Ultimate Products Valuation Multiples

Samsung Electronics is a diversified electronics conglomerate that manufactures and sells a wide range of products including smartphones, televisions, home appliances, telecommunications network equipment, as well as electronic and device components such as semiconductors and flat panel displays. Samsung is the world's largest manufacturer of smartphones and televisions as well as memory semiconductor products. The Manufacturing and sale of mobile phones and semiconductors make up >70% of both the company’s revenue as well as its profit.

Midea Group Co., Ltd. is one of the largest household appliance manufacturers in China, with key products such as air conditioners, refrigerators, washing machines and small household appliances. It is consistently ranked as one of the top three players in China by retail sales in most home appliance categories. The firm also engages in industrial automation and robotics systems through wholly owned Kuka, a global market leader based in Germany. Heating, ventilation, and air conditioning, or HVAC, products generally contribute the most to Midea's revenue, followed by other consumer appliances, and robotics and automation systems. In addition, Midea generates around 40% of sales outside of China.

Gree Electric Appliances is one of the largest heating, ventilating, and air conditioning, or HVAC, product manufacturers in China, with key products such as residential and commercial air conditioners. Gree generates over 80% of sales domestically and is backed by China’s Zhuhai local government. Air conditioners remain the biggest contributor to Gree’s earnings, with an over 70% representation over the years. The company has also made forays into industrial component parts, photovoltaic equipment, new energy vehicles, and battery production. As of March 2025, Chairwoman Dong Mingzhu and privately owned investment entity Zhuhai Mingjun collectively held 18% of its total equity interest, while state-owned Zhuhai Gree Group owned about 3.5%.

Haier Smart Home is one of the largest household appliance manufacturers globally, with key products spanning refrigerators, washing machines, kitchen appliances, air conditioners, and water solutions. It has been consistently among the top three in China by retail sales in most home appliance categories. The company has also established a footprint in distribution channel services and commercial refrigeration business. Haier generates around 50% of sales outside China. As of December 2024, Haier Group and its subsidiaries are the largest shareholders of Haier Smart Home with around 29% equity interest in aggregate.

Geberit is a leading manufacturer of sanitary products, which include flushing systems, piping systems, and bathroom ceramics. Products are primarily sold through the wholesale channel. Geberit has an extensive history in sanitary products, having filed a patent for its first flushing mechanism in 1912. The company generates sales in 50 countries and operates 26 production plants, the majority of which are in Europe. Geberit shares are listed on the SIX Swiss Exchange. The majority of sales are generated from residential and renovation activities.

SharkNinja Inc is a product design and technology company that creates 5-star-rated lifestyle solutions through inventive products for consumers around the world. Its product categories include Cleaning, Cooking, Food Preparation, Home Environment and Beauty products. It sells vacuum cleaners, cooking pots, fryers, hair dryers, etc. The SharkNinja Group is expected to carry on the design, production, marketing, and distribution of the Shark and Ninja brands of small household appliances in North America, Europe and other selected international markets (excluding the Asia Pacific Region and Greater China). Currently, the majority of the revenue is derived from the U.S. market.

Somnigroup International Inc is a bedding company, dedicated to improving people's lives through good sleep. With superior capabilities in design, manufacturing, distribution and retail, It delivers breakthrough sleep solutions and serves the evolving needs of consumers in more than 100 countries world-wide through its fully-owned businesses, Tempur Sealy, Mattress Firm and Dreams. The company's portfolio includes the brand such as Tempur-Pedic, Sealy and Stearns & Foster, and its Multinational omnichannel platform enables the company to meet consumers wherever shop, offering a personal connection and innovation to provide a retail experience and tailored solutions.

LG Electronics India Ltd is engaged in the manufacturing of televisions (flat panel, signage, projectors, monitor TVs), air conditioners, refrigerators, microwave ovens, washing machines, dishwashers, vacuum cleaners, ceiling fans, audio-visual equipment, water purifiers, air purifiers, compressors, personal computers, and security cameras. It has identified two primary business segments: the Home Appliances and Air Solution division, and the Home Entertainment division. The majority of the company's revenue is generated from the Home Appliances and Air Solution division. The company operates across various geographies, including Domestic markets, Africa, Europe, Asia (excluding India), and others, with the majority of its revenue coming from the Domestic market.

