One source, of course, is the BDO Private Company Price Index (PCPI). Q1 results for the PCPI were just released and are available now from BDO. The results suggest that PE valuations were staying strong while trade multiples dropped compared to the prior year. Roger Buckley, the BDO partner (Birmingham) who manages the PCPI, comments on the ‘very creditable performance’ despite the environment—indeed, since BDO’s average EV/EBITDA multiples came out to 9.8x for trade buyers and 12.0x for PE—and that’s against historic EBITDA. Many UK valuation professionals struggle to use these PCPI investment multiples in their fiscal or contentious work. BVWire—UK offers a two-question survey on this topic: What sources do you use for valuation multiples in your business valuations? Please take a minute to add your thoughts, and we’ll report on the results in our next fortnightly issue.