Multiples Classifieds Index

Curated by Multiples, this index tracks publicly listed classifieds platforms globally.

Explore the Multiples Classifieds Index

public companies
tracked

$171B

cumulative
enterprise value

2.7x

median EV/NTM revenue multiple

median NTM/LTM revenue growth

Jump to Section

Index Performance

This chart shows the weighted market cap evolution over time for the Multiples Classifieds Index constituents, indexed to 0% at the beginning of the period.

+0.0%

Multiples Classifieds Index

Data as of 01 April 2026. Underlying financial data from FactSet and Morningstar. S&P 500 and NASDAQ data sourced from Yahoo Finance.

Key Index Metrics

This chart shows the median evolution over time of key valuation metrics for the Multiples Classifieds Index constituents.

Valuation Benchmarks

This chart shows the regression relationship between valuation metrics across companies in the Multiples Classifieds Index.

x-axis:

y-axis:

Data as of April 1, 2026. Companies with EV multiples above 50x and y-axis values above 250% are considered non-meaningful and excluded from calculation.

Company Rankings

This chart shows company rankings by selected metric within the Multiples Classifieds Index.

Metric:

Data as of April 1, 2026. Companies with EV multiples above 50x and y-axis values above 300% are considered non-meaningful and excluded from calculation.

Companies Side-by-Side

Compare key metrics between companies in the Multiples Classifieds Index.

Metric	Recruit Holdings	Naspers	REA Group
Market Cap	$58B	$39B	$15B
EV/Revenue (NTM)	2.3x	2.7x	11.0x
EV/Gross Profit (NTM)	3.7x	6.7x	18.2x
EV/EBITDA (NTM)	10.6x	26.4x	18.4x
EV/FCF (NTM)	14.9x	21.5x	30.6x
Revenue Growth	6%	23%	11%
Gross Margin (NTM)	60%	41%	61%
EBITDA Margin (NTM)	21%	10%	60%
FCF Margin (NTM)	15%	13%	36%
Rule of 40	27%	37%	62%
Rule of X	35%	77%	64%

Data as of April 1, 2026.

Cumulative Metrics

This chart shows the cumulative sum of selected metrics across all companies in the Multiples Classifieds Index, over time.

Index Methodology

Similar to the NASDAQ 100 Index, the Multiples Classifieds Index employs a modified market capitalization weighting scheme.

The weight process uses company-level weights, which are derived using company market capitalization.

Company weights are evaluated based on two rules:

Rule 1

No company's weight may exceed 24%.

Rule 2

The aggregate weight of the companies whose weights exceed 4.5% may not exceed 48%.

If neither rule is 'violated', then no adjustments are made. Only in cases where either or both of the rules are 'violated', weight adjustments are made according to a two-stage adjustment process.

Rule 1 adjustment

If no company's initial weight exceeds 24% of the Index, initial weights are used as Rule 1 weights without adjustment. Otherwise, initial weights are adjusted such that no company's weight may exceed 20% of the Index.

Rule 2 adjustment

If the aggregate weight of the companies whose Rule 1 weights exceeds 4.5% and does not exceed 48%, Rule 1 weights are used as the final weights. Otherwise, Rule 1 weights are adjusted such that:

The aggregate weight of the companies whose Rule 1 weights exceeded 4.5% is set to 40%.
Companies with Rule 1 weights below 4.5% may also have their weights adjusted to keep the initial rank order of all companies.

If the two-stage rule process results in a 'violation' of the weighting rules as previously detailed, then the process is repeated until the company weights meet the rule system.

Companies Included in the Multiples Classifieds Index

This index tracks online classifieds platforms and digital listing marketplaces.


Recruit Holdings	5.1%	$42	-16%	$58B	2.3x	6%	60%	21%	15%	27%	$485K
Naspers	5.1%	$50	-14%	$39B	2.7x	23%	41%	10%	13%	37%	$267K
REA Group	3.8%	$114	-36%	$15B	11.0x	11%	61%	60%	36%	62%	$386K
News Corp	3.5%	$25	-13%	$14B	1.7x	3%	21%	19%	9%	21%	$379K
Info Edge	3.6%	$11	-28%	$7B	18.5x	13%	74%	41%	36%	52%	$52K
carsales.com	5.4%	$17	-26%	$7B	7.9x	12%	56%	56%	33%	65%	$324K
Scout24	4.2%	$81	-33%	$6B	6.3x	13%	100%	60%	37%	77%	$719K
Vend Marketplaces	4.0%	$25	+46%	$5B	7.5x	3%	82%	41%	35%	46%	$179K
Autotrader Group	3.8%	$6	-44%	$5B	6.0x	5%	—	67%	50%	73%	$640K
Rightmove	4.4%	$6	-41%	$4B	7.1x	7%	—	68%	48%	77%	$650K
Seek	3.9%	$11	-27%	$4B	5.3x	12%	46%	46%	21%	56%	$228K
TX Group	4.1%	$199	-16%	$2B	1.9x	-6%	—	28%	18%	23%	$333K
Visional	3.6%	$46	-15%	$2B	2.0x	17%	90%	27%	14%	52%	—
Alma Media	4.1%	$16	+19%	$1B	3.7x	2%	90%	32%	22%	35%	$216K
Hemnet	4.7%	$12	-66%	$1B	6.4x	5%	87%	50%	38%	59%	$1M
Baltic Classifieds Group	4.7%	$2	-47%	$1B	9.7x	11%	—	76%	67%	87%	$584K
CarTrade Tech	3.8%	$19	+2%	$902M	8.2x	21%	88%	36%	28%	57%	$65K
Grupa Pracuj	5.3%	$11	-31%	$775M	3.2x	9%	—	45%	35%	54%	$196K
DIP	4.5%	$13	-3%	$662M	1.5x	5%	89%	27%	13%	30%	$209K
Just Dial Ltd	3.5%	$6	-40%	$519M	(0.5x)	7%	41%	29%	26%	36%	$10K
Wirtualna Polska	3.2%	$16	-36%	$463M	1.2x	-1%	—	24%	4%	39%	$341K
GA Technologies	2.9%	$10	+25%	$420M	0.2x	25%	17%	5%	2%	35%	$8M
ZIGExN	1.8%	$3	-4%	$265M	1.2x	6%	81%	27%	16%	34%	$323K
Cian	1.6%	$3	—	$238M	—	—	—	—	—	—	$125K
Lifull	1.2%	$1	+42%	$173M	—	—	—	—	—	—	$143K
Rakumachi	0.9%	$6	+10%	$125M	—	—	—	—	—	—	$265K
Saramin	0.7%	$9	-12%	$99M	—	—	—	—	—	—	—
Vocento	0.6%	$1	-2%	$95M	0.4x	-2%	—	7%	—	8%	$133K
North Media	0.5%	$8	+38%	$77M	—	—	—	—	—	—	$325K
Frontier Digital Ventures	0.5%	$0	-20%	$75M	1.8x	-2%	—	21%	12%	12%	—
Jimoty	0.3%	$5	-15%	$45M	2.7x	7%	—	—	—	—	$86K
Rent.com.au	0.3%	$0	+180%	$37M	—	—	—	—	—	—	$746K
Gumtree Australia	0.2%	$0	+15%	$27M	—	—	—	—	—	—	—
RMA Global	0.2%	$0	+50%	$24M	1.0x	32%	—	10%	—	35%	$189K
Token Cat	0.2%	$11	-6%	$22M	—	—	—	—	—	—	$22K