As expected, 2020 experienced volatility in pricing multiples not seen in recent years. In fact, the net sales multiple from 2015 to 2020 in the graph above best highlights the dramatic shifts in the median net sales multiple over the course of 2020 when compared to prior years. Even though the net sales multiple had been trending lower since the fourth quarter of 2018, the second-quarter 2020 multiple fell to its lowest level, 0.42x, with the onset of the coronavirus serving as the culprit for the uncertainty over the damages it caused impacting valuations.
