Ramco Systems - Public Comps and Valuation Multiples

Ramco Systems Overview

About Ramco Systems

Ramco Systems Ltd develops software and software products for human capital management, payroll, enterprise resource management, monitoring and evaluation, and maintenance, repair, and overhaul providers in the Aviation industry. The company develops software through its enterprise application assembly and delivery platform Ramco VirtualWorks for transaction systems and Ramco Decision Works for analytics/reporting. The product portfolio of the company includes aviation, aerospace & defense management software, enterprise resource planning software, and payroll & logistics software on the cloud. It as only one operating segment which is Software Solutions & Services.

Founded

1997

HQ

Employees

1.7K+

Website

ramco.com

Sectors

ERP Software

Financials

LTM Revenue $70.0M

LTM EBITDA $9.6M

EV

$212M

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Ramco Systems Financials

As of September 2025, Ramco Systems reported last 12-month revenue of $70.0M and EBITDA of $9.6M.

In the same period, Ramco Systems generated $34.9M in LTM gross profit and -$2.2M in net income.

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Ramco Systems P&L

In the most recent fiscal year, Ramco Systems reported revenue of $66.6M and EBITDA of $7.4M.

Ramco Systems expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$70.0M	XXX	$66.6M	XXX	XXX	XXX
Gross Profit	$34.9M	XXX	$36.1M	XXX	XXX	XXX
Gross Margin	50%	XXX	54%	XXX	XXX	XXX
EBITDA	$9.6M	XXX	$7.4M	XXX	XXX	XXX
EBITDA Margin	14%	XXX	11%	XXX	XXX	XXX
EBIT	-$1.5M	XXX	-$0.6M	XXX	XXX	XXX
EBIT Margin	-2%	XXX	-1%	XXX	XXX	XXX
Net Profit	-$2.2M	XXX	-$3.9M	XXX	XXX	XXX
Net Margin	-3%	XXX	-6%	XXX	XXX	XXX
Net Debt	XXX	XXX	n/a	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Ramco Systems including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $70.0M. EBITDA for the last twelve months was $9.6M. In the most recent fiscal year, Ramco Systems achieved $66.6M in revenue and $7.4M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$70.0M	Analyst estimates available to subscribers	$66.6M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$34.9M	Analyst estimates available to subscribers	$36.1M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	49.8% gross margin	Analyst estimates available to subscribers	54.1% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$9.6M	Analyst estimates available to subscribers	$7.4M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	13.7% EBITDA margin	Analyst estimates available to subscribers	11.0% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	-$1.5M	Analyst estimates available to subscribers	-$0.6M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	-2.1% EBIT margin	Analyst estimates available to subscribers	-0.9% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	-$2.2M	Analyst estimates available to subscribers	-$3.9M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	-3.1% net profit margin	Analyst estimates available to subscribers	-5.8% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	n/a	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Ramco Systems

This financial data table provides comprehensive performance metrics for Ramco Systems, a company based in India. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Ramco Systems generated $70.0M in revenue over the last twelve months.
The company achieved $9.6M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $34.9M.
Net income over the last twelve months reached -$2.2M.

Fiscal Year Performance

In the most recent fiscal year, Ramco Systems reported $66.6M in total revenue.
Fiscal year EBITDA was $7.4M.
The company maintained a gross profit margin of 54.1% in the most recent fiscal year.
EBITDA margin for the fiscal year was 11.0%.
Net profit margin reached -5.8% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Ramco Systems. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Ramco Systems Stock Performance

Ramco Systems has current market cap of INR 19.0B (or $214M), and EV of INR 18.8B (or $212M).

Market Cap Evolution

Ramco Systems Stock Data

As of October 7, 2025, Ramco Systems's stock price is INR 508 (or $6).

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$212M	$214M	XXX	XXX	XXX	XXX	$-0.06

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Ramco Systems Valuation Multiples

Ramco Systems's trades at 3.3x EV/Revenue multiple, and 176.5x EV/EBITDA.

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Ramco Systems Financial Valuation Multiples

As of October 7, 2025, Ramco Systems has market cap of $214M and EV of $212M.

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

Ramco Systems has a P/E ratio of -98.1x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$214M	XXX	$214M	XXX	XXX	XXX
EV (current)	$212M	XXX	$212M	XXX	XXX	XXX
EV/Revenue	3.0x	XXX	3.3x	XXX	XXX	XXX
EV/EBITDA	22.2x	XXX	176.5x	XXX	XXX	XXX
EV/EBIT	-141.5x	XXX	-68.2x	XXX	XXX	XXX
EV/Gross Profit	6.1x	XXX	n/a	XXX	XXX	XXX
P/E	-98.1x	XXX	-22.0x	XXX	XXX	XXX
EV/FCF	-314.3x	XXX	66.8x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Ramco Systems Margins & Growth Rates

Ramco Systems's last 12 month revenue growth is 10%

Ramco Systems's revenue per employee in the last FY averaged $40K, while opex per employee averaged $22K for the same period.

Ramco Systems's rule of 40 is 12% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Ramco Systems's rule of X is 39% (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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Ramco Systems Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	10%	XXX	10%	XXX	XXX	XXX
EBITDA Margin	14%	XXX	2%	XXX	XXX	XXX
EBITDA Growth	21%	XXX	216%	XXX	XXX	XXX
Rule of 40	12%	XXX	12%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	39%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$40K	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$22K	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	5%	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	55%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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