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FWD Group Holdings Valuation Multiples

Discover revenue and EBITDA valuation multiples for FWD Group Holdings and similar public comparables like Challenger, NN Group, and ASR Nederland.

FWD Group Holdings Overview

About FWD Group Holdings

FWD Group Holdings Ltd is a holding company. The Company and its subsidiaries are principally engaged in the provision of products and services focusing on life insurance, general insurance, and investment services (the Insurance Business). The operating segments of the company are each of the geographical markets in which the Operating Group operates, which are Hong Kong, Thailand, Japan, Emerging Markets & Corporate, and Others.


Founded

2013

HQ

Hong Kong
Employees

7.5K+

Website

fwd.com

Financials

Last FY Revenue $269M

Last FY EBITDA n/a

EV

$7.4B

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FWD Group Holdings Financials

In the most recent fiscal year, FWD Group Holdings achieved revenue of $269M and an EBITDA of n/a.

FWD Group Holdings expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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FWD Group Holdings P&L

NTM Last FY FY 2025 FY 2026 FY 2027
Revenue XXX $269M XXX XXX XXX
Gross Profit XXX n/a XXX XXX XXX
Gross Margin XXX n/a XXX XXX XXX
EBITDA XXX n/a XXX XXX XXX
EBITDA Margin XXX n/a XXX XXX XXX
EBIT XXX n/a XXX XXX XXX
EBIT Margin XXX n/a XXX XXX XXX
Net Profit XXX $3.1M XXX XXX XXX
Net Margin XXX 1% XXX XXX XXX
Net Debt XXX $141M XXX XXX XXX

Financial data powered by Morningstar, Inc.

FWD Group Holdings Stock Performance

As of August 18, 2025, FWD Group Holdings's stock price is HKD 38 (or $5).

FWD Group Holdings has current market cap of HKD 48.7B (or $6.2B), and EV of HKD 58.3B (or $7.4B).

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FWD Group Holdings Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$7.4B $6.2B XXX XXX XXX XXX n/a

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FWD Group Holdings Valuation Multiples

As of August 18, 2025, FWD Group Holdings has market cap of $6.2B and EV of $7.4B.

FWD Group Holdings's trades at 27.6x EV/Revenue multiple, and n/a EV/EBITDA.

Equity research analysts estimate FWD Group Holdings's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

FWD Group Holdings's P/E ratio is not available.

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FWD Group Holdings Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $6.2B XXX $6.2B XXX XXX XXX
EV (current) $7.4B XXX $7.4B XXX XXX XXX
EV/Revenue n/a XXX 27.6x XXX XXX XXX
EV/EBITDA n/a XXX n/a XXX XXX XXX
EV/EBIT n/a XXX n/a XXX XXX XXX
EV/Gross Profit n/a XXX n/a XXX XXX XXX
P/E n/a XXX 2031.0x XXX XXX XXX
EV/FCF n/a XXX 157.5x XXX XXX XXX

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FWD Group Holdings Margins & Growth Rates

FWD Group Holdings's revenue per employee in the last FY averaged $36K, while opex per employee averaged n/a for the same period.

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

FWD Group Holdings'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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FWD Group Holdings Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth n/a XXX 372% 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 $36K XXX XXX XXX
Opex per Employee XXX XXX n/a XXX XXX XXX
S&M Expenses to Revenue XXX XXX n/a 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 n/a XXX XXX XXX

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FWD Group Holdings Public Comps

See public comps and valuation multiples for Insurance Carriers comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
ADNIC XXX XXX XXX XXX XXX XXX
Aegon XXX XXX XXX XXX XXX XXX
ASR Nederland XXX XXX XXX XXX XXX XXX
NN Group XXX XXX XXX XXX XXX XXX
Challenger 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.

FWD Group Holdings M&A and Investment Activity

FWD Group Holdings acquired  XXX companies to date.

Last acquisition by FWD Group Holdings was  XXXXXXXX, XXXXX XXXXX XXXXXX . FWD Group Holdings acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by FWD Group Holdings

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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About FWD Group Holdings

When was FWD Group Holdings founded? FWD Group Holdings was founded in 2013.
Where is FWD Group Holdings headquartered? FWD Group Holdings is headquartered in Hong Kong.
How many employees does FWD Group Holdings have? As of today, FWD Group Holdings has 7.5K+ employees.
Is FWD Group Holdings publicy listed? Yes, FWD Group Holdings is a public company listed on HKG.
What is the stock symbol of FWD Group Holdings? FWD Group Holdings trades under 01828 ticker.
When did FWD Group Holdings go public? FWD Group Holdings went public in 2025.
Who are competitors of FWD Group Holdings? Similar companies to FWD Group Holdings include e.g. ADNIC, Aegon, ASR Nederland, NN Group.
What is the current market cap of FWD Group Holdings? FWD Group Holdings's current market cap is $6.2B
Is FWD Group Holdings profitable? Yes, FWD Group Holdings is EBITDA-positive (as of the last 12 months).

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