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Swiggy Valuation Multiples

Discover revenue and EBITDA valuation multiples for Swiggy and similar public comparables like Articore Group, Airtasker, and Marti Technologies.

Swiggy Overview

About Swiggy

Swiggy Ltd is a consumer-first technology company offering users an easy to use convenience platform, accessible through a unified app to browse, select, order and pay for food (Food Delivery), grocery and household items (Instamart), and have their orders delivered to their doorstep through on-demand delivery partner network. Its platform can be used to make restaurant reservations (Dineout) and for events bookings (SteppinOut). It has five business segments: Food Delivery, Out of home consumption, Quick commerce. Supply chain and distribution and Platform Innovations. Key revenue is generated from Food delivery business that offer on demand Food Delivery services through a network of restaurant partners and delivery partners, which is available through mobile application and or website.


Founded

2013

HQ

India
Employees

5.4K+

Website

swiggy.com

Financials

LTM Revenue $1.9B

LTM EBITDA -$277M

EV

$8.4B

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Swiggy Financials

Swiggy has a last 12-month revenue (LTM) of $1.9B and a last 12-month EBITDA of -$277M.

In the most recent fiscal year, Swiggy achieved revenue of $1.8B and an EBITDA of -$282M.

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

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Swiggy P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $1.9B XXX $1.8B XXX XXX XXX
Gross Profit $1.1B XXX $1.1B XXX XXX XXX
Gross Margin 58% XXX 61% XXX XXX XXX
EBITDA -$277M XXX -$282M XXX XXX XXX
EBITDA Margin -15% XXX -16% XXX XXX XXX
EBIT -$385M XXX -$398M XXX XXX XXX
EBIT Margin -20% XXX -22% XXX XXX XXX
Net Profit -$358M XXX -$365M XXX XXX XXX
Net Margin -19% XXX -20% XXX XXX XXX
Net Debt XXX XXX n/a XXX XXX XXX

Financial data powered by Morningstar, Inc.

Swiggy Stock Performance

As of May 30, 2025, Swiggy's stock price is INR 333 (or $4).

Swiggy has current market cap of INR 763B (or $8.9B), and EV of INR 717B (or $8.4B).

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Swiggy Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$8.4B $8.9B XXX XXX XXX XXX $-0.15

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Swiggy Valuation Multiples

As of May 30, 2025, Swiggy has market cap of $8.9B and EV of $8.4B.

Swiggy's trades at 5.1x EV/Revenue multiple, and -31.6x EV/EBITDA.

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

Swiggy has a P/E ratio of -25.0x.

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Swiggy Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $8.9B XXX $8.9B XXX XXX XXX
EV (current) $8.4B XXX $8.4B XXX XXX XXX
EV/Revenue 4.4x XXX 5.1x XXX XXX XXX
EV/EBITDA -30.4x XXX -31.6x XXX XXX XXX
EV/EBIT -21.8x XXX -22.4x XXX XXX XXX
EV/Gross Profit 7.6x XXX n/a XXX XXX XXX
P/E -25.0x XXX -26.1x XXX XXX XXX
EV/FCF -23.2x XXX -27.5x XXX XXX XXX

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Swiggy Margins & Growth Rates

Swiggy's last 12 month revenue growth is 37%

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

Swiggy's rule of 40 is 21% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Swiggy's rule of X is 78% (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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Swiggy Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 37% XXX 35% XXX XXX XXX
EBITDA Margin -15% XXX -16% XXX XXX XXX
EBITDA Growth -20% XXX n/a XXX XXX XXX
Rule of 40 21% XXX 21% XXX XXX XXX
Bessemer Rule of X XXX XXX 78% 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 18% 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 83% XXX XXX XXX

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Swiggy Public Comps

See public comps and valuation multiples for Consumer Marketplaces and Vertical Marketplaces comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Prosus XXX XXX XXX XXX XXX XXX
Just Eat Takeaway.com XXX XXX XXX XXX XXX XXX
Marti Technologies XXX XXX XXX XXX XXX XXX
Airtasker XXX XXX XXX XXX XXX XXX
Articore Group 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.

Swiggy M&A and Investment Activity

Swiggy acquired  XXX companies to date.

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

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Latest Acquisitions by Swiggy

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 Swiggy

When was Swiggy founded? Swiggy was founded in 2013.
Where is Swiggy headquartered? Swiggy is headquartered in India.
How many employees does Swiggy have? As of today, Swiggy has 5.4K+ employees.
Who is the CEO of Swiggy? Swiggy's CEO is Mr. Sriharsha Majety.
Is Swiggy publicy listed? Yes, Swiggy is a public company listed on NSE.
What is the stock symbol of Swiggy? Swiggy trades under SWIGGY ticker.
When did Swiggy go public? Swiggy went public in 2024.
Who are competitors of Swiggy? Similar companies to Swiggy include e.g. Prosus, Just Eat Takeaway.com, Marti Technologies, Airtasker.
What is the current market cap of Swiggy? Swiggy's current market cap is $8.9B
What is the current revenue of Swiggy? Swiggy's last 12 months revenue is $1.9B.
What is the current revenue growth of Swiggy? Swiggy revenue growth (NTM/LTM) is 37%.
What is the current EV/Revenue multiple of Swiggy? Current revenue multiple of Swiggy is 4.4x.
Is Swiggy profitable? Yes, Swiggy is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of Swiggy? Swiggy's last 12 months EBITDA is -$277M.
What is Swiggy's EBITDA margin? Swiggy's last 12 months EBITDA margin is -15%.
What is the current EV/EBITDA multiple of Swiggy? Current EBITDA multiple of Swiggy is -30.4x.
What is the current FCF of Swiggy? Swiggy's last 12 months FCF is -$362M.
What is Swiggy's FCF margin? Swiggy's last 12 months FCF margin is -19%.
What is the current EV/FCF multiple of Swiggy? Current FCF multiple of Swiggy is -23.2x.

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