Business valuations can be a very complicated process - and the larger the more complicated the industry, usually the longer and more complicated the process and the final report. Any valuation will look at the current state of the industry as a whole, review other valuations and info from other sources and review everything from risks and possible ROI to considering unplanned events - like the possibility of competitive action. Technology can be specifically difficult as much development is done behind closed doors. As such, assumptions need to be made - but they must be as accurate as possible. All this takes time and effort to gather info - usually many months. Then all the data needs to be analyzed and applied to specific valuation models deemed appropriate for the specific industry. Then there needs to a collaborative report written by all those that researched. Some valuations require outside consultants that have expertise in a certain field - and completion timing can depend on their timetables. Then it needs to reviewed by the company and any sensitive info changed, deleted or redacted if the report is to be for public consumption.

Just a brief overview/summation but you get the picture. Takes time if it is done right.