Independent finance learning
EV/EBITDA Calculator
Calculate an enterprise-value-to-EBITDA multiple, with a worked example and guidance on comparable earnings.
Try the numbers
Formula and inputs
EV/EBITDA = enterprise value ÷ annual EBITDA
Use matching currency units and positive values for a conventional multiple. Identify whether EBITDA is historical, forecast or adjusted.
Worked example
£2,000,000 of enterprise value divided by £200,000 of annual EBITDA gives 10×.
Assumptions and limitations
This is not a fair-value estimate. Business risk, growth, reinvestment and EBITDA adjustments affect comparability. EBITDA is not cash flow.
Understand the result
What is EBITDA? Meaning, formula and a worked exampleSources and further reading
Sources checked 4 October 2026. Worked examples are fictional HC teaching illustrations.