{"id":2609,"date":"2025-11-09T18:27:07","date_gmt":"2025-11-09T09:27:07","guid":{"rendered":"https:\/\/mitsukijapan.com\/ma\/?post_type=column&p=2609"},"modified":"2025-11-09T18:28:00","modified_gmt":"2025-11-09T09:28:00","slug":"what-is-ev-ebitda-multiple","status":"publish","type":"column","link":"https:\/\/mitsukijapan.com\/ma\/column\/what-is-ev-ebitda-multiple\/","title":{"rendered":"EV\/EBITDA\u500d\u7387\u3068\u306f\uff1f\u8a08\u7b97\u65b9\u6cd5\u30fb\u696d\u754c\u5e73\u5747\u30fb\u5272\u9ad8\u5272\u5b89\u306e\u76ee\u5b89"},"content":{"rendered":"\n

EV\/EBITDA\u500d\u7387\u3068\u306f\u3001EV\uff08\u4e8b\u696d\u4fa1\u5024\uff09\u304cEBITDA\uff08\u511f\u5374\u524d\u55b6\u696d\u5229\u76ca\uff09\u306e\u4f55\u500d\u306b\u306a\u3063\u3066\u3044\u308b\u304b\u3092\u8868\u3059\u6307\u6a19\u3067\u3059\u3002\u672c\u8a18\u4e8b\u3067\u306f\u3001\u4e3b\u306bM&A\u306b\u304a\u3051\u308b\u4f01\u696d\u4fa1\u5024\u7b97\u5b9a\u306e\u5834\u9762\u3067\u591a\u304f\u7528\u3044\u3089\u308c\u308b\u6307\u6a19\u3067\u3042\u308bEBITDA\u30de\u30eb\u30c1\u30d7\u30eb\u306e\u610f\u5473\u3001\u8a08\u7b97\u65b9\u6cd5\u3001\u500d\u7387\u306e\u5e73\u5747\u5024\u3084\u76ee\u5b89\u306b\u3064\u3044\u3066\u89e3\u8aac\u3057\u307e\u3059\u3002<\/p>\n\n\n\n

\n
\n
\"\"<\/a><\/figure>\n<\/div>\n\n\n\n
\n
\"\"<\/a><\/figure>\n<\/div>\n<\/div>\n\n\n
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\u76ee\u6b21<\/div>\n\t\t
  1. EV\/EBITDA\u500d\u7387\u3068\u306f<\/a>
    1. EV\/EBITDA\u500d\u7387\u306e\u8a08\u7b97\u5f0f<\/a><\/li>
    2. EV\/EBITDA\u500d\u7387\u6cd5\uff08EBITDA\u30de\u30eb\u30c1\u30d7\u30eb\u6cd5\uff09\u3068\u306f<\/a><\/li>
    3. EV\/EBITDA\u500d\u7387\u3092\u7528\u3044\u305f\u8a08\u7b97\u4f8b<\/a><\/li>
    4. EV\u306f\u300c\u4e8b\u696d\u4fa1\u5024\u300d\u304b\u300c\u4f01\u696d\u4fa1\u5024\u300d\u304b\uff1f<\/a><\/li><\/ol><\/li>
    5. EV\/EBITDA\u500d\u7387\uff08\u30de\u30eb\u30c1\u30d7\u30eb\uff09\u306e\u696d\u7a2e\u5225\u306e\u5e73\u5747\u30fb\u5272\u5b89\u306e\u76ee\u5b89<\/a>
      1. \u4e2d\u5c0f\u4f01\u696d\u306b\u304a\u3051\u308bEV\/EBITDA\u500d\u7387\u306e\u76ee\u5b89<\/a><\/li>
      2. \u4e0a\u5834\u4f1a\u793e\u306b\u304a\u3051\u308bEV\/EBITDA\u500d\u7387\u306e\u696d\u754c\u5e73\u5747<\/a><\/li>
      3. EV\/EBITDA\u500d\u7387\uff08\u30de\u30eb\u30c1\u30d7\u30eb\uff09\u306e\u6539\u5584\u7b56<\/a><\/li><\/ol><\/li>
      4. \u3088\u304f\u3042\u308b\u3054\u8cea\u554f\uff5cEV\/EBITDA\u500d\u7387\u306b\u95a2\u3059\u308bFAQ<\/a><\/li>
      5. EV\/EBITDA\u500d\u7387\uff08\u30de\u30eb\u30c1\u30d7\u30eb\uff09\u306e\u307e\u3068\u3081<\/a><\/li><\/ol><\/li><\/ol>\n\t<\/div>\n\n\n