CCL Industries Inc manufactures and sells packaging and packaging-related products. The company operates through various segments, which include The CCL segment, which generates the majority of revenue, and sells pressure-sensitive and extruded film materials used for labels on consumer packaging, healthcare, automotive, and consumer durable products. The Avery segment sells software, labels, tags, dividers, badges, and specialty card products under the Avery brand. The Checkpoint segment includes the manufacturing and selling of technology-driven, inventory management and labeling solutions. Innovia segment manufactures specialty films. Its geographical segments include Canada; USA and Puerto Rico; Mexico, Brazil, Chile, and Argentina; Europe; and Asia, Australia, Africa, and New Zealand.

TOTO Ltd manufactures and sells bathroom materials for maintenance, improvement, construction, and home improvement projects. The company's product portfolio includes toilets, urinals, sinks, plumbing accessories, bathtubs, unit bathrooms, faucets, drain fittings, marble counters, and electric water heaters, and others.. The firm organizes itself based on geography and operates through six business segments, which include the Japan Housing Equipment Business segment, the Mainland China Business segment, the Asia and Oceania Business segment, the Americas Business segment, the Europe Business segment, and the New field business - Ceramic business.. It generates the majority of its revenue from the Japan Housing Equipment Business segment.

Nitori Holdings Co Ltd is a Japan-based company engaged in the sale of furniture and interior goods. The company operates through two business segments. The Nitori Business segment is involved in the development, manufacturing, and sale of furniture and interior goods, along with activities such as real estate leasing, advertising, and logistics services. The Shimachu Business segment focuses on the sale of furniture, interior goods, and home center products. It generates the majority of its revenue from the Nitori Business segment.

Havells India Ltd manufactures and distributes electrical equipment for consumer and industrial applications. Its product portfolio includes fans, appliances, switches, lighting, switch gears, circuit breakers, water heaters, air purifiers, flexible cables, air coolers, monoblock and submersible pumps, personal grooming products, motors, and reactive power solutions. The firm has seven manufacturing facilities, all of which are in India. The company operates in multiple segments: switchgear (domestic and industrial), Cables (domestic and industrial underground), Lighting and Fixtures (LED lamps), Electrical Consumer Durables (fans, water heaters), Lloyd Consumer products (air conditioners, televisions), and Others (industrial motors, water purifiers).

NIBE Industrier AB manufactures and sells energy-efficient products for industrial and consumer use. The firm is organized into three segments by product type. The climate solutions segment, which generates the majority of revenue, sells HVAC systems and hot water heaters to homes, apartment buildings, and other large properties. The elements segment sells components and elements to multiple industries, including appliance manufacturers, home remodelers, energy, and automotive. The stoves segment sells energy-efficient stoves and chimney systems to residential and commercial customers. The vast majority of revenue comes from Europe.

Mohawk Industries Inc manufactures a wide range of flooring products, including carpets, rugs, ceramic tile, laminate, wood, luxury vinyl tile, and vinyl flooring. Its operating segments include Global Ceramic, Flooring North America, and Flooring Rest of the World. The company generates maximum revenue from the Global Ceramic segment. Global Ceramic designs, manufactures, sources, distributes and markets a broad line of ceramic, porcelain and natural stone tile products used for floor and wall applications in residential and commercial channels for both remodeling and new construction. Geographically, it derives a majority of its revenue from the United States, while it also operates in Latin America, Europe and Others.

De'Longhi SPA is an Italy-based company that is principally engaged in designing, producing, and selling small domestic appliances. The company's products consist of coffeemakers, cooking and food products, home-care products, air conditioners and air treatment products, electric heaters, and others. The company offers products under four brands: De'Longhi, Kenwood, Nutribullet, Magic Bullet, Braun, and Ariete. It has two business segment Household and Professional divisions. Key revenue is generated from Household segment. The company has a business presence across the world, including Europe, America, MEIA Asia Pacific, and others, The company generates maximum revenue from Europe.

Howden Joinery Group PLC is a U.K.-based company that manufactures, sources, and sells kitchen and joinery products. The Group’s operations are mainly located in the United Kingdom with a small presence in France, Belgium, and the Republic of Ireland. It generates the majority of its revenue from the U.K. The firm caters to small, local homebuilders. The company's products are divided among its kitchen collection, which includes kitchen accessories and cabinets; the appliance collection, which includes ovens, refrigeration, dishwashers, and laundry; the doors and joinery collection, which includes internal, external, and sliding doors and frames; the hardware collection, which includes door handles and accessories; the flooring collection; and the bathroom cabinet collection.

Floor & Decor Holdings Inc operates as a specialty retailer in the hard surface flooring market. Its stores offer a range of tile, wood, laminate, and natural stone flooring products, as well as decorative and installation accessories at everyday low prices. It appeals to a variety of customers including professional installers, commercial businesses, Do It Yourself (DIY) customers, and customers who buy the products for professional installation. Geographically, the group has a presence in the United States region and also offers its product through an e-commerce site. The company segments include retail segment and others.

