The selling price-to-EBITDA multiple ticked up modestly in the first quarter of 2022 before declining sharply in the second quarter of###-###-#### EBITDA margins (EBITDA as a percentage of revenue) remained near 16% in the second quarter of 2022 after previously hovering between 11% and 12% between the first quarter of 2019 through the fourth quarter of###-###-#### EBITDA margins were at their lowest point in the fourth quarter of 2016, at 9%.