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Discovery Valuation Multiples

Discover revenue and EBITDA valuation multiples for Discovery and similar public comparables like NN Group, Challenger, and ASR Nederland.

Discovery Overview

About Discovery

Discovery Ltd sells multiple insurance products and provides investment management services. The company has reportable segments based on a combination of products and services which are Health South Africa, Life South Africa, Invest South Africa, Vitality South Africa, Insure South Africa, Bank South Africa, Health United Kingdom, Life United Kingdom, and other segment which include SA insure, SA bank, SA distribution, vitality group. It serves employers for health insurance, as well as individual clients who buy health and life insurance and investment products across the UK, us, China, Singapore, and Australia.


Founded

1999

HQ

South Africa
Employees

13.8K+

Website

discovery.co.za

Financials

LTM Revenue $2.6B

LTM EBITDA n/a

EV

$7.2B

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Discovery Financials

Discovery has a last 12-month revenue of $2.6B and a last 12-month EBITDA of n/a.

In the most recent fiscal year, Discovery achieved revenue of $3.7B and an EBITDA of n/a.

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

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Discovery P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $4.6B $3.7B XXX XXX XXX
Gross Profit n/a n/a XXX XXX XXX
Gross Margin NaN% NaN% XXX XXX XXX
EBITDA n/a n/a XXX XXX XXX
EBITDA Margin NaN% NaN% XXX XXX XXX
Net Profit $299M $291M XXX XXX XXX
Net Margin 6% 8% XXX XXX XXX
Net Debt n/a n/a XXX XXX XXX

Financial data powered by Morningstar, Inc.

Discovery Stock Performance

As of April 15, 2025, Discovery's stock price is ZAR 193 (or $11).

Discovery has current market cap of ZAR 129B (or $7.0B), and EV of ZAR 131B (or $7.2B).

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Discovery Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$7.2B $7.0B XXX XXX XXX XXX $0.74

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Discovery Valuation Multiples

As of April 15, 2025, Discovery has market cap of $7.0B and EV of $7.2B.

Discovery's trades at 2.8x LTM EV/Revenue multiple, and n/a LTM EBITDA.

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

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Discovery Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $7.2B XXX XXX XXX
EV/Revenue 2.3x XXX XXX XXX
EV/EBITDA n/a XXX XXX XXX
P/E 15.4x XXX XXX XXX
P/E/Growth 0.8x XXX XXX XXX
EV/FCF 119.8x XXX XXX XXX

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Discovery Valuation Multiples

Discovery's NTM/LTM revenue growth is 3%

Discovery's revenue per employee for the last fiscal year averaged $0.3M, while opex per employee averaged n/a for the same period.

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

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Discovery Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth -20% XXX XXX XXX XXX
EBITDA Margin n/a XXX XXX XXX XXX
EBITDA Growth n/a XXX XXX XXX XXX
Rule of 40 (SaaS-only) n/a XXX XXX XXX XXX
Revenue per Employee $0.3M XXX XXX XXX XXX
Opex per Employee n/a 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 n/a XXX XXX XXX XXX

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Discovery Public Comps

See public comps and valuation multiples for Insurance Carriers and Asset Management comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
ADNIC XXX XXX XXX XXX XXX XXX
Aegon XXX XXX XXX XXX XXX XXX
ASR Nederland XXX XXX XXX XXX XXX XXX
NN Group XXX XXX XXX XXX XXX XXX
Challenger 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.

Discovery M&A and Investment Activity

Discovery acquired  XXX companies to date.

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

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Latest Acquisitions by Discovery

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 Discovery

When was Discovery founded? Discovery was founded in 1999.
Where is Discovery headquartered? Discovery is headquartered in South Africa.
How many employees does Discovery have? As of today, Discovery has 13.8K+ employees.
Is Discovery publicy listed? Yes, Discovery is a public company listed on JSE.
What is the stock symbol of Discovery? Discovery trades under DSY ticker.
When did Discovery go public? Discovery went public in 1999.
Who are competitors of Discovery? Similar companies to Discovery include e.g. ADNIC, Aegon, ASR Nederland, NN Group.
What is the current market cap of Discovery? Discovery's current market cap is $7.0B
What is the current revenue of Discovery? Discovery's last 12-month revenue is $2.6B.
What is the current EV/Revenue multiple of Discovery? Current revenue multiple of Discovery is 2.8x.
What is the current revenue growth of Discovery? Discovery revenue growth between 2023 and 2024 was -20%.
Is Discovery profitable? Yes, Discovery is EBITDA-positive (as of the last 12 months).

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