Sector · Services-Business Services, NEC

What business services companies are worth

16 listed business services companies, compared on the measures that survive a look at the balance sheet. Every figure is built from filed accounts.

01

Where the sector trades

The median business services companie trades on 16.1× EBITDA, across the 15 of 16 companies where EBITDA could be computed from filings. Median operating margin is 19.4%.

Median valuation measures for Business services
MeasureSector medianCompanies measured
EV / EBITDA*16.1×15 of 16
EV / Sales*3.6×15 of 16
Net debt / EBITDA1.4×16 of 16
Return on capital16.8%16 of 16
Operating margin19.4%16 of 16
Free cash flow margin21.6%16 of 16
02

All business services companies we cover

16 business services companies compared on valuation measures
CompanyEV / EBITDAEV / SalesOperating marginFree cash flow marginReturn on capital
ACNAccenture plc9.9×1.5×14.7%15.6%27.6%
AKAMAKAMAI TECHNOLOGIES INC11.1×3.4×13.5%24.0%11.9%
BRBROADRIDGE FINANCIAL SOLUTIONS, INC.15.2×2.9×17.4%17.1%21.3%
CPAYCORPAY, INC.16.1×8.5×44.0%28.7%10.7%
CSGPCOSTAR GROUP, INC.61.7×3.6×−2.2%3.8%−0.8%
DASHDoorDash, Inc.55.5×6.0×5.3%15.8%7.3%
EBAYEBAY INC18.4×4.5×20.5%12.9%20.0%
FICOFAIR ISAAC CORP27.1×12.8×46.5%38.7%51.8%
FISFidelity National Information Services, Inc.10.0×3.4×16.3%23.0%5.3%
FISVFISERV INC8.3×2.5×27.5%20.3%10.6%
GPNGLOBAL PAYMENTS INC13.5×5.2×22.8%26.5%3.9%
MAMastercard Inc26.3×16.1×57.6%52.3%62.5%
MSCIMSCI Inc.26.4×14.6×54.7%49.4%46.4%
PYPLPayPal Holdings, Inc.7.2×1.5×18.3%16.8%19.6%
UBERUber Technologies, Inc24.8×3.0×10.7%18.8%13.9%
VVISA INC.——60.0%53.9%40.2%

* EV/EBITDA and EV/Sales move with share prices; these are a snapshot taken 2026-09-09. Margins and return on capital come from filed accounts and hold until the next reporting season. A dash means the measure could not be computed — most often because EBITDA was negative, or because enterprise value is not a meaningful concept for the company. Each company page says which.

03

Head to head

35 pairs from this sector compared side by side, with the sector median beside them.

MA vs UBERACN vs MADASH vs MAMA vs PYPLACN vs UBERDASH vs UBERPYPL vs UBERACN vs DASHACN vs PYPLDASH vs PYPLDASH vs EBAYEBAY vs PYPLMSCI vs PYPLEBAY vs MSCIEBAY vs FISVFISV vs MSCICPAY vs MSCICPAY vs FISVFISV vs GPNCPAY vs GPNCPAY vs FISFIS vs GPNFICO vs GPNFICO vs FISBR vs FISBR vs FICOAKAM vs FICOAKAM vs BRBR vs CSGPAKAM vs CSGPAKAM vs VCSGP vs VCSGP vs FICOBR vs VFICO vs V
04

How to read these

EV/EBITDA compares the whole cost of the business — equity plus debt, less cash — to its operating cash earnings. It is the multiple an acquirer thinks in, and unlike a P/E it is not distorted by how much debt a company carries.

Operating and free cash flow margins need no share price at all, so they are the fairest way to compare companies within a sector on the same day. A wide gap between the two usually means heavy capital spending.

Return on capital is operating income over debt plus equity. It says how much the business earns on the money tied up in it, which is a different question from whether the shares are cheap.

None of these is a recommendation, and a low multiple is not the same thing as a bargain — see the disclaimer. The company pages show the arithmetic and link to the filing behind every term.