Atenor Valuation Multiples

Atenor Overview

About Atenor

Atenor SA is a Belgium-based real estate development company engaged in the business activity of developing real estate projects. Its project portfolio comprises offices, mixed-use, and residential complexes. The company's projects include Up-Site, Hermes Business Campus, Vaci Greens, Victor, Trebel, and South City Hotel. The group operates in Belgium, the Grand Duchy of Luxembourg, Hungary, and Romania.

Founded

1997

HQ

Employees

111

Website

atenor.eu

Sectors

Construction & EngineeringReal Estate Development

Financials (LTM)

Revenue: $175M

EBITDA: ($34M)

EV

$743M

Valuation Multiples

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Atenor Financials

Atenor reported last 12-month revenue of $175M and negative EBITDA of ($34M).

In the same LTM period, Atenor generated ($22M) in gross profit, ($34M) in EBITDA losses, and had net loss of ($113M).

Atenor P&L

In the most recent fiscal year, Atenor reported revenue of $182M and EBITDA of ($71M).

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

Atenor Stock Performance

Atenor has current market cap of $129M, and enterprise value of $743M.

Atenor's stock price is $2.12.

Atenor Valuation Multiples

Atenor trades at 4.3x EV/Revenue multiple, and (21.9x) EV/EBITDA.

Atenor Financial Valuation Multiples

As of April 19, 2026, Atenor has market cap of $129M and EV of $743M.

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

Atenor has a P/E ratio of (1.1x).

Atenor Margins & Growth Rates

Atenor's revenue in the last 12 month grew by 36%.

Atenor's revenue per employee in the last FY averaged $1.6M, while opex per employee averaged $0.1M for the same period.

Atenor's rule of 40 is 44% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Atenor's rule of X is 75% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

Atenor Public Comps

See public comps and valuation multiples for other Construction & Engineering and Real Estate Development comps.

Atenor M&A Activity

Atenor acquired XXX companies to date.

Last acquisition by Atenor was on XXXXXXXX, XXXXX. Atenor acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).

Atenor Investment Activity

Atenor invested in XXX companies to date.

Atenor made its latest investment on XXXXXXXX, XXXXX. Atenor invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).