Simulations Plus - Public Comps and Valuation Multiples

Simulations Plus Overview

About Simulations Plus

Simulations Plus Inc is engaged in the software industry. It includes two segments. It develops and produces software for use in pharmaceutical research and education, and provides consulting and contract research services to the pharmaceutical industry. The company's operating segments include Software and services. The company offers software products for pharmaceutical research such as ADMET (Absorption, Distribution, Metabolism, Excretion, and Toxicity). It generates maximum revenue from the software segment. Maximum revenue is earned from USA following EMEA and Asia Pacific.

Founded

1996

HQ

Employees

247

Website

simulations-plus.com

Sectors

Healthcare Software
Drug Development & Therapeutics
B2B SaaS
Vertical SaaS
HealthTech
BioTech

Financials

LTM Revenue $78.4M

LTM EBITDA $20.4M

EV

$282M

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Simulations Plus Financials

As of September 2025, Simulations Plus reported last 12-month revenue of $78.4M and EBITDA of $20.4M.

In the same period, Simulations Plus generated $46.5M in LTM gross profit and -$55.4M in net income.

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Simulations Plus P&L

In the most recent fiscal year, Simulations Plus reported revenue of $70.0M and EBITDA of $11.8M.

Simulations Plus expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$78.4M	XXX	$70.0M	XXX	XXX	XXX
Gross Profit	$46.5M	XXX	$43.2M	XXX	XXX	XXX
Gross Margin	59%	XXX	62%	XXX	XXX	XXX
EBITDA	$20.4M	XXX	$11.8M	XXX	XXX	XXX
EBITDA Margin	26%	XXX	17%	XXX	XXX	XXX
EBIT	-$62.5M	XXX	$6.1M	XXX	XXX	XXX
EBIT Margin	-80%	XXX	9%	XXX	XXX	XXX
Net Profit	-$55.4M	XXX	$10.0M	XXX	XXX	XXX
Net Margin	-71%	XXX	14%	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 Simulations Plus including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $78.4M. EBITDA for the last twelve months was $20.4M. In the most recent fiscal year, Simulations Plus achieved $70.0M in revenue and $11.8M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$78.4M	Analyst estimates available to subscribers	$70.0M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$46.5M	Analyst estimates available to subscribers	$43.2M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	59.3% gross margin	Analyst estimates available to subscribers	61.6% 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)	$20.4M	Analyst estimates available to subscribers	$11.8M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	26.1% EBITDA margin	Analyst estimates available to subscribers	16.8% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	-$62.5M	Analyst estimates available to subscribers	$6.1M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	-79.7% EBIT margin	Analyst estimates available to subscribers	8.8% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	-$55.4M	Analyst estimates available to subscribers	$10.0M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	-70.7% net profit margin	Analyst estimates available to subscribers	14.2% 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 Simulations Plus

This financial data table provides comprehensive performance metrics for Simulations Plus, a company based in United States of America. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Simulations Plus generated $78.4M in revenue over the last twelve months.
The company achieved $20.4M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $46.5M.
Net income over the last twelve months reached -$55.4M.

Fiscal Year Performance

In the most recent fiscal year, Simulations Plus reported $70.0M in total revenue.
Fiscal year EBITDA was $11.8M.
The company maintained a gross profit margin of 61.6% in the most recent fiscal year.
EBITDA margin for the fiscal year was 16.8%.
Net profit margin reached 14.2% in the most recent fiscal year.

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

Simulations Plus Stock Performance

Simulations Plus has current market cap of $310M, and EV of $282M.

Market Cap Evolution

Simulations Plus Stock Data

As of October 17, 2025, Simulations Plus's stock price is $15.

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$282M	$310M	XXX	XXX	XXX	XXX	$0.97

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Simulations Plus Valuation Multiples

Simulations Plus's trades at 3.9x EV/Revenue multiple, and 19.4x EV/EBITDA.

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Simulations Plus Financial Valuation Multiples

As of October 17, 2025, Simulations Plus has market cap of $310M and EV of $282M.

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

Simulations Plus has a P/E ratio of -5.6x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$310M	XXX	$310M	XXX	XXX	XXX
EV (current)	$282M	XXX	$282M	XXX	XXX	XXX
EV/Revenue	3.6x	XXX	3.9x	XXX	XXX	XXX
EV/EBITDA	13.8x	XXX	19.4x	XXX	XXX	XXX
EV/EBIT	-4.5x	XXX	-13.9x	XXX	XXX	XXX
EV/Gross Profit	6.1x	XXX	n/a	XXX	XXX	XXX
P/E	-5.6x	XXX	-20.5x	XXX	XXX	XXX
EV/FCF	n/a	XXX	19.2x	XXX	XXX	XXX

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

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Simulations Plus Margins & Growth Rates

Simulations Plus's last 12 month revenue growth is 3%

Simulations Plus's revenue per employee in the last FY averaged $0.3M, while opex per employee averaged $0.1M for the same period.

Simulations Plus's rule of 40 is 26% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Simulations Plus's rule of X is 35% (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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Simulations Plus Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	3%	XXX	6%	XXX	XXX	XXX
EBITDA Margin	26%	XXX	20%	XXX	XXX	XXX
EBITDA Growth	15%	XXX	21%	XXX	XXX	XXX
Rule of 40	26%	XXX	23%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	35%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.3M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.1M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	13%	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	8%	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	53%	XXX	XXX	XXX

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

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