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Betolar Valuation Multiples

Discover revenue and EBITDA valuation multiples for Betolar and similar public comparables like Zaklady Magnezytowe Ropczyce, Concesur, Rias, Prefa Group and more.

Betolar Overview

About Betolar

Betolar Oyj is a Finnish materials technology company in the growth stage, whose mission is to enable the green transition of different industries globally, especially in the construction, process, and energy industries, by offering solutions for the utilization of its material technology. With its Geoprime solution, the company offers an alternative for producing sustainable and low-carbon concrete and concrete applications. The solution can be used to convert previously under-used or unused industrial side streams into a substitute for cement used in the production of concrete. Its product offering is divided into four four product segments: mining, waste upcycling, construction elements, and concrete products.


Founded

2016

HQ

Finland

Employees

46

Financials (LTM)

Revenue: $2M
EBITDA: ($4M)

EV

$35M

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Betolar Financials

Betolar reported last 12-month revenue of $2M and negative EBITDA of ($4M).

In the same LTM period, Betolar generated ($4M) in EBITDA losses and had net loss of ($7M).

Revenue (LTM)


Betolar P&L

In the most recent fiscal year, Betolar reported revenue of $1M and EBITDA of ($4M).

Betolar is unprofitable as of last fiscal year, with gross margin of 75%, EBITDA margin of (338%), and net margin of (635%).

See analyst estimates for Betolar
LTMLast FY202320242025202620272028
Revenue$2M$1M$600K$886K$1M
Gross Profit-$842K$395K$656K$842K
Gross Margin-75%66%74%76%
EBITDA($4M)($4M)($13M)($6M)($4M)
EBITDA Margin(195%)(338%)(2121%)(692%)(343%)
EBIT Margin(409%)(609%)(2573%)(1046%)(617%)
Net Profit($7M)($7M)($15M)($9M)($7M)
Net Margin(321%)(635%)(2553%)(1015%)(643%)
Net Debt-$9M---

Financial data powered by Morningstar, Inc.

Betolar Stock Performance

Betolar has current market cap of $33M, and enterprise value of $35M.

Market Cap Evolution


Betolar's stock price is $1.51.

Betolar share price decreased by 2.8% in the last 30 days, and increased by 18.1% in the last year.

Betolar has an EPS (earnings per share) of $-0.33.

See more trading valuation data for Betolar
EVMarket CapPrice 1DPrice 1MPrice 3MPrice 12MEPS
$35M$33M6.9%-2.8%43.3%18.1%$-0.33

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Betolar Valuation Multiples

Betolar trades at 17.1x EV/Revenue multiple, and (8.7x) EV/EBITDA.

See NTM and 2027E valuation multiples for Betolar

EV / Revenue (LTM)


Betolar Financial Valuation Multiples

As of June 3, 2026, Betolar has market cap of $33M and EV of $35M.

Betolar has a P/E ratio of (4.9x).

LTMLast FY202320242025202620272028
EV/Revenue17.1x31.4x58.5x39.6x31.8x
EV/EBITDA(8.7x)(9.3x)(2.8x)(5.7x)(9.3x)
EV/EBIT(4.2x)(5.2x)(2.3x)(3.8x)(5.2x)
EV/Gross Profit-41.6x88.7x53.4x41.6x
P/E(4.9x)(4.6x)(2.1x)(3.6x)(4.6x)
EV/FCF(10.0x)(9.9x)(2.0x)(3.9x)(6.1x)

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

Verified Betolar 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.

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Betolar Margins & Growth Rates

Betolar grew revenue by 200% but EBITDA decreased by 7% in the last fiscal year.

In the most recent fiscal year, Betolar reported gross margin of 75%, EBITDA margin of (338%), and net margin of (635%).

See estimated margins and future growth rates for Betolar

Betolar Margins

Last FY202420252026202720282029
Gross Margin75%74%76%-
EBITDA Margin(338%)(692%)(343%)(105%)
EBIT Margin(609%)(1046%)(617%)(313%)
Net Margin(635%)(1015%)(643%)(174%)
FCF Margin(317%)(1025%)(526%)(105%)

Betolar Growth Rates

FY+1/FY23/2424/2525/2626/2727/2828/29
Revenue Growth200%48%24%204%
Gross Profit Growth-66%28%-
EBITDA Growth(7%)(52%)(39%)(7%)
EBIT Growth54%(40%)(27%)54%
Net Profit Growth(18%)(41%)(21%)(18%)
FCF Growth(1%)(47%)(36%)(40%)

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

Betolar Operational KPIs

Betolar's revenue per employee in the last FY averaged $0.0M, while opex per employee averaged $0.2M for the same period.

Betolar's Rule of 40 is 98% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Betolar's Rule of X is 404% (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 Betolar
LTMLast FY202320242025202620272028
Rule of 40(73%)98%---
Bessemer Rule of X110%404%---
Revenue per Employee-$0.0M---
Opex per Employee-$0.2M---
S&M Expenses to Revenue-13%54%23%13%
G&A Expenses to Revenue-97%364%129%98%
R&D Expenses to Revenue-32%161%36%32%
Opex to Revenue-685%2639%1120%694%

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

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Betolar Competitors

Betolar competitors include Zaklady Magnezytowe Ropczyce, Concesur, Rias, Prefa Group, Eternit, Termo-Rex, Metro Performance Glass, Forbuild, Honey Payment Group and Titan Cement.

