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i3 Verticals Valuation Multiples

Discover revenue and EBITDA valuation multiples for i3 Verticals and similar public comparables like AGS Transact, One97 Communications, and Tyro Payments.

i3 Verticals Overview

About i3 Verticals

i3 Verticals Inc offers integrated payment and software solutions to small and medium-sized businesses and organizations in strategic vertical markets. Its operating segment includes Public Sector and Healthcare. The company generates maximum revenue from the Public Sector segment.


Founded

2018

HQ

United States of America
Employees

1.5K+

Website

i3verticals.com

Financials

LTM Revenue $223M

LTM EBITDA $58.8M

EV

$615M

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i3 Verticals Financials

i3 Verticals has a last 12-month revenue (LTM) of $223M and a last 12-month EBITDA of $58.8M.

In the most recent fiscal year, i3 Verticals achieved revenue of $230M and an EBITDA of $47.7M.

i3 Verticals expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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i3 Verticals P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $223M XXX $230M XXX XXX XXX
Gross Profit $159M XXX $211M XXX XXX XXX
Gross Margin 71% XXX 92% XXX XXX XXX
EBITDA $58.8M XXX $47.7M XXX XXX XXX
EBITDA Margin 26% XXX 21% XXX XXX XXX
EBIT $16.8M XXX $6.2M XXX XXX XXX
EBIT Margin 8% XXX 3% XXX XXX XXX
Net Profit $42.5M XXX $113M XXX XXX XXX
Net Margin 19% XXX 49% XXX XXX XXX
Net Debt XXX XXX n/a XXX XXX XXX

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i3 Verticals Stock Performance

As of May 30, 2025, i3 Verticals's stock price is $25.

i3 Verticals has current market cap of $603M, and EV of $615M.

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i3 Verticals Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$615M $603M XXX XXX XXX XXX $0.85

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i3 Verticals Valuation Multiples

As of May 30, 2025, i3 Verticals has market cap of $603M and EV of $615M.

i3 Verticals's trades at 2.7x EV/Revenue multiple, and 12.2x EV/EBITDA.

Equity research analysts estimate i3 Verticals's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

i3 Verticals has a P/E ratio of 14.2x.

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i3 Verticals Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $603M XXX $603M XXX XXX XXX
EV (current) $615M XXX $615M XXX XXX XXX
EV/Revenue 2.8x XXX 2.7x XXX XXX XXX
EV/EBITDA 10.5x XXX 12.2x XXX XXX XXX
EV/EBIT 36.5x XXX 61.0x XXX XXX XXX
EV/Gross Profit 3.9x XXX n/a XXX XXX XXX
P/E 14.2x XXX 6.9x XXX XXX XXX
EV/FCF 5.6x XXX 17.9x XXX XXX XXX

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i3 Verticals Margins & Growth Rates

i3 Verticals's last 12 month revenue growth is 2%

i3 Verticals's revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $0.1M for the same period.

i3 Verticals's rule of 40 is 19% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

i3 Verticals's rule of X is 32% (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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i3 Verticals Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 2% XXX 4% XXX XXX XXX
EBITDA Margin 26% XXX 22% XXX XXX XXX
EBITDA Growth 7% XXX 5% XXX XXX XXX
Rule of 40 19% XXX 24% XXX XXX XXX
Bessemer Rule of X XXX XXX 32% 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 89% XXX XXX XXX

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i3 Verticals Public Comps

See public comps and valuation multiples for Payment Service Providers and Financial Services Software comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Adyen XXX XXX XXX XXX XXX XXX
EML Payments XXX XXX XXX XXX XXX XXX
Tyro Payments XXX XXX XXX XXX XXX XXX
One97 Communications XXX XXX XXX XXX XXX XXX
AGS Transact 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.

i3 Verticals M&A and Investment Activity

i3 Verticals acquired  XXX companies to date.

Last acquisition by i3 Verticals was  XXXXXXXX, XXXXX XXXXX XXXXXX . i3 Verticals acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by i3 Verticals

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 i3 Verticals

When was i3 Verticals founded? i3 Verticals was founded in 2018.
Where is i3 Verticals headquartered? i3 Verticals is headquartered in United States of America.
How many employees does i3 Verticals have? As of today, i3 Verticals has 1.5K+ employees.
Who is the CEO of i3 Verticals? i3 Verticals's CEO is Mr. Gregory Daily.
Is i3 Verticals publicy listed? Yes, i3 Verticals is a public company listed on NAS.
What is the stock symbol of i3 Verticals? i3 Verticals trades under IIIV ticker.
When did i3 Verticals go public? i3 Verticals went public in 2018.
Who are competitors of i3 Verticals? Similar companies to i3 Verticals include e.g. Adyen, EML Payments, Tyro Payments, One97 Communications.
What is the current market cap of i3 Verticals? i3 Verticals's current market cap is $603M
What is the current revenue of i3 Verticals? i3 Verticals's last 12 months revenue is $223M.
What is the current revenue growth of i3 Verticals? i3 Verticals revenue growth (NTM/LTM) is 2%.
What is the current EV/Revenue multiple of i3 Verticals? Current revenue multiple of i3 Verticals is 2.8x.
Is i3 Verticals profitable? Yes, i3 Verticals is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of i3 Verticals? i3 Verticals's last 12 months EBITDA is $58.8M.
What is i3 Verticals's EBITDA margin? i3 Verticals's last 12 months EBITDA margin is 26%.
What is the current EV/EBITDA multiple of i3 Verticals? Current EBITDA multiple of i3 Verticals is 10.5x.
What is the current FCF of i3 Verticals? i3 Verticals's last 12 months FCF is $110M.
What is i3 Verticals's FCF margin? i3 Verticals's last 12 months FCF margin is 49%.
What is the current EV/FCF multiple of i3 Verticals? Current FCF multiple of i3 Verticals is 5.6x.

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