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D2L Inc is a learning innovation company. It provides cloud-based learning software for higher education institutions, kindergarten to grade 12 (K-12) schools and districts, and private sector enterprises. The company serves K-12, higher education, associations, and the corporate sector. Its product includes D2L Brightspace and D2L Wave. Geographically, It operates in United States, Canada and Rest of the World, where it derives maximum revenue from United States.
2011
1K+
LTM Revenue $293M
LTM EBITDA $41.2M
$456M
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
D2L has a last 12-month revenue (LTM) of $293M and a last 12-month EBITDA of $41.2M.
In the most recent fiscal year, D2L achieved revenue of $148M and an EBITDA of $10.5M.
D2L expects next 12-month revenue of XXX and NTM EBITDA of XXX
See D2L valuation multiples based on analyst estimates| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue | $293M | XXX | $148M | XXX | XXX | XXX |
| Gross Profit | $201M | XXX | $101M | XXX | XXX | XXX |
| Gross Margin | 69% | XXX | 68% | XXX | XXX | XXX |
| EBITDA | $41.2M | XXX | $10.5M | XXX | XXX | XXX |
| EBITDA Margin | 14% | XXX | 7% | XXX | XXX | XXX |
| EBIT | $13.2M | XXX | $4.5M | XXX | XXX | XXX |
| EBIT Margin | 4% | XXX | 3% | XXX | XXX | XXX |
| Net Profit | $32.2M | XXX | $18.6M | XXX | XXX | XXX |
| Net Margin | 11% | XXX | 13% | XXX | XXX | XXX |
| Net Debt | XXX | XXX | n/a | XXX | XXX | XXX |
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As of May 30, 2025, D2L's stock price is CAD 14 (or $10).
D2L has current market cap of CAD 754M (or $544M), and EV of CAD 632M (or $456M).
See D2L trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $456M | $544M | XXX | XXX | XXX | XXX | $0.41 |
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Start Free TrialAs of May 30, 2025, D2L has market cap of $544M and EV of $456M.
D2L's trades at 3.1x EV/Revenue multiple, and 47.2x EV/EBITDA.
Equity research analysts estimate D2L's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
D2L has a P/E ratio of 23.5x.
See valuation multiples for D2L and 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $544M | XXX | $544M | XXX | XXX | XXX |
| EV (current) | $456M | XXX | $456M | XXX | XXX | XXX |
| EV/Revenue | 2.2x | XXX | 3.1x | XXX | XXX | XXX |
| EV/EBITDA | 15.3x | XXX | 47.2x | XXX | XXX | XXX |
| EV/EBIT | 48.0x | XXX | 124.2x | XXX | XXX | XXX |
| EV/Gross Profit | 3.1x | XXX | n/a | XXX | XXX | XXX |
| P/E | 23.5x | XXX | 32.4x | XXX | XXX | XXX |
| EV/FCF | 15.9x | XXX | 24.7x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Start Free TrialD2L's last 12 month revenue growth is 6%
D2L's revenue per employee in the last FY averaged $0.1M, while opex per employee averaged $0.1M for the same period.
D2L's rule of 40 is 13% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
D2L's rule of X is 30% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
See operational valuation multiples for D2L and other 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 6% | XXX | 27% | XXX | XXX | XXX |
| EBITDA Margin | 14% | XXX | 7% | XXX | XXX | XXX |
| EBITDA Growth | 17% | XXX | 101% | XXX | XXX | XXX |
| Rule of 40 | 13% | XXX | 13% | XXX | XXX | XXX |
| Bessemer Rule of X | XXX | XXX | 30% | XXX | XXX | XXX |
| Revenue per Employee | XXX | XXX | $0.1M | XXX | XXX | XXX |
| Opex per Employee | XXX | XXX | $0.1M | XXX | XXX | XXX |
| S&M Expenses to Revenue | XXX | XXX | 26% | XXX | XXX | XXX |
| G&A Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| R&D Expenses to Revenue | XXX | XXX | 23% | XXX | XXX | XXX |
| Opex to Revenue | XXX | XXX | 65% | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| Alef Education | XXX | XXX | XXX | XXX | XXX | XXX |
| 51 Talk | XXX | XXX | XXX | XXX | XXX | XXX |
| Janison | XXX | XXX | XXX | XXX | XXX | XXX |
| ReadyTech | XXX | XXX | XXX | XXX | XXX | XXX |
| FLOWSPARKS | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
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D2L acquired XXX companies to date.
Last acquisition by D2L was XXXXXXXX, XXXXX XXXXX XXXXXX . D2L acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| 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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Start Free Trial| When was D2L founded? | D2L was founded in 2011. |
| Where is D2L headquartered? | D2L is headquartered in Canada. |
| How many employees does D2L have? | As of today, D2L has 1K+ employees. |
| Who is the CEO of D2L? | D2L's CEO is Mr. John Baker. |
| Is D2L publicy listed? | Yes, D2L is a public company listed on TSE. |
| What is the stock symbol of D2L? | D2L trades under DTOL ticker. |
| When did D2L go public? | D2L went public in 2021. |
| Who are competitors of D2L? | Similar companies to D2L include e.g. Alef Education, 51 Talk, Janison, ReadyTech. |
| What is the current market cap of D2L? | D2L's current market cap is $544M |
| What is the current revenue of D2L? | D2L's last 12 months revenue is $293M. |
| What is the current revenue growth of D2L? | D2L revenue growth (NTM/LTM) is 6%. |
| What is the current EV/Revenue multiple of D2L? | Current revenue multiple of D2L is 2.2x. |
| Is D2L profitable? | Yes, D2L is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of D2L? | D2L's last 12 months EBITDA is $41.2M. |
| What is D2L's EBITDA margin? | D2L's last 12 months EBITDA margin is 14%. |
| What is the current EV/EBITDA multiple of D2L? | Current EBITDA multiple of D2L is 15.3x. |
| What is the current FCF of D2L? | D2L's last 12 months FCF is $39.8M. |
| What is D2L's FCF margin? | D2L's last 12 months FCF margin is 14%. |
| What is the current EV/FCF multiple of D2L? | Current FCF multiple of D2L is 15.9x. |
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