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Nykaa Valuation Multiples

Discover revenue and EBITDA valuation multiples for Nykaa and similar public comparables like BIKE24, Temple & Webster, and Kogan.com.

Nykaa Overview

About Nykaa

FSN E-Commerce Ventures Ltd is engaged in the business of selling & distribution of beauty, wellness, fitness, personal care, health care, skin care, hair care products on the online platforms or websites such as e-commerce, m-commerce, internet, intranet. It offers digitally native consumer technology platform, delivers a content-led, lifestyle retail experience to consumers. It has a diverse portfolio of beauty, personal care, and fashion products. The Company operates in a single geographical environment i.e., in India.


Founded

2012

HQ

India
Employees

311

Website

nykaa.com

Financials

LTM Revenue $939M

LTM EBITDA $58.1M

EV

$6.1B

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Nykaa Financials

Nykaa has a last 12-month revenue of $939M and a last 12-month EBITDA of $58.1M.

In the most recent fiscal year, Nykaa achieved revenue of $742M and an EBITDA of $43.5M.

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

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Nykaa P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $597M $742M XXX XXX XXX
Gross Profit $181M $253M XXX XXX XXX
Gross Margin 30% 34% XXX XXX XXX
EBITDA $32.9M $43.5M XXX XXX XXX
EBITDA Margin 6% 6% XXX XXX XXX
Net Profit $4.8M $2.2M XXX XXX XXX
Net Margin 1% 0% XXX XXX XXX
Net Debt $31.0M $48.7M XXX XXX XXX

Financial data powered by Morningstar, Inc.

Nykaa Stock Performance

As of April 15, 2025, Nykaa's stock price is INR 180 (or $2).

Nykaa has current market cap of INR 514B (or $6.0B), and EV of INR 523B (or $6.1B).

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Nykaa Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$6.1B $6.0B XXX XXX XXX XXX $0.00

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Nykaa Valuation Multiples

As of April 15, 2025, Nykaa has market cap of $6.0B and EV of $6.1B.

Nykaa's trades at 6.5x LTM EV/Revenue multiple, and 104.6x LTM EBITDA.

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

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Nykaa Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $6.1B XXX XXX XXX
EV/Revenue 6.9x XXX XXX XXX
EV/EBITDA 113.7x XXX XXX XXX
P/E 628.0x XXX XXX XXX
P/E/Growth 4.8x XXX XXX XXX
EV/FCF -1030.6x XXX XXX XXX

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

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Nykaa Valuation Multiples

Nykaa's NTM/LTM revenue growth is 26%

Nykaa's revenue per employee for the last fiscal year averaged $2.4M, while opex per employee averaged $0.9M for the same period.

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

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Nykaa Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth 24% XXX XXX XXX XXX
EBITDA Margin 6% XXX XXX XXX XXX
EBITDA Growth 32% XXX XXX XXX XXX
Rule of 40 (SaaS-only) 32% XXX XXX XXX XXX
Revenue per Employee $2.4M XXX XXX XXX XXX
Opex per Employee $0.9M XXX XXX XXX XXX
S&M Expenses to Revenue 19% 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 40% XXX XXX XXX XXX

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Nykaa Public Comps

See public comps and valuation multiples for Consumer E-commerce and Vertical E-commerce comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Brillia Inc XXX XXX XXX XXX XXX XXX
Adore Beauty XXX XXX XXX XXX XXX XXX
Kogan.com XXX XXX XXX XXX XXX XXX
Temple & Webster XXX XXX XXX XXX XXX XXX
BIKE24 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.

Nykaa M&A and Investment Activity

Nykaa acquired  XXX companies to date.

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

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Latest Acquisitions by Nykaa

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 Nykaa

When was Nykaa founded? Nykaa was founded in 2012.
Where is Nykaa headquartered? Nykaa is headquartered in India.
How many employees does Nykaa have? As of today, Nykaa has 311 employees.
Who is the CEO of Nykaa? Nykaa's CEO is Ms. Falguni Sanjay Nayar.
Is Nykaa publicy listed? Yes, Nykaa is a public company listed on BOM.
What is the stock symbol of Nykaa? Nykaa trades under 543384 ticker.
When did Nykaa go public? Nykaa went public in 2021.
Who are competitors of Nykaa? Similar companies to Nykaa include e.g. Brillia Inc, Adore Beauty, Kogan.com, Temple & Webster.
What is the current market cap of Nykaa? Nykaa's current market cap is $6.0B
What is the current revenue of Nykaa? Nykaa's last 12-month revenue is $939M.
What is the current EBITDA of Nykaa? Nykaa's last 12-month EBITDA is $58.1M.
What is the current EV/Revenue multiple of Nykaa? Current revenue multiple of Nykaa is 6.5x.
What is the current EV/EBITDA multiple of Nykaa? Current EBITDA multiple of Nykaa is 104.6x.
What is the current revenue growth of Nykaa? Nykaa revenue growth between 2023 and 2024 was 24%.
Is Nykaa profitable? Yes, Nykaa is EBITDA-positive (as of the last 12 months).

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