Rubicon Water Valuation Multiples

Rubicon Water is valued at $61M as of October 2026, a 1.6x revenue multiple. In the last 12 months, Rubicon Water revenue was $46M and Rubicon Water EBITDA was ($4M).

Rubicon Water Overview

About Rubicon Water

Rubicon Water Ltd is engaged in the water technology solutions business that designs, manufactures, installs, and maintains irrigation automation software and hardware. It generates revenue through sales of hardware, software, and services, as well as from ongoing maintenance of the installed end-to-end solution base.


Founded

2021

HQ

Australia

Employees

300

Financials (LTM)

Revenue: $46M
EBITDA: ($4M)

EV

$73M

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Rubicon Water Financials

Rubicon Water reported last 12-month revenue of $46M and negative EBITDA of ($4M).

In the same LTM period, Rubicon Water generated ($4M) in EBITDA losses and had net loss of ($9M).

Revenue (LTM)


Rubicon Water P&L

In the most recent fiscal year, Rubicon Water reported revenue of $42M and EBITDA of ($6M).

Rubicon Water is unprofitable as of last fiscal year, with gross margin of 41%, EBITDA margin of (15%), and net margin of (25%).

See analyst estimates for Rubicon Water
LTMLast FY202320242025202620272028
Revenue$46M$42M$41M$46M$46M
Gross Profit-$17M$15M$19M$20M
Gross Margin-41%37%41%44%
EBITDA($4M)($6M)($6M)($4M)($5M)
EBITDA Margin(10%)(15%)(14%)(9%)(11%)
EBIT Margin(15%)(16%)(16%)(10%)(14%)
Net Profit($9M)($11M)($8M)($6M)($8M)
Net Margin(19%)(25%)(19%)(14%)(17%)
Net Debt-$12M---

Financial data powered by Morningstar, Inc.

Rubicon Water Stock Performance

Rubicon Water has current market cap of $61M, and enterprise value of $73M.

Market Cap Evolution


Rubicon Water's stock price is $0.25.

Rubicon Water share price increased by 15.1% in the last 30 days, and by 69.8% in the last year.

Rubicon Water has an EPS (earnings per share) of $-0.04.

See more trading valuation data for Rubicon Water
EVMarket CapPrice 1DPrice 1MPrice 3MPrice 12MEPS
$73M$61M0.1%15.1%445.6%69.8%$-0.04

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Rubicon Water Valuation Multiples

Rubicon Water trades at 1.6x EV/Revenue multiple, and (16.5x) EV/EBITDA.

See NTM and 2027E valuation multiples for Rubicon Water

EV / Revenue (LTM)


Rubicon Water Financial Valuation Multiples

As of October 6, 2026, Rubicon Water has market cap of $61M and EV of $73M.

Rubicon Water has a P/E ratio of (7.1x).

LTMLast FY202320242025202620272028
EV/Revenue1.6x1.7x1.8x1.6x1.6x
EV/EBITDA(16.5x)(11.6x)(13.1x)(17.8x)(15.0x)
EV/EBIT(10.6x)(10.9x)(11.2x)(15.8x)(11.5x)
EV/Gross Profit-4.2x4.8x3.9x3.6x
P/E(7.1x)(5.7x)(7.9x)(9.7x)(7.7x)
EV/FCFn/m67.2x(15.6x)(33.2x)44.9x

Multiples above and below 250x are considered non-meaningful (n/m). Valuation data powered by FactSet, Inc. and Morningstar, Inc.

Verified Rubicon Water Valuation Multiples

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Rubicon Water Margins & Growth Rates

Rubicon Water grew revenue by 20% but EBITDA decreased by 119% in the last fiscal year.

In the most recent fiscal year, Rubicon Water reported gross margin of 41%, EBITDA margin of (15%), and net margin of (25%).

