Fastly - Public Comps and Valuation Multiples

Fastly Overview

About Fastly

Fastly operates a content delivery network, which is necessary for entities to provide faster and more reliable online content. Fastly’s strategy differs from traditional CDNs, which focus on locating servers in as many locations as possible to store copies of files that consumers most use. Fastly is in far fewer sites than traditional CDNs, but it houses servers in the most network-dense data centers. Instead of simply storing static content, it allows its customers to program on its platform, enabling edge computing and better service of the more dynamic content that was traditionally not well served by CDNs. Fastly gears its service to the largest, most sophisticated enterprises rather than small companies and generated nearly three fourths of its revenue in the United States in 2024.

Founded

2011

HQ

Employees

1.1K+

Website

fastly.com

Sectors

Cloud Infrastructure
B2B SaaS
Horizontal SaaS

Financials

LTM Revenue $582M

LTM EBITDA $40.1M

EV

$1.2B

Valuation Multiples

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Fastly Financials

As of August 2025, Fastly reported last 12-month revenue of $582M and EBITDA of $40.1M.

In the same period, Fastly generated $338M in LTM gross profit and -$12.3M in net income.

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Fastly P&L

In the most recent fiscal year, Fastly reported revenue of $544M and EBITDA of -$79.1M.

Fastly 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	$582M	XXX	$544M	XXX	XXX	XXX
Gross Profit	$338M	XXX	$296M	XXX	XXX	XXX
Gross Margin	58%	XXX	54%	XXX	XXX	XXX
EBITDA	$40.1M	XXX	-$79.1M	XXX	XXX	XXX
EBITDA Margin	7%	XXX	-15%	XXX	XXX	XXX
EBIT	-$12.1M	XXX	-$154M	XXX	XXX	XXX
EBIT Margin	-2%	XXX	-28%	XXX	XXX	XXX
Net Profit	-$12.3M	XXX	-$158M	XXX	XXX	XXX
Net Margin	-2%	XXX	-29%	XXX	XXX	XXX
Net Debt	XXX	XXX	$51.4M	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Fastly including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $582M. EBITDA for the last twelve months was $40.1M. In the most recent fiscal year, Fastly achieved $544M in revenue and -$79.1M 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	$582M	Analyst estimates available to subscribers	$544M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$338M	Analyst estimates available to subscribers	$296M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	58.1% gross margin	Analyst estimates available to subscribers	54.4% 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)	$40.1M	Analyst estimates available to subscribers	-$79.1M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	6.9% EBITDA margin	Analyst estimates available to subscribers	-14.5% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	-$12.1M	Analyst estimates available to subscribers	-$154M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	-2.1% EBIT margin	Analyst estimates available to subscribers	-28.3% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	-$12.3M	Analyst estimates available to subscribers	-$158M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	-2.1% net profit margin	Analyst estimates available to subscribers	-29.1% 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	$51.4M	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Fastly

This financial data table provides comprehensive performance metrics for Fastly, 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

Fastly generated $582M in revenue over the last twelve months.
The company achieved $40.1M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $338M.
Net income over the last twelve months reached -$12.3M.

Fiscal Year Performance

In the most recent fiscal year, Fastly reported $544M in total revenue.
Fiscal year EBITDA was -$79.1M.
The company maintained a gross profit margin of 54.4% in the most recent fiscal year.
EBITDA margin for the fiscal year was -14.5%.
Net profit margin reached -29.1% in the most recent fiscal year.

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

Fastly Stock Performance

Fastly has current market cap of $1.1B, and EV of $1.2B.

Market Cap Evolution

Fastly Stock Data

As of September 12, 2025, Fastly's stock price is $8.

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$1.2B	$1.1B	XXX	XXX	XXX	XXX	$-0.08

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Fastly Valuation Multiples

Fastly's trades at 2.3x EV/Revenue multiple, and -15.5x EV/EBITDA.

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Fastly Financial Valuation Multiples

As of September 12, 2025, Fastly has market cap of $1.1B and EV of $1.2B.

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

Fastly has a P/E ratio of -92.5x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$1.1B	XXX	$1.1B	XXX	XXX	XXX
EV (current)	$1.2B	XXX	$1.2B	XXX	XXX	XXX
EV/Revenue	2.1x	XXX	2.3x	XXX	XXX	XXX
EV/EBITDA	30.7x	XXX	-15.5x	XXX	XXX	XXX
EV/EBIT	-101.4x	XXX	-8.0x	XXX	XXX	XXX
EV/Gross Profit	3.6x	XXX	n/a	XXX	XXX	XXX
P/E	-92.5x	XXX	-7.2x	XXX	XXX	XXX
EV/FCF	-209.5x	XXX	-59.0x	XXX	XXX	XXX

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

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Fastly Margins & Growth Rates

Fastly's last 12 month revenue growth is 8%

Fastly's revenue per employee in the last FY averaged $0.5M, while opex per employee averaged $0.4M for the same period.

Fastly's rule of 40 is -4% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Fastly's rule of X is 26% (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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Fastly Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	8%	XXX	8%	XXX	XXX	XXX
EBITDA Margin	7%	XXX	-15%	XXX	XXX	XXX
EBITDA Growth	35%	XXX	n/a	XXX	XXX	XXX
Rule of 40	-4%	XXX	-7%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	26%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.5M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.4M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	37%	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	25%	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	83%	XXX	XXX	XXX

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

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