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Enapter Valuation Multiples
Discover revenue and EBITDA valuation multiples for Enapter and similar public comparables like Monbat, Wallbox, EiDF SOLAR, Solarium Green Energy and more.
Enapter Overview
About Enapter
Enapter AG is engaged in research and development in the field of hydrogen systems with a focus on electrolysis, project management in Renewable Energy Systems and Smart-Grid Technology, software development for Smart Grid, Smart Energy and Industry 4.0 and Internet of Things (IoT), and manufacturing and production, design, planning, trading and resale of electrolysers and similar products and related software and control systems. Specifically, the Enapter Group develops and manufactures patented electrolysers based on Anion Exchange Membrane (AEM) technology. the Group had only one reportable segment which is the design and production of hydrogen generators based on patented anion exchange membrane electrolysis (AEM electrolysis) and pursues.
Founded
2004
HQ
Employees
151
Website
Financials (LTM)
EV
$89M
Enapter Financials
Enapter reported last 12-month revenue of $32M and negative EBITDA of ($16M).
In the same LTM period, Enapter generated $11M in gross profit, ($16M) in EBITDA losses, and had net loss of ($28M).
Revenue (LTM)
Enapter P&L
In the most recent fiscal year, Enapter reported revenue of $25M and EBITDA of ($8M).
Enapter expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $32M | XXX | $25M | XXX | XXX | XXX |
| Gross Profit | $11M | XXX | $12M | XXX | XXX | XXX |
| Gross Margin | 35% | XXX | 47% | XXX | XXX | XXX |
| EBITDA | ($16M) | XXX | ($8M) | XXX | XXX | XXX |
| EBITDA Margin | (49%) | XXX | (31%) | XXX | XXX | XXX |
| EBIT Margin | (69%) | XXX | (58%) | XXX | XXX | XXX |
| Net Profit | ($28M) | XXX | ($24M) | XXX | XXX | XXX |
| Net Margin | (90%) | XXX | (93%) | XXX | XXX | XXX |
| Net Debt | — | — | $38M | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Enapter Stock Performance
Enapter has current market cap of $48M, and enterprise value of $89M.
Market Cap Evolution
Enapter's stock price is $1.50.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $89M | $48M | 0.0% | XXX | XXX | XXX | $-0.73 |
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Start Free TrialEnapter Valuation Multiples
Enapter trades at 2.8x EV/Revenue multiple, and (5.7x) EV/EBITDA.
EV / Revenue (LTM)
Enapter Financial Valuation Multiples
As of April 20, 2026, Enapter has market cap of $48M and EV of $89M.
Equity research analysts estimate Enapter's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Enapter has a P/E ratio of (1.7x).
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $48M | XXX | $48M | XXX | XXX | XXX |
| EV (current) | $89M | XXX | $89M | XXX | XXX | XXX |
| EV/Revenue | 2.8x | XXX | 3.5x | XXX | XXX | XXX |
| EV/EBITDA | (5.7x) | XXX | (11.3x) | XXX | XXX | XXX |
| EV/EBIT | (4.1x) | XXX | (6.0x) | XXX | XXX | XXX |
| EV/Gross Profit | 8.1x | XXX | 7.5x | XXX | XXX | XXX |
| P/E | (1.7x) | XXX | (2.0x) | XXX | XXX | XXX |
| EV/FCF | (4.1x) | XXX | (5.3x) | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Enapter 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.
Enapter Margins & Growth Rates
Enapter's revenue in the last 12 month grew by 59%.
Enapter's revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $0.2M for the same period.
Enapter's rule of 40 is 66% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Enapter's rule of X is 170% (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).
Enapter Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 59% | XXX | 3% | XXX | XXX | XXX |
| EBITDA Margin | (49%) | XXX | (31%) | XXX | XXX | XXX |
| EBITDA Growth | (104%) | XXX | 172% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 66% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 170% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.2M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.2M | XXX | XXX | XXX |
| S&M Expenses to Revenue | — | XXX | 3% | XXX | XXX | XXX |
| G&A Expenses to Revenue | — | XXX | 14% | XXX | XXX | XXX |
| R&D Expenses to Revenue | — | XXX | 1% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 127% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Enapter Public Comps
See public comps and valuation multiples for other Energy Equipment and Renewable Energy comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Enapter | XXX | XXX | XXX | XXX | XXX | XXX |
| Monbat | XXX | XXX | XXX | XXX | XXX | XXX |
| Wallbox | XXX | XXX | XXX | XXX | XXX | XXX |
| EiDF SOLAR | XXX | XXX | XXX | XXX | XXX | XXX |
| Solarium Green Energy | XXX | XXX | XXX | XXX | XXX | XXX |
| Friwo | 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.
Enapter M&A Activity
Enapter acquired XXX companies to date.
Last acquisition by Enapter was on XXXXXXXX, XXXXX. Enapter acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Enapter
| 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 |
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Start Free TrialEnapter Investment Activity
Enapter invested in XXX companies to date.
Enapter made its latest investment on XXXXXXXX, XXXXX. Enapter invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Enapter
| 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 Enapter
| When was Enapter founded? | Enapter was founded in 2004. |
| Where is Enapter headquartered? | Enapter is headquartered in Germany. |
| How many employees does Enapter have? | As of today, Enapter has over 151 employees. |
| Is Enapter publicly listed? | Yes, Enapter is a public company listed on Frankfurt Stock Exchange. |
| What is the stock symbol of Enapter? | Enapter trades under H2O ticker. |
| When did Enapter go public? | Enapter went public in 2020. |
| Who are competitors of Enapter? | Enapter main competitors are Monbat, Wallbox, EiDF SOLAR, Solarium Green Energy. |
| What is the current market cap of Enapter? | Enapter's current market cap is $48M. |
| What is the current revenue of Enapter? | Enapter's last 12 months revenue is $32M. |
| What is the current revenue growth of Enapter? | Enapter revenue growth (NTM/LTM) is 59%. |
| What is the current EV/Revenue multiple of Enapter? | Current revenue multiple of Enapter is 2.8x. |
| Is Enapter profitable? | No, Enapter is not profitable. |
| What is the current EBITDA of Enapter? | Enapter has negative EBITDA and is not profitable. |
| What is Enapter's EBITDA margin? | Enapter's last 12 months EBITDA margin is (49%). |
| What is the current EV/EBITDA multiple of Enapter? | Current EBITDA multiple of Enapter is (5.7x). |
| What is the current FCF of Enapter? | Enapter's last 12 months FCF is ($21M). |
| What is Enapter's FCF margin? | Enapter's last 12 months FCF margin is (68%). |
| What is the current EV/FCF multiple of Enapter? | Current FCF multiple of Enapter is (4.1x). |
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