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- Friends
Friends Valuation Multiples
Friends is valued at $21M as of October 2026, a 0.9x revenue multiple. In the last 12 months, Friends revenue was $18M and Friends EBITDA was $5M.
Friends Overview
About Friends
Friends is an Italian listed investment vehicle based in Milan that was admitted to Euronext Growth Milan in August 2025 as a search fund dedicated to impact investing and to supporting Italian small and medium-sized companies through generational handovers. It was promoted by the entrepreneur Bruno Belgioco, who has more than thirty years of experience in the mobility sector, and targeted companies with an equity value between 10 and 20 million euros in sectors such as sustainable mobility, health, education, social inclusion and renewable energy. In April 2026 it completed the acquisition of the entire share capital of P.M.G. Italia, a company based in Bolzano that finances accessible mobility services through advertising concessions, in a reverse take-over that turned Friends into a listed operating group. The management of PMG reinvested part of the proceeds in new Friends shares at the IPO price of 1.20 euros.
Founded
N/A
HQ
Employees
N/A
Website
Sectors
Financials (LTM)
EV
$16M
Valuation Multiples
Start free trialFriends Financials
Friends reported last 12-month revenue of $18M and EBITDA of $5M.
In the same LTM period, Friends generated $5M in EBITDA and $1M in net income.
Friends P&L
In the most recent fiscal year, Friends reported revenue of - and EBITDA of ($57K).
Friends is unprofitable as of last fiscal year, with EBITDA margin of - and net margin of -.
Financial data powered by Morningstar, Inc.
Friends Stock Performance
Friends has current market cap of $21M, and enterprise value of $16M.
Market Cap Evolution
Friends' stock price is $1.61.
Friends has an EPS (earnings per share) of $-0.02.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $16M | $21M | 0.0% | - | - | - | $-0.02 |
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Start Free TrialFriends Valuation Multiples
Friends trades at 0.9x EV/Revenue multiple, and 3.1x EV/EBITDA.
Friends Financial Valuation Multiples
As of October 22, 2026, Friends has market cap of $21M and EV of $16M.
Friends has a P/E ratio of 18.9x.
Multiples above and below 250x are considered non-meaningful (n/m). Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Friends 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.


Friends Margins & Growth Rates
Friends decreased EBITDA by 9431% in the last fiscal year.
Friends Margins
Friends Growth Rates
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Friends Operational KPIs
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Friends Competitors
Friends competitors include Impact Fusion International, Metacare, Global Traffic Network, Illumin Holdings, Fill Up Media, Pureprofile, ISPD Network, ACCESS Newswire, Obiz and Dianomi.
Most Friends public comparables operate across Advertising & Marketing.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| - | - | - | - | - | - | |||
| $25M | $4M | 3.1x | - | 19.1x | - | |||
| $109M | ($25M) | 0.3x | 0.2x | (1.1x) | 3.0x | |||
| $102M | ($7M) | 0.0x | 0.0x | (0.4x) | 4.3x | |||
| $18M | $1M | 1.6x | 1.2x | 20.2x | 6.3x | |||
| $46M | $4M | 0.5x | 0.4x | 6.0x | 4.1x | |||
| $161M | $4M | 0.2x | 0.2x | 8.2x | 6.3x | |||
| $23M | $1M | 0.7x | 0.7x | 16.1x | 6.3x | |||
This data is available for Pro users. Sign up to see all Friends competitors and their valuation data. Start Free Trial | ||||||||
Acquisitions by Friends
Friends has acquired 1 company to date.
Last acquisition by Friends was on April 17th 2026. Friends acquired P.M.G. Italia for $14M (EV/Revenue multiple available to Pro users).
Latest Acquisitions by Friends
| Description | P.M.G. Italia is an Italian company based in Bolzano that funds accessible mobility for vulnerable people through the paid concession of advertising space. It provides guaranteed mobility services, lending equipped vehicles free of charge to institutions and third sector bodies for the transport of people with fragilities to medical visits, day centres, workplaces and schools. It also runs environmental redevelopment projects, such as tree planting and accessible parks, and training initiatives for students in schools. The company heads a group that includes P.M.G. Valore, which manages the network of sales agents, P.M.G. Call Service and a Spanish company, P.M.G. Espana E.B.I.C., in which it holds 95 percent. The group reported consolidated sales revenues of 14.095 million euros and EBITDA of about 3.525 million euros for 2024. It is chaired by Gianpaolo Accorsi. |
| HQ Country | |
| HQ City | Bolzano |
| Deal Date | 17 Apr 2026 |
| Valuation | $14M |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Friends acquisitions and their M&A valuation multiples. Start Free Trial | |
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Start Free TrialAbout Friends
| Where is Friends headquartered? | Friends is headquartered in Italy. |
| Is Friends publicly listed? | Yes, Friends is a public company listed on Borsa Italiana. |
| What is the stock symbol of Friends? | Friends trades under AMI ticker. |
| When did Friends go public? | Friends went public in 2025. |
| Who are competitors of Friends? | Friends main competitors include Impact Fusion International, Metacare, Global Traffic Network, Illumin Holdings, Fill Up Media, Pureprofile, ISPD Network, ACCESS Newswire, Obiz, Dianomi. |
| What is the current market cap of Friends? | Friends' current market cap is $21M. |
| What is the current revenue of Friends? | Friends' last 12 months revenue is $18M. |
| What is the current revenue growth of Friends? | Friends revenue growth (NTM/LTM) is 13%. |
| What is the current EV/Revenue multiple of Friends? | Current revenue multiple of Friends is 0.9x. |
| What is the current EBITDA of Friends? | Friends' last 12 months EBITDA is $5M. |
| What is Friends' EBITDA margin? | Friends' last 12 months EBITDA margin is 28%. |
| What is the current EV/EBITDA multiple of Friends? | Current EBITDA multiple of Friends is 3.1x. |
| How many companies Friends has acquired to date? | As of October 2026, Friends has acquired 1 company. |
| What was the largest acquisition by Friends? | $14M acquisition of P.M.G. Italia on 17th April 2026 was the largest M&A Friends has done to date. |
| What companies Friends acquired? | Friends acquired P.M.G. Italia. |
| In how many companies Friends has invested to date? | Friends hasn't invested in any companies yet (or none have been disclosed publicly). |
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