Zabka Valuation Multiples

Discover Zabka's revenue and EBITDA valuation multiples, acquisitions, and investment history, alongside public comparables like Dino Polska, El Puerto de Liverpool, Sprouts Farmers Market, BİM and more.

Zabka Overview

About Zabka

Zabka Group provides the ultimate convenience ecosystem. It has three basic business units: Zabka Polska focuses on retail activities for the operational and commercial aspects of the business, including the running and development of the modern physical convenience store network and the nationwide logistics network, Zabka International is responsible for the development of new markets and supervises the implementation of the foreign expansion, and Zabka Future is responsible for accelerating the creation of a digital convenience ecosystem with synergies between its parts and ensuring optimal technology for the multi-directional development of Group. It also includes Maczfit, which is a direct-to-consumer meal provider.


Founded

1998

HQ

Poland

Employees

4.1K

Financials (LTM)

Revenue: $8B
EBITDA: $1.2B

EV

$11B

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Zabka Financials

Zabka reported last 12-month revenue of $8B and EBITDA of $1.2B.

In the same LTM period, Zabka generated $1.6B in gross profit, $1.2B in EBITDA, and $306M in net income.

Revenue (LTM)


Zabka P&L

In the most recent fiscal year, Zabka reported revenue of $7.3B and EBITDA of $1B.

Zabka is profitable as of last fiscal year, with gross margin of 19%, EBITDA margin of 14%, and net margin of 4%.

See analyst estimates for Zabka
LTMLast FY202320242025202620272028
Revenue$8B$7.3B$5.3B$6.4B$7.3B
Gross Profit$1.6B$1.4B$949M$1.2B$1.4B
Gross Margin20%19%18%18%19%
EBITDA$1.2B$1B$757M$937M$1B
EBITDA Margin15%14%14%15%14%
EBIT Margin8%7%7%7%7%
Net Profit$306M$296M$95M$168M$296M
Net Margin4%4%2%3%4%
Net Debt-$824M---

Financial data powered by Morningstar, Inc.

Zabka Stock Performance

Zabka has current market cap of $8.4B, and enterprise value of $11B.

Market Cap Evolution


Zabka's stock price is $8.46.

Zabka share price decreased by 0.7% in the last 30 days, and increased by 43.2% in the last year.

Zabka has an EPS (earnings per share) of $0.30.

See more trading valuation data for Zabka
EVMarket CapPrice 1DPrice 1MPrice 3MPrice 12MEPS
$11B$8.4B-0.0%-0.7%19.8%43.2%$0.30

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Zabka Valuation Multiples

Zabka trades at 1.3x EV/Revenue multiple, and 9.0x EV/EBITDA.

See NTM and 2027E valuation multiples for Zabka

EV / Revenue (LTM)


Zabka Financial Valuation Multiples

As of August 13, 2026, Zabka has market cap of $8.4B and EV of $11B.

Zabka has a P/E ratio of 27.6x.

LTMLast FY202320242025202620272028
EV/Revenue1.3x1.4x2.0x1.7x1.4x
EV/EBITDA9.0x10.1x14.0x11.3x10.1x
EV/EBIT17.4x19.9x28.6x23.5x19.9x
EV/Gross Profit6.7x7.7x11.1x9.0x7.7x
P/E27.6x28.5x88.8x50.3x28.5x
EV/FCF21.8x15.8x55.7x17.4x15.8x

Multiples above and below 250x are considered non-meaningful (n/m). Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Zabka Margins & Growth Rates

Zabka grew revenue by 15% and EBITDA by 17% in the last fiscal year.

In the most recent fiscal year, Zabka reported gross margin of 19%, EBITDA margin of 14%, and net margin of 4%.

