Food & Beverage 2Q 2023 Report
While the M&A environment remains challenging for companies across ...
FOCUS Telecom U.S. Communications Service Provider Quarterly: Summer 2023 Report
The FOCUS Communications Service Provider Index (CSPI) snapped its streak of positive returns as the sector dropped 3.6% in our summer reporting period. This was despite a strong overall market backdrop that propelled the S&P 500 up 8.3% and the NASDAQ up 12.8% over the corresponding time period. The CSPI also compares unfavorably to the broader indices over the full year time frame. The sector is down 18.7% compared to this time last year, while the S&P 500 and NASDAQ are up 17.6% and 25.0%, respectively. Multiples ended the period at 2.3x revenue (down from 2.5x a year ago) and 6.4x EBITDA (down from 6.8x a year ago).
FOCUS Telecom Business Services Quarterly: Summer 2023 Report
While its momentum slowed somewhat from our Spring report, the FOCUS Telecom Business Services Index (TBSI) still delivered a positive return with a three-month gain of 2.9%. This lagged the returns of the broader indices as the S&P 500 gained 8.3% and the NASDAQ gained 12.8% over the corresponding time period. Sector multiples are also higher compared to the year-ago period. The sector revenue multiple went from 0.9x to 1.0x, while the sector EBITDA multiple increased from 9.9x to 11.4x.
FOCUS Carrier-Focused Telecom Technology Quarterly: Summer 2023 Report
The FOCUS Carrier-Focused Telecom Technology Index (CFTTI) continued to trend lower with a 2.2% drop in our summer reporting period.
FOCUS Enterprise-Focused Telecom Technology Quarterly: Spring 2023 Report
Public Markets After suffering a decline in our winter report, ...
M&A Ophthalmology Deals Continue Into 2023 with Small And Mid-Size Transactions
The first quarter of 2023 delivered ten reported ophthalmology practice acquisitions, which aligns with seasonal acquisition trends (Q1 of 2022 reported eleven deals).
Business Services 1Q 2023 M&A Report
Inflation, rising interest rates and global economic uncertainty are the main themes for 2023 so far. Yet M&A deal activity in the middle market remains fairly steady as investors have plenty of capital to invest and continue to concentrate on quality assets.
Automotive Aftermarket 1Q 2023 Report
The Q1 Automotive Aftermarket report provides commentary by sector within ...
Food & Beverage 1Q 2023 Report
The 1Q 2023 report explores current market trends and themes within the industry, including insights on deal activity, valuation multiples, and notable transactions.
FOCUS Telecom U.S. Communications Service Provider Quarterly: Spring 2023 Report
The FOCUS Communications Service Provider Index (CSPI) managed a second straight reporting period in positive territory as it posted a three-month gain of 2.7%. While this was certainly a respectable gain, it still significantly underperformed both the 7.0% gain in the S&P 500 and the 16.8% increase in the NASDAQ over the corresponding time frame. Sector multiples were down somewhat and ended the period at 2.4x revenue and 6.4x EBITDA. This compares to sector multiples of 2.6x revenue and 7.4x EBITDA for the year-ago period.