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Carmat Valuation Multiples

Discover revenue and EBITDA valuation multiples for Carmat and similar public comparables like InfuSystem, Myomo, and Philips.

Carmat Overview

About Carmat

Carmat is a France-based company engaged in the development and production of heart prosthesis. It engages in the development of implantable orthotopic and biocompatible artificial heart organs for the treatment of heart failure patients. The company also develops the product's power supply system and its control and remote diagnosis systems.


Founded

2008

HQ

France
Employees

179

Website

carmatsa.com

Financials

LTM Revenue $9.9M

LTM EBITDA -$45.8M

EV

$105M

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Carmat Financials

Carmat has a last 12-month revenue of $9.9M and a last 12-month EBITDA of -$45.8M.

In the most recent fiscal year, Carmat achieved revenue of $3.1M and an EBITDA of -$49.7M.

Carmat expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Carmat P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $3.1M $7.5M XXX XXX XXX
Gross Profit -$43.5M -$30.6M XXX XXX XXX
Gross Margin -1422% -406% XXX XXX XXX
EBITDA -$49.7M -$47.2M XXX XXX XXX
EBITDA Margin -1624% -627% XXX XXX XXX
Net Profit -$66.5M -$57.7M XXX XXX XXX
Net Margin -2173% -767% XXX XXX XXX
Net Debt $13.8M $4.2M XXX XXX XXX

Financial data powered by Morningstar, Inc.

Carmat Stock Performance

As of April 15, 2025, Carmat's stock price is EUR 1 (or $1).

Carmat has current market cap of EUR 50.8M (or $54.6M), and EV of EUR 97.9M (or $105M).

See Carmat trading valuation data

Carmat Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$105M $54.6M XXX XXX XXX XXX $-1.11

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Carmat Valuation Multiples

As of April 15, 2025, Carmat has market cap of $54.6M and EV of $105M.

Carmat's trades at 10.6x LTM EV/Revenue multiple, and -2.3x LTM EBITDA.

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

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Carmat Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $105M XXX XXX XXX
EV/Revenue 14.0x XXX XXX XXX
EV/EBITDA -2.2x XXX XXX XXX
P/E -1.1x XXX XXX XXX
P/E/Growth n/a XXX XXX XXX
EV/FCF -1.9x XXX XXX XXX

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

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Carmat Valuation Multiples

Carmat's NTM/LTM revenue growth is 146%

Carmat's revenue per employee for the last fiscal year averaged $17K, while opex per employee averaged $0.1M for the same period.

Over next 12 months, Carmat'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 Carmat's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Carmat Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth 146% XXX XXX XXX XXX
EBITDA Margin -627% XXX XXX XXX XXX
EBITDA Growth -5% XXX XXX XXX XXX
Rule of 40 (SaaS-only) -482% XXX XXX XXX XXX
Revenue per Employee $17K XXX XXX XXX XXX
Opex per Employee $0.1M XXX XXX XXX XXX
S&M Expenses to Revenue n/a XXX XXX XXX XXX
G&A Expenses to Revenue n/a XXX XXX XXX XXX
R&D Expenses to Revenue n/a XXX XXX XXX XXX
Opex to Revenue 351% XXX XXX XXX XXX

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Carmat Public Comps

See public comps and valuation multiples for Medical Devices comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Philips XXX XXX XXX XXX XXX XXX
Perspective Therapeutics XXX XXX XXX XXX XXX XXX
SmartVest XXX XXX XXX XXX XXX XXX
InfuSystem XXX XXX XXX XXX XXX XXX
Myomo XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Carmat M&A and Investment Activity

Carmat acquired  XXX companies to date.

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

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Latest Acquisitions by Carmat

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 Carmat

When was Carmat founded? Carmat was founded in 2008.
Where is Carmat headquartered? Carmat is headquartered in France.
How many employees does Carmat have? As of today, Carmat has 179 employees.
Who is the CEO of Carmat? Carmat's CEO is Mr. Stephane Piat.
Is Carmat publicy listed? Yes, Carmat is a public company listed on PAR.
What is the stock symbol of Carmat? Carmat trades under ALCAR ticker.
When did Carmat go public? Carmat went public in 2010.
Who are competitors of Carmat? Similar companies to Carmat include e.g. Philips, Perspective Therapeutics, SmartVest, InfuSystem.
What is the current market cap of Carmat? Carmat's current market cap is $54.6M
What is the current revenue of Carmat? Carmat's last 12-month revenue is $9.9M.
What is the current EBITDA of Carmat? Carmat's last 12-month EBITDA is -$45.8M.
What is the current EV/Revenue multiple of Carmat? Current revenue multiple of Carmat is 10.6x.
What is the current EV/EBITDA multiple of Carmat? Current EBITDA multiple of Carmat is -2.3x.
What is the current revenue growth of Carmat? Carmat revenue growth between 2023 and 2024 was 146%.
Is Carmat profitable? Yes, Carmat is EBITDA-positive (as of the last 12 months).

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