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Merus NV is a clinical-stage immuno-oncology company. It develops bispecific antibody therapeutics. The company is developing full-length human multispecific antibody therapeutics, referred to as Biclonics. Merus has only one reportable segment comprising the discovery and development of bispecific therapeutics. Some of its products in the pipeline include MCLA-128; MCLA-117; MCLA-158 and others.
2003
260
LTM Revenue $38.0M
LTM EBITDA -$273M
$2.4B
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Merus has a last 12-month revenue of $38.0M and a last 12-month EBITDA of -$273M.
In the most recent fiscal year, Merus achieved revenue of $36.1M and an EBITDA of -$270M.
Merus expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Merus valuation multiples based on analyst estimates| FY 2023 | FY 2024 | FY 2025 | LTM | NTM | |
|---|---|---|---|---|---|
| Revenue | $43.9M | $36.1M | XXX | XXX | XXX |
| Gross Profit | n/a | n/a | XXX | XXX | XXX |
| Gross Margin | NaN% | NaN% | XXX | XXX | XXX |
| EBITDA | -$154M | -$270M | XXX | XXX | XXX |
| EBITDA Margin | -350% | -746% | XXX | XXX | XXX |
| Net Profit | -$131M | -$155M | XXX | XXX | XXX |
| Net Margin | -299% | -429% | XXX | XXX | XXX |
| Net Debt | n/a | n/a | XXX | XXX | XXX |
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As of April 15, 2025, Merus's stock price is $42.
Merus has current market cap of $2.9B, and EV of $2.4B.
See Merus trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $2.4B | $2.9B | XXX | XXX | XXX | XXX | $-3.63 |
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Sign UpAs of April 15, 2025, Merus has market cap of $2.9B and EV of $2.4B.
Merus's trades at 63.3x LTM EV/Revenue multiple, and -8.8x LTM EBITDA.
Analysts estimate Merus's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See valuation multiples for Merus and 10K+ public comps| FY 2024 | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|
| EV | $2.4B | XXX | XXX | XXX |
| EV/Revenue | 66.5x | XXX | XXX | XXX |
| EV/EBITDA | -8.9x | XXX | XXX | XXX |
| P/E | -13.6x | XXX | XXX | XXX |
| P/E/Growth | n/a | XXX | XXX | XXX |
| EV/FCF | -12.8x | XXX | XXX | XXX |
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Sign UpMerus's NTM/LTM revenue growth is 29%
Merus's revenue per employee for the last fiscal year averaged $0.1M, while opex per employee averaged $1.2M for the same period.
Over next 12 months, Merus'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 Merus's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See operational valuation multiples for Merus and other 10K+ public comps| FY 2024 | NTM | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|---|
| Revenue Growth | -18% | XXX | XXX | XXX | XXX |
| EBITDA Margin | -746% | XXX | XXX | XXX | XXX |
| EBITDA Growth | 75% | XXX | XXX | XXX | XXX |
| Rule of 40 (SaaS-only) | -717% | XXX | XXX | XXX | XXX |
| Revenue per Employee | $0.1M | XXX | XXX | XXX | XXX |
| Opex per Employee | $1.2M | XXX | XXX | XXX | XXX |
| S&M Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| G&A Expenses to Revenue | 229% | XXX | XXX | XXX | XXX |
| R&D Expenses to Revenue | 624% | XXX | XXX | XXX | XXX |
| Opex to Revenue | 853% | XXX | XXX | XXX | XXX |
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| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| Julphar | XXX | XXX | XXX | XXX | XXX | XXX |
| Benevolent AI | 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 |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
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Merus acquired XXX companies to date.
Last acquisition by Merus was XXXXXXXX, XXXXX XXXXX XXXXXX . Merus 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 Merus founded? | Merus was founded in 2003. |
| Where is Merus headquartered? | Merus is headquartered in United States of America. |
| How many employees does Merus have? | As of today, Merus has 260 employees. |
| Who is the CEO of Merus? | Merus's CEO is Dr. Sven Ante Lundberg, M.D.. |
| Is Merus publicy listed? | Yes, Merus is a public company listed on NAS. |
| What is the stock symbol of Merus? | Merus trades under MRUS ticker. |
| When did Merus go public? | Merus went public in 2016. |
| Who are competitors of Merus? | Similar companies to Merus include e.g. Julphar, Benevolent AI, Galapagos, Pharming. |
| What is the current market cap of Merus? | Merus's current market cap is $2.9B |
| What is the current revenue of Merus? | Merus's last 12-month revenue is $38.0M. |
| What is the current EBITDA of Merus? | Merus's last 12-month EBITDA is -$273M. |
| What is the current EV/Revenue multiple of Merus? | Current revenue multiple of Merus is 63.3x. |
| What is the current EV/EBITDA multiple of Merus? | Current EBITDA multiple of Merus is -8.8x. |
| What is the current revenue growth of Merus? | Merus revenue growth between 2023 and 2024 was -18%. |
| Is Merus profitable? | Yes, Merus is EBITDA-positive (as of the last 12 months). |
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