Ashmore Group - Public Comps and Valuation Multiples

Ashmore Group Overview

About Ashmore Group

Ashmore Group PLC is a value-oriented asset management firm that focuses its investments on emerging markets. It offers a diverse range of both traditional and alternative investment strategies to its client base globally, including both institutional and retail investors. The company invests in sovereign debt instruments, currencies, corporate debt, equities, derivatives, private equity, real estate, distressed debt, and other special situations. The firm reports on changes in assets under management as the majority of its revenue is derived from management fees. The company also benefits from performance fees on its investments. Geographically, the group derives maximum revenue from the United Kingdom and Ireland, followed by the Americas, and Asia and the Middle East.

Founded

1998

HQ

Employees

272

Website

ashmoregroup.com

Sectors

Asset Management

Financials

LTM Revenue $190M

LTM EBITDA $68.2M

EV

$680M

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Ashmore Group Financials

As of September 2025, Ashmore Group reported last 12-month revenue of $190M and EBITDA of $68.2M.

In the same period, Ashmore Group achieved $96.3M in LTM net income.

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Ashmore Group P&L

In the most recent fiscal year, Ashmore Group reported revenue of $193M and EBITDA of $149M.

Ashmore Group 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	$190M	XXX	$193M	XXX	XXX	XXX
Gross Profit	n/a	XXX	$161M	XXX	XXX	XXX
Gross Margin	n/a	XXX	84%	XXX	XXX	XXX
EBITDA	$68.2M	XXX	$149M	XXX	XXX	XXX
EBITDA Margin	36%	XXX	78%	XXX	XXX	XXX
EBIT	$65.4M	XXX	$58.3M	XXX	XXX	XXX
EBIT Margin	34%	XXX	30%	XXX	XXX	XXX
Net Profit	$96.3M	XXX	$108M	XXX	XXX	XXX
Net Margin	51%	XXX	56%	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 Ashmore Group including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $190M. EBITDA for the last twelve months was $68.2M. In the most recent fiscal year, Ashmore Group achieved $193M in revenue and $149M 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	$190M	Analyst estimates available to subscribers	$193M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	n/a	Analyst estimates available to subscribers	$161M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	n/a	Analyst estimates available to subscribers	83.5% 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)	$68.2M	Analyst estimates available to subscribers	$149M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	35.9% EBITDA margin	Analyst estimates available to subscribers	77.6% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$65.4M	Analyst estimates available to subscribers	$58.3M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	34.4% EBIT margin	Analyst estimates available to subscribers	30.3% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$96.3M	Analyst estimates available to subscribers	$108M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	50.6% net profit margin	Analyst estimates available to subscribers	56.2% 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 Ashmore Group

This financial data table provides comprehensive performance metrics for Ashmore Group, a company based in United Kingdom of Great Britain and Northern Ireland. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Ashmore Group generated $190M in revenue over the last twelve months.
The company achieved $68.2M in EBITDA over the last twelve months.
Net income over the last twelve months reached $96.3M.

Fiscal Year Performance

In the most recent fiscal year, Ashmore Group reported $193M in total revenue.
Fiscal year EBITDA was $149M.
The company maintained a gross profit margin of 83.5% in the most recent fiscal year.
EBITDA margin for the fiscal year was 77.6%.
Net profit margin reached 56.2% in the most recent fiscal year.

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

Ashmore Group Stock Performance

Ashmore Group has current market cap of GBP 1.2B (or $1.6B), and EV of GBP 510M (or $680M).

Market Cap Evolution

Ashmore Group Stock Data

As of October 17, 2025, Ashmore Group's stock price is GBP 2 (or $2).

See Ashmore Group trading valuation data

EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$680M	$1.6B	XXX	XXX	XXX	XXX	$0.10

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Ashmore Group Valuation Multiples

Ashmore Group's trades at 3.1x EV/Revenue multiple, and 4.2x EV/EBITDA.

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Ashmore Group Financial Valuation Multiples

As of October 17, 2025, Ashmore Group has market cap of $1.6B and EV of $680M.

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

Ashmore Group has a P/E ratio of 16.5x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$1.6B	XXX	$1.6B	XXX	XXX	XXX
EV (current)	$680M	XXX	$680M	XXX	XXX	XXX
EV/Revenue	3.6x	XXX	3.1x	XXX	XXX	XXX
EV/EBITDA	10.0x	XXX	4.2x	XXX	XXX	XXX
EV/EBIT	10.4x	XXX	8.8x	XXX	XXX	XXX
EV/Gross Profit	n/a	XXX	n/a	XXX	XXX	XXX
P/E	16.5x	XXX	13.6x	XXX	XXX	XXX
EV/FCF	11.3x	XXX	7.5x	XXX	XXX	XXX

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

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Ashmore Group Margins & Growth Rates

Ashmore Group's last 12 month revenue growth is 0%

Ashmore Group's revenue per employee in the last FY averaged $0.7M, while opex per employee averaged $0.4M for the same period.

Ashmore Group's rule of 40 is 73% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Ashmore Group'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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Ashmore Group Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	0%	XXX	-7%	XXX	XXX	XXX
EBITDA Margin	36%	XXX	73%	XXX	XXX	XXX
EBITDA Growth	-1%	XXX	-34%	XXX	XXX	XXX
Rule of 40	73%	XXX	73%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	36%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.7M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.4M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	1%	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	0%	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	53%	XXX	XXX	XXX

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

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