Ardent — Sector Multiples Report

1 · Load the comparables master

The same Ardent_Comparables_Master.xlsx the Valuation Builder uses. Tickers are read here; multiples are fetched live from FMP.

2 · Probe one ticker verify FMP fields first

Before a full run, fetch a single ticker and see exactly what FMP returns on your plan. Gross margin, revenue growth and 10-year history use endpoints this tool has not used before — confirm the field names come back populated here first. Paste the raw output back if anything reads — that shouldn't.

3 · Fetch multiples from FMP

One TTM call per company across every populated sector. Rate-limited; a full run takes a minute or two.

4 · Overview — all sectors

One row per sector. Click a row to drill into its companies. Dispersion is the interquartile range as a percentage of the median; above 60% it turns red, a signal the set may not price as one asset.

5 · Ten-year history annual · plan-dependent depth

Median across each sector, by fiscal year. Historical depth depends on your FMP plan — if lines start later than ten years back, that is coverage, not a bug. Multiples are as at each year end; margins and growth are annual.

6 · Quality vs multiple two lenses per sector

Two scatters per sector, each dot a company, y = EV/Revenue. Left: Rule of 40 (growth + EBITDA margin) — rewards profitability. Right: Quality (growth + gross margin) — rewards revenue quality, ignoring how hard a company reinvests. Whichever lines up tighter shows what that sector's multiples actually reward. Rule of 40 needs EBITDA margin (probe to confirm); Quality uses gross margin and growth, already confirmed.