RL Hulett：2025年第四季度全球交通物流行业并购市场研究报告（英文版）

In Q4, the T&L Industry Index increased by 8.9% and outperformed the S&P, which increased 2.0% over the same period. ▪ The median EV/EBITDA multiple for reported strategic deals in the T&L sector increased to 12.7x in 2025 from 4.7x in the prior year, but decreased for private equity deals to 5.4x from 10.7x in 2024. ▪ M&A deal volume in the sector decreased 11.2% in Q4 to 239 deals from 269 in Q3, and decreased 1.2% from 242 deals in Q4 of the prior year.