Spadel - Public Comps and Valuation Multiples

Spadel Overview

About Spadel

Spadel SA produces and markets mineral water, lemonade, and fruit juices. The company also sells water coolers and dispensers. It produces brands of natural mineral water, spring water, and refreshing beverages. Its products are marketed under the brand names Spa, Bru, Wattwiller, Carola, and Brecon.

Founded

1980

HQ

Employees

1.3K+

Website

spadel.com

Sectors

Food & Beverages

Financials

Last FY Revenue $445M

Last FY EBITDA $87.2M

EV

$931M

Valuation Multiples

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Spadel Financials

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Spadel P&L

In the most recent fiscal year, Spadel reported revenue of $445M and EBITDA of $87.2M.

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

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	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	XXX	$445M	XXX	XXX	XXX
Gross Profit	XXX	$175M	XXX	XXX	XXX
Gross Margin	XXX	39%	XXX	XXX	XXX
EBITDA	XXX	$87.2M	XXX	XXX	XXX
EBITDA Margin	XXX	20%	XXX	XXX	XXX
EBIT	XXX	$56.0M	XXX	XXX	XXX
EBIT Margin	XXX	13%	XXX	XXX	XXX
Net Profit	XXX	$48.1M	XXX	XXX	XXX
Net Margin	XXX	11%	XXX	XXX	XXX
Net Debt	XXX	n/a	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Spadel including revenue, profitability, and margin analysis across different time periods. In the most recent fiscal year, Spadel achieved $445M in revenue and $87.2M in EBITDA.
Financial Metric	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	Analyst estimates available to subscribers	$445M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	Analyst estimates available to subscribers	$175M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	Analyst estimates available to subscribers	39.4% 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)	Analyst estimates available to subscribers	$87.2M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	Analyst estimates available to subscribers	19.6% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	Analyst estimates available to subscribers	$56.0M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	Analyst estimates available to subscribers	12.6% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	Analyst estimates available to subscribers	$48.1M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	Analyst estimates available to subscribers	10.8% 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	n/a	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Spadel

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

Fiscal Year Performance

In the most recent fiscal year, Spadel reported $445M in total revenue.
Fiscal year EBITDA was $87.2M.
The company maintained a gross profit margin of 39.4% in the most recent fiscal year.
EBITDA margin for the fiscal year was 19.6%.
Net profit margin reached 10.8% in the most recent fiscal year.

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

Spadel Stock Performance

Spadel has current market cap of EUR 930M (or $1.1B), and EV of EUR 794M (or $931M).

Market Cap Evolution

Spadel Stock Data

As of September 12, 2025, Spadel's stock price is EUR 224 (or $263).

See Spadel trading valuation data

EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$931M	$1.1B	XXX	XXX	XXX	XXX	n/a

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Spadel Valuation Multiples

Spadel's trades at 2.1x EV/Revenue multiple, and 10.7x EV/EBITDA.

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Spadel Financial Valuation Multiples

As of September 12, 2025, Spadel has market cap of $1.1B and EV of $931M.

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

Spadel's P/E ratio is not available.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$1.1B	XXX	$1.1B	XXX	XXX	XXX
EV (current)	$931M	XXX	$931M	XXX	XXX	XXX
EV/Revenue	n/a	XXX	2.1x	XXX	XXX	XXX
EV/EBITDA	n/a	XXX	10.7x	XXX	XXX	XXX
EV/EBIT	n/a	XXX	16.6x	XXX	XXX	XXX
EV/Gross Profit	n/a	XXX	n/a	XXX	XXX	XXX
P/E	n/a	XXX	22.7x	XXX	XXX	XXX
EV/FCF	n/a	XXX	17.6x	XXX	XXX	XXX

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

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Spadel Margins & Growth Rates

Spadel's revenue per employee in the last FY averaged $0.3M, while opex per employee averaged $0.1M for the same period.

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

Spadel'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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Spadel 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	20%	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	$0.3M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.1M	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	27%	XXX	XXX	XXX

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

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