Explore private-market valuation multiples for North America, with benchmarks structured by sector and stage. Updated quarterly.
North America is the deepest and most liquid private-capital market in the world and the global reference point for venture- and growth-stage valuations. Multiples here typically sit at the top of the range across sectors and stages.
Abundant late-stage capital, a mature exit environment and a large pool of specialist investors support premium pricing — which is why North American benchmarks anchor cross-border comparisons and set the ceiling other regions are measured against.
Indicative range as of 31 March 2025 · median across sectors
DealMatrix multiples are derived from institutional-grade public-market index data covering ~150 GICS sub-industries across 6 regions, with quarterly history back to 2000. Index data is licensed from leading market-data providers — in line with licensing terms we publish derived multiples, not raw vendor data. The methodology follows the IPEV Guidelines 2025. Published benchmarks are illustrative and dated; because IPEV 2025 prohibits static multiples for reporting periods from 1 April 2026, current quarterly data for valuation work is available on the platform.
DealMatrix multiples are proprietary private-market benchmarks, derived through a six-step model that translates public capital-market index comparables into private-market segments and funding stages, adjusted for macroeconomic conditions.
The model produces three components: The reported public multiple, the model-predicted multiple, and the lower bound predicted multiple averaged into the DealMatrix Composite, then adjusted for region and funding stage. The methodology follows the IPEV Guidelines 2025.
Valuation multiples vary widely by region. Compare North America with the other major markets to see how capital depth, exit conditions and risk shape private-company pricing.
What is the average valuation multiple for North America companies?
As of 31 March 2025, the North America sector benchmark was an EV/Sales multiple of about 3.6× and an EV/EBITDA multiple of about 14.6× (median across six regions). Multiples vary by funding stage and region; stage-level and current-quarter figures are available in DealMatrix.
What is the difference between EV/Sales and EV/EBITDA for North America?
EV/Sales (enterprise value ÷ revenue) is used for high-growth North America companies that are not yet profitable, while EV/EBITDA (enterprise value ÷ operating profit) applies to mature, profitable ones. Early-stage companies are usually benchmarked on EV/Sales.
How are North America valuation multiples calculated?
Each North America multiple is a weighted blend of public-market index comparables, cleaned for outliers and gaps, then adjusted for macroeconomic conditions, region, and funding stage through a six-step model that follows the IPEV Guidelines 2025.
Do North America valuation multiples vary by region?
Yes. North America serves as the reference market and typically carries the highest multiples, while emerging markets trade at a structural discount. Region-specific figures are available in the DealMatrix platform.
How current is this North America data and how often is it updated?
The benchmark shown is an illustrative annual figure as of 31 March 2025. The underlying model is updated every quarter. Because the IPEV Guidelines 2025 prohibit static multiples for reporting periods from 1 April 2026, current quarterly data for valuations is available in the DealMatrix platform.
