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3. In the Software as a Service (SaaS) industry, the primary valuation metric is EV/Sales whereas in the retail industry, the primary valuation metric is

3. In the Software as a Service (SaaS) industry, the primary valuation metric is EV/Sales whereas in the retail industry, the primary valuation metric is EV/EBITDA. Explain the key differences between these two multiples and explain why they are suitable for the respective industries above

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