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Q3 2022
Fintech Q3 Public Company Comp Sheet and Valuation Guide
October 10, 2022
Public fintech valuations remain far off their highs
Many of the recent traditional IPOs and de-SPAC transactions have not resulted in as big a payday as expected for late-stage financial tech (fintech) investors as stocks of fast-growth, low-profit fintech companies are 60% to 80% off their peak.
PitchBook Analyst James Ulan outlines that a challenged IPO market with lower valuations means that executing an IPO will be more difficult and valuations will be lower, at least in the short-term. The trend could have an effect on the performance of certain growth equity and late-stage VC funds.
We believe that there is additional downside to stock prices as Wall Street revenue and profit forecasts are likely to decline during and after Q3 results. The severity of any recession is the other glaring factor that will influence revenue, profit, and multiples.
Our Fintech Q3 Public Company Comp Sheet and Valuation Guide tracks stock performance, revenue forecasts, and market caps of key publicly traded fintech companies in sectors including payments, insurance tech and property tech.
Table of contents
Many of the recent traditional IPOs and de-SPAC transactions have not resulted in as big a payday as expected for late-stage financial tech (fintech) investors as stocks of fast-growth, low-profit fintech companies are 60% to 80% off their peak.
PitchBook Analyst James Ulan outlines that a challenged IPO market with lower valuations means that executing an IPO will be more difficult and valuations will be lower, at least in the short-term. The trend could have an effect on the performance of certain growth equity and late-stage VC funds.
We believe that there is additional downside to stock prices as Wall Street revenue and profit forecasts are likely to decline during and after Q3 results. The severity of any recession is the other glaring factor that will influence revenue, profit, and multiples.
Our Fintech Q3 Public Company Comp Sheet and Valuation Guide tracks stock performance, revenue forecasts, and market caps of key publicly traded fintech companies in sectors including payments, insurance tech and property tech.
Table of contents
| Key takeaways | 2 |
| Stock returns | 3 |
| Revenue, forecast revenue, and enterprise value/next twelve months revenue | 4 |
| EBITDA, forecast EBITDA, and enterprise value/next twelve months EBITDA | 6 |
| Free cash flow, forecast FCF, and market cap/next twelve months FCF multiples | 8 |
| Earnings per share | 10 |
| Market cap versus capital raised in private markets | 12 |
| Layoffs | 13 |
| Traditional financials comparables sheet | 14 |