Data Update 1 for 2025: The Draw (and Danger) of Data

In his annual tradition spanning over four decades, Professor Aswath Damodaran—a faculty member at the Institute for Mergers, Acquisitions and Alliances (IMAA) and Professor of Finance at NYU’s Stern School of Business—has released his comprehensive 2025 data update on global publicly traded companies. This invaluable resource is designed for corporate finance and valuation practitioners and includes industry-level statistics across 94 sectors and multiple geographies.

Professor Damodaran emphasizes the power and pitfalls of data. While data can be a powerful tool for decision-making, it is not infallible. He warns against the illusion of objectivity, cautioning that biases, data manipulation, and overreliance on historical trends can mislead both investors and analysts. In a world increasingly influenced by AI and analytics, Damodaran reminds us that data should inform, not dictate, decisions—and that transparency, context, and a healthy skepticism remain critical.

The 2025 dataset includes 47,810 publicly traded firms worldwide, drawn from sources like S&P Capital IQ, Bloomberg, and FRED, and spans variables ranging from risk metrics, profitability, and leverage, to growth, dividend policies, and valuation multiples. For example, his analysis of U.S. corporate tax rates in 2025 reveals a range from 6.75% to 26.43%, depending on methodology—demonstrating how different narratives can emerge from the same data depending on one’s biases.