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Nykaa Valuation Multiples

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

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 $975M

LTM EBITDA $62.4M

EV

$6.9B

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Nykaa Financials

Nykaa has a last 12-month revenue (LTM) of $975M and a last 12-month EBITDA of $62.4M.

In the most recent fiscal year, Nykaa achieved revenue of $931M and an EBITDA of $58.7M.

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

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Nykaa P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $975M XXX $931M XXX XXX XXX
Gross Profit $425M XXX $407M XXX XXX XXX
Gross Margin 44% XXX 44% XXX XXX XXX
EBITDA $62.4M XXX $58.7M XXX XXX XXX
EBITDA Margin 6% XXX 6% XXX XXX XXX
EBIT $31.6M XXX $24.3M XXX XXX XXX
EBIT Margin 3% XXX 3% XXX XXX XXX
Net Profit $12.3M XXX $7.7M XXX XXX XXX
Net Margin 1% XXX 1% XXX XXX XXX
Net Debt XXX XXX $98.0M XXX XXX XXX

Financial data powered by Morningstar, Inc.

Nykaa Stock Performance

As of May 30, 2025, Nykaa's stock price is INR 203 (or $2).

Nykaa has current market cap of INR 581B (or $6.8B), and EV of INR 591B (or $6.9B).

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Nykaa Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$6.9B $6.8B XXX XXX XXX XXX $0.00

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Nykaa Valuation Multiples

As of May 30, 2025, Nykaa has market cap of $6.8B and EV of $6.9B.

Nykaa's trades at 7.8x EV/Revenue multiple, and 125.8x EV/EBITDA.

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 551.1x.

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Nykaa Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $6.8B XXX $6.8B XXX XXX XXX
EV (current) $6.9B XXX $6.9B XXX XXX XXX
EV/Revenue 7.1x XXX 7.8x XXX XXX XXX
EV/EBITDA 110.8x XXX 125.8x XXX XXX XXX
EV/EBIT 218.6x XXX 317.0x XXX XXX XXX
EV/Gross Profit 16.3x XXX n/a XXX XXX XXX
P/E 551.1x XXX 1008.5x XXX XXX XXX
EV/FCF 7856.5x XXX 260.2x XXX XXX XXX

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Nykaa Margins & Growth Rates

Nykaa's last 12 month revenue growth is 26%

Nykaa's revenue per employee in the last FY averaged $3.0M, while opex per employee averaged $1.2M for the same period.

Nykaa's rule of 40 is 32% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Nykaa's rule of X is 71% (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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Nykaa Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 26% XXX 25% XXX XXX XXX
EBITDA Margin 6% XXX 6% XXX XXX XXX
EBITDA Growth 54% XXX 48% XXX XXX XXX
Rule of 40 32% XXX 32% XXX XXX XXX
Bessemer Rule of X XXX XXX 71% XXX XXX XXX
Revenue per Employee XXX XXX $3.0M XXX XXX XXX
Opex per Employee XXX XXX $1.2M XXX XXX XXX
S&M Expenses to Revenue XXX XXX n/a XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX n/a XXX XXX XXX
Opex to Revenue XXX XXX 41% 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 $6.8B
What is the current revenue of Nykaa? Nykaa's last 12 months revenue is $975M.
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 7.1x.
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 $62.4M.
What is Nykaa's EBITDA margin? Nykaa's last 12 months EBITDA margin is 6%.
What is the current EV/EBITDA multiple of Nykaa? Current EBITDA multiple of Nykaa is 110.8x.
What is the current FCF of Nykaa? Nykaa's last 12 months FCF is $0.9M.
What is Nykaa's FCF margin? Nykaa's last 12 months FCF margin is 0%.
What is the current EV/FCF multiple of Nykaa? Current FCF multiple of Nykaa is 7856.5x.

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