        \u300c\u3046\u3061\u306e\u4f1a\u793e\u3067\u3082\u58f2\u5374\u3067\u304d\u308b\u3060\u308d\u3046\u304b\u2026\u300d\u3001\u300c\u4f55\u304b\u3089\u59cb\u3081\u308c\u3070\u3044\u3044\u3093\u3060\u308d\u3046\u2026\u300d\u3002\u305d\u306e\u3088\u3046\u306a\u30aa\u30fc\u30ca\u30fc\u7d4c\u55b6\u8005\u306e\u4e0d\u5b89\u306b\u3001\u4e2d\u5c0f\u4f01\u696d\u5411\u3051M&A\u4ef2\u4ecb\u4f1a\u793e\u307f\u3064\u304d\u30b3\u30f3\u30b5\u30eb\u30c6\u30a3\u30f3\u30b0\u306f\u300120\u5e74\u9593\u30fb500\u4ef6\u4ee5\u4e0a\u306e\u652f\u63f4\u5b9f\u7e3e\u306b\u57fa\u3065\u304d\u3001\u304a\u5fdc\u3048\u3057\u307e\u3059\u3002\u672c\u683c\u691c\u8a0e\u524d\u306e\u60c5\u5831\u53ce\u96c6\u3068\u3057\u3066\u3001\u307e\u305a\u306f\u304a\u8a71\u3092\u304a\u805e\u304b\u305b\u304f\u3060\u3055\u3044\u3002<\/p>\n\n\n\n

        \uff1e \u307f\u3064\u304d\u30b3\u30f3\u30b5\u30eb\u30c6\u30a3\u30f3\u30b0\u306b\u7121\u6599\u76f8\u8ac7\u3059\u308b\uff5c\u7a0e\u7406\u58eb\u6cd5\u4eba\u30b0\u30eb\u30fc\u30d7<\/a><\/p>\n\n\n\n

        EV\/EBITDA\u500d\u7387\u3068\u306f<\/strong><\/h2>\n\n\n\n

        EV\/EBITDA\u500d\u7387\uff08<\/strong>EBITDA\u30de\u30eb\u30c1\u30d7\u30eb\uff09\u306f\u3001EV\u304cEBITDA\u306e\u4f55\u500d\u306b\u306a\u3063\u3066\u3044\u308b\u304b\u3092\u8868\u3059\u6307\u6a19\u3067\u3059\u3002M&A\u306e\u8b72\u53d7\u4f01\u696d\u5074\u304b\u3089\u3059\u308b\u3068\u3001\u8a55\u4fa1\u5bfe\u8c61\u4f1a\u793e\u3092\u8cb7\u53ce\u3059\u308b\u306e\u306b\u5fc5\u8981\u306a\u8cc7\u91d1\uff08EV\uff09\u304c\u3001\u305d\u306e\u4f01\u696d\u304c\u751f\u307f\u51fa\u3059\u53ce\u76ca\u306e\u6982\u7b97\u984d\uff08EBITDA\uff09\u306e\u4f55\u5e74\u5206\u306b\u76f8\u5f53\u3059\u308b\u304b\u3092\u8868\u3057\u3066\u3044\u307e\u3059\u3002\u300c\u7c21\u6613\u8cb7\u53ce\u500d\u7387\u300d\u3068\u3082\u8a00\u308f\u308c\u3001\u4f01\u696d\u306e\u8cb7\u53ce\u984d\u304c\u59a5\u5f53\u304b\u3069\u3046\u304b\u3092\u5224\u65ad\u3059\u308b\u969b\u3084\u4e16\u754c\u7684\u306b\u6d3b\u52d5\u3059\u308b\u4f01\u696d\u540c\u58eb\u306e\u682a\u4fa1\u3092\u6bd4\u8f03\u3059\u308b\u969b\u306e\u5c3a\u5ea6\u3068\u3057\u3066\u5229\u7528\u3055\u308c\u307e\u3059\u3002<\/p>\n\n\n\n

        EV\u306e\u8aad\u307f\u65b9\u306f\u300c\u30a4\u30fc\u30d6\u30a4\u300d\u3001EBITDA\u306e\u8aad\u307f\u65b9\u306f\u300c\u30a4\u30fc\u30d3\u30c3\u30c8\u30c7\u30a3\u30fc\u30a8\u30fc\u3001\u307e\u305f\u306f\u30a4\u30fc\u30d3\u30c3\u30c0\u30fc\u300d\u3067\u3059\u3002EBITDA\u30de\u30eb\u30c1\u30d7\u30eb\u3001\u307e\u305f\u306f\u5358\u306b\u30de\u30eb\u30c1\u30d7\u30eb\uff08multiple\uff09\u3068\u8a00\u3046\u3053\u3068\u3082\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n

        \u25b7\u95a2\u9023\uff1aEBITDA\u3068\u306f\uff1f\u610f\u5473\u30fb\u8aad\u307f\u65b9\u30fbM&A\u3067\u306e\u8a08\u7b97\u30fb\u55b6\u696d\u5229\u76ca\u3068\u306e\u9055\u3044<\/a><\/p>\n\n\n\n

        EV\/EBITDA\u500d\u7387<\/strong>\u306e\u8a08\u7b97\u5f0f<\/h3>\n\n\n\n

        EBITDA\u30de\u30eb\u30c1\u30d7\u30eb\u306e\u8a08\u7b97\u5f0f\u306f\u3001\u4ee5\u4e0b\u306e\u3068\u304a\u308a\u3067\u3059\u3002<\/p>\n\n\n\n