See estimated margins and future growth rates for Rubicon Water

Rubicon Water Margins

Last FY202420252026202720282029
Gross Margin41%41%44%-
EBITDA Margin(15%)(9%)(11%)(5%)
EBIT Margin(16%)(10%)(14%)(9%)
Net Margin(25%)(14%)(17%)(14%)
FCF Margin3%(5%)4%(2%)

Rubicon Water Growth Rates

FY+1/FY23/2424/2525/2626/2727/2828/29
Revenue Growth20%12%1%1%
Gross Profit Growth-23%10%-
EBITDA Growth(119%)(27%)18%(47%)
EBIT Growth(81%)(29%)38%(38%)
Net Profit Growth(82%)(19%)27%(20%)
FCF Growth(356%)(53%)(174%)(152%)

Data powered by FactSet, Inc. and Morningstar, Inc.

Rubicon Water Operational KPIs

Rubicon Water's revenue per employee in the last FY averaged $0.1M, while opex per employee averaged $0.1M for the same period.

Rubicon Water's Rule of 40 is (5%) (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Rubicon Water's Rule of X is (3%) (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).

Access forward-looking KPIs for Rubicon Water
LTMLast FY202320242025202620272028
Rule of 407%(5%)---
Bessemer Rule of X33%(3%)---
Revenue per Employee-$0.1M---
Opex per Employee-$0.1M---
G&A Expenses to Revenue-10%9%10%9%
Opex to Revenue-57%53%51%52%

Data powered by FactSet, Inc. and Morningstar, Inc.

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Rubicon Water Competitors

Rubicon Water competitors include Midsummer, Enechange, Tigo Energy, Hazer Group, Razor Labs, Redwood AI, Columbus Energy, NH3 Clean Energy, Zefiro Methane and Technologies New Energy.

Most Rubicon Water public comparables operate across Clean Technology and Energy & Utilities Software.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Midsummer$16M($387K)4.0x-(169.1x)-
Enechange$42M($649K)1.0x1.0x(66.4x)10.5x
Tigo Energy$104M$10M0.5x0.5x5.6x28.4x
Hazer Group$14K($7M)3497.5x18.5x(6.4x)(6.8x)
Razor Labs$11M($4M)5.2x-(13.3x)-
Redwood AI-($378K)--(133.4x)-
Columbus Energy$75M($12M)1.0x-(5.8x)-
NH3 Clean Energy------

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About Rubicon Water

When was Rubicon Water founded?Rubicon Water was founded in 2021.
Where is Rubicon Water headquartered?Rubicon Water is headquartered in Australia.
How many employees does Rubicon Water have?As of today, Rubicon Water has over 300 employees.
Is Rubicon Water publicly listed?Yes, Rubicon Water is a public company listed on Australian Securities Exchange.
What is the stock symbol of Rubicon Water?Rubicon Water trades under RWL ticker.
When did Rubicon Water go public?Rubicon Water went public in 2021.
Who are competitors of Rubicon Water?Rubicon Water main competitors include Midsummer, Enechange, Tigo Energy, Hazer Group, Razor Labs, Redwood AI, Columbus Energy, NH3 Clean Energy, Zefiro Methane, Technologies New Energy.
What is the current market cap of Rubicon Water?Rubicon Water's current market cap is $61M.
What is the current revenue of Rubicon Water?Rubicon Water's last 12 months revenue is $46M.
What is the current revenue growth of Rubicon Water?Rubicon Water revenue growth (NTM/LTM) is 17%.
What is the current EV/Revenue multiple of Rubicon Water?Current revenue multiple of Rubicon Water is 1.6x.
Is Rubicon Water profitable?No, Rubicon Water is not profitable.
What is the current EBITDA of Rubicon Water?Rubicon Water has negative EBITDA and is not profitable.
What is Rubicon Water's EBITDA margin?Rubicon Water's last 12 months EBITDA margin is (10%).
What is the current EV/EBITDA multiple of Rubicon Water?Current EBITDA multiple of Rubicon Water is (16.5x).
What is the current FCF of Rubicon Water?Rubicon Water's last 12 months FCF is $89K.
What is Rubicon Water's FCF margin?Rubicon Water's last 12 months FCF margin is 0%.
What is the current EV/FCF multiple of Rubicon Water?Current FCF multiple of Rubicon Water is 821.8x.
How many companies Rubicon Water has acquired to date?Rubicon Water hasn't acquired any companies yet (or none have been disclosed publicly).
In how many companies Rubicon Water has invested to date?Rubicon Water hasn't invested in any companies yet (or none have been disclosed publicly).

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