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Public Comps and Valuation Multiples for Investment Banking

Benchmark revenue and EBITDA valuation multiples for public comps like
JPMorgan Chase, Bank of America, HSBC, Morgan Stanley and Goldman Sachs.

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Investment Banking

CompanyMarket CapEnterprise ValueLTM RevenueEV/LTM RevenueEV/LTM EBITDA
$807B$1.0T$185B5.6x—
$357B$749B$115B6.5x—
$304B$262B$71B3.7x—
$265B$373B$72B5.2x—
$258B$614B$59B10.3x—
$255B$464B$85B5.5x—
$236B$643B$49B13.0x—
$196B$282B$38B7.4x—
$195B$583B$86B6.7x—
$172B$470B$73B6.4x—
$165B$316B$41B7.7x—
$125B$364B$49B7.5x—
$124B$218B$44B4.9x—
$121B$234B$29B8.0x—
$116B$287B$61B4.7x—
$113B$135B$11B12.7x—
$103B$193B$14B13.4x—
$103B$305B$27B11.3x—
$96B$151B$33B4.6x—
$94B$200B$22B9.2x—
$93B$331B$28B11.9x—
$87B$144B$24B6.1x—
$85B$170B$29B5.8x—
$82B$121B$20B6.0x—
$80B$173B$40B4.3x—
$79B$274B$28B10.0x—
$79B$136B$19B7.0x—
$76B$107B$26B4.1x—
$64B$212B$38B5.6x—
$63B$137B$21B6.6x—
$62B$44B$32B1.4x—
$61B$209B$33B6.3x—
$56B$84B$11B7.6x14.4x
$54B$78B$13B6.0x—
$52B$73B$21B3.5x—
$45B$104B$9B11.4x—
$43B$43B$15B2.9x—
$36B$24B$14B1.7x—
$31B$42B$9B4.7x—
$26B$61B$6B10.0x23.5x
$23B$141B$5B25.9x—
$23B$35B$5B7.1x—
$22B$10B$13B0.8x2.0x
$22B$49B$4B12.2x—
$22B$55B$5B10.6x22.2x
$20B$45B$4B12.8x27.5x
$20B($3B)$4B(0.8x)(2.0x)
$19B$22B$3B8.5x—
$18B$40B$4B10.5x—
$17B$39B$4B10.0x—
$17B$X.XB$4BX.XxX.Xx
$15B$X.XB$2BX.XxX.Xx
$15B$X.XB$10BX.XxX.Xx
$14B$X.XB$4BX.XxX.Xx
$14B$X.XB$4BX.XxX.Xx
$12B$X.XB$4BX.XxX.Xx
$12B$X.XB$6BX.XxX.Xx
$12B$X.XB$4BX.XxX.Xx
$11B$X.XB$3BX.XxX.Xx
$11B$X.XB$3BX.XxX.Xx
$11B$X.XB$3BX.XxX.Xx
$10B$X.XB$2BX.XxX.Xx
$9B$X.XB$8BX.XxX.Xx
$9B$X.XB$2BX.XxX.Xx
$9B$X.XB$2BX.XxX.Xx
$8B$X.XB—X.XxX.Xx
$8B$X.XB$2BX.XxX.Xx
$8B$X.XB$1BX.XxX.Xx
$7B$X.XB—X.XxX.Xx
$7B$X.XB—X.XxX.Xx
$7B$X.XB$2BX.XxX.Xx
$7B$X.XB$1BX.XxX.Xx
$7B$X.XB$2BX.XxX.Xx
$7B$X.XB$1BX.XxX.Xx
$7B$X.XB—X.XxX.Xx
$6B$X.XB$2BX.XxX.Xx
$6B$X.XB—X.XxX.Xx
$6B$X.XB—X.XxX.Xx
$6B$X.XB$481MX.XxX.Xx
$5B$X.XB$333MX.XxX.Xx
$5B$X.XB$926MX.XxX.Xx
$5B$X.XB$2BX.XxX.Xx
$5B$X.XB$3BX.XxX.Xx
$5B$X.XB$774MX.XxX.Xx
$5B$X.XB—X.XxX.Xx
$5B$X.XB$1BX.XxX.Xx
$5B$X.XB$3BX.XxX.Xx
$5B$X.XB$1BX.XxX.Xx
$4B$X.XB$2BX.XxX.Xx
$4B$X.XB$483MX.XxX.Xx
$4B$X.XB—X.XxX.Xx
$4B$X.XB$200MX.XxX.Xx
$4B$X.XB$2BX.XxX.Xx
$3B$X.XB—X.XxX.Xx
$3B$X.XB$744MX.XxX.Xx
$3B$X.XB$467MX.XxX.Xx
$3B$X.XB—X.XxX.Xx
$2B$X.XB—X.XxX.Xx
$2B$X.XB—X.XxX.Xx
$2B$X.XB—X.XxX.Xx
$2B$X.XB—X.XxX.Xx
$2B$X.XB$445MX.XxX.Xx
$2B$X.XB—X.XxX.Xx
$2B$X.XB—X.XxX.Xx
$1B$X.XB$304MX.XxX.Xx
$1B$X.XB—X.XxX.Xx
$1B$X.XB$602MX.XxX.Xx
$1B$X.XB—X.XxX.Xx
$1B$X.XB$799MX.XxX.Xx
$1B$X.XB—X.XxX.Xx
$1B$X.XB—X.XxX.Xx
$1B$X.XB$173MX.XxX.Xx
$997M$X.XB—X.XxX.Xx
$961M$X.XB$2BX.XxX.Xx
$925M$X.XB—X.XxX.Xx
$914M$X.XB—X.XxX.Xx
$904M$X.XB$2BX.XxX.Xx
$823M$X.XB$192MX.XxX.Xx
$806M$X.XB—X.XxX.Xx
$724M$X.XB$458MX.XxX.Xx
$615M$X.XB—X.XxX.Xx
$461M$X.XB—X.XxX.Xx
$410M$X.XB—X.XxX.Xx
$396M$X.XB—X.XxX.Xx
$390M$X.XB$361MX.XxX.Xx
$343M$X.XB$126MX.XxX.Xx
$291M$X.XB—X.XxX.Xx
$257M$X.XB—X.XxX.Xx
$214M$X.XB—X.XxX.Xx
$117M$X.XB—X.XxX.Xx
$108M$X.XB—X.XxX.Xx
$92M$X.XB—X.XxX.Xx
$80M$X.XB—X.XxX.Xx
$50M$X.XB—X.XxX.Xx
$43M$X.XB—X.XxX.Xx
$42M$X.XB—X.XxX.Xx
$37M$X.XB—X.XxX.Xx
$19M$X.XB—X.XxX.Xx
$19M$X.XB—X.XxX.Xx
$18M$X.XB—X.XxX.Xx
$14M$X.XB—X.XxX.Xx
$9M$X.XB—X.XxX.Xx
$8M$X.XB$1MX.XxX.Xx
$5M$X.XB—X.XxX.Xx
$2M$X.XB—X.XxX.Xx
$2M$X.XB—X.XxX.Xx
$2M$X.XB—X.XxX.Xx
—$X.XB$104MX.XxX.Xx
—$X.XB—X.XxX.Xx
—$X.XB$7BX.XxX.Xx

Financial data powered by FactSet and Morningstar. Valuation multiples as of last 12 months. For more data, start your free trial here.

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