        \"\"<\/figure>\n\n\n\n

        \u4f8b\u3048\u3070\u3001EV\/EBITDA\u500d\u7387\u304c4.5\u3067\u3042\u308c\u3070\u3001\u305d\u306e\u4f01\u696d\u3078\u306e\u6295\u8cc7\u8cc7\u91d1\u306f\u304a\u304a\u3088\u305d4\u5e74\u534a\u3067\u56de\u53ce\u3067\u304d\u308b\u3068\u3044\u3046\u3053\u3068\u304c\u308f\u304b\u308a\u307e\u3059\u3002EBITDA\u306f\u3001\u4f01\u696d\u306e\u53ce\u76ca\u529b\u3092\u8868\u3057\u3066\u304a\u308a\u3001\u4e8b\u696d\u4fa1\u5024\u304c\u9ad8\u3044\u4f01\u696d\u306e\u53ce\u76ca\u529b\u304c\u4f4e\u3044\u5834\u5408\u306b\u306f\u3001\u6295\u8cc7\u56de\u53ce\u306b\u6642\u9593\u304c\u304b\u304b\u308a\u307e\u3059\u3002\u4e00\u65b9\u3067\u3001\u4e8b\u696d\u4fa1\u5024\u304c\u4f4e\u3044\u4f01\u696d\u306e\u53ce\u76ca\u529b\u304c\u9ad8\u3044\u5834\u5408\u306b\u306f\u3001\u77ed\u671f\u9593\u3067\u6295\u8cc7\u56de\u53ce\u304c\u53ef\u80fd\u3068\u306a\u308a\u307e\u3059\u3002EV\/EBITDA\u500d\u7387\u306f\u3001\u6295\u8cc7\u5224\u65ad\u3092\u5bb9\u6613\u306b\u884c\u3048\u308b\u3068\u3044\u3046\u30e1\u30ea\u30c3\u30c8\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n

        \u25b7\u95a2\u9023\uff1a\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u3068\u306f\uff1f\uff5c\u4f01\u696d\u4fa1\u5024\u8a55\u4fa1\u306e\u8a08\u7b97\u65b9\u6cd5\u30fbM&A\u682a\u4fa1\u306e\u610f\u5473<\/a><\/p>\n\n\n\n

        EV\/EBITDA\u500d\u7387\u6cd5\uff08EBITDA\u30de\u30eb\u30c1\u30d7\u30eb\u6cd5\uff09\u3068\u306f<\/h3>\n\n\n\n

        EV\/EBITDA\u500d\u7387\u6cd5\uff08EBITDA\u30de\u30eb\u30c1\u30d7\u30eb\u6cd5\uff09\u306f\u3001M&A\u306e\u5b9f\u52d9\u306b\u304a\u3044\u3066\u3001\u4e8b\u696d\u4fa1\u5024\u3092\u7b97\u5b9a\u3059\u308b\u969b\u306b\u6700\u3082\u3088\u304f\u4f7f\u308f\u308c\u3066\u3044\u308b\u985e\u4f3c\u4f1a\u793e\u6bd4\u8f03\u6cd5\u306e\u4e00\u3064\u3067\u3059\u3002EV\u306f\u4e8b\u696d\u4fa1\u5024\uff08\u307e\u305f\u306f\u4f01\u696d\u4fa1\u5024\uff09\u3092\u8868\u3057\u3001EBITDA\u306f\u55b6\u696d\u5229\u76ca\u3068\u511f\u5374\u8cbb\u3092\u8db3\u3057\u3066\u7c21\u6613\u7684\u306b\u8a08\u7b97\u3067\u304d\u307e\u3059\u3002<\/p>\n\n\n

        \n
        \"EV\/EBITDA\u500d\u7387\u30fb\u4e57\u6570\u3092\u7528\u3044\u305f\u30de\u30eb\u30c1\u30d7\u30eb\u6cd5\u306b\u3088\u308b\u4f01\u696d\u4fa1\u5024\u306e\u8a08\u7b97\u65b9\u6cd5\"<\/figure>\n<\/div>\n\n\n

        \u3053\u306e\u624b\u6cd5\u3067\u306f\u3001\u8a55\u4fa1\u5bfe\u8c61\u4f1a\u793e\u4f3c\u305f\u4e0a\u5834\u4f01\u696d\u306eEV\/EBITDA\u500d\u7387\u306e\u5e73\u5747\u5024\u3084\u4e2d\u592e\u5024\u3092\u53c2\u8003\u306b\u3001\u8a55\u4fa1\u5bfe\u8c61\u4f1a\u793e\u306b\u9069\u3057\u305f\u500d\u7387\u3092\u691c\u8a0e\u3057\u307e\u3059\u3002\u305d\u3057\u3066\u3001\u305d\u306e\u500d\u7387\u3068\u8a55\u4fa1\u5bfe\u8c61\u4f1a\u793e\u306eEBITDA\u3092\u639b\u3051\u5408\u308f\u305b\u308b\u3053\u3068\u3067\u3001\u4f01\u696d\u306eEV\u3092\u7b97\u51fa\u3057\u3066\u3044\u304d\u307e\u3059\u3002<\/p>\n\n\n\n

