While the second quarter of 2020 saw businesses across the U.S. economy adversely affected by the spread of the coronavirus, which was evident by the decline in EBITDA multiples, signaling concern over the outlook for businesses, DealStats has observed a recovery in the third quarter of 2020, which is marked by a rise in EBITDA multiples, which possibly signals a hopeful view that better times are ahead. In the third quarter of 2020, the median EBITDA multiple seen in transactions across all industries rose to 5.1x, which was the multiple’s highest level since 2018. This was up from 3.7x in the prior quarter, when the multiple fell as deal activity nearly came to a standstill due to the uncertainty from the government-mandated lockdowns and the effects on the U.S. economy.