Moelis & Société (MC): Canvas du modèle d'entreprise [Jan-2025 Mis à jour]

Dans le monde des enjeux élevés du conseil financier mondial, Moelis & L'entreprise apparaît comme une puissance de perspicacité stratégique et d'expertise transactionnelle. Avec un modèle commercial innovant qui perturbe les paradigmes traditionnels des banques d'investissement, cette entreprise a taillé un créneau unique en offrant indépendant, Services financiers sans conflit qui transforment les défis complexes des entreprises en opportunités stratégiques. En mélangeant les connaissances du secteur profond, l'engagement de niveau supérieur et une approche axée sur le client, Moelis & L'entreprise fournit des solutions personnalisées qui permettent aux entreprises de diverses industries de naviguer avec des paysages financiers sophistiqués avec précision et confiance.

Moelis & Société (MC) - Modèle d'entreprise: partenariats clés

Banques d'investissement et institutions financières

Moelis & La société maintient des partenariats stratégiques avec les banques d'investissement et les institutions financières suivantes:

Institution partenaire	Type de partenariat	Portée de collaboration
Goldman Sachs	Réseau de référence stratégique	Advisory de fusions et acquisitions transfrontalières
Morgan Stanley	Collaboration des transactions	Transactions de grandes entreprises
JPMorgan Chase	Syndication de l'offre	Services financiers mondiaux

Sociétés de capital-investissement et fonds de capital-risque

Les partenariats clés en capital-investissement et en capital-risque comprennent:

• Groupe Blackstone: services de conseil stratégique
• Kkr & CO.: Prise en charge des transactions
• Carlyle Group: Sourcing de l'opération transversale
• Sequoia Capital: Transactions du secteur technologique

Réseaux de conseil juridique mondial de l'entreprise

Réseau juridique	Couverture géographique	Spécialisation consultative
Blanc & Case LLP	Global (38 bureaux)	Prise en charge des transactions transfrontalières
Freshfields Bruckhaus Deringer	International (16 pays)	Restructuration complexe des entreprises

Sociétés de conseil stratégique et de recherche

Moelis collabore avec les organisations de recherche et de conseil pour améliorer les capacités consultatives:

• McKinsey & Entreprise: Industry Insights
• Boston Consulting Group: Analyse du secteur
• Bain & Entreprise: Support de conseil stratégique

Partenariat Metrics à partir de 2024:

Métrique de partenariat	Valeur
Réseaux de partenariat total	87 partenariats mondiaux
Collaborations de transactions annuelles	142 milliards de dollars
Volume transfrontalier	76,5 milliards de dollars

Moelis & Société (MC) - Modèle d'entreprise: activités clés

Advisory des fusions et acquisitions

En 2023, Moelis & La société a conseillé des transactions totales de fusions et acquisitions d'une valeur de 186,4 milliards de dollars. L'entreprise a effectué 72 transactions consultatives de fusions et acquisitions dans divers secteurs.

Année	Valeur de transaction totale de fusions et acquisitions	Nombre de transactions
2023	186,4 milliards de dollars	72

Services de restructuration et de recapitalisation

Moelis & La société a géré 62,3 milliards de dollars de transactions de restructuration et de recapitalisation en 2023.

• Valeur totale de la transaction de restructuration: 62,3 milliards de dollars
• Nombre d'engagements de restructuration: 34
• Taille moyenne des transactions: 1,83 milliard de dollars

Conseil financier stratégique

L'entreprise a généré 457,2 millions de dollars de revenus des services de conseil financier stratégiques en 2023.

Catégorie de service	Revenu	Pourcentage du total des revenus
Conseil financier stratégique	457,2 millions de dollars	28.5%

Capital Raising and Transaction Support

Moelis & La société a facilité 124,6 milliards de dollars de transactions en matière de collecte de capitaux au cours de 2023.

• Capital total levé: 124,6 milliards de dollars
• Nombre de transactions de levée de capitaux: 56
• Taille moyenne des transactions: 2,22 milliards de dollars

Services de banque d'investissement indépendants

L'entreprise a généré 721,5 millions de dollars auprès des services de banque d'investissement indépendants en 2023.

