Max power before clipping
Do you have an estimate of the max power and voltage before clipping into a ~33 ohm load from both the 3.5mm and 2.5mm outouts?
Can you let us know the sensitivity of the IEM as well?
Or please let us know the exact model number, and we'll check the power budget shortly.
Thank you.

I don't have specific headphones in mind. I'd just like to know the maximum power and voltage the 5K DAC will output into a 33 ohm load before the 5K itself clips (i.e. distortion spikes up) - the sensitivity of the headphones won't affect that.
It mainly depends on ES9218p DAC/AMP.
To 32-ohm load as 80mWatt (SE), 240mW (BAL)
(same as the other ES9218p applications)

Please check the link below:

It's the 5K power budget for 32-ohm/105dB sensitivity.
As you can see, you will get more than enough loudness before you reach the max output.
Thanks so much, that's very useful information. Actually, I have recently bought some headphones with an impedance of 49 ohms and a very low sensitivity (or rather efficiency) of 88 dB/mW. Would it be possible for you to produce a 'power budget' table for using these headphones with the 5K DAC 3.5mm and 2.5mm outputs as well? So I can see the max power, voltage and SPL at saturation / clipping in this case.
Brilliant, thanks. Do you think those SPL values would be high enough to produce satisfyingly loud volume through these headphones, also considering I would need to set the preamp on the 5K DAC to -7.5 dB for my PEQ settings?
With -7.5dB Preamp gain, Balanced output,
you will have no clipping even at the max. 4VRMS output level.

Ideally, with -7.5dB sine wave, you will get 113dB SPL - 7.5dB = 105.5dB SPL.
Please check the figure #2 in page below:

By the way, what do you mean by "-7.5 dB for my PEQ settings"?
-7.5dB preamp gain?
The real audio signal doesn't have all energy at a specific frequency band.
For 31.5Hz tone, boosting EQ up to 6dB at 31.5Hz may require -6dB preamp gain to prevent digital domain clipping. However, the real audio signal doesn't have its all energy at 31.5Hz, so you don't need to have the same amount of -6dB preamp gain, in most cases.

Boosting EQ up at a specific frequency band and setting the preamp gain down is to keep the signal swing at the same level. Eventually, the overall SPL would remain at the same, if adjusted properly.

Yes, I meant -7.5 dB preamp gain, which would guarantee no clipping for the PEQ profile I'm using. So do you think 105.5 dB would be loud enough?

Please check the above link.
It depends on.
But the 105dB SPL seems not too small.
Ok thanks, seems like it would probably be loud enough then.