Public Comps and Valuation Multiples for FinTech

Benchmark revenue and EBITDA valuation multiples for public comps like
Visa, Mastercard, American Express, Charles Schwab and Capital One.

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FinTech

CompanyMarket CapEnterprise ValueLTM RevenueEV/LTM RevenueEV/LTM EBITDA
$704B$715B$46B15.7x22.4x
$507B$520B$36B14.5x22.9x
$220B$232B$77B3.0x-
$189B$182B$27B6.8x11.4x
$135B$130B$61B2.1x-
$131B$147B$15B9.8x18.8x
$110B$116B$5B23.3x42.8x
$101B$102B$6.9B14.9x20.7x
$100B$108B$38B2.9x27.0x
$91B$91B$22B4.2x9.8x
$91B$109B$11B10.1x15.0x
$85B$92B$8.1B11.3x21.4x
$74B$56B$21B2.7x-
$70B$107B$6.2B17.3x31.8x
$65B$24B$4B6.0x7.5x
$59B$148B$7.5B19.8x33.4x
$58B$73B$13B5.7x11.3x
$54B$61B$5.7B10.6x17.8x
$50B$45B$25B1.8x10.4x
$49B$46B$5.8B8.0x28.5x
$47B$48B$10B4.7x14.0x
$47B$49B$34B1.4x7.1x
$46B$50B$13B3.8x13.9x
$46B$49B$8B6.1x15.3x
$45B$14B$2.8B5.1x5.7x
$42B$7.1B
$42B$3.4B
$40B$9.7B
$37B$3.2B
$34B$8.8B
$31B$2.7B
$28B$20B
$28B$20B
$27B$5.1B
$26B$15B
$26B$2.9B
$24B$11B
$24B$4.5B
$24B$1.1B
$24B$3.2B
$24B$4.5B
$22B$2.3B
$22B$13B
$21B$1.2B
$21B$6.5B
$20B$2.5B
$20B$5.1B
$20B$8.8B
$20B$7.5B
$20B$6.6B
$20B$7.1B
$19B$2.3B
$18B$1.1B
$18B$7.3B
$17B$3.1B
$17B$2.1B
$16B$414M
$15B$5B
$15B$131M
$15B$578M
$15B$1.4B
$15B-
$14B$1.5B
$13B$2.6B
$13B$3.7B
$13B$573M
$13B$2.7B
$12B$2.7B
$12B$273M
$11B$993M
$11B$1.4B
$11B$2.5B
$10B$3.8B
$10B$16B
$9.7B$1.9B
$9.2B$646M
$9B$270M
$8.8B$819M
$8.4B$5.7B
$8.2B$235M
$8.2B$666M
$8.1B$3.5B
$7.9B$900M
$7.9B$2.6B
$7.8B$393M
$7.8B$1.1B
$7.7B$915M
$7.4B$1.5B
$7.4B$218M
$7.3B$731M
$6.9B-
$6.8B$1.9B
$6.6B$2.8B
$6.6B$529M
$6.3B$784M
$6.2B$3.1B
$6.1B$855M
$6.1B$2B
$6B$1.7B
$5.8B$4.2B
$5.8B$3.3B
$5.7B$880M
$5.7B$568M
$5.7B$3.6B
$5.7B$2.5B
$5.6B$2.5B
$5.5B$1.9B
$5.5B$3.9B
$5.5B$337M
$5.3B$1.9B
$5.3B-
$5.3B$724M
$5.1B$5B
$4.9B$857M
$4.9B$675M
$4.7B$655M
$4.7B$857M
$4.7B$1.3B
$4.6B$56M
$4.6B$1.4B
$4.6B$1.4B
$4.6B$1.7B
$4.5B$715M
$4.5B$602M
$4.4B$1.1B
$4.4B$808M
$4.3B$367M
$4.3B$1.1B
$4.3B$1.8B
$4.3B$229M
$4.3B$611M
$4.3B$4B
$4.2B$501M
$4.2B$1.7B
$4.2B$348M
$4.1B$1.1B
$4.1B$581M
$4.1B$559M
$4.1B$32M
$3.9B$857M
$3.8B$1.4B
$3.7B$450M
$3.7B$3.3B
$3.7B$3B
$3.6B$2.3B
$3.6B$289M
$3.6B$1.9B
