The impact of IFRS 16 on EV/EBITDA and business valuation

Vliv implementace účetního standardu IFRS 16 na výši ukazatele EV/EBITDA a ocenění podniku

Pavel Huňáček and Ondřej Jíša

Oceňování, 2021, vol. 14, issue 1, 34-46

Abstract: This article deals with an analysis of an impact of accounting standard IFRS 16 leases on EV/EBITDA multiple. The analysis was done on a sample of companies from industry groups "Air transport" and "Retail (Grocery and Food)", which are used by professor Damodaran in calculation of data provided by him. Initially a research of companies included in these groups has been carried out. Then subsequently an impact of IFRS 16 application, based on financial data from financial statements of selected companies, on Enterprise value and its components was assessed. Impacts on EBITDA were also assessed. To conclude the analysis, a total impact on EV/EBITDA multiple was quantified, based on which, recommendations on the use of EV/EBITDA were made.

Keywords: Leases; IFRS 16; EV/EBITDA; Nájmy (search for similar items in EconPapers)
JEL-codes: G32 (search for similar items in EconPapers)
Date: 2021
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DOI: 10.18267/j.ocenovani.258

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