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MerlinMRLN -2.12%6 EV-to-EBITDA is -3.12 as of Aug. 05, 2026. GuruFocus rates MRLN with a GF Score™ of 6/100. Among 265 Aerospace & Defense companies, Merlin ranks worse than 377358.11% on this metric.
EV-to-EBITDA is calculated as enterprise value divided by its EBITDA. As of today, Merlin's enterprise value is $279.89 Mil.
Merlin's EBITDA for the trailing twelve months (TTM) ended in Mar. 2026 was $-89.74 Mil. Therefore, Merlin's EV-to-EBITDA for today is -3.12.
The historical rank and industry rank for Merlin's EV-to-EBITDA or its related term are showing as below:
MRLN'
s EV-to-EBITDA Range Over the Past 10 Years
Min: -31.58 Med: -3.52 Max: -1.17
Current: -3.12
During the past 2 years, the highest EV-to-EBITDA of Merlin was -1.17. The lowest was -31.58. And the median was -3.52.
MRLN's EV-to-EBITDA is ranked worse than 100% of 265
companies
in the Aerospace & Defense industry
Industry Median: 22.37
vs MRLN: -3.12
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio to determine the fair market value of a company.
As of today (2026-08-05), Merlin's stock price is $4.15.
Merlin's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 was $-1.270. Therefore, Merlin's PE Ratio (TTM) for today is At Loss.
The "classic" EV-to-EBITDA is much better in capturing debt and net cash than the PE Ratio (TTM).
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Merlin's share price for today is $4.15.
Merlin's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $-1.270.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Study has found that the companies with the lowest EV-to-EBITDA outperforms companies measured as cheap by other ratios such as PE Ratio (TTM).
The historical data trend for Merlin's EV-to-EBITDA can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Merlin EV-to-EBITDA Chart
Merlin Annual Data
Trend
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Dec24
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Merlin Quarterly Data
Dec23
Dec24
Mar25
Sep25
Mar26
EV-to-EBITDA
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MRLN vs ISSC, SPCE, EH: EV-to-EBITDA Comparison
For the Aerospace & Defense subindustry, Merlin's EV-to-EBITDA, along with its competitors' market caps and EV-to-EBITDA data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Merlin EV-to-EBITDA vs Aerospace & Defense Industry
For the Aerospace & Defense industry and Industrials sector, Merlin's EV-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Merlin's EV-to-EBITDA falls into.
Merlin's current Enterprise Value is $279.89 Mil.
Merlin's EBITDA for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $-89.74 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Merlin (MRLN) has a EV-to-EBITDA of -3.12 as of Aug. 05, 2026. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on Merlin. According to the industry distribution chart, Merlin ranks #999999 out of 265 companies in the Aerospace & Defense industry.
Is Merlin's EV-to-EBITDA too high?
Merlin's current EV-to-EBITDA is -3.12. Based on the distribution chart, Merlin ranks #999999 out of 265 companies in the Aerospace & Defense industry, which is in the bottom quartile relative to peers. Overall, Merlin has a GF Score™ of 6/100, reflecting its overall financial health beyond just this single metric.
How does Merlin's EV-to-EBITDA compare to ISSC and SPCE?
According to the Aerospace & Defense industry distribution chart, Merlin ranks #999999 out of 265 companies for EV-to-EBITDA. This places Merlin in the lower half of its industry. The industry median EV-to-EBITDA is 22.37. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-EBITDA for an Aerospace & Defense company?
The median EV-to-EBITDA among Aerospace & Defense companies is 22.37, based on 265 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, EV-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-EBITDA mean?
A high EV-to-EBITDA can signal that a stock is expensive relative to its fundamentals. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on Merlin. For the Aerospace & Defense industry, the median EV-to-EBITDA is 22.37 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Merlin's current EV-to-EBITDA is -3.12. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Merlin stock overvalued right now?
Merlin (MRLN) has a current EV-to-EBITDA of -3.12. The current EV-to-EBITDA is -3.12. Merlin's overall GF Score™ is 6/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-EBITDA calculated?
EV-to-EBITDA is calculated from a company's financial statements. For Merlin (MRLN), the current EV-to-EBITDA is -3.12 as of Aug. 05, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Merlin Inc is focused on developing autonomous flight software for legacy and next-generation airborne systems. Its aircraft-agnostic, AI-based software supports takeoff-to-landing autonomous operations for military and civil aviation programs. The company aims to build an AI-based operating software platform intended to support autonomous flight operations across a range of aircraft types.
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