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Mercari operates the largest consumer-to-consumer secondhand goods trading platform in Japan in Mercari, with over 22 million monthly active users and over JPY 893 billion in gross merchandise value in fiscal 2022. We estimate that it currently has over 70% market share in the C2C marketplace app market, making it the top platform in Japan. It operates a domestic fintech business and a C2C marketplace app business in the US as well. Domestic business roughly accounts for over 95% of its total GMV.
2013
1.2K+
LTM Revenue $1.3B
LTM EBITDA $179M
$2.6B
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
Mercari has a last 12-month revenue (LTM) of $1.3B and a last 12-month EBITDA of $179M.
In the most recent fiscal year, Mercari achieved revenue of $1.3B and an EBITDA of $140M.
Mercari expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Mercari valuation multiples based on analyst estimates| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue | $1.3B | XXX | $1.3B | XXX | XXX | XXX |
| Gross Profit | $1.3B | XXX | $890M | XXX | XXX | XXX |
| Gross Margin | 100% | XXX | 69% | XXX | XXX | XXX |
| EBITDA | $179M | XXX | $140M | XXX | XXX | XXX |
| EBITDA Margin | 14% | XXX | 11% | XXX | XXX | XXX |
| EBIT | $170M | XXX | $120M | XXX | XXX | XXX |
| EBIT Margin | 13% | XXX | 9% | XXX | XXX | XXX |
| Net Profit | $115M | XXX | $92.4M | XXX | XXX | XXX |
| Net Margin | 9% | XXX | 7% | XXX | XXX | XXX |
| Net Debt | XXX | XXX | n/a | XXX | XXX | XXX |
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As of May 30, 2025, Mercari's stock price is JPY 2393 (or $16).
Mercari has current market cap of JPY 393B (or $2.7B), and EV of JPY 383B (or $2.6B).
See Mercari trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $2.6B | $2.7B | XXX | XXX | XXX | XXX | $0.71 |
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Start Free TrialAs of May 30, 2025, Mercari has market cap of $2.7B and EV of $2.6B.
Mercari's trades at 2.0x EV/Revenue multiple, and 16.2x EV/EBITDA.
Equity research analysts estimate Mercari's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Mercari has a P/E ratio of 23.4x.
See valuation multiples for Mercari and 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $2.7B | XXX | $2.7B | XXX | XXX | XXX |
| EV (current) | $2.6B | XXX | $2.6B | XXX | XXX | XXX |
| EV/Revenue | 2.0x | XXX | 2.0x | XXX | XXX | XXX |
| EV/EBITDA | 14.7x | XXX | 16.2x | XXX | XXX | XXX |
| EV/EBIT | 15.4x | XXX | 17.9x | XXX | XXX | XXX |
| EV/Gross Profit | 2.0x | XXX | n/a | XXX | XXX | XXX |
| P/E | 23.4x | XXX | 25.7x | XXX | XXX | XXX |
| EV/FCF | n/a | XXX | -10.5x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Start Free TrialMercari's last 12 month revenue growth is 7%
Mercari's revenue per employee in the last FY averaged $1.1M, while opex per employee averaged $0.7M for the same period.
Mercari's rule of 40 is 18% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Mercari's rule of X is 32% (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).
See operational valuation multiples for Mercari and other 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 7% | XXX | 7% | XXX | XXX | XXX |
| EBITDA Margin | 14% | XXX | 12% | XXX | XXX | XXX |
| EBITDA Growth | 21% | XXX | 25% | XXX | XXX | XXX |
| Rule of 40 | 18% | XXX | 20% | XXX | XXX | XXX |
| Bessemer Rule of X | XXX | XXX | 32% | XXX | XXX | XXX |
| Revenue per Employee | XXX | XXX | $1.1M | XXX | XXX | XXX |
| Opex per Employee | XXX | XXX | $0.7M | XXX | XXX | XXX |
| S&M Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| G&A Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| R&D Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| Opex to Revenue | XXX | XXX | 60% | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| Prosus | XXX | XXX | XXX | XXX | XXX | XXX |
| Just Eat Takeaway.com | XXX | XXX | XXX | XXX | XXX | XXX |
| Marti Technologies | XXX | XXX | XXX | XXX | XXX | XXX |
| Airtasker | XXX | XXX | XXX | XXX | XXX | XXX |
| Articore Group | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Mercari acquired XXX companies to date.
Last acquisition by Mercari was XXXXXXXX, XXXXX XXXXX XXXXXX . Mercari acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| 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 |
Sign up to see revenue and EBITDA valuation multiples for 60K+ M&A deals.
Start Free Trial| When was Mercari founded? | Mercari was founded in 2013. |
| Where is Mercari headquartered? | Mercari is headquartered in Japan. |
| How many employees does Mercari have? | As of today, Mercari has 1.2K+ employees. |
| Who is the CEO of Mercari? | Mercari's CEO is Mr. Shintaro Yamada. |
| Is Mercari publicy listed? | Yes, Mercari is a public company listed on TKS. |
| What is the stock symbol of Mercari? | Mercari trades under 4385 ticker. |
| When did Mercari go public? | Mercari went public in 2018. |
| Who are competitors of Mercari? | Similar companies to Mercari include e.g. Prosus, Just Eat Takeaway.com, Marti Technologies, Airtasker. |
| What is the current market cap of Mercari? | Mercari's current market cap is $2.7B |
| What is the current revenue of Mercari? | Mercari's last 12 months revenue is $1.3B. |
| What is the current revenue growth of Mercari? | Mercari revenue growth (NTM/LTM) is 7%. |
| What is the current EV/Revenue multiple of Mercari? | Current revenue multiple of Mercari is 2.0x. |
| Is Mercari profitable? | Yes, Mercari is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Mercari? | Mercari's last 12 months EBITDA is $179M. |
| What is Mercari's EBITDA margin? | Mercari's last 12 months EBITDA margin is 14%. |
| What is the current EV/EBITDA multiple of Mercari? | Current EBITDA multiple of Mercari is 14.7x. |
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