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Note Valuation Multiples
Discover revenue and EBITDA valuation multiples for Note and similar public comparables like Muehlbauer Holding, Nedap, Kimball Electronics, First Sensor and more.
Note Overview
About Note
Note AB is a Swedish based EMS partner. engaged in manufacturing electronics-based products that require high technology competence and flexibility. Its business has four segments which are Industrial, Communication, Medtech and Greentech.
Founded
1999
HQ
Employees
1.2K
Website
Financials (LTM)
EV
$691M
Note Financials
Note reported last 12-month revenue of $454M and EBITDA of $61M.
In the same LTM period, Note generated $62M in gross profit, $61M in EBITDA, and $33M in net income.
Revenue (LTM)
Note P&L
In the most recent fiscal year, Note reported revenue of $428M and EBITDA of $57M.
Note expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $454M | XXX | $428M | XXX | XXX | XXX |
| Gross Profit | $62M | XXX | $58M | XXX | XXX | XXX |
| Gross Margin | 14% | XXX | 14% | XXX | XXX | XXX |
| EBITDA | $61M | XXX | $57M | XXX | XXX | XXX |
| EBITDA Margin | 13% | XXX | 13% | XXX | XXX | XXX |
| EBIT Margin | 10% | XXX | 10% | XXX | XXX | XXX |
| Net Profit | $33M | XXX | $32M | XXX | XXX | XXX |
| Net Margin | 7% | XXX | 7% | XXX | XXX | XXX |
| Net Debt | — | — | $27M | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Note Stock Performance
Note has current market cap of $633M, and enterprise value of $691M.
Market Cap Evolution
Note's stock price is $22.16.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $691M | $633M | 0.3% | XXX | XXX | XXX | $1.10 |
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Start Free TrialNote Valuation Multiples
Note trades at 1.5x EV/Revenue multiple, and 11.3x EV/EBITDA.
EV / Revenue (LTM)
Note Financial Valuation Multiples
As of April 19, 2026, Note has market cap of $633M and EV of $691M.
Equity research analysts estimate Note's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Note has a P/E ratio of 19.2x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $633M | XXX | $633M | XXX | XXX | XXX |
| EV (current) | $691M | XXX | $691M | XXX | XXX | XXX |
| EV/Revenue | 1.5x | XXX | 1.6x | XXX | XXX | XXX |
| EV/EBITDA | 11.3x | XXX | 12.1x | XXX | XXX | XXX |
| EV/EBIT | 15.1x | XXX | 16.2x | XXX | XXX | XXX |
| EV/Gross Profit | 11.2x | XXX | 12.0x | XXX | XXX | XXX |
| P/E | 19.2x | XXX | 20.1x | XXX | XXX | XXX |
| EV/FCF | 117.3x | XXX | 17.5x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Note 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.
Note Margins & Growth Rates
Note's revenue in the last 12 month grew by 18%.
Note's revenue per employee in the last FY averaged $0.4M, while opex per employee averaged $0.0M for the same period.
Note's rule of 40 is 38% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Note's rule of X is 74% (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).
Note Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 18% | XXX | 21% | XXX | XXX | XXX |
| EBITDA Margin | 13% | XXX | 13% | XXX | XXX | XXX |
| EBITDA Growth | 20% | XXX | 23% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 38% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 74% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.4M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.0M | XXX | XXX | XXX |
| S&M Expenses to Revenue | 2% | XXX | 2% | XXX | XXX | XXX |
| G&A Expenses to Revenue | 2% | XXX | 2% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 4% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Note Public Comps
See public comps and valuation multiples for other Computer Hardware and Electronic Components comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Note | XXX | XXX | XXX | XXX | XXX | XXX |
| Muehlbauer Holding | XXX | XXX | XXX | XXX | XXX | XXX |
| Nedap | XXX | XXX | XXX | XXX | XXX | XXX |
| Kimball Electronics | XXX | XXX | XXX | XXX | XXX | XXX |
| First Sensor | XXX | XXX | XXX | XXX | XXX | XXX |
| Filtronic | 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.
Note M&A Activity
Note acquired XXX companies to date.
Last acquisition by Note was on XXXXXXXX, XXXXX. Note acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Note
| 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 TrialNote Investment Activity
Note invested in XXX companies to date.
Note made its latest investment on XXXXXXXX, XXXXX. Note invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Note
| 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 Note
| When was Note founded? | Note was founded in 1999. |
| Where is Note headquartered? | Note is headquartered in Sweden. |
| How many employees does Note have? | As of today, Note has over 1K employees. |
| Who is the CEO of Note? | Note's CEO is Johannes Lind-Widestam. |
| Is Note publicly listed? | Yes, Note is a public company listed on Nasdaq Stockholm. |
| What is the stock symbol of Note? | Note trades under NOTE ticker. |
| When did Note go public? | Note went public in 2004. |
| Who are competitors of Note? | Note main competitors are Muehlbauer Holding, Nedap, Kimball Electronics, First Sensor. |
| What is the current market cap of Note? | Note's current market cap is $633M. |
| What is the current revenue of Note? | Note's last 12 months revenue is $454M. |
| What is the current revenue growth of Note? | Note revenue growth (NTM/LTM) is 18%. |
| What is the current EV/Revenue multiple of Note? | Current revenue multiple of Note is 1.5x. |
| Is Note profitable? | Yes, Note is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Note? | Note's last 12 months EBITDA is $61M. |
| What is Note's EBITDA margin? | Note's last 12 months EBITDA margin is 13%. |
| What is the current EV/EBITDA multiple of Note? | Current EBITDA multiple of Note is 11.3x. |
| What is the current FCF of Note? | Note's last 12 months FCF is $6M. |
| What is Note's FCF margin? | Note's last 12 months FCF margin is 1%. |
| What is the current EV/FCF multiple of Note? | Current FCF multiple of Note is 117.3x. |
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