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Trustpilot Group Valuation Multiples

Discover Trustpilot Group's revenue and EBITDA valuation multiples and investment history, alongside public comparables like Mony Group, Yelp, USA TODAY, LegalZoom and more.

Trustpilot Group Overview

About Trustpilot Group

Trustpilot Group PLC and its subsidiaries consist of developing and hosting an online review platform that helps consumers make purchasing decisions and businesses showcase and improve their services. Trustpilot is open, independent, and impartial and helps consumers make the right choices and businesses to build trust, grow and improve. The group consists of more than 300 million reviews and approximately 64 million monthly active users across the globe, with around 140 billion annual Trustbox impressions.


Founded

2007

HQ

United Kingdom

Employees

988

Financials (LTM)

Revenue: $281M
EBITDA: $46M

EV

$1B

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Trustpilot Group Financials

Trustpilot Group reported last 12-month revenue of $281M and EBITDA of $46M.

In the same LTM period, Trustpilot Group generated $166M in gross profit, $46M in EBITDA, and $14M in net income.

Revenue (LTM)


Trustpilot Group P&L

In the most recent fiscal year, Trustpilot Group reported revenue of $261M and EBITDA of $39M.

Trustpilot Group is profitable as of last fiscal year, with gross margin of 83%, EBITDA margin of 15%, and net margin of 3%.

See analyst estimates for Trustpilot Group
LTMLast FY202320242025202620272028
Revenue$281M$261M$176M$211M$261M
Gross Profit$166M$216M$145M$172M$216M
Gross Margin59%83%82%81%83%
EBITDA$46M$39M$9M$18M$28M
EBITDA Margin16%15%5%8%11%
EBIT Margin11%9%1%3%7%
Net Profit$14M$8M$7M$6M$8M
Net Margin5%3%4%3%3%

Financial data powered by Morningstar, Inc.

Trustpilot Group Stock Performance

Trustpilot Group has current market cap of $1B, and enterprise value of $1B.

Market Cap Evolution


Trustpilot Group's stock price is $3.22.

Trustpilot Group share price decreased by 0.6% in the last year.

Trustpilot Group has an EPS (earnings per share) of $0.02.

See more trading valuation data for Trustpilot Group
EVMarket CapPrice 1DPrice 1MPrice 3MPrice 12MEPS
$1B$1B-0.0%-0.0%22.8%-0.6%$0.02

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Trustpilot Group Valuation Multiples

Trustpilot Group trades at 4.3x EV/Revenue multiple, and 26.5x EV/EBITDA.

See NTM and 2027E valuation multiples for Trustpilot Group

EV / Revenue (LTM)


Trustpilot Group Financial Valuation Multiples

As of June 2, 2026, Trustpilot Group has market cap of $1B and EV of $1B.

Trustpilot Group has a P/E ratio of 91.9x.

LTMLast FY202320242025202620272028
EV/Revenue4.3x4.7x6.9x5.8x4.7x
EV/EBITDA26.5x30.8x136.3x68.6x43.7x
EV/EBIT39.9x49.2xn/m187.5x67.0x
EV/Gross Profit7.3x5.6x8.4x7.1x5.6x
P/E91.9x160.4x175.0x199.6x160.4x
EV/FCF28.6x23.9x70.1x61.6x23.9x

Multiples above and below 250x are considered non-meaningful (n/m). Valuation data powered by FactSet, Inc. and Morningstar, Inc.

Verified Trustpilot Group Valuation Multiples

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Trustpilot Group Margins & Growth Rates

Trustpilot Group grew revenue by 18% and EBITDA by 39% in the last fiscal year.

In the most recent fiscal year, Trustpilot Group reported gross margin of 83%, EBITDA margin of 15%, and net margin of 3%.

See estimated margins and future growth rates for Trustpilot Group

Trustpilot Group Margins

Last FY202420252026202720282029
Gross Margin83%81%83%60%
EBITDA Margin15%8%11%18%
EBIT Margin9%3%7%12%
Net Margin3%3%3%7%
FCF Margin19%9%19%14%

Trustpilot Group Growth Rates

FY+1/FY23/2424/2525/2626/2727/2828/29
Revenue Growth18%19%24%18%
Gross Profit Growth(15%)18%26%(15%)
EBITDA Growth39%99%57%97%
EBIT Growth56%507%180%112%
Net Profit Growth178%(12%)24%178%
FCF Growth(17%)14%158%(17%)

Data powered by FactSet, Inc. and Morningstar, Inc.