See estimated margins and future growth rates for Zabka

Zabka Margins

Last FY202420252026202720282029
Gross Margin19%18%19%20%
EBITDA Margin14%15%14%15%
EBIT Margin7%7%7%8%
Net Margin4%3%4%4%
FCF Margin9%10%9%6%

Zabka Growth Rates

FY+1/FY23/2424/2525/2626/2727/2828/29
Revenue Growth15%20%14%15%
Gross Profit Growth24%24%16%24%
EBITDA Growth17%24%12%17%
EBIT Growth21%21%18%21%
Net Profit Growth9%76%76%9%
FCF Growth(27%)220%10%(27%)

Data powered by FactSet, Inc. and Morningstar, Inc.

Zabka Operational KPIs

Zabka's revenue per employee in the last FY averaged $1.8M, while opex per employee averaged $0.2M for the same period.

Zabka's Rule of 40 is 29% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Zabka's Rule of X is 51% (created by Bessemer, Rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

Access forward-looking KPIs for Zabka
LTMLast FY202320242025202620272028
Rule of 4028%29%---
Bessemer Rule of X48%51%---
Revenue per Employee-$1.8M---
Opex per Employee-$0.2M---
S&M Expenses to Revenue6%1%1%1%1%
G&A Expenses to Revenue2%1%1%1%1%
R&D Expenses to Revenue-1%1%1%1%
Opex to Revenue-12%11%11%12%

Data powered by FactSet, Inc. and Morningstar, Inc.

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Zabka Competitors

Zabka competitors include Dino Polska, El Puerto de Liverpool, Sprouts Farmers Market, BİM, Pepco Group, Sainsbury's, Pricesmart, Axfood, BJ's Wholesale Club and Ollie's.

Most Zabka public comparables operate across General Merchandise.

EV/RevenueEV/EBITDA
Last FYLTM2027ELast FYLTM2027E
Dino Polska1.0x0.9x12.9x12.3x
El Puerto de Liverpool0.7x0.7x4.8x4.7x
Sprouts Farmers Market1.1x1.1x10.0x11.4x
BİM0.7x0.5x7.3x8.6x
Pepco Group1.7x1.7x9.5x8.1x
Sainsbury's0.4x0.4x6.0x5.8x
Pricesmart1.0x0.9x17.9x15.2x
Axfood0.7x0.7x8.7x8.3x

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Zabka VC Funding History

Before going public, Zabka raised $29M in total equity funding, across 1 round.


Zabka Funding Rounds

DateStageInvestorsRaisedValuationRev. MultipleDeal Summary
Jun-17Undisclosed stageEuropean Bank for Reconstruction and Development$29M-Żabka Polska, one of Poland's leading food retailers and the sixth largest with a leading modern convenience chain, had around 4,600 franchise stores operated by 3,200 entrepreneurs at the time of the EBRD investment. The European Bank for Reconstruction and Development participated with an equity investment of up to €25 million (approximately $27.8M) in May 2017 as part of the acquisition by funds managed by CVC Capital Partners from previous owner Mid Europa Partners. This Corporate Minority round supported strengthening corporate governance and green innovation through environmentally friendly investments to enhance competitiveness. The EBRD investment aligned with its transition concept for a well-functioning market economy that is integrated, competitive, inclusive, well-governed, green, and resilient. Subsequently, EBRD retained a minority stake through Żabka Group's growth, including expansion to over 10,500 stores in Poland and entry into Romania, culminating in a 2024 IPO on the Warsaw Stock Exchange where EBRD sold part of its shares. Recent financials like 2024 sales to end customers of PLN 27.3bn and adjusted EBITDA of PLN 3.5bn reflect later performance, not 2017 metrics.

Acquisitions by Zabka

Zabka has acquired 3 companies to date.

Last acquisition by Zabka was on June 3rd 2021. Zabka acquired Dietly for undisclosed valuation.