        \u25b7\u95a2\u9023\uff1a\u985e\u4f3c\u4f1a\u793e\u6bd4\u8f03\u6cd5\u3068\u306f\uff1f EBITDA\u30de\u30eb\u30c1\u30d7\u30eb\u306b\u3088\u308b\u4f01\u696d\u4fa1\u5024\u306e\u8a08\u7b97\u5f0f<\/a><\/p>\n\n\n\n

        EV\/EBITDA\u500d\u7387\u3092\u7528\u3044\u305f\u8a08\u7b97<\/strong>\u4f8b<\/h3>\n\n\n\n

        EV\/EBITDA\u500d\u7387\u306f\u3001\u4e8b\u696d\u4fa1\u5024\u3092\u8a55\u4fa1\u3059\u308b\u969b\u306b\u7528\u3044\u3089\u308c\u308b\u6307\u6a19\u3067\u3042\u308a\u3001\u6c42\u3081\u65b9\u306f\u4ee5\u4e0b\u306e\u3068\u304a\u308a\u3067\u3059\u3002<\/p>\n\n\n\n

        EV\/EBITDA\u500d\u7387 = EV\uff3b\u682a\u5f0f\u4fa1\u5024+\u30cd\u30c3\u30c8\u30c7\u30c3\u30c8\uff08\u6709\u5229\u5b50\u8ca0\u50b5\u7b49\uff0d\u975e\u4e8b\u696d\u7528\u8cc7\u7523\uff09\uff3d\u00f7 EBITDA\uff08\u55b6\u696d\u5229\u76ca + \u6e1b\u4fa1\u511f\u5374\u8cbb\u7b49\uff09<\/p>\n\n\n\n

        \u4f8b\u3068\u3057\u3066\u3001A\u793e\u306e\u682a\u5f0f\u4fa1\u5024\u304c5\u5104\u5186\u3001\u6709\u5229\u5b50\u8ca0\u50b5\u7b49\u304c1\u5104\u5186\u3001\u975e\u4e8b\u696d\u7528\u8cc7\u7523\u304c4,000\u4e07\u5186\u3001\u55b6\u696d\u5229\u76ca\u304c6,000\u4e07\u5186\u3001\u6e1b\u4fa1\u511f\u5374\u8cbb\u7b49\u304c2,000\u4e07\u5186\u3067\u3042\u308b\u5834\u5408\u3092\u8003\u3048\u307e\u3059\u3002<\/p>\n\n\n\n

          \n
        1. \u3053\u306e\u30b1\u30fc\u30b9\u306b\u304a\u3051\u308bEV\u306f\u3001\u300cEV = 5\u5104\u5186 +1\u5104\u5186 – 4,000\u4e07\u5186 = 5\u51046,000\u4e07\u5186\u300d\u3068\u7b97\u51fa\u3055\u308c\u307e\u3059\u3002\u6b21\u306b\u3001EBITDA\u306f\u3001\u300cEBITDA = 6,000\u4e07\u5186 + 2,000\u4e07\u5186 = 8,000\u4e07\u5186\u300d\u3068\u306a\u308a\u307e\u3059\u3002<\/li>\n\n\n\n
        2. \u3053\u308c\u3089\u306e\u5024\u3092\u7528\u3044\u3066\u3001EV\/EBITDA\u500d\u7387\u3092\u8a08\u7b97\u3059\u308b\u3068\u3001\u300cEV\/EBITDA\u500d\u7387 = 5\u51046,000\u4e07\u5186 \u00f7 8,000\u4e07\u5186 = 7.0\u300d\u3068\u306a\u308a\u3001A\u793e\u306e\u8cb7\u53ce\u306b\u304b\u304b\u308b\u30b3\u30b9\u30c8\u304c7\u5e74\u3067\u56de\u53ce\u53ef\u80fd\u3067\u3042\u308b\u3053\u3068\u304c\u308f\u304b\u308a\u307e\u3059\u3002<\/li>\n<\/ol>\n\n\n\n

          \u25b7\u95a2\u9023\uff1a\u6e1b\u4fa1\u511f\u5374\u3068\u4f01\u696d\u4fa1\u5024\u8a55\u4fa1\uff5cDCF\u3084\u30de\u30eb\u30c1\u30d7\u30eb\u3078\u306e\u5f71\u97ff\u3068M&A<\/a><\/p>\n\n\n\n

          EV\u306f\u300c\u4e8b\u696d\u4fa1\u5024\u300d\u304b\u300c\u4f01\u696d\u4fa1\u5024\u300d\u304b\uff1f<\/h3>\n\n\n\n

          \u5c11\u3057\u5c02\u9580\u7684\u306a\u8a71\u3092\u3057\u307e\u3059\u3002<\/p>\n\n\n\n