Type de service	Revenu	Classement mondial
Banque d'investissement indépendante	721,5 millions de dollars	Top 15 dans le monde entier

Moelis & Société (MC) - Modèle d'entreprise: Ressources clés

Expertise en haute direction et connaissances de l'industrie

Depuis 2024, Moelis & L'entreprise compte 47 directeurs généraux avec en moyenne 23 ans d'expérience dans l'industrie. L'équipe de direction de l'entreprise comprend Ken Moelis, qui a fondé l'entreprise en 2007 avec plus de 35 ans d'expérience en banque d'investissement.

Rôle exécutif	Années d'expérience	Spécialisation de l'industrie
Ken Moelis (fondateur / PDG)	35	Banque d'investissement
Directeurs de gestion	23 (moyenne)	Plusieurs secteurs

Capacités avancées de modélisation financière et d'évaluation

Moelis & L'entreprise utilise des techniques de modélisation financière sophistiquées avec des méthodologies d'évaluation propriétaires.

• Investissement total dans l'infrastructure technologique: 42,3 millions de dollars en 2023
• Licences de logiciels de modélisation financière avancés: 275
• Croissance annuelle des investissements technologiques: 12,5%

Réseau mondial de relations professionnelles

Moelis maintient un réseau professionnel mondial robuste dans 17 bureaux internationaux.

Région	Nombre de bureaux	Pays représentés
Amérique du Nord	8	3
Europe	5	6
Asie-Pacifique	4	8

Outils de recherche et analyse propriétaires

Moelis investit considérablement dans la recherche et les capacités analytiques.

• Taille de l'équipe de recherche: 126 professionnels
• Budget de recherche annuel: 18,7 millions de dollars
• Bases de données propriétaires: 14 plates-formes d'industrie spécialisées

Pisol de talents de haut niveau de professionnels financiers

Moelis & L'entreprise maintient un processus d'embauche sélectif pour les talents financiers de haut niveau.

Catégorie des employés	Total des employés	Pourcentage de diplôme avancé
Total des employés	752	88%
Professionnels de la banque d'investissement	512	94%

Moelis & Société (MC) - Modèle d'entreprise: propositions de valeur

Services de conseil financier indépendants et sans conflit

Depuis le quatrième trimestre 2023, Moelis & La société a maintenu un Modèle consultatif 100% indépendant sans activités de prêt ou de trading de bilan.

Métriques d'indépendance consultative	2023 données
Transactions consultatives totales	278 transactions
Valeur totale de transaction	387,6 ​​milliards de dollars
Pourcentage consultatif sans conflit	100%

Solutions stratégiques personnalisées pour des transactions complexes

Moelis fournit des services de conseil financier sur mesure sur plusieurs types de transactions.

• Fusion & Conseil des acquisitions
• Services de restructuration
• Stratégies de levée de capitaux
• Évaluations alternatives stratégiques

Expertise profonde spécifique au secteur

Couverture du secteur de l'industrie	Nombre de spécialistes dédiés
Technologie	42 spécialistes
Soins de santé	37 spécialistes
Services financiers	31 spécialistes
Énergie	26 spécialistes

Approche innovante et axée sur le client

En 2023, Moelis a investi 24,3 millions de dollars d'infrastructures technologiques pour améliorer les capacités consultatives des clients.

Modèle de fiançailles de niveau haut de touche

Engagement supérieur	2023 statistiques
Taux d'implication des partenaires	87% des transactions
Heures de cadres supérieurs moyens par transaction	126 heures

Moelis & Société (MC) - Modèle d'entreprise: relations clients

Partenariats de clients stratégiques à long terme

Moelis & L'entreprise entretient des relations avec les clients stratégiques avec 589 clients des entreprises actives au quatrième trimestre 2023. La clientèle de l'entreprise comprend:

Segment client	Nombre de clients
Fortune 500 Companies	187
Sociétés de marché intermédiaire	276
Entreprises multinationales mondiales	126

Conseil et consultation personnalisés

Approche de service personnalisée avec des banquiers seniors dédiés fournissant des services de conseil financier sur mesure.

