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Black Box Valuation Multiples

Discover revenue and EBITDA valuation multiples for Black Box and similar public comparables like Bravura Solutions, Atturra, and Mastech Digital.

Black Box Overview

About Black Box

Black Box Ltd along with its subsidiaries provides information, communications technology solutions provider, and an integrator that delivers technology-based solutions across world markets and verticals with a spectrum of applications and services. The company's operating segments are System Integration (SI); Technology Product Solution (TPS) and Others comprising of training and consulting services. It generates maximum revenue from the System Integration (SI) segment. The company exports its product to the Middle East/Africa, North America, Australia, New Zealand, Singapore, and Europe. Its solution line consists of unified communications, network infrastructure, data center, cyber security (CYBER-i), and digital transformation and applications.


Founded

1986

HQ

India
Employees

373

Website

blackbox.com

Financials

LTM Revenue $701M

LTM EBITDA $61.7M

EV

$658M

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Black Box Financials

Black Box has a last 12-month revenue of $701M and a last 12-month EBITDA of $61.7M.

In the most recent fiscal year, Black Box achieved revenue of $728M and an EBITDA of $37.1M.

Black Box expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Black Box P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $729M $728M XXX XXX XXX
Gross Profit $326M $389M XXX XXX XXX
Gross Margin 45% 53% XXX XXX XXX
EBITDA $20.9M $37.1M XXX XXX XXX
EBITDA Margin 3% 5% XXX XXX XXX
Net Profit $8.4M $2.8M XXX XXX XXX
Net Margin 1% 0% XXX XXX XXX
Net Debt n/a $17.6M XXX XXX XXX

Financial data powered by Morningstar, Inc.

Black Box Stock Performance

As of April 15, 2025, Black Box's stock price is INR 340 (or $4).

Black Box has current market cap of INR 57.6B (or $669M), and EV of INR 56.7B (or $658M).

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Black Box Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$658M $669M XXX XXX XXX XXX $0.18

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Black Box Valuation Multiples

As of April 15, 2025, Black Box has market cap of $669M and EV of $658M.

Black Box's trades at 0.9x LTM EV/Revenue multiple, and 10.7x LTM EBITDA.

Analysts estimate Black Box's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Black Box Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $658M XXX XXX XXX
EV/Revenue 0.9x XXX XXX XXX
EV/EBITDA 11.9x XXX XXX XXX
P/E 30.6x XXX XXX XXX
P/E/Growth 0.6x XXX XXX XXX
EV/FCF 31.7x XXX XXX XXX

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Black Box Valuation Multiples

Black Box's NTM/LTM revenue growth is 15%

Black Box's revenue per employee for the last fiscal year averaged $2.0M, while opex per employee averaged $0.2M for the same period.

Over next 12 months, Black Box's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate Black Box's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Black Box Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth 0% XXX XXX XXX XXX
EBITDA Margin 8% XXX XXX XXX XXX
EBITDA Growth 77% XXX XXX XXX XXX
Rule of 40 (SaaS-only) 23% XXX XXX XXX XXX
Revenue per Employee $2.0M XXX XXX XXX XXX
Opex per Employee $0.2M XXX XXX XXX XXX
S&M Expenses to Revenue 1% XXX XXX XXX XXX
G&A Expenses to Revenue 3% XXX XXX XXX XXX
R&D Expenses to Revenue n/a XXX XXX XXX XXX
Opex to Revenue 8% XXX XXX XXX XXX

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Black Box Public Comps

See public comps and valuation multiples for IT Consulting comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
XXX XXX XXX XXX XXX XXX
Ctac XXX XXX XXX XXX XXX XXX
Mastech Digital XXX XXX XXX XXX XXX XXX
Atturra XXX XXX XXX XXX XXX XXX
Bravura Solutions XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Black Box M&A and Investment Activity

Black Box acquired  XXX companies to date.

Last acquisition by Black Box was  XXXXXXXX, XXXXX XXXXX XXXXXX . Black Box acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Black Box

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Black Box

When was Black Box founded? Black Box was founded in 1986.
Where is Black Box headquartered? Black Box is headquartered in India.
How many employees does Black Box have? As of today, Black Box has 373 employees.
Is Black Box publicy listed? Yes, Black Box is a public company listed on BOM.
What is the stock symbol of Black Box? Black Box trades under 500463 ticker.
When did Black Box go public? Black Box went public in 2003.
Who are competitors of Black Box? Similar companies to Black Box include e.g. , Ctac, Mastech Digital, Atturra.
What is the current market cap of Black Box? Black Box's current market cap is $669M
What is the current revenue of Black Box? Black Box's last 12-month revenue is $701M.
What is the current EBITDA of Black Box? Black Box's last 12-month EBITDA is $61.7M.
What is the current EV/Revenue multiple of Black Box? Current revenue multiple of Black Box is 0.9x.
What is the current EV/EBITDA multiple of Black Box? Current EBITDA multiple of Black Box is 10.7x.
What is the current revenue growth of Black Box? Black Box revenue growth between 2023 and 2024 was 0%.
Is Black Box profitable? Yes, Black Box is EBITDA-positive (as of the last 12 months).

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