Company Valuation: Xero Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 20,173 16,527 14,376 22,060 26,071 16,884 - -
Change - -18.07% -13.02% 53.45% 18.18% -35.24% - -
Enterprise Value (EV) 1 19,916 16,476 14,278 21,638 24,969 17,366 16,974 16,168
Change - -17.27% -13.34% 51.54% 15.4% -30.45% -2.26% -4.75%
P/E ratio 984x -1,849x -126x 128x 116x 69.2x 64.8x 39.8x
PBR 27.1x 16x 13.7x 16x 11.9x 3.3x 3.08x 2.78x
PEG - 13x -0x -1x 4x -28.95x 9.59x 0.6x
Capitalization / Revenue 23.8x 15.1x 10.3x 12.9x 12.4x 6.17x 4.74x 3.94x
EV / Revenue 23.5x 15x 10.2x 12.6x 11.9x 6.35x 4.76x 3.77x
EV / EBITDA 104x 77.5x 47.3x 41.1x 39x 23.5x 19.9x 14.7x
EV / EBIT 323x 247x -239x 90.3x 70.2x 46.5x 41.6x 26.4x
EV / FCF 292x 7,948x 140x 63x 49.3x 37.3x 35.4x 24.3x
FCF Yield 0.34% 0.01% 0.72% 1.59% 2.03% 2.68% 2.83% 4.11%
Dividend per Share 2 - - - - - - - 0.3475
Rate of return - - - - - - - 0.35%
EPS 2 0.14 -0.06 -0.76 1.14 1.47 1.435 1.532 2.494
Distribution rate - - - - - - - 13.9%
Net sales 1 848.8 1,097 1,400 1,714 2,103 2,735 3,565 4,288
EBITDA 1 191.2 212.7 301.7 526.5 640.6 739.4 851.6 1,100
EBIT 1 61.69 66.67 -59.8 239.6 355.7 373.2 408.3 612.5
Net income 1 19.77 -9.114 -113.5 174.6 227.8 234.8 263.8 452.5
Net Debt 1 -256.6 -51.22 -97.39 -422.1 -1,102 482.3 90.14 -716.1
Reference price 2 137.78 110.97 95.73 145.41 170.30 99.32 99.32 99.32
Nbr of stocks (in thousands) 146,413 148,934 150,173 151,707 153,089 169,994 - -
Announcement Date 5/12/21 5/11/22 5/17/23 5/22/24 5/14/25 - - -
1NZD in Million2NZD
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
69.22x6.35x23.49x-.--% 10B
32.87x21.32x25.41x-.--% 174B
15.51x4.33x9.05x-.--% 115B
32.39x6.6x16.23x-.--% 55.02B
60.57x6.09x16.81x0.38% 49.87B
406.51x9.94x41.5x-.--% 45.49B
32.34x3.3x9.99x-.--% 38.08B
23.41x5.26x13.31x0.96% 37.37B
27.53x7.22x14.73x-.--% 19.45B
42.36x2.67x15.09x-.--% 16.24B
Average 74.27x 7.31x 18.56x 0.13% 56.11B
Weighted average by Cap. 62.09x 10.53x 19.14x 0.1%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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  4. Valuation Xero Limited
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