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SOL Valuation Multiples

Discover revenue and EBITDA valuation multiples for SOL and similar public comparables like Dottikon ES Holding, Sumitomo Chemical, IMCD, Axalta Coating Systems and more.

SOL Overview

About SOL

SOL SpA manufactures and sells industrial gases and medical equipment. The firm's two segments are based on product type. The home-care segment, which generates the majority of revenue, sells a variety of medicinal gases including oxygen, nitrogen, nitrous oxide, carbon dioxide, synthetic air, and medical air. The segment also provides medical air services for hospitals. The technical gases segment sells gas-based products to the energy, agricultural, food, metalworking, glass, and electronics industries. More of SOL's revenue comes from Italy than any other country.


Founded

1927

HQ

Italy

Employees

4.9K

Sectors

Financials (LTM)

Revenue: $2B
EBITDA: $542M

EV

$7B

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SOL Financials

SOL reported last 12-month revenue of $2B and EBITDA of $542M.

In the same LTM period, SOL generated $542M in EBITDA and $203M in net income.

Revenue (LTM)


SOL P&L

In the most recent fiscal year, SOL reported revenue of $2B and EBITDA of $521M.

SOL is profitable as of last fiscal year, with gross margin of 75%, EBITDA margin of 25%, and net margin of 9%.

See analyst estimates for SOL
LTMLast FY202320242025202620272028
Revenue$2B$2B$2B$2B$2B
Gross Profit—$2B$1B$1B$2B
Gross Margin—75%73%75%75%
EBITDA$542M$521M$430M$456M$507M
EBITDA Margin26%25%25%24%25%
EBIT Margin15%15%13%13%14%
Net Profit$203M$195M$170M$172M$195M
Net Margin10%9%10%9%9%
Net Debt—$357M———

Financial data powered by Morningstar, Inc.

SOL Stock Performance

SOL has current market cap of $6B, and enterprise value of $7B.

Market Cap Evolution


SOL's stock price is $68.88.

SOL share price increased by 2.3% in the last 30 days, and by 30.3% in the last year.

SOL has an EPS (earnings per share) of $2.15.

See more trading valuation data for SOL
EVMarket CapPrice 1DPrice 1MPrice 3MPrice 12MEPS
$7B$6B0.4%2.3%13.0%30.3%$2.15

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SOL Valuation Multiples

SOL trades at 3.1x EV/Revenue multiple, and 12.3x EV/EBITDA.

See NTM and 2027E valuation multiples for SOL

EV / Revenue (LTM)


SOL Financial Valuation Multiples

As of May 20, 2026, SOL has market cap of $6B and EV of $7B.

SOL has a P/E ratio of 30.8x.

LTMLast FY202320242025202620272028
EV/Revenue3.1x3.2x3.8x3.6x3.2x
EV/EBITDA12.3x12.8x15.5x14.6x13.1x
EV/EBIT20.5x21.4x30.6x27.5x23.7x
EV/Gross Profit—4.3x5.3x4.7x4.3x
P/E30.8x32.1x36.8x36.3x32.1x
EV/FCF76.1x95.3x87.8x120.5x220.0x

Multiples above and below 250x are considered non-meaningful (n/m). Valuation data powered by FactSet, Inc. and Morningstar, Inc.

Verified SOL Valuation Multiples

Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.

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SOL Margins & Growth Rates

SOL grew revenue by 8% and EBITDA by 10% in the last fiscal year.

In the most recent fiscal year, SOL reported gross margin of 75%, EBITDA margin of 25%, and net margin of 9%.

See estimated margins and future growth rates for SOL

SOL Margins

Last FY202420252026202720282029
Gross Margin75%75%75%—
EBITDA Margin25%24%25%26%
EBIT Margin15%13%14%16%
Net Margin9%9%9%10%
FCF Margin3%3%1%5%

SOL Growth Rates

FY+1/FY23/2424/2525/2626/2727/2828/29
Revenue Growth8%8%10%8%
Gross Profit Growth—11%10%—
EBITDA Growth10%6%11%13%
EBIT Growth11%11%16%23%
Net Profit Growth12%1%13%12%
FCF Growth66%(27%)(45%)283%

Data powered by FactSet, Inc. and Morningstar, Inc.

