Horiba - Public Comps and Valuation Multiples

Horiba Overview

About Horiba

Horiba Ltd provides analytical and measurement equipment. The company operates through five segments. The Automobile segment offers automotive validation, verification technologies, and consulting services. The Environment/Accounting Process segment provides measurement technologies for air, water, and soil quality to support environmental conservation. The Medical segment develops and distributes in vitro diagnostic systems, mainly in the field of hematology. The Science segment delivers high-performance scientific instruments and analytical solutions. The Semiconductor segment specializes in fluid control, measurement, and analysis technologies for researchers, developers, and manufacturers across regions.

Founded

1953

HQ

Employees

9.0K+

Website

horiba.com

Sectors

Sensors & Instruments
Medical Devices
DeepTech
Industry 4.0
HealthTech

Financials

LTM Revenue $2.1B

LTM EBITDA $426M

EV

$2.9B

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Horiba Financials

As of September 2025, Horiba reported last 12-month revenue of $2.1B and EBITDA of $426M.

In the same period, Horiba generated $955M in LTM gross profit and $237M in net income.

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Horiba P&L

In the most recent fiscal year, Horiba reported revenue of $2.1B and EBITDA of $412M.

Horiba 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	$2.1B	XXX	$2.1B	XXX	XXX	XXX
Gross Profit	$955M	XXX	$898M	XXX	XXX	XXX
Gross Margin	45%	XXX	43%	XXX	XXX	XXX
EBITDA	$426M	XXX	$412M	XXX	XXX	XXX
EBITDA Margin	20%	XXX	20%	XXX	XXX	XXX
EBIT	$338M	XXX	$317M	XXX	XXX	XXX
EBIT Margin	16%	XXX	15%	XXX	XXX	XXX
Net Profit	$237M	XXX	$220M	XXX	XXX	XXX
Net Margin	11%	XXX	11%	XXX	XXX	XXX
Net Debt	XXX	XXX	n/a	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Horiba including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $2.1B. EBITDA for the last twelve months was $426M. In the most recent fiscal year, Horiba achieved $2.1B in revenue and $412M 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	$2.1B	Analyst estimates available to subscribers	$2.1B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$955M	Analyst estimates available to subscribers	$898M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	44.6% gross margin	Analyst estimates available to subscribers	43.1% 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)	$426M	Analyst estimates available to subscribers	$412M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	19.9% EBITDA margin	Analyst estimates available to subscribers	19.8% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$338M	Analyst estimates available to subscribers	$317M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	15.8% EBIT margin	Analyst estimates available to subscribers	15.2% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$237M	Analyst estimates available to subscribers	$220M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	11.1% net profit margin	Analyst estimates available to subscribers	10.6% 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	n/a	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Horiba

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

Recent Performance Highlights

Horiba generated $2.1B in revenue over the last twelve months.
The company achieved $426M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $955M.
Net income over the last twelve months reached $237M.

Fiscal Year Performance

In the most recent fiscal year, Horiba reported $2.1B in total revenue.
Fiscal year EBITDA was $412M.
The company maintained a gross profit margin of 43.1% in the most recent fiscal year.
EBITDA margin for the fiscal year was 19.8%.
Net profit margin reached 10.6% in the most recent fiscal year.

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

Horiba Stock Performance

Horiba has current market cap of JPY 530B (or $3.5B), and EV of JPY 441B (or $2.9B).

Market Cap Evolution

Horiba Stock Data

As of October 17, 2025, Horiba's stock price is JPY 12620 (or $83).

See Horiba trading valuation data

EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$2.9B	$3.5B	XXX	XXX	XXX	XXX	$5.65

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Horiba Valuation Multiples

Horiba's trades at 1.4x EV/Revenue multiple, and 7.0x EV/EBITDA.

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Horiba Financial Valuation Multiples

As of October 17, 2025, Horiba has market cap of $3.5B and EV of $2.9B.

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

Horiba has a P/E ratio of 14.6x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$3.5B	XXX	$3.5B	XXX	XXX	XXX
EV (current)	$2.9B	XXX	$2.9B	XXX	XXX	XXX
EV/Revenue	1.4x	XXX	1.4x	XXX	XXX	XXX
EV/EBITDA	6.8x	XXX	7.0x	XXX	XXX	XXX
EV/EBIT	8.6x	XXX	9.1x	XXX	XXX	XXX
EV/Gross Profit	3.0x	XXX	n/a	XXX	XXX	XXX
P/E	14.6x	XXX	15.8x	XXX	XXX	XXX
EV/FCF	n/a	XXX	21.1x	XXX	XXX	XXX

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

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Horiba Margins & Growth Rates

Horiba's last 12 month revenue growth is 4%

Horiba's revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $0.1M for the same period.

Horiba's rule of 40 is 27% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Horiba's rule of X is 30% (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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Horiba Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	4%	XXX	4%	XXX	XXX	XXX
EBITDA Margin	20%	XXX	20%	XXX	XXX	XXX
EBITDA Growth	10%	XXX	-1%	XXX	XXX	XXX
Rule of 40	27%	XXX	24%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	30%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.2M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.1M	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	28%	XXX	XXX	XXX

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

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