Enterprise Value to EBITDA (EV/EBITDA)
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Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)
Paramount Global, EBITDA calculation
US$ in millions
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
- Net Earnings Attributable to Paramount
- The net earnings showed a significant increase from 2018 to 2019, rising from 1,960 million USD to 3,308 million USD. However, there was a decline in 2020 to 2,422 million USD, followed by a strong recovery in 2021, reaching a peak of 4,543 million USD. In 2022, net earnings dropped sharply to 1,104 million USD, indicating a notable decrease compared to the previous year and the lowest value in the five-year period except for 2018.
- Earnings Before Tax (EBT)
- EBT mirrored a similar trend as net earnings, increasing from 2,233 million USD in 2018 to 3,292 million USD in 2019, then slightly decreasing to 3,119 million USD in 2020. A considerable rise occurred in 2021, peaking at 5,115 million USD. A significant decline followed in 2022, dropping to 1,062 million USD, the lowest point in the timeframe and reflecting a considerable contraction in earnings before tax.
- Earnings Before Interest and Tax (EBIT)
- EBIT exhibited growth from 2,700 million USD in 2018 to 4,254 million USD in 2019 and stabilized somewhat in 2020 at 4,150 million USD. A robust increase was observed in 2021, surging to 6,101 million USD. However, this was followed by a substantial drop in 2022 to 1,993 million USD, more than halving from the previous year's peak and indicating a marked reduction in operating profitability.
- Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA)
- EBITDA increased steadily from 2,923 million USD in 2018 to 4,697 million USD in 2019, with a slight decrease to 4,580 million USD in 2020. A peak was achieved in 2021 at 6,491 million USD, before dropping sharply to 2,398 million USD in 2022. This pattern suggests a significant fluctuation in the company's earnings performance before accounting for non-cash expenses, with 2022 representing a period of considerable decline.
Enterprise Value to EBITDA Ratio, Current
Paramount Global, current EV/EBITDA calculation, comparison to benchmarks
| Selected Financial Data (US$ in millions) | |
| Enterprise value (EV) | |
| Earnings before interest, tax, depreciation and amortization (EBITDA) | |
| Valuation Ratio | |
| EV/EBITDA | |
| Benchmarks | |
| EV/EBITDA, Competitors1 | |
| Alphabet Inc. | |
| Comcast Corp. | |
| Meta Platforms Inc. | |
| Netflix Inc. | |
| Walt Disney Co. | |
| EV/EBITDA, Sector | |
| Media & Entertainment | |
| EV/EBITDA, Industry | |
| Communication Services | |
Based on: 10-K (reporting date: 2022-12-31).
1 Click competitor name to see calculations.
If the company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.
Otherwise, if the company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.
Enterprise Value to EBITDA Ratio, Historical
Paramount Global, historical EV/EBITDA calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Enterprise value (EV)1 | ||||||
| Earnings before interest, tax, depreciation and amortization (EBITDA)2 | ||||||
| Valuation Ratio | ||||||
| EV/EBITDA3 | ||||||
| Benchmarks | ||||||
| EV/EBITDA, Competitors4 | ||||||
| Alphabet Inc. | ||||||
| Comcast Corp. | ||||||
| Meta Platforms Inc. | ||||||
| Netflix Inc. | ||||||
| Walt Disney Co. | ||||||
| EV/EBITDA, Sector | ||||||
| Media & Entertainment | ||||||
| EV/EBITDA, Industry | ||||||
| Communication Services | ||||||
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
3 2022 Calculation
EV/EBITDA = EV ÷ EBITDA
= ÷ =
4 Click competitor name to see calculations.
- Enterprise Value (EV)
- The enterprise value exhibits notable volatility over the analyzed period. Beginning at $28,717 million in 2018, it increased substantially to $36,145 million in 2019, followed by a sharp rise to $58,080 million in 2020. Subsequently, the value declined markedly in 2021 to $35,353 million, nearing its initial level before decreasing further to $28,818 million in 2022. This pattern suggests significant fluctuations in market valuation or capital structure adjustments during these years.
- Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA)
- EBITDA shows a generally positive trend from 2018 through 2021, increasing from $2,923 million to a peak of $6,491 million. However, in 2022, there is a pronounced decline to $2,398 million, representing approximately a 63% drop from the previous year. This decline might indicate operational challenges or reduced profitability in the latest period following a period of growth.
- EV/EBITDA Ratio
- The EV/EBITDA ratio reflects fluctuations consistent with the movements observed in both EV and EBITDA. Starting at 9.82 in 2018, the ratio decreased to 7.7 in 2019, indicating improved EBITDA relative to enterprise value. It then surged sharply to 12.68 in 2020, followed by a substantial drop to 5.45 in 2021, the lowest in the period analyzed. The ratio rose again to 12.02 in 2022, closely matching the 2020 level. This volatility suggests varying market perceptions of the company's valuation relative to earnings before interest, tax, depreciation, and amortization, with potential implications for investment attractiveness and financial stability.