Mercia Asset Management Valuation Multiples

Mercia Asset Management is valued at $171M as of October 2026, a 3.0x revenue multiple. In the last 12 months, Mercia Asset Management revenue was $46M and Mercia Asset Management EBITDA was $11M.

Mercia Asset Management Overview

About Mercia Asset Management

Mercia Asset Management PLC is a specialist asset manager focusing on supporting regional SMEs. The company provides capital across its four asset classes proprietary balance sheet capital, venture capital, private equity, and debt. The company initially nurtures businesses via its third-party funds under management and then, over time, provides further funding to the companies by deploying direct investment follow-on capital from its balance sheet. It has more than eight offices in the UK region, approx. 20 university partnerships and extensive personal networks, providing it with access to high-quality deal flow.


Founded

2014

HQ

United Kingdom

Employees

143

Sectors

Financials (LTM)

Revenue: $46M
EBITDA: $11M

EV

$137M

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Mercia Asset Management Financials

Mercia Asset Management reported last 12-month revenue of $46M and EBITDA of $11M.

In the same LTM period, Mercia Asset Management generated $11M in EBITDA and had net loss of ($11M).

Revenue (LTM)


Mercia Asset Management P&L

In the most recent fiscal year, Mercia Asset Management reported revenue of $46M and EBITDA of ($7M).

Mercia Asset Management is unprofitable as of last fiscal year, with gross margin of 55%, EBITDA margin of (16%), and net margin of (25%).

See analyst estimates for Mercia Asset Management
LTMLast FY202320242025202620272028
Revenue$46M$46M$40M$46M$47M
Gross Profit-$25M$21M$24M$25M
Gross Margin-55%53%52%54%
EBITDA$11M($7M)($8M)$3M($3M)
EBITDA Margin23%(16%)(21%)8%(7%)
EBIT Margin8%12%4%8%11%
Net Profit($11M)($12M)($7M)$941K($8M)
Net Margin(25%)(25%)(17%)2%(16%)
Net Debt-($34M)---

Financial data powered by Morningstar, Inc.

Mercia Asset Management Stock Performance

Mercia Asset Management has current market cap of $171M, and enterprise value of $137M.

Market Cap Evolution


Mercia Asset Management's stock price is $0.41.

Mercia Asset Management share price increased by 0.2% in the last 30 days, and by 4.7% in the last year.

Mercia Asset Management has an EPS (earnings per share) of $-0.03.

See more trading valuation data for Mercia Asset Management
EVMarket CapPrice 1DPrice 1MPrice 3MPrice 12MEPS
$137M$171M0.2%0.2%11.7%4.7%$-0.03

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Mercia Asset Management Valuation Multiples

Mercia Asset Management trades at 3.0x EV/Revenue multiple, and 12.7x EV/EBITDA.

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EV / Revenue (LTM)


Mercia Asset Management Financial Valuation Multiples

As of November 3, 2026, Mercia Asset Management has market cap of $171M and EV of $137M.

Mercia Asset Management has a P/E ratio of (15.0x).

LTMLast FY202320242025202620272028
EV/Revenue3.0x3.0x3.5x3.0x2.9x
EV/EBITDA12.7x(19.3x)(16.9x)39.7x(42.5x)
EV/EBIT39.2x25.9x87.0x37.7x26.8x
EV/Gross Profit-5.5x6.5x5.7x5.5x
P/E(15.0x)(14.8x)(25.4x)182.1x(22.6x)
EV/FCF(14.2x)29.7x18.6x12.5x21.5x

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

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Mercia Asset Management Margins & Growth Rates

Mercia Asset Management grew revenue by 3% but EBITDA decreased by 253% in the last fiscal year.

In the most recent fiscal year, Mercia Asset Management reported gross margin of 55%, EBITDA margin of (16%), and net margin of (25%).

See estimated margins and future growth rates for Mercia Asset Management

Mercia Asset Management Margins

Last FY202420252026202720282029
Gross Margin55%52%54%54%
EBITDA Margin(16%)8%(7%)14%
EBIT Margin12%8%11%10%
Net Margin(25%)2%(16%)6%
FCF Margin10%24%14%12%

Mercia Asset Management Growth Rates

FY+1/FY23/2424/2525/2626/2727/2828/29
Revenue Growth3%16%1%0%
Gross Profit Growth-15%4%0%
EBITDA Growth(253%)(143%)(193%)(297%)
EBIT Growth(11%)131%40%(5%)
Net Profit Growth(166%)(114%)(905%)(137%)
FCF Growth29%49%(42%)(12%)

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

Mercia Asset Management Operational KPIs

Mercia Asset Management's revenue per employee in the last FY averaged $0.3M, while opex per employee averaged $0.1M for the same period.

