Ransomware has rapidly evolved into sophisticated, stealthy threats built to extort payments through data encryption and extraction. This paper presents an innovative methodology for ransomware risk evaluation using the mathematical frameworks of Markov Decision Processes (MDP). By modeling ransomware scenarios as MDPs, overlaying risk equations, and applying our analysis, a quantitative assessment of dynamic risk levels and effectiveness of defensive strategies is enabled. The technique is demonstrated through comparative assessment of prominent ransomware groups, industry-specific impact analysis, and time projections of data theft risk trajectories. Despite limitations in model complexity and real-world validation, the methodology elucidates an interdisciplinary approach blending decision theory, control systems and applied mathematics to enrich cyber risk research.