and Mexico, and Moltiply BPO&Tech, which provides process outsourcing and technology services to Italian banks, insurers and leasing companies. Its shares have been listed on Borsa Italiana since June 2007. Consolidated revenues were EUR 674.1 million in 2025. Growth has come largely from acquisitions, including Rastreator, LeLynx, Pricewise, Switcho and Verivox in comparison and Trebi in software for leasing.

Zhewen Interactive Group Co Ltd is engaged in digital marketing, with technology and data driving traffic operations, and digging into the value of traffic. It provides corporate marketing planning, corporate image planning, exhibition and display services; design, production, agency, and advertising.

CHEIL Worldwide Inc is a Korean-based advertising and media firm. The company mainly provides strategic, creative, experimental, digital and creative solutions. Its services involve brand activation and retail marketing. It also provides its clients around the world with integrated marketing solutions.

Mony Group PLC operates a tech-led savings platform, driven by the purpose of helping households save money. Its comparison sites include MoneySuperMarket, TravelSuperMarket, and Icelolly making it easy to find deals and save money on household bills and financial products, from car, pet, travel, and home insurance to credit cards, loans, savings, pensions, mortgages, bank accounts, holidays, car hire, broadband and TV packages.

Trustpilot Group PLC and its subsidiaries consist of developing and hosting an online review platform that helps consumers make purchasing decisions and businesses showcase and improve their services. Trustpilot is open, independent, and impartial and helps consumers make the right choices and businesses to build trust, grow and improve. The group consists of more than 300 million reviews and approximately 64 million monthly active users across the globe, with around 140 billion annual Trustbox impressions.

Hunan TV & Broadcast Intermediary Co Ltd operates in the advertising industry.

LegalZoom.com Inc is an online provider of services that meet the legal needs of small businesses and consumers in the United States. The company also offers services that include ongoing compliance and tax advice and filings, business licenses, accounting, virtual mailbox and e-signature solutions, trademark filings, and estate plans.

Plan B Media PCL is principally engaged in providing advertising media production, advertising space, and airtime rental services. The group has two principal reportable segments, which are the Out-of-home media segment comprising advertising media production, advertising space and airtime rental services, and Engagement marketing segment comprising sports marketing and artist management. The majority of its revenue is derived from the Out-of-home media segment.

Ibotta Inc is a performance marketing platform. It allows CPG brands to deliver digital promotions to consumers through a single, convenient network called the Ibotta Performance Network (IPN).

Yelp Inc operates in the online content market based in the United States. It provides a web-based platform and mobile application to bridge the gap between businesses and consumers. The platform assists consumers through product reviews, tips, photos and videos thereby enabling them in making better buying decisions and posting their feedbacks. Its products and services includes Advertising Products and Business Page Products. In addition, it also lets the buyers directly transact with businesses directly through its platform. Yelp generates revenue mainly from the sale of advertising on its website and mobile app to businesses. The company generates majority of the revenue from United States.

QuinStreet Inc focuses on marketplaces and technologies for the financial services and home services industries. It delivers measurable and cost-effective marketing results to its clients, in the form of qualified inquiries such as clicks, leads, calls, applications, or customers. It generates revenue by delivering measurable online marketing results to the clients. Its products and services are Customer Acquisition, QuinStreet Rating Platform (QRP), and CloudControlMedia. Geographically, it operates in United States and Internationally, of which maximum revenue is derived from United States.

MediaAlpha Inc provides a platform that enables insurance carriers and distributors to target and acquire customers. The company's technology platform brings insurance carriers and consumers together through a real-time, transparent, and results-driven ecosystem. It serves as a customer acquisition channel in property and casualty insurance, health insurance, and life insurance. The company operates in the United States and generates revenue by earning a fee for each consumer referral sold on its platform.

EverQuote Inc operates an online marketplace for insurance shopping, connecting consumers with insurance providers, including carriers and agents. Its marketplace is powered by proprietary data and technology platform that delivers high-intent, pre-validated consumer referrals aligned with insurers underwriting and profitability requirements. The platform provides transparency and campaign management tools, enabling providers to evaluate marketing spend performance and manage return on investment. Consumers can visit insurance provider websites, engage by phone, or submit data to receive quotes. Services are free for consumers, and the company derives revenue principally from consumer inquiries sold as referrals to insurance providers. It derives a majority of revenue from Direct channels.

Beijing Zhidemai Technology Co Ltd is a shopping portal that integrates shopping guide, media, tools and community attributes. It introduces high-quality and consumer-oriented content to users with high-quality, good-quality products and services, providing users with high efficiency, precision and neutrality.

APG SGA SA is a Swiss out-of-home advertising media company. As a media company, it transports advertising messages into public and private areas with posters, screens, and related media as promotions and mobile advertising. This media performance is generated in streets, city centers, pedestrian zones, railway stations, shopping centers, airports, tourist resorts, and on the outside and inside of public transport vehicles. The company's regional segments are Switzerland, and Serbia, out of which a majority of its revenue comes from Switzerland.

Nerdwallet Inc is a company that provides consumer-driven advice about personal finance through its platform by connecting individuals and small and mid-sized businesses (SMBs) with providers of financial products. It gets revenue from fees paid by its financial services partners in the form of either revenue per action, revenue per click, revenue per lead and revenue per funded loan arrangements.

Bengo4.com Inc provides online legal consultation services. The company offers contents such as Q&A services, a database of over 7,000 registered lawyers, and its own news services accompanied with legal analysis of recent news to legal professionals.