Mercia Asset Management's Rule of 40 is 14% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Mercia Asset Management's Rule of X is 15% (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 Mercia Asset Management
LTMLast FY202320242025202620272028
Rule of 4030%14%---
Bessemer Rule of X40%15%---
Revenue per Employee-$0.3M---
Opex per Employee-$0.1M---
S&M Expenses to Revenue-20%22%19%19%
G&A Expenses to Revenue74%1%1%1%74%
Opex to Revenue75%43%49%44%43%

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

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Mercia Asset Management Competitors

Mercia Asset Management competitors include Stack Capital Group, VEF, Spectral Capital, GalaxyEdge Acquisition, DAOL Investment, Arbona, SuRo Capital, BOCOM Intl Hldgs Co, Triple Point Venture VCT and Graf Global.

Most Mercia Asset Management public comparables operate across PE & VC.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Stack Capital Group$11M$9M14.8x2.4x17.9x-
VEF($529K)$89M(294.5x)-1.7x-
Spectral Capital$22M$2M8.9x-94.7x-
GalaxyEdge Acquisition-($45K)--(3548.2x)-
DAOL Investment$258M-3.4x---
Arbona$112M$18M1.5x-9.0x-
SuRo Capital$67M-3.1x125.7x--
BOCOM Intl Hldgs Co$66M-2.8x---

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Mercia Asset Management VC Funding History

Before going public, Mercia Asset Management raised $32M in total equity funding, across 1 round.


Mercia Asset Management Funding Rounds

DateStageInvestorsRaisedValuationRev. MultipleDeal Summary
Feb-18Undisclosed stage-$32M-Mercia Fund Managers (MFM), part of Mercia Asset Management (then Mercia Technologies), is a UK-based fund manager focused on early-stage investments, particularly in regional businesses outside London. In February 2018, MFM was awarded a £23.0 million Proof of Concept Midlands Engine Investment Fund by the British Business Bank, following a £40.5 million Growth Fund raise in December 2017 and £12.0 million in EIS capital in January 2018. These were mandates to manage government-backed funds for investing in promising early-stage companies over 4-5 years, with MFM holding approximately £230 million cash for deployment at FY18. Assets under management grew to around £500 million, comprising £400 million in funds, £66.1 million direct assets, and other items. The fund management operations were profitable, generating revenues of £9.1 million for the year ended 31 March 2018, up from prior periods, including management fees and one-off performance fees totaling £9.6 million in related Edison analysis. The business supported a pipeline of investments like Emerging Stars, with strong balance sheet enabling follow-on funding; unrestricted cash stood at £49.4 million, providing runway for two years. Parent Mercia benefited from exits such as Science Warehouse sold for £16.9 million total consideration in March 2018, generating £10.5 million proceeds.

Acquisitions by Mercia Asset Management

Mercia Asset Management has acquired 4 companies to date.

Last acquisition by Mercia Asset Management was on December 6th 2022. Mercia Asset Management acquired Frontier Development Capital for $11M (EV/Revenue multiple available to Pro users).

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Latest Acquisitions by Mercia Asset Management

Frontier Development Capital
NVM Private Equity
WML Consulting
Enterprise Ventures
Description
Frontier Development Capital is a Birmingham-headquartered debt provider offering £1 million to £20 million facilities for UK mid-market SMEs and property developers. The firm funds growth initiatives, shareholder exits, and real estate projects with flexible terms up to 7 years. Part of Mercia Asset Management PLC since 2016, it targets established businesses in manufacturing and services.
NVM Private Equity is a UK regional venture capital firm managing over £175 million across five funds, including four Venture Capital Trusts. Hexham-headquartered since 1988, the firm targets management buyouts and growth investments in manufacturing and tech sectors outside London. NVM has backed over 100 portfolio companies, achieving exits like the sale of Redmayne to M&S. Investments range from £1-10 million in Northern England and Scotland businesses.
WML Consulting is a UK-based firm of chartered mechanical and electrical engineers providing design services for building services, HVAC, and fire protection systems. Operating from Worcester since 1992, it advises on projects for hospitals, schools, and commercial offices, using BIM software like Revit. The practice delivers feasibility studies, contract administration, and compliance certifications under UK building regulations.
Enterprise Ventures supplies venture capital and early-stage finance to small and medium enterprises throughout England and Wales. The firm manages investment funds sourced from private and public sectors. It deploys equity and debt into businesses spanning pre-revenue proof-of-concept stages to management buyouts and development capital. Regulated by the Financial Conduct Authority and a member of the British Venture Capital Association, the Newcastle-based company supports diverse growth opportunities.
HQ CountryUnited KingdomUnited KingdomUnited KingdomUnited Kingdom
HQ City
Birmingham
Newcastle upon Tyne
Manchester
Preston
Deal Date6 Dec 202223 Dec 201917 Jul 201810 Mar 2016
Valuation$11Mundisclosedundisclosed$14M
EV/Revenue
EV/EBITDA

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Investments by Mercia Asset Management

Mercia Asset Management has invested in 205 companies to date.

Latest investment by Mercia Asset Management was on October 15th 2026. Mercia Asset Management invested in Medcotec in their $3M Seed round (EV/Revenue multiple available to Pro users).