          EV\/EBITDA\u500d\u7387\u306b\u304a\u3051\u308b\u300cEV\u300d\u306f\u3001\u300c\u4e8b\u696d\u4fa1\u5024\u300d\u3067\u3057\u3087\u3046\u304b\u3001\u305d\u308c\u3068\u3082\u300c\u4f01\u696d\u4fa1\u5024\u300d\u3067\u3057\u3087\u3046\u304b\u3002\u7406\u8ad6\u7684\u306b\u306fEBITDA\u304c\u300c\u4e8b\u696d\u53ca\u3073\u305d\u306e\u8cc7\u7523\u304b\u3089\u751f\u3058\u308b\u5229\u76ca\u300d\u3067\u3042\u308b\u3053\u3068\u3092\u304b\u3089\u3059\u308c\u3070\u3001\u300cEV\u300d\u306f\u300c\u4e8b\u696d\u4fa1\u5024\u300d\u3068\u8003\u3048\u308b\u306e\u304c\u9069\u5207\u3067\u3059\u3002\u300c\u4f01\u696d\u4fa1\u5024\u300d\u306b\u306f\u4e8b\u696d\u4ee5\u5916\u306e\u975e\u4e8b\u696d\u8cc7\u7523\u3082\u542b\u307e\u308c\u308b\u305f\u3081\u3001\u5404\u793e\u3067\u30d0\u30e9\u30c4\u30ad\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n

          \u300cEV\u300d\uff1d\u300c\u4e8b\u696d\u4fa1\u5024\u300d\u3068\u3059\u308b\u306e\u304c\u6b63\u3057\u3044\u306e\u3067\u3059\u304c\u3001\u306a\u304b\u306b\u306f\u3001\u300cEV\/EBITDA\u300d\uff1d\u300c\u4f01\u696d\u4fa1\u5024\/EBITDA\u300d\u3068\u3057\u3066\u4f7f\u7528\u3055\u308c\u308b\u3053\u3068\u3082\u3042\u308a\u307e\u3059\u306e\u3067\u3001\u6ce8\u610f\u304c\u5fc5\u8981\u3067\u3059\u3002\u300cEV\u300d\u3092\u300c\u4e8b\u696d\u4fa1\u5024\u300d\u3068\u3059\u308b\u5834\u5408\u306f\u3001\u305d\u308c\u304b\u3089\u30cd\u30c3\u30c8\u30c7\u30c3\u30c8\u3092\u5dee\u3057\u5f15\u3044\u3066\u300c\u682a\u4e3b\u4fa1\u5024\u300d\u3092\u5c0e\u304d\u51fa\u3057\u307e\u3059\u304c\u3001\u300cEV\u300d\u3092\u300c\u4f01\u696d\u4fa1\u5024\u300d\u3068\u3059\u308b\u5834\u5408\u306f\u3001\u305d\u308c\u304b\u3089\u6709\u5229\u5b50\u8ca0\u50b5\u7b49\u3060\u3051\u3092\u5dee\u3057\u5f15\u3044\u3066\u300c\u682a\u4e3b\u4fa1\u5024\u300d\u3092\u8a08\u7b97\u3057\u307e\u3059\u3002\u300cEV\u300d\u3092\u300c\u4f01\u696d\u4fa1\u5024\u300d\u3068\u3059\u308b\u5834\u5408\u306e\u30de\u30eb\u30c1\u30d7\u30eb\u306f\u3001\u4f01\u696d\u306e\u8cb7\u53ce\u306b\u5fc5\u8981\u306a\u6642\u4fa1\u7dcf\u984d\u3068\u3001\u8cb7\u53ce\u5f8c\u306e\u7d14\u6709\u5229\u5b50\u8ca0\u50b5\u306e\u8fd4\u6e08\u306b\u5fc5\u8981\u306a\u91d1\u984d\u3092\u3001EBITDA\u306e\u4f55\u5e74\u5206\u3067\u8cc4\u3048\u308b\u304b\u3092\u8868\u3059\u500d\u7387\u3068\u3044\u3046\u3053\u3068\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n

          \u25b7\u95a2\u9023\uff1a\u4f01\u696d\u4fa1\u5024\u3068\u306f\uff5cEV\u30fb\u4e8b\u696d\u4fa1\u5024\u30fb\u682a\u5f0f\u4fa1\u5024\u3068\u306e\u9055\u3044\u3001\uff13\u3064\u306e\u8a55\u4fa1\u65b9\u6cd5<\/a><\/p>\n\n\n\n

          EV\/EBITDA\u500d\u7387\uff08\u30de\u30eb\u30c1\u30d7\u30eb\uff09\u306e\u696d\u7a2e\u5225\u306e\u5e73\u5747\u30fb\u5272\u5b89\u306e\u76ee\u5b89<\/strong><\/h2>\n\n\n\n