Groupon Inc is a globalised, scaled two-sided marketplace that connects consumers to merchants. Its categories include Local: local inventory includes things to do, beauty and wellness, food and drink, home and automotive services, online services, as well as other types of experiences and services. Goods: Includes merchandise across multiple product lines, such as electronics, sporting goods, jewelry, toys, household items and apparel, and Travel: Features travel experiences at both discounted and market rates, including hotels, airfare, and package deals covering both domestic and international travel. The company operates in two segments, North America and International, with the majority of revenue from the Local category from the North America Segment.

Arabian Contracting Services Co is an outdoor advertising solution provider, offering clients expertise across a multitude of platforms and disciplines. It is mainly engaged in establishing and operating outdoor advertising billboards, including roadside and indoor advertisements. The group's operating segments are Advertising and Others. The Advertising segment, which generates a majority of its revenue, is engaged in the provision of indoor and outdoor advertisements. The Others segment includes all types of printing work and retail sales by mail. Geographically, the group derives maximum revenue from its business in the Kingdom of Saudi Arabia, and also has a presence in the Arab Republic of Egypt and the United Arab Emirates.

OOh media operates a network of out-of-home advertising sites with a commanding 35% share of the Australian market, and also has a sizable presence in New Zealand. It boasts a diverse portfolio of locations to service the needs of out-of-home marketers, and is particularly strong in the roadside billboard, street furniture and rail, and retail (shopping malls) segments. OOh!media offers these advertising services by entering into space lease arrangements with owners of out-of-home sites, and extracting margins on those lease concessions from firms advertising on those sites. oOh!media is effectively an intermediary allowing site owners to monetize their visible space in high-traffic areas.

Vector Inc is a Japanese-based company involved in four main businesses which are public relation (PR), Digital PR, Facebook marketing and Facebook marketing business. The company provides various services as per the requirements of companies and consumers. In addition, it also offers other services covering areas such as management, finance, accounting, human resources, administration, internal controls, and audits.

Hypoport AG operates as a technology-based financial service provider in Germany. The company is engaged in the development, operation and marketing of technology platforms for the credit, housing and insurance industries. The Business segments of the group are divided into Real Estate & Mortgage Platforms, Insurance Platforms and Financing Platforms.. The company generates the majority of its revenue from the Real Estate & Mortgage Platforms segment. The Real Estate & Mortgage Platforms segment is involved in the development of technology platforms for brokering, financing and valuing private residential properties. The vision for this segment is to provide a seamless cross-media process for the purchase, valuation and financing of residential real estate in Germany.

Ciwen Media Co Ltd is a China-based company engaged in the investment, manufacture, and publication of movie and television plays. It is also engaged in the research, development, and promotion of games, artist brokerage business and the provision of information technology. The company distributes its products within domestic market and to overseas markets.

Entravision Communications Corp owns and operates Spanish language television and radio stations in the United States. The Company also owns and operates a smaller group of television stations that broadcast English language programming and has operations that provide programmatic advertising technology and services. The Company has organized its operations into two reportable segments. Its media segment includes its television, radio, and digital marketing operations. Its advertising and technology services segment provides programmatic advertising and technology services. The company generates the majority of its revenue from the Media segment. Geographically, the company generates the majority of its revenue from the United States.

FILA-Fabbrica Italiana, known as F.I.L.A., is an Italian manufacturer of art, craft and school supplies founded in 1920 and headquartered in Milan. It is listed on Euronext Milan and sells coloring, drawing, modelling, writing and painting tools under brands that include Giotto, Das, Lyra, Canson, Daler-Rowney, Dixon Ticonderoga and Maimeri. The group has grown through a series of acquisitions, among them Adica Pongo, Dixon Ticonderoga, Lyra, Lapiceria Mexicana, Lycin, Daler-Rowney Lukas, Canson and Pacon, and in January 2026 it took control of Seven, a school backpack and stationery maker. It reported 2024 group revenue of 612.6 million euros with normalized EBITDA of 118.2 million euros, and holds a minority stake in the Indian listed company Doms Industries.

Innocean Worldwide Inc is a Korea-based company that conducts its business as an advertising agency. The company is engaged in the production of commercial advertising and promotional materials, and other related business activities. The group has a single segment of advertising agencies, from where it generates its entire revenue.

FS Development Investment Holdings is a Chinese marketing-communications group headquartered at Oriental Plaza in Beijing and listed on the ChiNext board of the Shenzhen Stock Exchange (stock code 300071); it was formerly named Spearhead Integrated Marketing Communication Group (Huayi Jiaxin). Its services fall into three lines: digital marketing, covering content, social-media, video, live-stream and private-domain marketing and influencer placement; experiential marketing built around brand events and interactive activities; and public relations and advertising, including brand strategy, media relations and crisis management. It runs its own AIGC tools, the DS AI Chain platform and the FlinkAI full-funnel marketing platform, and its public-relations subsidiary ranked 21st in PRovoke Media's 2024 global top 250 PR agencies. Clients are brand owners that pay fees for campaigns; carmakers supplied about 45% of 2024 revenue, with brands such as Changan Mazda, Ford, Wuling, Honor and Vivo among its award-winning accounts. In 2024 the group reported revenue of 1.22 billion yuan, down 11.5%, a net loss attributable to shareholders of 130.5 million yuan, and 787 employees. The company was founded in January 2003 and listed on 21 April 2010, raising 325 million yuan at 25 yuan a share. Chen Yongliang, its actual controller with a 10.2% stake, has been chairman since November 2020.