HBX Group - Public Comps and Valuation Multiples

HBX Group Overview

About HBX Group

HBX Group International PLC is a travel-tech company. The company is engaged in the intermediation of hotel accommodations and complementary travel products between travel suppliers and travel distributors. With the help of its subsidiaries, the Group also assists hotels in optimizing their direct online channel, creating booking engines, and supporting digital marketing. The company's maximum revenue is derived from hotel bookings.

Founded

2023

HQ

Employees

n/a

Website

hbxgroup.com

Sectors

Travel & Hospitality Software
Online Travel
B2B Marketplaces
TravelTech
B2B SaaS
Vertical SaaS

Financials

LTM Revenue $845M

LTM EBITDA $496M

EV

$3.0B

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HBX Group Financials

As of September 2025, HBX Group reported last 12-month revenue of $845M and EBITDA of $496M.

In the same period, HBX Group generated $773M in LTM gross profit and -$84.9M in net income.

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HBX Group P&L

In the most recent fiscal year, HBX Group reported revenue of $859M and EBITDA of $415M.

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

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$845M	XXX	$859M	XXX	XXX	XXX
Gross Profit	$773M	XXX	$792M	XXX	XXX	XXX
Gross Margin	91%	XXX	92%	XXX	XXX	XXX
EBITDA	$496M	XXX	$415M	XXX	XXX	XXX
EBITDA Margin	59%	XXX	48%	XXX	XXX	XXX
EBIT	$291M	XXX	$311M	XXX	XXX	XXX
EBIT Margin	35%	XXX	36%	XXX	XXX	XXX
Net Profit	-$84.9M	XXX	-$27.8M	XXX	XXX	XXX
Net Margin	-10%	XXX	-3%	XXX	XXX	XXX
Net Debt	XXX	XXX	$736M	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for HBX Group including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $845M. EBITDA for the last twelve months was $496M. In the most recent fiscal year, HBX Group achieved $859M in revenue and $415M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$845M	Analyst estimates available to subscribers	$859M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$773M	Analyst estimates available to subscribers	$792M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	91.5% gross margin	Analyst estimates available to subscribers	92.2% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$496M	Analyst estimates available to subscribers	$415M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	58.7% EBITDA margin	Analyst estimates available to subscribers	48.3% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$291M	Analyst estimates available to subscribers	$311M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	34.5% EBIT margin	Analyst estimates available to subscribers	36.2% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	-$84.9M	Analyst estimates available to subscribers	-$27.8M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	-10.0% net profit margin	Analyst estimates available to subscribers	-3.2% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	$736M	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for HBX Group

This financial data table provides comprehensive performance metrics for HBX Group, a company based in Spain. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

HBX Group generated $845M in revenue over the last twelve months.
The company achieved $496M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $773M.
Net income over the last twelve months reached -$84.9M.

Fiscal Year Performance

In the most recent fiscal year, HBX Group reported $859M in total revenue.
Fiscal year EBITDA was $415M.
The company maintained a gross profit margin of 92.2% in the most recent fiscal year.
EBITDA margin for the fiscal year was 48.3%.
Net profit margin reached -3.2% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for HBX Group. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

HBX Group Stock Performance

HBX Group has current market cap of EUR 1.7B (or $2.0B), and EV of EUR 2.6B (or $3.0B).

Market Cap Evolution

HBX Group Stock Data

As of October 14, 2025, HBX Group's stock price is EUR 7 (or $8).

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$3.0B	$2.0B	XXX	XXX	XXX	XXX	$0.53

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HBX Group Valuation Multiples

HBX Group's trades at 3.5x EV/Revenue multiple, and 7.0x EV/EBITDA.

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HBX Group Financial Valuation Multiples

As of October 14, 2025, HBX Group has market cap of $2.0B and EV of $3.0B.

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

HBX Group has a P/E ratio of -23.6x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$2.0B	XXX	$2.0B	XXX	XXX	XXX
EV (current)	$3.0B	XXX	$3.0B	XXX	XXX	XXX
EV/Revenue	3.6x	XXX	3.5x	XXX	XXX	XXX
EV/EBITDA	6.1x	XXX	7.0x	XXX	XXX	XXX
EV/EBIT	10.4x	XXX	10.0x	XXX	XXX	XXX
EV/Gross Profit	3.9x	XXX	n/a	XXX	XXX	XXX
P/E	-23.6x	XXX	-44.2x	XXX	XXX	XXX
EV/FCF	20.5x	XXX	7.8x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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HBX Group Margins & Growth Rates

HBX Group's last 12 month revenue growth is 6%

HBX Group's revenue per employee in the last FY averaged n/a, while opex per employee averaged n/a for the same period.

HBX Group's rule of 40 is 52% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

HBX Group's rule of X is 74% (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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HBX Group Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	6%	XXX	3%	XXX	XXX	XXX
EBITDA Margin	59%	XXX	51%	XXX	XXX	XXX
EBITDA Growth	7%	XXX	16%	XXX	XXX	XXX
Rule of 40	52%	XXX	57%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	74%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	n/a	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	56%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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