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Ramco Valuation Multiples

Discover revenue and EBITDA valuation multiples for Ramco and similar public comparables like ATOSS Software, Xref, and ReadyTech.

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 DecisionWorks for analytics/reporting. The product portfolio of the company includes aviation, aerospace & defense management software, enterprise resource planning software, payroll & logistics software on the cloud. The majority of its revenue is earned from the sale of licenses and services.


Founded

1997

HQ

India
Employees

1.6K+

Website

ramco.com

Financials

LTM Revenue $67.7M

LTM EBITDA $6.0M

EV

$157M

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Ramco Financials

Ramco has a last 12-month revenue of $67.7M and a last 12-month EBITDA of $6.0M.

In the most recent fiscal year, Ramco achieved revenue of $61.1M and an EBITDA of -$17.8M.

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

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Ramco P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $57.2M $61.1M XXX XXX XXX
Gross Profit $29.2M $22.1M XXX XXX XXX
Gross Margin 51% 36% XXX XXX XXX
EBITDA -$15.2M -$17.8M XXX XXX XXX
EBITDA Margin -27% -29% XXX XXX XXX
Net Profit -$8.5M -$24.0M XXX XXX XXX
Net Margin -15% -39% XXX XXX XXX
Net Debt n/a $2.6M XXX XXX XXX

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Ramco Stock Performance

As of April 15, 2025, Ramco's stock price is INR 371 (or $4).

Ramco has current market cap of INR 13.8B (or $161M), and EV of INR 13.5B (or $157M).

See Ramco trading valuation data

Ramco Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$157M $161M XXX XXX XXX XXX $-0.15

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Ramco Valuation Multiples

As of April 15, 2025, Ramco has market cap of $161M and EV of $157M.

Ramco's trades at 2.3x LTM EV/Revenue multiple, and 26.2x LTM EBITDA.

Analysts estimate Ramco's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Ramco Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $157M XXX XXX XXX
EV/Revenue 2.4x XXX XXX XXX
EV/EBITDA -2553.0x XXX XXX XXX
P/E -14.1x XXX XXX XXX
P/E/Growth n/a XXX XXX XXX
EV/FCF -18.9x XXX XXX XXX

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Ramco Valuation Multiples

Ramco's NTM/LTM revenue growth is 12%

Ramco's revenue per employee for the last fiscal year averaged $38K, while opex per employee averaged $25K for the same period.

Over next 12 months, Ramco's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate Ramco's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Ramco Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth 7% XXX XXX XXX XXX
EBITDA Margin 0% XXX XXX XXX XXX
EBITDA Growth 17% XXX XXX XXX XXX
Rule of 40 (SaaS-only) 12% XXX XXX XXX XXX
Revenue per Employee $38K XXX XXX XXX XXX
Opex per Employee $25K XXX XXX XXX XXX
S&M Expenses to Revenue 5% XXX XXX XXX XXX
G&A Expenses to Revenue 5% XXX XXX XXX XXX
R&D Expenses to Revenue n/a XXX XXX XXX XXX
Opex to Revenue 66% XXX 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
Zaggle XXX XXX XXX XXX XXX XXX
TOTVS XXX XXX XXX XXX XXX XXX
ATOSS Software 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 1.6K+ 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, Zaggle, TOTVS.
What is the current market cap of Ramco? Ramco's current market cap is $161M
What is the current revenue of Ramco? Ramco's last 12-month revenue is $67.7M.
What is the current EBITDA of Ramco? Ramco's last 12-month EBITDA is $6.0M.
What is the current EV/Revenue multiple of Ramco? Current revenue multiple of Ramco is 2.3x.
What is the current EV/EBITDA multiple of Ramco? Current EBITDA multiple of Ramco is 26.2x.
What is the current revenue growth of Ramco? Ramco revenue growth between 2023 and 2024 was 7%.
Is Ramco profitable? Yes, Ramco is EBITDA-positive (as of the last 12 months).

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