2020 Equity Multiples Market Capitalization 
Musings on Markets
MAY 7, 2023
Consequently, you can only value the equity in a bank, and by extension, the only pricing multiples you can use to price banks are equity multiples (PE, Price to Book etc.). at the end of 2022 to 0.94 in May 2022.
Musings on Markets
OCTOBER 25, 2022
With enterprise value multiples, you can scale enterprise value to FCFF, instead of using EBITDA or revenues as your scalar. It turned the profitability corner in 2020, though FCFE stayed mildly negative that year, and in 2021, the FCFE also turned positive.
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