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Nicox Valuation Multiples

Discover revenue and EBITDA valuation multiples for Nicox and similar public comparables like Vivoryon Therapeutics, Pharming, and Benevolent AI.

Nicox Overview

About Nicox

Nicox SA is an international ophthalmology company developing innovative solutions to help maintain vision and improve ocular health. Its lead program in clinical development is NCX 470 (bimatoprost grenod), a novel nitric oxide-donating bimatoprost eye drop, for lowering intraocular pressure in patients with open-angle glaucoma or ocular hypertension. The company also has a preclinical research program on NCX 1728, a nitric oxide-donating phosphodiesterase-5 inhibitor, with Glaukos. Its first product, VYZULTA in glaucoma, licensed exclusively worldwide to Bausch + Lomb, is available commercially in the U.S. and over 15 other territories. Nicox generates revenue from ZERVIATE in allergic conjunctivitis, licensed in multiple geographies.


Founded

1996

HQ

France
Employees

28

Website

nicox.com

Financials

LTM Revenue $7.3M

Last FY EBITDA -$23.1M

EV

$26.4M

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Nicox Financials

Nicox has a last 12-month revenue (LTM) of $7.3M and a last 12-month EBITDA of n/a.

In the most recent fiscal year, Nicox achieved revenue of $8.8M and an EBITDA of -$23.1M.

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

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Nicox P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $7.3M XXX $8.8M XXX XXX XXX
Gross Profit $7.3M XXX $7.6M XXX XXX XXX
Gross Margin 100% XXX 86% XXX XXX XXX
EBITDA n/a XXX -$23.1M XXX XXX XXX
EBITDA Margin n/a XXX -262% XXX XXX XXX
EBIT -$12.5M XXX -$10.9M XXX XXX XXX
EBIT Margin -173% XXX -124% XXX XXX XXX
Net Profit -$20.8M XXX -$25.1M XXX XXX XXX
Net Margin -286% XXX -285% XXX XXX XXX
Net Debt XXX XXX $5.2M XXX XXX XXX

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Nicox Stock Performance

As of May 30, 2025, Nicox's stock price is EUR 0 (or $0).

Nicox has current market cap of EUR 16.3M (or $18.3M), and EV of EUR 23.5M (or $26.4M).

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Nicox Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$26.4M $18.3M XXX XXX XXX XXX $-0.32

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Nicox Valuation Multiples

As of May 30, 2025, Nicox has market cap of $18.3M and EV of $26.4M.

Nicox's trades at 3.0x EV/Revenue multiple, and -1.1x EV/EBITDA.

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

Nicox has a P/E ratio of -0.9x.

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Nicox Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $18.3M XXX $18.3M XXX XXX XXX
EV (current) $26.4M XXX $26.4M XXX XXX XXX
EV/Revenue 3.6x XXX 3.0x XXX XXX XXX
EV/EBITDA n/a XXX -1.1x XXX XXX XXX
EV/EBIT -2.1x XXX -2.4x XXX XXX XXX
EV/Gross Profit 3.6x XXX n/a XXX XXX XXX
P/E -0.9x XXX -0.7x XXX XXX XXX
EV/FCF n/a XXX -1.0x XXX XXX XXX

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Nicox Margins & Growth Rates

Nicox's last 12 month revenue growth is -73%

Nicox's revenue per employee in the last FY averaged $0.3M, while opex per employee averaged $0.7M for the same period.

Nicox's rule of 40 is -320% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Nicox's rule of X is unknown (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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Nicox Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth -73% XXX n/a XXX XXX XXX
EBITDA Margin n/a XXX -262% XXX XXX XXX
EBITDA Growth n/a XXX n/a XXX XXX XXX
Rule of 40 -320% XXX -334% XXX XXX XXX
Bessemer Rule of X XXX XXX n/a XXX XXX XXX
Revenue per Employee XXX XXX $0.3M XXX XXX XXX
Opex per Employee XXX XXX $0.7M 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 76% XXX XXX XXX
Opex to Revenue XXX XXX 210% XXX XXX XXX

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Nicox Public Comps

See public comps and valuation multiples for Drug Development & Therapeutics comps
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

Valuation data powered by FactSet, Inc.

Nicox M&A and Investment Activity

Nicox acquired  XXX companies to date.

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

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Latest Acquisitions by Nicox

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 Nicox

When was Nicox founded? Nicox was founded in 1996.
Where is Nicox headquartered? Nicox is headquartered in France.
How many employees does Nicox have? As of today, Nicox has 28 employees.
Is Nicox publicy listed? Yes, Nicox is a public company listed on PAR.
What is the stock symbol of Nicox? Nicox trades under ALCOX ticker.
When did Nicox go public? Nicox went public in 1999.
Who are competitors of Nicox? Similar companies to Nicox include e.g. Julphar, Benevolent AI, Galapagos, Pharming.
What is the current market cap of Nicox? Nicox's current market cap is $18.3M
What is the current revenue of Nicox? Nicox's last 12 months revenue is $7.3M.
What is the current revenue growth of Nicox? Nicox revenue growth (NTM/LTM) is -73%.
What is the current EV/Revenue multiple of Nicox? Current revenue multiple of Nicox is 3.6x.
Is Nicox profitable? Yes, Nicox is EBITDA-positive (as of the last 12 months).

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