SmartRent - Public Comps and Valuation Multiples

SmartRent Overview

About SmartRent

SmartRent Inc is an enterprise smart home and smart building technology platform for property owners, managers and residents. The SmartRent solution is designed to provide property managers with seamless visibility and control over all their assets while delivering cost savings and additional revenue opportunities through all-in-one home control offerings for residents. Geographical, it operates in the United States and International; majority revenue being generated from the United States.

Founded

2020

HQ

Employees

494

Website

smartrent.com

Sectors

Real Estate Software
Automation & Control Systems
PropTech
B2B SaaS
Vertical SaaS

Financials

LTM Revenue $154M

LTM EBITDA -$16.2M

EV

$250M

Valuation Multiples

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SmartRent Financials

As of November 2025, SmartRent reported last 12-month revenue of $154M and EBITDA of -$16.2M.

In the same period, SmartRent generated $51.2M in LTM gross profit and -$58.6M in net income.

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SmartRent P&L

In the most recent fiscal year, SmartRent reported revenue of $175M and EBITDA of -$35.3M.

SmartRent 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	$154M	XXX	$175M	XXX	XXX	XXX
Gross Profit	$51.2M	XXX	$60.3M	XXX	XXX	XXX
Gross Margin	33%	XXX	35%	XXX	XXX	XXX
EBITDA	-$16.2M	XXX	-$35.3M	XXX	XXX	XXX
EBITDA Margin	-11%	XXX	-20%	XXX	XXX	XXX
EBIT	-$62.7M	XXX	-$41.8M	XXX	XXX	XXX
EBIT Margin	-41%	XXX	-24%	XXX	XXX	XXX
Net Profit	-$58.6M	XXX	-$33.6M	XXX	XXX	XXX
Net Margin	-38%	XXX	-19%	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 SmartRent including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $154M. EBITDA for the last twelve months was -$16.2M. In the most recent fiscal year, SmartRent achieved $175M in revenue and -$35.3M 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	$154M	Analyst estimates available to subscribers	$175M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$51.2M	Analyst estimates available to subscribers	$60.3M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	33.3% gross margin	Analyst estimates available to subscribers	34.5% 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)	-$16.2M	Analyst estimates available to subscribers	-$35.3M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	-10.6% EBITDA margin	Analyst estimates available to subscribers	-20.2% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	-$62.7M	Analyst estimates available to subscribers	-$41.8M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	-40.8% EBIT margin	Analyst estimates available to subscribers	-23.9% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	-$58.6M	Analyst estimates available to subscribers	-$33.6M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	-38.1% net profit margin	Analyst estimates available to subscribers	-19.2% 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 SmartRent

This financial data table provides comprehensive performance metrics for SmartRent, 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

SmartRent generated $154M in revenue over the last twelve months.
The company achieved -$16.2M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $51.2M.
Net income over the last twelve months reached -$58.6M.

Fiscal Year Performance

In the most recent fiscal year, SmartRent reported $175M in total revenue.
Fiscal year EBITDA was -$35.3M.
The company maintained a gross profit margin of 34.5% in the most recent fiscal year.
EBITDA margin for the fiscal year was -20.2%.
Net profit margin reached -19.2% in the most recent fiscal year.

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

SmartRent Stock Performance

SmartRent has current market cap of $344M, and EV of $250M.

Market Cap Evolution

SmartRent Stock Data

As of December 5, 2025, SmartRent's stock price is $2.

See SmartRent trading valuation data

EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$250M	$344M	XXX	XXX	XXX	XXX	$-0.31

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SmartRent Valuation Multiples

SmartRent's trades at 1.4x EV/Revenue multiple, and -7.1x EV/EBITDA.

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SmartRent Financial Valuation Multiples

As of December 5, 2025, SmartRent has market cap of $344M and EV of $250M.

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

SmartRent has a P/E ratio of -5.9x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$344M	XXX	$344M	XXX	XXX	XXX
EV (current)	$250M	XXX	$250M	XXX	XXX	XXX
EV/Revenue	1.6x	XXX	1.4x	XXX	XXX	XXX
EV/EBITDA	-15.4x	XXX	-7.1x	XXX	XXX	XXX
EV/EBIT	-4.0x	XXX	-6.0x	XXX	XXX	XXX
EV/Gross Profit	4.9x	XXX	n/a	XXX	XXX	XXX
P/E	-5.9x	XXX	-10.2x	XXX	XXX	XXX
EV/FCF	-6.7x	XXX	-6.2x	XXX	XXX	XXX

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

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SmartRent Margins & Growth Rates

SmartRent's last 12 month revenue growth is 3%

SmartRent's revenue per employee in the last FY averaged $0.4M, while opex per employee averaged $0.2M for the same period.

SmartRent's rule of 40 is -13% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

SmartRent's rule of X is -4% (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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SmartRent Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	3%	XXX	-5%	XXX	XXX	XXX
EBITDA Margin	-11%	XXX	-20%	XXX	XXX	XXX
EBITDA Growth	-120%	XXX	n/a	XXX	XXX	XXX
Rule of 40	-13%	XXX	-17%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	-4%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.4M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.2M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	11%	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	17%	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	58%	XXX	XXX	XXX

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

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