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TF Bank Valuation Multiples

Discover revenue and EBITDA valuation multiples for TF Bank and similar public comparables like RAKBANK, National Bank of Fujairah, and First Abu Dhabi Bank.

TF Bank Overview

About TF Bank

TF Bank AB is a digital bank offering consumer banking services and e-commerce solutions through a proprietary IT platform with a high degree of automation. The business is divided into three segments: Credit Cards, e-commerce solutions, and Consumer Lending. TF Bank prioritizes organic growth under controlled conditions, and expansion is taking place in carefully selected segments and markets. The business is conducted in Sweden, Finland, Norway, Denmark, Estonia, Latvia, Lithuania, Poland, Germany, Austria, Spain, Ireland, and the Netherlands through subsidiary, branch, or cross-border banking with the support of the Swedish banking license.


Founded

1987

HQ

Sweden
Employees

417

Website

group.tfbank.se

Financials

LTM Revenue $267M

LTM EBITDA n/a

EV

$865M

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TF Bank Financials

TF Bank has a last 12-month revenue of $267M and a last 12-month EBITDA of n/a.

In the most recent fiscal year, TF Bank achieved revenue of $248M and an EBITDA of n/a.

TF Bank expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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TF Bank P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $202M $248M 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 $35.0M $40.8M XXX XXX XXX
Net Margin 17% 16% XXX XXX XXX
Net Debt $22.2M $44.4M XXX XXX XXX

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TF Bank Stock Performance

As of May 16, 2025, TF Bank's stock price is SEK 375 (or $38).

TF Bank has current market cap of SEK 8.1B (or $829M), and EV of SEK 8.4B (or $865M).

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TF Bank Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$865M $829M XXX XXX XXX XXX $2.63

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TF Bank Valuation Multiples

As of May 16, 2025, TF Bank has market cap of $829M and EV of $865M.

TF Bank's trades at 3.2x LTM EV/Revenue multiple, and n/a LTM EBITDA.

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

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TF Bank Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $865M XXX XXX XXX
EV/Revenue 3.5x XXX XXX XXX
EV/EBITDA n/a XXX XXX XXX
P/E 12.8x XXX XXX XXX
P/E/Growth 0.8x XXX XXX XXX
EV/FCF -5.2x XXX XXX XXX

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TF Bank Valuation Multiples

TF Bank's NTM/LTM revenue growth is 19%

TF Bank's revenue per employee for the last fiscal year averaged $0.6M, while opex per employee averaged n/a for the same period.

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

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TF Bank Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth 23% 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 $0.6M XXX XXX XXX XXX
Opex per Employee n/a XXX XXX XXX XXX
S&M Expenses to Revenue 0% 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 0% XXX XXX XXX XXX

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TF Bank Public Comps

See public comps and valuation multiples for Commercial Banking comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Abu Dhabi Commercial Bank XXX XXX XXX XXX XXX XXX
Abu Dhabi Islamic Bank XXX XXX XXX XXX XXX XXX
First Abu Dhabi Bank XXX XXX XXX XXX XXX XXX
National Bank of Fujairah XXX XXX XXX XXX XXX XXX
RAKBANK 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.

TF Bank M&A and Investment Activity

TF Bank acquired  XXX companies to date.

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

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Latest Acquisitions by TF Bank

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 TF Bank

When was TF Bank founded? TF Bank was founded in 1987.
Where is TF Bank headquartered? TF Bank is headquartered in Sweden.
How many employees does TF Bank have? As of today, TF Bank has 417 employees.
Who is the CEO of TF Bank? TF Bank's CEO is Mr. Mikael Meomuttel.
Is TF Bank publicy listed? Yes, TF Bank is a public company listed on STO.
What is the stock symbol of TF Bank? TF Bank trades under TFBANK ticker.
When did TF Bank go public? TF Bank went public in 2016.
Who are competitors of TF Bank? Similar companies to TF Bank include e.g. Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, First Abu Dhabi Bank, National Bank of Fujairah.
What is the current market cap of TF Bank? TF Bank's current market cap is $829M
What is the current revenue of TF Bank? TF Bank's last 12-month revenue is $267M.
What is the current EV/Revenue multiple of TF Bank? Current revenue multiple of TF Bank is 3.2x.
What is the current revenue growth of TF Bank? TF Bank revenue growth between 2023 and 2024 was 23%.
Is TF Bank profitable? Yes, TF Bank is EBITDA-positive (as of the last 12 months).

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