Publicly traded quick service restaurants had a mean multiple of 16.5x (enterprise value as a multiple of EBITDA) in 2018 and are estimated to achieve a multiple of 16.8x in 2019, according to the “Restaurant Quarterly Update—Spring 2019” from Duff & Phelps. The report examines other restaurant types and analyzes same store sales (SSS) and M&A activity. March 2019 SSS increased by 1.2%, while comparable traffic fell by 1.8%. Average guest checks were up 3.1% in February, helping to mitigate the drop in traffic. The 2018 annual growth of 0.7% represented the strongest sales growth rates for restaurants in the past three years, the report says.
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