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Opera Valuation Multiples

Discover revenue and EBITDA valuation multiples for Opera and similar public comparables like Traders Club, OnMobile, and Cheetah Mobile.

Opera Overview

About Opera

Opera Ltd is a world-wide internet brand with a large, engaged, and growing base. It offers users products and services that include a variety of PC and mobile browsers, Opera Gaming portals and development tools, Opera News content recommendation products, and a number of e-commerce products and services. Its browser's features include tabbed browsing, data savings, PC/mobile sync, and numerous features focused on privacy and security, including ad blocking and a built-in VPN. Its browser products include Opera Mini, Opera Browser for Android and iOS, Opera for Computers, Opera GX and Opera GX Mobile, separate browsers tailored for gamers. Geographically, the company generates maximum revenue from the United States, followed by Singapore, Nigeria, Russia, and other locations.


Founded

2018

HQ

United States of America
Employees

599

Website

opera.com

Financials

LTM Revenue $520M

LTM EBITDA $124M

EV

$1.6B

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Opera Financials

Opera has a last 12-month revenue (LTM) of $520M and a last 12-month EBITDA of $124M.

In the most recent fiscal year, Opera achieved revenue of $481M and an EBITDA of $115M.

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

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Opera P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $520M XXX $481M XXX XXX XXX
Gross Profit $365M XXX $348M XXX XXX XXX
Gross Margin 70% XXX 72% XXX XXX XXX
EBITDA $124M XXX $115M XXX XXX XXX
EBITDA Margin 24% XXX 24% XXX XXX XXX
EBIT $96.5M XXX $92.4M XXX XXX XXX
EBIT Margin 19% XXX 19% XXX XXX XXX
Net Profit $85.4M XXX $80.8M XXX XXX XXX
Net Margin 16% XXX 17% XXX XXX XXX
Net Debt XXX XXX n/a XXX XXX XXX

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Opera Stock Performance

As of May 30, 2025, Opera's stock price is $18.

Opera has current market cap of $1.6B, and EV of $1.6B.

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Opera Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$1.6B $1.6B XXX XXX XXX XXX $0.93

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Opera Valuation Multiples

As of May 30, 2025, Opera has market cap of $1.6B and EV of $1.6B.

Opera's trades at 3.2x EV/Revenue multiple, and 13.5x EV/EBITDA.

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

Opera has a P/E ratio of 19.3x.

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Opera Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $1.6B XXX $1.6B XXX XXX XXX
EV (current) $1.6B XXX $1.6B XXX XXX XXX
EV/Revenue 3.0x XXX 3.2x XXX XXX XXX
EV/EBITDA 12.5x XXX 13.5x XXX XXX XXX
EV/EBIT 16.1x XXX 16.8x XXX XXX XXX
EV/Gross Profit 4.2x XXX n/a XXX XXX XXX
P/E 19.3x XXX 20.4x XXX XXX XXX
EV/FCF 18.0x XXX 20.8x XXX XXX XXX

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Opera Margins & Growth Rates

Opera's last 12 month revenue growth is 18%

Opera's revenue per employee in the last FY averaged $0.8M, while opex per employee averaged $0.4M for the same period.

Opera's rule of 40 is 62% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Opera's rule of X is 69% (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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Opera Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 18% XXX 18% XXX XXX XXX
EBITDA Margin 24% XXX 24% XXX XXX XXX
EBITDA Growth 20% XXX -11% XXX XXX XXX
Rule of 40 62% XXX 42% XXX XXX XXX
Bessemer Rule of X XXX XXX 69% XXX XXX XXX
Revenue per Employee XXX XXX $0.8M XXX XXX XXX
Opex per Employee XXX XXX $0.4M XXX XXX XXX
S&M Expenses to Revenue XXX XXX 27% 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 53% XXX XXX XXX

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Opera Public Comps

See public comps and valuation multiples for Consumer Apps and Productivity Software comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
XXX XXX XXX XXX XXX XXX
Zedge XXX XXX XXX XXX XXX XXX
OnMobile XXX XXX XXX XXX XXX XXX
Traders Club XXX XXX XXX XXX XXX XXX
Cheetah Mobile XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Opera M&A and Investment Activity

Opera acquired  XXX companies to date.

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

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Latest Acquisitions by Opera

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 Opera

When was Opera founded? Opera was founded in 2018.
Where is Opera headquartered? Opera is headquartered in United States of America.
How many employees does Opera have? As of today, Opera has 599 employees.
Who is the CEO of Opera? Opera's CEO is Mr. James Yahui Zhou.
Is Opera publicy listed? Yes, Opera is a public company listed on NAS.
What is the stock symbol of Opera? Opera trades under OPRA ticker.
When did Opera go public? Opera went public in 2018.
Who are competitors of Opera? Similar companies to Opera include e.g. , Zedge, OnMobile, Traders Club.
What is the current market cap of Opera? Opera's current market cap is $1.6B
What is the current revenue of Opera? Opera's last 12 months revenue is $520M.
What is the current revenue growth of Opera? Opera revenue growth (NTM/LTM) is 18%.
What is the current EV/Revenue multiple of Opera? Current revenue multiple of Opera is 3.0x.
Is Opera profitable? Yes, Opera is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of Opera? Opera's last 12 months EBITDA is $124M.
What is Opera's EBITDA margin? Opera's last 12 months EBITDA margin is 24%.
What is the current EV/EBITDA multiple of Opera? Current EBITDA multiple of Opera is 12.5x.
What is the current FCF of Opera? Opera's last 12 months FCF is $85.9M.
What is Opera's FCF margin? Opera's last 12 months FCF margin is 17%.
What is the current EV/FCF multiple of Opera? Current FCF multiple of Opera is 18.0x.

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