Valuation Range
The valuation range is the low, mid and high enterprise value for a sub-segment and a size class. It is indicative.
The band starts with Damodaran's listed-company multiple for the sector. A DACH discount we derive ourselves is applied, then the company's size class scales the result. Low and high are the edges of that band; mid is the midpoint. None of the three is a statistical confidence limit.
Three levers then move a given company inside the band: the EBITDA trend, how far the business depends on its owner, and how much of the revenue recurs. They combine by multiplication and are capped, together, at plus or minus 35 percent. How wide the band is comes from how widely the discount observations spread, not from a flat 20 to 30 percent haircut.