AVAX Valuation Multiples

AVAX is valued at $521M as of September 2026, a 0.8x revenue multiple. In the last 12 months, AVAX revenue was $1.1B and AVAX EBITDA was $142M.

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AVAX Overview

About AVAX

AVAX SA operates as a construction company in Greece. The company operates through the following segments: The Construction segment develops buildings, warehouses, and shopping centers; The Concessions segment constructs highways, bridges, airports, and car parks; The Energy segment comprises of the construction TAP natural gas pipeline in Northern Greece; design and construction of power plants in Iraq; The Other Activities segment covers estate development and other activities. It derives maximum revenue from the Construction segment.


Founded

1986

HQ

Greece

Employees

3.3K

Website

avax.gr

Financials (LTM)

Revenue: $1.1B
EBITDA: $142M

EV

$871M

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AVAX Financials

AVAX reported last 12-month revenue of $1.1B and EBITDA of $142M.

In the same LTM period, AVAX generated $145M in gross profit, $142M in EBITDA, and $57M in net income.

Revenue (LTM)


AVAX P&L

In the most recent fiscal year, AVAX reported revenue of $1.1B and EBITDA of $125M.

AVAX is profitable as of last fiscal year, with gross margin of 12%, EBITDA margin of 11%, and net margin of 5%.

See analyst estimates for AVAX
LTMLast FY202320242025202620272028
Revenue$1.1B$1.1B$527M$757M$1.1B
Gross Profit$145M$129M$43M$96M$129M
Gross Margin13%12%8%13%12%
EBITDA$142M$125M$65M$100M$125M
EBITDA Margin13%11%12%13%11%
EBIT Margin9%8%1%8%8%
Net Profit$57M$54M$12M$35M$54M
Net Margin5%5%2%5%5%
Net Debt-$245M---

Financial data powered by Morningstar, Inc.

AVAX Stock Performance

AVAX has current market cap of $521M, and enterprise value of $871M.

Market Cap Evolution


AVAX's stock price is $3.55.

AVAX share price decreased by 10.8% in the last 30 days, and increased by 24.8% in the last year.

AVAX has an EPS (earnings per share) of $0.37.

See more trading valuation data for AVAX
EVMarket CapPrice 1DPrice 1MPrice 3MPrice 12MEPS
$871M$521M-2.2%-10.8%-10.9%24.8%$0.37

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AVAX Valuation Multiples

AVAX trades at 0.8x EV/Revenue multiple, and 6.1x EV/EBITDA.

See NTM and 2027E valuation multiples for AVAX

EV / Revenue (LTM)


AVAX Financial Valuation Multiples

As of September 26, 2026, AVAX has market cap of $521M and EV of $871M.

AVAX has a P/E ratio of 9.2x.

LTMLast FY202320242025202620272028
EV/Revenue0.8x0.8x1.7x1.2x0.8x
EV/EBITDA6.1x6.9x13.4x8.8x6.9x
EV/EBIT8.7x10.1x117.8x14.9x10.1x
EV/Gross Profit6.0x6.8x20.4x9.1x6.8x
P/E9.2x9.6x43.6x14.9x9.6x
EV/FCF14.9x43.1x48.6x(9.3x)43.1x

Multiples above and below 250x are considered non-meaningful (n/m). Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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AVAX Margins & Growth Rates

AVAX grew revenue by 6% and EBITDA by 8% in the last fiscal year.

In the most recent fiscal year, AVAX reported gross margin of 12%, EBITDA margin of 11%, and net margin of 5%.

See estimated margins and future growth rates for AVAX

AVAX Margins

Last FY202420252026202720282029
Gross Margin12%13%12%12%
EBITDA Margin11%13%11%12%
EBIT Margin8%8%8%9%
Net Margin5%5%5%5%
FCF Margin2%(12%)2%6%

AVAX Growth Rates

FY+1/FY23/2424/2525/2626/2727/2828/29
Revenue Growth6%44%44%6%
Gross Profit Growth10%124%35%10%
EBITDA Growth8%53%26%8%
EBIT Growth16%693%47%16%
Net Profit Growth5%192%55%5%
FCF Growth237%(622%)(122%)237%

Data powered by FactSet, Inc. and Morningstar, Inc.

AVAX Operational KPIs

AVAX's revenue per employee in the last FY averaged $0.3M, while opex per employee averaged $0.0M for the same period.

AVAX's Rule of 40 is 17% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

AVAX's Rule of X is 26% (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).

Access forward-looking KPIs for AVAX
LTMLast FY202320242025202620272028
Rule of 4015%17%---
Bessemer Rule of X18%26%---
Revenue per Employee-$0.3M---
Opex per Employee-$0.0M---
S&M Expenses to Revenue-1%1%1%1%
G&A Expenses to Revenue-1%2%1%1%
Opex to Revenue-4%7%5%4%

Data powered by FactSet, Inc. and Morningstar, Inc.

Valuation Multiples Across 230+ Verticals

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Meshulam Levinstein$167M$64M6.4x-16.7x-
YEO Teknoloji Enerji ve Endüstri$342M$52M2.0x-12.9x-
Ellaktor$21M($52M)15.0x-(6.1x)-
Merko Ehitus$354M$53M1.6x-10.7x-
Zhongyan Technology Co$92M$3M5.2x5.3x166.2x42.3x
NYAB$623M$41M0.9x0.8x13.2x10.4x
Grupo Empresarial San$1.8B$77M----
Concrete Pumping Holdings$393M$94M2.3x2.1x9.7x8.6x

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About AVAX

When was AVAX founded?AVAX was founded in 1986.
Where is AVAX headquartered?AVAX is headquartered in Greece.
How many employees does AVAX have?As of today, AVAX has over 3K employees.
Is AVAX publicly listed?Yes, AVAX is a public company listed on Athens Stock Exchange.
What is the stock symbol of AVAX?AVAX trades under AVAX ticker.
When did AVAX go public?AVAX went public in 1994.
Who are competitors of AVAX?AVAX main competitors include Meshulam Levinstein, YEO Teknoloji Enerji ve Endüstri, Ellaktor, Merko Ehitus, Zhongyan Technology Co, NYAB, Grupo Empresarial San, Concrete Pumping Holdings, Fiducial Real Estate, Cardinal Infrastructure.
What is the current market cap of AVAX?AVAX's current market cap is $521M.
What is the current revenue of AVAX?AVAX's last 12 months revenue is $1.1B.
What is the current revenue growth of AVAX?AVAX revenue growth (NTM/LTM) is 2%.
What is the current EV/Revenue multiple of AVAX?Current revenue multiple of AVAX is 0.8x.
What is the current EBITDA of AVAX?AVAX's last 12 months EBITDA is $142M.
What is AVAX's EBITDA margin?AVAX's last 12 months EBITDA margin is 13%.
What is the current EV/EBITDA multiple of AVAX?Current EBITDA multiple of AVAX is 6.1x.
What is the current FCF of AVAX?AVAX's last 12 months FCF is $58M.
What is AVAX's FCF margin?AVAX's last 12 months FCF margin is 5%.
What is the current EV/FCF multiple of AVAX?Current FCF multiple of AVAX is 14.9x.
How many companies AVAX has acquired to date?AVAX hasn't acquired any companies yet (or none have been disclosed publicly).
In how many companies AVAX has invested to date?AVAX hasn't invested in any companies yet (or none have been disclosed publicly).

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