Most Betolar public comparables operate across Building Materials.

EV/RevenueEV/EBITDA
Last FYLTM2027ELast FYLTM2027E
Zaklady Magnezytowe Ropczyce0.4x-6.6x-
Concesur----
Rias0.6x-8.1x-
Prefa Group21.6x-(20.3x)-
Eternit0.3x-2.7x-
Termo-Rex3.9x-19.7x-
Metro Performance Glass0.7x-6.1x-
Forbuild0.5x-6.1x-

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Betolar VC Funding History

Before going public, Betolar raised $8M in total equity funding, across 2 rounds.


Betolar Funding Rounds

DateStageRaised FromRaisedValuationRev. MultipleDeal Summary
Sep-21Series AKiilto Ventures; Nidoco$6M-Betolar is a materials technology company developing low-carbon construction solutions using its Geoprime geopolymer technology to reduce CO2 emissions in the concrete industry by replacing cement and utilizing industrial side streams. The company targets the green transformation of construction, process, and energy industries with cost-competitive alternatives to traditional materials. In September 2021, Betolar raised EUR 5 million from investors including Nidoco, Kiilto Ventures, Ahti Invest, and Kilo Invest to accelerate product development, research environmentally friendly raw materials, develop new production solutions, and build an AI platform. Nidoco, a Swedish investor, led the round, while Kiilto Ventures sought partnerships aligning with its environmental leadership goals in construction materials. The funds supported pilot and cooperation agreements with partners like Kiilto Oy for low-carbon floor screeds, Keliber Oy, JA-KO Betoni Oy, and others to commercialize solutions. Betolar's market position benefited from favorable real estate demand and regulatory pushes for sustainable construction in 2021. Following the round, the company pursued further financing, including a EUR 7 million capital loan from the Finnish Climate Fund in November 2021 for AI platform development and a December 2021 IPO on Nasdaq First North raising EUR 35 million at a subscription price of EUR 5.74 per share for international expansion.
Nov-20SeedTaaleri; Valve Ventures; Voima Ventures$2M-Betolar is a Finnish materials technology company founded in 2016, specializing in geopolymer-based, low-carbon construction materials that replace traditional cement, reducing carbon emissions by up to 80% and utilizing industrial side streams like ash for a circular economy approach. The company targets the construction industry with AI-empowered scalable production to minimize virgin raw material use and CO2 emissions. On November 17, 2020, Betolar closed a €2 million funding round led by Voima Ventures, with participation from Taaleri Investments and Valve Ventures, to support commercialization, pilot projects, and market entry, particularly in Asia. This round marked new venture capital involvement for the Kannonkoski-based startup, aligning with investors' focus on deep tech, impact, and sustainability. Betolar's technology challenges the cement industry's carbon footprint and supports global circular economy goals, with potential for significant environmental and financial returns as noted by investors.

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About Betolar

When was Betolar founded?Betolar was founded in 2016.
Where is Betolar headquartered?Betolar is headquartered in Finland.
How many employees does Betolar have?As of today, Betolar has over 46 employees.
Is Betolar publicly listed?Yes, Betolar is a public company listed on Nasdaq Helsinki.
What is the stock symbol of Betolar?Betolar trades under BETOLAR ticker.
When did Betolar go public?Betolar went public in 2021.
Who are competitors of Betolar?Betolar main competitors include Zaklady Magnezytowe Ropczyce, Concesur, Rias, Prefa Group, Eternit, Termo-Rex, Metro Performance Glass, Forbuild, Honey Payment Group, Titan Cement.
What is the current market cap of Betolar?Betolar's current market cap is $33M.
What is the current revenue of Betolar?Betolar's last 12 months revenue is $2M.
What is the current revenue growth of Betolar?Betolar revenue growth (NTM/LTM) is 122%.
What is the current EV/Revenue multiple of Betolar?Current revenue multiple of Betolar is 17.1x.
Is Betolar profitable?No, Betolar is not profitable.
What is the current EBITDA of Betolar?Betolar has negative EBITDA and is not profitable.
What is Betolar's EBITDA margin?Betolar's last 12 months EBITDA margin is (195%).
What is the current EV/EBITDA multiple of Betolar?Current EBITDA multiple of Betolar is (8.7x).
What is the current FCF of Betolar?Betolar's last 12 months FCF is ($4M).
What is Betolar's FCF margin?Betolar's last 12 months FCF margin is (171%).
What is the current EV/FCF multiple of Betolar?Current FCF multiple of Betolar is (10.0x).
How many companies Betolar has acquired to date?Betolar hasn't acquired any companies yet (or none have been disclosed publicly).
In how many companies Betolar has invested to date?Betolar hasn't invested in any companies yet (or none have been disclosed publicly).

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