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Naspers Valuation Multiples

Discover revenue and EBITDA valuation multiples for Naspers and similar public comparables like Marti Technologies, Just Eat Takeaway.com, and Articore Group.

Naspers Overview

About Naspers

Naspers Ltd is an Internet and entertainment group and technology investor in the world. Operating in more than 120 countries and markets with long-term growth potential, Naspers builds companies that empower people and enrich communities. It runs some of the platforms in the internet, video entertainment, and media. Naspers operates in various sectors including online classifieds, food delivery, payments, travel, education, health, and social and internet platforms. People use products and services of companies that Naspers has invested in, acquired, or built, including Azos, PharmEasy, ElasticRun, Alwans, and Vegrow among others. Geographically, the company derives maximum revenue from Europe and the rest from Asia, Africa, Latin America, North America, and other regions.


Founded

1915

HQ

South Africa
Employees

25.6K+

Website

naspers.com

Financials

LTM Revenue $131B

LTM EBITDA $6.0B

EV

$44.4B

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Naspers Financials

Naspers has a last 12-month revenue (LTM) of $131B and a last 12-month EBITDA of $6.0B.

In the most recent fiscal year, Naspers achieved revenue of $358M and an EBITDA of $433M.

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

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Naspers P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $131B XXX $358M XXX XXX XXX
Gross Profit $52.6B XXX $137M XXX XXX XXX
Gross Margin 40% XXX 38% XXX XXX XXX
EBITDA $6.0B XXX $433M XXX XXX XXX
EBITDA Margin 5% XXX 121% XXX XXX XXX
EBIT $3.1B XXX -$10.1M XXX XXX XXX
EBIT Margin 2% XXX -3% XXX XXX XXX
Net Profit $73.3B XXX $159M XXX XXX XXX
Net Margin 56% XXX 44% XXX XXX XXX
Net Debt XXX XXX $799M XXX XXX XXX

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Naspers Stock Performance

As of May 30, 2025, Naspers's stock price is ZAR 5164 (or $287).

Naspers has current market cap of ZAR 824B (or $45.8B), and EV of ZAR 798B (or $44.4B).

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Naspers Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$44.4B $45.8B XXX XXX XXX XXX $20.84

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Naspers Valuation Multiples

As of May 30, 2025, Naspers has market cap of $45.8B and EV of $44.4B.

Naspers's trades at 8.1x EV/Revenue multiple, and 138.8x EV/EBITDA.

Equity research analysts estimate Naspers's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

Naspers has a P/E ratio of 11.2x.

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Naspers Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $45.8B XXX $45.8B XXX XXX XXX
EV (current) $44.4B XXX $44.4B XXX XXX XXX
EV/Revenue 6.1x XXX 8.1x XXX XXX XXX
EV/EBITDA 132.0x XXX 138.8x XXX XXX XXX
EV/EBIT 254.7x XXX 490.5x XXX XXX XXX
EV/Gross Profit 15.2x XXX n/a XXX XXX XXX
P/E 11.2x XXX 15.1x XXX XXX XXX
EV/FCF 12.0x XXX 14.1x XXX XXX XXX

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Naspers Margins & Growth Rates

Naspers's last 12 month revenue growth is 13%

Naspers's revenue per employee in the last FY averaged $14K, while opex per employee averaged $6K for the same period.

Naspers's rule of 40 is 142% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Naspers's rule of X is 38% (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).

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Naspers Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 13% XXX 28% XXX XXX XXX
EBITDA Margin 5% XXX 6% XXX XXX XXX
EBITDA Growth 95% XXX 6% XXX XXX XXX
Rule of 40 142% XXX 19% XXX XXX XXX
Bessemer Rule of X XXX XXX 38% XXX XXX XXX
Revenue per Employee XXX XXX $14K XXX XXX XXX
Opex per Employee XXX XXX $6K 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 41% XXX XXX XXX

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Naspers Public Comps

See public comps and valuation multiples for Consumer Marketplaces and Vertical Marketplaces comps
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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Naspers M&A and Investment Activity

Naspers acquired  XXX companies to date.

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

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Latest Acquisitions by Naspers

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 Naspers

When was Naspers founded? Naspers was founded in 1915.
Where is Naspers headquartered? Naspers is headquartered in South Africa.
How many employees does Naspers have? As of today, Naspers has 25.6K+ employees.
Who is the CEO of Naspers? Naspers's CEO is Mr. Fabricio Bloisi.
Is Naspers publicy listed? Yes, Naspers is a public company listed on JSE.
What is the stock symbol of Naspers? Naspers trades under NPN ticker.
When did Naspers go public? Naspers went public in 1994.
Who are competitors of Naspers? Similar companies to Naspers include e.g. Prosus, Just Eat Takeaway.com, Marti Technologies, Airtasker.
What is the current market cap of Naspers? Naspers's current market cap is $45.8B
What is the current revenue of Naspers? Naspers's last 12 months revenue is $131B.
What is the current revenue growth of Naspers? Naspers revenue growth (NTM/LTM) is 13%.
What is the current EV/Revenue multiple of Naspers? Current revenue multiple of Naspers is 6.1x.
Is Naspers profitable? Yes, Naspers is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of Naspers? Naspers's last 12 months EBITDA is $6.0B.
What is Naspers's EBITDA margin? Naspers's last 12 months EBITDA margin is 5%.
What is the current EV/EBITDA multiple of Naspers? Current EBITDA multiple of Naspers is 132.0x.
What is the current FCF of Naspers? Naspers's last 12 months FCF is $66.6B.
What is Naspers's FCF margin? Naspers's last 12 months FCF margin is 51%.
What is the current EV/FCF multiple of Naspers? Current FCF multiple of Naspers is 12.0x.

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