Public Comps and Valuation Multiples for Asset Management

Benchmark revenue and EBITDA valuation multiples for public comps like
Morgan Stanley, Goldman Sachs, BlackRock, Blackstone and Brookfield.

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Asset Management

CompanyMarket CapEnterprise ValueLTM RevenueEV/LTM RevenueEV/LTM EBITDA
$350B$471B$75B6.3x-
$311B$374B$61B6.1x-
$157B$159B$26B6.0x14.2x
$151B$165B$14B11.8x20.1x
$108B$356B$7.8B45.7x52.0x
$86B$12B$9.8B1.2x2.0x
$75B$78B$5.7B13.7x25.3x
$70B($167B)$27B(6.1x)(24.7x)
$66B$237B$14B17.0x-
$49B$25B$15B1.7x-
$46B$43B$19B2.3x7.2x
$44B$85B$22B3.9x29.9x
$44B$45B$8.1B5.6x11.0x
$40B$52B$14B3.7x-
$40B$67B$58B1.1x7.9x
$38B$51B$7.2B7.1x-
$36B$51B$487M104.8x(8.1x)
$35B$37B$7.1B5.1x5.7x
$34B$30B$3.2B9.2x15.7x
$34B$47B$8.5B5.5x-
$32B$37B$15B2.4x-
$32B$38B$26B1.4x-
$29B$30B$3.5B8.7x-
$29B$23B$4.6B4.9x-
$27B$42B$5.3B7.9x19.7x
$27B$14B
$26B$4.6B
$26B$7.4B
$25B$6.3B
$24B$927M
$24B$16B
$22B-
$22B$3.1B
$22B$4.6B
$22B$2.6B
$21B$21B
$20B-
$20B$4B
$19B$5.2B
$18B$6.9B
$17B-
$17B$634M
$17B$2.3B
$16B$3.6B
$16B$2B
$16B$3.9B
$16B$3.7B
$16B$7.3B
$15B$2.4B
$15B$5B
$15B-
$15B$1B
$15B$3.3B
$15B-
$14B$365M
$14B$20B
$13B$3.1B
$13B$2.8B
$13B$3B
$13B-
$13B$14B
$13B-
$13B-
$12B$4.5B
$12B-
$12B$4.9B
$12B$3.5B
$12B-
$12B$2.8B
$12B$677M
$12B-
$12B$395M
$12B$968M
$12B$4B
$12B$1.5B
$12B$4.8B
$11B$2.4B
$11B$3B
$11B$8.1B
$11B$11B
$11B$1.5B
$11B$2.6B
$11B$7.2B
$11B$587M
$10B-
$9.9B-
$9.9B-
$9.6B$2B
$9.5B$3.1B
$9.4B$2.2B
$9.4B-
$8.9B$1.1B
$8.8B-
$8.8B$2B
$8.8B$1.7B
$8.7B$8B
$8.7B-
$8.2B$5.1B
$8B$3.1B
$8B-
$7.9B$1.9B
$7.9B$747M
$7.9B$4.7B
$7.8B$1.7B
$7.8B-
$7.6B-
$7.5B-
$7.5B$599M
$7.3B-
$7.2B$998M
$7.2B$1.4B
$6.9B$1.4B
$6.9B$818M
$6.8B$2.4B
$6.7B-
$6.7B-
$6.7B$5.8B
$6.7B$596M
$6.6B-
$6.6B$1.4B
$6.5B$1.8B
$6.4B$1.7B
$6.4B$2.8B
$6.3B-
$6.2B$1.1B
$6.2B$791M
$6.2B$1.7B
$6.2B$830M
$6.2B-
$6.1B$548M
$6.1B$1.9B
$6B-
$6B-
$6B$865M
$6B$1.3B
$5.9B$1.7B
$5.9B-
$5.8B$8.4B
$5.7B$1.4B
$5.6B$2.5B
$5.4B-
$5.4B-
$5.3B$1.8B
$5.3B$14B
$5.1B$3.1B
$5.1B-
$4.9B$685M
$4.9B$1.3B
$4.9B$435M
$4.9B$575M
$4.8B$347M
$4.8B$950M
$4.8B-
$4.7B-
$4.7B-
$4.6B-
$4.6B$11B
$4.6B-
$4.4B$1.6B
$4.4B-
$4.4B$1.9B
$4.3B$26B
$4.3B$3.2B
$4.2B-
$4.1B-
$4.1B$499M
$4.1B$577M
$4B-
$4B$747M
$4B$475M
$3.7B$981M
$3.7B$263M
$3.7B$983M
$3.6B$409M
$3.6B$788M
$3.6B$9.2B
$3.6B$1.4B
$3.5B-
$3.5B$205M
$3.5B-
$3.4B-
$3.4B$3.6B
$3.4B$800M
$3.4B-
$3.4B$821M
$3.4B$798M
$3.3B$3.4B
$3.2B$1.7B
$3.2B-
$3.1B$437M
$3.1B-
$3.1B$351M
$3B$393M
$3B$791M
$3B$67M
$3B$316M
