French SME valuation simulator
Get an indicative value range for an established French company in 2 minutes: restated EBITDA, 2026 sector multiples, equity value after net debt. Free, no sign-up.
Restated EBITDA multiples by sector (2026 benchmarks)
Manager remuneration restatement built in
Automatic bridge from enterprise value to equity value
How the simulator builds your range
The simulator applies the most widely used method on French SME transactions: the restated EBITDA multiple, corrected for net debt. Three inputs drive the result.
1. Restated EBITDA
The starting point is not accounting EBITDA but restated EBITDA: manager remuneration is reset to its market replacement cost and non-recurring items are neutralised.
- Manager pay at market replacement cost
- Exceptional income and costs neutralised
- Base: last closed financial year, crossed with the 3-year average
2. The sector multiple
Each business profile has its observed 2026 multiple range: from 2.5 to 4.5 times EBITDA for restaurants and local retail, up to 8 to 15 times for SaaS.
- Traditional and service SMEs: 4 to 7x
- Pharmacies, hotels: 6 to 9x
- Indicative discounts: owner dependence, client concentration
3. Net debt
Enterprise value is not the share price: financial debt is deducted and excess cash added to reach the indicative value of the shares.
- Financial debt deducted
- Excess cash added
- Result: low and high equity value range
Before taking the result at face value
The range is a starting point. It is only as reliable as your inputs:
- Use the EBITDA of the last closed year, not an optimistic budget
- Count manager remuneration at full employer cost
- Neutralise one-off events (litigation, one-time subsidy, asset sale)
- Include shareholder current accounts in the debt analysis
- Always cross-check with a second method before any negotiation
The firm's view
On the SME sales we support, the gap between the hoped-for price and the signed price rarely comes from the multiple: it comes from restated EBITDA and net debt. An EBITDA overstated by EUR 50,000 at a 5x multiple moves the negotiation by EUR 250,000. That is why the simulator forces you through the remuneration restatement and net debt before displaying a range.
Frequently asked questions
How reliable is the simulator result?
It is an indicative range built on the multiples observed by sector in 2026. It gives a realistic order of magnitude, but a defensible valuation crosses several methods (multiples, DCF, net assets), applies documented discounts and relies on line-by-line restated accounts. For a sale, a bank or litigation, a signed report remains essential.
How is this different from the startup valuation simulator?
This simulator is for established, profitable companies valued on restated EBITDA. A pre-profitability startup is valued differently (DCF, revenue comparables, VC methods): use the dedicated startup valuation simulator.
Why restate manager remuneration?
An underpaid manager artificially inflates EBITDA, an overpaid one understates it. Buyers always reason at market replacement cost: the restatement aligns reported profitability with the transferable reality.
How do you value a fonds de commerce?
For a trading business, the EBITDA multiple range is crossed with the professional scale as a percentage of turnover (for instance 50 to 105% of inclusive-tax turnover for a traditional restaurant). Our sector-by-sector scales give the 2026 ranges.
References
2026 benchmark multiples and scales, kept in step with the valuation corpus of this site.
Go further
Need a defensible value?
A valuation report signed by a chartered accountant who is also a statutory auditor registered on the H2A list: crossed methods, documented discounts, defensible before a bank, a buyer or the tax authority. Value opinion from EUR 800 excl. VAT, full report from EUR 2,500 excl. VAT.