Rakuten Valuation Multiples

Rakuten Overview

About Rakuten

Rakuten is a leading e-commerce and fintech service provider in Japan. It has built up a comprehensive Rakuten ecosystem in Japan, including Rakuten Ichiba for e-commerce, Rakuten Travel, Rakuten Card, Rakuten Bank, Rakuten Securities, and became the fourth mobile network operator in Japan in April 2020. The loyalty program, Rakuten Super Points, has encouraged cross-use of services in its ecosystem. About 90% of its revenue is generated from the Japanese market.

Founded

1997

HQ

Employees

29.3K

Website

rakuten.co.jp

Sectors

Consumer E-commerceHorizontal E-commerce

Financials (LTM)

Revenue: $17B

EBITDA: $3B

EV

$10B

Valuation Multiples

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Rakuten Financials

Rakuten reported last 12-month revenue of $17B and EBITDA of $3B.

In the same LTM period, Rakuten generated $15B in gross profit, $3B in EBITDA, and had net loss of ($885M).

Rakuten P&L

In the most recent fiscal year, Rakuten reported revenue of $16B and EBITDA of $3B.

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

Rakuten Stock Performance

Rakuten has current market cap of $11B, and enterprise value of $10B.

Rakuten's stock price is $5.26.

Rakuten Valuation Multiples

Rakuten trades at 0.6x EV/Revenue multiple, and 3.3x EV/EBITDA.

Rakuten Financial Valuation Multiples

As of April 19, 2026, Rakuten has market cap of $11B and EV of $10B.

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

Rakuten has a P/E ratio of (12.9x).

Rakuten Margins & Growth Rates

Rakuten's revenue in the last 12 month grew by 6%.

Rakuten's revenue per employee in the last FY averaged $0.6M, while opex per employee averaged $0.5M for the same period.

Rakuten's rule of 40 is 29% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Rakuten's rule of X is 44% (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).

Rakuten Public Comps

See public comps and valuation multiples for other Consumer E-commerce and Horizontal E-commerce comps.

Rakuten M&A Activity

Rakuten acquired XXX companies to date.

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

Rakuten Investment Activity

Rakuten invested in XXX companies to date.

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