$2.9B$746M
$2.9B$1.3B
$2.9B-
$2.8B$597M
$2.8B$666M
$2.8B$909M
$2.7B-
$2.7B$587M
$2.7B-
$2.7B$448M
$2.6B$3.1B
$2.6B-
$2.6B$1.2B
$2.5B$490M
$2.5B-
$2.4B-
$2.4B-
$2.4B-
$2.3B-
$2.3B$235M
$2.2B-
$2.2B$316M
$2.1B$155M
$2.1B-
$2.1B-
$2.1B$143M
$2B$299M
$2B-
$2B-
$2B$102M
$2B-
$1.9B$256M
$1.9B-
$1.9B-
$1.9B-
$1.9B$189M
$1.9B$3M
$1.9B-
$1.8B$116M
$1.8B$339M
$1.8B$251M
$1.8B$174M
$1.8B$397M
$1.8B-
$1.7B-
$1.7B$273M
$1.7B$228M
$1.7B$18B
$1.7B$169M
$1.7B-
$1.7B$385M
$1.6B-
$1.6B-
$1.6B$303M
$1.6B$232M
$1.6B-
$1.6B$3.6B
$1.6B-
$1.5B$959M
$1.5B-
$1.5B$239M
$1.5B$254M
$1.4B$218M
$1.4B-
$1.4B-
$1.4B-
$1.4B-
$1.4B-
$1.4B-
$1.4B-
$1.4B$230M
$1.3B-
$1.3B-
$1.3B-
$1.3B$292M
$1.3B-
$1.3B$217M
$1.3B-
$1.2B$599M
$1.2B$371M
$1.2B-
$1.2B$166M
$1.2B-
$1.2B-
$1.2B$255M
$1.1B-
$1.1B-
$1.1B$626M
$1.1B-
$1.1B-
$1.1B$118M
$1.1B$236M
$1.1B-
$1.1B$632M
$1.1B-
$1.1B-
$1.1B-
$1.1B$292M
$1.1B$250M
$1B$218M
$1B$799M
$1B-
$1B-
$1B-
$1B$124M
$996M$27M
$985M$53M
$972M-
$972M-
$964M-
$963M-
$956M$35M
$954M-
$953M($462M)
$933M-
$930M-
$917M-
$913M-
$900M$261M
$892M$65M
$881M$299M
$877M-
$873M$372M
$867M-
$864M$204M
$854M-
$840M-
$823M$294M
$823M$546M
$813M-
$804M-
$790M-
$783M-
$783M$106M
$777M-
$776M-
$774M$167M
$767M-
$767M-
$756M-
$754M-
$748M-
$745M-
$739M$150M
$738M-
$732M$252M
$730M-
$727M$195M
$727M-
$719M-
$713M-
$713M$8.4B
$713M-
$710M$389M
$706M-
$703M-
$701M-
$691M-
$691M$85M
$689M-
$685M-
$685M$61M
$682M-
$681M$196M
$674M-
$672M$292M
$663M-
$663M-
$655M-
$649M$207M
$645M-
$645M-
$639M-
$638M$94M
$627M-
$624M-
$621M$101M
$620M-
$613M-
$609M$90M
$608M-
$597M-
$584M-
$577M$66M
$573M-
$570M$40M
$563M-
$557M$125M
$554M-
$549M-
$546M-
$545M$80M
$541M-
$540M-
$535M$128M
$532M-
$524M$150M
$522M-
$521M$281M
$519M-
$506M$53M
$505M-
$504M$9M
$495M-
$488M-
$485M$175M
$482M-
$480M-
$480M-
$475M-
$473M-
$471M$309M
$465M-
$462M-
$461M-
$459M$73M
$454M$107M
$454M-
$453M$198M
$448M-
$447M$114M
$445M$98M
$437M$44M
$433M-
$427M$154M
$415M-
$414M-
$410M$64M
$408M$34M
$405M$158M
$404M-
$402M-
$400M-
$398M-
$398M$18M
$397M$480M
$396M-
$395M-
$393M-
$385M$75M
$385M-
$384M-
$383M-
$383M-
$382M-
$380M-
$375M-
$374M-
$369M-
$367M-
$364M$262M
$361M$169M
$360M-
$359M-
$359M$74M
$359M-
$355M$81M
$353M-
$352M-
$351M-
$349M-
$348M-
$348M-
$347M$88M
$346M-
$342M$641M
$337M-
$318M-
$317M$95M
$314M-
$311M-
$304M$2M
$303M-
$302M$76M
$291M-
$291M-
$291M-
$285M-
$283M-
$282M-
$280M-
$279M-
$278M$61M
$276M-
$273M$68M
$273M-
$269M-
$264M-
$260M-
$259M-
$258M-
$258M-
$255M-
$251M-
$250M-
