EBITDA Multiples by Sector in France: 2025 SME Valuation Guide
EBITDA multiples vary enormously across sectors a pharmacy in France trades at 8–12× EBITDA while a restaurant may trade at 2–4×. This 2025 guide provides a comprehensive sector-by-sector multiple reference for French SMEs, explains how EBITDA must be normalized before any multiple is applied (including the critical manager salary reintegration), compares what private equity and strategic acquirers typically pay, and identifies the business characteristics that command premium multiples versus those that trigger discounts.
# EBITDA Multiples by Sector in France: 2025 SME Valuation Guide When buying or selling a business in France, every conversation comes back to the same question: what is this worth? For SME deals, the answer almost always starts with EBITDA, sometimes expressed as EBE in French practice, and a sector multiple applied on top. But the multiple is not a fixed number, and treating it like one is the surest way to end a process feeling cheated. A pharmacy with EUR 500k of normalised EBITDA can sell for EUR 5m. A neighbourhood restaurant on the same earnings will struggle to clear EUR 1.5m. A B2B Sa…