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So-Young Valuation Multiples

Discover revenue and EBITDA valuation multiples for So-Young and similar public comparables like Reach, HomeToGo, Zhihu, Dida and more.

So-Young Overview

About So-Young

So-Young International Inc is an online destination for discovering, evaluating, and reserving medical aesthetic services in China. Its business model comprises four integrated components: professional content and its distribution through social media networks and its targeted media platforms in China, a social community characterized by signature user-generated content, Online reservation services for a medical aesthetic treatment, and the research, development, production, sales and agency of laser and other optoelectronic medical beauty equipment. It generates revenue from information services fees and reservation services fees from medical aesthetic service providers.


Founded

2014

HQ

China

Employees

1.8K

Financials (LTM)

Revenue: $240M
EBITDA: ($19M)

EV

$199M

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So-Young Financials

So-Young reported last 12-month revenue of $240M and negative EBITDA of ($19M).

In the same LTM period, So-Young generated $106M in gross profit, ($19M) in EBITDA losses, and had net loss of ($23M).

Revenue (LTM)


So-Young P&L

In the most recent fiscal year, So-Young reported revenue of $214M and EBITDA of ($6M).

So-Young expects next 12-month revenue of XXX and NTM EBITDA of XXX

See So-Young forward-looking valuation multiples
LTMNTMLast FYFY 2026FY 2027FY 2028
Revenue$240MXXX$214MXXXXXXXXX
Gross Profit$106MXXX$131MXXXXXXXXX
Gross Margin44%XXX61%XXXXXXXXX
EBITDA($19M)XXX($6M)XXXXXXXXX
EBITDA Margin(8%)XXX(3%)XXXXXXXXX
EBIT Margin(11%)XXX(3%)XXXXXXXXX
Net Profit($23M)XXX($81M)XXXXXXXXX
Net Margin(10%)XXX(38%)XXXXXXXXX

Financial data powered by Morningstar, Inc.

So-Young Stock Performance

So-Young has current market cap of $287M, and enterprise value of $199M.

Market Cap Evolution


So-Young's stock price is $2.88.

See So-Young trading valuation data
EVMarket CapPrice 1DPrice 1MPrice 3MPrice 12MEPS
$199M$287M0.0%XXXXXXXXX$-0.81

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So-Young Valuation Multiples

So-Young trades at 0.8x EV/Revenue multiple, and (10.4x) EV/EBITDA.

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EV / Revenue (LTM)


So-Young Financial Valuation Multiples

As of March 17, 2026, So-Young has market cap of $287M and EV of $199M.

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

So-Young has a P/E ratio of (12.5x).

LTMNTMLast FYFY 2026FY 2027FY 2028
Market cap (current)$287MXXX$287MXXXXXXXXX
EV (current)$199MXXX$199MXXXXXXXXX
EV/Revenue0.8xXXX0.9xXXXXXXXXX
EV/EBITDA(10.4x)XXX(35.4x)XXXXXXXXX
EV/EBIT(7.4x)XXX(27.8x)XXXXXXXXX
EV/Gross Profit1.9xXXX1.5xXXXXXXXXX
P/E(12.5x)XXX(3.5x)XXXXXXXXX
EV/FCF(24.2x)XXX(15.5x)XXXXXXXXX

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

Verified So-Young Valuation Multiples

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So-Young Margins & Growth Rates

So-Young's revenue in the last 12 month grew by 44%.

So-Young's revenue per employee in the last FY averaged $0.1M.

So-Young's rule of 40 is 36% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

So-Young's rule of X is 103% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

See operational valuation multiples for So-Young and other 15K+ public comps

So-Young Operational Valuation Multiples

LTMNTMLast FYFY 2026FY 2027FY 2028
Revenue Growth44%XXX2%XXXXXXXXX
EBITDA Margin(8%)XXX(3%)XXXXXXXXX
EBITDA Growth(159%)XXX336%XXXXXXXXX
Rule of 40—XXX36%XXXXXXXXX
Bessemer Rule of X—XXX103%XXXXXXXXX
Revenue per Employee—XXX$0.1MXXXXXXXXX
S&M Expenses to Revenue—XXX34%XXXXXXXXX
G&A Expenses to Revenue—XXX22%XXXXXXXXX
R&D Expenses to Revenue—XXX11%XXXXXXXXX
Opex to Revenue—XXX67%XXXXXXXXX

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

Valuation Multiples Across 230+ Verticals

So-Young Public Comps

See public comps and valuation multiples for other Online Content & News and Vertical Marketplaces comps.

EV/RevenueEV/EBITDA
LTM2026E2027ELTM2026E2027E
ReachXXXXXXXXXXXXXXXXXX
HomeToGoXXXXXXXXXXXXXXXXXX
ZhihuXXXXXXXXXXXXXXXXXX
DidaXXXXXXXXXXXXXXXXXX
EnXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXXXXXXX

Valuation data powered by FactSet, Inc.

So-Young M&A Activity

So-Young acquired XXX companies to date.

Last acquisition by So-Young was on XXXXXXXX, XXXXX. So-Young acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).

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Latest Acquisitions by So-Young

Acquired CompanyValuationEV/RevenueEV/EBITDA
XXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXX

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So-Young Investment Activity

So-Young invested in XXX companies to date.

So-Young made its latest investment on XXXXXXXX, XXXXX. So-Young invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).

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Latest Investments by So-Young

CompanyValuationEV/RevenueEV/EBITDA
XXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXX
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About So-Young

When was So-Young founded?So-Young was founded in 2014.
Where is So-Young headquartered?So-Young is headquartered in China.
How many employees does So-Young have?As of today, So-Young has over 1K employees.
Who is the CEO of So-Young?So-Young's CEO is Xing Jin.
Is So-Young publicly listed?Yes, So-Young is a public company listed on Nasdaq.
What is the stock symbol of So-Young?So-Young trades under SY ticker.
When did So-Young go public?So-Young went public in 2019.
Who are competitors of So-Young?So-Young main competitors are Reach, HomeToGo, Zhihu, Dida.
What is the current market cap of So-Young?So-Young's current market cap is $287M.
What is the current revenue of So-Young?So-Young's last 12 months revenue is $240M.
What is the current revenue growth of So-Young?So-Young revenue growth (NTM/LTM) is 44%.
What is the current EV/Revenue multiple of So-Young?Current revenue multiple of So-Young is 0.8x.
Is So-Young profitable?No, So-Young is not profitable.
What is the current EBITDA of So-Young?So-Young has negative EBITDA and is not profitable.
What is So-Young's EBITDA margin?So-Young's last 12 months EBITDA margin is (8%).
What is the current EV/EBITDA multiple of So-Young?Current EBITDA multiple of So-Young is (10.4x).
What is the current FCF of So-Young?So-Young's last 12 months FCF is ($8M).
What is So-Young's FCF margin?So-Young's last 12 months FCF margin is (3%).
What is the current EV/FCF multiple of So-Young?Current FCF multiple of So-Young is (24.2x).

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