A multiple is a benchmark instrument, not a valuation methodology. A business needs to be valued via DCF, using a multiple to value a business is a big mistake.

Let me clarify, e.g. An EBITDA multiple of 8x all it means is that the company's Enterprise Value is 8x the company's (either FY0 or preferably FY+1) EBITDA. But the important number here is not the multiple, it's the Enterprise Value! The multiple is the by-product of the valuation (Enterprise Value/EBITDA = Multiple), and not vice-versa. By using a multiple you are potentially omitting the company's future growth, capital structure, increase in profitability/margins, etc. That is why the smart way of valuing a business is via DCF. By using a DCF you are able to critically test if the operational metrics, implied growth, revenues, costs, profitability, etc assumptions are realistic and achievable. And in the case of a tech companies, one makes sure that growth (where a big chunk of value is) is factored/priced in.