Fino Payments Bank - Public Comps and Valuation Multiples

Fino Payments Bank Overview

About Fino Payments Bank

Fino Payments Bank Ltd is an Indian payments bank providing various banking and financial services, with a focus on meeting the needs of low-income families, small businesses, and rural communities. It offers various services such as savings and current accounts, money transfers, bill payments, and mobile recharges etc., and has partnered with institutions to provide customized offerings like microinsurance and micro-investments. The company operates in four segments: Treasury, Corporate Banking, Retail Banking, and Other Banking Operations. Its key revenue is derived from the Other Banking Operations segment, which includes Business Correspondent Services, Digital Payment Services, Cash Management Services, Domestic Money Transfer, Micro-ATM, and Aadhaar-enabled Payment System (AePS).

Founded

2007

HQ

Employees

2.8K+

Website

finobank.com

Sectors

Neobanking
Commercial Banking
FinTech

Financials

LTM Revenue $221M

Last FY EBITDA n/a

EV

$387M

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Fino Payments Bank Financials

As of September 2025, Fino Payments Bank reported last 12-month revenue of $221M.

In the same period, Fino Payments Bank achieved $11.6M in LTM net income.

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Fino Payments Bank P&L

In the most recent fiscal year, Fino Payments Bank reported revenue of $76.2M.

Fino Payments Bank 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	$221M	XXX	$76.2M	XXX	XXX	XXX
Gross Profit	n/a	XXX	n/a	XXX	XXX	XXX
Gross Margin	n/a	XXX	n/a	XXX	XXX	XXX
EBITDA	n/a	XXX	n/a	XXX	XXX	XXX
EBITDA Margin	n/a	XXX	n/a	XXX	XXX	XXX
EBIT	$16.6M	XXX	n/a	XXX	XXX	XXX
EBIT Margin	8%	XXX	n/a	XXX	XXX	XXX
Net Profit	$11.6M	XXX	$10.4M	XXX	XXX	XXX
Net Margin	5%	XXX	14%	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 Fino Payments Bank including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $221M.
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	$221M	Analyst estimates available to subscribers	$76.2M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	n/a	Analyst estimates available to subscribers	n/a	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	NaN% 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)	n/a	Analyst estimates available to subscribers	n/a	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	n/a	Analyst estimates available to subscribers	NaN% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$16.6M	Analyst estimates available to subscribers	n/a	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	7.5% EBIT margin	Analyst estimates available to subscribers	n/a	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$11.6M	Analyst estimates available to subscribers	$10.4M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	5.2% net profit margin	Analyst estimates available to subscribers	13.7% 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 Fino Payments Bank

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

Recent Performance Highlights

Fino Payments Bank generated $221M in revenue over the last twelve months.
Net income over the last twelve months reached $11.6M.

Fiscal Year Performance

In the most recent fiscal year, Fino Payments Bank reported $76.2M in total revenue.
The company maintained a gross profit margin of NaN% in the most recent fiscal year.
EBITDA margin for the fiscal year was NaN%.
Net profit margin reached 13.7% in the most recent fiscal year.

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

Fino Payments Bank Stock Performance

Fino Payments Bank has current market cap of INR 26.0B (or $293M), and EV of INR 34.4B (or $387M).

Market Cap Evolution

Fino Payments Bank Stock Data

As of October 14, 2025, Fino Payments Bank's stock price is INR 313 (or $4).

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$387M	$293M	XXX	XXX	XXX	XXX	$0.13

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Fino Payments Bank Valuation Multiples

Fino Payments Bank's trades at 5.3x EV/Revenue multiple, and n/a EV/EBITDA.

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Fino Payments Bank Financial Valuation Multiples

As of October 14, 2025, Fino Payments Bank has market cap of $293M and EV of $387M.

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

Fino Payments Bank has a P/E ratio of 25.2x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$293M	XXX	$293M	XXX	XXX	XXX
EV (current)	$387M	XXX	$387M	XXX	XXX	XXX
EV/Revenue	1.8x	XXX	5.3x	XXX	XXX	XXX
EV/EBITDA	n/a	XXX	n/a	XXX	XXX	XXX
EV/EBIT	23.3x	XXX	n/a	XXX	XXX	XXX
EV/Gross Profit	n/a	XXX	n/a	XXX	XXX	XXX
P/E	25.2x	XXX	28.6x	XXX	XXX	XXX
EV/FCF	n/a	XXX	-44.1x	XXX	XXX	XXX

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

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Fino Payments Bank Margins & Growth Rates

Fino Payments Bank's last 12 month revenue growth is 22%

Fino Payments Bank's revenue per employee in the last FY averaged $28K, while opex per employee averaged $23K for the same period.

Fino Payments Bank's rule of 40 is unknown (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Fino Payments Bank's rule of X is unknown (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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Fino Payments Bank Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	22%	XXX	96%	XXX	XXX	XXX
EBITDA Margin	n/a	XXX	n/a	XXX	XXX	XXX
EBITDA Growth	n/a	XXX	n/a	XXX	XXX	XXX
Rule of 40	n/a	XXX	n/a	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	n/a	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$28K	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$23K	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	2%	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	84%	XXX	XXX	XXX

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

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