Question 1

What is MSCI's EV/EBITDA ratio?

Accepted Answer

MSCI (MSCI) EV/EBITDA ratio is 25.8× as of June 5, 2026. The ratio is calculated by dividing enterprise value by trailing twelve-month EBITDA, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the EV/EBITDA ratio calculated?

Accepted Answer

EV/EBITDA = Enterprise Value ÷ Trailing Twelve-Month (TTM) EBITDA, where Enterprise Value = Market Capitalisation + Total Debt − Cash & Short-Term Investments. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the EV/EBITDA ratio?

Accepted Answer

The EV/EBITDA ratio (the enterprise multiple) compares enterprise value (EV) to trailing twelve-month (TTM) EBITDA. EV is calculated as market capitalisation + total debt − cash & short-term investments. Because EV/EBITDA is capital-structure-neutral and ignores non-cash depreciation and amortisation, it is the standard multiple used in M&A and for cross-company or cross-border comparisons. Note: this calculation uses a simplified EV (minority interest and preferred equity excluded due to data availability), consistent with most public financial-data providers.

Question 4

What is a good EV/EBITDA ratio for MSCI?

Accepted Answer

Mature, cash-generative businesses commonly trade in the 8–12× EV/EBITDA range; higher-growth, asset-light companies often trade at 15–25×+. EV/EBITDA is most useful for comparing companies with different capital structures (debt levels) or tax regimes. For MSCI specifically, the relevant sector benchmark is the current sector median of 9.3×.

Question 5

Is MSCI's EV/EBITDA ratio high or low?

Accepted Answer

MSCI's EV/EBITDA ratio of 25.8× is below its own 5-year average of 31.1× and above the sector median of 9.3×. That places the current reading at the 14th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is MSCI's historical EV/EBITDA ratio range?

Accepted Answer

In the available daily series, MSCI (MSCI) EV/EBITDA ratio has ranged from a low of 10.9× in 2013 to a high of 243.3× in 2007. The 5-year average is 31.1× and the 5-year median is 28.5×.

Question 7

What was MSCI's EV/EBITDA ratio in 2025?

Accepted Answer

MSCI (MSCI) EV/EBITDA ratio at the end of 2025 was 26.1×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month EBITDA figure available at that date.

Question 8

Why does MSCI's EV/EBITDA ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (enterprise value, which tracks share price plus net debt) and the denominator (EBITDA). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$44.27B	$1.92B	26.1×	-3.2×	Dec 31, 2025
2024	$47.02B	$1.75B	29.4×	+0.8×	Dec 31, 2024
2023	$44.75B	$1.71B	28.5×	-1.6×	Dec 31, 2023
2022	$37.21B	$1.36B	30.1×	-16.3×	Dec 31, 2022
2021	$50.53B	$1.15B	46.4×	+5.3×	Dec 31, 2021
2020	$36.94B	$953.34M	41.1×	+13.2×	Dec 31, 2020
2019	$21.89B	$847.55M	27.9×	+10.8×	Dec 31, 2019
2018	$12.82B	$848.54M	17.1×	-1.9×	Dec 31, 2018
2017	$11.41B	$662.98M	19.0×	+3.9×	Dec 31, 2017
2016	$7.35B	$570.63M	15.1×	-2.1×	Dec 31, 2016
2015	$7.42B	$477.19M	17.2×	+3.6×	Dec 31, 2015
2014	$5.33B	$411.71M	13.6×	+0.5×	Dec 31, 2014
2013	$5.20B	$429.03M	13.2×	+1.6×	Dec 31, 2013
2012	$3.78B	$379.96M	11.5×	-3.0×	Dec 31, 2012
2011	$3.99B	$321.96M	14.5×	-10.8×	Dec 31, 2011
2010	$4.03B	$197.34M	25.3×	+6.5×	Nov 30, 2010
2009	$3.06B	$157.81M	18.8×	+7.8×	Nov 30, 2009
2008	$1.47B	$145.56M	11.0×	-2.0×	Nov 30, 2008
2007	$2.32B	$208.07M	13.0×	-11.8×	Nov 30, 2007
2006	$2.09B	$83.30M	24.9×	-3.3×	Nov 30, 2006
2005	$2.09B	$73.63M	28.1×	—	Nov 30, 2005


Wells Fargo (WFC)	2.9×
Farmers & Merchants Bancorp (FMCB)	2.8×
JPMorgan Chase (JPM)	2.3×
AXIS Capital Holdings (AXS)	2.2×
American International Group (AIG)	1.9×
Ally Financial (ALLY)	1.7×
United Bankshares (UBSI)	1.6×
Commerce Bancshares (CBSH)	0.7×
W. R. Berkley (WRB)	-0.0×
Morgan Stanley (MS)	-0.3×
M&T Bank (MTB)	-0.6×
Capital One Financial (COF)	-0.6×
Everest Re Group (EG)	-0.7×
Travelers Companies (TRV)	-2.5×
Globe Life (GL-PD)	-2.6×
RenaissanceRe Holdings (RNR)	-3.5×
PNC Financial Services Group (PNC)	-3.8×
BancFirst (BANF)	-5.5×
U.S. Bancorp (USB)	-5.5×
KeyCorp (KEY)	-9.2×
Bank of New York Mellon (BNY)	-13.3×
Bank of New York Mellon (BK)	-13.3×
Ames National (ATLO)	-14.6×
State Street (STT)	-17.7×
MetLife (MET)	-46.3×

EV/EBITDA for MSCI (MSCI)

EV/EBITDA daily chart for MSCI (MSCI)

Historical EV/EBITDA for MSCI (MSCI) from 2005 to 2025

About EV/EBITDA at MSCI (MSCI)

MSCI EV/EBITDA by Year

MSCI EV/EBITDA 2025: 26.1×

MSCI EV/EBITDA 2024: 29.4×

MSCI EV/EBITDA 2023: 28.5×

MSCI EV/EBITDA 2022: 30.1×

MSCI EV/EBITDA 2021: 46.4×

Sector peers by EV/EBITDA — chart

Sector peers by EV/EBITDA — table

Frequently asked questions

MSCI (MSCI) Key Financials

EV/EBITDA daily chart for MSCI (MSCI)

Historical EV/EBITDA for MSCI (MSCI) from 2005 to 2025

About EV/EBITDA at MSCI (MSCI)

MSCI EV/EBITDA by Year

MSCI EV/EBITDA 2025: 26.1×

MSCI EV/EBITDA 2024: 29.4×

MSCI EV/EBITDA 2023: 28.5×

MSCI EV/EBITDA 2022: 30.1×

MSCI EV/EBITDA 2021: 46.4×

Sector peers by EV/EBITDA — chart

Sector peers by EV/EBITDA — table

Frequently asked questions

+What is MSCI's EV/EBITDA ratio?

+How is the EV/EBITDA ratio calculated?

+What is the EV/EBITDA ratio?

+What is a good EV/EBITDA ratio for MSCI?

+Is MSCI's EV/EBITDA ratio high or low?

+What is MSCI's historical EV/EBITDA ratio range?

+What was MSCI's EV/EBITDA ratio in 2025?

+Why does MSCI's EV/EBITDA ratio change over time?

MSCI (MSCI) Key Financials