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Spir Group Valuation Multiples

Discover revenue and EBITDA valuation multiples for Spir Group and similar public comparables like Ctac, Mastech Digital, and Bravura Solutions.

Spir Group Overview

About Spir Group

Spir Group ASA is a software company. It specializes in offering digital solutions to companies in the Nordic region. It provides digital solutions for case management and archive systems. The company provides solutions like RiskManager, eByggesak, Cloud, Lekdommer, and Sak-Arkiv. The company works in four segments Sikri, Ambita, Boligmappa and Metria segments.


Founded

2019

HQ

Norway
Employees

354

Website

spirgroup.com

Financials

LTM Revenue $109M

LTM EBITDA $19.3M

EV

$180M

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Spir Group Financials

Spir Group has a last 12-month revenue of $109M and a last 12-month EBITDA of $19.3M.

In the most recent fiscal year, Spir Group achieved revenue of $107M and an EBITDA of $23.2M.

Spir Group expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Spir Group P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $99.9M $107M XXX XXX XXX
Gross Profit $59.9M $60.6M XXX XXX XXX
Gross Margin 60% 57% XXX XXX XXX
EBITDA $15.8M $23.2M XXX XXX XXX
EBITDA Margin 16% 22% XXX XXX XXX
Net Profit $2.2M -$1.4M XXX XXX XXX
Net Margin 2% -1% XXX XXX XXX
Net Debt $67.7M $58.3M XXX XXX XXX

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Spir Group Stock Performance

As of April 15, 2025, Spir Group's stock price is NOK 9 (or $1).

Spir Group has current market cap of NOK 1.2B (or $112M), and EV of NOK 1.9B (or $180M).

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Spir Group Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$180M $112M XXX XXX XXX XXX $0.06

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Spir Group Valuation Multiples

As of April 15, 2025, Spir Group has market cap of $112M and EV of $180M.

Spir Group's trades at 1.7x LTM EV/Revenue multiple, and 9.4x LTM EBITDA.

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

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Spir Group Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $180M XXX XXX XXX
EV/Revenue 1.7x XXX XXX XXX
EV/EBITDA 7.8x XXX XXX XXX
P/E 35.2x XXX XXX XXX
P/E/Growth 0.8x XXX XXX XXX
EV/FCF 16.9x XXX XXX XXX

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

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Spir Group Valuation Multiples

Spir Group's NTM/LTM revenue growth is 9%

Spir Group's revenue per employee for the last fiscal year averaged $0.3M, while opex per employee averaged $0.2M for the same period.

Over next 12 months, Spir Group'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 Spir Group's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Spir Group Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth 7% XXX XXX XXX XXX
EBITDA Margin 22% XXX XXX XXX XXX
EBITDA Growth 47% XXX XXX XXX XXX
Rule of 40 (SaaS-only) 31% XXX XXX XXX XXX
Revenue per Employee $0.3M XXX XXX XXX XXX
Opex per Employee $0.2M XXX XXX XXX XXX
S&M Expenses to Revenue n/a XXX XXX XXX XXX
G&A Expenses to Revenue n/a XXX XXX XXX XXX
R&D Expenses to Revenue n/a XXX XXX XXX XXX
Opex to Revenue 57% XXX XXX XXX XXX

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Spir Group Public Comps

See public comps and valuation multiples for IT Consulting comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
XXX XXX XXX XXX XXX XXX
Ctac XXX XXX XXX XXX XXX XXX
Mastech Digital XXX XXX XXX XXX XXX XXX
Atturra XXX XXX XXX XXX XXX XXX
Bravura Solutions XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Spir Group M&A and Investment Activity

Spir Group acquired  XXX companies to date.

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

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Latest Acquisitions by Spir Group

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 Spir Group

When was Spir Group founded? Spir Group was founded in 2019.
Where is Spir Group headquartered? Spir Group is headquartered in Norway.
How many employees does Spir Group have? As of today, Spir Group has 354 employees.
Is Spir Group publicy listed? Yes, Spir Group is a public company listed on OSL.
What is the stock symbol of Spir Group? Spir Group trades under SPIR ticker.
When did Spir Group go public? Spir Group went public in 2020.
Who are competitors of Spir Group? Similar companies to Spir Group include e.g. , Ctac, Mastech Digital, Atturra.
What is the current market cap of Spir Group? Spir Group's current market cap is $112M
What is the current revenue of Spir Group? Spir Group's last 12-month revenue is $109M.
What is the current EBITDA of Spir Group? Spir Group's last 12-month EBITDA is $19.3M.
What is the current EV/Revenue multiple of Spir Group? Current revenue multiple of Spir Group is 1.7x.
What is the current EV/EBITDA multiple of Spir Group? Current EBITDA multiple of Spir Group is 9.4x.
What is the current revenue growth of Spir Group? Spir Group revenue growth between 2023 and 2024 was 7%.
Is Spir Group profitable? Yes, Spir Group is EBITDA-positive (as of the last 12 months).

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