Trustpilot Group Operational KPIs

Trustpilot Group's revenue per employee in the last FY averaged $0.3M, while opex per employee averaged $0.2M for the same period.

Trustpilot Group's Rule of 40 is 36% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Trustpilot Group's Rule of X is 63% (created by Bessemer, Rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

Access forward-looking KPIs for Trustpilot Group
LTMLast FY202320242025202620272028
Rule of 4034%36%---
Bessemer Rule of X60%63%---
Revenue per Employee-$0.3M---
Opex per Employee-$0.2M---
S&M Expenses to Revenue27%27%29%27%27%
G&A Expenses to Revenue22%23%25%24%23%
R&D Expenses to Revenue25%26%--26%
Opex to Revenue-76%82%78%76%

Data powered by FactSet, Inc. and Morningstar, Inc.

Valuation Multiples Across 230+ Verticals

Trustpilot Group Competitors

Trustpilot Group competitors include Mony Group, Yelp, USA TODAY, LegalZoom, Taboola, Alma Media, Moltiply Group, New Guomai Digital, SMZDM.com and Shanghai Ganglian.

Most Trustpilot Group public comparables operate across Online Content & News and Lead Generation.

EV/RevenueEV/EBITDA
Last FYLTM2027ELast FYLTM2027E
Mony Group2.1x2.1x6.5x6.5x
Yelp0.9x0.9x3.6x3.8x
USA TODAY1.0x1.0x8.5x8.2x
LegalZoom1.3x1.2x5.7x5.4x
Taboola0.7x0.7x6.3x6.1x
Alma Media3.8x3.8x12.4x12.1x
Moltiply Group2.2x2.2x8.6x8.2x
New Guomai Digital4.4x-57.6x-

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Trustpilot Group VC Funding History

Before going public, Trustpilot Group raised $160M in total equity funding, across 4 rounds.


Trustpilot Group Funding Rounds

DateStageRaised FromRaisedValuationRev. MultipleDeal Summary
Mar-19Series EAdvent International; Danish Business Angels; Index Ventures; Molten Ventures; Northzone; PSV; Seed Capital; Silicon Valley Bank UK; Sunley House Capital Management; Vitruvian Partners$55M--
Jan-17Series AMolten Ventures$7M-Trustpilot is a global, multi-language online review platform founded in 2007, where consumers leave reviews of merchants and products. The company operates a SaaS revenue model with customer presence across 65 countries including Denmark, Sweden, the UK, France, Italy, Germany, the Netherlands, and the US, maintaining offices in New York, London, Denver, Copenhagen, and Melbourne. In January 2017, Molten Ventures (then known as Draper Esprit) announced an additional investment of $6.9 million (£5.5 million) in Trustpilot, doubling its equity stake in the company. This followed Molten's initial investment in 2013 and a follow-on round in 2015, bringing Molten's total cumulative investment to £11 million by January 2017. According to Molten's CEO at the time, Trustpilot had demonstrated strong SaaS revenue growth in Europe and the US over the preceding three years, with the company positioning itself to build the world's most trusted review brand through its merchant review and rating platform.
May-15Series DIndex Ventures; Molten Ventures; Northzone; Seed Capital; Vitruvian Partners$74M-Trustpilot, a Copenhagen-based review platform operating a freemium model, received $73.5 million in Series D funding in May 2015, led by Vitruvian Partners with participation from Index Ventures, Molten Ventures, Northzone, and Seed Capital. The funding aimed to expand its online retail reviews service, particularly into the U.S. market. At the end of 2014, the company employed 325 people and saw 400,000 new reviews posted monthly, with record growth including an 80% year-over-year revenue increase. Trustpilot's business model allows free review collection and responses, monetizing through subscription-based premium services and marketing tools for businesses. The platform leverages network effects in a large addressable market estimated at $55 billion across verticals and geographies. Later financials show significant scaling: revenue reached $131 million in FY21 with 24% growth, $144 million ARR, and 99% net dollar retention; by 2023, revenue was $176 million, increasing to $0.21 billion TTM as of 2024. The company achieved 11.4% adjusted EBITDA margin in 2024 with a 20% CAGR since 2020. As of June 2025, Trustpilot hosted 330 million reviews and 60 million monthly active users, employing about 1,000 people.
Jan-14Series CDanish Business Angels; Index Ventures; Molten Ventures; Northzone; Seed Capital$25M--

Investments by Trustpilot Group

Trustpilot Group has invested in 2 companies to date.

