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Internet holding company with a large stake in Tencent plus owned businesses in food delivery, classifieds, and fintech across emerging markets.
Internet holding company with a large stake in Tencent plus owned businesses in food delivery, classifieds, and fintech across emerging markets.
Not a single business: its value is mostly its long-held Tencent stake, which it has been selling down to fund buybacks of its own shares, alongside operating classifieds and food-delivery businesses. It was formed in 2019 as the international internet arm of Naspers of South Africa.
In one line: A European SoftBank / Berkshire-style holding for internet assets.
Moat: narrow (network effects, scale). Value depends mainly on portfolio companies' own moats (notably Tencent's network effects), not Prosus itself.
Headquarters: Amsterdam, Netherlands · Founded: 1997 · Employees: 41,998
Size Prosus (PRX.AS) is a Netherlands Information Technology company (Packaged Software) with a market value of $83.9B, the 3rd largest of 61 Netherlands companies the cockpit tracks. Shares closed at €37.55 on 6 Nov 2026.
Performance Over six months the shares fell 3.0%, against +7.0% for the median peer and +0.4% for the Netherlands market (cap-weighted) — 8th lowest of 20 in its peer set.
Growth Revenue grew 45.4% over the last twelve months (peer median +20.5%); the operating margin is 3.1% (peer median 14.2%).
Valuation It trades at 10.1× forward earnings against a peer median of 25.6× (2nd cheapest of 20).
Price implies For today's price to make sense, revenue must grow about 56% a year for seven years (Req g). Recent delivered growth is +14%, so the hurdle is +42 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 6.4 points below its cost of capital (6.8% WACC).
Credit Prosus has 8 bonds outstanding ($8.54B), rated BBB by the agencies and trading like BBB- at a weighted spread of 148 bp.
Next results Next results expected around 25 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €8.36B | €8.38B | €5.75B | €5.04B | €4.76B |
| Revenue growth | — | +46% | +14% | +6% | — |
| Gross profit | €3.43B | €3.44B | €2.31B | €1.89B | €1.41B |
| EBITDA | €714M | €715M | €286M | €3.69M | -€209M |
| Net income | €10.0B | €10.0B | €11.5B | €6.09B | €9.17B |
| Free cash flow | €1.29B | €1.30B | €1.71B | €925M | -€336M |
| Capital expenditure | €84.0M | €180M | €98.7M | €61.8M | €253M |
| Total debt | n/a | €15.3B | €15.3B | €15.1B | €15.0B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Prosus PRX.AS | $83.9B | -3% | +45% | 3% | 10.1× | 55.8% |
| Softbank 9984.T | $128B | -32% | +9% | -5% | 18.5× | n/a |
| MercadoLibre MELI | $76.6B | -8% | +46% | 8% | 32.0× | 11.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | PRX.AS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +7.8% | -7.2% | 9th highest of 21 |
| 6-month return | -3.0% | +7.0% | 8th lowest of 20 |
| Distance from 52-week high | -41.3% | -28.5% | 6th lowest of 21 |
| Revenue growth (TTM) | +45.4% | +20.5% | 4th highest of 21 |
| Operating margin | 3.1% | 14.2% | 6th lowest of 21 |
| Forward P/E | 10.1× | 25.6× | 2nd cheapest of 20 |
| Growth the price implies (Req g, 7 yrs) | 55.8% | 28.9% | most demanding of 19 |
| Growth delivered (Del g) | +13.8% | +23.8% | 5th lowest of 19 |
| Hurdle (Req g minus delivered) | +42.0 pp | +1.9 pp | most demanding of 19 |
| ROIC minus cost of capital | -6.4 pp | -0.8 pp | 7th lowest of 21 |
| Net debt / EBITDA | 2.3× | 0.1× | 6th most indebted of 20 |
| Bond spread | 148 bp | 93 bp | widest of 15 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Prosus PRX.AS | Netherlands | $83.9B | -3% | +45% | 3% | 10.1× | 55.8% | +13.8% |
| Synopsys SNPS | United States | $86.3B | -13% | +46% | 12% | 25.6× | 39.2% | +13.9% |
| Cadence Design Systems CDNS | United States | $87.8B | -12% | +18% | 30% | 34.0× | 29.9% | +14.6% |
| Intuit INTU | United States | $91.3B | -14% | +14% | 29% | 14.8× | 3.1% | +17.4% |
| Adobe ADBE | United States | $93.1B | -5% | +12% | 36% | 8.9× | 0.9% | +13.1% |
| SNOW SNOW | United States | $97.3B | +81% | +32% | -22% | 108.4× | 41.3% | +51.2% |
| ServiceNow NOW | United States | $106B | +12% | +22% | 13% | 22.4× | 29.5% | +24.1% |
| Datadog DDOG | United States | $64.3B | -11% | +33% | 2% | 61.0× | n/a | n/a |
| Autodesk ADSK | United States | $54.7B | +7% | +19% | 23% | 20.1× | 18.1% | +13.7% |
| AppLovin APP | United States | $131B | -16% | +29% | 78% | 20.0× | 28.2% | +30.4% |
| Constellation Software CSU.TO | Canada | $53.3B | +37% | +17% | 16% | 19.7× | 11.2% | +25.0% |
| Roper Technologies ROP | United States | $47.2B | +39% | +9% | 28% | 19.7× | 12.7% | +10.2% |
| Salesforce CRM | United States | $176B | +18% | +11% | 22% | 14.6× | 13.7% | +14.3% |
| Dassault Systemes DSY.PA | France | $39.0B | +32% | 0% | 26% | 19.2× | 8.3% | +7.0% |
| Atlassian TEAM | United States | $38.7B | +5% | +26% | 4% | 28.7× | 44.7% | +25.8% |
| NBIS NBIS | United States | $35.2B | -8% | +461% | -49% | n/a | n/a | n/a |
| Zscaler ZS | United States | $32.2B | +30% | +25% | -4% | 40.5× | 20.7% | +37.9% |
| CrowdStrike CRWD | United States | $222B | +64% | +24% | -1% | 153.6× | 52.4% | +40.6% |
| Twilio TWLO | United States | $31.3B | 0% | +19% | 8% | 30.7× | 38.2% | +23.5% |
| Okta OKTA | United States | $29.5B | +101% | +11% | 8% | 41.3× | 39.2% | +28.4% |
| Bending Spoons BSP | United States | $27.9B | n/a | +95% | 21% | 25.6× | 45.5% | +94.7% |
Prosus has 8 bonds outstanding with $8.54B face value. The agencies rate it BBB; its bonds trade like BBB-. Weighted yield 6.33%, a spread of 148 bp over government bonds.