Codan Valuation Multiples

Codan Overview

About Codan

Codan designs and sells communications products and metal detection devices. Its global customer base includes military, security, emergency responders, broadcasters, government, humanitarian organizations, utilities, and mining. Earnings are skewed to its communications business. This business provides command center technology used to coordinate public transport, emergency services, utilities, and broadcasting. Codan also produces lightweight radios suitable for attaching to drones. In metal detection, it produces hand-held metal detection devices, sold to organizations and individuals such as gold prospectors and hobbyist treasure hunters. Customers also use this equipment for safety and security. About half of group revenue comes from North America, and one-fourth is from Europe.

Founded

1959

HQ

Employees

1.0K

Website

codan.com.au

Sectors

Computer HardwareDefense SystemsDefenseTech

Financials (LTM)

Revenue: $554M

EBITDA: $167M

EV

$4B

Valuation Multiples

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Codan Financials

Codan reported last 12-month revenue of $554M and EBITDA of $167M.

In the same LTM period, Codan generated $320M in gross profit, $167M in EBITDA, and $99M in net income.

Codan P&L

In the most recent fiscal year, Codan reported revenue of $473M and EBITDA of $128M.

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

Codan Stock Performance

Codan has current market cap of $4B, and enterprise value of $4B.

Codan's stock price is $23.71.

Codan Valuation Multiples

Codan trades at 7.9x EV/Revenue multiple, and 26.4x EV/EBITDA.

Codan Financial Valuation Multiples

As of April 14, 2026, Codan has market cap of $4B and EV of $4B.

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

Codan has a P/E ratio of 43.6x.

Codan Margins & Growth Rates

Codan's revenue in the last 12 month grew by 16%.

Codan's revenue per employee in the last FY averaged $0.5M, while opex per employee averaged $0.2M for the same period.

Codan's rule of 40 is 48% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Codan's rule of X is 74% (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).

Codan Public Comps

See public comps and valuation multiples for other Computer Hardware and Defense Systems comps.

Codan M&A Activity

Codan acquired XXX companies to date.

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

Codan Investment Activity

Codan invested in XXX companies to date.

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