With the Coronavirus pandemic affecting small businesses across North America throughout the second quarter of 2020, EBITDA (Earnings Before Interest Depreciation and Amortization) multiples moved lower across all industries, coming in at 4.4x. EBITDA Multiples Declined The decline to the median EBITDA multiple in the second quarter of 2020 was representative of the impact that the Coronavirus had on the economy during the quarter, as the multiple in the first quarter of 2020