S&P 500 Aggregate EBITDA Margin (TTM)

Live value temporarily unavailable.

Source: Company filings (aggregated)

Data updated daily

What it measures

The S&P 500 EBITDA margin measures aggregate EBITDA (earnings before interest, taxes, depreciation, and amortization) as a percentage of aggregate revenue on a trailing-twelve-month basis. Adding back non-cash depreciation and amortization provides a rough proxy for operating cash generation before capital investment. A reading of 20% means the index generates $20 of pre-D&A operating cash flow per $100 of revenue.

Why it matters

EBITDA margin strips out the effect of depreciation schedules and amortization of acquired intangibles, making it more comparable across companies with different capital intensities or acquisition histories. It is commonly used in credit analysis and leveraged buyout modeling as a proxy for operating cash available to service debt. At the index level, EBITDA margin trends are useful for separating genuine operating improvement from changes in accounting-driven charges. Because it excludes capex, it can overstate the free cash generation of capital-intensive industries; pairing it with the capex-to-revenue ratio provides a more complete picture.

How it is calculated

EBITDA Margin (TTM) = Σ TTM EBITDA ÷ Σ TTM Revenue × 100

LENSE computes the S&P 500 EBITDA margin as the ratio of aggregate TTM EBITDA to aggregate TTM revenue — not a simple average of per-company margins. EBITDA per constituent is computed as operating income plus depreciation and amortization from as-reported quarterly filings; TTM figures are constructed by summing the four most recently reported quarters. Constituents with zero or negative revenue are excluded. Index constituency is resolved point-in-time via point-in-time index constituency.

Recent (monthly)

Recent data unavailable.

Data source: Company filings (aggregated). Computed and published by LENSE Analytics.