Xero - Public Comps and Valuation Multiples

Xero Overview

About Xero

Xero is a technology company originating from New Zealand, providing cloud-based accounting software, primarily for small and midsize enterprises, or SMEs, and accounting practices. As a first mover in the space for cloud-based accounting software, Xero has grown quickly to achieve dominant market share in New Zealand and Australia, displacing legacy providers. Xero has also expanded beyond its home region toward other English-speaking countries, primarily the United Kingdom and the United States.

Founded

2006

HQ

Employees

4.6K+

Website

xero.com

Sectors

Financial Management Software
FinTech
B2B SaaS
Horizontal SaaS

Financials

LTM Revenue $1.2B

LTM EBITDA $363M

EV

$15.4B

Valuation Multiples

Multiples.vc

Valuation Multiples for 15K+ Public Comps

Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.

Browse Valuation Multiples

Xero Financials

As of October 2025, Xero reported last 12-month revenue of $1.2B and EBITDA of $363M.

In the same period, Xero generated $995M in LTM gross profit and $138M in net income.

See Xero valuation multiples based on analyst estimates

Xero P&L

In the most recent fiscal year, Xero reported revenue of $1.2B and EBITDA of $453M.

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

See Xero valuation multiples based on analyst estimates

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$1.2B	XXX	$1.2B	XXX	XXX	XXX
Gross Profit	$995M	XXX	$1.1B	XXX	XXX	XXX
Gross Margin	80%	XXX	89%	XXX	XXX	XXX
EBITDA	$363M	XXX	$453M	XXX	XXX	XXX
EBITDA Margin	29%	XXX	36%	XXX	XXX	XXX
EBIT	$196M	XXX	$44.8M	XXX	XXX	XXX
EBIT Margin	16%	XXX	4%	XXX	XXX	XXX
Net Profit	$138M	XXX	$135M	XXX	XXX	XXX
Net Margin	11%	XXX	11%	XXX	XXX	XXX
Net Debt	XXX	XXX	$272M	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

.seo-only-financials-wrapper { position: static; left: auto; width: auto; height: auto; overflow: visible; }

Financial performance metrics for Xero including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $1.2B. EBITDA for the last twelve months was $363M. In the most recent fiscal year, Xero achieved $1.2B in revenue and $453M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$1.2B	Analyst estimates available to subscribers	$1.2B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$995M	Analyst estimates available to subscribers	$1.1B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	80.2% gross margin	Analyst estimates available to subscribers	89.0% 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)	$363M	Analyst estimates available to subscribers	$453M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	29.3% EBITDA margin	Analyst estimates available to subscribers	36.5% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$196M	Analyst estimates available to subscribers	$44.8M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	15.8% EBIT margin	Analyst estimates available to subscribers	3.6% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$138M	Analyst estimates available to subscribers	$135M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	11.2% net profit margin	Analyst estimates available to subscribers	10.8% 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	$272M	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Xero

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

Recent Performance Highlights

Xero generated $1.2B in revenue over the last twelve months.
The company achieved $363M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $995M.
Net income over the last twelve months reached $138M.

Fiscal Year Performance

In the most recent fiscal year, Xero reported $1.2B in total revenue.
Fiscal year EBITDA was $453M.
The company maintained a gross profit margin of 89.0% in the most recent fiscal year.
EBITDA margin for the fiscal year was 36.5%.
Net profit margin reached 10.8% in the most recent fiscal year.

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

Xero Stock Performance

Xero has current market cap of AUD 24.6B (or $16.0B), and EV of AUD 23.7B (or $15.4B).

Market Cap Evolution

Xero Stock Data

As of November 3, 2025, Xero's stock price is AUD 146 (or $95).

See Xero trading valuation data

EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$15.4B	$16.0B	XXX	XXX	XXX	XXX	$0.99

Benchmark Trading Valuation Multiples by Industry

Sign up to access valuation multiples like growth-adjusted P/E, next 12-month EV/Revenue, EBITDA multiples by industry and many more

Start Free Trial

Xero Valuation Multiples

Xero's trades at 13.0x EV/Revenue multiple, and 36.5x EV/EBITDA.

See valuation multiples for Xero and 15K+ public comps

Xero Financial Valuation Multiples

As of November 3, 2025, Xero has market cap of $16.0B and EV of $15.4B.

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

Xero has a P/E ratio of 102.1x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$16.0B	XXX	$16.0B	XXX	XXX	XXX
EV (current)	$15.4B	XXX	$15.4B	XXX	XXX	XXX
EV/Revenue	11.0x	XXX	13.0x	XXX	XXX	XXX
EV/EBITDA	37.4x	XXX	36.5x	XXX	XXX	XXX
EV/EBIT	69.2x	XXX	213.6x	XXX	XXX	XXX
EV/Gross Profit	13.7x	XXX	n/a	XXX	XXX	XXX
P/E	102.1x	XXX	126.1x	XXX	XXX	XXX
EV/FCF	967.6x	XXX	53.9x	XXX	XXX	XXX

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

Get Xero Valuation Multiples

Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.

Start Free Trial

Xero Margins & Growth Rates

Xero's last 12 month revenue growth is 29%

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

Xero's rule of 40 is 64% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Xero's rule of X is 101% (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).

See operational valuation multiples for Xero and other 15K+ public comps

Xero Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	29%	XXX	26%	XXX	XXX	XXX
EBITDA Margin	29%	XXX	36%	XXX	XXX	XXX
EBITDA Growth	19%	XXX	10%	XXX	XXX	XXX
Rule of 40	64%	XXX	64%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	101%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.3M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.2M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	32%	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	85%	XXX	XXX	XXX

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

Valuation Multiples Across 220+ Verticals

Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!

Digital Therapeutics

Pharma Analytics

Private Equity

ERP Software

Developer Tools

Consumer SaaS

Streaming Platforms

Explore Valuation Multiples by Industry

Start Free Trial