VersaBank - Public Comps and Valuation Multiples

VersaBank Overview

About VersaBank

VersaBank is a Schedule I Canadian bank that provides mainly commercial lending and banking services to select niche markets in Canada and the United States. Its products and services include credit assets, deposits, and cybersecurity services through its wholly owned subsidiary. The bank operates through four segments: Digital Banking Canada and Digital Banking USA, both using a business-to-business model with proprietary financial technology to serve underserved markets; DRTC, which provides cybersecurity services and banking and financial technology development; and Digital Meteor, which owns proprietary technology supporting next-generation digital assets, including Real Bank Deposit Tokens (RBDTs). The majority of revenue comes from Digital Banking.

Founded

2002

HQ

Employees

131

Website

versabank.com

Sectors

Neobanking
Commercial Banking
FinTech

Financials

LTM Revenue $92.0M

Last FY EBITDA n/a

EV

$576M

Valuation Multiples

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VersaBank Financials

As of December 2025, VersaBank reported last 12-month revenue of $92.0M.

In the same period, VersaBank achieved $24.2M in LTM net income.

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VersaBank P&L

In the most recent fiscal year, VersaBank reported revenue of $89.5M.

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

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	LTM	NTM	Last FY	FY 2026	FY 2027	FY 2028
Revenue	$92.0M	XXX	$89.5M	XXX	XXX	XXX
Gross Profit	n/a	XXX	n/a	XXX	XXX	XXX
Gross Margin	n/a	XXX	n/a	XXX	XXX	XXX
EBITDA	n/a	XXX	n/a	XXX	XXX	XXX
EBITDA Margin	n/a	XXX	n/a	XXX	XXX	XXX
EBIT	$36.2M	XXX	n/a	XXX	XXX	XXX
EBIT Margin	39%	XXX	n/a	XXX	XXX	XXX
Net Profit	$24.2M	XXX	$20.4M	XXX	XXX	XXX
Net Margin	26%	XXX	23%	XXX	XXX	XXX
Net Debt	XXX	XXX	n/a	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for VersaBank including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $92.0M.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2026)	Next Fiscal Year (2027)	Two Years Forward (2028)
Total Revenue	$92.0M	Analyst estimates available to subscribers	$89.5M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	n/a	Analyst estimates available to subscribers	n/a	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	n/a	Analyst estimates available to subscribers	NaN% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	n/a	Analyst estimates available to subscribers	n/a	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	n/a	Analyst estimates available to subscribers	NaN% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$36.2M	Analyst estimates available to subscribers	n/a	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	39.3% EBIT margin	Analyst estimates available to subscribers	n/a	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$24.2M	Analyst estimates available to subscribers	$20.4M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	26.3% net profit margin	Analyst estimates available to subscribers	22.8% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	n/a	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for VersaBank

This financial data table provides comprehensive performance metrics for VersaBank, a company based in Canada. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

VersaBank generated $92.0M in revenue over the last twelve months.
Net income over the last twelve months reached $24.2M.

Fiscal Year Performance

In the most recent fiscal year, VersaBank reported $89.5M in total revenue.
The company maintained a gross profit margin of NaN% in the most recent fiscal year.
EBITDA margin for the fiscal year was NaN%.
Net profit margin reached 22.8% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for VersaBank. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

VersaBank Stock Performance

VersaBank has current market cap of CAD 694M (or $498M), and EV of CAD 802M (or $576M).

Market Cap Evolution

VersaBank Stock Data

As of January 19, 2026, VersaBank's stock price is CAD 22 (or $16).

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$576M	$498M	XXX	XXX	XXX	XXX	$0.92

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VersaBank Valuation Multiples

VersaBank's trades at 6.3x EV/Revenue multiple, and n/a EV/EBITDA.

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VersaBank Financial Valuation Multiples

As of January 19, 2026, VersaBank has market cap of $498M and EV of $576M.

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

VersaBank has a P/E ratio of 20.5x.

	LTM	NTM	Last FY	FY 2026	FY 2027	FY 2028
Market cap (current)	$498M	XXX	$498M	XXX	XXX	XXX
EV (current)	$576M	XXX	$576M	XXX	XXX	XXX
EV/Revenue	6.3x	XXX	6.3x	XXX	XXX	XXX
EV/EBITDA	n/a	XXX	n/a	XXX	XXX	XXX
EV/EBIT	15.9x	XXX	n/a	XXX	XXX	XXX
EV/Gross Profit	n/a	XXX	n/a	XXX	XXX	XXX
P/E	20.5x	XXX	20.6x	XXX	XXX	XXX
EV/FCF	n/a	XXX	3.7x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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VersaBank Margins & Growth Rates

VersaBank's last 12 month revenue growth is 22%

VersaBank's revenue per employee in the last FY averaged $0.7M, while opex per employee averaged n/a for the same period.

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

VersaBank's rule of X is unknown (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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VersaBank Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2026	FY 2027	FY 2028
Revenue Growth	22%	XXX	n/a	XXX	XXX	XXX
EBITDA Margin	n/a	XXX	n/a	XXX	XXX	XXX
EBITDA Growth	n/a	XXX	n/a	XXX	XXX	XXX
Rule of 40	n/a	XXX	n/a	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	n/a	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.7M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	n/a	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	n/a	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	n/a	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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