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Ather Energy Valuation Multiples
Discover revenue and EBITDA valuation multiples for Ather Energy and similar public comparables like Lucid, Eos Energy Enterprises, WeRide, Mitsubishi Motors and more.
Ather Energy Overview
About Ather Energy
Ather Energy Ltd is engaged in the Indian electric two-wheeler (E2W) market. It is a EV company that sells E2Ws and the associated product ecosystem, comprised of software, charging infrastructure and smart accessories, all of which conceptualized and designed. Its model include Ather 450S, Ather 450X, Ather 450 Apex, Ather Rizta Z, etc.
Founded
2013
HQ
Employees
1.6K
Website
Sectors
Financials (LTM)
EV
$3B
Ather Energy Financials
Ather Energy reported last 12-month revenue of $375M and negative EBITDA of ($45M).
In the same LTM period, Ather Energy generated $81M in gross profit, ($45M) in EBITDA losses, and had net loss of ($57M).
Revenue (LTM)
Ather Energy P&L
In the most recent fiscal year, Ather Energy reported revenue of $186M and EBITDA of ($88M).
Ather Energy expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $375M | XXX | $186M | XXX | XXX | XXX |
| Gross Profit | $81M | XXX | $9M | XXX | XXX | XXX |
| Gross Margin | 22% | XXX | 5% | XXX | XXX | XXX |
| EBITDA | ($45M) | XXX | ($88M) | XXX | XXX | XXX |
| EBITDA Margin | (12%) | XXX | (47%) | XXX | XXX | XXX |
| EBIT Margin | (17%) | XXX | (47%) | XXX | XXX | XXX |
| Net Profit | ($57M) | XXX | ($112M) | XXX | XXX | XXX |
| Net Margin | (15%) | XXX | (61%) | XXX | XXX | XXX |
| Net Debt | — | — | $9M | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Ather Energy Stock Performance
Ather Energy has current market cap of $3B, and enterprise value of $3B.
Market Cap Evolution
Ather Energy's stock price is $7.43.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $3B | $3B | -1.1% | XXX | XXX | XXX | $-0.29 |
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Start Free TrialAther Energy Valuation Multiples
Ather Energy trades at 6.9x EV/Revenue multiple, and (57.8x) EV/EBITDA.
EV / Revenue (LTM)
Ather Energy Financial Valuation Multiples
As of March 26, 2026, Ather Energy has market cap of $3B and EV of $3B.
Equity research analysts estimate Ather Energy's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Ather Energy has a P/E ratio of (49.6x).
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $3B | XXX | $3B | XXX | XXX | XXX |
| EV (current) | $3B | XXX | $3B | XXX | XXX | XXX |
| EV/Revenue | 6.9x | XXX | 14.0x | XXX | XXX | XXX |
| EV/EBITDA | (57.8x) | XXX | (29.6x) | XXX | XXX | XXX |
| EV/EBIT | (41.9x) | XXX | (29.7x) | XXX | XXX | XXX |
| EV/Gross Profit | 32.1x | XXX | 293.1x | XXX | XXX | XXX |
| P/E | (49.6x) | XXX | (25.3x) | XXX | XXX | XXX |
| EV/FCF | (21.9x) | XXX | (63.9x) | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Ather Energy Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Ather Energy Margins & Growth Rates
Ather Energy's revenue in the last 12 month grew by 40%.
Ather Energy's revenue per employee in the last FY averaged $0.2M.
Ather Energy's rule of 40 is 28% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Ather Energy's rule of X is 89% (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).
Ather Energy Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 40% | XXX | 42% | XXX | XXX | XXX |
| EBITDA Margin | (12%) | XXX | (47%) | XXX | XXX | XXX |
| EBITDA Growth | (59%) | XXX | (22%) | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 28% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 89% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.2M | XXX | XXX | XXX |
| S&M Expenses to Revenue | — | XXX | 6% | XXX | XXX | XXX |
| G&A Expenses to Revenue | — | XXX | 5% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 52% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Ather Energy Public Comps
See public comps and valuation multiples for other Electric Vehicles comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Lucid | XXX | XXX | XXX | XXX | XXX | XXX |
| Eos Energy Enterprises | XXX | XXX | XXX | XXX | XXX | XXX |
| WeRide | XXX | XXX | XXX | XXX | XXX | XXX |
| Mitsubishi Motors | XXX | XXX | XXX | XXX | XXX | XXX |
| Aima Technology Group | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Ather Energy M&A Activity
Ather Energy acquired XXX companies to date.
Last acquisition by Ather Energy was on XXXXXXXX, XXXXX. Ather Energy acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Ather Energy
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAther Energy Investment Activity
Ather Energy invested in XXX companies to date.
Ather Energy made its latest investment on XXXXXXXX, XXXXX. Ather Energy invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Ather Energy
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Ather Energy
| When was Ather Energy founded? | Ather Energy was founded in 2013. |
| Where is Ather Energy headquartered? | Ather Energy is headquartered in India. |
| How many employees does Ather Energy have? | As of today, Ather Energy has over 1K employees. |
| Is Ather Energy publicly listed? | Yes, Ather Energy is a public company listed on National Stock Exchange of India. |
| What is the stock symbol of Ather Energy? | Ather Energy trades under ATHERENERG ticker. |
| When did Ather Energy go public? | Ather Energy went public in 2025. |
| Who are competitors of Ather Energy? | Ather Energy main competitors are Lucid, Eos Energy Enterprises, WeRide, Mitsubishi Motors. |
| What is the current market cap of Ather Energy? | Ather Energy's current market cap is $3B. |
| What is the current revenue of Ather Energy? | Ather Energy's last 12 months revenue is $375M. |
| What is the current revenue growth of Ather Energy? | Ather Energy revenue growth (NTM/LTM) is 40%. |
| What is the current EV/Revenue multiple of Ather Energy? | Current revenue multiple of Ather Energy is 6.9x. |
| Is Ather Energy profitable? | No, Ather Energy is not profitable. |
| What is the current EBITDA of Ather Energy? | Ather Energy has negative EBITDA and is not profitable. |
| What is Ather Energy's EBITDA margin? | Ather Energy's last 12 months EBITDA margin is (12%). |
| What is the current EV/EBITDA multiple of Ather Energy? | Current EBITDA multiple of Ather Energy is (57.8x). |
| What is the current FCF of Ather Energy? | Ather Energy's last 12 months FCF is ($118M). |
| What is Ather Energy's FCF margin? | Ather Energy's last 12 months FCF margin is (32%). |
| What is the current EV/FCF multiple of Ather Energy? | Current FCF multiple of Ather Energy is (21.9x). |
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