Public Comps and Valuation Multiples for Real Estate Development

Benchmark revenue and EBITDA valuation multiples for public comps like
Vingroup, Sun Hung Kai Properties, Goodman Group, Samsung C&T and D.R. Horton.

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Real Estate Development

CompanyMarket CapEnterprise ValueLTM RevenueEV/LTM RevenueEV/LTM EBITDA
$62B$71B$16B4.6x26.9x
$43B$54B$11B4.8x13.5x
$43B$44B$2.2B19.8x22.9x
$41B$40B$31B1.3x12.1x
$41B$46B$33B1.4x10.4x
$32B$56B$37B1.5x8.5x
$28B$43B$12B3.7x14.9x
$28B$118B$308B0.4x8.9x
$27B$21B$14B1.5x3.2x
$25B$25B$17B1.5x8.5x
$25B$55B$17B3.2x15.5x
$22B$27B---
$21B$23B$7.3B3.1x9.1x
$20B$24B$33B0.7x9.7x
$19B$41B$24B1.7x14.3x
$18B$37B$36B1.0x8.2x
$18B$23B$2.3B10.1x19.6x
$17B$41B$2.6B15.7x16.0x
$17B$17B$923M17.9x81.8x
$17B$24B$3.4B7.1x24.8x
$17B$17B$9.8B1.7x11.0x
$16B$19B$9.9B2.0x6.4x
$16B$23B$5.3B4.4x23.0x
$14B$1.8B$8.2B0.2x0.4x
$14B$24B$27B0.9x9.8x
$14B$1B
$14B$11B
$13B$619M
$13B-
$13B$1.9B
$12B$19B
$10B$22B
$10B$14B
$9.7B$41B
$9.2B$2.4B
$8.3B$5.3B
$8.1B$445M
$8.1B$982M
$7.5B-
$7.3B$860M
$7.2B$729M
$7.1B-
$7.1B$1.4B
$7B$696M
$6.7B$1.8B
$6.7B$1.5B
$6.6B$13B
$6.6B$749M
$6.6B-
$6.5B$596M
$6.4B$996M
$6.3B$821M
$6.1B-
$6.1B$627M
$6.1B$12B
$6B$8.1B
$5.8B-
$5.8B-
$5.8B$1.2B
$5.5B$29B
$5.3B$5.9B
$5.2B$3.7B
$5.1B-
$5B$5.2B
$5B$447M
$4.9B$641M
$4.8B$5.6B
$4.6B-
$4.6B$1.1B
$4.6B$2.3B
$4.6B$603M
$4.5B$509M
$4.4B$580M
$4.4B$3B
$4.3B$323M
$4.2B$400M
$4B-
$4B-
$4B$1.6B
$4B$3.1B
$4B$5.1B
$3.9B-
$3.9B$270M
$3.9B-
$3.8B$4.3B
$3.6B$259M
$3.6B$823M
$3.5B$223M
$3.4B-
$3.4B$5.5B
$3.2B$4.2B
$3.2B$1.2B
$3.2B$331M
$3B$2B
$3B$420M
$2.9B$3.5B
$2.8B-
$2.8B$333M
$2.8B$310M
$2.8B$461M
$2.8B$473M
$2.7B-
$2.6B$504M
$2.6B$1.8B
$2.5B$259M
$2.5B$380M
$2.5B-
$2.5B$556M
$2.5B-
$2.5B$899M
$2.5B-
$2.5B$264M
$2.5B-
$2.4B$124M
$2.4B$3.9B
$2.3B-
$2.3B$234M
$2.3B$556M
$2.1B$257M
$2B$301M
$2B$330M
$2B$650M
$2B$3.9B
$2B$259M
$2B$114M
$1.9B-
$1.9B$670M
$1.9B$396M
$1.9B$485M
$1.9B$184M
$1.9B$839M
$1.9B$175M
$1.9B$1.2B
$1.8B$1.2B
$1.8B$115M
$1.8B-
$1.8B-
$1.8B$5.9B
$1.8B$977M
$1.8B$1.6B
$1.7B$329M
$1.7B-
$1.6B$319M
$1.6B$501M
$1.6B-
$1.6B$276M
$1.6B-
$1.6B$352M
$1.6B-
$1.6B$214M
$1.5B$6.3B
$1.5B$501M
$1.5B$539M
$1.5B$1.2B
$1.5B$1.7B
$1.5B$1.9B
$1.4B$376M
$1.4B$362M
$1.4B-
$1.4B$45M
$1.4B-
$1.4B-
$1.4B-
$1.4B$235M
$1.4B-
$1.4B$115M
$1.3B$674M
$1.3B$588M
$1.3B$1.8B
$1.3B$4.3B
$1.3B$819M
$1.3B-
$1.3B-
$1.3B-
$1.3B-
$1.3B-
$1.2B-
$1.2B$186M
$1.2B-
$1.2B$240M
$1.2B$173M
$1.2B-
$1.2B$88M
$1.2B-
$1.1B$15B
$1.1B-
$1.1B-
$1.1B$994M
$1.1B$5.5B
$1.1B-
$1.1B$50M
$1.1B$166M
$1B-
$1B-
$1B-
$1B-
$990M-
$984M$287M
$941M-
$925M$240M
$921M-
$920M-
$915M$190M
$903M-
$898M-
$898M$115M
$896M-
$895M$202M
$892M-
$889M-
$887M$548M
$885M-
$859M$1.2B
$857M$495M
$857M-
$840M$318M
$833M$538M
$832M-
$830M-
$828M$101M
$816M-
$813M-
$804M-
$789M$230M
$773M$2.8B
$768M$922M
$763M-
$761M$327M