$3.6B$825M
$3.4B-
$3.4B$4.4B
$3.4B$848M
$3.3B$505M
$3.3B$611M
$3.2B$3.3B
$3.2B$593M
$3.2B$1.6B
$3.1B$238M
$2.9B$819M
$2.9B$247M
$2.8B$387M
$2.8B$617M
$2.8B$4.4B
$2.7B$1.3B
$2.7B-
$2.7B$4B
$2.6B$342M
$2.6B$892M
$2.6B-
$2.6B$907M
$2.5B$623M
$2.5B$1.5B
$2.5B$1.9B
$2.5B$796M
$2.4B$626M
$2.4B$1.1B
$2.4B$5.2B
$2.4B$3.8B
$2.3B$2.8B
$2.3B$3.9B
$2.3B-
$2.3B$714M
$2.3B$2.6B
$2.2B$350M
$2.2B$4.1B
$2.2B$803M
$2.2B$1.3B
$2.2B$379M
$2.2B$473M
$2.1B$992M
$2.1B$503M
$2.1B$900M
$2B$488M
$2B$310M
$2B$375M
$2B-
$1.9B$168M
$1.9B$1.4B
$1.9B$1.3B
$1.9B$746M
$1.9B-
$1.9B$51M
$1.9B-
$1.8B$579M
$1.8B$1B
$1.7B$195M
$1.7B$144M
$1.7B$679M
$1.7B$390M
$1.7B$504M
$1.6B-
$1.6B$2.9B
$1.5B$381M
$1.5B$840M
$1.5B-
$1.5B$218M
$1.5B$2.6B
$1.5B$611M
$1.5B$363M
$1.5B$280M
$1.4B$249M
$1.4B$371M
$1.4B$2.7B
$1.4B$608M
$1.3B$250M
$1.3B$853M
$1.3B$217M
$1.3B$275M
$1.3B-
$1.3B$777M
$1.2B$90M
$1.2B$346M
$1.2B$1.5B
$1.2B$71M
$1.2B$799M
$1.2B$512M
$1.1B$393M
$1.1B$2.1B
$1.1B$69M
$1.1B$4.7B
$1.1B$2.2B
$1.1B$199M
$1.1B$1.6B
$1.1B$1.3B
$1.1B$312M
$1B$166M
$1B$1.9B
$1B$435M
$1B$202M
$998M-
$980M-
$972M-
$956M$4.4B
$956M$421M
$947M$118M
$934M-
$924M$293M
$914M$621M
$903M$609M
$895M-
$894M$548M
$888M$256M
$886M$325M
$883M$85M
$878M$767M
$877M$1.5B
$865M$383M
$858M$195M
$854M-
$847M$332M
$846M-
$841M$790M
$838M$197M
$826M$303M
$820M-
$811M$262M
$804M-
$803M-
$801M$201M
$800M$1.8B
$779M$174M
$778M$276M
$777M-
$760M$2.3B
$759M$104M
$759M$374M
$758M-
$743M$702M
$733M-
$728M$299M
$702M-
$686M$203M
$670M$316M
$664M$178M
$650M$131M
$650M$706M
$649M$264M
$645M-
$643M$226M
$641M$304M
$632M$607M
$632M$889M
$630M$274M
$627M$104M
$623M-
$603M$3M
$598M$196M
$594M-
$591M$139M
$586M$231M
$582M$262M
$566M$170M
$551M$46M
$533M$286M
$530M$162M
$520M-
$515M$422M
$506M$1.2B
$492M$259M
$489M$73M
$486M-
$480M-
$461M$83M
$459M$259M
$459M$79M
$458M$1B
$454M$582M
$446M$69M
$444M$142M
$438M$551M
$433M$134M
$428M$1B
$425M-
$403M-
$398M$1.2B
$390M$325M
$388M$344M
$388M$1.4B
$384M-
$382M-
$380M$161M
$380M$106M
$378M$3B
$375M$1.6B
$372M$98M
$364M$127M
$362M-
$362M$950M
$359M$301M
$358M$86M
$350M$1.8B
$338M$92M
$330M-
$326M$588M
$323M-
$322M$435M
$318M$182M
$317M$138M
$313M-
$299M$217M
$295M-