Hisense Home Appliances Group Co Ltd is a manufacturer of white household electrical appliances in the People's Republic of China, with eight brand names, namely Hisense, Ronshen, KELON, HITACHI, YORK, Gorenje, ASKO, and SANDEN. The company produces refrigerators, air-conditioners, freezers, washing machines, and Kitchen electrical appliances. The businesses of the Company are set out as follows: HVAC Business Work; Refrigerator and Washing Machine Business Work; Automotive Air Conditioner Compressor and Integrated Thermal Management System Business Work; Smart Home Business Work; Overseas Markets for Home Appliances Business Work and Implementing the Manufacturing Work. The majority of the company's revenue is generated from China.

Fortune Brands Innovations Inc is a home, security, and digital products company. It offers products like faucets, accessories, luxury hardware, kitchen sinks, locks, electronic security products, exterior door systems, etc, through various brands such as Moen, ROHL, Riobel, Therma-Tru, Master Lock, American Lock, Yale, etc. The company sells products via dealers, distributors, showrooms, and e-commerce. Its reportable segments are: Water Innovations (Water), Outdoors, and Security. Maximum revenue is generated from the Water segment, which manufactures or assembles and sells faucets, accessories, luxury hardware, kitchen sinks, and waste disposals under different brands. Geographically, the firm derives its key revenue from the United States, followed by China, Canada, and other markets.

Supor is one of the largest kitchen electric appliance, cookware, and utensil manufacturers in China, with a business footprint in most Chinese provinces through online and offline channels. In 2007, France-based kitchen appliance producer Groupe SEB acquired 53% of Supor’s shares and became its controlling shareholder. Groupe SEB held 83% of Supor’s equity interest in 2024. Aside from domestic presence, Supor generates about 30% of revenue from North American, Latin American, European, and Asian markets, mainly through Groupe SEB’s distribution network.

Sichuan Changhong Electric Co Ltd is a China-based manufacturer and distributor of electronics and home appliances. It specializes in research and development, manufacturing, and marketing of various series of products, including TVs, refrigerators, air conditioners, cell phones, electronic components, compressors, and IT-integrated service businesses represented by mass distribution of digital products and cloud computing value-added services.

Ecovacs Robotics Co Ltd is engaged in research and development, design, production, and sales of various types of household service robots, small cleaning appliances, and other intelligent household equipment and related components. The company offers service robots under the Ecovacs brand, including products such as robotic vacuum cleaners, window cleaners, air purifiers, and lawn mowers. Through its Tineco brand, it provides smart home appliances like floor scrubbers, vacuum cleaners, food processors, and air-conditioning and heating devices.

Coway is a Korean-based company engaged in the manufacturing of water filtration appliances, air purifiers, and bidets. The company's product portfolio consists of water purifiers, air purifiers, electronic bidets, non-electronic bidets, water softeners, vacuum cleaners, water dispensers, food waste treatment solutions, and sewage treatment solutions for household and business uses. It is also involved in the mattress rental and related home furniture products.

Beijing Roborock Technology Co Ltd is engaged in design, research and development, production (through commissioned processing), and sales of intelligent hardware such as intelligent cleaning robots. The company’s key products include Xiaomi’s customized Mi Home intelligent cleaning robots and handheld wireless vacuum cleaners, along with its own Roborock and Xiaowa-branded intelligent cleaning robots.

SEB SA is engaged in designing, manufacturing, and marketing cookware and small household appliances including pressure cookers, irons, steam generators, kettles, waffle makers, deep fryers, toasters, and food processors, among others. The products are marketed under various brands such as Tefal, Seb, Rowenta, Moulinex, Krups, Lagostina, All-Clad, WMF, Emsa, Supor, etc. The group's activities are organized into two activities: Consumer business, which derives maximum revenue, and Professional business. Geographically, the group generates maximum revenue from Western Europe, followed by China, North America, South America, and other countries in Europe, the Middle East, Africa (EMEA), and Asia.

Breville designs and distributes small kitchen appliances globally. The vast majority of revenue is derived from the firm's global product segment, which distributes premium appliances under the Breville brand in Australia, New Zealand, and North America and the Sage brand in the UK and Europe. The company's distribution segment sells products designed and developed by a third party under Breville-owned brands such as Breville or third-party brands such as Nespresso.

