Equity Multiple Calculator

About this calculator

The equity multiple, also called MOIC (multiple on invested capital), divides total distributions received by the total equity invested — a 2.0x multiple simply means an investor got back twice what they put in, over whatever period that took. Unlike IRR, equity multiple ignores the timing of cash flows entirely, which makes it a simple absolute measure of how much money was made, but a poor one for comparing deals that returned capital over very different time horizons.

Real estate syndicators and private equity sponsors report equity multiple alongside IRR precisely because the two metrics correct for each other's blind spots: a deal can post an impressive IRR by returning capital quickly while producing a modest equity multiple, or vice versa, and investors generally want to see both before committing capital to a fund or a property deal.

This calculator takes your total distributions received and the equity you invested and returns the equity multiple, so you can see how many times over you got your money back regardless of how long the investment took.