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FiscalNote Valuation Multiples
Discover revenue and EBITDA valuation multiples for FiscalNote and similar public comparables like Kps, Nepa, Swvl, Aeries Technology and more.
FiscalNote Overview
About FiscalNote
FiscalNote Holdings Inc is a provider of world-wide policy and market intelligence solutions. Leveraging AI and analytics, it delivers actionable legal and policy insights for businesses, government institutions, and nonprofits. Its suite of products includes FiscalNote Core, CQ Federal, and EU Issue Tracker, facilitating effective policy management and risk mitigation. With its analysis from FrontierView, Oxford Analytica, and Dragonfly Eye, it offers geopolitical and market intelligence services. Operating as one segment, it generates revenue by integrating policy intelligence into daily operations. Geographically the company generates the majority of its revenue from North America, Europe, Australia, and Asia, with the majority generated from North America.
Founded
2022
HQ
Employees
573
Website
Sectors
Financials (LTM)
EV
$141M
FiscalNote Financials
FiscalNote reported last 12-month revenue of $92M and EBITDA of $11M.
In the same LTM period, FiscalNote generated $72M in gross profit, $11M in EBITDA, and had net loss of ($56M).
Revenue (LTM)
FiscalNote P&L
In the most recent fiscal year, FiscalNote reported revenue of — and net income of —.
FiscalNote expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $92M | XXX | — | XXX | XXX | XXX |
| Gross Profit | $72M | XXX | — | XXX | XXX | XXX |
| Gross Margin | 78% | XXX | — | XXX | XXX | XXX |
| EBITDA | $11M | XXX | — | XXX | XXX | XXX |
| EBITDA Margin | 12% | XXX | — | XXX | XXX | XXX |
| EBIT Margin | (40%) | XXX | — | XXX | XXX | XXX |
| Net Profit | ($56M) | XXX | — | XXX | XXX | XXX |
| Net Margin | (61%) | XXX | — | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
FiscalNote Stock Performance
FiscalNote has current market cap of $17M, and enterprise value of $141M.
Market Cap Evolution
FiscalNote's stock price is $1.11.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $141M | $17M | 0.0% | XXX | XXX | XXX | — |
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Start Free TrialFiscalNote Valuation Multiples
FiscalNote trades at 1.5x EV/Revenue multiple, and 12.5x EV/EBITDA.
EV / Revenue (LTM)
FiscalNote Financial Valuation Multiples
As of March 28, 2026, FiscalNote has market cap of $17M and EV of $141M.
Equity research analysts estimate FiscalNote's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
FiscalNote has a P/E ratio of (0.3x).
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $17M | XXX | $17M | XXX | XXX | XXX |
| EV (current) | $141M | XXX | $141M | XXX | XXX | XXX |
| EV/Revenue | 1.5x | XXX | — | XXX | XXX | XXX |
| EV/EBITDA | 12.5x | XXX | — | XXX | XXX | XXX |
| EV/EBIT | (3.8x) | XXX | — | XXX | XXX | XXX |
| EV/Gross Profit | 2.0x | XXX | — | XXX | XXX | XXX |
| P/E | (0.3x) | XXX | — | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified FiscalNote Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
FiscalNote Margins & Growth Rates
FiscalNote's revenue in the last 12 month declined by (10%).
FiscalNote's revenue per employee in the last FY averaged $0.2M.
FiscalNote's rule of 40 is 3% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
FiscalNote's rule of X is (12%) (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
FiscalNote Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | (10%) | XXX | — | XXX | XXX | XXX |
| EBITDA Margin | 12% | XXX | — | XXX | XXX | XXX |
| EBITDA Growth | 39% | XXX | — | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 3% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | (12%) | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.2M | XXX | XXX | XXX |
| S&M Expenses to Revenue | 27% | XXX | — | XXX | XXX | XXX |
| G&A Expenses to Revenue | 51% | XXX | — | XXX | XXX | XXX |
| R&D Expenses to Revenue | 10% | XXX | — | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
FiscalNote Public Comps
See public comps and valuation multiples for other Business Consulting and BI & Analytics Software comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Kps | XXX | XXX | XXX | XXX | XXX | XXX |
| Nepa | XXX | XXX | XXX | XXX | XXX | XXX |
| Swvl | XXX | XXX | XXX | XXX | XXX | XXX |
| Aeries Technology | XXX | XXX | XXX | XXX | XXX | XXX |
| Netum Group | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
FiscalNote M&A Activity
FiscalNote acquired XXX companies to date.
Last acquisition by FiscalNote was on XXXXXXXX, XXXXX. FiscalNote acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by FiscalNote
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialFiscalNote Investment Activity
FiscalNote invested in XXX companies to date.
FiscalNote made its latest investment on XXXXXXXX, XXXXX. FiscalNote invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by FiscalNote
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout FiscalNote
| When was FiscalNote founded? | FiscalNote was founded in 2022. |
| Where is FiscalNote headquartered? | FiscalNote is headquartered in United States. |
| How many employees does FiscalNote have? | As of today, FiscalNote has over 573 employees. |
| Who is the CEO of FiscalNote? | FiscalNote's CEO is Josh Resnik. |
| Is FiscalNote publicly listed? | Yes, FiscalNote is a public company listed on NYSE. |
| What is the stock symbol of FiscalNote? | FiscalNote trades under NOTE ticker. |
| When did FiscalNote go public? | FiscalNote went public in 2022. |
| Who are competitors of FiscalNote? | FiscalNote main competitors are Kps, Nepa, Swvl, Aeries Technology. |
| What is the current market cap of FiscalNote? | FiscalNote's current market cap is $17M. |
| What is the current revenue of FiscalNote? | FiscalNote's last 12 months revenue is $92M. |
| What is the current revenue growth of FiscalNote? | FiscalNote revenue growth (NTM/LTM) is (10%). |
| What is the current EV/Revenue multiple of FiscalNote? | Current revenue multiple of FiscalNote is 1.5x. |
| Is FiscalNote profitable? | Yes, FiscalNote is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of FiscalNote? | FiscalNote's last 12 months EBITDA is $11M. |
| What is FiscalNote's EBITDA margin? | FiscalNote's last 12 months EBITDA margin is 12%. |
| What is the current EV/EBITDA multiple of FiscalNote? | Current EBITDA multiple of FiscalNote is 12.5x. |
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