MOC is the initial value of capital multiple and the multiple of capital return. For example, if you invested 1 100 million, and now the fair value is 300 million, then MOC is 3. This indicator has nothing to do with time.
One of its biggest shortcomings is that it doesn't consider the value of time, but its biggest advantage is simplicity. For example, two PE investors are saying that their project has tripled, but one has used it for two years and the other has used it for 10 years. It all sounds triple, but in fact, the rate of return is far from it. MOC is a static indicator, and IRR should be combined to better measure the level of return on investment.