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Solid Valuation Multiples

Discover revenue and EBITDA valuation multiples for Solid and similar public comparables like Challenger, ADNIC, and Aegon.

Solid Overview

About Solid

Solid Forsakringsaktiebolag is a niche insurance company in the Nordic region in non-life insurance. The company sells insurance in three different segments which include Product, Personal Safety, and Assistance. Geographically it has a presence in Sweden, Norway, Denmark, Finland, and Others. It generates the majority of its revenue from Sweden.


Founded

1993

HQ

Sweden
Employees

75

Website

solidab.se

Financials

LTM Revenue $116M

LTM EBITDA n/a

EV

$123M

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Solid Financials

Solid has a last 12-month revenue of $116M and a last 12-month EBITDA of n/a.

In the most recent fiscal year, Solid achieved revenue of $130M and an EBITDA of n/a.

Solid expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Solid P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $126M $130M XXX XXX XXX
Gross Profit n/a n/a XXX XXX XXX
Gross Margin NaN% NaN% XXX XXX XXX
EBITDA n/a n/a XXX XXX XXX
EBITDA Margin NaN% NaN% XXX XXX XXX
Net Profit $11.5M $17.2M XXX XXX XXX
Net Margin 9% 13% XXX XXX XXX
Net Debt n/a n/a XXX XXX XXX

Financial data powered by Morningstar, Inc.

Solid Stock Performance

As of April 25, 2025, Solid's stock price is SEK 79 (or $8).

Solid has current market cap of SEK 1.4B (or $147M), and EV of SEK 1.2B (or $123M).

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Solid Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$123M $147M XXX XXX XXX XXX $0.89

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Solid Valuation Multiples

As of April 25, 2025, Solid has market cap of $147M and EV of $123M.

Solid's trades at 1.1x LTM EV/Revenue multiple, and n/a LTM EBITDA.

Analysts estimate Solid's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Solid Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $123M XXX XXX XXX
EV/Revenue 0.9x XXX XXX XXX
EV/EBITDA n/a XXX XXX XXX
P/E 8.6x XXX XXX XXX
P/E/Growth -1.9x XXX XXX XXX
EV/FCF 10.5x XXX XXX XXX

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Solid Valuation Multiples

Solid's NTM/LTM revenue growth is -1%

Solid's revenue per employee for the last fiscal year averaged $1.7M, while opex per employee averaged n/a for the same period.

Over next 12 months, Solid's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate Solid's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Solid Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth 3% XXX XXX XXX XXX
EBITDA Margin n/a XXX XXX XXX XXX
EBITDA Growth n/a XXX XXX XXX XXX
Rule of 40 (SaaS-only) n/a XXX XXX XXX XXX
Revenue per Employee $1.7M XXX XXX XXX XXX
Opex per Employee n/a XXX XXX XXX XXX
S&M Expenses to Revenue n/a XXX XXX XXX XXX
G&A Expenses to Revenue 10% XXX XXX XXX XXX
R&D Expenses to Revenue n/a XXX XXX XXX XXX
Opex to Revenue n/a XXX XXX XXX XXX

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Solid Public Comps

See public comps and valuation multiples for Insurance Carriers comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
ADNIC XXX XXX XXX XXX XXX XXX
Aegon XXX XXX XXX XXX XXX XXX
ASR Nederland XXX XXX XXX XXX XXX XXX
NN Group XXX XXX XXX XXX XXX XXX
Challenger XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

Valuation data powered by FactSet, Inc.

Solid M&A and Investment Activity

Solid acquired  XXX companies to date.

Last acquisition by Solid was  XXXXXXXX, XXXXX XXXXX XXXXXX . Solid acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Solid

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Solid

When was Solid founded? Solid was founded in 1993.
Where is Solid headquartered? Solid is headquartered in Sweden.
How many employees does Solid have? As of today, Solid has 75 employees.
Who is the CEO of Solid? Solid's CEO is Mr. Marcus Tillberg.
Is Solid publicy listed? Yes, Solid is a public company listed on STO.
What is the stock symbol of Solid? Solid trades under SFAB ticker.
When did Solid go public? Solid went public in 2021.
Who are competitors of Solid? Similar companies to Solid include e.g. ADNIC, Aegon, ASR Nederland, NN Group.
What is the current market cap of Solid? Solid's current market cap is $147M
What is the current revenue of Solid? Solid's last 12-month revenue is $116M.
What is the current EV/Revenue multiple of Solid? Current revenue multiple of Solid is 1.1x.
What is the current revenue growth of Solid? Solid revenue growth between 2023 and 2024 was 3%.
Is Solid profitable? Yes, Solid is EBITDA-positive (as of the last 12 months).

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