Public Comps and Valuation Multiples for Payment Infrastructure

Benchmark revenue and EBITDA valuation multiples for public comps like
Visa, Mastercard, American Express, PayPal and Fiserv.

Select Vertical

Viewing 25 of 46 companies with full data

Company	Market Cap	Enterprise Value	LTM Revenue	EV/LTM Revenue	EV/LTM EBITDA
Visa	$682B	$692B	$44B	15.6x	22.2x
Mastercard	$480B	$491B	$35B	14.0x	22.2x
American Express	$242B	$303B	$76B	4.0x	-
PayPal	$50B	$50B	$34B	1.5x	7.2x
Fiserv	$27B	$56B	$20B	2.8x	6.3x
Kaspi.kz	$16B	$13B	$8.5B	1.5x	3.9x
Circle	$15B	$14B	$2.9B	4.7x	22.4x
ACI Worldwide	$5.9B	$6.6B	$1.8B	3.6x	12.4x
Nexi	$5.6B	$6.6B	$4.2B	1.6x	3.1x
dLocal	$4.3B	$3.4B	$1.3B	2.5x	10.9x
GPGI	$4.2B	$4.1B	$1.3B	3.2x	10.8x
Paymentus	$3.7B	$3.4B	$1.3B	2.6x	22.0x
SUNMI	$3B	$3B	-	-	-
Crane NXT	$3B	$4.2B	$1.8B	2.4x	9.9x
Computer Age Management Services	$1.9B	$1.8B	$165M	11.2x	24.6x
Evertec	$1.9B	$2.7B	$1B	2.7x	6.8x
Marqeta	$1.8B	$1.1B	$670M	1.7x	9.1x
eFinance	$1.5B	$1.5B	-	-	-
Fawry	$1.3B	$1.2B	$209M	5.6x	10.4x
Isracard	$1.2B	$2.5B	-	-	-
Optasia	$1.1B	$1.1B	-	-	-
Jiangsu Tongxingbao	$866M	$342M	-	-	-
Cantaloupe	$826M	$807M	-	-	-
Cuscal	$685M	($1.5B)	$235M	(6.5x)	(28.7x)
Worldline	$653M	$2.9B	$4.5B	0.6x	3.6x
Paysafe	$418M		$1.8B
Azkoyen	$391M		$249M
GMO Financial Gate	$338M		$129M
CPI Card	$216M		$574M
Densan System Holdings Co	$187M		$442M
Intelligent Wave	$154M		$106M
wrkr	$112M		$11M
EML Payments	$88M		$144M
PaymenT	$73M		-
Usio	$59M		$91M
Robot Payment	$55M		$21M
Findi	$28M		$64M
M2M Group	$26M		-
Prelude	$25M		-
NamSys	$23M		-
Crunchfish	$21M		$648K
FingerMotion	$21M		-
Societe Maghrebine de Monetique	$15M		-
Ovanti	$5M		-
Bitcoin Depot	$909K		$499M
Accelerated Technologies	$1K		-