          EV\/EBITDA\u500d\u7387\u306b\u304a\u3044\u3066\u3001\u3069\u306e\u7a0b\u5ea6\u306e\u5024\u304c\u5272\u5b89\u30fb\u5272\u9ad8\u3068\u5224\u65ad\u3067\u304d\u308b\u306e\u3067\u3057\u3087\u3046\u304b\u3002<\/p>\n\n\n

          \n
          \"EV\/EBITDA\u500d\u7387\u306e\u696d\u754c\u5e73\u5747\u30fb\u76ee\u5b89-\u4e0a\u5834\u4f1a\u793e\u30fb\u975e\u4e0a\u5834\u4f1a\u793e\u30fb\u4e2d\u624b\u4f01\u696d\u306e\u5e73\u5747\u3084\u5272\u9ad8\u30fb\u5272\u5b89\u306e\u76ee\u5b89\"<\/figure>\n<\/div>\n\n\n

          \u4ee5\u4e0b\u3067\u7d39\u4ecb\u3059\u308bEV\/EBITDA\u500d\u7387\u306e\u696d\u7a2e\u5225\u306e\u5e73\u5747\u5024\u306a\u3069\u306f\u3001\u5e02\u5834\u74b0\u5883\u3084\u696d\u754c\u52d5\u5411\u306a\u3069\u306b\u3088\u308a\u5909\u52d5\u3057\u307e\u3059\u306e\u3067\u3001\u3042\u304f\u307e\u3067\u3082\u3072\u3068\u3064\u306e\u76ee\u5b89\u3068\u3057\u3066\u53c2\u8003\u306b\u3057\u3066\u304f\u3060\u3055\u3044\u3002<\/p>\n\n\n\n

          \u4e2d\u5c0f\u4f01\u696d\u306b\u304a\u3051\u308bEV\/EBITDA\u500d\u7387\u306e\u76ee\u5b89<\/h3>\n\n\n\n

          \u975e\u4e0a\u5834\u306e\u4e2d\u5c0f\u4f01\u696d\u306b\u304a\u3051\u308bEV\/EBITDA\u500d\u7387\u306e\u5e73\u5747\u30c7\u30fc\u30bf\u306f\u5b58\u5728\u3057\u307e\u305b\u3093\u3002\u6240\u5c5e\u3059\u308b\u696d\u7a2e\u306b\u3088\u308a\u5927\u304d\u304f\u7570\u306a\u308a\u3001\u4eca\u5f8c\u3082\u5e02\u5834\u306e\u6210\u9577\u62e1\u5927\u304c\u898b\u8fbc\u307e\u308c\u308b\u5834\u5408\u306b\u306f\u500d\u73878\uff5e10\u7a0b\u5ea6\u3001\u6210\u719f\u6bb5\u968e\u306b\u3042\u308a\u6025\u6fc0\u306a\u6210\u9577\u62e1\u5927\u304c\u898b\u8fbc\u307e\u308c\u306a\u3044\u5834\u5408\u306b\u306f\u500d\u73873\uff5e5\u7a0b\u5ea6\u304c\u76ee\u5b89\u3068\u306a\u308a\u307e\u3059\u3002\u307e\u305f\u3001\u5b9f\u52d9\u7684\u306b\u8b72\u53d7\u4f01\u696d\u304c\u8b72\u6e21\u4fa1\u683c\u3092\u6c7a\u5b9a\u3059\u308b\u969b\u306b\u306f\u3001EV\/EBITDA\u500d\u7387\u304c3\u500d\u3092\u5207\u3063\u3066\u3044\u308b\u3068\u5272\u5b89\u3067\u3042\u308b\u3068\u5224\u65ad\u3059\u308b\u30b1\u30fc\u30b9\u304c\u591a\u3044\u3067\u3059\u3002<\/p>\n\n\n\n

          \u4e0a\u5834\u4f1a\u793e\u306b\u304a\u3051\u308bEV\/EBITDA\u500d\u7387\u306e\u696d\u754c\u5e73\u5747<\/h3>\n\n\n\n

          \u4e0a\u5834\u4f01\u696d\u306e\u4e8b\u696d\u4fa1\u5024\u3092\u8003\u3048\u308b\u5834\u5408\u3001\u5e74\u5ea6\u306b\u3088\u308b\u5909\u52d5\u306f\u3042\u308a\u307e\u3059\u304c\u3001EV\/EBITDA\u500d\u7387\u306e\u5e73\u5747\u306f\u6982\u306d8\uff5e10\u500d\u3068\u3055\u308c\u3066\u304a\u308a\u3001\u3053\u308c\u3092\u57fa\u6e96\u306bEV\/EBITDA\u500d\u7387\u304c8\u500d\u4ee5\u4e0b\u3067\u3042\u308c\u3070\u5272\u5b89\u3068\u8003\u3048\u3089\u308c\u307e\u3059\u3002\u305f\u3060\u3057\u3001\u3053\u308c\u306f\u4e3b\u306b\u4e0a\u5834\u4f01\u696d\u306eEV\/EBITDA\u500d\u7387\u3092\u96c6\u8a08\u3057\u305f\u3082\u306e\u3067\u3042\u308a\u3001\u975e\u4e0a\u5834\u306e\u4e2d\u5c0f\u4f01\u696d\u3001\u4e2d\u5805\u4f01\u696d\u306b\u307e\u3067\u9069\u7528\u3067\u304d\u308b\u308f\u3051\u3067\u306f\u306a\u3044\u3053\u3068\u306b\u6ce8\u610f\u304c\u5fc5\u8981\u3067\u3059\u3002<\/p>\n\n\n\n

