Testing, Inspection & Certification

Testing, Inspection and Certification Valuation Benchmarks

Testing, inspection and certification is the highest rated discipline in the compliance world, and the publicly traded groups on the stock market explain why: mandated, repeating, asset-linked revenue with very high renewal rates. It is the clearest available benchmark for any private business whose income is driven by a statutory inspection cycle.

What these companies are, in plain English

Every company on this page is publicly traded: its shares are bought and sold on a stock exchange such as the London Stock Exchange, the New York Stock Exchange or NASDAQ. Anyone can buy a share, and the law requires these companies to publish their revenue, profit and debt in full. That is why we can show what buyers pay for them.

Your business is almost certainly private: the shares are held by you and perhaps a few others, and nothing has to be published beyond your filed accounts. Private companies sell for less than publicly traded ones of the same type, because a buyer cannot sell the shares on again at the click of a button and carries more risk in checking the numbers. Treat the figures here as the ceiling the market sets, not the price your business would fetch.

What are publicly traded testing, inspection & certification companies valued at?

Publicly traded testing, inspection & certification companies, meaning those whose shares are bought and sold on a stock exchange, are valued at a median of 15.8x EV/EBITDA, across a range of 9.2x to 21.8x, based on 7 companies whose shares trade on a stock exchange, as at 2026-08-14.

Private companies in the same trades sell for less than this. Stock market valuations reflect scale, the ease of selling shares on again and full public reporting, none of which a private seller carries.

Median EV/EBITDA	15.8x
Range	9.2x – 21.8x
Constituents	7

Last reviewed August 2026 by Joe Lewin, Founder and Managing Director, DealFlowAgent.

The publicly traded companies in this sector

Publicly traded Testing, Inspection & Certification companies on stock exchanges worldwide, with reported valuation multiples
	Stock exchange	Market cap					As at / source
UL Solutions Inc. Electrical testing and compliance	New York Stock Exchange Ticker NYSE: ULS · United States	$10bn to $50bn	21.8x	5.0x	22.9%	—	2026-08-14 Investor relations
ALS Limited Electrical testing and compliance	Australian Securities Exchange Ticker ASX: ALQ.AX · Australia	$2bn to $10bn	18.1x	3.9x	21.3%	—	2026-08-14 Investor relations
SGS SA Testing, inspection and certification	SIX Swiss Exchange Ticker SIX: SGSN.SW · Switzerland	$10bn to $50bn	17.4x	3.1x	18.1%	—	2026-08-14 Investor relations
TIC Solutions, Inc. (Acuren) Testing, inspection and certification	New York Stock Exchange Ticker NYSE: TIC · United States	$2bn to $10bn	14.3x	1.7x	11.9%	—	2026-08-14 Investor relations
Eurofins Scientific SE Electrical testing and compliance	Euronext Ticker Euronext: ERF.PA · Luxembourg	$10bn to $50bn	10.5x	2.2x	20.8%	—	2026-08-14 Investor relations
Mistras Group, Inc. Electrical testing and compliance	New York Stock Exchange Ticker NYSE: MG · United States	$500m to $2bn	9.2x	1.1x	11.8%	—	2026-08-14 Investor relations
Bureau Veritas SA Electrical testing and compliance	Euronext Ticker Euronext: BVI.PA · France	$10bn to $50bn	—	—	18.1%	—	2026-08-14 Investor relations

What owners can learn from this

Mandated frequency is the whole model

Revenue that recurs because the law requires it is valued far above revenue that recurs because a customer chooses to renew.

Accreditation scope defines the addressable market

Publicly traded TIC groups grow by adding accreditation scopes, not by adding salespeople. The same logic applies to a private business preparing for sale.

Utilisation is the margin driver

Inspector utilisation and revenue per inspector appear in stock market reporting because they explain the margin. Buyers ask for both.

Digital reporting and asset data carry real value

Certification platforms and asset registers create switching costs, and the publicly traded set prices that.

TIC trades above general building services

The premium is visible in the median comparison on the hub page, and it holds in the private market too.

Frequently asked questions

What are publicly traded TIC companies valued at?

The table on this page shows each publicly traded company's reported EV/EBITDA multiple, dated and sourced, with the sector median stated above it.

Do private compliance businesses achieve TIC multiples?

Not the stock market level. The public to private bridge on this page sets out the discount and reconciles it against our compliance and inspection valuation guides.

Why a private company advisory firm publishes this

DealFlowAgent is a sell-side mergers and acquisitions advisory firm. We act for owners of privately held testing, inspection & certification businesses, typically between one million and fifty million pounds of enterprise value, and we run the sale process from preparation through to completion. We do not advise on shares, we do not manage money, and we have no interest in any company named on this page.

These figures are published because they are the only fully disclosed evidence of what buyers pay for this kind of work. They set the ceiling. What a private owner actually achieves is set by the size, contract quality and management depth of their own business, which is what our sector valuation guides and free valuation cover.

Citing this data and press contact

Journalists, analysts and researchers are welcome to reproduce these figures with attribution. Every number is a dated snapshot of publicly reported company data, not a forecast or an opinion on any share.

How to cite

"DealFlowAgent, Testing, Inspection & Certification public market benchmarks, publicly traded comparable library, market values as at 14 August 2026 and earnings evidence to 19 August 2026."

Please link to this page when the figures are quoted. Source documents for each constituent are linked in the table above.

Press contact and commentary

Joe Lewin, Founder of DealFlowAgent, gives commentary on private company valuation, buyer behaviour and consolidation in building services, facilities management and healthcare. Commentary is confined to private M&A. We do not comment on the merits of any listed security.

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