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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.
2004
151
LTM Revenue $28.5M
LTM EBITDA -$7.2M
$128M
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Enapter has a last 12-month revenue of $28.5M and a last 12-month EBITDA of -$7.2M.
In the most recent fiscal year, Enapter achieved revenue of $33.9M and an EBITDA of $1.9M.
Enapter expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Enapter valuation multiples based on analyst estimates| FY 2023 | FY 2024 | FY 2025 | LTM | NTM | |
|---|---|---|---|---|---|
| Revenue | $33.9M | $22.9M | XXX | XXX | XXX |
| Gross Profit | $4.8M | $10.3M | XXX | XXX | XXX |
| Gross Margin | 14% | 45% | XXX | XXX | XXX |
| EBITDA | $1.9M | -$9.2M | XXX | XXX | XXX |
| EBITDA Margin | 6% | -40% | XXX | XXX | XXX |
| Net Profit | -$9.3M | -$13.9M | XXX | XXX | XXX |
| Net Margin | -28% | -61% | XXX | XXX | XXX |
| Net Debt | n/a | n/a | XXX | XXX | XXX |
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As of April 15, 2025, Enapter's stock price is EUR 3 (or $3).
Enapter has current market cap of EUR 84.0M (or $90.2M), and EV of EUR 119M (or $128M).
See Enapter trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $128M | $90.2M | XXX | XXX | XXX | XXX | $-0.64 |
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Sign UpAs of April 15, 2025, Enapter has market cap of $90.2M and EV of $128M.
Enapter's trades at 4.5x LTM EV/Revenue multiple, and -17.8x LTM EBITDA.
Analysts estimate Enapter's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See valuation multiples for Enapter and 10K+ public comps| FY 2024 | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|
| EV | $128M | XXX | XXX | XXX |
| EV/Revenue | 5.6x | XXX | XXX | XXX |
| EV/EBITDA | -13.9x | XXX | XXX | XXX |
| P/E | -4.5x | XXX | XXX | XXX |
| P/E/Growth | n/a | XXX | XXX | XXX |
| EV/FCF | -8.6x | 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.
Sign UpEnapter's NTM/LTM revenue growth is 76%
Enapter's revenue per employee for the last fiscal year averaged $0.2M, while opex per employee averaged $0.2M for the same period.
Over next 12 months, Enapter'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 Enapter's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See operational valuation multiples for Enapter and other 10K+ public comps| FY 2024 | NTM | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|---|
| Revenue Growth | -33% | XXX | XXX | XXX | XXX |
| EBITDA Margin | -40% | XXX | XXX | XXX | XXX |
| EBITDA Growth | -579% | XXX | XXX | XXX | XXX |
| Rule of 40 (SaaS-only) | 35% | XXX | XXX | XXX | XXX |
| Revenue per Employee | $0.2M | XXX | XXX | XXX | XXX |
| Opex per Employee | $0.2M | XXX | XXX | XXX | XXX |
| S&M Expenses to Revenue | 5% | XXX | XXX | XXX | XXX |
| G&A Expenses to Revenue | 9% | XXX | XXX | XXX | XXX |
| R&D Expenses to Revenue | 1% | XXX | XXX | XXX | XXX |
| Opex to Revenue | 82% | XXX | 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 | |
| XXX | XXX | XXX | XXX | XXX | XXX | |
| Aalberts | XXX | XXX | XXX | XXX | XXX | XXX |
| ABB India | XXX | XXX | XXX | XXX | XXX | XXX |
| Cummins India | XXX | XXX | XXX | XXX | XXX | XXX |
| Escorts Kubota | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
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Enapter acquired XXX companies to date.
Last acquisition by Enapter was XXXXXXXX, XXXXX XXXXX XXXXXX . Enapter 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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Sign Up| 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 151 employees. |
| Is Enapter publicy listed? | Yes, Enapter is a public company listed on FRA. |
| What is the stock symbol of Enapter? | Enapter trades under H2O ticker. |
| Who are competitors of Enapter? | Similar companies to Enapter include e.g. , Aalberts, ABB India, Cummins India. |
| What is the current market cap of Enapter? | Enapter's current market cap is $90.2M |
| What is the current revenue of Enapter? | Enapter's last 12-month revenue is $28.5M. |
| What is the current EBITDA of Enapter? | Enapter's last 12-month EBITDA is -$7.2M. |
| What is the current EV/Revenue multiple of Enapter? | Current revenue multiple of Enapter is 4.5x. |
| What is the current EV/EBITDA multiple of Enapter? | Current EBITDA multiple of Enapter is -17.8x. |
| What is the current revenue growth of Enapter? | Enapter revenue growth between 2023 and 2024 was -33%. |
| Is Enapter profitable? | Yes, Enapter is EBITDA-positive (as of the last 12 months). |
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