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Change Financial Valuation Multiples
Discover revenue and EBITDA valuation multiples for Change Financial and similar public comparables like NETSOL Technologies, AmeriTrust, Tracxn, GetBusy and more.
Change Financial Overview
About Change Financial
Change Financial Ltd is a fintech company. It develops payment processors and provides mobile banking services through its mobile application. The company operates in a single segment, that is the development and provision of card payment software and services. The company serves business and financial institutions.
Founded
2011
HQ
Employees
80
Website
Financials (LTM)
EV
$38M
Change Financial Financials
Change Financial reported last 12-month revenue of $18M and EBITDA of $3M.
In the same LTM period, Change Financial generated $13M in gross profit, $3M in EBITDA, and $1M in net income.
Revenue (LTM)
Change Financial P&L
In the most recent fiscal year, Change Financial reported revenue of $15M and EBITDA of $2M.
Change Financial expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $18M | XXX | $15M | XXX | XXX | XXX |
| Gross Profit | $13M | XXX | $15M | XXX | XXX | XXX |
| Gross Margin | 72% | XXX | 99% | XXX | XXX | XXX |
| EBITDA | $3M | XXX | $2M | XXX | XXX | XXX |
| EBITDA Margin | 20% | XXX | 13% | XXX | XXX | XXX |
| EBIT Margin | 8% | XXX | (3%) | XXX | XXX | XXX |
| Net Profit | $1M | XXX | ($849K) | XXX | XXX | XXX |
| Net Margin | 8% | XXX | (6%) | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Change Financial Stock Performance
Change Financial has current market cap of $41M, and enterprise value of $38M.
Market Cap Evolution
Change Financial's stock price is $0.06.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $38M | $41M | -0.2% | XXX | XXX | XXX | $-0.00 |
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Start Free TrialChange Financial Valuation Multiples
Change Financial trades at 2.1x EV/Revenue multiple, and 11.0x EV/EBITDA.
EV / Revenue (LTM)
Change Financial Financial Valuation Multiples
As of March 26, 2026, Change Financial has market cap of $41M and EV of $38M.
Equity research analysts estimate Change Financial's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Change Financial has a P/E ratio of 30.2x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $41M | XXX | $41M | XXX | XXX | XXX |
| EV (current) | $38M | XXX | $38M | XXX | XXX | XXX |
| EV/Revenue | 2.1x | XXX | 2.5x | XXX | XXX | XXX |
| EV/EBITDA | 11.0x | XXX | 18.8x | XXX | XXX | XXX |
| EV/EBIT | 27.0x | XXX | (83.6x) | XXX | XXX | XXX |
| EV/Gross Profit | 3.0x | XXX | 2.5x | XXX | XXX | XXX |
| P/E | 30.2x | XXX | (48.3x) | XXX | XXX | XXX |
| EV/FCF | (23.5x) | XXX | (48.8x) | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Change Financial 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.
Change Financial Margins & Growth Rates
Change Financial's revenue in the last 12 month grew by 19%.
Change Financial's revenue per employee in the last FY averaged $0.2M.
Change Financial's rule of 40 is 39% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Change Financial's rule of X is 68% (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).
Change Financial Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 19% | XXX | 23% | XXX | XXX | XXX |
| EBITDA Margin | 20% | XXX | 13% | XXX | XXX | XXX |
| EBITDA Growth | 50% | XXX | 98% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 39% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 68% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.2M | XXX | XXX | XXX |
| S&M Expenses to Revenue | — | XXX | 1% | XXX | XXX | XXX |
| G&A Expenses to Revenue | — | XXX | 42% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 106% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Change Financial Public Comps
See public comps and valuation multiples for other Financial Services Software and Neobanking comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| NETSOL Technologies | XXX | XXX | XXX | XXX | XXX | XXX |
| AmeriTrust | XXX | XXX | XXX | XXX | XXX | XXX |
| Tracxn | XXX | XXX | XXX | XXX | XXX | XXX |
| GetBusy | XXX | XXX | XXX | XXX | XXX | XXX |
| Matriks | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Change Financial M&A Activity
Change Financial acquired XXX companies to date.
Last acquisition by Change Financial was on XXXXXXXX, XXXXX. Change Financial acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Change Financial
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
Get Verified M&A Valuation Multiples
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Start Free TrialChange Financial Investment Activity
Change Financial invested in XXX companies to date.
Change Financial made its latest investment on XXXXXXXX, XXXXX. Change Financial invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Change Financial
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Change Financial
| When was Change Financial founded? | Change Financial was founded in 2011. |
| Where is Change Financial headquartered? | Change Financial is headquartered in Australia. |
| How many employees does Change Financial have? | As of today, Change Financial has over 80 employees. |
| Is Change Financial publicly listed? | Yes, Change Financial is a public company listed on Australian Securities Exchange. |
| What is the stock symbol of Change Financial? | Change Financial trades under CCA ticker. |
| When did Change Financial go public? | Change Financial went public in 2016. |
| Who are competitors of Change Financial? | Change Financial main competitors are NETSOL Technologies, AmeriTrust, Tracxn, GetBusy. |
| What is the current market cap of Change Financial? | Change Financial's current market cap is $41M. |
| What is the current revenue of Change Financial? | Change Financial's last 12 months revenue is $18M. |
| What is the current revenue growth of Change Financial? | Change Financial revenue growth (NTM/LTM) is 19%. |
| What is the current EV/Revenue multiple of Change Financial? | Current revenue multiple of Change Financial is 2.1x. |
| Is Change Financial profitable? | Yes, Change Financial is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Change Financial? | Change Financial's last 12 months EBITDA is $3M. |
| What is Change Financial's EBITDA margin? | Change Financial's last 12 months EBITDA margin is 20%. |
| What is the current EV/EBITDA multiple of Change Financial? | Current EBITDA multiple of Change Financial is 11.0x. |
| What is the current FCF of Change Financial? | Change Financial's last 12 months FCF is ($2M). |
| What is Change Financial's FCF margin? | Change Financial's last 12 months FCF margin is (9%). |
| What is the current EV/FCF multiple of Change Financial? | Current FCF multiple of Change Financial is (23.5x). |
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