In the United States, the median value of enterprise value to earnings before interest, tax, depreciation and amortization (EV/EBITDA) in the finance, insurance and real estate sector as of 2025 was a multiple of approximately 21.4x. Companies operating in the investments and asset management industry saw the highest valuation multiple with EV/EBITDA valued at 49.8x in 2025, much higher than the 34.9x recorded for 2024.
Average EV/EBITDA multiples in the finance, insurance and real estate sector in the United States from 2019 to 2025, by industry
Values are as of January each year. A total of 604 companies were included in the calculation for 2025, 710 for 2024, 1,013 for 2023, 1,106 for 2022, 787 for 2021, 611 for 2020 and 631 for 2019.Â
Enterprise value = Market value of equity + Market value of debt - Cash. EBITDA = Estimated by adding depreciation and amortization back to operating income (EBIT). Only positive EBITDA companies.
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Leonard N. Stern School of Business. (January 5, 2025). Average EV/EBITDA multiples in the finance, insurance and real estate sector in the United States from 2019 to 2025, by industry [Graph]. In Statista. Retrieved June 03, 2025, from https://www.statista.com/statistics/1030066/enterprise-value-to-ebitda-in-the-finance-insurance-and-real-estate-sector-in-united-states/
Leonard N. Stern School of Business. "Average EV/EBITDA multiples in the finance, insurance and real estate sector in the United States from 2019 to 2025, by industry." Chart. January 5, 2025. Statista. Accessed June 03, 2025. https://www.statista.com/statistics/1030066/enterprise-value-to-ebitda-in-the-finance-insurance-and-real-estate-sector-in-united-states/
Leonard N. Stern School of Business. (2025). Average EV/EBITDA multiples in the finance, insurance and real estate sector in the United States from 2019 to 2025, by industry. Statista. Statista Inc.. Accessed: June 03, 2025. https://www.statista.com/statistics/1030066/enterprise-value-to-ebitda-in-the-finance-insurance-and-real-estate-sector-in-united-states/
Leonard N. Stern School of Business. "Average Ev/Ebitda Multiples in The Finance, Insurance and Real Estate Sector in The United States from 2019 to 2025, by Industry." Statista, Statista Inc., 5 Jan 2025, https://www.statista.com/statistics/1030066/enterprise-value-to-ebitda-in-the-finance-insurance-and-real-estate-sector-in-united-states/
Leonard N. Stern School of Business, Average EV/EBITDA multiples in the finance, insurance and real estate sector in the United States from 2019 to 2025, by industry Statista, https://www.statista.com/statistics/1030066/enterprise-value-to-ebitda-in-the-finance-insurance-and-real-estate-sector-in-united-states/ (last visited June 03, 2025)
Average EV/EBITDA multiples in the finance, insurance and real estate sector in the United States from 2019 to 2025, by industry [Graph], Leonard N. Stern School of Business, January 5, 2025. [Online]. Available: https://www.statista.com/statistics/1030066/enterprise-value-to-ebitda-in-the-finance-insurance-and-real-estate-sector-in-united-states/
