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Mercari operates the largest C2C secondhand goods trading platform in Japan in Mercari, with over 22 million MAU and over JPY 893 billion gross merchandise value in fiscal year 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 $161M
$2.4B
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 of $1.3B and a last 12-month EBITDA of $161M.
In the most recent fiscal year, Mercari achieved revenue of $1.2B and an EBITDA of $136M.
Mercari expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Mercari valuation multiples based on analyst estimates| FY 2023 | FY 2024 | FY 2025 | LTM | NTM | |
|---|---|---|---|---|---|
| Revenue | $1.1B | $1.2B | XXX | XXX | XXX |
| Gross Profit | $632M | $760M | XXX | XXX | XXX |
| Gross Margin | 55% | 61% | XXX | XXX | XXX |
| EBITDA | $116M | $136M | XXX | XXX | XXX |
| EBITDA Margin | 10% | 11% | XXX | XXX | XXX |
| Net Profit | -$50.3M | $86.9M | XXX | XXX | XXX |
| Net Margin | -4% | 7% | XXX | XXX | XXX |
| Net Debt | n/a | n/a | XXX | XXX | XXX |
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As of April 15, 2025, Mercari's stock price is JPY 2240 (or $15).
Mercari has current market cap of JPY 368B (or $2.4B), and EV of JPY 354B (or $2.4B).
See Mercari trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $2.4B | $2.4B | XXX | XXX | XXX | XXX | $0.65 |
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Sign UpAs of April 15, 2025, Mercari has market cap of $2.4B and EV of $2.4B.
Mercari's trades at 1.8x LTM EV/Revenue multiple, and 14.6x LTM EBITDA.
Analysts estimate Mercari's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See valuation multiples for Mercari and 10K+ public comps| FY 2024 | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|
| EV | $2.4B | XXX | XXX | XXX |
| EV/Revenue | 1.9x | XXX | XXX | XXX |
| EV/EBITDA | 15.4x | XXX | XXX | XXX |
| P/E | 24.4x | XXX | XXX | XXX |
| P/E/Growth | 1.0x | XXX | XXX | XXX |
| EV/FCF | -12.8x | 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.
Sign UpMercari's NTM/LTM revenue growth is 8%
Mercari's revenue per employee for the last fiscal year averaged $1.1M, while opex per employee averaged $0.6M for the same period.
Over next 12 months, Mercari'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 Mercari's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See operational valuation multiples for Mercari and other 10K+ public comps| FY 2024 | NTM | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|---|
| Revenue Growth | 9% | XXX | XXX | XXX | XXX |
| EBITDA Margin | 12% | XXX | XXX | XXX | XXX |
| EBITDA Growth | 17% | XXX | XXX | XXX | XXX |
| Rule of 40 (SaaS-only) | 20% | XXX | XXX | XXX | XXX |
| Revenue per Employee | $1.1M | XXX | XXX | XXX | XXX |
| Opex per Employee | $0.6M | XXX | XXX | XXX | XXX |
| S&M Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| G&A Expenses to Revenue | 59% | XXX | XXX | XXX | XXX |
| R&D Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| Opex to Revenue | 60% | XXX | 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 |
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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 |
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Sign Up| 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 $2.4B |
| What is the current revenue of Mercari? | Mercari's last 12-month revenue is $1.3B. |
| What is the current EBITDA of Mercari? | Mercari's last 12-month EBITDA is $161M. |
| What is the current EV/Revenue multiple of Mercari? | Current revenue multiple of Mercari is 1.8x. |
| What is the current EV/EBITDA multiple of Mercari? | Current EBITDA multiple of Mercari is 14.6x. |
| What is the current revenue growth of Mercari? | Mercari revenue growth between 2023 and 2024 was 9%. |
| Is Mercari profitable? | Yes, Mercari is EBITDA-positive (as of the last 12 months). |
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