Latest investment by Trustpilot Group was on January 12th 2023. Trustpilot Group invested in Detected in their $3M Seed round (EV/Revenue multiple available to Pro users).

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Latest Investments by Trustpilot Group

Detected
loveelectric
Detected
Description
Detected is a platform that accelerates business partnerships by verifying counterparties and streamlining deal execution. Backed by Love Ventures and Thomson Reuters Ventures, it offers diligence tools, contract analysis, and collaboration features for joint ventures and alliances. New York-headquartered, Detected serves enterprises in technology and finance seeking faster, low-risk collaborations.
Loveelectric is a UK vehicle leasing company specializing in salary sacrifice schemes for electric cars. It supplies models like the Fiat 500e, MG4, and Volkswagen ID.3 through employer partnerships where employees benefit from tax savings on leases. The Oxford-based firm handles fleet management, home charging installations, and nationwide delivery.
Detected is a platform that accelerates business partnerships by verifying counterparties and streamlining deal execution. Backed by Love Ventures and Thomson Reuters Ventures, it offers diligence tools, contract analysis, and collaboration features for joint ventures and alliances. New York-headquartered, Detected serves enterprises in technology and finance seeking faster, low-risk collaborations.
HQ CountryUnited KingdomUnited KingdomUnited Kingdom
HQ City
London
Edinburgh
London
Deal Date12 Jan 20234 Nov 202224 Nov 2020
RoundSeedSeedSeed
Raised$3M$1M$1M
InvestorsEmergeVest; Huw Slater; Love Ventures; Maropost Ventures; Rob Barnett; Trustpilot Group; Thomson Reuters VenturesBill Dobbie; Marchmont Ventures; Trustpilot Group; Techstart VenturesEmergeVest; Mark Brammer; Trustpilot Group; Vinay Patel
Valuationundisclosed$7Mundisclosed
EV/Revenue
EV/EBITDA

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About Trustpilot Group

When was Trustpilot Group founded?Trustpilot Group was founded in 2007.
Where is Trustpilot Group headquartered?Trustpilot Group is headquartered in United Kingdom.
How many employees does Trustpilot Group have?As of today, Trustpilot Group has over 988 employees.
Who is the CEO of Trustpilot Group?Trustpilot Group's CEO is Adrian Peter Blair.
Is Trustpilot Group publicly listed?Yes, Trustpilot Group is a public company listed on London Stock Exchange.
What is the stock symbol of Trustpilot Group?Trustpilot Group trades under TRST ticker.
When did Trustpilot Group go public?Trustpilot Group went public in 2021.
Who are competitors of Trustpilot Group?Trustpilot Group main competitors include Mony Group, Yelp, USA TODAY, LegalZoom, Taboola, Alma Media, Moltiply Group, New Guomai Digital, SMZDM.com, Shanghai Ganglian.
What is the current market cap of Trustpilot Group?Trustpilot Group's current market cap is $1B.
What is the current revenue of Trustpilot Group?Trustpilot Group's last 12 months revenue is $281M.
What is the current revenue growth of Trustpilot Group?Trustpilot Group revenue growth (NTM/LTM) is 17%.
What is the current EV/Revenue multiple of Trustpilot Group?Current revenue multiple of Trustpilot Group is 4.3x.
What is the current EBITDA of Trustpilot Group?Trustpilot Group's last 12 months EBITDA is $46M.
What is Trustpilot Group's EBITDA margin?Trustpilot Group's last 12 months EBITDA margin is 16%.
What is the current EV/EBITDA multiple of Trustpilot Group?Current EBITDA multiple of Trustpilot Group is 26.5x.
What is the current FCF of Trustpilot Group?Trustpilot Group's last 12 months FCF is $43M.
What is Trustpilot Group's FCF margin?Trustpilot Group's last 12 months FCF margin is 15%.
What is the current EV/FCF multiple of Trustpilot Group?Current FCF multiple of Trustpilot Group is 28.6x.
How many companies Trustpilot Group has acquired to date?Trustpilot Group hasn't acquired any companies yet (or none have been disclosed publicly).
In how many companies Trustpilot Group has invested to date?As of June 2026, Trustpilot Group has invested in 2 companies.
What was the last Trustpilot Group investment?On 12th January 2023 Trustpilot Group invested in Detected, participating in a $3M Seed round, alongside EmergeVest, Huw Slater, Love Ventures, Maropost Ventures, Rob Barnett, and Thomson Reuters Ventures.
In what companies Trustpilot Group invested in?Trustpilot Group invested in Detected and loveelectric.

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