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Black Box Valuation Multiples

Discover revenue and EBITDA valuation multiples for Black Box and similar public comparables like Inspur, Bytes Technology Group, transcosmos, Asseco SEE and more.

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 Global System Integration (GSI); 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

314

Financials (LTM)

Revenue: $687M
EBITDA: $61M

EV

$943M

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Black Box Financials

Black Box reported last 12-month revenue of $687M and EBITDA of $61M.

In the same LTM period, Black Box generated $221M in gross profit, $61M in EBITDA, and $23M in net income.

Revenue (LTM)


Black Box P&L

In the most recent fiscal year, Black Box reported revenue of $716M and EBITDA of $63M.

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

See Black Box forward-looking valuation multiples
LTMNTMLast FYFY 2026FY 2027FY 2028
Revenue$687MXXX$716MXXXXXXXXX
Gross Profit$221MXXX$104MXXXXXXXXX
Gross Margin32%XXX15%XXXXXXXXX
EBITDA$61MXXX$63MXXXXXXXXX
EBITDA Margin9%XXX9%XXXXXXXXX
EBIT Margin7%XXX7%XXXXXXXXX
Net Profit$23MXXX$25MXXXXXXXXX
Net Margin3%XXX4%XXXXXXXXX
Net Debt——$49MXXXXXXXXX

Financial data powered by Morningstar, Inc.

Black Box Stock Performance

Black Box has current market cap of $918M, and enterprise value of $943M.

Market Cap Evolution


Black Box's stock price is $5.37.

See Black Box trading valuation data
EVMarket CapPrice 1DPrice 1MPrice 3MPrice 12MEPS
$943M$918M-8.7%XXXXXXXXX$0.15

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Black Box Valuation Multiples

Black Box trades at 1.4x EV/Revenue multiple, and 15.5x EV/EBITDA.

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EV / Revenue (LTM)


Black Box Financial Valuation Multiples

As of March 16, 2026, Black Box has market cap of $918M and EV of $943M.

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

Black Box has a P/E ratio of 39.5x.

LTMNTMLast FYFY 2026FY 2027FY 2028
Market cap (current)$918MXXX$918MXXXXXXXXX
EV (current)$943MXXX$943MXXXXXXXXX
EV/Revenue1.4xXXX1.3xXXXXXXXXX
EV/EBITDA15.5xXXX14.9xXXXXXXXXX
EV/EBIT19.5xXXX19.1xXXXXXXXXX
EV/Gross Profit4.3xXXX9.1xXXXXXXXXX
P/E39.5xXXX36.3xXXXXXXXXX
EV/FCF114.2xXXX(66.1x)XXXXXXXXX

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

Verified Black Box Valuation Multiples

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Black Box Margins & Growth Rates

Black Box's revenue in the last 12 month grew by 20%.

Black Box's revenue per employee in the last FY averaged $2.2M.

Black Box's rule of 40 is 29% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Black Box's rule of X is 59% (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).

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Black Box Operational Valuation Multiples

LTMNTMLast FYFY 2026FY 2027FY 2028
Revenue Growth20%XXX(4%)XXXXXXXXX
EBITDA Margin9%XXX9%XXXXXXXXX
EBITDA Growth27%XXX(4%)XXXXXXXXX
Rule of 40—XXX29%XXXXXXXXX
Bessemer Rule of X—XXX59%XXXXXXXXX
Revenue per Employee—XXX$2.2MXXXXXXXXX
S&M Expenses to Revenue—XXX1%XXXXXXXXX
G&A Expenses to Revenue—XXX2%XXXXXXXXX
Opex to Revenue—XXX8%XXXXXXXXX

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

Valuation Multiples Across 230+ Verticals

Black Box Public Comps

See public comps and valuation multiples for other IT Consulting comps.

EV/RevenueEV/EBITDA
LTM2026E2027ELTM2026E2027E
InspurXXXXXXXXXXXXXXXXXX
Bytes Technology GroupXXXXXXXXXXXXXXXXXX
transcosmosXXXXXXXXXXXXXXXXXX
Asseco SEEXXXXXXXXXXXXXXXXXX
AtosXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXXXXXXX

Valuation data powered by FactSet, Inc.

Black Box M&A Activity

Black Box acquired XXX companies to date.

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

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Latest Acquisitions by Black Box

Acquired CompanyValuationEV/RevenueEV/EBITDA
XXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXX

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Black Box Investment Activity

Black Box invested in XXX companies to date.

Black Box made its latest investment on XXXXXXXX, XXXXX. Black Box invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).

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Latest Investments by Black Box

CompanyValuationEV/RevenueEV/EBITDA
XXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXX

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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 over 314 employees.
Is Black Box publicly listed?Yes, Black Box is a public company listed on National Stock Exchange of India.
What is the stock symbol of Black Box?Black Box trades under BBOX ticker.
When did Black Box go public?Black Box went public in 2003.
Who are competitors of Black Box?Black Box main competitors are Inspur, Bytes Technology Group, transcosmos, Asseco SEE.
What is the current market cap of Black Box?Black Box's current market cap is $918M.
What is the current revenue of Black Box?Black Box's last 12 months revenue is $687M.
What is the current revenue growth of Black Box?Black Box revenue growth (NTM/LTM) is 20%.
What is the current EV/Revenue multiple of Black Box?Current revenue multiple of Black Box is 1.4x.
Is Black Box profitable?Yes, Black Box is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of Black Box?Black Box's last 12 months EBITDA is $61M.
What is Black Box's EBITDA margin?Black Box's last 12 months EBITDA margin is 9%.
What is the current EV/EBITDA multiple of Black Box?Current EBITDA multiple of Black Box is 15.5x.
What is the current FCF of Black Box?Black Box's last 12 months FCF is $8M.
What is Black Box's FCF margin?Black Box's last 12 months FCF margin is 1%.
What is the current EV/FCF multiple of Black Box?Current FCF multiple of Black Box is 114.2x.

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