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Shift Up Valuation Multiples

Discover revenue and EBITDA valuation multiples for Shift Up and similar public comparables like Boyaa Interactive, PlaySide Studios, and Azerion Group.

Shift Up Overview

About Shift Up

Shift Up Corp is a game design and development studio that covers a wide range of areas from game production to promotional videos and music production, based on illustrations and solid planning and programming capabilities.


Founded

HQ

South Korea
Employees

n/a

Website

shiftup.co.kr

Financials

LTM Revenue $168M

LTM EBITDA $121M

EV

$1.6B

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Shift Up Financials

Shift Up has a last 12-month revenue of $168M and a last 12-month EBITDA of $121M.

In the most recent fiscal year, Shift Up achieved revenue of $153M and an EBITDA of $126M.

Shift Up expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Shift Up P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $115M $153M XXX XXX XXX
Gross Profit $45.0M $115M XXX XXX XXX
Gross Margin 39% 75% XXX XXX XXX
EBITDA $80.3M $126M XXX XXX XXX
EBITDA Margin 70% 82% XXX XXX XXX
Net Profit -$4.9M $72.7M XXX XXX XXX
Net Margin -4% 48% XXX XXX XXX
Net Debt n/a n/a XXX XXX XXX

Financial data powered by Morningstar, Inc.

Shift Up Stock Performance

As of April 15, 2025, Shift Up's stock price is KRW 49800 (or $34).

Shift Up has current market cap of KRW 2.91T (or $2.0B), and EV of KRW 2.28T (or $1.6B).

See Shift Up trading valuation data

Shift Up Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$1.6B $2.0B XXX XXX XXX XXX $1.98

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Shift Up Valuation Multiples

As of April 15, 2025, Shift Up has market cap of $2.0B and EV of $1.6B.

Shift Up's trades at 9.2x LTM EV/Revenue multiple, and 12.8x LTM EBITDA.

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

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Shift Up Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $1.6B XXX XXX XXX
EV/Revenue 10.2x XXX XXX XXX
EV/EBITDA 12.3x XXX XXX XXX
P/E 19.7x XXX XXX XXX
P/E/Growth 1.8x XXX XXX XXX
EV/FCF 21.1x XXX XXX XXX

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Shift Up Valuation Multiples

Shift Up's NTM/LTM revenue growth is 24%

Shift Up's revenue per employee for the last fiscal year averaged n/a, while opex per employee averaged n/a for the same period.

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

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Shift Up Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth 33% XXX XXX XXX XXX
EBITDA Margin 82% XXX XXX XXX XXX
EBITDA Growth 56% XXX XXX XXX XXX
Rule of 40 (SaaS-only) 107% XXX XXX XXX XXX
Revenue per Employee n/a XXX XXX XXX XXX
Opex per Employee n/a XXX XXX XXX XXX
S&M Expenses to Revenue 3% XXX XXX XXX XXX
G&A Expenses to Revenue 1% XXX XXX XXX XXX
R&D Expenses to Revenue n/a XXX XXX XXX XXX
Opex to Revenue 32% XXX XXX XXX XXX

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Shift Up Public Comps

See public comps and valuation multiples for Gaming - Console & PC and Gaming - Mobile comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Azerion Group XXX XXX XXX XXX XXX XXX
PlaySide Studios XXX XXX XXX XXX XXX XXX
Trophy Games XXX XXX XXX XXX XXX XXX
Remedy Entertainment XXX XXX XXX XXX XXX XXX
Boyaa Interactive 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.

Shift Up M&A and Investment Activity

Shift Up acquired  XXX companies to date.

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

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Latest Acquisitions by Shift Up

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 Shift Up

Where is Shift Up headquartered? Shift Up is headquartered in South Korea.
Is Shift Up publicy listed? Yes, Shift Up is a public company listed on KRX.
What is the stock symbol of Shift Up? Shift Up trades under 462870 ticker.
When did Shift Up go public? Shift Up went public in 2024.
Who are competitors of Shift Up? Similar companies to Shift Up include e.g. Azerion Group, PlaySide Studios, Trophy Games, Remedy Entertainment.
What is the current market cap of Shift Up? Shift Up's current market cap is $2.0B
What is the current revenue of Shift Up? Shift Up's last 12-month revenue is $168M.
What is the current EBITDA of Shift Up? Shift Up's last 12-month EBITDA is $121M.
What is the current EV/Revenue multiple of Shift Up? Current revenue multiple of Shift Up is 9.2x.
What is the current EV/EBITDA multiple of Shift Up? Current EBITDA multiple of Shift Up is 12.8x.
What is the current revenue growth of Shift Up? Shift Up revenue growth between 2023 and 2024 was 33%.
Is Shift Up profitable? Yes, Shift Up is EBITDA-positive (as of the last 12 months).

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