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Latest Investments by Mercia Asset Management

Medcotec
PlannerPal
Ambrey Baker
givestar
Description
Medcotec is a developer of single-use contained powder transfer valve technology for pharmaceutical and industrial manufacturers, based at Sci-Tech Daresbury in the Liverpool City Region, England. It was founded in 2021 by technology executives Emerson Mulvaney and Mike Taitt. Its flagship Helyx valve is a full-bore, interlocked single-use valve that uses an identical design on both sides of the connection, aiming to improve operator safety, reduce contamination risks and production outages, and simplify training and changeovers compared with conventional split-butterfly valves. The company received pre-seed investment from LYVA Labs in 2025 and already works with a leading pharmaceutical company and other manufacturers. In October 2026 it raised more than GBP 2.4 million in seed funding led by Mercia Ventures to run further trials, grow its team and commercialise the technology.
PlannerPal is an AI-native workflow automation software company for independent financial advisers and wealth management firms in the UK. Its platform transcribes client meetings, drafts compliant notes and suitability reports, and updates CRM records, integrating with existing financial planning software and virtual meeting tools. The aim is to cut adviser admin time, improve compliance and strengthen client relationships. The company is based in Newcastle, United Kingdom, and was founded in 2022. It sells the product to advisory firms, most likely on a subscription basis.
Ambrey Baker is a project execution and asset care specialist serving food production and temperature-controlled sites through refurbishment, compliance work and lifecycle planning.
-
HQ CountryUnited KingdomUnited KingdomUnited KingdomUnited Kingdom
HQ City
Daresbury
Newcastle
Grantham
London
Deal Date15 Oct 20267 Oct 202630 Sep 202623 Sep 2026
RoundSeedSeedUndisclosed stageUndisclosed stage
Raised$3M$6M$7M$12M
InvestorsLYVA Labs; AXM Venture Capital; Mercia Asset ManagementAda Ventures; Mercia Asset ManagementMercia Asset ManagementBenefact Group; Love Ventures; Mercia Asset Management
Valuationundisclosedundisclosedundisclosedundisclosed
EV/Revenue
EV/EBITDA

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About Mercia Asset Management

When was Mercia Asset Management founded?Mercia Asset Management was founded in 2014.
Where is Mercia Asset Management headquartered?Mercia Asset Management is headquartered in United Kingdom.
How many employees does Mercia Asset Management have?As of today, Mercia Asset Management has over 143 employees.
Is Mercia Asset Management publicly listed?Yes, Mercia Asset Management is a public company listed on London Stock Exchange.
What is the stock symbol of Mercia Asset Management?Mercia Asset Management trades under MERC ticker.
When did Mercia Asset Management go public?Mercia Asset Management went public in 2014.
Who are competitors of Mercia Asset Management?Mercia Asset Management main competitors include Stack Capital Group, VEF, Spectral Capital, GalaxyEdge Acquisition, DAOL Investment, Arbona, SuRo Capital, BOCOM Intl Hldgs Co, Triple Point Venture VCT, Graf Global.
What is the current market cap of Mercia Asset Management?Mercia Asset Management's current market cap is $171M.
What is the current revenue of Mercia Asset Management?Mercia Asset Management's last 12 months revenue is $46M.
What is the current revenue growth of Mercia Asset Management?Mercia Asset Management revenue growth (NTM/LTM) is 7%.
What is the current EV/Revenue multiple of Mercia Asset Management?Current revenue multiple of Mercia Asset Management is 3.0x.
What is the current EBITDA of Mercia Asset Management?Mercia Asset Management's last 12 months EBITDA is $11M.
What is Mercia Asset Management's EBITDA margin?Mercia Asset Management's last 12 months EBITDA margin is 23%.
What is the current EV/EBITDA multiple of Mercia Asset Management?Current EBITDA multiple of Mercia Asset Management is 12.7x.
What is the current FCF of Mercia Asset Management?Mercia Asset Management's last 12 months FCF is ($10M).
What is Mercia Asset Management's FCF margin?Mercia Asset Management's last 12 months FCF margin is (21%).
What is the current EV/FCF multiple of Mercia Asset Management?Current FCF multiple of Mercia Asset Management is (14.2x).
How many companies Mercia Asset Management has acquired to date?As of November 2026, Mercia Asset Management has acquired 4 companies.
What was the largest acquisition by Mercia Asset Management?$14M acquisition of Enterprise Ventures on 10th March 2016 was the largest M&A Mercia Asset Management has done to date.
What companies Mercia Asset Management acquired?Mercia Asset Management acquired Enterprise Ventures, Frontier Development Capital, NVM Private Equity, and WML Consulting.
In how many companies Mercia Asset Management has invested to date?As of November 2026, Mercia Asset Management has invested in 205 companies.
What was the last Mercia Asset Management investment?On 15th October 2026 Mercia Asset Management invested in Medcotec, participating in a $3M Seed round, alongside LYVA Labs and AXM Venture Capital.
In what companies Mercia Asset Management invested in?Mercia Asset Management invested in Sense Biodetection, Semble, Akamis Bio, Risk Ledger, Astral Systems, Ben, Fifth Dimension AI, Turbine, PolyTherics, Synthesized, Pure Pet Food, Laverock Therapeutics, Napo Pet Insurance, Optellum, Locate Bio, Flok Health, Axis Spine Technologies, givestar, Netacea, Send, and 185 other companies.

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