Shelly Group - Public Comps and Valuation Multiples

Shelly Group Overview

About Shelly Group

Shelly Group SE is engaged in the acquisition, management, evaluation, and sale of participations in Bulgarian & foreign companies; acquisition, management, and sale of bonds; acquisition, evaluation, sale, and patents. It delivers innovation through designing, producing, and distributing high-quality IoT products. It group manages the business with electronic devices as one operating segment. Its products include Smartwatches, Tracker, and Home automation. It derives the majority of its revenue from the sale of smart devices.

Founded

2010

HQ

Employees

277

Website

corporate.shelly.com

Sectors

Financials

LTM Revenue $173M

LTM EBITDA $44.7M

EV

$683M

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Shelly Group Financials

As of December 2025, Shelly Group reported last 12-month revenue of $173M and EBITDA of $44.7M.

In the same period, Shelly Group generated $101M in LTM gross profit and $34.4M in net income.

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Shelly Group P&L

In the most recent fiscal year, Shelly Group reported revenue of $242M and EBITDA of $60.0M.

Shelly Group expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2026	FY 2027	FY 2028
Revenue	$173M	XXX	$242M	XXX	XXX	XXX
Gross Profit	$101M	XXX	$144M	XXX	XXX	XXX
Gross Margin	59%	XXX	59%	XXX	XXX	XXX
EBITDA	$44.7M	XXX	$60.0M	XXX	XXX	XXX
EBITDA Margin	26%	XXX	25%	XXX	XXX	XXX
EBIT	$42.9M	XXX	$57.1M	XXX	XXX	XXX
EBIT Margin	25%	XXX	24%	XXX	XXX	XXX
Net Profit	$34.4M	XXX	$52.1M	XXX	XXX	XXX
Net Margin	20%	XXX	22%	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 Shelly Group including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $173M. EBITDA for the last twelve months was $44.7M. In the most recent fiscal year, Shelly Group achieved $242M in revenue and $60.0M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2026)	Next Fiscal Year (2027)	Two Years Forward (2028)
Total Revenue	$173M	Analyst estimates available to subscribers	$242M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$101M	Analyst estimates available to subscribers	$144M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	58.7% gross margin	Analyst estimates available to subscribers	59.3% 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)	$44.7M	Analyst estimates available to subscribers	$60.0M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	25.9% EBITDA margin	Analyst estimates available to subscribers	24.8% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$42.9M	Analyst estimates available to subscribers	$57.1M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	24.8% EBIT margin	Analyst estimates available to subscribers	23.6% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$34.4M	Analyst estimates available to subscribers	$52.1M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	19.9% net profit margin	Analyst estimates available to subscribers	21.5% 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 Shelly Group

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

Recent Performance Highlights

Shelly Group generated $173M in revenue over the last twelve months.
The company achieved $44.7M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $101M.
Net income over the last twelve months reached $34.4M.

Fiscal Year Performance

In the most recent fiscal year, Shelly Group reported $242M in total revenue.
Fiscal year EBITDA was $60.0M.
The company maintained a gross profit margin of 59.3% in the most recent fiscal year.
EBITDA margin for the fiscal year was 24.8%.
Net profit margin reached 21.5% in the most recent fiscal year.

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

Shelly Group Stock Performance

Shelly Group has current market cap of EUR 597M (or $693M), and EV of EUR 589M (or $683M).

Market Cap Evolution

Shelly Group Stock Data

As of January 19, 2026, Shelly Group's stock price is EUR 33 (or $38).

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$683M	$693M	XXX	XXX	XXX	XXX	$1.90

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Shelly Group Valuation Multiples

Shelly Group's trades at 4.0x EV/Revenue multiple, and 15.3x EV/EBITDA.

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Shelly Group Financial Valuation Multiples

As of January 19, 2026, Shelly Group has market cap of $693M and EV of $683M.

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

Shelly Group has a P/E ratio of 20.2x.

	LTM	NTM	Last FY	FY 2026	FY 2027	FY 2028
Market cap (current)	$693M	XXX	$693M	XXX	XXX	XXX
EV (current)	$683M	XXX	$683M	XXX	XXX	XXX
EV/Revenue	4.0x	XXX	4.0x	XXX	XXX	XXX
EV/EBITDA	15.3x	XXX	15.3x	XXX	XXX	XXX
EV/EBIT	15.9x	XXX	15.9x	XXX	XXX	XXX
EV/Gross Profit	6.7x	XXX	n/a	XXX	XXX	XXX
P/E	20.2x	XXX	20.2x	XXX	XXX	XXX
EV/FCF	89.6x	XXX	89.6x	XXX	XXX	XXX

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

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Shelly Group Margins & Growth Rates

Shelly Group's last 12 month revenue growth is 39%

Shelly Group's revenue per employee in the last FY averaged $0.9M, while opex per employee averaged $0.3M for the same period.

Shelly Group's rule of 40 is 65% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Shelly Group's rule of X is 124% (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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Shelly Group Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2026	FY 2027	FY 2028
Revenue Growth	39%	XXX	36%	XXX	XXX	XXX
EBITDA Margin	26%	XXX	26%	XXX	XXX	XXX
EBITDA Growth	42%	XXX	0%	XXX	XXX	XXX
Rule of 40	65%	XXX	65%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	124%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.9M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.3M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	19%	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	36%	XXX	XXX	XXX

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

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