Better Collective - Public Comps and Valuation Multiples

Better Collective Overview

About Better Collective

Better Collective AS is a developer of educational platforms within the iGaming industry. The company's segment includes Publishing and Paid Media. It generates maximum revenue from the Publishing segment. The publishing business segment includes revenue from Collective’s proprietary online platforms and media partnerships, where online traffic comes either directly or through organic search results.

Founded

2002

HQ

Employees

1.6K+

Website

bettercollective.com

Sectors

Online Content & News
Online Betting
E-Sports
ViceTech
SportsTech

Financials

LTM Revenue $4.5B

LTM EBITDA $1.4B

EV

$1.1B

Valuation Multiples

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Better Collective Financials

As of September 2025, Better Collective reported last 12-month revenue of $4.5B and EBITDA of $1.4B.

In the same period, Better Collective generated $2.7B in LTM gross profit and $428M in net income.

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Better Collective P&L

In the most recent fiscal year, Better Collective reported revenue of $39.1M and EBITDA of $10.4M.

Better Collective 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	$4.5B	XXX	$39.1M	XXX	XXX	XXX
Gross Profit	$2.7B	XXX	$17.3M	XXX	XXX	XXX
Gross Margin	61%	XXX	44%	XXX	XXX	XXX
EBITDA	$1.4B	XXX	$10.4M	XXX	XXX	XXX
EBITDA Margin	31%	XXX	27%	XXX	XXX	XXX
EBIT	$846M	XXX	$7.6M	XXX	XXX	XXX
EBIT Margin	19%	XXX	19%	XXX	XXX	XXX
Net Profit	$428M	XXX	$3.6M	XXX	XXX	XXX
Net Margin	10%	XXX	9%	XXX	XXX	XXX
Net Debt	XXX	XXX	$23.4M	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Better Collective including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $4.5B. EBITDA for the last twelve months was $1.4B. In the most recent fiscal year, Better Collective achieved $39.1M in revenue and $10.4M 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	$4.5B	Analyst estimates available to subscribers	$39.1M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$2.7B	Analyst estimates available to subscribers	$17.3M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	60.6% gross margin	Analyst estimates available to subscribers	44.2% 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)	$1.4B	Analyst estimates available to subscribers	$10.4M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	31.1% EBITDA margin	Analyst estimates available to subscribers	26.7% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$846M	Analyst estimates available to subscribers	$7.6M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	19.0% EBIT margin	Analyst estimates available to subscribers	19.5% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$428M	Analyst estimates available to subscribers	$3.6M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	9.6% net profit margin	Analyst estimates available to subscribers	9.2% 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	$23.4M	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Better Collective

This financial data table provides comprehensive performance metrics for Better Collective, a company based in Sweden. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Better Collective generated $4.5B in revenue over the last twelve months.
The company achieved $1.4B in EBITDA over the last twelve months.
Gross profit for the last twelve months was $2.7B.
Net income over the last twelve months reached $428M.

Fiscal Year Performance

In the most recent fiscal year, Better Collective reported $39.1M in total revenue.
Fiscal year EBITDA was $10.4M.
The company maintained a gross profit margin of 44.2% in the most recent fiscal year.
EBITDA margin for the fiscal year was 26.7%.
Net profit margin reached 9.2% in the most recent fiscal year.

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

Better Collective Stock Performance

Better Collective has current market cap of SEK 7.4B (or $773M), and EV of SEK 10.1B (or $1.1B).

Market Cap Evolution

Better Collective Stock Data

As of October 16, 2025, Better Collective's stock price is SEK 124 (or $13).

See Better Collective trading valuation data

EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$1.1B	$773M	XXX	XXX	XXX	XXX	$0.67

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Better Collective Valuation Multiples

Better Collective's trades at 27.2x EV/Revenue multiple, and 102.0x EV/EBITDA.

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Better Collective Financial Valuation Multiples

As of October 16, 2025, Better Collective has market cap of $773M and EV of $1.1B.

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

Better Collective has a P/E ratio of 19.9x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$773M	XXX	$773M	XXX	XXX	XXX
EV (current)	$1.1B	XXX	$1.1B	XXX	XXX	XXX
EV/Revenue	2.6x	XXX	27.2x	XXX	XXX	XXX
EV/EBITDA	8.5x	XXX	102.0x	XXX	XXX	XXX
EV/EBIT	13.8x	XXX	139.9x	XXX	XXX	XXX
EV/Gross Profit	4.3x	XXX	n/a	XXX	XXX	XXX
P/E	19.9x	XXX	216.1x	XXX	XXX	XXX
EV/FCF	65.2x	XXX	841.9x	XXX	XXX	XXX

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

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Better Collective Margins & Growth Rates

Better Collective's last 12 month revenue growth is 5%

Better Collective's revenue per employee in the last FY averaged $25K, while opex per employee averaged $6K for the same period.

Better Collective's rule of 40 is 35% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Better Collective's rule of X is 44% (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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Better Collective Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	5%	XXX	233%	XXX	XXX	XXX
EBITDA Margin	31%	XXX	27%	XXX	XXX	XXX
EBITDA Growth	12%	XXX	245%	XXX	XXX	XXX
Rule of 40	35%	XXX	32%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	44%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$25K	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$6K	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	25%	XXX	XXX	XXX

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

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