Zip Co - Public Comps and Valuation Multiples

Zip Co Overview

About Zip Co

Zip Co Ltd is a diversified finance provider, offering consumer financing via a line of credit (via Zip Pay and Zip Money) and instalment-based finance (via QuadPay, Spotii, Twisto, and PayFlex); as well as lending to small to midsize enterprises (via Zip Business). Zip’s fortunes are largely tied to the buy now, pay later, or BNPL, industry. Majority of its products-Zip Pay, QuadPay (Zip U.S.), and PayFlex-do not charge interest based on outstanding balances. The company provides services in four countries around the world, Australia and New Zealand (ANZ), the United States, and Canada (Americas). The company's segments include ANZ, Americas, and Corporate, of which maximum revenue is derived from USA.

Founded

2009

HQ

Employees

1.1K+

Website

zip.co

Sectors

BNPL
Lending Solutions
FinTech

Financials

LTM Revenue $753M

LTM EBITDA $113M

EV

$5.3B

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Zip Co Financials

As of September 2025, Zip Co reported last 12-month revenue of $753M and EBITDA of $113M.

In the same period, Zip Co generated $342M in LTM gross profit and $46.5M in net income.

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Zip Co P&L

In the most recent fiscal year, Zip Co reported revenue of $703M and EBITDA of $223M.

Zip Co expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$753M	XXX	$703M	XXX	XXX	XXX
Gross Profit	$342M	XXX	$438M	XXX	XXX	XXX
Gross Margin	45%	XXX	62%	XXX	XXX	XXX
EBITDA	$113M	XXX	$223M	XXX	XXX	XXX
EBITDA Margin	15%	XXX	32%	XXX	XXX	XXX
EBIT	$57.1M	XXX	$176M	XXX	XXX	XXX
EBIT Margin	8%	XXX	25%	XXX	XXX	XXX
Net Profit	$46.5M	XXX	$52.4M	XXX	XXX	XXX
Net Margin	6%	XXX	7%	XXX	XXX	XXX
Net Debt	XXX	XXX	$1.3B	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Zip Co including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $753M. EBITDA for the last twelve months was $113M. In the most recent fiscal year, Zip Co achieved $703M in revenue and $223M 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	$753M	Analyst estimates available to subscribers	$703M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$342M	Analyst estimates available to subscribers	$438M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	45.4% gross margin	Analyst estimates available to subscribers	62.3% 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)	$113M	Analyst estimates available to subscribers	$223M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	15.0% EBITDA margin	Analyst estimates available to subscribers	31.7% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$57.1M	Analyst estimates available to subscribers	$176M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	7.6% EBIT margin	Analyst estimates available to subscribers	25.1% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$46.5M	Analyst estimates available to subscribers	$52.4M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	6.2% net profit margin	Analyst estimates available to subscribers	7.5% 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	$1.3B	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Zip Co

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

Recent Performance Highlights

Zip Co generated $753M in revenue over the last twelve months.
The company achieved $113M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $342M.
Net income over the last twelve months reached $46.5M.

Fiscal Year Performance

In the most recent fiscal year, Zip Co reported $703M in total revenue.
Fiscal year EBITDA was $223M.
The company maintained a gross profit margin of 62.3% in the most recent fiscal year.
EBITDA margin for the fiscal year was 31.7%.
Net profit margin reached 7.5% in the most recent fiscal year.

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

Zip Co Stock Performance

Zip Co has current market cap of AUD 6.0B (or $3.9B), and EV of AUD 8.0B (or $5.3B).

Market Cap Evolution

Zip Co Stock Data

As of October 14, 2025, Zip Co's stock price is AUD 5 (or $3).

See Zip Co trading valuation data

EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$5.3B	$3.9B	XXX	XXX	XXX	XXX	$0.03

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Zip Co Valuation Multiples

Zip Co's trades at 8.3x EV/Revenue multiple, and 22.9x EV/EBITDA.

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Zip Co Financial Valuation Multiples

As of October 14, 2025, Zip Co has market cap of $3.9B and EV of $5.3B.

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

Zip Co has a P/E ratio of 84.5x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$3.9B	XXX	$3.9B	XXX	XXX	XXX
EV (current)	$5.3B	XXX	$5.3B	XXX	XXX	XXX
EV/Revenue	7.0x	XXX	8.3x	XXX	XXX	XXX
EV/EBITDA	46.5x	XXX	22.9x	XXX	XXX	XXX
EV/EBIT	92.1x	XXX	32.4x	XXX	XXX	XXX
EV/Gross Profit	15.4x	XXX	n/a	XXX	XXX	XXX
P/E	84.5x	XXX	143.4x	XXX	XXX	XXX
EV/FCF	384.9x	XXX	86.3x	XXX	XXX	XXX

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

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Zip Co Margins & Growth Rates

Zip Co's last 12 month revenue growth is 22%

Zip Co's revenue per employee in the last FY averaged $0.6M, while opex per employee averaged $0.2M for the same period.

Zip Co's rule of 40 is 59% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Zip Co's rule of X is 71% (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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Zip Co Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	22%	XXX	23%	XXX	XXX	XXX
EBITDA Margin	15%	XXX	36%	XXX	XXX	XXX
EBITDA Growth	37%	XXX	-15%	XXX	XXX	XXX
Rule of 40	59%	XXX	59%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	71%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.6M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.2M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	4%	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	37%	XXX	XXX	XXX

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

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