IRCON International Valuation Multiples

IRCON International is valued at $1B as of October 2026, a 1.2x revenue multiple. In the last 12 months, IRCON International revenue was $908M and IRCON International EBITDA was $39M.

IRCON International Overview

About IRCON International

IRCON International is a state-owned construction firm building railways, highways, metros and electrification projects in India and abroad. Customers are mainly the railways and other government bodies. Headquartered in New Delhi.


Founded

1976

HQ

India

Employees

1.1K

Website

ircon.org

Financials (LTM)

Revenue: $908M
EBITDA: $39M

EV

$1.1B

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IRCON International Financials

IRCON International reported last 12-month revenue of $908M and EBITDA of $39M.

In the same LTM period, IRCON International generated $821M in gross profit, $39M in EBITDA, and $68M in net income.


IRCON International P&L

In the most recent fiscal year, IRCON International reported revenue of $937M and EBITDA of $109M.

IRCON International is profitable as of last fiscal year, with gross margin of 8%, EBITDA margin of 12%, and net margin of 7%.

See analyst estimates for IRCON International
LTMLast FY202320242025202620272028
Revenue$908M$937M$1.2B$1.2B$981M
Gross Profit$821M$74M$109M$91M$76M
Gross Margin90%8%9%8%8%
EBITDA$39M$109M$114M$109M$107M
EBITDA Margin4%12%9%9%11%
EBIT Margin4%7%8%7%7%
Net Profit$68M$63M$94M$82M$66M
Net Margin7%7%8%7%7%
Net Debt-$375M---

Financial data powered by Morningstar, Inc.

IRCON International Stock Performance

IRCON International has current market cap of $1B, and enterprise value of $1.1B.


IRCON International's stock price is $1.07.

IRCON International share price decreased by 12.1% in the last 30 days, and by 43.9% in the last year.

IRCON International has an EPS (earnings per share) of $0.07.

See more trading valuation data for IRCON International
EVMarket CapPrice 1DPrice 1MPrice 3MPrice 12MEPS
$1.1B$1B-2.3%-12.1%-18.7%-43.9%$0.07

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IRCON International Valuation Multiples

IRCON International trades at 1.2x EV/Revenue multiple, and 28.8x EV/EBITDA.

See NTM and 2027E valuation multiples for IRCON International

IRCON International Financial Valuation Multiples

As of October 22, 2026, IRCON International has market cap of $1B and EV of $1.1B.

IRCON International has a P/E ratio of 14.9x.

LTMLast FY202320242025202620272028
EV/Revenue1.2x1.2x0.9x1.0x1.1x
EV/EBITDA28.8x10.2x9.7x10.2x10.3x
EV/EBIT33.7x17.3x11.4x13.1x16.5x
EV/Gross Profit1.4x15.0x10.2x12.3x14.6x
P/E14.9x16.0x10.8x12.3x15.2x
EV/FCF(20.6x)(7.2x)(11.2x)(5.0x)(6.2x)

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

Verified IRCON International Valuation Multiples

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IRCON International Margins & Growth Rates

IRCON International decreased revenue by 1% and EBITDA by 63% in the last fiscal year.

In the most recent fiscal year, IRCON International reported gross margin of 8%, EBITDA margin of 12%, and net margin of 7%.

See estimated margins and future growth rates for IRCON International

IRCON International Margins

Last FY202420252026202720282029
Gross Margin8%8%8%70%
EBITDA Margin12%9%11%6%
EBIT Margin7%7%7%4%
Net Margin7%7%7%7%
FCF Margin(17%)(19%)(18%)(12%)

IRCON International Growth Rates

FY+1/FY23/2424/2525/2626/2727/2828/29
Revenue Growth(1%)(7%)(15%)(5%)
Gross Profit Growth1027%(17%)(16%)749%
EBITDA Growth(63%)(4%)(2%)(47%)
EBIT Growth(47%)(13%)(21%)(38%)
Net Profit Growth11%(12%)(19%)3%
FCF Growth(37%)123%(18%)(38%)

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

IRCON International Operational KPIs

IRCON International's revenue per employee in the last FY averaged $0.9M, while opex per employee averaged $0.0M for the same period.

IRCON International's Rule of 40 is 1% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

IRCON International's Rule of X is (7%) (created by Bessemer, Rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

Access forward-looking KPIs for IRCON International
LTMLast FY202320242025202620272028
Rule of 4015%1%---
Bessemer Rule of X30%(7%)---
Revenue per Employee-$0.9M---
Opex per Employee-$0.0M---
S&M Expenses to Revenue-0%0%0%0%
Opex to Revenue-1%1%0%1%

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

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IRCON International Competitors

IRCON International competitors include Amram Avraham, Rosetti Marino, RITES, Renew Holdings, Aristos, Welspun Enterprises, Holcim Ecuador, Service Stream, Ameresco and Bangun Kosambi Sukses.

Most IRCON International public comparables operate across Construction & Engineering and Rail Infrastructure.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Amram Avraham$511M$118M5.3x-22.9x-
Rosetti Marino$831M$63M1.2x1.1x16.0x14.5x
RITES$254M$64M2.8x2.5x11.1x11.4x
Renew Holdings$1.4B$115M0.7x0.6x8.9x8.1x
Aristos$488M$45M0.8x-8.7x-
Welspun Enterprises$360M$61M2.9x-17.2x-
Holcim Ecuador$385M$136M2.5x-7.1x-
Service Stream$1.6B$99M0.6x0.6x9.9x8.2x

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About IRCON International

When was IRCON International founded?IRCON International was founded in 1976.
Where is IRCON International headquartered?IRCON International is headquartered in India.
How many employees does IRCON International have?As of today, IRCON International has over 1K employees.
Who is the CEO of IRCON International?IRCON International's CEO is Hari Mohan Gupta.
Is IRCON International publicly listed?Yes, IRCON International is a public company listed on National Stock Exchange of India.
What is the stock symbol of IRCON International?IRCON International trades under IRCON ticker.
When did IRCON International go public?IRCON International went public in 2018.
Who are competitors of IRCON International?IRCON International main competitors include Amram Avraham, Rosetti Marino, RITES, Renew Holdings, Aristos, Welspun Enterprises, Holcim Ecuador, Service Stream, Ameresco, Bangun Kosambi Sukses.
What is the current market cap of IRCON International?IRCON International's current market cap is $1B.
What is the current revenue of IRCON International?IRCON International's last 12 months revenue is $908M.
What is the current revenue growth of IRCON International?IRCON International revenue growth (NTM/LTM) is 10%.
What is the current EV/Revenue multiple of IRCON International?Current revenue multiple of IRCON International is 1.2x.
What is the current EBITDA of IRCON International?IRCON International's last 12 months EBITDA is $39M.
What is IRCON International's EBITDA margin?IRCON International's last 12 months EBITDA margin is 4%.
What is the current EV/EBITDA multiple of IRCON International?Current EBITDA multiple of IRCON International is 28.8x.
What is the current FCF of IRCON International?IRCON International's last 12 months FCF is ($54M).
What is IRCON International's FCF margin?IRCON International's last 12 months FCF margin is (6%).
What is the current EV/FCF multiple of IRCON International?Current FCF multiple of IRCON International is (20.6x).
How many companies IRCON International has acquired to date?IRCON International hasn't acquired any companies yet (or none have been disclosed publicly).
In how many companies IRCON International has invested to date?IRCON International hasn't invested in any companies yet (or none have been disclosed publicly).

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