Allbirds - Public Comps and Valuation Multiples

Allbirds Overview

About Allbirds

Allbirds Inc is a lifestyle brand that innovates with naturally derived materials to make footwear and apparel products in a better way, while treading lighter on the planet. Its primary source of revenue is from sales of shoes and apparel products. The majority of the revenue is derived from United States.

Founded

2015

HQ

Employees

542

Website

allbirds.com

Sectors

Clothing & Accessories

Financials

LTM Revenue $172M

LTM EBITDA -$65.7M

EV

$61.2M

Valuation Multiples

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Allbirds Financials

As of September 2025, Allbirds reported last 12-month revenue of $172M and EBITDA of -$65.7M.

In the same period, Allbirds generated $75.5M in LTM gross profit and -$79.6M in net income.

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Allbirds P&L

In the most recent fiscal year, Allbirds reported revenue of $190M and EBITDA of -$81.6M.

Allbirds expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$172M	XXX	$190M	XXX	XXX	XXX
Gross Profit	$75.5M	XXX	$81.1M	XXX	XXX	XXX
Gross Margin	44%	XXX	43%	XXX	XXX	XXX
EBITDA	-$65.7M	XXX	-$81.6M	XXX	XXX	XXX
EBITDA Margin	-38%	XXX	-43%	XXX	XXX	XXX
EBIT	-$83.9M	XXX	-$94.0M	XXX	XXX	XXX
EBIT Margin	-49%	XXX	-50%	XXX	XXX	XXX
Net Profit	-$79.6M	XXX	-$93.3M	XXX	XXX	XXX
Net Margin	-46%	XXX	-49%	XXX	XXX	XXX
Net Debt	XXX	XXX	n/a	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Allbirds including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $172M. EBITDA for the last twelve months was -$65.7M. In the most recent fiscal year, Allbirds achieved $190M in revenue and -$81.6M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$172M	Analyst estimates available to subscribers	$190M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$75.5M	Analyst estimates available to subscribers	$81.1M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	44.0% gross margin	Analyst estimates available to subscribers	42.7% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	-$65.7M	Analyst estimates available to subscribers	-$81.6M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	-38.3% EBITDA margin	Analyst estimates available to subscribers	-43.0% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	-$83.9M	Analyst estimates available to subscribers	-$94.0M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	-48.9% EBIT margin	Analyst estimates available to subscribers	-49.5% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	-$79.6M	Analyst estimates available to subscribers	-$93.3M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	-46.4% net profit margin	Analyst estimates available to subscribers	-49.2% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	n/a	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Allbirds

This financial data table provides comprehensive performance metrics for Allbirds, a company based in United States of America. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Allbirds generated $172M in revenue over the last twelve months.
The company achieved -$65.7M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $75.5M.
Net income over the last twelve months reached -$79.6M.

Fiscal Year Performance

In the most recent fiscal year, Allbirds reported $190M in total revenue.
Fiscal year EBITDA was -$81.6M.
The company maintained a gross profit margin of 42.7% in the most recent fiscal year.
EBITDA margin for the fiscal year was -43.0%.
Net profit margin reached -49.2% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Allbirds. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Allbirds Stock Performance

Allbirds has current market cap of $56.2M, and EV of $61.2M.

Market Cap Evolution

Allbirds Stock Data

As of October 17, 2025, Allbirds's stock price is $7.

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$61.2M	$56.2M	XXX	XXX	XXX	XXX	$-9.94

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Allbirds Valuation Multiples

Allbirds's trades at 0.3x EV/Revenue multiple, and -0.8x EV/EBITDA.

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Allbirds Financial Valuation Multiples

As of October 17, 2025, Allbirds has market cap of $56.2M and EV of $61.2M.

Equity research analysts estimate Allbirds's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Allbirds has a P/E ratio of -0.7x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$56.2M	XXX	$56.2M	XXX	XXX	XXX
EV (current)	$61.2M	XXX	$61.2M	XXX	XXX	XXX
EV/Revenue	0.4x	XXX	0.3x	XXX	XXX	XXX
EV/EBITDA	-0.9x	XXX	-0.8x	XXX	XXX	XXX
EV/EBIT	-0.7x	XXX	-0.7x	XXX	XXX	XXX
EV/Gross Profit	0.8x	XXX	n/a	XXX	XXX	XXX
P/E	-0.7x	XXX	-0.6x	XXX	XXX	XXX
EV/FCF	-0.8x	XXX	-0.9x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Allbirds Margins & Growth Rates

Allbirds's last 12 month revenue growth is 1%

Allbirds's revenue per employee in the last FY averaged $0.4M, while opex per employee averaged $0.3M for the same period.

Allbirds's rule of 40 is -38% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Allbirds's rule of X is -36% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Allbirds Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	1%	XXX	-4%	XXX	XXX	XXX
EBITDA Margin	-38%	XXX	-43%	XXX	XXX	XXX
EBITDA Growth	-26%	XXX	n/a	XXX	XXX	XXX
Rule of 40	-38%	XXX	-42%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	-36%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.4M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.3M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	22%	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	92%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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