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Stem Valuation Multiples

Discover revenue and EBITDA valuation multiples for Stem and similar public comparables like Hansen Technologies, EnviroSuite, and Energy One.

Stem Overview

About Stem

Stem Inc is a provider of energy storage systems. The company bundles third-party hardware with its proprietary Athena software to provide customers a turnkey solution. Stem sells its solutions to commercial and industrial customers as well as independent power producers and renewable developers. Its solutions help customers maximize renewable energy generation and help build a cleaner and more resilient grid. The Company operates as one operating segment that is focused exclusively on technology services that transform the way energy is distributed and consumed.


Founded

2009

HQ

United States of America
Employees

569

Website

stem.com

Financials

LTM Revenue $147M

LTM EBITDA -$15.9M

EV

$562M

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Stem Financials

Stem has a last 12-month revenue (LTM) of $147M and a last 12-month EBITDA of -$15.9M.

In the most recent fiscal year, Stem achieved revenue of $145M and an EBITDA of -$790M.

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

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Stem P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $147M XXX $145M XXX XXX XXX
Gross Profit $9.9M XXX -$11.1M XXX XXX XXX
Gross Margin 7% XXX -8% XXX XXX XXX
EBITDA -$15.9M XXX -$790M XXX XXX XXX
EBITDA Margin -11% XXX -547% XXX XXX XXX
EBIT -$518M XXX -$188M XXX XXX XXX
EBIT Margin -354% XXX -130% XXX XXX XXX
Net Profit -$535M XXX -$854M XXX XXX XXX
Net Margin -365% XXX -591% XXX XXX XXX
Net Debt XXX XXX $470M XXX XXX XXX

Financial data powered by Morningstar, Inc.

Stem Stock Performance

As of May 30, 2025, Stem's stock price is $0.

Stem has current market cap of $81.4M, and EV of $562M.

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Stem Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$562M $81.4M XXX XXX XXX XXX $-3.31

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Stem Valuation Multiples

As of May 30, 2025, Stem has market cap of $81.4M and EV of $562M.

Stem's trades at 3.9x EV/Revenue multiple, and -0.7x EV/EBITDA.

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

Stem has a P/E ratio of -0.2x.

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Stem Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $81.4M XXX $81.4M XXX XXX XXX
EV (current) $562M XXX $562M XXX XXX XXX
EV/Revenue 3.8x XXX 3.9x XXX XXX XXX
EV/EBITDA -35.2x XXX -0.7x XXX XXX XXX
EV/EBIT -1.1x XXX -3.0x XXX XXX XXX
EV/Gross Profit 56.8x XXX n/a XXX XXX XXX
P/E -0.2x XXX -0.1x XXX XXX XXX
EV/FCF -3.3x XXX -11.6x XXX XXX XXX

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Stem Margins & Growth Rates

Stem's last 12 month revenue growth is 10%

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

Stem's rule of 40 is -7% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Stem's rule of X is 15% (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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Stem Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 10% XXX 11% XXX XXX XXX
EBITDA Margin -11% XXX -547% XXX XXX XXX
EBITDA Growth -123% XXX n/a XXX XXX XXX
Rule of 40 -7% XXX -537% XXX XXX XXX
Bessemer Rule of X XXX XXX 15% XXX XXX XXX
Revenue per Employee XXX XXX $0.3M XXX XXX XXX
Opex per Employee XXX XXX $0.3M XXX XXX XXX
S&M Expenses to Revenue XXX XXX 26% XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX 35% XXX XXX XXX
Opex to Revenue XXX XXX 122% XXX XXX XXX

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Stem Public Comps

See public comps and valuation multiples for Energy & Utilities Software and Energy Storage comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Chrysos Corp. XXX XXX XXX XXX XXX XXX
Energy One XXX XXX XXX XXX XXX XXX
EnviroSuite XXX XXX XXX XXX XXX XXX
Hansen Technologies XXX XXX XXX XXX XXX XXX
RPMGlobal XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Stem M&A and Investment Activity

Stem acquired  XXX companies to date.

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

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Latest Acquisitions by Stem

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 Stem

When was Stem founded? Stem was founded in 2009.
Where is Stem headquartered? Stem is headquartered in United States of America.
How many employees does Stem have? As of today, Stem has 569 employees.
Who is the CEO of Stem? Stem's CEO is Mr. Arun Narayanan.
Is Stem publicy listed? Yes, Stem is a public company listed on NYS.
What is the stock symbol of Stem? Stem trades under STEM ticker.
When did Stem go public? Stem went public in 2021.
Who are competitors of Stem? Similar companies to Stem include e.g. Chrysos Corp., Energy One, EnviroSuite, Hansen Technologies.
What is the current market cap of Stem? Stem's current market cap is $81.4M
What is the current revenue of Stem? Stem's last 12 months revenue is $147M.
What is the current revenue growth of Stem? Stem revenue growth (NTM/LTM) is 10%.
What is the current EV/Revenue multiple of Stem? Current revenue multiple of Stem is 3.8x.
Is Stem profitable? Yes, Stem is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of Stem? Stem's last 12 months EBITDA is -$15.9M.
What is Stem's EBITDA margin? Stem's last 12 months EBITDA margin is -11%.
What is the current EV/EBITDA multiple of Stem? Current EBITDA multiple of Stem is -35.2x.
What is the current FCF of Stem? Stem's last 12 months FCF is -$170M.
What is Stem's FCF margin? Stem's last 12 months FCF margin is -116%.
What is the current EV/FCF multiple of Stem? Current FCF multiple of Stem is -3.3x.

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