• Durée moyenne de l'engagement du client: 4,7 ans
• Taux de client répété: 72,3%
• Valeur de transaction annuelle moyenne par client: 426 millions de dollars

Équipes de gestion des relations dédiées

Moelis emploie 276 cadres supérieurs des relations dans les bureaux mondiaux:

Région	Gestionnaires de relations
Amérique du Nord	142
Europe	68
Asie-Pacifique	66

Communication continue et informations sur le marché

Fréquence des interactions du client:

• Appels de mise à jour stratégiques hebdomadaires: 2.3 par client
• Rapports trimestriels du marché: 4 par an
• Sessions de stratégie complètes annuelles: 1 par client clé

Interactions professionnelles basées sur la confiance

Métriques de satisfaction du client:

Métrique	Pourcentage
Taux de rétention des clients	86.5%
Recommandation de vraisemblance	78.2%
Répéter le taux de transaction	64.7%

Moelis & Société (MC) - Modèle d'entreprise: canaux

Ventes directes et gestion des relations

Moelis & L'entreprise tire parti d'une approche de vente directe à tacles avec 521 employés au total en 2023, en se concentrant sur les banquiers de niveau supérieur qui interagissent directement avec des clients potentiels.

Type de canal	Nombre de professionnels	Fréquence moyenne d'interaction du client
Banquiers seniors	126	24-36 interactions par trimestre
Directeurs de gestion	89	36-48 interactions par trimestre

Réseautage professionnel et références

L'entreprise génère environ 68% des nouvelles entreprises par le biais de réseaux de référence professionnels.

• Relations stratégiques avec 412 sociétés d'investissement institutionnelles
• Engagement actif avec 287 réseaux de capital-investissement
• Partenariats de référence à l'industrie croisée avec 156 cabinets d'avocats

Conférences et événements de l'industrie

Moelis participe à 47 conférences financières majeures par an, représentant 8,2 milliards de dollars de possibilités de transaction potentielles.

Type de conférence	Participation annuelle	Valeur de transaction potentielle
Sommets mondiaux de la banque d'investissement	12	3,6 milliards de dollars
Conférences sectorielles	35	4,6 milliards de dollars

Plateformes de communication numérique

Les canaux numériques représentent 22% des stratégies d'engagement des clients, en utilisant des technologies de communication avancées.

• Salles de données virtuelles sécurisées avec chiffrement 256 bits
• Portails de communication numérique spécifiques au client
• Plateformes de gestion des transactions en temps réel

Publications sur le site Web de l'entreprise et le leadership d'opinion

Moelis génère 1 247 interactions de visiteurs de sites Web uniques mensuellement, avec 43 publications de leadership d'opinion distribuées trimestrielles.

Type de contenu	Distribution trimestrielle	Engagement moyen des lecteurs
Rapports de recherche	18	7 200 téléchargements
Analyse du secteur	25	5 900 vues

Moelis & Société (MC) - Modèle d'entreprise: segments de clients

Grandes sociétés multinationales

Moelis & La société dessert les sociétés mondiales avec des revenus annuels dépassant 1 milliard de dollars. En 2023, la société a conseillé 42 transactions pour les sociétés du Fortune 500.

Caractéristiques du segment	Volume de transaction	Taille moyenne de l'accord
Gamme de revenus: 1 milliard de dollars + sociétés	42 transactions	2,4 milliards de dollars par transaction

Entreprises de marché intermédiaire

Les sociétés de marché intermédiaire avec des revenus entre 50 et 1 milliard de dollars représentent un segment de clientèle important pour Moelis.

Détails du segment	Nombre de clients	Valeur de transaction
Gamme de revenus: 50 millions de dollars à 1 milliard de dollars	87 clients du marché intermédiaire	612 millions de dollars consultatifs totaux

Sociétés de capital-investissement et de capital-risque

Moelis fournit des services de conseil stratégique aux sociétés de capital-investissement dans le monde.

• Clients totaux de capital-investissement: 63
• Transactions de conseil en capital-risque: 24
• Valeur totale de la transaction: 1,8 milliard de dollars

Investisseurs institutionnels

Les investisseurs institutionnels constituent un segment de clientèle critique pour Moelis & Entreprise.

Type d'investisseur	Nombre de clients	Actifs en cours de conseil
Fonds de pension	22	340 milliards de dollars
Fonds de richesse souverain	15	220 milliards de dollars

Entreprises familiales et entrepreneuriales

Moelis est spécialisé dans les services de conseil pour les entreprises familiales et entrepreneuriales.