          \u65e5\u672c\u4f01\u696d\u306eEV\/EBITDA\u500d\u7387\u306b\u3064\u3044\u3066\u3001\u8ca1\u52d9\u5206\u6790\u30de\u30cb\u30e5\u30a2\u30eb<\/a>\u306e\u30c7\u30fc\u30bf\u3092\u57fa\u306b\u696d\u754c\u5225\u7279\u5fb4\u3092\u4e0b\u8868\u306b\u307e\u3068\u3081\u307e\u3057\u305f\u3002<\/p>\n\n\n\n

          \u500d\u7387\u5206\u985e<\/th>\u696d\u7a2e\u540d<\/th>2024\u5e74\u5e73\u5747\u5024<\/th>2024\u5e74\u4e2d\u592e\u5024<\/th>\u696d\u7a2e\u7279\u6027\u3068\u500d\u7387\u306e\u80cc\u666f<\/th><\/tr><\/thead>
          \u5168\u696d\u7a2e<\/td>\u5168\u696d\u7a2e<\/td>13.9\u500d<\/td>7.5\u500d<\/td>\u4e2d\u592e\u5024\u306e7.5\u500d\u304c\u5b9f\u614b\u306b\u8fd1\u3044\u6c34\u6e96\u3067\u3001\u4e00\u822c\u7684\u306b6\u301c8\u500d\u7a0b\u5ea6\u304c\u5168\u696d\u7a2e\u306e\u76ee\u5b89\u3068\u3055\u308c\u3066\u3044\u307e\u3059\u3002<\/td><\/tr>
          \u9ad8\u500d\u7387\u696d\u7a2e<\/td>\u60c5\u5831\u30fb\u901a\u4fe1\u696d<\/td>17.4\u500d<\/td>8.9\u500d<\/td>BS\u304c\u8efd\u3044\u696d\u7a2e\u3067\u306f\u500d\u7387\u304c\u9ad8\u304f\u306a\u308b\u50be\u5411\u304c\u3042\u308a\u307e\u3059\u3002\u8a2d\u5099\u6295\u8cc7\u304c\u5c11\u306a\u304f\u3001\u53ce\u76ca\u6027\u306e\u9ad8\u3044\u30d3\u30b8\u30cd\u30b9\u30e2\u30c7\u30eb\u304c\u591a\u3044\u3053\u3068\u304c\u7279\u5fb4\u3067\u3059\u3002<\/td><\/tr>
          <\/td>\u30b5\u30fc\u30d3\u30b9\u696d<\/td>15.3\u500d<\/td>8.0\u500d<\/td>BS\u304c\u8efd\u3044\u696d\u7a2e\u3067\u306f\u500d\u7387\u304c\u9ad8\u304f\u306a\u308b\u50be\u5411\u304c\u3042\u308a\u307e\u3059\u3002\u8a2d\u5099\u6295\u8cc7\u304c\u5c11\u306a\u304f\u3001\u53ce\u76ca\u6027\u306e\u9ad8\u3044\u30d3\u30b8\u30cd\u30b9\u30e2\u30c7\u30eb\u304c\u591a\u3044\u3053\u3068\u304c\u7279\u5fb4\u3067\u3059\u3002<\/td><\/tr>
          <\/td>\u5c0f\u58f2\u696d<\/td>16.9\u500d<\/td>9.0\u500d<\/td>BS\u304c\u8efd\u3044\u696d\u7a2e\u3067\u306f\u500d\u7387\u304c\u9ad8\u304f\u306a\u308b\u50be\u5411\u304c\u3042\u308a\u307e\u3059\u3002\u8a2d\u5099\u6295\u8cc7\u304c\u5c11\u306a\u304f\u3001\u53ce\u76ca\u6027\u306e\u9ad8\u3044\u30d3\u30b8\u30cd\u30b9\u30e2\u30c7\u30eb\u304c\u591a\u3044\u3053\u3068\u304c\u7279\u5fb4\u3067\u3059\u3002<\/td><\/tr>
          \u4e2d\u7a0b\u5ea6\u500d\u7387\u696d\u7a2e<\/td>\u6a5f\u68b0<\/td>15.4\u500d<\/td>6.4\u500d<\/td>\u5e73\u5747\u5024\u306f\u9ad8\u3081\u3067\u3059\u304c\u3001\u4e2d\u592e\u5024\u306f\u5168\u696d\u7a2e\u5e73\u5747\u306b\u8fd1\u3044\u6c34\u6e96\u3068\u306a\u3063\u3066\u3044\u307e\u3059\u3002<\/td><\/tr>
          <\/td>\u4e0d\u52d5\u7523\u696d<\/td>13.2\u500d<\/td>10.5\u500d<\/td>\u4e2d\u7a0b\u5ea6\u306e\u500d\u7387\u6c34\u6e96\u3092\u793a\u3057\u3066\u3044\u307e\u3059\u3002<\/td><\/tr>
          <\/td>\u305d\u306e\u4ed6\u88fd\u54c1<\/td>13.4\u500d<\/td>6.5\u500d<\/td>\u4e2d\u7a0b\u5ea6\u306e\u500d\u7387\u6c34\u6e96\u3092\u793a\u3057\u3066\u3044\u307e\u3059\u3002<\/td><\/tr>
          \u4f4e\u500d\u7387\u696d\u7a2e<\/td>\u8f38\u9001\u7528\u6a5f\u5668<\/td>5.6\u500d<\/td>4.3\u500d<\/td>\u8a2d\u5099\u7b49\u306e\u8cc7\u7523\u304c\u5927\u304d\u3044\u88fd\u9020\u696d\u7cfb\u3067\u306f\u500d\u7387\u304c\u4f4e\u304f\u306a\u308a\u307e\u3059\u3002\u5927\u304d\u306a\u8a2d\u5099\u6295\u8cc7\u304c\u5fc5\u8981\u3067\u3001\u8cc7\u672c\u96c6\u7d04\u7684\u306a\u4e8b\u696d\u69cb\u9020\u304c\u5f71\u97ff\u3057\u3066\u3044\u307e\u3059\u3002<\/td><\/tr>
          <\/td>\u9244\u92fc<\/td>5.7\u500d<\/td>4.8\u500d<\/td>\u8a2d\u5099\u7b49\u306e\u8cc7\u7523\u304c\u5927\u304d\u3044\u88fd\u9020\u696d\u7cfb\u3067\u306f\u500d\u7387\u304c\u4f4e\u304f\u306a\u308a\u307e\u3059\u3002\u5927\u304d\u306a\u8a2d\u5099\u6295\u8cc7\u304c\u5fc5\u8981\u3067\u3001\u8cc7\u672c\u96c6\u7d04\u7684\u306a\u4e8b\u696d\u69cb\u9020\u304c\u5f71\u97ff\u3057\u3066\u3044\u307e\u3059\u3002<\/td><\/tr>
          <\/td>\u30d1\u30eb\u30d7\u30fb\u7d19<\/td>6.2\u500d<\/td>5.8\u500d<\/td>\u8a2d\u5099\u7b49\u306e\u8cc7\u7523\u304c\u5927\u304d\u3044\u88fd\u9020\u696d\u7cfb\u3067\u306f\u500d\u7387\u304c\u4f4e\u304f\u306a\u308a\u307e\u3059\u3002\u5927\u304d\u306a\u8a2d\u5099\u6295\u8cc7\u304c\u5fc5\u8981\u3067\u3001\u8cc7\u672c\u96c6\u7d04\u7684\u306a\u4e8b\u696d\u69cb\u9020\u304c\u5f71\u97ff\u3057\u3066\u3044\u307e\u3059\u3002<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

