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Ondas Valuation Multiples
Discover revenue and EBITDA valuation multiples for Ondas and similar public comparables like CIG Shanghai, OSI Systems, Hirose Electric, Canon Marketing Japan and more.
Ondas Overview
About Ondas
Ondas Inc designs, develops, manufactures, sells, and supports FullMAX Software Defined Radio (SDR) technology in the United States, Israel, and India. The company operates in two business segments namely Ondas Networks and Ondas Autonomous Systems. The company generates maximum revenue from Ondas Autonomous Systems through the sales of the Optimus system and separately priced support, maintenance, and ancillary services related to the sale of the Optimus system.
Founded
2014
HQ
Employees
136
Website
Financials (LTM)
EV
$4B
Ondas Financials
Ondas reported last 12-month revenue of $130M and negative EBITDA of ($37M).
In the same LTM period, Ondas generated $60M in gross profit, ($37M) in EBITDA losses, and had net loss of ($125M).
Revenue (LTM)
Ondas P&L
In the most recent fiscal year, Ondas reported revenue of $7M and EBITDA of ($29M).
Ondas expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $130M | XXX | $7M | XXX | XXX | XXX |
| Gross Profit | $60M | XXX | $345K | XXX | XXX | XXX |
| Gross Margin | 46% | XXX | 5% | XXX | XXX | XXX |
| EBITDA | ($37M) | XXX | ($29M) | XXX | XXX | XXX |
| EBITDA Margin | (29%) | XXX | (399%) | XXX | XXX | XXX |
| EBIT Margin | (53%) | XXX | (481%) | XXX | XXX | XXX |
| Net Profit | ($125M) | XXX | ($38M) | XXX | XXX | XXX |
| Net Margin | (96%) | XXX | (528%) | XXX | XXX | XXX |
| Net Debt | — | — | $24M | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Ondas Stock Performance
Ondas has current market cap of $5B, and enterprise value of $4B.
Market Cap Evolution
Ondas' stock price is $10.49.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $4B | $5B | 0.0% | XXX | XXX | XXX | $-0.08 |
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Start Free TrialOndas Valuation Multiples
Ondas trades at 33.0x EV/Revenue multiple, and (114.6x) EV/EBITDA.
EV / Revenue (LTM)
Ondas Financial Valuation Multiples
As of March 29, 2026, Ondas has market cap of $5B and EV of $4B.
Equity research analysts estimate Ondas' 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Ondas has a P/E ratio of (37.8x).
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $5B | XXX | $5B | XXX | XXX | XXX |
| EV (current) | $4B | XXX | $4B | XXX | XXX | XXX |
| EV/Revenue | 33.0x | XXX | 596.1x | XXX | XXX | XXX |
| EV/EBITDA | (114.6x) | XXX | (149.3x) | XXX | XXX | XXX |
| EV/EBIT | (62.0x) | XXX | (123.9x) | XXX | XXX | XXX |
| EV/Gross Profit | 71.5x | XXX | 12421.8x | XXX | XXX | XXX |
| P/E | (37.8x) | XXX | (124.2x) | XXX | XXX | XXX |
| EV/FCF | (63.4x) | XXX | (121.8x) | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Ondas 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.
Ondas Margins & Growth Rates
Ondas' revenue in the last 12 month grew by 246%.
Ondas' revenue per employee in the last FY averaged $1.0M.
Ondas' rule of 40 is 217% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Ondas' rule of X is 586% (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).
Ondas Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 246% | XXX | 605% | XXX | XXX | XXX |
| EBITDA Margin | (29%) | XXX | (399%) | XXX | XXX | XXX |
| EBITDA Growth | 19% | XXX | 12% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 217% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 586% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $1.0M | XXX | XXX | XXX |
| S&M Expenses to Revenue | 18% | XXX | 74% | XXX | XXX | XXX |
| G&A Expenses to Revenue | 52% | XXX | 238% | XXX | XXX | XXX |
| R&D Expenses to Revenue | 24% | XXX | 174% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 486% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Ondas Public Comps
See public comps and valuation multiples for other Computer Hardware and Networking Hardware comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| CIG Shanghai | XXX | XXX | XXX | XXX | XXX | XXX |
| OSI Systems | XXX | XXX | XXX | XXX | XXX | XXX |
| Hirose Electric | XXX | XXX | XXX | XXX | XXX | XXX |
| Canon Marketing Japan | XXX | XXX | XXX | XXX | XXX | XXX |
| Lagercrantz Group | 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.
Ondas M&A Activity
Ondas acquired XXX companies to date.
Last acquisition by Ondas was on XXXXXXXX, XXXXX. Ondas acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Ondas
| 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 TrialOndas Investment Activity
Ondas invested in XXX companies to date.
Ondas made its latest investment on XXXXXXXX, XXXXX. Ondas invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Ondas
| 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 Ondas
| When was Ondas founded? | Ondas was founded in 2014. |
| Where is Ondas headquartered? | Ondas is headquartered in United States. |
| How many employees does Ondas have? | As of today, Ondas has over 136 employees. |
| Is Ondas publicly listed? | Yes, Ondas is a public company listed on Nasdaq. |
| What is the stock symbol of Ondas? | Ondas trades under ONDS ticker. |
| When did Ondas go public? | Ondas went public in 2018. |
| Who are competitors of Ondas? | Ondas main competitors are CIG Shanghai, OSI Systems, Hirose Electric, Canon Marketing Japan. |
| What is the current market cap of Ondas? | Ondas' current market cap is $5B. |
| What is the current revenue of Ondas? | Ondas' last 12 months revenue is $130M. |
| What is the current revenue growth of Ondas? | Ondas revenue growth (NTM/LTM) is 246%. |
| What is the current EV/Revenue multiple of Ondas? | Current revenue multiple of Ondas is 33.0x. |
| Is Ondas profitable? | No, Ondas is not profitable. |
| What is the current EBITDA of Ondas? | Ondas has negative EBITDA and is not profitable. |
| What is Ondas' EBITDA margin? | Ondas' last 12 months EBITDA margin is (29%). |
| What is the current EV/EBITDA multiple of Ondas? | Current EBITDA multiple of Ondas is (114.6x). |
| What is the current FCF of Ondas? | Ondas' last 12 months FCF is ($68M). |
| What is Ondas' FCF margin? | Ondas' last 12 months FCF margin is (52%). |
| What is the current EV/FCF multiple of Ondas? | Current FCF multiple of Ondas is (63.4x). |
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