eToro - Public Comps and Valuation Multiples

eToro Overview

About eToro

Etoro Group Ltd is a multi-asset platform supporting trading and investing in equities, cryptoassets, commodities, currencies, and options traded either as an asset or as a derivative related to different underlying asset types. The Group is engaged in one operating segment of trading activity.

Founded

2006

HQ

Employees

n/a

Website

etoro.com

Sectors

Investment Brokerage
Electronic Trading
Wealth Solutions
WealthTech
FinTech

Financials

LTM Revenue $830M

LTM EBITDA $304M

EV

$2.6B

Valuation Multiples

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eToro Financials

As of August 2025, eToro reported last 12-month revenue of $830M and EBITDA of $304M.

In the same period, eToro achieved $199M in LTM net income.

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eToro P&L

In the most recent fiscal year, eToro reported revenue of $12.6B and EBITDA of $296M.

eToro 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	$830M	XXX	$12.6B	XXX	XXX	XXX
Gross Profit	n/a	XXX	$681M	XXX	XXX	XXX
Gross Margin	n/a	XXX	5%	XXX	XXX	XXX
EBITDA	$304M	XXX	$296M	XXX	XXX	XXX
EBITDA Margin	37%	XXX	2%	XXX	XXX	XXX
EBIT	n/a	XXX	$270M	XXX	XXX	XXX
EBIT Margin	n/a	XXX	2%	XXX	XXX	XXX
Net Profit	$199M	XXX	$192M	XXX	XXX	XXX
Net Margin	24%	XXX	2%	XXX	XXX	XXX
Net Debt	XXX	XXX	n/a	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for eToro including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $830M. EBITDA for the last twelve months was $304M. In the most recent fiscal year, eToro achieved $12.6B in revenue and $296M 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	$830M	Analyst estimates available to subscribers	$12.6B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	n/a	Analyst estimates available to subscribers	$681M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	n/a	Analyst estimates available to subscribers	5.4% 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)	$304M	Analyst estimates available to subscribers	$296M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	36.6% EBITDA margin	Analyst estimates available to subscribers	2.3% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	n/a	Analyst estimates available to subscribers	$270M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	n/a	Analyst estimates available to subscribers	2.1% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$199M	Analyst estimates available to subscribers	$192M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	23.9% net profit margin	Analyst estimates available to subscribers	1.5% 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	n/a	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for eToro

This financial data table provides comprehensive performance metrics for eToro, a company based in United States of America. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

eToro generated $830M in revenue over the last twelve months.
The company achieved $304M in EBITDA over the last twelve months.
Net income over the last twelve months reached $199M.

Fiscal Year Performance

In the most recent fiscal year, eToro reported $12.6B in total revenue.
Fiscal year EBITDA was $296M.
The company maintained a gross profit margin of 5.4% in the most recent fiscal year.
EBITDA margin for the fiscal year was 2.3%.
Net profit margin reached 1.5% in the most recent fiscal year.

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

eToro Stock Performance

eToro has current market cap of $3.7B, and EV of $2.6B.

Market Cap Evolution

eToro Stock Data

As of September 12, 2025, eToro's stock price is $44.

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$2.6B	$3.7B	XXX	XXX	XXX	XXX	n/a

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eToro Valuation Multiples

eToro's trades at 0.2x EV/Revenue multiple, and 8.6x EV/EBITDA.

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eToro Financial Valuation Multiples

As of September 12, 2025, eToro has market cap of $3.7B and EV of $2.6B.

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

eToro has a P/E ratio of 18.6x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$3.7B	XXX	$3.7B	XXX	XXX	XXX
EV (current)	$2.6B	XXX	$2.6B	XXX	XXX	XXX
EV/Revenue	3.1x	XXX	0.2x	XXX	XXX	XXX
EV/EBITDA	8.4x	XXX	8.6x	XXX	XXX	XXX
EV/EBIT	n/a	XXX	9.5x	XXX	XXX	XXX
EV/Gross Profit	n/a	XXX	n/a	XXX	XXX	XXX
P/E	18.6x	XXX	19.2x	XXX	XXX	XXX
EV/FCF	n/a	XXX	9.6x	XXX	XXX	XXX

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

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eToro Margins & Growth Rates

eToro's last 12 month revenue growth is 8%

eToro's revenue per employee in the last FY averaged n/a, while opex per employee averaged n/a for the same period.

eToro's rule of 40 is 9% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

eToro's rule of X is 56% (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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eToro Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	8%	XXX	-73%	XXX	XXX	XXX
EBITDA Margin	37%	XXX	2%	XXX	XXX	XXX
EBITDA Growth	8%	XXX	113%	XXX	XXX	XXX
Rule of 40	9%	XXX	10%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	56%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	n/a	XXX	XXX	XXX
Opex per Employee	XXX	XXX	n/a	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	1%	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	1%	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	3%	XXX	XXX	XXX

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

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