When does Misano use deal medians instead of the curated niche seed?

When at least three verified deals count for that metric family. A deal counts only if the announcement is ≤5 years old, the deal discloses that metric, and verified is true. With fewer than three counting deals, the curated seed stays — labeled as a curated estimate (N transactions).

Can unverified comps move the valuation?

No. Only the verified pool drives valuation multiples. The community pool (including unverified deals) is informational — how users value the niche — not the headline path.

How are low and high set once the median wins?

With 3–4 counting deals, low/high are min/max of those deals. From 5 deals onward, low/high are p25/p75. The mid is the plain median.

Does this replace the custom → niche → NACE source cascade?

No. This is how the niche source itself is built. The engine still picks exactly one source per metric family (custom override, then niche, then NACE) and then one metric (EV/EBITDA → P/E → EV/Revenue). Detail: misano.ai/guides/custom-then-niche-then-nace.

Three verified niche deals before the median wins.

NACE is too coarse for a lot of businesses — wholesale is not a C2C marketplace. The niche layer fixes that with a catalog of seed multiples and a transaction database. The question is which one prices the company.

When a deal counts

Announcement date at most 5 years back.
The deal actually discloses that metric family (EV/EBITDA, EV/Revenue, or P/E).
Verified = true. Unverified deals never drive the valuation multiple.

No soft coefficients. A deal either counts for that family or it does not.

Three deals → median; fewer → curated seed

≥ 3 counting deals: multiple = plain median of those deals. Low/high = min/max; from 5 deals onward low/high = p25/p75.
< 3 counting deals: the curated niche seed applies. The UI says so — curated estimate (N transactions) vs from N transactions · median.
Only the verified pool prices. A community pool across all deals including unverified is informational ("how users value it"), not the headline path.

Where this sits in the engine

Source cascade still picks exactly one source per metric family: custom → niche → NACE — never a blend (misano.ai/guides/custom-then-niche-then-nace).
After the source is chosen, the metric cascade still picks one method: EV/EBITDA → P/E → EV/Revenue (misano.ai/guides/ev-ebitda-then-pe-then-ev-revenue).
Sanity: implied EBITDA margin (EV/Revenue ÷ EV/EBITDA) must fall in 2–55%, otherwise the niche is flagged for review.

What this is not

Not a weighted blend of seed and deals.
Not letting unverified comps move the headline.
Not a rewrite of how-we-value-companies-at-scale — this is the niche counting rule, in plain language.

Get started at https://app.misano.ai/login. From €39/month billed annually, 14-day money-back, no sales call. Product path: misano.ai/scout.

See also: misano.ai/guides/custom-then-niche-then-nace, misano.ai/guides/ev-ebitda-then-pe-then-ev-revenue, misano.ai/guides/multiples, and misano.ai/guides/how-we-value-companies-at-scale.