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Lupin Valuation Multiples

Discover revenue and EBITDA valuation multiples for Lupin and similar public comparables like Armata Pharmaceuticals, Vivoryon Therapeutics, and Pharming.

Lupin Overview

About Lupin

Lupin Ltd is a specialty and generic drug manufacturing company. The company produces, develops, and markets branded and generic formulations, biotechnology products, and active pharmaceutical ingredients (APIs) globally. It has a presence in the Cardiovascular, Diabetology, Asthma, Pediatrics, Central Nervous System, GastroIntestinal, and other drug therapy segments. The operations of the company are limited to the segments, namely pharmaceuticals which derives key revenue, and others. It also maintains a pipeline in high-barrier markets such as Inhalation, Biosimilars, and Complex Injectables. The vast majority of the company's sales are generated in the United States, followed by India, and other countries.


Founded

1983

HQ

India
Employees

20.1K+

Website

lupin.com

Financials

LTM Revenue $2.6B

LTM EBITDA $613M

EV

$10.4B

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Lupin Financials

Lupin has a last 12-month revenue of $2.6B and a last 12-month EBITDA of $613M.

In the most recent fiscal year, Lupin achieved revenue of $2.3B and an EBITDA of $453M.

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

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Lupin P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $1.9B $2.3B XXX XXX XXX
Gross Profit $1.1B $1.0B XXX XXX XXX
Gross Margin 56% 46% XXX XXX XXX
EBITDA $213M $453M XXX XXX XXX
EBITDA Margin 11% 20% XXX XXX XXX
Net Profit -$177M $50.0M XXX XXX XXX
Net Margin -9% 2% XXX XXX XXX
Net Debt $320M $345M XXX XXX XXX

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Lupin Stock Performance

As of April 15, 2025, Lupin's stock price is INR 1969 (or $23).

Lupin has current market cap of INR 899B (or $10.4B), and EV of INR 898B (or $10.4B).

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Lupin Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$10.4B $10.4B XXX XXX XXX XXX $0.83

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Lupin Valuation Multiples

As of April 15, 2025, Lupin has market cap of $10.4B and EV of $10.4B.

Lupin's trades at 4.0x LTM EV/Revenue multiple, and 17.0x LTM EBITDA.

Analysts estimate Lupin's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Lupin Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $10.4B XXX XXX XXX
EV/Revenue 4.1x XXX XXX XXX
EV/EBITDA 18.3x XXX XXX XXX
P/E 30.8x XXX XXX XXX
P/E/Growth 1.8x XXX XXX XXX
EV/FCF 38.0x XXX XXX XXX

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Lupin Valuation Multiples

Lupin's NTM/LTM revenue growth is 12%

Lupin's revenue per employee for the last fiscal year averaged $0.1M, while opex per employee averaged $0.1M for the same period.

Over next 12 months, Lupin's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate Lupin's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Lupin Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth 21% XXX XXX XXX XXX
EBITDA Margin 22% XXX XXX XXX XXX
EBITDA Growth 112% XXX XXX XXX XXX
Rule of 40 (SaaS-only) 34% XXX XXX XXX XXX
Revenue per Employee $0.1M XXX XXX XXX XXX
Opex per Employee $0.1M XXX XXX XXX XXX
S&M Expenses to Revenue 6% XXX XXX XXX XXX
G&A Expenses to Revenue 7% XXX XXX XXX XXX
R&D Expenses to Revenue n/a XXX XXX XXX XXX
Opex to Revenue 49% XXX XXX XXX XXX

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Lupin Public Comps

See public comps and valuation multiples for Biopharmaceuticals and Drug Development & Therapeutics comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Julphar XXX XXX XXX XXX XXX XXX
Galapagos XXX XXX XXX XXX XXX XXX
Pharming XXX XXX XXX XXX XXX XXX
Vivoryon Therapeutics XXX XXX XXX XXX XXX XXX
Armata Pharmaceuticals XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Lupin M&A and Investment Activity

Lupin acquired  XXX companies to date.

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

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Latest Acquisitions by Lupin

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 Lupin

When was Lupin founded? Lupin was founded in 1983.
Where is Lupin headquartered? Lupin is headquartered in India.
How many employees does Lupin have? As of today, Lupin has 20.1K+ employees.
Who is the CEO of Lupin? Lupin's CEO is Ms. Vinita D. Gupta.
Is Lupin publicy listed? Yes, Lupin is a public company listed on BOM.
What is the stock symbol of Lupin? Lupin trades under 500257 ticker.
When did Lupin go public? Lupin went public in 1995.
Who are competitors of Lupin? Similar companies to Lupin include e.g. Julphar, Galapagos, Pharming, Vivoryon Therapeutics.
What is the current market cap of Lupin? Lupin's current market cap is $10.4B
What is the current revenue of Lupin? Lupin's last 12-month revenue is $2.6B.
What is the current EBITDA of Lupin? Lupin's last 12-month EBITDA is $613M.
What is the current EV/Revenue multiple of Lupin? Current revenue multiple of Lupin is 4.0x.
What is the current EV/EBITDA multiple of Lupin? Current EBITDA multiple of Lupin is 17.0x.
What is the current revenue growth of Lupin? Lupin revenue growth between 2023 and 2024 was 21%.
Is Lupin profitable? Yes, Lupin is EBITDA-positive (as of the last 12 months).

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