OneSpan Valuation Multiples

OneSpan Overview

About OneSpan

OneSpan Inc is a provider of information technology security solutions for banking and financial services and application security markets. Its solutions secure and manage access to digital assets and protect online transactions, via mobile devices and in-person. Authentication and anti-fraud solutions are the organization's primary product offerings and include multifactor authentication and virtual private network access capabilities. The company derives revenues from hardware and license fees, maintenance and support fees, and subscription fees. A large majority of the firm's revenue is generated in Europe, the Middle East, and Africa, and the rest in the United States and Asia-Pacific region.

Founded

1990

HQ

Employees

571

Website

onespan.com

Sectors

CybersecurityB2B SaaSHorizontal SaaS

Financials (LTM)

Revenue: $244M

EBITDA: $75M

EV

$322M

Valuation Multiples

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OneSpan Financials

OneSpan reported last 12-month revenue of $244M and EBITDA of $75M.

In the same LTM period, OneSpan generated $180M in gross profit, $75M in EBITDA, and $66M in net income.

OneSpan P&L

In the most recent fiscal year, OneSpan reported revenue of $243M and EBITDA of $78M.

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

OneSpan Stock Performance

OneSpan has current market cap of $399M, and enterprise value of $322M.

OneSpan's stock price is $10.49.

OneSpan Valuation Multiples

OneSpan trades at 1.3x EV/Revenue multiple, and 4.3x EV/EBITDA.

OneSpan Financial Valuation Multiples

As of March 17, 2026, OneSpan has market cap of $399M and EV of $322M.

Equity research analysts estimate OneSpan's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

OneSpan has a P/E ratio of 6.1x.

OneSpan Margins & Growth Rates

OneSpan's revenue in the last 12 month grew by 2%.

OneSpan's revenue per employee in the last FY averaged $0.4M.

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

OneSpan's rule of X is 35% (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).

OneSpan Public Comps

See public comps and valuation multiples for other Cybersecurity comps.

OneSpan M&A Activity

OneSpan acquired XXX companies to date.

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

OneSpan Investment Activity

OneSpan invested in XXX companies to date.

OneSpan made its latest investment on XXXXXXXX, XXXXX. OneSpan invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).