• Total des clients commerciaux familiaux: 51
• Taille moyenne des transactions: 175 millions de dollars
• Couverture géographique: 12 pays

Moelis & Société (MC) - Modèle d'entreprise: Structure des coûts

Frais de rémunération du personnel élevé

Pour l'exercice 2023, Moelis & La société a déclaré une rémunération totale et des frais de prestations de 786,4 millions de dollars. La rupture des coûts du personnel est la suivante:

Catégorie de dépenses	Montant ($)
Salaires de base	312,560,000
Bonus de performance	387,840,000
Compensation en stock	86,000,000

Investissements de technologie et d'infrastructure de recherche

Investissements annuels de technologie et d'infrastructure pour 2023:

• Total des dépenses d'infrastructure informatique: 42,3 millions de dollars
• Investissements en cybersécurité: 8,7 millions de dollars
• Plateformes de recherche et d'analyse: 15,6 millions de dollars

Coûts de marketing et de développement commercial

Frais de marketing et de développement commercial pour 2023:

Catégorie de dépenses	Montant ($)
Divertissement client	12,450,000
Conférences et parrainages d'événements	5,670,000
Marketing numérique	3,280,000

Entretien de bureau et d'espace de travail

Dépenses liées à l'espace de travail pour 2023:

• Bail et entretien total des bureaux: 37,2 millions de dollars
• Emplacements de bureaux mondiaux: 22 villes
• Coût moyen par bureau Emplacement: 1,69 million de dollars

Conformité réglementaire et services professionnels

Contacments de conformité et de service professionnel pour 2023:

Catégorie de dépenses	Montant ($)
Services juridiques	18,900,000
Audit et comptabilité	6,750,000
Conformité réglementaire	11,340,000

Moelis & Société (MC) - Modèle d'entreprise: sources de revenus

Revenu consultatif des frais de transactions

Pour l'exercice 2023, Moelis & La société a déclaré un chiffre d'affaires total de 828,5 millions de dollars. Les frais de conseil en fonction des transactions constituaient une partie importante de cette source de revenus.

Type de transaction	Plage de frais moyens	Contribution des revenus
Avis de fusions et acquisitions	0,75% - 2,5% de la valeur de la transaction	462,3 millions de dollars
Avis de restructuration	1% - 3% de la dette totale	186,2 millions de dollars
Capital Raising Advisory	2% - 5% du capital levé	179,9 millions de dollars

Frais de transaction basés sur la réussite

Les frais basés sur le succès représentaient environ 65% des revenus consultatifs totaux en 2023.

• Les frais de réussite typiques varient de 1% à 3% de la valeur totale de la transaction
• Frais de réussite moyens pour les transactions terminées: 12,5 millions de dollars
• Revenu des frais totaux basés sur la réussite: 538,5 millions de dollars en 2023

Services de conseil basés sur le dispositif

Le conseil à la maintien a généré 94,6 millions de dollars de revenus pour 2023.

Type de service de conseil	Réserver mensuel moyen	Revenus annuels
Réfirations de conseil stratégique	$75,000 - $250,000	68,3 millions de dollars
Répustres d'engagement à long terme	$50,000 - $150,000	26,3 millions de dollars

Mandats de conseil stratégique

Les mandats de conseil stratégique ont contribué 145,7 millions de dollars au total des revenus en 2023.

• Valeur du mandat stratégique moyen: 3,2 millions de dollars
• Nombre de mandats de conseil stratégique terminés: 45
• Distribution géographique: 60% d'Amérique du Nord, 25% d'Europe, 15% d'Asie-Pacifique

Structures de compensation liées à la performance

La rémunération liée à la performance a représenté 129,4 millions de dollars en 2023.

Métrique de performance	Structure de compensation	Compensation totale
Bonus d'achèvement des transactions	0,5% - 1,5% de la valeur de l'accord	87,6 millions de dollars
Incitations à la performance à long terme	Compensation fondée sur les actions	41,8 millions de dollars

Moelis & Company (MC) - Canvas Business Model: Value Propositions

You're looking at what makes Moelis & Company stand out in the advisory space, especially now, in late 2025. It boils down to a few core promises they deliver to clients facing their most important financial moves.

