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Waterdrop Valuation Multiples

Discover revenue and EBITDA valuation multiples for Waterdrop and similar public comparables like BB Seguros, PB Fintech, and Steadfast Group.

Waterdrop Overview

About Waterdrop

Waterdrop Inc is a technology platform dedicated to insurance and healthcare service. The Company is mainly engaged in operating an independent third-party insurance platform dedicated to providing insurance and healthcare service. The Company’s main businesses are the insurance marketplace, medical crowdfunding, and mutual aid. The insurance marketplace business is collaborated with insurance carriers to offer health and life insurance products to ensure a smooth and friendly user experience throughout the process from underwriting to claim services. The medical crowdfunding business enabled people with medical costs.


Founded

2018

HQ

United States of America
Employees

3.1K+

Financials

LTM Revenue $57.0M

LTM EBITDA $5.3M

EV

$198M

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Waterdrop Financials

Waterdrop has a last 12-month revenue (LTM) of $57.0M and a last 12-month EBITDA of $5.3M.

In the most recent fiscal year, Waterdrop achieved revenue of $2.8B and an EBITDA of $190M.

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

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Waterdrop P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $57.0M XXX $2.8B XXX XXX XXX
Gross Profit $57.0M XXX $1.2B XXX XXX XXX
Gross Margin 100% XXX 42% XXX XXX XXX
EBITDA $5.3M XXX $190M XXX XXX XXX
EBITDA Margin 9% XXX 7% XXX XXX XXX
EBIT $4.8M XXX $178M XXX XXX XXX
EBIT Margin 8% XXX 6% XXX XXX XXX
Net Profit $6.7M XXX $368M XXX XXX XXX
Net Margin 12% XXX 13% XXX XXX XXX
Net Debt XXX XXX n/a XXX XXX XXX

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Waterdrop Stock Performance

As of May 30, 2025, Waterdrop's stock price is $1.

Waterdrop has current market cap of $524M, and EV of $198M.

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Waterdrop Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$198M $524M XXX XXX XXX XXX $0.04

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Waterdrop Valuation Multiples

As of May 30, 2025, Waterdrop has market cap of $524M and EV of $198M.

Waterdrop's trades at 0.1x EV/Revenue multiple, and 1.0x EV/EBITDA.

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

Waterdrop has a P/E ratio of 10.9x.

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Waterdrop Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $524M XXX $524M XXX XXX XXX
EV (current) $198M XXX $198M XXX XXX XXX
EV/Revenue 0.5x XXX 0.1x XXX XXX XXX
EV/EBITDA 5.2x XXX 1.0x XXX XXX XXX
EV/EBIT 5.7x XXX 1.1x XXX XXX XXX
EV/Gross Profit 0.5x XXX n/a XXX XXX XXX
P/E 10.9x XXX 1.4x XXX XXX XXX
EV/FCF n/a XXX 0.9x XXX XXX XXX

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Waterdrop Margins & Growth Rates

Waterdrop's last 12 month revenue growth is 15%

Waterdrop's revenue per employee in the last FY averaged $0.9M, while opex per employee averaged $0.3M for the same period.

Waterdrop's rule of 40 is 15% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Waterdrop's rule of X is 46% (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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Waterdrop Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 15% XXX -58% XXX XXX XXX
EBITDA Margin 9% XXX 7% XXX XXX XXX
EBITDA Growth 21% XXX 146% XXX XXX XXX
Rule of 40 15% XXX 22% XXX XXX XXX
Bessemer Rule of X XXX XXX 46% XXX XXX XXX
Revenue per Employee XXX XXX $0.9M XXX XXX XXX
Opex per Employee XXX XXX $0.3M XXX XXX XXX
S&M Expenses to Revenue XXX XXX 14% XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX 8% XXX XXX XXX
Opex to Revenue XXX XXX 35% XXX XXX XXX

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Waterdrop Public Comps

See public comps and valuation multiples for Insurance Brokers and Insurance Carriers comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
AUB Group XXX XXX XXX XXX XXX XXX
Steadfast Group XXX XXX XXX XXX XXX XXX
PB Fintech XXX XXX XXX XXX XXX XXX
BB Seguros XXX XXX XXX XXX XXX XXX
Caixa Seguridade XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Waterdrop M&A and Investment Activity

Waterdrop acquired  XXX companies to date.

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

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Latest Acquisitions by Waterdrop

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 Waterdrop

When was Waterdrop founded? Waterdrop was founded in 2018.
Where is Waterdrop headquartered? Waterdrop is headquartered in United States of America.
How many employees does Waterdrop have? As of today, Waterdrop has 3.1K+ employees.
Who is the CEO of Waterdrop? Waterdrop's CEO is Mr. Peng Shen.
Is Waterdrop publicy listed? Yes, Waterdrop is a public company listed on NYS.
What is the stock symbol of Waterdrop? Waterdrop trades under WDH ticker.
When did Waterdrop go public? Waterdrop went public in 2021.
Who are competitors of Waterdrop? Similar companies to Waterdrop include e.g. AUB Group, Steadfast Group, PB Fintech, BB Seguros.
What is the current market cap of Waterdrop? Waterdrop's current market cap is $524M
What is the current revenue of Waterdrop? Waterdrop's last 12 months revenue is $57.0M.
What is the current revenue growth of Waterdrop? Waterdrop revenue growth (NTM/LTM) is 15%.
What is the current EV/Revenue multiple of Waterdrop? Current revenue multiple of Waterdrop is 0.5x.
Is Waterdrop profitable? Yes, Waterdrop is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of Waterdrop? Waterdrop's last 12 months EBITDA is $5.3M.
What is Waterdrop's EBITDA margin? Waterdrop's last 12 months EBITDA margin is 9%.
What is the current EV/EBITDA multiple of Waterdrop? Current EBITDA multiple of Waterdrop is 5.2x.

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