          \u5e74\u5ea6\u5225\u63a8\u79fb\u306e\u7279\u5fb4<\/h4>\n\n\n\n

          2020\u5e74\u304b\u30892024\u5e74\u306e\u63a8\u79fb\u3092\u898b\u308b\u3068\u3001\u5168\u696d\u7a2e\u5e73\u5747\u306f2021\u5e74\u306b27.7\u500d\u307e\u3067\u4e0a\u6607\u3057\u305f\u5f8c\u30012022\u5e74\u306b13.9\u500d\u307e\u3067\u4f4e\u4e0b\u3057\u30012024\u5e74\u3082\u540c\u6c34\u6e96\u3092\u7dad\u6301\u3057\u3066\u3044\u307e\u3059\u3002\u3053\u306e\u5909\u52d5\u306f\u3001\u30b3\u30ed\u30ca\u798d\u306b\u3088\u308b\u696d\u7e3e\u3078\u306e\u5f71\u97ff\u3084\u682a\u4fa1\u5909\u52d5\u304c\u8981\u56e0\u3068\u8003\u3048\u3089\u308c\u307e\u3059\u3002<\/p>\n\n\n\n

          EV\/EBITDA\u500d\u7387\uff08\u30de\u30eb\u30c1\u30d7\u30eb\uff09\u306e\u6539\u5584\u7b56<\/strong><\/h3>\n\n\n\n

          \u4ee5\u4e0b\u306b\u3001EBITDA\u306e\u6539\u5584\u65b9\u6cd5\u306b\u3064\u3044\u3066\u5177\u4f53\u7684\u306b\u89e3\u8aac\u3057\u307e\u3059\u3002<\/p>\n\n\n\n

          \u58f2\u4e0a\u3084\u55b6\u696d\u5229\u76ca\u3092\u5897\u3084\u3059<\/h4>\n\n\n\n

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