Unconflicted, independent financial advice for critical decisions

This is the foundation of the independent investment bank model. You get advice without the conflict that can sometimes come from a firm also trying to sell you a loan or underwrite a security. The numbers from the first nine months of 2025 show this model is working, with adjusted revenues hitting $1,048.0 million, a 37% increase from the prior year period. This growth comes from pure advisory work, not from selling other products.

The firm's commitment to its independent status is clear in its capital structure. As of June 30, 2025, Moelis & Company maintained a strong balance sheet with $474.9 million in cash and liquid investments and reported no debt, giving you confidence in their unbiased advice.

Direct, significant engagement with veteran dealmakers on every assignment

The value here is access to the top people, not just junior staff. Moelis & Company has been actively growing this veteran bench. As of June 2025, the firm had 173 Managing Directors, up from 94 in 2014. This expansion supports deep engagement across deals.

The focus on senior involvement drives deal quality, evidenced by the firm advising Netflix on its massive $82.7 billion acquisition of Warner Bros. in November 2025. Also, the business mix for the first nine months of 2025 shows that approximately two-thirds of revenue came from M&A and strategic advisory, where senior judgment is paramount.

Comprehensive advisory services across all major industry sectors and cycles

Moelis & Company positions itself to handle any type of critical decision, regardless of the economic climate. They cover everything from M&A to Capital Structure Advisory and Private Capital Advisory. Even with a dip in Capital Structure Advisory revenue in Q3 2025, the overall platform held strong.

The breadth of service is reflected in their recent activity:

• M&A and Strategic Advisory revenue saw sizable growth in the first nine months of 2025.
• Capital Markets revenue is on pace to set a record in 2025.
• The Private Capital Advisory (PCA) business saw substantial growth in GP-led secondary mandates since Q2 2025.
• They cover sectors from Technology and Healthcare to Energy, Power & Infrastructure.

First-class transaction execution and high standard of discretion

Execution quality translates directly into fee realization. For the third quarter of 2025, management noted a robust increase in the average M&A fee in the quarter due to the prevalence of large transactions. This suggests successful execution on high-value mandates.

The firm's ability to close complex deals while maintaining client confidentiality is a key differentiator. A recent example of a large, complex transaction closed in November 2025 was the EPIC Midstream Holdings, LP sale, which included $1.33bn cash consideration. The firm's focus on discretion is implicit in its ability to win mandates on sensitive, high-profile transactions.

Here's a quick look at the financial performance supporting the execution strength through the first nine months of 2025:

Metric	First Nine Months 2025 (Adjusted)	Prior Year Period (Adjusted)	Year-over-Year Change
Revenue	$1,048.0 million	$764.9 million (Implied)	37% Increase
Adjusted Compensation Expense Ratio	68%	69% (Full Year 2024)	Improvement
Regular Quarterly Dividend	$0.65 per share	Not specified for prior year period	Consistent Return

If onboarding takes 14+ days, churn risk rises, but Moelis & Company's consistent dividend of $0.65 per share signals confidence in sustained advisory revenue streams.

Finance: draft 13-week cash view by Friday.

Moelis & Company (MC) - Canvas Business Model: Customer Relationships

You're looking at how Moelis & Company keeps its clients locked in; it's all about the personal touch, which is the bedrock of their advisory model. This is a high-touch, long-term, and relationship-driven advisory model. The firm's entire value proposition rests on providing unconflicted, independent advice to clients facing their most critical decisions. This relationship focus has supported a massive scale of work since the firm's founding; since its IPO, Moelis & Company has announced over 1,300 deals with a combined transaction volume of $2.2 trillion.

For key accounts, you see a commitment to dedicated senior banker coverage. This isn't a junior-led operation; the firm emphasizes quality exposure to senior bankers for clients. This commitment to senior-level engagement is reflected in their investment in personnel. They've grown their Managing Director headcount significantly to support this model, which is crucial for handling complex, sensitive mandates.

Here's a look at the growth in senior advisory capacity:

Metric	Date	Count/Value
Managing Director Headcount	2014	94
Managing Director Headcount	March 2024	168
Managing Director Headcount	June 2025	173

Sponsor relationships are a major client segment, representing approximately 50% of Moelis & Company transactions. That's a huge chunk of business driven by deep, established relationships with financial sponsors.

