Quarterly Update 2|2025: Cost of capital and SME multiples in the DACH region

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Compared to the last quarter, levered and unlevered beta factors, revenue multiples, and returns on invested capital (ROIC) have fallen slightly. On the other hand, EBIT multiples, earnings multiples, book value multiples, and revenue growth rates have risen slightly. The risk-free interest rate has also fallen slightly in both Switzerland and Germany compared to the previous quarter.