LIXIL Corp is a Japan-based company engaged in housing and building materials businesses. The company operates through two main segments: Water Technology Business and Housing Technology Business. The Water Technology Business manufactures and sells sanitary ware, water faucets, bathroom units, and system kitchens. The Housing Technology Business provides windows, doors, shutters, interior and exterior building materials, curtain walls, housing solutions, and real estate management services. It generates the majority of its revenue from the Water technology business segment.

Oppein Home Group Inc is engaged in personalized design, research and development, production, sales, installation, and interior decoration services for whole-house customized home products. The company's main product lines include complete kitchen cabinetry, customized wardrobes, bathroom furnishings, and wooden doors.

Rinnai Corporation is engaged in the manufacture and sale of thermal equipment. The company operates through six regional segments based on its production and sales systems: Japan, America, Australia, China, South Korea, and Indonesia. Its products include water heaters, kitchen appliances, air-conditioning appliances, commercial-use equipment, and others.

Jason Furniture (Hangzhou) Co Ltd is a China-based company engaged in the Research and development, design, production and sales of mid- to high-end sofas, soft beds and other soft furniture products for living rooms and bedrooms.

Vohringer Home Technology Co Ltd, formerly Shanghai Vohringer Wood Product Co Ltd is engaged in the development and sale of wood flooring and wood custom furniture for the whole house. The company's main products include laminate flooring, multi-layer parquet, three-layer solid wood flooring, pure wooden floors.

Kingclean Electric Co Ltd is a China-based company engaged in manufacturing and selling of vacuum cleaners. It also offers garden tools, car motor, hard floor polisher, carpet washer and small home appliances like food cooking machine, juicer, and soymilk maker. The company operates three categories of its core business, High-speed motor and automobile motor, Cleaning appliance and kitchen appliance, and Garden tool products.

Higold Group Co Ltd is engaged in Research and development, design, production and sales of household hardware and outdoor furniture.

HNI Corp is a provider of commercial furnishings and hearth products. Its two reportable segments are workplace furnishings and residential building products. The workplace furnishings segment includes furniture systems, seating, storage, tables, architectural products, ancillary products, and hospitality products. The residential building products segment includes various gas, wood, electric, and pellet-fueled fireplaces, inserts, stoves, facings, outdoor fire pits and fire tables, and accessories. The company's products are sold through independent dealers, distributors, eCommerce retailers, wholesalers, and retail outlets. A majority of the firm's revenue is generated from the Workplace furnishings segment. Geographically, it operates in the United States.

Central Garden & Pet Co offers solutions that support healthier pets, greener lawns, and thriving gardens. Its products include dog and cat treats, chews, toys, beds, containment, grooming supplies, aquatics, small animal and bird supplies, equine and livestock products, insect control solutions, grass seed, wild bird feed, fertilizers, pest controls, live plants, and packet seeds, sold under brands such as Aqueon, Nylabone, Kaytee, Farnam, Pennington, Ferry Morse, Amdro, and Sevin. The company operates through two segments, Pet and Garden, and sells through retailers, independent stores, eCommerce channels, and professional markets. It has sales and distribution operations mainly across the United States, with additional facilities in Canada and Mexico.

Whirlpool Corp is a manufacturer and marketer of kitchen and laundry appliances, with its presence in different markets around the world. It offers products like refrigerators, washing machines, cooktops, ovens, freezers, and others, which are marketed through various brands such as KitchenAid, Maytag, Amana, Brastemp, Consul, Whirlpool, Jennair, etc. The company's operating and reportable segments are: Major Domestic Appliances (MDA) North America (its key revenue-generating segment), MDA Europe, MDA Latin America, and Small Domestic Appliances (SDA) Global.

Husqvarna AB provides products and solutions for managing forests, parks, and gardens. The product range includes robotic mowers, battery and petrol-powered chainsaws, trimmers, riding lawn mowers, as well as watering solutions. In addition, the group offers equipment for sawing and drilling in concrete surfaces, floor preparation, as well as diamond tools for the light construction industry. Its products are marketed mainly under the Husqvarna and Gardena brands. The group's operating segments include the Husqvarna Forest and Garden Division, which generates key revenue, the Gardena Division, and the Husqvarna Construction Division. Geographically, it generates maximum revenue from the United States and the rest from Germany, France, Sweden, the United Kingdom, Austria, and other regions.

Shanghai Flyco Electrical Appliance Co Ltd is a China-based company engaged in the manufacturing and marketing of shaver and personal care electrical appliances. Its product portfolio comprises of the shaver, hair drier, hair clipper, hair straightener, hair curler, electric iron, garment steamer, lint remover, nose hair trimmer, robot vacuum cleaner and others. The company's products are sold in China and other countries.

