What Idonis calculates
- A method suited to the type of company: earnings and assets for an operating company, net assets for a holding or management company, assets for a real-estate company. Banks and insurers are not valued.
- Several methods side by side: book and adjusted net assets, capitalised earnings value, the practitioners' method, goodwill rent, EBITDA multiple and, for professional firms and pharmacies, revenue multiple.
- A low, central and high value, a liquidation floor and, separately, the book price of the operating assets, for an asset deal rather than a share deal.
- The bridge from enterprise value to equity value: net financial debt, provisions and non-operating assets, reconciled with the filed balance sheet.
- Market multiples: the Idonis benchmark by sector, built from published studies of SME transactions and adjusted for the size of the company.
Your assumptions, recalculated as you go
On the company page, change the EBITDA used, the multiple, the capitalisation rate, the share of equity valued, the stock discount, the property revaluation or the weight of the reference method: the value is recalculated at once. The Idonis estimate and your scenario sit in two columns, with the gap between them. Your scenario stays saved in your account.
Every figure with its formula: check the calculation yourself
Every amount is linked to the filing it comes from, and every estimate is labelled as one. The Excel export contains the accounts, with the ratio formulas, then the valuation and your scenario next to the Idonis estimate. The cost of capital (WACC, sector beta) is shown separately, with how it is calculated.
Holding companies
A holding company is valued on its own: its shareholdings stay at book value, and the page says so. You can open the page of each Belgian subsidiary to see its valuation.
A basis to prepare the file
The Idonis valuation is a first value, built from the published accounts: it prepares the file you will discuss with your adviser or your bank. Available with the Pro plan, and during the free 14-day trial, no card required.
To find companies to value: find a company to acquire.