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Fenbi Valuation Multiples

Discover revenue and EBITDA valuation multiples for Fenbi and similar public comparables like 51 Talk, Emirates Driving Co., and 3P Learning.

Fenbi Overview

About Fenbi

Fenbi Ltd operates as a non-formal vocational education and training (VET) service provider in China. The company providing a comprehensive suite of recruitment and qualification examination tutoring courses for adult students pursuing careers in government-sponsored institutions and several professions and industries. The company helps college graduates excel in the competitive selection process administered by governmental institutions and helps professionals obtain the relevant qualifications. Its segments are Tutoring services and Sales of books. The company generates the majority of its revenue from Tutoring services, which are classroom-based platforms teaching to students who physically attend the lecture centers or through an online platform.


Founded

2020

HQ

Hong Kong
Employees

7.2K+

Website

fenbi.com

Financials

LTM Revenue $409M

LTM EBITDA $38.8M

EV

$647M

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Fenbi Financials

As of September 2025, Fenbi reported last 12-month revenue of $409M and EBITDA of $38.8M.

In the same period, Fenbi generated $170M in LTM gross profit and $37.3M in net income.

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Fenbi P&L

In the most recent fiscal year, Fenbi reported revenue of $359M and EBITDA of $44.1M.

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

See Fenbi valuation multiples based on analyst estimates
LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $409M XXX $359M XXX XXX XXX
Gross Profit $170M XXX $188M XXX XXX XXX
Gross Margin 42% XXX 52% XXX XXX XXX
EBITDA $38.8M XXX $44.1M XXX XXX XXX
EBITDA Margin 9% XXX 12% XXX XXX XXX
EBIT $45.5M XXX $26.7M XXX XXX XXX
EBIT Margin 11% XXX 7% XXX XXX XXX
Net Profit $37.3M XXX $30.8M XXX XXX XXX
Net Margin 9% XXX 9% XXX XXX XXX
Net Debt XXX XXX n/a XXX XXX XXX

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Fenbi Stock Performance

Fenbi has current market cap of HKD 6.4B (or $824M), and EV of HKD 5.0B (or $647M).

Market Cap Evolution

Fenbi Stock Data

As of October 17, 2025, Fenbi's stock price is HKD 3 (or $0).

See Fenbi trading valuation data
EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$647M $824M XXX XXX XXX XXX $0.01

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Fenbi Valuation Multiples

Fenbi's trades at 1.8x EV/Revenue multiple, and 14.7x EV/EBITDA.

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Fenbi Financial Valuation Multiples

As of October 17, 2025, Fenbi has market cap of $824M and EV of $647M.

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

Fenbi has a P/E ratio of 24.1x.

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $824M XXX $824M XXX XXX XXX
EV (current) $647M XXX $647M XXX XXX XXX
EV/Revenue 1.7x XXX 1.8x XXX XXX XXX
EV/EBITDA 18.2x XXX 14.7x XXX XXX XXX
EV/EBIT 15.5x XXX 24.3x XXX XXX XXX
EV/Gross Profit 4.1x XXX n/a XXX XXX XXX
P/E 24.1x XXX 26.8x XXX XXX XXX
EV/FCF n/a XXX 18.7x XXX XXX XXX

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Fenbi Margins & Growth Rates

Fenbi's last 12 month revenue growth is 2%

Fenbi's revenue per employee in the last FY averaged $50K, while opex per employee averaged $23K for the same period.

Fenbi's rule of 40 is 13% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Fenbi's rule of X is 15% (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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Fenbi Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 2% XXX 4% XXX XXX XXX
EBITDA Margin 9% XXX 12% XXX XXX XXX
EBITDA Growth 16% XXX -5% XXX XXX XXX
Rule of 40 13% XXX 15% XXX XXX XXX
Bessemer Rule of X XXX XXX 15% XXX XXX XXX
Revenue per Employee XXX XXX $50K XXX XXX XXX
Opex per Employee XXX XXX $23K XXX XXX XXX
S&M Expenses to Revenue XXX XXX 23% XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX 8% XXX XXX XXX
Opex to Revenue XXX XXX 45% XXX XXX XXX

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Fenbi Public Comps

See public comps and valuation multiples for Education & Training and Learning Platforms comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Alef Education XXX XXX XXX XXX XXX XXX
Emirates Driving Co. XXX XXX XXX XXX XXX XXX
51 Talk XXX XXX XXX XXX XXX XXX
Legacy Education XXX XXX XXX XXX XXX XXX
3P Learning XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Fenbi M&A and Investment Activity

Fenbi acquired  XXX companies to date.

Last acquisition by Fenbi was  XXXXXXXX, XXXXX XXXXX XXXXXX . Fenbi acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Fenbi

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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About Fenbi

When was Fenbi founded? Fenbi was founded in 2020.
Where is Fenbi headquartered? Fenbi is headquartered in Hong Kong.
How many employees does Fenbi have? As of today, Fenbi has 7.2K+ employees.
Who is the CEO of Fenbi? Fenbi's CEO is Mr. Xiaolong Zhang.
Is Fenbi publicy listed? Yes, Fenbi is a public company listed on HKG.
What is the stock symbol of Fenbi? Fenbi trades under 02469 ticker.
When did Fenbi go public? Fenbi went public in 2023.
Who are competitors of Fenbi? Similar companies to Fenbi include e.g. Alef Education, Emirates Driving Co., 51 Talk, Legacy Education.
What is the current market cap of Fenbi? Fenbi's current market cap is $824M
What is the current revenue of Fenbi? Fenbi's last 12 months revenue is $409M.
What is the current revenue growth of Fenbi? Fenbi revenue growth (NTM/LTM) is 2%.
What is the current EV/Revenue multiple of Fenbi? Current revenue multiple of Fenbi is 1.7x.
Is Fenbi profitable? Yes, Fenbi is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of Fenbi? Fenbi's last 12 months EBITDA is $38.8M.
What is Fenbi's EBITDA margin? Fenbi's last 12 months EBITDA margin is 9%.
What is the current EV/EBITDA multiple of Fenbi? Current EBITDA multiple of Fenbi is 18.2x.

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