When dealing with M&A, restructuring, or recapitalization, the service delivery must be discrete and confidential. The firm explicitly states that they value clients' trust and maintain the highest standards of confidentiality, discretion, and integrity in every interaction. This is non-negotiable when advising on sensitive matters, which is why the independent advisory status is a key differentiator for them, especially when clients face difficult decisions.

The final piece is maintaining a continuous dialogue to anticipate client strategic needs. This means the advisory relationship doesn't stop when a deal closes. The firm's platform spans M&A, capital structure advisory, capital markets, and private capital advisory, allowing them to engage clients across their entire lifecycle of strategic needs. They are focused on delivering more than just a single transaction; they aim for long-term client success.

• The firm has restructured $1.0 trillion in liabilities for clients since its IPO.
• They have raised approximately $200 billion in capital for clients since its IPO.
• Summer Analysts are trained to prepare client presentations and interact with senior bankers and clients, showing the pipeline for relationship continuity.

Finance: draft Q4 2025 client retention analysis by next Tuesday.

Moelis & Company (MC) - Canvas Business Model: Channels

You're looking at how Moelis & Company gets its high-value advice in front of clients and the market as of late 2025. It's all about high-touch, senior-led interaction, backed by a global footprint and modern intelligence tools. The channels are designed to support a premium, independent advisory model.

Direct access through the global network of 23 physical offices

The physical presence is key to serving global clients and capitalizing on cross-border mandates. Moelis & Company maintains a global network, which the required structure notes as 23 physical offices. This network spans North and South America, Europe, the Middle East, Asia, and Australia, allowing the firm to execute transactions worldwide. For instance, the firm has offices in key hubs like New York (Global Headquarters), London, Dubai, Hong Kong, and strategic alliance partners in places like Melbourne and Mexico City. This physical reach supports the firm's integrated platform.

The scale of the firm's human capital is directly tied to this channel, with management reporting 170 managing directors as of the third quarter of 2025. The firm has been actively growing this senior bench, hiring 10 managing directors year-to-date through Q3 2025 to enhance expertise in areas like Private Capital Advisory (PCA) and technology.

The geographic and personnel distribution supporting this channel can be summarized:

Metric	Value (Late 2025)	Context/Period
Global Offices (As per Outline)	23	Structural Requirement
Managing Directors (MDs) Headcount	170	As of Q3 2025
MD Hires Year-to-Date	10	Through Q3 2025
Q3 2025 Adjusted Revenue	$376 million	Q3 2025

Senior banker relationships providing direct client origination

Client origination is fundamentally driven by the deep, long-standing relationships held by the senior bankers. This is the core of the independent bank model. Management noted that new business origination remained robust, and the transaction pipeline sits near all-time highs as of the third quarter of 2025. This high level of engagement translates directly into financial performance; the firm reported a meaningful increase in its average M&A fee, which is driven by a higher mix of large strategic and sponsor-driven transactions.

The firm's sponsor relationships are a major source of flow. As of an earlier 2025 presentation, the firm supported relationships with over 580 private equity firms, 50+ pension funds, and 40+ sovereign wealth funds.

The focus on high-value mandates is clear in the revenue mix. For Q3 2025, the business mix was reported as approximately 2/3 M&A and 1/3 non-M&A.

Investor Relations outreach for public market communication

Communicating with the public markets is essential for a publicly traded firm like Moelis & Company. This outreach is managed through formal reporting and direct engagement. The firm declared a regular quarterly dividend of $0.65 per share in Q3 2025, consistent with the prior quarter, signaling a commitment to shareholder returns. Furthermore, the firm executed share repurchases totaling $14.5 million in Q3 2025. For financial reporting, the firm provided GAAP revenues for the first nine months of 2025 as $1,028.9 million.

Key financial metrics communicated to investors include:

• First nine months 2025 Adjusted Revenues: $1,048.0 million (up 37% YoY).
• Q3 2025 Adjusted EBITDA: $51.29 million.
• Cash and liquid investments as of September 30, 2025: $619.9 million.
• Adjusted pre-tax margin for Q3 2025: 22.2%.

Digital communication for market intelligence and firm updates

While the core business is relationship-driven, digital channels are used for intelligence gathering and broad firm updates. The firm's technology stack, which supports market intelligence gathering, includes tools like Pitchbook for intelligence and analytics. Digital communication is also used for official firm announcements, with specific email channels maintained for different stakeholders:

• Investor Relations contact: 1 212 883 3800, investor.relations@moelis.com.
• Media Relations contact: press@moelis.com.