$755M$2.2B
$752M-
$748M$114M
$747M-
$734M$76M
$734M-
$727M$36M
$726M$1B
$721M$129M
$710M$78M
$695M-
$695M-
$693M$269M
$690M$129M
$681M$172M
$678M$111M
$662M$484M
$651M-
$642M-
$631M-
$620M$125M
$616M$358M
$609M-
$597M$79M
$590M-
$587M-
$584M-
$584M$334M
$581M-
$575M-
$574M$124M
$572M$624M
$553M$315M
$552M$1B
$544M-
$543M-
$520M-
$518M-
$517M-
$514M-
$487M$130M
$484M$53M
$482M-
$477M-
$472M-
$471M-
$470M-
$466M$2.2B
$456M$76M
$454M$3.1B
$453M$142M
$444M-
$441M$49M
$436M$152M
$432M$137M
$427M$111M
$427M$70M
$425M-
$424M$347M
$410M$35M
$410M$82M
$403M$67M
$402M-
$400M-
$381M-
$375M-
$372M-
$368M$50M
$365M$85M
$360M-
$356M$238M
$355M-
$353M$592M
$350M$88M
$348M$218M
$346M$128M
$346M$497M
$342M$353M
$328M-
$325M$331M
$320M$23M
$318M-
$317M-
$314M-
$312M-
$306M-
$292M-
$290M$102M
$283M-
$281M$31M
$278M-
$275M-
$273M-
$272M-
$266M-
$266M-
$264M-
$263M$946M
$258M-
$255M$720M
$252M-
$252M-
$250M$519M
$249M$38M
$244M-
$243M-
$241M-
$233M$40M
$232M-
$232M$67M
$231M-
$230M$132M
$229M-
$226M-
$217M-
$215M-
$214M-
$211M-
$211M-
$210M$105M
$210M-
$209M-
$208M$155M
$200M-
$190M-
$189M$43M
$189M-
$188M-
$186M$45M
$183M$258M
$182M-
$181M-
$179M$59M
$176M-
$166M$324M
$164M-
$163M$389M
$161M-
$159M$95M
$159M-
$157M$18M
$157M-
$157M-
$156M-
$154M-
$152M-
$151M-
$150M$84M
$150M-
$147M$200M
$146M$207M
$138M-
$137M$66M
$136M-
$135M-
$135M-
$134M$33M
$132M-
$131M-
$131M-
$128M-
$128M-
$127M-
$127M$306M
$126M$206M
$125M$33M
$125M-
$123M-
$122M$41M
$120M-
$119M-
$118M$53M
$117M-
$117M-
$115M-
$115M-
$115M-
$115M-
$112M-
$109M-
$108M$52M
$108M-
$108M-
$108M-
$105M-
$104M-
$103M-
$102M-
$101M-
$101M$82M
$98M-
$96M-
$94M-
$94M-
$93M-
$93M$4.1B
$92M$158M
$89M-
$87M-
$86M-
$86M-
$85M$22M
$83M$122M
$81M-
$79M-
$78M-
$77M-
$77M-
$75M-
$75M-
$75M$27M
$75M-
$72M-
$71M-
$67M-
$66M$102M
$66M-
$63M-
$62M$86M
$62M-
$62M-
$59M-
$59M$4M
$58M$219M
$58M-
$56M-
$56M-
$56M-
$51M-
$51M-
$50M-
$49M-
$49M-
$48M-
$48M-
$48M-
$48M-
$47M$55M
$47M-
$47M-
$46M-
$46M-
$43M-
$43M-
$42M-
$42M-
$41M-
$41M-
$41M-
$41M-
$39M-
$39M$33M
$39M$9M
$39M-
$38M-
$37M-
$37M-
$37M-
$37M-
$36M-
$35M-
$34M-
$33M-
$32M-
$32M-
$31M-
$31M$24M
$29M-
$29M-
$29M-
$28M-
$28M$11M
$27M$11M
$26M-
$26M-
$25M-
$25M-
$25M$8M
$25M-
$24M-
$24M-
$24M-
$24M-
$24M-
$24M$56M
$23M-
$23M$1M
$22M-
$22M$121M
$22M-
$22M-
$22M$52M
$22M-
$21M-
$20M-
$20M-
$20M-
$20M-
$19M-
$19M-
$19M-
$18M-
$17M-
$17M-
$17M-
$16M-
$16M-
$15M-
$14M-
$14M-
$14M-
$13M$15M
$13M-
$12M-
$12M-
$11M-
$11M-
$11M$24M
$11M-
$10M-
$10M$23M
$10M-
$9M-
$9M-
$9M-
$9M$11M
$8M-
$8M-
$8M-
$8M-
$8M-
$7M-
$7M-
$7M$24M
$7M-
$6M-
$6M-
$6M-
$6M-
$5M-
$5M-
$5M$6M
$5M-
$5M-
$5M-
$4M-
$4M-
$4M-
$3M-
$3M-
$3M-
$3M-
$3M-
$3M-
$3M-
$2M-
$2M-
$2M-
$2M-
$1M-
$1M-
$1M-
$1M-
$1M-
$1M-
$1M-
$862K-
$640K-
$459K-
$172K-
$155K-
$113K-
$95K-
$22K-
$20K-
$8K-
--
-$1.1B

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