$294M$52M
$288M$87M
$285M$16M
$284M$159M
$282M$353M
$281M-
$275M$196M
$273M-
$273M$376M
$271M-
$266M-
$265M$168M
$264M$196M
$261M$199M
$260M$172M
$258M$54M
$257M$203M
$257M-
$253M$151M
$250M$82M
$239M$86M
$236M$130M
$235M-
$231M$110M
$224M$118M
$222M$112M
$222M$112M
$222M$476M
$218M$13M
$217M$138M
$215M$443M
$212M$442M
$205M$56M
$204M-
$203M$931M
$199M$48M
$197M-
$196M$108M
$191M-
$183M$1M
$179M-
$176M-
$173M-
$173M$99M
$169M-
$169M-
$169M$36M
$162M$3M
$162M$127M
$159M$87M
$159M$81M
$158M$8M
$157M-
$156M-
$155M$433M
$145M$1.6B
$142M$279M
$142M$39M
$142M-
$140M-
$137M$148M
$136M-
$135M$10M
$133M-
$132M$149M
$132M-
$131M$75M
$131M-
$127M-
$124M$16M
$123M-
$121M-
$120M$73M
$120M-
$114M$13M
$114M-
$114M$18M
$112M$137M
$111M-
$110M$149M
$110M$65M
$105M$64M
$104M$234M
$103M-
$102M$13M
$97M-
$95M$1.6B
$90M$64M
$89M-
$89M-
$87M-
$86M-
$86M$65M
$86M$24M
$81M$84M
$81M$72M
$80M-
$78M$94M
$77M$63M
$75M-
$75M$73M
$74M-
$74M-
$72M$16M
$72M-
$71M-
$71M-
$69M$53M
$69M$149M
$68M$56M
$66M-
$64M$39M
$64M-
$64M-
$63M$40M
$63M$53M
$62M-
$61M$19M
$59M$21M
$57M-
$56M$48M
$55M$45M
$55M$10M
$55M$62M
$52M$317M
$51M$5M
$51M$161M
$51M$324M
$51M$10M
$51M-
$50M-
$49M($7M)
$48M-
$48M$3M
$47M$32M
$47M-
$46M$34M
$46M-
$45M$49M
$45M$21M
$44M-
$43M$3M
$41M-
$41M-
$41M-
$41M$166M
$40M$47M
$40M$437M
$39M-
$38M-
$38M-
$38M$85M
$37M-
$37M$1M
$37M$804M
$37M$81M
$35M-
$35M$89M
$35M$45M
$35M$59M
$33M$24M
$32M$464M
$32M-
$30M$1.8B
$30M-
$30M-
$30M$14M
$30M-
$30M$30M
$29M$64M
$29M-
$27M$50M
$26M-
$26M-
$26M-
$25M-
$25M-
$25M-
$24M-
$23M$12M
$23M$20M
$22M$19M
$22M-
$22M-
$21M-
$21M$18M
$21M$53K
$21M-
$21M$6M
$20M$29M
$20M-
$19M-
$19M-
$19M-
$19M-
$18M-
$18M$77K
$18M-
$17M-
$17M-
$15M-
$15M-
$15M$244M
$15M-
$15M-
$14M$15M
$14M$22M
$14M-
$14M-
$14M-
$13M-
$13M$37M
$11M$202M
$11M-
$11M$16M
$10M-
$10M-
$10M-
$10M-
$9M-
$9M-
$9M-
$9M-
$8M-
$8M-
$8M$49M
$8M-
$8M$33M
$7M$18M
$6M-
$6M-
$6M-
$6M$293M
$5M-
$5M-
$5M-
$5M$510K
$5M-
$4M-
$4M$62M
$4M-
$4M-
$4M-
$3M-
$3M-
$3M-
$3M-
$3M-
$3M-
$3M-
$2M-
$2M-
$2M-
$2M-
$2M-
$2M-
$1M-
$968K-
$562K-
$522K-
$108K$615M
$100K-
$83K-
$79K-
$23K-
$23K-
$11K-
$7K$5M
$4K-
$1K-
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