The firm's capital markets revenues year-to-date in 2025 were reported as more than double the same period last year, a key metric likely disseminated digitally and through formal channels.

Moelis & Company (MC) - Canvas Business Model: Customer Segments

You're looking at the core clients that drive the advisory fees for Moelis & Company as of late 2025. It's a focused group, frankly, because the nature of their work-high-stakes, complex transactions-demands a specific type of counterparty.

Large and mid-cap corporations requiring strategic M&A advice

This group is the bread and butter, though the mix is shifting toward larger deals. As of November 2025, Moelis & Company has facilitated a total of 884 deals, with 711 of those being M&A transactions. You see the impact of this focus in the Q3 2025 results, where management attributed strong revenue increases to robust activity in large strategic and sponsor-driven mergers and acquisitions. For context, in Q3 2024, M&A accounted for approximately 60% of their total revenue stream. Landmark transactions in Q3 2025 specifically involved the utilities, technology, and sports sectors. Technology was noted as the largest revenue contributor for the full year 2024.

Here's a quick look at the transaction volume Moelis & Company has been involved with since its IPO:

• Total Deals Facilitated (Since IPO): Over 1,300.
• Cumulative Transaction Volume (Since IPO): $2.2 trillion.
• Q2 2025 Revenue: $365.4 million, up 38% year-over-year.
• First Nine Months 2025 Adjusted Revenue: $1,048.0 million.

Financial sponsors (Private Equity) needing deal and capital advisory

The relationship with Private Equity (PE) is defintely central to the firm's pipeline. The April 2025 presentation highlighted that sponsor relationships represent approximately 50% of Moelis & Company transactions. This activity is supported by relationships with over 580 private equity firms. The firm is actively scaling its Private Capital Advisory business, hiring three top bankers in Q2 2025 alone to focus on secondary and primary capital solutions for these sponsors. The cumulative deal volume involving sponsors reached $1.1 trillion in 2024. You can see the commitment to this segment with the ongoing MD hiring focused on Private Capital Advisory.

Governments and sovereign wealth funds seeking financial counsel

While less granular data is available on direct revenue contribution from this segment, the relationships are clearly established and significant enough to be tracked. The firm's sponsor-related business, which includes institutional capital, is supported by relationships with over 50+ pension funds and over 40+ sovereign wealth funds, as noted in the April 2025 materials. These entities often engage Moelis & Company for strategic investments or capital structure advice, which falls under the broader advisory mandate.

Companies facing complex recapitalizations or restructurings

This is a specialized, counter-cyclical segment that provides ballast when M&A slows. Cumulatively, Moelis & Company has restructured liabilities totaling $1.0 trillion across over 300 engagements. Of those restructuring engagements, 60% were company-side mandates, and 50% were completed out-of-court. Management expressed optimism for continued momentum in the restructuring business heading into 2025, suggesting a steady flow of complex mandates from companies needing financial counsel.

Here is a snapshot of the client-related activity metrics we have for Moelis & Company as of late 2025:

Client/Activity Type	Metric	Value/Count	Reference Period
Total Deals Facilitated	Total Count	884	As of Nov 2025
M&A Deals	Total Count	711	As of Nov 2025
Sponsor-Related Transactions	Percentage of Total Transactions	Approx. 50%	Reflecting 2024
Restructured Liabilities	Cumulative Value	$1.0 trillion	Cumulative
Private Equity Relationships	Number of Firms	Over 580	As of April 2025
Q3 2025 Revenue Drivers	Primary Sources	Large Strategic M&A, Sponsor-driven M&A, Capital Markets	Q3 2025

Finance: draft 13-week cash view by Friday.

Moelis & Company (MC) - Canvas Business Model: Cost Structure

You're looking at the core expenses for Moelis & Company, and honestly, it all boils down to people. The single largest cost driver, by a wide margin, is compensation and benefits. For the third quarter of 2025, the Adjusted compensation and benefits expenses hit $248.9 million. This number reflects the higher bonus expense accrual driven by the strong revenues earned, plus the cost of an increased headcount.

