Advantages:
1. Comprehensive valuation: Enterprise value multiple takes into account all the components of a company's capital structure, including debt and equity, providing a more comprehensive valuation than other multiples.

2. Useful for comparing companies: Enterprise value multiple is useful for comparing companies of different sizes and capital structures, as it is a relative valuation metric.

3. Reflects market sentiment: Enterprise value multiple reflects market sentiment about a company's future growth prospects and risk profile.

Disadvantages:
1. Ignores non-operating assets: Enterprise value multiple ignores non-operating assets such as cash and investments, which can distort the valuation if they are significant.

2. Sensitive to debt levels: Enterprise value multiple is sensitive to a company's debt levels, which can lead to misleading valuations if debt levels are high.

3. Limited scope: Enterprise value multiple only provides a snapshot of a company's valuation at a particular point in time and does not take into account future growth potential or changes in the market.