The Largest Forensic Valuations of 2025
A Defining Year for High-Stakes Valuation Engagements
In 2025, forensic valuations reached unprecedented scale and complexity. Economic volatility, heightened regulatory scrutiny, and an increase in shareholder and marital disputes involving sophisticated assets drove demand for rigorous, defensible valuations.
Several matters stood out not only for their headline figures (often reaching into the billions), but also for what they revealed about evolving valuation risk in modern enterprises.
Mega-Mergers Under the Microscope
Some of the largest forensic valuations of 2025 stemmed from post-merger disputes following transactions completed during the prior two years. As interest rates stabilized and markets recalibrated, buyers and sellers increasingly disagreed over earn-outs, purchase price adjustments, and alleged misrepresentations.
In multiple cases involving technology and infrastructure companies valued between $3 billion and $8 billion, forensic valuation professionals were engaged to assess whether projected synergies were realistically achievable or overstated. These engagements required reconstructing management forecasts, isolating market-driven performance shifts, and determining whether declines in value were attributable to macroeconomic factors or pre-transaction conditions.
Private Equity Portfolio Revaluations
Private equity portfolios accounted for some of the most significant valuation exercises of the year. In 2025, several global funds undertook forensic valuations of portfolio companies exceeding $10 billion in aggregate value in response to investor disputes and regulatory inquiries.
Key issues included the use of aggressive EBITDA add-backs, inconsistent discount rates across similar assets, and valuation models that lagged behind operational realities. Forensic analysis often focused on aligning fair value conclusions with observable market data while assessing whether prior valuations complied with accounting standards and fiduciary obligations.
High-Net-Worth Divorce and Estate Matters
While corporate disputes often dominate headlines, some of the most intricate forensic valuations of 2025 arose in high-net-worth family law and estate matters. In one notable case, marital assets exceeded $2.5 billion, including closely held operating companies, complex trust structures, carried interest, and international real estate holdings.
These matters required not only business valuation expertise but also deep analysis of control, marketability discounts, income allocation, and tax implications. The scale of these engagements underscored how personal disputes can rival corporate litigation in both financial exposure and analytical rigor.
Cryptocurrency and Digital Asset Valuations Come of Age
Digital assets moved firmly into the forensic valuation mainstream in 2025. Several large-scale disputes involved cryptocurrency exchanges, tokenized assets, and blockchain-based businesses with claimed valuations ranging from $1 billion to $6 billion.
Forensic valuations in this space addressed challenges such as extreme price volatility, liquidity constraints, regulatory uncertainty, and the valuation of proprietary technology versus speculative tokens. The year marked a shift from theoretical valuation debates to court-tested methodologies capable of withstanding cross-examination.
Distressed Asset and Insolvency Valuations
Corporate restructurings and insolvencies also contributed to the year’s largest forensic valuations. In industries such as commercial real estate, healthcare, and logistics, valuation professionals were tasked with determining enterprise and asset values in distressed scenarios exceeding $5 billion.
These engagements often involved competing stakeholder interests, requiring scenario-based valuations, liquidation analyses, and assessments of going-concern viability. Precision and transparency were critical, as valuation conclusions directly influenced creditor recoveries and restructuring outcomes.
What the Largest Valuations of 2025 Signal for the Future
The scale and complexity of forensic valuations in 2025 reflect a broader trend: value disputes are no longer confined to niche situations. They now sit at the center of corporate governance, litigation strategy, and wealth preservation. As assets become more complex and stakeholders more sophisticated, the demand for independent, well-supported valuation analysis continues to grow.
Looking ahead, the lessons of 2025 are clear. Forensic valuations must integrate financial theory, real-world market behavior, and meticulous documentation. When billions of dollars are at stake, valuation is no longer just an exercise, it is a critical determinant of outcomes.