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Ramco Valuation Multiples

Discover revenue and EBITDA valuation multiples for Ramco and similar public comparables like Xref, TOTVS, and Humanica.

Ramco Overview

About Ramco

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

India
Employees

1.7K+

Website

ramco.com

Financials

LTM Revenue $70.1M

LTM EBITDA $9.4M

EV

$171M

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Ramco Financials

Ramco has a last 12-month revenue (LTM) of $70.1M and a last 12-month EBITDA of $9.4M.

In the most recent fiscal year, Ramco achieved revenue of $67.6M and an EBITDA of $7.5M.

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

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Ramco P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $70.1M XXX $67.6M XXX XXX XXX
Gross Profit $34.8M XXX $36.6M XXX XXX XXX
Gross Margin 50% XXX 54% XXX XXX XXX
EBITDA $9.4M XXX $7.5M XXX XXX XXX
EBITDA Margin 13% XXX 11% XXX XXX XXX
EBIT -$2.0M XXX -$0.6M XXX XXX XXX
EBIT Margin -3% XXX -1% XXX XXX XXX
Net Profit -$2.7M XXX -$3.9M XXX XXX XXX
Net Margin -4% XXX -6% XXX XXX XXX
Net Debt XXX XXX n/a XXX XXX XXX

Financial data powered by Morningstar, Inc.

Ramco Stock Performance

As of August 15, 2025, Ramco's stock price is INR 405 (or $5).

Ramco has current market cap of INR 15.1B (or $173M), and EV of INR 15.0B (or $171M).

See Ramco trading valuation data

Ramco Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$171M $173M XXX XXX XXX XXX $-0.07

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Ramco Valuation Multiples

As of August 15, 2025, Ramco has market cap of $173M and EV of $171M.

Ramco's trades at 2.6x EV/Revenue multiple, and 140.3x EV/EBITDA.

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

Ramco has a P/E ratio of -64.5x.

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Ramco Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $173M XXX $173M XXX XXX XXX
EV (current) $171M XXX $171M XXX XXX XXX
EV/Revenue 2.4x XXX 2.6x XXX XXX XXX
EV/EBITDA 18.2x XXX 140.3x XXX XXX XXX
EV/EBIT -87.6x XXX -54.2x XXX XXX XXX
EV/Gross Profit 4.9x XXX n/a XXX XXX XXX
P/E -64.5x XXX -17.6x XXX XXX XXX
EV/FCF -575.9x XXX 53.1x XXX XXX XXX

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Ramco Margins & Growth Rates

Ramco's last 12 month revenue growth is 10%

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

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

Ramco'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 Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 10% XXX 10% XXX XXX XXX
EBITDA Margin 13% 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

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Ramco Public Comps

See public comps and valuation multiples for Human Capital Management Software and ERP Software comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
ReadyTech XXX XXX XXX XXX XXX XXX
Xref XXX XXX XXX XXX XXX XXX
Humanica XXX XXX XXX XXX XXX XXX
Zaggle XXX XXX XXX XXX XXX XXX
TOTVS XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Ramco M&A and Investment Activity

Ramco acquired  XXX companies to date.

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

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Latest Acquisitions by Ramco

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 Ramco

When was Ramco founded? Ramco was founded in 1997.
Where is Ramco headquartered? Ramco is headquartered in India.
How many employees does Ramco have? As of today, Ramco has 1.7K+ employees.
Is Ramco publicy listed? Yes, Ramco is a public company listed on BOM.
What is the stock symbol of Ramco? Ramco trades under 532370 ticker.
When did Ramco go public? Ramco went public in 2000.
Who are competitors of Ramco? Similar companies to Ramco include e.g. ReadyTech, Xref, Humanica, Zaggle.
What is the current market cap of Ramco? Ramco's current market cap is $173M
What is the current revenue of Ramco? Ramco's last 12 months revenue is $70.1M.
What is the current revenue growth of Ramco? Ramco revenue growth (NTM/LTM) is 10%.
What is the current EV/Revenue multiple of Ramco? Current revenue multiple of Ramco is 2.4x.
Is Ramco profitable? Yes, Ramco is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of Ramco? Ramco's last 12 months EBITDA is $9.4M.
What is Ramco's EBITDA margin? Ramco's last 12 months EBITDA margin is 13%.
What is the current EV/EBITDA multiple of Ramco? Current EBITDA multiple of Ramco is 18.2x.
What is the current FCF of Ramco? Ramco's last 12 months FCF is -$0.3M.
What is Ramco's FCF margin? Ramco's last 12 months FCF margin is 0%.
What is the current EV/FCF multiple of Ramco? Current FCF multiple of Ramco is -575.9x.

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