iOCO Valuation Multiples

Discover iOCO's revenue and EBITDA valuation multiples and M&A history, alongside public comparables like Forte, Endava, Cheops Technology, Almawave and more.

iOCO Overview

About iOCO

iOCO Ltd, FormerlyEOH Holdings Ltd is a South Africa-based firm offering IT services, software, IT infrastructure, industrial technologies, and outsourcing services. The company operates through three segments. iOCO segment consists of Digital, infrastructure, connected industrial ecosystem, digital business solutions, EasyHQ, international, and NEXTEC services. The majority of revenue is from Intelligent Technology Solutions.


Founded

1998

HQ

South Africa

Employees

4.4K

Website

ioco.tech

Financials (FY)

Revenue: $340M
EBITDA: $27M

EV

$128M

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iOCO Financials

iOCO reported last fiscal year revenue of $340M and EBITDA of $27M.

In the same fiscal year, iOCO generated $98M in gross profit, $27M in EBITDA, and $15M in net income.


iOCO P&L

In the most recent fiscal year, iOCO reported revenue of $340M and EBITDA of $27M.

iOCO is profitable as of last fiscal year, with gross margin of 29%, EBITDA margin of 8%, and net margin of 4%.

See analyst estimates for iOCO
Last FY202320242025202620272028
Revenue$340M$375M$356M$340M
Gross Profit$98M$104M$99M$98M
Gross Margin29%28%28%29%
EBITDA$27M$8M$17M$27M
EBITDA Margin8%2%5%8%
EBIT Margin7%3%4%7%
Net Profit$15M($4M)$4M$15M
Net Margin4%(1%)1%4%

Financial data powered by Morningstar, Inc.

iOCO Stock Performance

iOCO has current market cap of $147M, and enterprise value of $128M.

Market Cap Evolution


iOCO's stock price is $0.24.

iOCO has an EPS (earnings per share) of $0.02.

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EVMarket CapPrice 1DPrice 1MPrice 3MPrice 12MEPS
$128M$147M-0.3%---$0.02

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iOCO Valuation Multiples

iOCO trades at 0.4x EV/Revenue multiple, and 4.7x EV/EBITDA.

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iOCO Financial Valuation Multiples

As of July 24, 2026, iOCO has market cap of $147M and EV of $128M.

iOCO has a P/E ratio of 9.6x.

Last FY202320242025202620272028
EV/Revenue0.4x0.3x0.4x0.4x
EV/EBITDA4.7x16.0x7.7x4.7x
EV/EBIT5.1x11.3x8.1x5.1x
EV/Gross Profit1.3x1.2x1.3x1.3x
P/E9.6x(39.5x)36.5x9.6x
EV/FCF5.7x(14.8x)20.5x5.7x

Multiples above and below 250x are considered non-meaningful (n/m). Valuation data powered by FactSet, Inc. and Morningstar, Inc.

Verified iOCO Valuation Multiples

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iOCO Margins & Growth Rates

In the most recent fiscal year, iOCO reported gross margin of 29%, EBITDA margin of 8%, and net margin of 4%.

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iOCO Margins

Last FY20242025202720282029
Gross Margin29%28%29%
EBITDA Margin8%5%8%
EBIT Margin7%4%7%
Net Margin4%1%4%
FCF Margin7%2%7%

iOCO Growth Rates

23/2424/2526/2727/2828/29
Revenue Growth(5%)(5%)
Gross Profit Growth(5%)(2%)
EBITDA Growth108%63%
EBIT Growth39%60%
Net Profit Growth(208%)280%
FCF Growth(172%)259%

Data powered by FactSet, Inc. and Morningstar, Inc.

iOCO Operational KPIs

iOCO's revenue per employee in the last FY averaged $0.1M, while opex per employee averaged $0.0M for the same period.

Access forward-looking KPIs for iOCO
Last FY202320242025202620272028
Revenue per Employee$0.1M---
Opex per Employee$0.0M---
Opex to Revenue21%25%23%21%

Data powered by FactSet, Inc. and Morningstar, Inc.

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iOCO Competitors

iOCO competitors include Forte, Endava, Cheops Technology, Almawave, NNIT, Exsitec, Aptitude Software, Blue Cloud Softech, Dynacons and Performance Technologies.

Most iOCO public comparables operate across IT Consulting.

EV/RevenueEV/EBITDA
Last FYLTM2027ELast FYLTM2027E
Forte3.5x-3.0x-
Endava----
Cheops Technology----
Almawave----
NNIT0.7x0.7x8.7x10.1x
Exsitec----
Aptitude Software1.3x1.3x8.7x-
Blue Cloud Softech1.7x-13.9x-

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Acquisitions by iOCO

iOCO has acquired 3 companies to date.

Last acquisition by iOCO was on July 16th 2026. iOCO acquired Astraia Technology for undisclosed valuation.

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Latest Acquisitions by iOCO

Astraia Technology
MySky Networks
Hoverfly Cloud
Description
Astraia Technology is an information technology firm. It supplies enterprise resource planning solutions to commercial clients.
MySky Networks offers managed network operations, infrastructure, and software services including guest WiFi analytics, people counters for venues like malls and hotels, and cloud-based VoIP solutions.
-
HQ CountrySouth AfricaSouth Africa-
HQ City
Cape Town
Johannesburg
-
Deal Date16 Jul 202618 Mar 202621 Jun 2023
Valuationundisclosed$3Mundisclosed
EV/Revenue
EV/EBITDA

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About iOCO

When was iOCO founded?iOCO was founded in 1998.
Where is iOCO headquartered?iOCO is headquartered in South Africa.
How many employees does iOCO have?As of today, iOCO has over 4K employees.
Is iOCO publicly listed?Yes, iOCO is a public company listed on Johannesburg Stock Exchange.
What is the stock symbol of iOCO?iOCO trades under IOC ticker.
When did iOCO go public?iOCO went public in 1998.
Who are competitors of iOCO?iOCO main competitors include Forte, Endava, Cheops Technology, Almawave, NNIT, Exsitec, Aptitude Software, Blue Cloud Softech, Dynacons, Performance Technologies.
What is the current market cap of iOCO?iOCO's current market cap is $147M.
What is the current revenue of iOCO?iOCO's last fiscal year revenue is $340M.
What is the current EV/Revenue multiple of iOCO?Current revenue multiple of iOCO is 0.4x.
Is iOCO profitable?No, iOCO is not profitable.
How many companies iOCO has acquired to date?As of July 2026, iOCO has acquired 3 companies.
What was the largest acquisition by iOCO?$3M acquisition of MySky Networks on 18th March 2026 was the largest M&A iOCO has done to date.
What companies iOCO acquired?iOCO acquired MySky Networks, Hoverfly Cloud, and Astraia Technology.
In how many companies iOCO has invested to date?iOCO hasn't invested in any companies yet (or none have been disclosed publicly).

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