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Zaggle Valuation Multiples

Discover revenue and EBITDA valuation multiples for Zaggle and similar public comparables like Reckon, IODM, and Xero.

Zaggle Overview

About Zaggle

Zaggle Prepaid Ocean Services Ltd is into spend management, with a differentiated value proposition and diversified user base. It offers a diversified portfolio of SaaS, including tax and payroll software. The company's core product portfolio includes; Propel, a SaaS platform for channel partner rewards and incentives, employee rewards and recognition; SAVE, a SaaS-based platform for employee expense management, reimbursements and benefits; and Zoyer, an integrated data driven SaaS-based procure-to-pay and utility payment platform. The company's operating segments are based on the nature of the products and services provided and include; Propel platform revenue/gift cards which derives maximum revenue, Platform fee/SaaS fee/Service fee, and Program fee.


Founded

2011

HQ

India
Employees

303

Website

zaggle.in

Financials

LTM Revenue $163M

LTM EBITDA $14.5M

EV

$605M

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Zaggle Financials

Zaggle has a last 12-month revenue (LTM) of $163M and a last 12-month EBITDA of $14.5M.

In the most recent fiscal year, Zaggle achieved revenue of $153M and an EBITDA of $16.5M.

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

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Zaggle P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $163M XXX $153M XXX XXX XXX
Gross Profit $77.4M XXX $65.3M XXX XXX XXX
Gross Margin 48% XXX 43% XXX XXX XXX
EBITDA $14.5M XXX $16.5M XXX XXX XXX
EBITDA Margin 9% XXX 11% XXX XXX XXX
EBIT n/a XXX $11.6M XXX XXX XXX
EBIT Margin n/a XXX 8% XXX XXX XXX
Net Profit $11.3M XXX $10.3M XXX XXX XXX
Net Margin 7% XXX 7% XXX XXX XXX
Net Debt XXX XXX n/a XXX XXX XXX

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Zaggle Stock Performance

As of May 30, 2025, Zaggle's stock price is INR 433 (or $5).

Zaggle has current market cap of INR 58.1B (or $681M), and EV of INR 51.7B (or $605M).

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Zaggle Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$605M $681M XXX XXX XXX XXX $0.09

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Zaggle Valuation Multiples

As of May 30, 2025, Zaggle has market cap of $681M and EV of $605M.

Zaggle's trades at 4.4x EV/Revenue multiple, and 41.1x EV/EBITDA.

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

Zaggle has a P/E ratio of 60.1x.

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Zaggle Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $681M XXX $681M XXX XXX XXX
EV (current) $605M XXX $605M XXX XXX XXX
EV/Revenue 3.7x XXX 4.4x XXX XXX XXX
EV/EBITDA 41.8x XXX 41.1x XXX XXX XXX
EV/EBIT n/a XXX 57.4x XXX XXX XXX
EV/Gross Profit 7.8x XXX n/a XXX XXX XXX
P/E 60.1x XXX 75.6x XXX XXX XXX
EV/FCF n/a XXX -76.0x XXX XXX XXX

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Zaggle Margins & Growth Rates

Zaggle's last 12 month revenue growth is 36%

Zaggle's revenue per employee in the last FY averaged $0.5M, while opex per employee averaged $0.2M for the same period.

Zaggle's rule of 40 is 47% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Zaggle's rule of X is 100% (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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Zaggle Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 36% XXX 37% XXX XXX XXX
EBITDA Margin 9% XXX 11% XXX XXX XXX
EBITDA Growth 47% XXX 31% XXX XXX XXX
Rule of 40 47% XXX 47% XXX XXX XXX
Bessemer Rule of X XXX XXX 100% XXX XXX XXX
Revenue per Employee XXX XXX $0.5M XXX XXX XXX
Opex per Employee XXX XXX $0.2M 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 35% XXX XXX XXX

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Zaggle Public Comps

See public comps and valuation multiples for Financial Management Software and Human Capital Management Software comps
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
Xero XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Zaggle M&A and Investment Activity

Zaggle acquired  XXX companies to date.

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

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Latest Acquisitions by Zaggle

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 Zaggle

When was Zaggle founded? Zaggle was founded in 2011.
Where is Zaggle headquartered? Zaggle is headquartered in India.
How many employees does Zaggle have? As of today, Zaggle has 303 employees.
Is Zaggle publicy listed? Yes, Zaggle is a public company listed on BOM.
What is the stock symbol of Zaggle? Zaggle trades under 543985 ticker.
When did Zaggle go public? Zaggle went public in 2023.
Who are competitors of Zaggle? Similar companies to Zaggle include e.g. Cape Range, Credit Clear, IODM, Reckon.
What is the current market cap of Zaggle? Zaggle's current market cap is $681M
What is the current revenue of Zaggle? Zaggle's last 12 months revenue is $163M.
What is the current revenue growth of Zaggle? Zaggle revenue growth (NTM/LTM) is 36%.
What is the current EV/Revenue multiple of Zaggle? Current revenue multiple of Zaggle is 3.7x.
Is Zaggle profitable? Yes, Zaggle is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of Zaggle? Zaggle's last 12 months EBITDA is $14.5M.
What is Zaggle's EBITDA margin? Zaggle's last 12 months EBITDA margin is 9%.
What is the current EV/EBITDA multiple of Zaggle? Current EBITDA multiple of Zaggle is 41.8x.

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