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QleanAir Valuation Multiples

Discover revenue and EBITDA valuation multiples for QleanAir and similar public comparables like Capsol Technologies, SW Umwelttechnik, Enviro Systems, The Environmental Group and more.

QleanAir Overview

About QleanAir

QleanAir AB is a provider of clean indoor environment solutions. The company’s business model is based on rental contracts for modular solutions with a full-service offer. Its solutions are developed using filter technology that traps, filters and recycles indoor air. The product portfolio consists of stand-alone air cleaners (Air Cleaners), solutions for protection against passive smoking (Cabin Solutions) and flexible, modular cleanrooms (Cleanrooms). The company’s main markets are EMEA, APAC and the Americas.


Founded

2011

HQ

Sweden

Employees

118

Financials (LTM)

Revenue: $50M
EBITDA: $8M

EV

$51M

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QleanAir Financials

QleanAir reported last 12-month revenue of $50M and EBITDA of $8M.

In the same LTM period, QleanAir generated $35M in gross profit, $8M in EBITDA, and $3M in net income.

Revenue (LTM)


QleanAir P&L

In the most recent fiscal year, QleanAir reported revenue of $50M and EBITDA of $8M.

QleanAir is profitable as of last fiscal year, with gross margin of 66%, EBITDA margin of 16%, and net margin of 6%.

See analyst estimates for QleanAir
LTMLast FY202320242025202620272028
Revenue$50M$50M$54M$48M$49M
Gross Profit$35M$34M$37M$31M$34M
Gross Margin69%66%68%65%69%
EBITDA$8M$8M$11M$5M$8M
EBITDA Margin15%16%21%11%17%
EBIT Margin9%9%13%3%9%
Net Profit$3M$3M$5M($154K)$3M
Net Margin6%6%9%(0%)6%
Net Debt—$13M———

Financial data powered by Morningstar, Inc.

QleanAir Stock Performance

QleanAir has current market cap of $36M, and enterprise value of $51M.

Market Cap Evolution


QleanAir's stock price is $2.45.

QleanAir share price decreased by 13.7% in the last 30 days, and increased by 47.5% in the last year.

QleanAir has an EPS (earnings per share) of $0.20.

See more trading valuation data for QleanAir
EVMarket CapPrice 1DPrice 1MPrice 3MPrice 12MEPS
$51M$36M-0.3%-13.7%-17.6%47.5%$0.20

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QleanAir Valuation Multiples

QleanAir trades at 1.0x EV/Revenue multiple, and 6.5x EV/EBITDA.

See NTM and 2027E valuation multiples for QleanAir

EV / Revenue (LTM)


QleanAir Financial Valuation Multiples

As of May 26, 2026, QleanAir has market cap of $36M and EV of $51M.

QleanAir has a P/E ratio of 12.4x.

LTMLast FY202320242025202620272028
EV/Revenue1.0x1.0x0.9x1.0x1.0x
EV/EBITDA6.5x6.1x4.4x9.7x6.1x
EV/EBIT10.9x11.1x7.3x39.3x11.4x
EV/Gross Profit1.5x1.5x1.4x1.6x1.5x
P/E12.4x12.1x7.8x(236.4x)12.1x
EV/FCF—7.7x12.1x29.6x7.7x

Multiples above and below 250x are considered non-meaningful (n/m). Valuation data powered by FactSet, Inc. and Morningstar, Inc.

Verified QleanAir 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.

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QleanAir Margins & Growth Rates

QleanAir decreased revenue by 0% and EBITDA by 6% in the last fiscal year.

In the most recent fiscal year, QleanAir reported gross margin of 66%, EBITDA margin of 16%, and net margin of 6%.

See estimated margins and future growth rates for QleanAir

QleanAir Margins

Last FY202420252026202720282029
Gross Margin66%65%69%69%
EBITDA Margin16%11%17%15%
EBIT Margin9%3%9%9%
Net Margin6%(0%)6%6%
FCF Margin13%4%13%—

QleanAir Growth Rates

FY+1/FY23/2424/2525/2626/2727/2828/29
Revenue Growth(0%)(11%)1%3%
Gross Profit Growth3%(15%)6%3%
EBITDA Growth(6%)(55%)58%(6%)
EBIT Growth4%(81%)244%7%
Net Profit Growth1%(103%)(2046%)1%
FCF Growth—(59%)283%—

Data powered by FactSet, Inc. and Morningstar, Inc.

QleanAir Operational KPIs

QleanAir's revenue per employee in the last FY averaged $0.4M, while opex per employee averaged $0.2M for the same period.

QleanAir's Rule of 40 is 19% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

QleanAir's Rule of X is 23% (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).

Access forward-looking KPIs for QleanAir
LTMLast FY202320242025202620272028
Rule of 4020%19%———
Bessemer Rule of X28%23%———
Revenue per Employee—$0.4M———
Opex per Employee—$0.2M———
Opex to Revenue—58%56%62%60%

Data powered by FactSet, Inc. and Morningstar, Inc.

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QleanAir Competitors

QleanAir competitors include Capsol Technologies, SW Umwelttechnik, Enviro Systems, The Environmental Group, Grupa RECYKL, VERTIKAL Group, 374Water, Fuel Tech, ClearSign and Grino Ecologic.

Most QleanAir public comparables operate across Waste & Environmental Services.

EV/RevenueEV/EBITDA
Last FYLTM2027ELast FYLTM2027E
Capsol Technologies4.9x4.8x(7.0x)(8.4x)
SW Umwelttechnik0.8x—6.2x—
Enviro Systems7.5x—(1.0x)—
The Environmental Group0.5x0.5x5.7x5.7x
Grupa RECYKL1.1x—6.8x—
VERTIKAL Group0.7x—5.0x—
374Water201.3x201.3x(2.1x)—
Fuel Tech0.9x0.9x(9.2x)(8.2x)

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About QleanAir

When was QleanAir founded?QleanAir was founded in 2011.
Where is QleanAir headquartered?QleanAir is headquartered in Sweden.
How many employees does QleanAir have?As of today, QleanAir has over 118 employees.
Is QleanAir publicly listed?Yes, QleanAir is a public company listed on Nasdaq Stockholm.
What is the stock symbol of QleanAir?QleanAir trades under QAIR ticker.
When did QleanAir go public?QleanAir went public in 2019.
Who are competitors of QleanAir?QleanAir main competitors include Capsol Technologies, SW Umwelttechnik, Enviro Systems, The Environmental Group, Grupa RECYKL, VERTIKAL Group, 374Water, Fuel Tech, ClearSign, Grino Ecologic.
What is the current market cap of QleanAir?QleanAir's current market cap is $36M.
What is the current revenue of QleanAir?QleanAir's last 12 months revenue is $50M.
What is the current revenue growth of QleanAir?QleanAir revenue growth (NTM/LTM) is 5%.
What is the current EV/Revenue multiple of QleanAir?Current revenue multiple of QleanAir is 1.0x.
Is QleanAir profitable?Yes, QleanAir is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of QleanAir?QleanAir's last 12 months EBITDA is $8M.
What is QleanAir's EBITDA margin?QleanAir's last 12 months EBITDA margin is 15%.
What is the current EV/EBITDA multiple of QleanAir?Current EBITDA multiple of QleanAir is 6.5x.
How many companies QleanAir has acquired to date?QleanAir hasn't acquired any companies yet (or none have been disclosed publicly).
In how many companies QleanAir has invested to date?QleanAir hasn't invested in any companies yet (or none have been disclosed publicly).

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