Hangzhou Robam Appliances Co Ltd is a China based company developing manufacturing and selling household electrical kitchen appliances in China. Some of its products include hood, stove, utensil, disinfection cabinet, electric oven, dishwasher and among others. The company earns majority of its revenue from sale of electrical kitchen appliances.

Newell Brands Inc is an American consumer goods company with a portfolio of brands, including Rubbermaid, Sharpie, Graco, Coleman, Rubbermaid Commercial Products, Yankee Candle, Paper Mate, FoodSaver, Dymo, EXPO, Elmer’s, Oster, NUK, Spontex and Campingaz. The group is focused on delighting consumers by lighting up everyday moments. Its segments are Home and Commercial Solutions, Learning and Development, and Outdoor and Recreation. The group geographic areas are the United States, Canada, Europe, the Middle East and Africa, Asia Pacific, and Latin America.

Spectrum Brands Holdings Inc is consumer products and home essentials company. The company is a supplier of consumer batteries, residential locksets, residential builders' hardware, grooming products and personal care products. The company manages the businesses in product-focused segments; Home and Personal Care, global Pet Care, and Home and Garden. The Company manufactures, markets and distributes its products globally in the North America, Europe, Middle East & Africa, Latin America, and Asia-Pacific.

Crompton Greaves Consumer Electricals Ltd manufactures and markets consumer products in India. Its operating segments are Electric Consumer Durables Lighting Products and Butterfly. The company offers Fans, Lights, Water Heaters, Air Coolers, Home Appliances, Kitchen Appliances, Built-in Appliances, and Pumps. The company operates predominantly in the domestic market, in India.

AUX Electric Co Ltd is one of the air conditioner providers, with capabilities covering the design, R&D, production, sales and related services of household and central air conditioners. It is a key player for smart-enabled air conditioners within the industry, maintaining technology capabilities such as voice recognition and semantic understanding.

Welspun Living Ltd Formerly Welspun India Ltd is an India-based company that makes and sells home textiles. The company's products consist of towels, bath robes, bath rugs and mats, area rugs, carpets, bed sheets, utility bedding, and fashion bedding. The company owns several brands, including Christy, Spaces, Welhome, and Others. The company has a world-wide distribution network, with the United States, the United Kingdom, and Europe.

La-Z-Boy Inc is a U.S.-based company that manufactures, distributes, and retails upholstery furniture products. It is a producer of reclining chairs and distributors of residential furniture in the U.S. The company chiefly operates in the United States but also has secondary operations in Canada and other countries. The company's reportable segments include the Wholesale segment, which manufactures and imports upholstered furniture; Retail, which sells upholstered and case goods furniture to the end consumer and corporate and others. The majority of the company's revenue is derived from its Wholesale segment.

Man Wah Holdings Ltd is an investment holding company. The company's segment includes Sofas and ancillary products; Bedding and ancillary products; Other products; Other business and Home Group business. It generates maximum revenue from the Sofas and ancillary products segment. Sofas and ancillary products segment manufacture and distribution of sofas and ancillary products through wholesale and distributors other than those by Home Group Ltd and its subsidiaries. Geographically, it derives a majority of its revenue from PRC (including Hong Kong and Macau) and also ahs its presence in North America, Europe and others.

Richelieu Hardware Ltd is a Canada-based company that imports, manufactures, and distributes specialty hardware and complementary products. Headquartered in Montreal, the company operates across Canada and the eastern and midwestern regions of the United States. The majority of the company's sales are derived from its operations in Canada. Richelieu's products include furniture, bathroom cabinet, glass, decorative, window, and door hardware, lighting systems, and kitchen and closet storage. The firm majorly serves home furnishing manufacturers, residential and commercial woodworkers, hardware retailers and renovation superstores.

Arcelik AS is a Turkey-based company that is principally engaged in manufacturing household appliances. Its products consist of consumer durable goods, consumer electronics, kitchen accessories, and small home appliances. It provides after-sale services as well. It supplies products and services under the brands of Altus, Arctic, Arcelik, Beko, Blomberg, Dawlance, Defy, Elektrabregenz, Flavel, Grundig, Leisure, and VoltasBeko among others. The company's reportable segments are White goods and Consumer Electronics. The majority of its revenue is derived from the White goods segment which comprises washing machines, dryers, dishwashers, refrigerators, ovens, cookers, and the services provided for these products. Geographically, key revenue for the company is generated from Europe.