Thanks with the query, and delighted to provide some clarity in this article. The multiples are based on Evaluation of community companies, globally, by Professor Aswath Damodaran of NYU Stern. You are pretty appropriate that a community company EBITDA multiple can not be applied as a single Answer for valuation https://alexismnfvl.blogoscience.com/37030614/not-known-details-about-multisite-brokerage-services