Klarna - Public Comps and Valuation Multiples

Klarna Overview

About Klarna

Klarna is the largest pure-play in the buy now, pay later space. The company operates a two-sided network with a payment method at its core, but it is ultimately a lender. Merchants sign up with Klarna to increase turnover in their stores. Primarily, Klarna can provide merchants with higher conversion rates and average order values relative to other payment methods. Some merchants enter a symbiotic relationship with Klarna, advertising its brand on the product page to drive conversion and to benefit from Klarna’s brand value in the merchant’s sales funnel. Customers use Klarna for its ease of use, quick access to credit, zero-interest financing, and lower reminder fees.

Founded

2022

HQ

Employees

3.4K+

Website

klarna.com

Sectors

BNPL
Lending Solutions
Neobanking

Financials

Last FY Revenue $2.7B

Last FY EBITDA $683M

EV

$10.7B

Valuation Multiples

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Klarna Financials

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Klarna P&L

In the most recent fiscal year, Klarna reported revenue of $2.7B and EBITDA of $683M.

Klarna expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	XXX	$2.7B	XXX	XXX	XXX
Gross Profit	XXX	$2.1B	XXX	XXX	XXX
Gross Margin	XXX	78%	XXX	XXX	XXX
EBITDA	XXX	$683M	XXX	XXX	XXX
EBITDA Margin	XXX	26%	XXX	XXX	XXX
EBIT	XXX	$238M	XXX	XXX	XXX
EBIT Margin	XXX	9%	XXX	XXX	XXX
Net Profit	XXX	$3.0M	XXX	XXX	XXX
Net Margin	XXX	0%	XXX	XXX	XXX
Net Debt	XXX	n/a	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Klarna including revenue, profitability, and margin analysis across different time periods. In the most recent fiscal year, Klarna achieved $2.7B in revenue and $683M in EBITDA.
Financial Metric	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	Analyst estimates available to subscribers	$2.7B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	Analyst estimates available to subscribers	$2.1B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	Analyst estimates available to subscribers	77.7% 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)	Analyst estimates available to subscribers	$683M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	Analyst estimates available to subscribers	25.6% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	Analyst estimates available to subscribers	$238M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	Analyst estimates available to subscribers	8.9% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	Analyst estimates available to subscribers	$3.0M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	Analyst estimates available to subscribers	0.1% 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	n/a	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Klarna

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

Fiscal Year Performance

In the most recent fiscal year, Klarna reported $2.7B in total revenue.
Fiscal year EBITDA was $683M.
The company maintained a gross profit margin of 77.7% in the most recent fiscal year.
EBITDA margin for the fiscal year was 25.6%.
Net profit margin reached 0.1% in the most recent fiscal year.

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

Klarna Stock Performance

Klarna has current market cap of $16.0B, and EV of $10.7B.

Market Cap Evolution

Klarna Stock Data

As of October 7, 2025, Klarna's stock price is $42.

See Klarna trading valuation data

EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$10.7B	$16.0B	XXX	XXX	XXX	XXX	n/a

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Klarna Valuation Multiples

Klarna's trades at 4.0x EV/Revenue multiple, and 15.6x EV/EBITDA.

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Klarna Financial Valuation Multiples

As of October 7, 2025, Klarna has market cap of $16.0B and EV of $10.7B.

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

Klarna's P/E ratio is not available.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$16.0B	XXX	$16.0B	XXX	XXX	XXX
EV (current)	$10.7B	XXX	$10.7B	XXX	XXX	XXX
EV/Revenue	n/a	XXX	4.0x	XXX	XXX	XXX
EV/EBITDA	n/a	XXX	15.6x	XXX	XXX	XXX
EV/EBIT	n/a	XXX	44.8x	XXX	XXX	XXX
EV/Gross Profit	n/a	XXX	n/a	XXX	XXX	XXX
P/E	n/a	XXX	5321.9x	XXX	XXX	XXX
EV/FCF	n/a	XXX	19.7x	XXX	XXX	XXX

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

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Klarna Margins & Growth Rates

Klarna's revenue per employee in the last FY averaged $0.8M, while opex per employee averaged $0.5M for the same period.

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

Klarna's rule of X is unknown (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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Klarna Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	n/a	XXX	30%	XXX	XXX	XXX
EBITDA Margin	n/a	XXX	26%	XXX	XXX	XXX
EBITDA Growth	n/a	XXX	-57%	XXX	XXX	XXX
Rule of 40	n/a	XXX	n/a	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	n/a	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.8M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.5M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	12%	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	17%	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	69%	XXX	XXX	XXX

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

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