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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.
2006
4.3K+
LTM Revenue $1.1B
LTM EBITDA $361M
$14.8B
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
Xero has a last 12-month revenue of $1.1B and a last 12-month EBITDA of $361M.
In the most recent fiscal year, Xero achieved revenue of $988M and an EBITDA of $321M.
Xero expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Xero valuation multiples based on analyst estimates| FY 2023 | FY 2024 | FY 2025 | LTM | NTM | |
|---|---|---|---|---|---|
| Revenue | $824M | $988M | XXX | XXX | XXX |
| Gross Profit | $641M | $824M | XXX | XXX | XXX |
| Gross Margin | 78% | 83% | XXX | XXX | XXX |
| EBITDA | $106M | $321M | XXX | XXX | XXX |
| EBITDA Margin | 13% | 33% | XXX | XXX | XXX |
| Net Profit | -$5.3M | -$66.8M | XXX | XXX | XXX |
| Net Margin | -1% | -7% | XXX | XXX | XXX |
| Net Debt | $281M | n/a | XXX | XXX | XXX |
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As of April 15, 2025, Xero's stock price is AUD 159 (or $100).
Xero has current market cap of AUD 24.3B (or $15.3B), and EV of AUD 23.6B (or $14.8B).
See Xero trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $14.8B | $15.3B | XXX | XXX | XXX | XXX | $0.97 |
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Sign UpAs of April 15, 2025, Xero has market cap of $15.3B and EV of $14.8B.
Xero's trades at 11.9x LTM EV/Revenue multiple, and 37.4x LTM EBITDA.
Analysts estimate Xero's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See valuation multiples for Xero and 10K+ public comps| FY 2024 | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|
| EV | $14.8B | XXX | XXX | XXX |
| EV/Revenue | 12.7x | XXX | XXX | XXX |
| EV/EBITDA | 39.6x | XXX | XXX | XXX |
| P/E | 115.1x | XXX | XXX | XXX |
| P/E/Growth | 2.7x | XXX | XXX | XXX |
| EV/FCF | 65.5x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Sign UpXero's NTM/LTM revenue growth is 20%
Xero's revenue per employee for the last fiscal year averaged $0.2M, while opex per employee averaged $0.2M for the same period.
Over next 12 months, Xero's ratio of sales and marketing spend to revenue is estimated to be XXX , while its R&D spend to revenue to be XXX .
Analysts estimate Xero's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See operational valuation multiples for Xero and other 10K+ public comps| FY 2024 | NTM | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|---|
| Revenue Growth | 20% | XXX | XXX | XXX | XXX |
| EBITDA Margin | 32% | XXX | XXX | XXX | XXX |
| EBITDA Growth | 204% | XXX | XXX | XXX | XXX |
| Rule of 40 (SaaS-only) | 52% | XXX | XXX | XXX | XXX |
| Revenue per Employee | $0.2M | XXX | XXX | XXX | XXX |
| Opex per Employee | $0.2M | XXX | XXX | XXX | XXX |
| S&M Expenses to Revenue | 14% | XXX | XXX | XXX | XXX |
| G&A Expenses to Revenue | 41% | XXX | XXX | XXX | XXX |
| R&D Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| Opex to Revenue | 85% | XXX | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| Cape Range | XXX | XXX | XXX | XXX | XXX | XXX |
| Credit Clear | XXX | XXX | XXX | XXX | XXX | XXX |
| IODM | XXX | XXX | XXX | XXX | XXX | XXX |
| Reckon | XXX | XXX | XXX | XXX | XXX | XXX |
| Zaggle | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
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Xero acquired XXX companies to date.
Last acquisition by Xero was XXXXXXXX, XXXXX XXXXX XXXXXX . Xero acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| 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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Sign Up| When was Xero founded? | Xero was founded in 2006. |
| Where is Xero headquartered? | Xero is headquartered in Australia. |
| How many employees does Xero have? | As of today, Xero has 4.3K+ employees. |
| Is Xero publicy listed? | Yes, Xero is a public company listed on ASX. |
| What is the stock symbol of Xero? | Xero trades under XRO ticker. |
| When did Xero go public? | Xero went public in 2012. |
| Who are competitors of Xero? | Similar companies to Xero include e.g. Cape Range, Credit Clear, IODM, Reckon. |
| What is the current market cap of Xero? | Xero's current market cap is $15.3B |
| What is the current revenue of Xero? | Xero's last 12-month revenue is $1.1B. |
| What is the current EBITDA of Xero? | Xero's last 12-month EBITDA is $361M. |
| What is the current EV/Revenue multiple of Xero? | Current revenue multiple of Xero is 11.9x. |
| What is the current EV/EBITDA multiple of Xero? | Current EBITDA multiple of Xero is 37.4x. |
| What is the current revenue growth of Xero? | Xero revenue growth between 2023 and 2024 was 20%. |
| Is Xero profitable? | Yes, Xero is EBITDA-positive (as of the last 12 months). |
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