SOL Operational KPIs

SOL's revenue per employee in the last FY averaged $0.4M, while opex per employee averaged $0.3M for the same period.

SOL's Rule of 40 is 33% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

SOL's Rule of X is 45% (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).

Access forward-looking KPIs for SOL
LTMLast FY202320242025202620272028
Rule of 4034%33%———
Bessemer Rule of X46%45%———
Revenue per Employee—$0.4M———
Opex per Employee—$0.3M———
Opex to Revenue—61%60%62%61%

Data powered by FactSet, Inc. and Morningstar, Inc.

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SOL Competitors

SOL competitors include Dottikon ES Holding, Sumitomo Chemical, IMCD, Axalta Coating Systems, Luberef, Celanese, Wacker Chemie, Mitsubishi Gas Chemical, UPL and Arkema.

Most SOL public comparables operate across Chemicals.

EV/RevenueEV/EBITDA
Last FYLTM2027ELast FYLTM2027E
Dottikon ES Holding12.5x10.3x33.2x27.8x
Sumitomo Chemical0.7x0.8x9.0x6.8x
IMCD1.4x1.4x12.8x12.6x
Axalta Coating Systems1.7x1.6x7.5x7.5x
Luberef2.7x2.4x18.2x15.0x
Celanese1.8x1.7x9.0x8.6x
Wacker Chemie1.1x1.0x13.6x11.3x
Mitsubishi Gas Chemical1.3x1.4x10.9x12.0x

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SOL M&A Activity

SOL has acquired 1 company to date.

Last acquisition by SOL was on May 22nd 2024. SOL acquired MedAir Oxygen Solution for undisclosed valuation.

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Latest Acquisitions by SOL

MedAir Oxygen Solution
Description
MedAir Oxygen Solution is a Bucharest-based manufacturer supplying oxygen concentrators, CPAP devices for sleep apnea, spirometers, and nebulizers for respiratory conditions throughout Romania and Eastern Europe. Established in 2005, it distributes CE-marked medical equipment to clinics, pharmacies, and home care providers, with production facilities focused on durable, portable units for chronic obstructive pulmonary disease treatment.
HQ CountryRomania
HQ City
Slatina
Deal Date22 May 2024
Valuationundisclosed
EV/Revenue
EV/EBITDA

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About SOL

When was SOL founded?SOL was founded in 1927.
Where is SOL headquartered?SOL is headquartered in Italy.
How many employees does SOL have?As of today, SOL has over 4K employees.
Who is the CEO of SOL?SOL's CEO is Aldo Fumagalli Romario.
Is SOL publicly listed?Yes, SOL is a public company listed on Borsa Italiana.
What is the stock symbol of SOL?SOL trades under SOL ticker.
When did SOL go public?SOL went public in 1998.
Who are competitors of SOL?SOL main competitors include Dottikon ES Holding, Sumitomo Chemical, IMCD, Axalta Coating Systems, Luberef, Celanese, Wacker Chemie, Mitsubishi Gas Chemical, UPL, Arkema.
What is the current market cap of SOL?SOL's current market cap is $6B.
What is the current revenue of SOL?SOL's last 12 months revenue is $2B.
What is the current revenue growth of SOL?SOL revenue growth (NTM/LTM) is 8%.
What is the current EV/Revenue multiple of SOL?Current revenue multiple of SOL is 3.1x.
Is SOL profitable?Yes, SOL is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of SOL?SOL's last 12 months EBITDA is $542M.
What is SOL's EBITDA margin?SOL's last 12 months EBITDA margin is 26%.
What is the current EV/EBITDA multiple of SOL?Current EBITDA multiple of SOL is 12.3x.
What is the current FCF of SOL?SOL's last 12 months FCF is $88M.
What is SOL's FCF margin?SOL's last 12 months FCF margin is 4%.
What is the current EV/FCF multiple of SOL?Current FCF multiple of SOL is 76.1x.
How many companies SOL has acquired to date?As of May 2026, SOL has acquired 1 company.
What was the largest acquisition by SOL?None of the M&A deals SOL has completed have disclosed valuations.
What companies SOL acquired?SOL acquired MedAir Oxygen Solution.
In how many companies SOL has invested to date?SOL hasn't invested in any companies yet (or none have been disclosed publicly).

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