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Net Holding Valuation Multiples

Discover revenue and EBITDA valuation multiples for Net Holding and similar public comparables like Corporate Travel Management, Flight Centre, and Helloworld Travel.

Net Holding Overview

About Net Holding

Net Holding AS is a Turkey-based holding company which mainly provides tourism services. It manages its business through five reportable segments, namely, tourism, finance, publication, holding and others. As a tourism company, its major revenues come from the tourism segment. The tourism segment comprises of hotel and accommodation, touristic shopping, managing duty-free shops and car rentals. Through the publishing segment, the company publishes books and runs bookstores. The Holding segment refers to the company's business of managing its net group of companies and the other segment provides construction and agriculture-related services. The company's geographical segments are TRNC(Turkish Republic of Northern Cyprus), Croatia, Montenegro, Bulgaria, and Turkey.


Founded

1981

HQ

Turkey
Employees

4.1K+

Website

netholding.com

Financials

LTM Revenue n/a

LTM EBITDA n/a

EV

$451M

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Net Holding Financials

Net Holding has a last 12-month revenue of n/a and a last 12-month EBITDA of n/a.

In the most recent fiscal year, Net Holding achieved revenue of $509M and an EBITDA of $242M.

Net Holding expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Net Holding P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $250M $509M XXX XXX XXX
Gross Profit $33.5M $100.0M XXX XXX XXX
Gross Margin 13% 20% XXX XXX XXX
EBITDA $193M $242M XXX XXX XXX
EBITDA Margin 77% 48% XXX XXX XXX
Net Profit $70.0M $58.7M XXX XXX XXX
Net Margin 28% 12% XXX XXX XXX
Net Debt n/a n/a XXX XXX XXX

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Net Holding Stock Performance

As of April 15, 2025, Net Holding's stock price is TRY 39 (or $1).

Net Holding has current market cap of TRY 18.1B (or $476M), and EV of TRY 17.2B (or $451M).

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Net Holding Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$451M $476M XXX XXX XXX XXX n/a

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Net Holding Valuation Multiples

As of April 15, 2025, Net Holding has market cap of $476M and EV of $451M.

Net Holding's trades at n/a LTM EV/Revenue multiple, and n/a LTM EBITDA.

Analysts estimate Net Holding's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Net Holding Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $451M XXX XXX XXX
EV/Revenue 0.9x XXX XXX XXX
EV/EBITDA 1.9x XXX XXX XXX
P/E 6.9x XXX XXX XXX
P/E/Growth n/a XXX XXX XXX
EV/FCF 33.3x XXX XXX XXX

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Net Holding Valuation Multiples

Net Holding's NTM/LTM revenue growth is n/a

Net Holding's revenue per employee for the last fiscal year averaged $0.1M, while opex per employee averaged $19K for the same period.

Over next 12 months, Net Holding'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 Net Holding's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Net Holding Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth 104% XXX XXX XXX XXX
EBITDA Margin 48% XXX XXX XXX XXX
EBITDA Growth 25% XXX XXX XXX XXX
Rule of 40 (SaaS-only) n/a XXX XXX XXX XXX
Revenue per Employee $0.1M XXX XXX XXX XXX
Opex per Employee $19K XXX XXX XXX XXX
S&M Expenses to Revenue 1% XXX XXX XXX XXX
G&A Expenses to Revenue 1% XXX XXX XXX XXX
R&D Expenses to Revenue n/a XXX XXX XXX XXX
Opex to Revenue 15% XXX XXX XXX XXX

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Net Holding Public Comps

See public comps and valuation multiples for Travel Services comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Corporate Travel Management XXX XXX XXX XXX XXX XXX
Flight Centre XXX XXX XXX XXX XXX XXX
Helloworld Travel XXX XXX XXX XXX XXX XXX
Web Travel Group XXX XXX XXX XXX XXX XXX
EaseMyTrip XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Net Holding M&A and Investment Activity

Net Holding acquired  XXX companies to date.

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

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Latest Acquisitions by Net Holding

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 Net Holding

When was Net Holding founded? Net Holding was founded in 1981.
Where is Net Holding headquartered? Net Holding is headquartered in Turkey.
How many employees does Net Holding have? As of today, Net Holding has 4.1K+ employees.
Is Net Holding publicy listed? Yes, Net Holding is a public company listed on IST.
What is the stock symbol of Net Holding? Net Holding trades under NTHOL ticker.
When did Net Holding go public? Net Holding went public in 1989.
Who are competitors of Net Holding? Similar companies to Net Holding include e.g. Corporate Travel Management, Flight Centre, Helloworld Travel, Web Travel Group.
What is the current market cap of Net Holding? Net Holding's current market cap is $476M
What is the current revenue growth of Net Holding? Net Holding revenue growth between 2023 and 2024 was 104%.
Is Net Holding profitable? Yes, Net Holding is EBITDA-positive (as of the last 12 months).

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