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Latest Acquisitions by Zabka

Dietly
Maczfit
Kefirek S A
Description
Dietly is a Polish platform comparing dietary catering options across cities like Warsaw, Łódź, Kraków, and Poznań. Its search engine applies filters for preferences such as slimming diets or lactose-free plans to match user needs with delivery services.
Maczfit is a Warsaw-based meal delivery service offering customized diet plans for diabetics, gluten-intolerant individuals, and fitness enthusiasts. The company prepares over 20,000 meals daily using fresh Polish ingredients, with options like low-carb keto and post-workout menus delivered nationwide. Certified by dietitians, its subscription model supports caloric tracking via app and accommodates vegan and vegetarian preferences.
Kefirek S A is a supermarket chain operating multiple stores across Poland. With website kefirek.pl, it offers groceries, fresh produce, household goods, and private-label products to local communities in urban and suburban areas.
HQ CountryPolandPolandPoland
HQ City
Warsaw
Warsaw
Krakow
Deal Date3 Jun 20218 Mar 202116 Jul 2014
Valuationundisclosedundisclosedundisclosed
EV/Revenue
EV/EBITDA

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Investments by Zabka

Zabka has invested in 1 company to date.

Latest investment by Zabka was on April 27th 2021. Zabka invested in Miesna Paczka in their $1M Seed round (EV/Revenue multiple available to Pro users).

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Latest Investments by Zabka

Miesna Paczka
Description
Miesna Paczka is a Warsaw-based online meat delivery service emphasizing additive-free, antibiotic-free products without hormones or GMOs. Sourced from certified farms prioritizing animal welfare and environmental standards, the offerings include beef, pork, poultry, and charcuterie in subscription boxes. The company promotes quality over quantity, delivering vacuum-sealed fresh cuts with recipes and storage tips. Launched to counter industrialized food trends, Miesna Paczka serves Polish households seeking sustainable, health-focused proteins through nationwide shipping.
HQ CountryPoland
HQ City
Bialystok
Deal Date27 Apr 2021
RoundSeed
Raised$1M
InvestorsCofounderZone; LT Capital; Zabka
Valuationundisclosed
EV/Revenue
EV/EBITDA

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About Zabka

When was Zabka founded?Zabka was founded in 1998.
Where is Zabka headquartered?Zabka is headquartered in Poland.
How many employees does Zabka have?As of today, Zabka has over 4K employees.
Who is the CEO of Zabka?Zabka's CEO is Tomasz Suchanski.
Is Zabka publicly listed?Yes, Zabka is a public company listed on Warsaw Stock Exchange.
What is the stock symbol of Zabka?Zabka trades under ZAB ticker.
When did Zabka go public?Zabka went public in 2024.
Who are competitors of Zabka?Zabka main competitors include Dino Polska, El Puerto de Liverpool, Sprouts Farmers Market, BİM, Pepco Group, Sainsbury's, Pricesmart, Axfood, BJ's Wholesale Club, Ollie's.
What is the current market cap of Zabka?Zabka's current market cap is $8.4B.
What is the current revenue of Zabka?Zabka's last 12 months revenue is $8B.
What is the current revenue growth of Zabka?Zabka revenue growth (NTM/LTM) is 13%.
What is the current EV/Revenue multiple of Zabka?Current revenue multiple of Zabka is 1.3x.
What is the current EBITDA of Zabka?Zabka's last 12 months EBITDA is $1.2B.
What is Zabka's EBITDA margin?Zabka's last 12 months EBITDA margin is 15%.
What is the current EV/EBITDA multiple of Zabka?Current EBITDA multiple of Zabka is 9.0x.
What is the current FCF of Zabka?Zabka's last 12 months FCF is $485M.
What is Zabka's FCF margin?Zabka's last 12 months FCF margin is 6%.
What is the current EV/FCF multiple of Zabka?Current FCF multiple of Zabka is 21.8x.
How many companies Zabka has acquired to date?As of August 2026, Zabka has acquired 3 companies.
What was the largest acquisition by Zabka?None of the M&A deals Zabka has completed have disclosed valuations.
What companies Zabka acquired?Zabka acquired Dietly, Kefirek S A, and Maczfit.
In how many companies Zabka has invested to date?As of August 2026, Zabka has invested in 1 company.
What was the last Zabka investment?On 27th April 2021 Zabka invested in Miesna Paczka, participating in a $1M Seed round, alongside CofounderZone and LT Capital.
In what companies Zabka invested in?Zabka invested in Miesna Paczka.

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