$249M-
$240M-
$238M-
$237M-
$237M-
$235M-
$235M-
$230M-
$230M$72M
$228M-
$225M$61M
$225M$140M
$223M-
$217M-
$216M-
$213M$186M
$213M-
$212M-
$210M-
$208M-
$206M-
$206M$52M
$205M-
$202M-
$200M-
$200M-
$199M-
$196M-
$196M-
$196M-
$193M$154M
$193M-
$192M-
$192M-
$191M-
$191M-
$191M-
$190M-
$189M-
$186M-
$185M-
$182M$102M
$181M$185M
$179M-
$178M-
$171M-
$170M$25M
$169M-
$165M$43M
$160M$29M
$157M-
$154M-
$154M$21M
$154M-
$152M-
$150M-
$149M-
$147M-
$146M-
$146M-
$144M-
$143M-
$143M$53M
$142M-
$141M$68M
$140M-
$140M-
$140M-
$139M-
$138M-
$136M-
$136M-
$134M-
$134M-
$134M-
$133M$37M
$132M-
$130M-
$130M-
$129M-
$128M$17M
$125M-
$123M-
$122M-
$121M-
$121M-
$120M-
$119M-
$118M-
$117M-
$113M-
$112M-
$111M-
$110M-
$110M-
$110M$51M
$109M-
$109M-
$108M-
$108M-
$107M-
$107M-
$106M$10M
$106M-
$100M-
$100M-
$100M-
$99M-
$98M-
$98M-
$98M-
$98M-
$97M-
$96M-
$96M-
$93M-
$91M-
$91M-
$91M$175M
$90M-
$89M-
$86M-
$86M-
$85M-
$85M-
$84M-
$83M$8M
$82M$24M
$80M-
$80M-
$78M-
$78M$125M
$78M$41M
$76M-
$76M-
$75M-
$75M-
$74M-
$74M-
$74M$24M
$73M-
$73M-
$72M$45M
$72M-
$69M$32M
$69M-
$68M-
$68M-
$68M-
$67M-
$67M-
$66M$23M
$66M-
$65M-
$64M-
$64M-
$64M-
$63M-
$63M-
$60M-
$58M-
$56M-
$56M-
$56M-
$55M-
$54M-
$53M-
$53M-
$52M$107M
$52M-
$51M-
$51M$36M
$51M-
$50M-
$49M-
$47M-
$47M-
$47M-
$47M-
$46M-
$46M$7M
$46M-
$46M-
$46M-
$43M-
$43M-
$43M$53M
$42M-
$42M-
$42M-
$42M-
$41M-
$41M-
$41M-
$40M-
$40M-
$40M-
$39M-
$38M-
$38M-
$38M-
$38M-
$37M-
$37M-
$37M-
$36M-
$35M$18M
$34M-
$34M-
$34M-
$33M-
$33M-
$30M-
$30M-
$29M-
$29M-
$29M-
$28M-
$28M-
$28M-
$28M-
$27M-
$27M-
$26M-
$26M-
$26M-
$26M$136M
$26M-
$25M-
$24M-
$23M-
$23M-
$22M-
$22M-
$22M-
$22M-
$22M-
$22M-
$21M-
$21M-
$21M-
$21M-
$21M-
$21M-
$20M-
$20M-
$20M-
$20M-
$19M-
$18M-
$18M-
$18M-
$18M-
$18M-
$18M-
$18M-
$17M-
$17M-
$17M$199M
$17M-
$16M-
$16M-
$16M-
$16M-
$16M-
$16M-
$15M-
$15M-
$15M-
$14M-
$14M-
$14M-
$14M$17M
$13M-
$13M-
$13M-
$13M-
$13M-
$13M-
$13M-
$12M-
$12M-
$11M-
$11M-
$11M-
$11M-
$11M-
$11M-
$10M-
$10M-
$10M-
$10M-
$10M-
$10M-
$10M-
$9M$20M
$9M-
$9M-
$9M-
$9M-
$9M-
$9M-
$8M-
$8M-
$8M-
$8M-
$8M-
$8M-
$8M-
$7M-
$7M-
$7M-
$7M-
$7M-
$7M-
$7M-
$6M-
$6M-
$5M-
$5M-
$5M$3M
$5M-
$5M-
$5M-
$5M-
$5M-
$4M-
$4M-
$4M-
$4M-
$4M-
$4M-
$3M-
$3M-
$3M-
$3M-
$3M-
$3M-
$3M-
$3M-
$3M-
$2M-
$2M-
$2M-
$2M-
$2M-
$2M-
$2M-
$2M-
$2M-
$2M-
$2M-
$2M-
$1M-
$1M-
$1M-
$1M-
$1M-
$1M-
$952K-
$843K-
$822K-
$690K-
$682K-
$661K-
$648K-
$626K-
$315K-
$247K-
$56K-
$33K-
$22K-
$8K-
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