Asure Software - Public Comps and Valuation Multiples

Asure Software Overview

About Asure Software

Asure Software Inc is a provider of cloud-based Human Capital Management (HCM) software solutions delivered as Software-as-a-Service (SaaS) to businesses of all sizes. It facilitates small and mid-sized businesses (SMBs) to develop their Human Capital to get to the next level, stay compliant, and allocate their time, money, and technology toward growth. The company's HCM suite, named AsureHCM, includes cloud-based Payroll and Tax, HR, a Time and Attendance software. Its HR services range from HR projects to outsourcing payroll to HR consulting services. The firm sells its HCM products majorly in the United States.

Founded

1985

HQ

Employees

635

Website

asuresoftware.com

Sectors

Human Capital Management Software
B2B SaaS
Horizontal SaaS
HRTech

Financials

LTM Revenue $136M

LTM EBITDA $29.7M

EV

$237M

Valuation Multiples

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Asure Software Financials

As of September 2025, Asure Software reported last 12-month revenue of $136M and EBITDA of $29.7M.

In the same period, Asure Software generated $95.9M in LTM gross profit and $20.8M in net income.

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Asure Software P&L

In the most recent fiscal year, Asure Software reported revenue of $120M and EBITDA of $13.7M.

Asure Software 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	$136M	XXX	$120M	XXX	XXX	XXX
Gross Profit	$95.9M	XXX	$82.1M	XXX	XXX	XXX
Gross Margin	71%	XXX	69%	XXX	XXX	XXX
EBITDA	$29.7M	XXX	$13.7M	XXX	XXX	XXX
EBITDA Margin	22%	XXX	11%	XXX	XXX	XXX
EBIT	-$6.2M	XXX	-$10.7M	XXX	XXX	XXX
EBIT Margin	-5%	XXX	-9%	XXX	XXX	XXX
Net Profit	$20.8M	XXX	-$11.8M	XXX	XXX	XXX
Net Margin	15%	XXX	-10%	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 Asure Software including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $136M. EBITDA for the last twelve months was $29.7M. In the most recent fiscal year, Asure Software achieved $120M in revenue and $13.7M 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	$136M	Analyst estimates available to subscribers	$120M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$95.9M	Analyst estimates available to subscribers	$82.1M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	70.7% gross margin	Analyst estimates available to subscribers	68.5% 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)	$29.7M	Analyst estimates available to subscribers	$13.7M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	21.9% EBITDA margin	Analyst estimates available to subscribers	11.4% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	-$6.2M	Analyst estimates available to subscribers	-$10.7M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	-4.6% EBIT margin	Analyst estimates available to subscribers	-9.0% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$20.8M	Analyst estimates available to subscribers	-$11.8M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	15.3% net profit margin	Analyst estimates available to subscribers	-9.8% 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 Asure Software

This financial data table provides comprehensive performance metrics for Asure Software, 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

Asure Software generated $136M in revenue over the last twelve months.
The company achieved $29.7M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $95.9M.
Net income over the last twelve months reached $20.8M.

Fiscal Year Performance

In the most recent fiscal year, Asure Software reported $120M in total revenue.
Fiscal year EBITDA was $13.7M.
The company maintained a gross profit margin of 68.5% in the most recent fiscal year.
EBITDA margin for the fiscal year was 11.4%.
Net profit margin reached -9.8% in the most recent fiscal year.

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

Asure Software Stock Performance

Asure Software has current market cap of $230M, and EV of $237M.

Market Cap Evolution

Asure Software Stock Data

As of October 20, 2025, Asure Software's stock price is $8.

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$237M	$230M	XXX	XXX	XXX	XXX	$0.75

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Asure Software Valuation Multiples

Asure Software's trades at 2.0x EV/Revenue multiple, and 17.3x EV/EBITDA.

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Asure Software Financial Valuation Multiples

As of October 20, 2025, Asure Software has market cap of $230M and EV of $237M.

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

Asure Software has a P/E ratio of 11.1x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$230M	XXX	$230M	XXX	XXX	XXX
EV (current)	$237M	XXX	$237M	XXX	XXX	XXX
EV/Revenue	1.7x	XXX	2.0x	XXX	XXX	XXX
EV/EBITDA	8.0x	XXX	17.3x	XXX	XXX	XXX
EV/EBIT	-37.9x	XXX	-22.0x	XXX	XXX	XXX
EV/Gross Profit	2.5x	XXX	n/a	XXX	XXX	XXX
P/E	11.1x	XXX	-19.5x	XXX	XXX	XXX
EV/FCF	-29.2x	XXX	-16.0x	XXX	XXX	XXX

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

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Asure Software Margins & Growth Rates

Asure Software's last 12 month revenue growth is 14%

Asure Software's revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $0.1M for the same period.

Asure Software's rule of 40 is 27% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Asure Software's rule of X is 56% (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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Asure Software Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	14%	XXX	15%	XXX	XXX	XXX
EBITDA Margin	22%	XXX	11%	XXX	XXX	XXX
EBITDA Growth	24%	XXX	41%	XXX	XXX	XXX
Rule of 40	27%	XXX	25%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	56%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.2M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.1M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	24%	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	7%	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	78%	XXX	XXX	XXX

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

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