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- Haiki+
Haiki+ Valuation Multiples
Haiki+ is valued at $130M as of October 2026, a 0.8x revenue multiple. In the last 12 months, Haiki+ revenue was $354M and Haiki+ EBITDA was $58M.
Haiki+ Overview
About Haiki+
Haiki+ is an Italian circular economy and environmental services group headquartered in Milan. It runs five business units covering environmental consulting, landfill and waste treatment, recycling of electrical equipment and batteries, lead recycling and metals, with about 26 proprietary facilities and about 800 employees. Consolidated revenue is about EUR 340 million according to the company website. The group was created when the environmental and circular economy activities of Innovatec were separated into Haiki+ by a reverse spin-off effective in January 2025, and its shares and warrants began trading on Euronext Growth Milan on 8 January 2025. It has grown through acquisitions including five WEEE treatment plants from the Treee group, a 51 percent stake in RaeeMan and Ecobat Resources Italy. SG Holding, which holds more than 70 percent together with concert parties, launched a voluntary tender offer in 2026.
Founded
2015
HQ
Employees
788
Website
Financials (LTM)
EV
$266M
Valuation Multiples
Start free trialHaiki+ Financials
Haiki+ reported last 12-month revenue of $354M and EBITDA of $58M.
In the same LTM period, Haiki+ generated $257M in gross profit, $58M in EBITDA, and $6M in net income.
Revenue (LTM)
Haiki+ P&L
In the most recent fiscal year, Haiki+ reported revenue of $309M and EBITDA of $49M.
Haiki+ is profitable as of last fiscal year, with gross margin of 74%, EBITDA margin of 16%, and net margin of 0%.
Financial data powered by Morningstar, Inc.
Haiki+ Stock Performance
Haiki+ has current market cap of $130M, and enterprise value of $266M.
Market Cap Evolution
Haiki+'s stock price is $1.01.
Haiki+ share price decreased by 1.1% in the last 30 days, and increased by 22.6% in the last year.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $266M | $130M | 0.0% | -1.1% | 44.2% | 22.6% | $0.00 |
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Start Free TrialHaiki+ Valuation Multiples
Haiki+ trades at 0.8x EV/Revenue multiple, and 4.6x EV/EBITDA.
EV / Revenue (LTM)
Haiki+ Financial Valuation Multiples
As of October 22, 2026, Haiki+ has market cap of $130M and EV of $266M.
Haiki+ has a P/E ratio of 22.8x.
Multiples above and below 250x are considered non-meaningful (n/m). Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Haiki+ 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.


Haiki+ Margins & Growth Rates
Haiki+ grew revenue by 17% and EBITDA by 20% in the last fiscal year.
In the most recent fiscal year, Haiki+ reported gross margin of 74%, EBITDA margin of 16%, and net margin of 0%.
Haiki+ Margins
Haiki+ Growth Rates
Data powered by FactSet, Inc. and Morningstar, Inc.
Haiki+ Operational KPIs
Haiki+'s revenue per employee in the last FY averaged $0.4M, while opex per employee averaged $0.3M for the same period.
Haiki+'s Rule of 40 is 34% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Haiki+'s Rule of X is 60% (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).
Data powered by FactSet, Inc. and Morningstar, Inc.
Haiki+ Competitors
Haiki+ competitors include Res, Pyrum Innovations, RGA Services & Cleaning, Biotrend Enerji, All Trade Recycling, Carbios, Vow, Orzel Bialy, Infragreen Group and Agilyx.
Most Haiki+ public comparables operate across Waste & Environmental Services.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $34M | $10M | 4.1x | 3.3x | 13.3x | 10.3x | |||
| $5M | ($6M) | 29.1x | 6.1x | (22.5x) | (28.5x) | |||
| $123M | $17M | 1.4x | - | 10.0x | - | |||
| $59M | $14M | 3.8x | - | 16.6x | - | |||
| - | - | - | - | - | - | |||
| $3M | ($18M) | 22.8x | 11.8x | (4.4x) | (4.4x) | |||
| $110M | ($8M) | 1.4x | 1.4x | (18.0x) | 21.2x | |||
| $148M | $19M | 0.3x | - | 2.2x | - | |||
This data is available for Pro users. Sign up to see all Haiki+ competitors and their valuation data. Start Free Trial | ||||||||
Acquisitions by Haiki+
Haiki+ has acquired 4 companies to date.
Last acquisition by Haiki+ was on July 1st 2025. Haiki+ acquired Ecobat Resources Italy for $26M (EV/Revenue multiple available to Pro users).
