IBA Group - Public Comps and Valuation Multiples

IBA Group Overview

About IBA Group

Ion Beam Applications SA develops and manufactures medical devices and software solutions. The firm operates in two segments: proton therapy and other accelerators and dosimetry. Proton therapy and other accelerators business contribute to the majority of sales. It offers solutions for precision cancer treatment through the use of proton beams, as well as cyclotrons used for the production of radioisotopes and industrial accelerators for sterilization and ionization. The dosimetry business sells measurement and quality assurance instruments for radiotherapy and medical imaging. The firm operates in three geographical areas: Belgium, the United States, and the Rest of the World.

Founded

1986

HQ

Employees

2.1K+

Website

iba-worldwide.com

Sectors

Medical Devices
DeepTech
HealthTech

Financials

LTM Revenue $666M

LTM EBITDA $45.7M

EV

$422M

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IBA Group Financials

As of September 2025, IBA Group reported last 12-month revenue of $666M and EBITDA of $45.7M.

In the same period, IBA Group generated $282M in LTM gross profit and $16.8M in net income.

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IBA Group P&L

In the most recent fiscal year, IBA Group reported revenue of $576M and EBITDA of $33.3M.

IBA 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	$666M	XXX	$576M	XXX	XXX	XXX
Gross Profit	$282M	XXX	$192M	XXX	XXX	XXX
Gross Margin	42%	XXX	33%	XXX	XXX	XXX
EBITDA	$45.7M	XXX	$33.3M	XXX	XXX	XXX
EBITDA Margin	7%	XXX	6%	XXX	XXX	XXX
EBIT	$30.6M	XXX	$11.4M	XXX	XXX	XXX
EBIT Margin	5%	XXX	2%	XXX	XXX	XXX
Net Profit	$16.8M	XXX	$10.7M	XXX	XXX	XXX
Net Margin	3%	XXX	2%	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 IBA Group including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $666M. EBITDA for the last twelve months was $45.7M. In the most recent fiscal year, IBA Group achieved $576M in revenue and $33.3M 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	$666M	Analyst estimates available to subscribers	$576M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$282M	Analyst estimates available to subscribers	$192M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	42.3% gross margin	Analyst estimates available to subscribers	33.3% 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)	$45.7M	Analyst estimates available to subscribers	$33.3M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	6.9% EBITDA margin	Analyst estimates available to subscribers	5.8% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$30.6M	Analyst estimates available to subscribers	$11.4M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	4.6% EBIT margin	Analyst estimates available to subscribers	2.0% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$16.8M	Analyst estimates available to subscribers	$10.7M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	2.5% net profit margin	Analyst estimates available to subscribers	1.9% 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 IBA Group

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

Recent Performance Highlights

IBA Group generated $666M in revenue over the last twelve months.
The company achieved $45.7M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $282M.
Net income over the last twelve months reached $16.8M.

Fiscal Year Performance

In the most recent fiscal year, IBA Group reported $576M in total revenue.
Fiscal year EBITDA was $33.3M.
The company maintained a gross profit margin of 33.3% in the most recent fiscal year.
EBITDA margin for the fiscal year was 5.8%.
Net profit margin reached 1.9% in the most recent fiscal year.

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

IBA Group Stock Performance

IBA Group has current market cap of EUR 335M (or $387M), and EV of EUR 365M (or $422M).

Market Cap Evolution

IBA Group Stock Data

As of October 17, 2025, IBA Group's stock price is EUR 11 (or $13).

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$422M	$387M	XXX	XXX	XXX	XXX	$0.56

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IBA Group Valuation Multiples

IBA Group's trades at 0.7x EV/Revenue multiple, and 12.7x EV/EBITDA.

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IBA Group Financial Valuation Multiples

As of October 17, 2025, IBA Group has market cap of $387M and EV of $422M.

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

IBA Group has a P/E ratio of 23.0x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$387M	XXX	$387M	XXX	XXX	XXX
EV (current)	$422M	XXX	$422M	XXX	XXX	XXX
EV/Revenue	0.6x	XXX	0.7x	XXX	XXX	XXX
EV/EBITDA	9.2x	XXX	12.7x	XXX	XXX	XXX
EV/EBIT	13.8x	XXX	36.9x	XXX	XXX	XXX
EV/Gross Profit	1.5x	XXX	n/a	XXX	XXX	XXX
P/E	23.0x	XXX	36.2x	XXX	XXX	XXX
EV/FCF	-7.5x	XXX	-20.2x	XXX	XXX	XXX

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

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IBA Group Margins & Growth Rates

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

IBA Group's revenue per employee in the last FY averaged $0.3M, while opex per employee averaged $0.1M for the same period.

IBA Group's rule of 40 is 9% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

IBA Group's rule of X is 22% (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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IBA Group Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	6%	XXX	11%	XXX	XXX	XXX
EBITDA Margin	7%	XXX	6%	XXX	XXX	XXX
EBITDA Growth	27%	XXX	82%	XXX	XXX	XXX
Rule of 40	9%	XXX	12%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	22%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.3M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.1M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	6%	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	12%	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	31%	XXX	XXX	XXX

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

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