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Nykaa Valuation Multiples
Discover revenue and EBITDA valuation multiples for Nykaa and similar public comparables like Meesho, Vipshop, Zalando, Alibaba Health and more.
Nykaa Overview
About Nykaa
FSN E-Commerce Ventures Ltd is engaged in the business of manufacturing, selling and distributing beauty, wellness, fitness, personal care, health care, skin care, hair care products, fashion garments, fashion accessories and equipments on the online portals or websites such as e-commerce, m-commerce, internet, intranet as well as through physical stores, stalls, general trade and modern trade etc. In addition, it also provides marketing support services. The group operates in the following segments: Beauty, Fashion, and Others. The majority of its revenue is generated from the Beauty segment, which comprises online beauty platform, beauty-owned brands, physical retail stores, eB2B distribution business, and Nykaa Man BPC business. Geographically, the group derives key revenue from India.
Founded
2012
HQ
Employees
491
Website
Sectors
Financials (LTM)
EV
$8B
Nykaa Financials
Nykaa reported last 12-month revenue of $1B and EBITDA of $80M.
In the same LTM period, Nykaa generated $551M in gross profit, $80M in EBITDA, and $23M in net income.
Revenue (LTM)
Nykaa P&L
In the most recent fiscal year, Nykaa reported revenue of $934M and EBITDA of $56M.
Nykaa expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $1B | XXX | $934M | XXX | XXX | XXX |
| Gross Profit | $551M | XXX | $353M | XXX | XXX | XXX |
| Gross Margin | 51% | XXX | 38% | XXX | XXX | XXX |
| EBITDA | $80M | XXX | $56M | XXX | XXX | XXX |
| EBITDA Margin | 7% | XXX | 6% | XXX | XXX | XXX |
| EBIT Margin | 4% | XXX | 3% | XXX | XXX | XXX |
| Net Profit | $23M | XXX | $8M | XXX | XXX | XXX |
| Net Margin | 2% | XXX | 1% | XXX | XXX | XXX |
| Net Debt | — | — | $89M | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Nykaa Stock Performance
Nykaa has current market cap of $8B, and enterprise value of $8B.
Market Cap Evolution
Nykaa's stock price is $2.72.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $8B | $8B | -2.4% | XXX | XXX | XXX | $0.00 |
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Start Free TrialNykaa Valuation Multiples
Nykaa trades at 7.3x EV/Revenue multiple, and 98.0x EV/EBITDA.
EV / Revenue (LTM)
Nykaa Financial Valuation Multiples
As of April 14, 2026, Nykaa has market cap of $8B and EV of $8B.
Equity research analysts estimate Nykaa's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Nykaa has a P/E ratio of 344.5x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $8B | XXX | $8B | XXX | XXX | XXX |
| EV (current) | $8B | XXX | $8B | XXX | XXX | XXX |
| EV/Revenue | 7.3x | XXX | 8.4x | XXX | XXX | XXX |
| EV/EBITDA | 98.0x | XXX | 139.9x | XXX | XXX | XXX |
| EV/EBIT | 170.3x | XXX | 310.7x | XXX | XXX | XXX |
| EV/Gross Profit | 14.3x | XXX | 22.3x | XXX | XXX | XXX |
| P/E | 344.5x | XXX | 922.6x | XXX | XXX | XXX |
| EV/FCF | 331.8x | XXX | 219.4x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Nykaa 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.
Nykaa Margins & Growth Rates
Nykaa's revenue in the last 12 month grew by 26%.
Nykaa's revenue per employee in the last FY averaged $1.9M, while opex per employee averaged $0.7M for the same period.
Nykaa's rule of 40 is 35% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Nykaa's rule of X is 75% (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).
Nykaa Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 26% | XXX | 15% | XXX | XXX | XXX |
| EBITDA Margin | 7% | XXX | 6% | XXX | XXX | XXX |
| EBITDA Growth | 47% | XXX | 40% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 35% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 75% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $1.9M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.7M | XXX | XXX | XXX |
| S&M Expenses to Revenue | 10% | XXX | 18% | XXX | XXX | XXX |
| G&A Expenses to Revenue | — | XXX | 1% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 35% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Nykaa Public Comps
See public comps and valuation multiples for other Consumer E-commerce comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Nykaa | XXX | XXX | XXX | XXX | XXX | XXX |
| Meesho | XXX | XXX | XXX | XXX | XXX | XXX |
| Vipshop | XXX | XXX | XXX | XXX | XXX | XXX |
| Zalando | XXX | XXX | XXX | XXX | XXX | XXX |
| Alibaba Health | XXX | XXX | XXX | XXX | XXX | XXX |
| Wayfair | 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 Activity
Nykaa acquired XXX companies to date.
Last acquisition by Nykaa was on XXXXXXXX, XXXXX. Nykaa acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Nykaa
| 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 TrialNykaa Investment Activity
Nykaa invested in XXX companies to date.
Nykaa made its latest investment on XXXXXXXX, XXXXX. Nykaa invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Nykaa
| 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 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 over 491 employees. |
| Who is the CEO of Nykaa? | Nykaa's CEO is Falguni Sanjay Nayar. |
| Is Nykaa publicly listed? | Yes, Nykaa is a public company listed on National Stock Exchange of India. |
| What is the stock symbol of Nykaa? | Nykaa trades under NYKAA ticker. |
| When did Nykaa go public? | Nykaa went public in 2021. |
| Who are competitors of Nykaa? | Nykaa main competitors are Meesho, Vipshop, Zalando, Alibaba Health. |
| What is the current market cap of Nykaa? | Nykaa's current market cap is $8B. |
| What is the current revenue of Nykaa? | Nykaa's last 12 months revenue is $1B. |
| What is the current revenue growth of Nykaa? | Nykaa revenue growth (NTM/LTM) is 26%. |
| What is the current EV/Revenue multiple of Nykaa? | Current revenue multiple of Nykaa is 7.3x. |
| Is Nykaa profitable? | Yes, Nykaa is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Nykaa? | Nykaa's last 12 months EBITDA is $80M. |
| What is Nykaa's EBITDA margin? | Nykaa's last 12 months EBITDA margin is 7%. |
| What is the current EV/EBITDA multiple of Nykaa? | Current EBITDA multiple of Nykaa is 98.0x. |
| What is the current FCF of Nykaa? | Nykaa's last 12 months FCF is $24M. |
| What is Nykaa's FCF margin? | Nykaa's last 12 months FCF margin is 2%. |
| What is the current EV/FCF multiple of Nykaa? | Current FCF multiple of Nykaa is 331.8x. |
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