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Net debt / EBITDA at other companies

Blackstone logo
BlackstoneBX
1.5×-0.1×
The Carlyle Group logo
The Carlyle GroupCG
-1.1×-2.7×
Blackrock logo
BlackrockBLK
0.5×-0.3×
BEN
Franklin ResourcesBEN
3.4×-1.6×
Ameriprise Financial logo
Ameriprise FinancialAMP
-2.5×+0.3×
State Street logo
State StreetSTT
1.5×-0.1×

Other financials

Income statement

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Revenue$5.1B-8.8%
Net income-$1.9B-531%
EPS (diluted)-$3.27-581%

Balance sheet

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Cash & equivalents$23.7B+53.1%
Total debt$14.2B+34.4%
Total equity$20.0B+11.0%
Total assets$467.53B+18.4%

Cash flow

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Operating cash flow$1.6B+60.1%

Valuation

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Market cap$80.08B-17.5%
Enterprise value$70.56B-25.0%
P/E70×+43.0×
P/S2.5×-1.4×

Profitability

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Net margin3.6%-11.0pp

Returns & leverage

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Return on equity6%-15.9pp
Debt / equity0.7×+0.1×

Questions, answered.

What does net debt / EBITDA mean?
How many years of operating earnings it would take to pay off the company's net debt.
How do you interpret net debt / EBITDA?
Lower is safer; lenders often covenant around 3–4×. A negative value means net cash (more cash than debt), a position of strength. Spikes can reflect a temporary EBITDA dip rather than new borrowing.
How does net debt / EBITDA compare across companies?
A standard leverage yardstick across non-financial sectors; covenant thresholds vary by industry cash-flow stability.