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Fortnox AB provides internet-based business applications that offer products, packages, and integrations to cover a business’s financial and administrative needs by creating easy flows in accounting, invoicing, financing, and managing employees. Its segments are Businesses, Accounting Firms, Core Products, Financial Services, and Marketplaces.
2001
761
LTM Revenue $216M
LTM EBITDA $114M
$5.1B
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
Fortnox has a last 12-month revenue of $216M and a last 12-month EBITDA of $114M.
In the most recent fiscal year, Fortnox achieved revenue of $203M and an EBITDA of $109M.
Fortnox expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Fortnox valuation multiples based on analyst estimates| FY 2023 | FY 2024 | FY 2025 | LTM | NTM | |
|---|---|---|---|---|---|
| Revenue | $163M | $203M | XXX | XXX | XXX |
| Gross Profit | $78.2M | $104M | XXX | XXX | XXX |
| Gross Margin | 48% | 51% | XXX | XXX | XXX |
| EBITDA | $84.0M | $109M | XXX | XXX | XXX |
| EBITDA Margin | 52% | 54% | XXX | XXX | XXX |
| Net Profit | $34.4M | $56.6M | XXX | XXX | XXX |
| Net Margin | 21% | 28% | XXX | XXX | XXX |
| Net Debt | n/a | n/a | XXX | XXX | XXX |
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As of April 15, 2025, Fortnox's stock price is SEK 86 (or $9).
Fortnox has current market cap of SEK 52.2B (or $5.2B), and EV of SEK 51.6B (or $5.1B).
See Fortnox trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $5.1B | $5.2B | XXX | XXX | XXX | XXX | $0.12 |
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Sign UpAs of April 15, 2025, Fortnox has market cap of $5.2B and EV of $5.1B.
Fortnox's trades at 23.7x LTM EV/Revenue multiple, and 44.9x LTM EBITDA.
Analysts estimate Fortnox's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See valuation multiples for Fortnox and 10K+ public comps| FY 2024 | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|
| EV | $5.1B | XXX | XXX | XXX |
| EV/Revenue | 25.2x | XXX | XXX | XXX |
| EV/EBITDA | 47.0x | XXX | XXX | XXX |
| P/E | 73.5x | XXX | XXX | XXX |
| P/E/Growth | 3.1x | XXX | XXX | XXX |
| EV/FCF | 95.1x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Sign UpFortnox's NTM/LTM revenue growth is 21%
Fortnox's revenue per employee for the last fiscal year averaged $0.3M, while opex per employee averaged $0.1M for the same period.
Over next 12 months, Fortnox's ratio of sales and marketing spend to revenue is estimated to be XXX , while its R&D spend to revenue to be XXX .
Analysts estimate Fortnox's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See operational valuation multiples for Fortnox and other 10K+ public comps| FY 2024 | NTM | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|---|
| Revenue Growth | 25% | XXX | XXX | XXX | XXX |
| EBITDA Margin | 54% | XXX | XXX | XXX | XXX |
| EBITDA Growth | 30% | XXX | XXX | XXX | XXX |
| Rule of 40 (SaaS-only) | 74% | XXX | XXX | XXX | XXX |
| Revenue per Employee | $0.3M | XXX | XXX | XXX | XXX |
| Opex per Employee | $0.1M | XXX | XXX | XXX | XXX |
| S&M Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| G&A Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| R&D Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| Opex to Revenue | 20% | XXX | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| Cape Range | XXX | XXX | XXX | XXX | XXX | XXX |
| Credit Clear | XXX | XXX | XXX | XXX | XXX | XXX |
| IODM | XXX | XXX | XXX | XXX | XXX | XXX |
| Reckon | XXX | XXX | XXX | XXX | XXX | XXX |
| Xero | 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.
Fortnox acquired XXX companies to date.
Last acquisition by Fortnox was XXXXXXXX, XXXXX XXXXX XXXXXX . Fortnox acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| 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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Sign Up| When was Fortnox founded? | Fortnox was founded in 2001. |
| Where is Fortnox headquartered? | Fortnox is headquartered in Sweden. |
| How many employees does Fortnox have? | As of today, Fortnox has 761 employees. |
| Who is the CEO of Fortnox? | Fortnox's CEO is Mr. Tommy Eklund. |
| Is Fortnox publicy listed? | Yes, Fortnox is a public company listed on STO. |
| What is the stock symbol of Fortnox? | Fortnox trades under FNOX ticker. |
| When did Fortnox go public? | Fortnox went public in 2007. |
| Who are competitors of Fortnox? | Similar companies to Fortnox include e.g. Cape Range, Credit Clear, IODM, Reckon. |
| What is the current market cap of Fortnox? | Fortnox's current market cap is $5.2B |
| What is the current revenue of Fortnox? | Fortnox's last 12-month revenue is $216M. |
| What is the current EBITDA of Fortnox? | Fortnox's last 12-month EBITDA is $114M. |
| What is the current EV/Revenue multiple of Fortnox? | Current revenue multiple of Fortnox is 23.7x. |
| What is the current EV/EBITDA multiple of Fortnox? | Current EBITDA multiple of Fortnox is 44.9x. |
| What is the current revenue growth of Fortnox? | Fortnox revenue growth between 2023 and 2024 was 25%. |
| Is Fortnox profitable? | Yes, Fortnox is EBITDA-positive (as of the last 12 months). |
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