EROAD - Public Comps and Valuation Multiples

EROAD Overview

About EROAD

EROAD Ltd is a New Zealand Based company which is a fully integrated technology, tolling and services provider. It designs and manufactures in-vehicle hardware operates secure payment and merchant gateways and offers web-based value-added services. The company provides electronic on-board units and software as a service to the transport industry. Its products are categorized in RUC Compliance, Health & Safety, and Fleet Management. It operates through four segments: Corporate & Development, North America, Australia, and New Zealand.

Founded

2000

HQ

Employees

355

Website

eroad.com

Sectors

Transportation & Logistics Software
IoT
DeepTech
B2B SaaS
Vertical SaaS

Financials

LTM Revenue $114M

LTM EBITDA $34.3M

EV

$211M

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EROAD Financials

As of September 2025, EROAD reported last 12-month revenue of $114M and EBITDA of $34.3M.

In the same period, EROAD generated $96.6M in LTM gross profit and -$12.1M in net income.

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EROAD P&L

In the most recent fiscal year, EROAD reported revenue of $106M and EBITDA of $28.2M.

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

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$114M	XXX	$106M	XXX	XXX	XXX
Gross Profit	$96.6M	XXX	$89.1M	XXX	XXX	XXX
Gross Margin	85%	XXX	84%	XXX	XXX	XXX
EBITDA	$34.3M	XXX	$28.2M	XXX	XXX	XXX
EBITDA Margin	30%	XXX	27%	XXX	XXX	XXX
EBIT	$4.8M	XXX	-$1.7M	XXX	XXX	XXX
EBIT Margin	4%	XXX	-2%	XXX	XXX	XXX
Net Profit	-$12.1M	XXX	$0.8M	XXX	XXX	XXX
Net Margin	-11%	XXX	1%	XXX	XXX	XXX
Net Debt	XXX	XXX	$6.7M	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for EROAD including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $114M. EBITDA for the last twelve months was $34.3M. In the most recent fiscal year, EROAD achieved $106M in revenue and $28.2M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$114M	Analyst estimates available to subscribers	$106M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$96.6M	Analyst estimates available to subscribers	$89.1M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	85.1% gross margin	Analyst estimates available to subscribers	84.1% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$34.3M	Analyst estimates available to subscribers	$28.2M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	30.2% EBITDA margin	Analyst estimates available to subscribers	26.6% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$4.8M	Analyst estimates available to subscribers	-$1.7M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	4.2% EBIT margin	Analyst estimates available to subscribers	-1.6% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	-$12.1M	Analyst estimates available to subscribers	$0.8M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	-10.6% net profit margin	Analyst estimates available to subscribers	0.8% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	$6.7M	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for EROAD

This financial data table provides comprehensive performance metrics for EROAD, a company based in New Zealand. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

EROAD generated $114M in revenue over the last twelve months.
The company achieved $34.3M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $96.6M.
Net income over the last twelve months reached -$12.1M.

Fiscal Year Performance

In the most recent fiscal year, EROAD reported $106M in total revenue.
Fiscal year EBITDA was $28.2M.
The company maintained a gross profit margin of 84.1% in the most recent fiscal year.
EBITDA margin for the fiscal year was 26.6%.
Net profit margin reached 0.8% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for EROAD. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

EROAD Stock Performance

EROAD has current market cap of NZD 352M (or $201M), and EV of NZD 370M (or $211M).

Market Cap Evolution

EROAD Stock Data

As of October 17, 2025, EROAD's stock price is NZD 2 (or $1).

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$211M	$201M	XXX	XXX	XXX	XXX	$0.01

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EROAD Valuation Multiples

EROAD's trades at 2.0x EV/Revenue multiple, and 7.7x EV/EBITDA.

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EROAD Financial Valuation Multiples

As of October 17, 2025, EROAD has market cap of $201M and EV of $211M.

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

EROAD has a P/E ratio of -16.7x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$201M	XXX	$201M	XXX	XXX	XXX
EV (current)	$211M	XXX	$211M	XXX	XXX	XXX
EV/Revenue	1.9x	XXX	2.0x	XXX	XXX	XXX
EV/EBITDA	6.2x	XXX	7.7x	XXX	XXX	XXX
EV/EBIT	43.8x	XXX	-99.3x	XXX	XXX	XXX
EV/Gross Profit	2.2x	XXX	n/a	XXX	XXX	XXX
P/E	-16.7x	XXX	361.4x	XXX	XXX	XXX
EV/FCF	58.6x	XXX	33.5x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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EROAD Margins & Growth Rates

EROAD's last 12 month revenue growth is 5%

EROAD's revenue per employee in the last FY averaged $0.3M, while opex per employee averaged $0.3M for the same period.

EROAD's rule of 40 is 31% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

EROAD's rule of X is 43% (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).

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EROAD Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	5%	XXX	7%	XXX	XXX	XXX
EBITDA Margin	30%	XXX	26%	XXX	XXX	XXX
EBITDA Growth	5%	XXX	16%	XXX	XXX	XXX
Rule of 40	31%	XXX	31%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	43%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.3M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.3M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	86%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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