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Nitro Games Valuation Multiples
Discover revenue and EBITDA valuation multiples for Nitro Games and similar public comparables like Pyramid Games, Star Vault, TruGolf, ITOXI and more.
Nitro Games Overview
About Nitro Games
Nitro Games PLC is a free-to-play mobile game developer and publisher. The company develops and publishes games for international distribution and sells its expertise as a service to international gaming players as part of its services business. The company specializes in action and shooter games. It has developed games such as East India Company, Commander: Conquest of the Americas, Pirates of Black Cove, Raids of Glory, and many more. Geographically, the company generates the majority of its revenue from North America. The company also generates revenue from the EU, the United Kingdom, and Other countries.
Founded
2007
HQ
Employees
47
Website
Financials (LTM)
EV
$5M
Nitro Games Financials
Nitro Games reported last 12-month revenue of $10M and EBITDA of $2M.
In the same LTM period, Nitro Games generated $8M in gross profit, $2M in EBITDA, and $408K in net income.
Revenue (LTM)
Nitro Games P&L
In the most recent fiscal year, Nitro Games reported revenue of $10M and EBITDA of $2M.
Nitro Games expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $10M | XXX | $10M | XXX | XXX | XXX |
| Gross Profit | $8M | XXX | $8M | XXX | XXX | XXX |
| Gross Margin | 79% | XXX | 77% | XXX | XXX | XXX |
| EBITDA | $2M | XXX | $2M | XXX | XXX | XXX |
| EBITDA Margin | 21% | XXX | 19% | XXX | XXX | XXX |
| EBIT Margin | 5% | XXX | 3% | XXX | XXX | XXX |
| Net Profit | $408K | XXX | $162K | XXX | XXX | XXX |
| Net Margin | 4% | XXX | 2% | XXX | XXX | XXX |
| Net Debt | — | — | $2M | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Nitro Games Stock Performance
Nitro Games has current market cap of $4M, and enterprise value of $5M.
Market Cap Evolution
Nitro Games' stock price is $0.14.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $5M | $4M | 0.3% | XXX | XXX | XXX | $0.01 |
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Start Free TrialNitro Games Valuation Multiples
Nitro Games trades at 0.5x EV/Revenue multiple, and 2.4x EV/EBITDA.
EV / Revenue (LTM)
Nitro Games Financial Valuation Multiples
As of April 20, 2026, Nitro Games has market cap of $4M and EV of $5M.
Equity research analysts estimate Nitro Games' 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Nitro Games has a P/E ratio of 8.7x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $4M | XXX | $4M | XXX | XXX | XXX |
| EV (current) | $5M | XXX | $5M | XXX | XXX | XXX |
| EV/Revenue | 0.5x | XXX | 0.5x | XXX | XXX | XXX |
| EV/EBITDA | 2.4x | XXX | 2.7x | XXX | XXX | XXX |
| EV/EBIT | 10.1x | XXX | 18.2x | XXX | XXX | XXX |
| EV/Gross Profit | 0.6x | XXX | 0.7x | XXX | XXX | XXX |
| P/E | 8.7x | XXX | 21.9x | XXX | XXX | XXX |
| EV/FCF | — | XXX | 14.0x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Nitro Games Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Nitro Games Margins & Growth Rates
Nitro Games' revenue in the last 12 month grew by 6%.
Nitro Games' revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $0.2M for the same period.
Nitro Games' rule of 40 is 34% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Nitro Games' rule of X is 45% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Nitro Games Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 6% | XXX | 6% | XXX | XXX | XXX |
| EBITDA Margin | 21% | XXX | 19% | XXX | XXX | XXX |
| EBITDA Growth | 32% | XXX | 45% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 34% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 45% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.2M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.2M | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 74% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Nitro Games Public Comps
See public comps and valuation multiples for other Gaming - Mobile and Gaming - Console & PC comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Nitro Games | XXX | XXX | XXX | XXX | XXX | XXX |
| Pyramid Games | XXX | XXX | XXX | XXX | XXX | XXX |
| Star Vault | XXX | XXX | XXX | XXX | XXX | XXX |
| TruGolf | XXX | XXX | XXX | XXX | XXX | XXX |
| ITOXI | XXX | XXX | XXX | XXX | XXX | XXX |
| Sheepyard | 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.
Nitro Games M&A Activity
Nitro Games acquired XXX companies to date.
Last acquisition by Nitro Games was on XXXXXXXX, XXXXX. Nitro Games acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Nitro Games
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialNitro Games Investment Activity
Nitro Games invested in XXX companies to date.
Nitro Games made its latest investment on XXXXXXXX, XXXXX. Nitro Games invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Nitro Games
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Nitro Games
| When was Nitro Games founded? | Nitro Games was founded in 2007. |
| Where is Nitro Games headquartered? | Nitro Games is headquartered in Finland. |
| How many employees does Nitro Games have? | As of today, Nitro Games has over 47 employees. |
| Is Nitro Games publicly listed? | Yes, Nitro Games is a public company listed on Nasdaq Stockholm. |
| What is the stock symbol of Nitro Games? | Nitro Games trades under NITRO ticker. |
| When did Nitro Games go public? | Nitro Games went public in 2017. |
| Who are competitors of Nitro Games? | Nitro Games main competitors are Pyramid Games, Star Vault, TruGolf, ITOXI. |
| What is the current market cap of Nitro Games? | Nitro Games' current market cap is $4M. |
| What is the current revenue of Nitro Games? | Nitro Games' last 12 months revenue is $10M. |
| What is the current revenue growth of Nitro Games? | Nitro Games revenue growth (NTM/LTM) is 6%. |
| What is the current EV/Revenue multiple of Nitro Games? | Current revenue multiple of Nitro Games is 0.5x. |
| Is Nitro Games profitable? | Yes, Nitro Games is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Nitro Games? | Nitro Games' last 12 months EBITDA is $2M. |
| What is Nitro Games' EBITDA margin? | Nitro Games' last 12 months EBITDA margin is 21%. |
| What is the current EV/EBITDA multiple of Nitro Games? | Current EBITDA multiple of Nitro Games is 2.4x. |
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