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PhotoCure Valuation Multiples
Discover revenue and EBITDA valuation multiples for PhotoCure and similar public comparables like BioVersys, Caribou Biosciences, Macrogenics, Sagimet Biosciences and more.
PhotoCure Overview
About PhotoCure
PhotoCure ASA is a Norway-based business group associated with the research, development, production, distribution, marketing, and sales of pharmaceutical products and specialty pharmaceutical companies. The technology platform of the company is focused on the field of photodynamic diagnosis and treatment of cancer. The company has two operating segments of the group the Commercial franchise and the Development portfolio. It generates prime revenue from the Commercial franchise segment, which includes Hexvix and Cysview products. Its geographical segments are Nordic countries, Germany, France, Austria, the United Kingdom, BeNeLux, Italy, Other European countries, Canada, and the United States.
Founded
1997
HQ

Employees
101
Website
Financials (LTM)
EV
$186M
PhotoCure Financials
PhotoCure reported last 12-month revenue of $59M and EBITDA of $8M.
In the same LTM period, PhotoCure generated $55M in gross profit, $8M in EBITDA, and $3M in net income.
Revenue (LTM)
PhotoCure P&L
In the most recent fiscal year, PhotoCure reported revenue of $57M and EBITDA of $6M.
PhotoCure expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $59M | XXX | $57M | XXX | XXX | XXX |
| Gross Profit | $55M | XXX | $52M | XXX | XXX | XXX |
| Gross Margin | 93% | XXX | 92% | XXX | XXX | XXX |
| EBITDA | $8M | XXX | $6M | XXX | XXX | XXX |
| EBITDA Margin | 13% | XXX | 10% | XXX | XXX | XXX |
| EBIT Margin | 5% | XXX | (0%) | XXX | XXX | XXX |
| Net Profit | $3M | XXX | ($160K) | XXX | XXX | XXX |
| Net Margin | 4% | XXX | (0%) | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
PhotoCure Stock Performance
PhotoCure has current market cap of $215M, and enterprise value of $186M.
Market Cap Evolution
PhotoCure's stock price is $8.09.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $186M | $215M | 7.4% | XXX | XXX | XXX | $-0.01 |
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Start Free TrialPhotoCure Valuation Multiples
PhotoCure trades at 3.1x EV/Revenue multiple, and 23.5x EV/EBITDA.
EV / Revenue (LTM)
PhotoCure Financial Valuation Multiples
As of April 18, 2026, PhotoCure has market cap of $215M and EV of $186M.
Equity research analysts estimate PhotoCure's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
PhotoCure has a P/E ratio of 85.6x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $215M | XXX | $215M | XXX | XXX | XXX |
| EV (current) | $186M | XXX | $186M | XXX | XXX | XXX |
| EV/Revenue | 3.1x | XXX | 3.3x | XXX | XXX | XXX |
| EV/EBITDA | 23.5x | XXX | 31.6x | XXX | XXX | XXX |
| EV/EBIT | 67.3x | XXX | (2341.5x) | XXX | XXX | XXX |
| EV/Gross Profit | 3.4x | XXX | 3.6x | XXX | XXX | XXX |
| P/E | 85.6x | XXX | (1345.5x) | XXX | XXX | XXX |
| EV/FCF | 178.2x | XXX | 331.6x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified PhotoCure 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.


PhotoCure Margins & Growth Rates
PhotoCure's revenue in the last 12 month grew by 16%.
PhotoCure's revenue per employee in the last FY averaged $0.6M, while opex per employee averaged $0.5M for the same period.
PhotoCure's rule of 40 is 38% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
PhotoCure's rule of X is 65% (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).
PhotoCure Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 16% | XXX | 19% | XXX | XXX | XXX |
| EBITDA Margin | 13% | XXX | 10% | XXX | XXX | XXX |
| EBITDA Growth | 66% | XXX | 117% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 38% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 65% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.6M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.5M | XXX | XXX | XXX |
| S&M Expenses to Revenue | — | XXX | 68% | XXX | XXX | XXX |
| R&D Expenses to Revenue | — | XXX | 0% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 92% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
PhotoCure Public Comps
See public comps and valuation multiples for other Biopharmaceuticals comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| PhotoCure | XXX | XXX | XXX | XXX | XXX | XXX |
| BioVersys | XXX | XXX | XXX | XXX | XXX | XXX |
| Caribou Biosciences | XXX | XXX | XXX | XXX | XXX | XXX |
| Macrogenics | XXX | XXX | XXX | XXX | XXX | XXX |
| Sagimet Biosciences | XXX | XXX | XXX | XXX | XXX | XXX |
| ProQR Therapeutics | 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.
PhotoCure M&A Activity
PhotoCure acquired XXX companies to date.
Last acquisition by PhotoCure was on XXXXXXXX, XXXXX. PhotoCure acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by PhotoCure
| 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 TrialPhotoCure Investment Activity
PhotoCure invested in XXX companies to date.
PhotoCure made its latest investment on XXXXXXXX, XXXXX. PhotoCure invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by PhotoCure
| 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 PhotoCure
| When was PhotoCure founded? | PhotoCure was founded in 1997. |
| Where is PhotoCure headquartered? | PhotoCure is headquartered in Norway. |
| How many employees does PhotoCure have? | As of today, PhotoCure has over 101 employees. |
| Who is the CEO of PhotoCure? | PhotoCure's CEO is Daniel Schneider. |
| Is PhotoCure publicly listed? | Yes, PhotoCure is a public company listed on Oslo Børs. |
| What is the stock symbol of PhotoCure? | PhotoCure trades under PHO ticker. |
| When did PhotoCure go public? | PhotoCure went public in 2000. |
| Who are competitors of PhotoCure? | PhotoCure main competitors are BioVersys, Caribou Biosciences, Macrogenics, Sagimet Biosciences. |
| What is the current market cap of PhotoCure? | PhotoCure's current market cap is $215M. |
| What is the current revenue of PhotoCure? | PhotoCure's last 12 months revenue is $59M. |
| What is the current revenue growth of PhotoCure? | PhotoCure revenue growth (NTM/LTM) is 16%. |
| What is the current EV/Revenue multiple of PhotoCure? | Current revenue multiple of PhotoCure is 3.1x. |
| Is PhotoCure profitable? | Yes, PhotoCure is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of PhotoCure? | PhotoCure's last 12 months EBITDA is $8M. |
| What is PhotoCure's EBITDA margin? | PhotoCure's last 12 months EBITDA margin is 13%. |
| What is the current EV/EBITDA multiple of PhotoCure? | Current EBITDA multiple of PhotoCure is 23.5x. |
| What is the current FCF of PhotoCure? | PhotoCure's last 12 months FCF is $1M. |
| What is PhotoCure's FCF margin? | PhotoCure's last 12 months FCF margin is 2%. |
| What is the current EV/FCF multiple of PhotoCure? | Current FCF multiple of PhotoCure is 178.2x. |
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