Global Commodities v.2 approach calculates EV/EBITDA Expected multiple and assumes its returning to historical EV/EBITDA Expected multiple 75% percentile value (unlike previous version of Global Commodities, which calculates EV/Expected EBITDA multiple and assumes its returning to historical EV/LTM EBITDA multiple on the 75% percentile basis)

Such approach is a bit more precise and shows a bit better backtest results