The market story of privately owned companies is again mixed in 2019, while earnings before interest depreciation and amortization (EBITDA) margins have decreased, the multiples paid for those earnings have increased. Do note, these are averages that incorporate all industries and all market sectors. EBITDA multiples rise EBITDA multiples across all industries rebounded after declining in the prior two quarters, reporting at 4.8x in the first quarter of 2020. In an unstable