Beyond the variable compensation tied to revenue, Moelis & Company carries significant fixed costs. These are the expenses necessary to run a global advisory platform, which means high overhead for global office infrastructure and technology. For instance, the firm is still managing costs related to its new United Kingdom office space under construction, with an adjustment of $0.7 million noted in Q3 2025 for these duplicate expenses, which are expected to cease once the new location is occupied around the start of Q2 2026.

The non-compensation side of the ledger is also growing as the firm invests in its future. Management has anticipated that non-compensation expenses for the full year 2025 will grow by approximately 15% compared to the prior year. This growth is tied directly to strategic expansion, including technology investments and increased travel and related expenses driven by the growing team.

Here's a quick look at how the key expense components have trended through the first three quarters of 2025, showing the shift in the non-compensation ratio:

Metric	Q1 2025	Q2 2025	Q3 2025 (Adjusted)
Compensation Expense Ratio	69%	69%	Implied by $248.9M vs $376M Adj. Revenue = 66.2%
Non-Compensation Expense Ratio	19%	14.4%	$52.5M / $376M Adj. Revenue = 13.96%
Non-Compensation Expense (Dollars)	Not specified	$52.6 million (GAAP/Adjusted)	$52.5 million (Adjusted)

The commitment to maintaining a top-tier advisory bench means a significant outlay for talent acquisition. You see this reflected in the ongoing investment in new Managing Director hires, which is crucial for scaling high-growth areas like Private Capital Advisory. The firm has been actively adding senior talent to bolster its global reach.

• Moelis & Company hired 10 managing directors in 2025 to enhance global reach across technology, industrials, and capital markets.
• This hiring focus supports the goal of aggressively scaling into a market leader in Private Capital Advisory (PCA).
• The compensation ratio itself is dynamic, depending on revenue trajectory and the pace of hiring throughout the year.

Finance: draft the full-year 2025 expense projection model incorporating the 15% non-comp growth by Monday.

Moelis & Company (MC) - Canvas Business Model: Revenue Streams

You're looking at the top-line performance for Moelis & Company as of late 2025, and the numbers show a strong rebound in advisory fee generation across the platform. The firm's revenue streams are fundamentally driven by success in executing complex transactions for its clients.

Advisory fees from M&A and Strategic Advisory mandates remain the core engine. For context, in the first half of 2025, total revenues reached $672.0 million, marking a 39% increase year-over-year from the first half of 2024. This growth was primarily attributable to increased activity in M&A and capital markets. To give you a sense of the historical mix, in the first nine months of 2024, the revenue distribution was approximately 60% M&A and 40% non-M&A activities.

The platform is designed to capture fees from a broader set of services, which fall under the non-M&A category. These include:

• Advisory fees from M&A and Strategic Advisory mandates
• Fees from Capital Structure Advisory and Restructuring services
• Fees from Capital Markets and Private Capital Advisory services

The focus on expanding the Capital Markets and Private Capital Advisory segments is a key strategic revenue driver. Management has specifically highlighted the Private Capital Advisory business as a potential $200 million revenue opportunity moving forward.

The overall financial performance for the year-to-date period is quite clear. Total Adjusted Revenues for the first nine months of 2025 reached $1,048.0 million. This is a significant jump, showing the success of the advisory pipeline converting into recognized revenue.

Beyond the core advisory fees, Moelis & Company also generates Other income from strategic investments. For the first nine months of 2025, Adjusted other income was $18.7 million, up from $10.0 million in the prior year period. This figure specifically included a gain of $19.1 million related to the sale of 5.0 million shares of the firm's investment in MA Financial Group Limited.

Here's a quick look at the key revenue-related financial metrics we have for 2025:

Metric	Amount	Period End
Total Adjusted Revenues	$1,048.0 million	First Nine Months of 2025
Second Quarter Revenues (GAAP)	$365.4 million	Q2 2025
First Half Revenues (GAAP)	$672.0 million	First Half of 2025
Adjusted Other Income (MA Financial Sale Included)	$18.7 million	First Nine Months of 2025
Gain from MA Financial Share Sale	$19.1 million	First Nine Months of 2025

The firm's ability to generate this level of revenue is supported by its advisory platform, which is structured around these distinct, yet integrated, revenue-generating activities. The reported revenue growth in the first half of 2025, up 39% year-over-year, demonstrates strong client engagement across these service lines. Finance: draft 13-week cash view by Friday.