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Ricardo Valuation Multiples

Discover revenue and EBITDA valuation multiples for Ricardo and similar public comparables like Business Online, Bluebik Group, and RPMGlobal.

Ricardo Overview

About Ricardo

Ricardo PLC is a provider of business solutions in the United Kingdom. The company's operating segments include Energy & Environment, Rail, Automotive and Industrial, Defense, and Performance Products. Its Automotive and Industrial segment generates majority of the revenue for the company. The company operates in the UK, Mainland Europe, North America, China, Australia, the Rest of Asia, and the Rest of the World.


Founded

1927

HQ

United Kingdom of Great Britain and Northern Ireland
Employees

2.9K+

Website

ricardo.com

Financials

LTM Revenue $507M

LTM EBITDA $49.2M

EV

$231M

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Ricardo Financials

Ricardo has a last 12-month revenue of $507M and a last 12-month EBITDA of $49.2M.

In the most recent fiscal year, Ricardo achieved revenue of $611M and an EBITDA of $42.8M.

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

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Ricardo P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $573M $611M XXX XXX XXX
Gross Profit $167M $163M XXX XXX XXX
Gross Margin 29% 27% XXX XXX XXX
EBITDA $47.0M $42.8M XXX XXX XXX
EBITDA Margin 8% 7% XXX XXX XXX
Net Profit $11.1M -$6.7M XXX XXX XXX
Net Margin 2% -1% XXX XXX XXX
Net Debt $46.6M $79.8M XXX XXX XXX

Financial data powered by Morningstar, Inc.

Ricardo Stock Performance

As of April 15, 2025, Ricardo's stock price is GBP 2 (or $3).

Ricardo has current market cap of GBP 141M (or $181M), and EV of GBP 179M (or $231M).

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Ricardo Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$231M $181M XXX XXX XXX XXX $0.25

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Ricardo Valuation Multiples

As of April 15, 2025, Ricardo has market cap of $181M and EV of $231M.

Ricardo's trades at 0.5x LTM EV/Revenue multiple, and 4.7x LTM EBITDA.

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

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Ricardo Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $231M XXX XXX XXX
EV/Revenue 0.4x XXX XXX XXX
EV/EBITDA 5.3x XXX XXX XXX
P/E 73.7x XXX XXX XXX
P/E/Growth 0.6x XXX XXX XXX
EV/FCF 63.6x XXX XXX XXX

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Ricardo Valuation Multiples

Ricardo's NTM/LTM revenue growth is 4%

Ricardo's revenue per employee for the last fiscal year averaged $0.2M, while opex per employee averaged $44K for the same period.

Over next 12 months, Ricardo'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 Ricardo's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Ricardo Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth 7% XXX XXX XXX XXX
EBITDA Margin 8% XXX XXX XXX XXX
EBITDA Growth -9% XXX XXX XXX XXX
Rule of 40 (SaaS-only) 12% XXX XXX XXX XXX
Revenue per Employee $0.2M XXX XXX XXX XXX
Opex per Employee $44K XXX XXX XXX XXX
S&M Expenses to Revenue n/a XXX XXX XXX XXX
G&A Expenses to Revenue 20% XXX XXX XXX XXX
R&D Expenses to Revenue n/a XXX XXX XXX XXX
Opex to Revenue 21% XXX XXX XXX XXX

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Ricardo Public Comps

See public comps and valuation multiples for Business Consulting comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Almunda Professionals XXX XXX XXX XXX XXX XXX
Appen XXX XXX XXX XXX XXX XXX
RPMGlobal XXX XXX XXX XXX XXX XXX
Bluebik Group XXX XXX XXX XXX XXX XXX
Business Online XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

Valuation data powered by FactSet, Inc.

Ricardo M&A and Investment Activity

Ricardo acquired  XXX companies to date.

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

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Latest Acquisitions by Ricardo

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 Ricardo

When was Ricardo founded? Ricardo was founded in 1927.
Where is Ricardo headquartered? Ricardo is headquartered in United Kingdom of Great Britain and Northern Ireland.
How many employees does Ricardo have? As of today, Ricardo has 2.9K+ employees.
Who is the CEO of Ricardo? Ricardo's CEO is Mr. Graham Ritchie.
Is Ricardo publicy listed? Yes, Ricardo is a public company listed on LON.
What is the stock symbol of Ricardo? Ricardo trades under RCDO ticker.
When did Ricardo go public? Ricardo went public in 1962.
Who are competitors of Ricardo? Similar companies to Ricardo include e.g. Almunda Professionals, Appen, RPMGlobal, Bluebik Group.
What is the current market cap of Ricardo? Ricardo's current market cap is $181M
What is the current revenue of Ricardo? Ricardo's last 12-month revenue is $507M.
What is the current EBITDA of Ricardo? Ricardo's last 12-month EBITDA is $49.2M.
What is the current EV/Revenue multiple of Ricardo? Current revenue multiple of Ricardo is 0.5x.
What is the current EV/EBITDA multiple of Ricardo? Current EBITDA multiple of Ricardo is 4.7x.
What is the current revenue growth of Ricardo? Ricardo revenue growth between 2023 and 2024 was 7%.
Is Ricardo profitable? Yes, Ricardo is EBITDA-positive (as of the last 12 months).

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