Latest Acquisitions by Haiki+
| Description | Ecobat Resources Italy is an Italian lead recycling company, with its subsidiary Politec, which recovers high-performance plastics. It operates plants at Paderno Dugnano near Milan, Marcianise in Caserta and Pieve di Cento in Bologna. Haiki+ acquired all of its share capital in July 2025 for a total value of EUR 22.9 million, backed by SG Holding and BPER Banca. The purchase made Haiki+ one of the main producers of recycled lead in Italy and extended its vertical integration into metals. The deal was financed with support from SG Holding and BPER Banca, and a capital increase of up to EUR 22.87 million was planned alongside it. It was classed as significant under Euronext Growth Milan rules and as a related party transaction of greater importance. | RaeeMan is an Italian company active in the collection, recovery and treatment of waste from electrical and electronic equipment. Haiki+ bought a 51 percent majority stake through its subsidiary Haiki Cobat in early 2025 for EUR 3 million in cash, with an earn-out for the sellers if RaeeMan's EBITDA exceeds EUR 1.5 million in each of 2025, 2026 and 2027. At closing on 26 March 2025 EUR 1.29 million was paid and the EUR 1.5 million balance was due within six months. The purchase fits Haiki Cobat's lithium battery recycling plant at Cobat Ecofactor. The buyer took a majority position, with the remaining 49 percent staying with the sellers, and the earn-out ties part of the price to the profitability of the business over the three years after closing. | Treee WEEE Plants is the set of three business branches that the Treee group sold to Haiki+ in late 2024. They hold five plants that treat waste electrical and electronic equipment, located in the Veneto, Lombardy, Tuscany and Lazio regions. The plants were part of the Treee group. Haiki+ paid EUR 4.15 million for the branches, which corresponds to an enterprise value of EUR 7.2 million including financial debt. The perimeter strengthened the buyer's position in the Italian recycling of household appliances and electronics, a segment of waste treatment regulated by national producer responsibility rules. The branches were sold as going concerns rather than as shares of a company, so the buyer took over the plants and their activity directly. The acquisition closed on 2 December 2024. | Green LuxCo Capital is a Luxembourg holding company that owns 70 percent of the share capital of Ecosavona, an Italian waste business. Ecosavona is a limited company that manages the Boscaccio landfill in Vado Ligure, in the province of Savona, where it treats, disposes of and recovers non-hazardous municipal and special waste. It also recovers energy from landfill biogas. In February 2024 the Innovatec group acquired 50.1 percent of Green LuxCo. The holding sits in the Haiki+ group, which took over Innovatec's environmental business in a January 2025 spin-off. The seller of the 2024 stake was Sostenya Group. The holding does not run operations itself and serves as the ownership vehicle for the landfill business. |
| HQ Country | ||||
| HQ City | - | - | - | - |
| Deal Date | 1 Jul 2025 | 26 Mar 2025 | 2 Dec 2024 | 29 Feb 2024 |
| Valuation | $26M | $6M | $8M | $50M |
| EV/Revenue | ||||
| EV/EBITDA | ||||
This data is available for Pro users. Sign up to see all Haiki+ acquisitions and their M&A valuation multiples. Start Free Trial | ||||
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Start Free TrialAbout Haiki+
| When was Haiki+ founded? | Haiki+ was founded in 2015. |
| Where is Haiki+ headquartered? | Haiki+ is headquartered in Italy. |
| How many employees does Haiki+ have? | As of today, Haiki+ has over 788 employees. |
| Who is the CEO of Haiki+? | Haiki+'s CEO is Giovanni Rosti. |
| Is Haiki+ publicly listed? | Yes, Haiki+ is a public company listed on Borsa Italiana. |
| What is the stock symbol of Haiki+? | Haiki+ trades under HIK ticker. |
| When did Haiki+ go public? | Haiki+ went public in 2025. |
| Who are competitors of Haiki+? | Haiki+ main competitors include Res, Pyrum Innovations, RGA Services & Cleaning, Biotrend Enerji, All Trade Recycling, Carbios, Vow, Orzel Bialy, Infragreen Group, Agilyx. |
| What is the current market cap of Haiki+? | Haiki+'s current market cap is $130M. |
| What is the current revenue of Haiki+? | Haiki+'s last 12 months revenue is $354M. |
| What is the current revenue growth of Haiki+? | Haiki+ revenue growth (NTM/LTM) is 10%. |
| What is the current EV/Revenue multiple of Haiki+? | Current revenue multiple of Haiki+ is 0.8x. |
| What is the current EBITDA of Haiki+? | Haiki+'s last 12 months EBITDA is $58M. |
| What is Haiki+'s EBITDA margin? | Haiki+'s last 12 months EBITDA margin is 16%. |
| What is the current EV/EBITDA multiple of Haiki+? | Current EBITDA multiple of Haiki+ is 4.6x. |
| What is the current FCF of Haiki+? | Haiki+'s last 12 months FCF is $3M. |
| What is Haiki+'s FCF margin? | Haiki+'s last 12 months FCF margin is 1%. |
| What is the current EV/FCF multiple of Haiki+? | Current FCF multiple of Haiki+ is 91.7x. |
| How many companies Haiki+ has acquired to date? | As of October 2026, Haiki+ has acquired 4 companies. |
| What was the largest acquisition by Haiki+? | $50M acquisition of Green LuxCo Capital on 29th February 2024 was the largest M&A Haiki+ has done to date. |
| What companies Haiki+ acquired? | Haiki+ acquired Green LuxCo Capital, Ecobat Resources Italy, Treee WEEE Plants, and RaeeMan. |
| In how many companies Haiki+ has invested to date? | Haiki+ hasn't invested in any companies yet (or none have been disclosed publicly). |
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