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Tuya Valuation Multiples

Discover revenue and EBITDA valuation multiples for Tuya and similar public comparables like Bee Smart Technologies, MapmyIndia, and Tanla Platforms.

Tuya Overview

About Tuya

Tuya Inc is an AI cloud platform service provider dedicated to bringing AI into everyday life. The group leverages its TuyaOpen open-source framework and universal AI Agent engines, including the AI Agent development platform, to integrate multimodal AI capabilities and reduce barriers to AI development. It drives the adoption of AI-powered lifestyles and speeds up the integration of AI with the physical world. It offers innovative physical AI solutions for smart devices, commercial use, and industry developers using cloud computing and spatial intelligence. It also provides a complete, open, and neutral global AIoT ecosystem. It builds a developer community that collaborates to create smart solutions grounded in sustainability, security, efficiency, agility, and openness.


Founded

2014

HQ

United States of America
Employees

1.4K+

Website

tuya.com

Sectors

IoT

Financials

LTM Revenue $318M

LTM EBITDA $5.6M

EV

$520M

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Tuya Financials

As of September 2025, Tuya reported last 12-month revenue of $318M and EBITDA of $5.6M.

In the same period, Tuya generated $153M in LTM gross profit and $37.3M in net income.

See Tuya valuation multiples based on analyst estimates

Tuya P&L

In the most recent fiscal year, Tuya reported revenue of $299M and EBITDA of -$42.6M.

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

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LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $318M XXX $299M XXX XXX XXX
Gross Profit $153M XXX $141M XXX XXX XXX
Gross Margin 48% XXX 47% XXX XXX XXX
EBITDA $5.6M XXX -$42.6M XXX XXX XXX
EBITDA Margin 2% XXX -14% XXX XXX XXX
EBIT -$5.6M XXX -$47.6M XXX XXX XXX
EBIT Margin -2% XXX -16% XXX XXX XXX
Net Profit $37.3M XXX $5.0M XXX XXX XXX
Net Margin 12% XXX 2% XXX XXX XXX
Net Debt XXX XXX n/a XXX XXX XXX

Financial data powered by Morningstar, Inc.

Tuya Stock Performance

Tuya has current market cap of $1.4B, and EV of $520M.

Market Cap Evolution

Tuya Stock Data

As of October 17, 2025, Tuya's stock price is $2.

See Tuya trading valuation data
EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$520M $1.4B XXX XXX XXX XXX $0.10

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Tuya Valuation Multiples

Tuya's trades at 1.7x EV/Revenue multiple, and -12.2x EV/EBITDA.

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Tuya Financial Valuation Multiples

As of October 17, 2025, Tuya has market cap of $1.4B and EV of $520M.

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

Tuya has a P/E ratio of 36.2x.

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $1.4B XXX $1.4B XXX XXX XXX
EV (current) $520M XXX $520M XXX XXX XXX
EV/Revenue 1.6x XXX 1.7x XXX XXX XXX
EV/EBITDA 92.8x XXX -12.2x XXX XXX XXX
EV/EBIT -92.7x XXX -10.9x XXX XXX XXX
EV/Gross Profit 3.4x XXX n/a XXX XXX XXX
P/E 36.2x XXX 270.2x XXX XXX XXX
EV/FCF n/a XXX 7.7x XXX XXX XXX

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Tuya Margins & Growth Rates

Tuya's last 12 month revenue growth is 12%

Tuya's revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $0.1M for the same period.

Tuya's rule of 40 is -32% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Tuya's rule of X is 31% (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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Tuya Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 12% XXX 10% XXX XXX XXX
EBITDA Margin 2% XXX -14% XXX XXX XXX
EBITDA Growth 332% XXX n/a XXX XXX XXX
Rule of 40 -32% XXX -3% XXX XXX XXX
Bessemer Rule of X XXX XXX 31% XXX XXX XXX
Revenue per Employee XXX XXX $0.2M XXX XXX XXX
Opex per Employee XXX XXX $0.1M XXX XXX XXX
S&M Expenses to Revenue XXX XXX 12% XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX 32% XXX XXX XXX
Opex to Revenue XXX XXX 63% XXX XXX XXX

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Tuya Public Comps

See public comps and valuation multiples for IoT comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
TKH Group XXX XXX XXX XXX XXX XXX
Tanla Platforms XXX XXX XXX XXX XXX XXX
MapmyIndia XXX XXX XXX XXX XXX XXX
Bee Smart Technologies XXX XXX XXX XXX XXX XXX
Pyramid XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Tuya M&A and Investment Activity

Tuya acquired  XXX companies to date.

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

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Latest Acquisitions by Tuya

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 Tuya

When was Tuya founded? Tuya was founded in 2014.
Where is Tuya headquartered? Tuya is headquartered in United States of America.
How many employees does Tuya have? As of today, Tuya has 1.4K+ employees.
Who is the CEO of Tuya? Tuya's CEO is Mr. Xueji Wang.
Is Tuya publicy listed? Yes, Tuya is a public company listed on NYS.
What is the stock symbol of Tuya? Tuya trades under TUYA ticker.
When did Tuya go public? Tuya went public in 2021.
Who are competitors of Tuya? Similar companies to Tuya include e.g. TKH Group, Tanla Platforms, MapmyIndia, Bee Smart Technologies.
What is the current market cap of Tuya? Tuya's current market cap is $1.4B
What is the current revenue of Tuya? Tuya's last 12 months revenue is $318M.
What is the current revenue growth of Tuya? Tuya revenue growth (NTM/LTM) is 12%.
What is the current EV/Revenue multiple of Tuya? Current revenue multiple of Tuya is 1.6x.
Is Tuya profitable? Yes, Tuya is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of Tuya? Tuya's last 12 months EBITDA is $5.6M.
What is Tuya's EBITDA margin? Tuya's last 12 months EBITDA margin is 2%.
What is the current EV/EBITDA multiple of Tuya? Current EBITDA multiple of Tuya is 92.8x.

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