SmarTone - Public Comps and Valuation Multiples

SmarTone Overview

About SmarTone

SmarTone Telecommunications Holdings Ltd provides mobile and broadband services for household and corporate customers. The majority of overall company revenue comes from selling handsets and associated accessories. The group's customers are post-paid. It operates in one reportable segment, which is mobile telecommunications business.

Founded

1996

HQ

Employees

1.7K+

Website

smartoneholdings.com

Sectors

Telecom Service Providers
Internet Service Providers

Financials

LTM Revenue $804M

Last FY EBITDA $317M

EV

$516M

Valuation Multiples

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SmarTone Financials

As of September 2025, SmarTone reported last 12-month revenue of $804M.

In the same period, SmarTone achieved $61.6M in LTM net income.

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SmarTone P&L

In the most recent fiscal year, SmarTone reported revenue of $804M and EBITDA of $317M.

SmarTone 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	$804M	XXX	$804M	XXX	XXX	XXX
Gross Profit	n/a	XXX	$521M	XXX	XXX	XXX
Gross Margin	n/a	XXX	65%	XXX	XXX	XXX
EBITDA	n/a	XXX	$317M	XXX	XXX	XXX
EBITDA Margin	n/a	XXX	39%	XXX	XXX	XXX
EBIT	n/a	XXX	$90.6M	XXX	XXX	XXX
EBIT Margin	n/a	XXX	11%	XXX	XXX	XXX
Net Profit	$61.6M	XXX	$61.6M	XXX	XXX	XXX
Net Margin	8%	XXX	8%	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 SmarTone including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $804M. In the most recent fiscal year, SmarTone achieved $804M in revenue and $317M 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	$804M	Analyst estimates available to subscribers	$804M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	n/a	Analyst estimates available to subscribers	$521M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	n/a	Analyst estimates available to subscribers	64.9% 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)	n/a	Analyst estimates available to subscribers	$317M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	n/a	Analyst estimates available to subscribers	39.4% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	n/a	Analyst estimates available to subscribers	$90.6M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	n/a	Analyst estimates available to subscribers	11.3% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$61.6M	Analyst estimates available to subscribers	$61.6M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	7.7% net profit margin	Analyst estimates available to subscribers	7.7% 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 SmarTone

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

Recent Performance Highlights

SmarTone generated $804M in revenue over the last twelve months.
Net income over the last twelve months reached $61.6M.

Fiscal Year Performance

In the most recent fiscal year, SmarTone reported $804M in total revenue.
Fiscal year EBITDA was $317M.
The company maintained a gross profit margin of 64.9% in the most recent fiscal year.
EBITDA margin for the fiscal year was 39.4%.
Net profit margin reached 7.7% in the most recent fiscal year.

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

SmarTone Stock Performance

SmarTone has current market cap of HKD 5.2B (or $664M), and EV of HKD 4.0B (or $516M).

Market Cap Evolution

SmarTone Stock Data

As of October 17, 2025, SmarTone's stock price is HKD 5 (or $1).

See SmarTone trading valuation data

EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$516M	$664M	XXX	XXX	XXX	XXX	$0.06

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SmarTone Valuation Multiples

SmarTone's trades at 0.6x EV/Revenue multiple, and 1.6x EV/EBITDA.

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SmarTone Financial Valuation Multiples

As of October 17, 2025, SmarTone has market cap of $664M and EV of $516M.

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

SmarTone has a P/E ratio of 10.8x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$664M	XXX	$664M	XXX	XXX	XXX
EV (current)	$516M	XXX	$516M	XXX	XXX	XXX
EV/Revenue	0.6x	XXX	0.6x	XXX	XXX	XXX
EV/EBITDA	n/a	XXX	1.6x	XXX	XXX	XXX
EV/EBIT	n/a	XXX	5.7x	XXX	XXX	XXX
EV/Gross Profit	n/a	XXX	n/a	XXX	XXX	XXX
P/E	10.8x	XXX	10.9x	XXX	XXX	XXX
EV/FCF	n/a	XXX	3.1x	XXX	XXX	XXX

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

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SmarTone Margins & Growth Rates

SmarTone's revenue per employee in the last FY averaged $0.5M, while opex per employee averaged $0.3M for the same period.

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

SmarTone's rule of X is unknown (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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SmarTone Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	n/a	XXX	n/a	XXX	XXX	XXX
EBITDA Margin	n/a	XXX	40%	XXX	XXX	XXX
EBITDA Growth	n/a	XXX	n/a	XXX	XXX	XXX
Rule of 40	n/a	XXX	n/a	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	n/a	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.5M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.3M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	n/a	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	54%	XXX	XXX	XXX

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

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