Ninebot - Public Comps and Valuation Multiples

Ninebot Overview

About Ninebot

Ninebot Ltd is engaged in the research and development, design, manufacturing, distribution and sales of short-distance transportation products. The products offered by the company include electric balance bikes and electric scooters for short distance commuting.

Founded

2014

HQ

Employees

n/a

Website

ninebot.com

Sectors

Sports & Leisure
Electric Vehicles
Micromobility
DeepTech
AutomotiveTech
EnergyTech
Industry 4.0
ClimateTech

Financials

LTM Revenue $3.0B

LTM EBITDA $356M

EV

$3.9B

Valuation Multiples

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Ninebot Financials

As of December 2025, Ninebot reported last 12-month revenue of $3.0B and EBITDA of $356M.

In the same period, Ninebot generated $899M in LTM gross profit and $287M in net income.

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Ninebot P&L

In the most recent fiscal year, Ninebot reported revenue of $2.0B and EBITDA of $220M.

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

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	LTM	NTM	Last FY	FY 2026	FY 2027	FY 2028
Revenue	$3.0B	XXX	$2.0B	XXX	XXX	XXX
Gross Profit	$899M	XXX	$573M	XXX	XXX	XXX
Gross Margin	30%	XXX	28%	XXX	XXX	XXX
EBITDA	$356M	XXX	$220M	XXX	XXX	XXX
EBITDA Margin	12%	XXX	11%	XXX	XXX	XXX
EBIT	$341M	XXX	$179M	XXX	XXX	XXX
EBIT Margin	11%	XXX	9%	XXX	XXX	XXX
Net Profit	$287M	XXX	$155M	XXX	XXX	XXX
Net Margin	10%	XXX	8%	XXX	XXX	XXX
Net Debt	XXX	XXX	n/a	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Ninebot including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $3.0B. EBITDA for the last twelve months was $356M. In the most recent fiscal year, Ninebot achieved $2.0B in revenue and $220M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2026)	Next Fiscal Year (2027)	Two Years Forward (2028)
Total Revenue	$3.0B	Analyst estimates available to subscribers	$2.0B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$899M	Analyst estimates available to subscribers	$573M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	30.0% gross margin	Analyst estimates available to subscribers	28.2% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$356M	Analyst estimates available to subscribers	$220M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	11.9% EBITDA margin	Analyst estimates available to subscribers	10.9% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$341M	Analyst estimates available to subscribers	$179M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	11.4% EBIT margin	Analyst estimates available to subscribers	8.8% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$287M	Analyst estimates available to subscribers	$155M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	9.6% net profit margin	Analyst estimates available to subscribers	7.6% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	n/a	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Ninebot

This financial data table provides comprehensive performance metrics for Ninebot, a company based in China. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Ninebot generated $3.0B in revenue over the last twelve months.
The company achieved $356M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $899M.
Net income over the last twelve months reached $287M.

Fiscal Year Performance

In the most recent fiscal year, Ninebot reported $2.0B in total revenue.
Fiscal year EBITDA was $220M.
The company maintained a gross profit margin of 28.2% in the most recent fiscal year.
EBITDA margin for the fiscal year was 10.9%.
Net profit margin reached 7.6% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Ninebot. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Ninebot Stock Performance

Ninebot has current market cap of CNY 39.1B (or $5.6B), and EV of CNY 27.3B (or $3.9B).

Market Cap Evolution

Ninebot Stock Data

As of January 15, 2026, Ninebot's stock price is CNY 54 (or $8).

See Ninebot trading valuation data

EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$3.9B	$5.6B	XXX	XXX	XXX	XXX	$0.40

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Ninebot Valuation Multiples

Ninebot's trades at 1.3x EV/Revenue multiple, and 10.9x EV/EBITDA.

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Ninebot Financial Valuation Multiples

As of January 15, 2026, Ninebot has market cap of $5.6B and EV of $3.9B.

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

Ninebot has a P/E ratio of 19.5x.

	LTM	NTM	Last FY	FY 2026	FY 2027	FY 2028
Market cap (current)	$5.6B	XXX	$5.6B	XXX	XXX	XXX
EV (current)	$3.9B	XXX	$3.9B	XXX	XXX	XXX
EV/Revenue	1.3x	XXX	1.3x	XXX	XXX	XXX
EV/EBITDA	10.9x	XXX	10.9x	XXX	XXX	XXX
EV/EBIT	11.4x	XXX	11.4x	XXX	XXX	XXX
EV/Gross Profit	4.3x	XXX	n/a	XXX	XXX	XXX
P/E	19.5x	XXX	19.5x	XXX	XXX	XXX
EV/FCF	8.1x	XXX	8.1x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Ninebot Margins & Growth Rates

Ninebot's last 12 month revenue growth is 27%

Ninebot's revenue per employee in the last FY averaged n/a, while opex per employee averaged n/a for the same period.

Ninebot's rule of 40 is 35% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Ninebot's rule of X is 80% (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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Ninebot Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2026	FY 2027	FY 2028
Revenue Growth	27%	XXX	25%	XXX	XXX	XXX
EBITDA Margin	12%	XXX	12%	XXX	XXX	XXX
EBITDA Growth	36%	XXX	72%	XXX	XXX	XXX
Rule of 40	35%	XXX	39%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	80%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	n/a	XXX	XXX	XXX
Opex per Employee	XXX	XXX	n/a	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	5%	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	6%	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	19%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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