FTC Solar Valuation Multiples

FTC Solar Overview

About FTC Solar

FTC Solar Inc is a provider of solar tracker systems, supported by proprietary software and value-added engineering services. The company's Solar tracker systems move solar panels throughout the day to maintain an optimal orientation relative to the sun, thereby increasing the amount of solar energy produced at a solar installation. It focuses on providing differentiated products, software, and services that maximize energy generation. The company has launched a new mounting solution to support the installation and use of U.S. manufactured thin-film modules by project owners. The only segment the company is engaged in is the Manufacturing and Servicing of Solar tracker systems.

Founded

2017

HQ

Employees

213

Website

ftcsolar.com

Sectors

Clean TechnologyRenewable Energy

Financials (LTM)

Revenue: $116M

EBITDA: ($20M)

EV

$61M

Valuation Multiples

Multiples.vc

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FTC Solar Financials

FTC Solar reported last 12-month revenue of $116M and negative EBITDA of ($20M).

In the same LTM period, FTC Solar generated $12M in gross profit, ($20M) in EBITDA losses, and had net loss of ($61M).

FTC Solar P&L

In the most recent fiscal year, FTC Solar reported revenue of $100M and EBITDA of ($24M).

FTC Solar expects next 12-month revenue of XXX and NTM EBITDA of XXX

FTC Solar Stock Performance

FTC Solar has current market cap of $67M, and enterprise value of $61M.

FTC Solar's stock price is $4.51.

FTC Solar Valuation Multiples

FTC Solar trades at 0.5x EV/Revenue multiple, and (3.0x) EV/EBITDA.

FTC Solar Financial Valuation Multiples

As of April 5, 2026, FTC Solar has market cap of $67M and EV of $61M.

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

FTC Solar has a P/E ratio of (1.1x).

FTC Solar Margins & Growth Rates

FTC Solar's revenue in the last 12 month grew by 56%.

FTC Solar's revenue per employee in the last FY averaged $0.5M, while opex per employee averaged $0.2M for the same period.

FTC Solar's rule of 40 is 57% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

FTC Solar's rule of X is 150% (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).

FTC Solar Public Comps

See public comps and valuation multiples for other Clean Technology and Renewable Energy comps.

FTC Solar M&A Activity

FTC Solar acquired XXX companies to date.

Last acquisition by FTC Solar was on XXXXXXXX, XXXXX. FTC Solar acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).

FTC Solar Investment Activity

FTC Solar invested in XXX companies to date.

FTC Solar made its latest investment on XXXXXXXX, XXXXX. FTC Solar invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).