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Similarweb Ltd.SMWBCompetitor analysis, valuation and peers

United States · USD·Information Technology›Packaged Software
Momentum leader 98
Mkt cap
$724M
US dollars, full cap
Free float
40%
of shares outstanding
$/day
$3.44M
20-day average traded
Fwd P/E
29.0×
forward earnings
ROIC−WACC
n/a
WACC 11.3%
Hurdle
+3 pp
Req g minus delivered
Next earnings
11 days
17 Nov 2026
Close · USD$8.26
1D-1.8%
1W-5.5%
1M-2.0%
3M+11.3%
6M+140.8%
YTD+10.3%
1Y-4.4%
ATR %5.2%
Beta1.70
52w lowhigh13.1% off high

What Similarweb does

Employees: 1,000

Similarweb at a glance

Size Similarweb (SMWB) is a United States Information Technology company (Packaged Software) with a market value of $724M, the 2457th largest of 3,117 United States companies the cockpit tracks. Shares closed at $8.26 on 6 Nov 2026.

Performance Over six months the shares gained 140.8%, against -10.3% for the median peer and -1.1% for the United States market (cap-weighted) — highest of 21 in its peer set.

Growth Revenue grew 10.2% over the last twelve months (peer median -1.7%); the operating margin is -1.8% (peer median 5.3%).

Valuation It trades at 29.0× forward earnings against a peer median of 21.4× (2nd most expensive of 12).

Price implies For today's price to make sense, revenue must grow about 28% a year for seven years (Req g). Recent delivered growth is +25%, so the hurdle is +3 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.

Backlog Backlog (remaining performance obligations) was $289M at 31 Dec 2025, up 17% on a year earlier — 1.0 years of trailing revenue. Backlog detail →

Short interest Short interest is 1.0% of the free float (15 Oct 2026).

Next results Next results expected around 17 Nov 2026 (exchange calendar; dates can move).

Relative performance

10020030011 May 202611 Aug 20266 Nov 2026SMWB 259Peer median 92
Six months, rebased to 100: Similarweb against the median of its 20 peers (local-currency closes).

Similarweb financials

Reported figures in USD; fiscal year ends 2025-12-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
Revenue$296M$283M$250M$218M$193M
Revenue growth—+13%+15%+13%—
Gross profit$234M$223M$195M$171M$140M
EBITDA$3.41M-$10.0M$15.5M-$5.92M-$65.5M
Net income-$21.8M-$32.9M-$11.5M-$29.4M-$83.7M
Free cash flow$15.9M$13.2M$28.7M-$4.60M-$74.3M
Capital expenditure$2.20M$1.65M$2.73M$2.38M$31.2M
Total debt$45.7M$43.3M$39.7M$67.4M$74.2M

Quarterly statements and history in the cockpit →

Similarweb competitor charts

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.

Performance: 6-month against 1-month return

-50%0%+50%+100%0%+20%PEXIP2643ABS300532DCBOIRE300047300036002777300561TRUE-B053800ENGHLSS6036364432UBI688418300533SMWB6-month return →1-month return →
Up and to the right = strong over both horizons. Similarweb is the large dot.

Fundamentals: revenue growth against valuation

-40%-20%0%20×30×40×PEXIPABSDCBOIRE002777TRUE-BENGHLSS6036364432688418SMWBRevenue growth (TTM) →Forward P/E →
Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Similarweb is the large dot.

Capital: growth delivered against growth the price implies

0%+20%+40%0%20%40%PEXIPABSDCBOIRE300036002777TRUE-BENGHLSS6036364432300533SMWBGrowth delivered (Del g) →Growth the price implies (Req g, 7 yrs) →
Above the diagonal = the price needs more growth than the company has been delivering; below = the price already allows for a slowdown. Similarweb is the large dot.

Similarweb competitors and peer comparison

How Similarweb compares with its peers

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.

Similarweb against its 20 peers (data as of 6 Nov 2026)
MeasureSMWBPeer medianRank in peer set
1-month return-2.0%+2.0%9th lowest of 21
6-month return+140.8%-10.3%highest of 21
Distance from 52-week high-13.1%-40.9%4th highest of 21
Revenue growth (TTM)+10.2%-1.7%8th highest of 21
Operating margin-1.8%5.3%8th lowest of 21
Forward P/E29.0×21.4×2nd most expensive of 12
Growth the price implies (Req g, 7 yrs)28.2%10.2%3rd most demanding of 14
Growth delivered (Del g)+24.8%+11.1%4th highest of 14
Hurdle (Req g minus delivered)+3.4 pp-7.2 pp5th most demanding of 14
Net debt / EBITDA-10.2×0.6×least indebted of 11

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthOp. marginForward P/EReq gDelivered g
Similarweb SMWBUnited States$724M+141%+10%-2%29.0×28.2%+24.8%
Pexip PEXIP.OLNorway$722M-18%+9%26%21.4×-0.3%+12.6%
CaoCao 2643.HKHong Kong$725M-59%+38%-3%n/an/an/a
Asseco Business Solutions ABS.WAPoland$728M-6%+15%33%17.5×3.8%+11.1%
New Trend International Logis-Tech 300532.SZChina$728M-7%+56%7%n/an/an/a
Docebo DCBO.TOCanada$732M+44%+11%9%17.4×14.1%+32.1%
IRESS IRE.AXAustralia$739M-4%-14%17%12.8×10.2%+0.5%
Shenzhen Tianyuan DIC Information Technology 300047.SZChina$743M-32%+14%1%n/an/an/a
Beijing Supermap Software 300036.SZChina$744M-33%-24%-21%n/a30.5%-1.2%
Sichuan Jiuyuan Yinhai Software 002777.SZChina$746M-22%-13%4%46.9×31.2%+1.3%
SGSG Science & Technology Co., Ltd. Zhuhai 300561.SZChina$749M-14%+13%-40%n/an/an/a
Truecaller TRUE-B.STSweden$750M+69%-16%19%24.7×11.3%+31.2%
AhnLab 053800.KSSouth Korea$696M+57%+10%13%n/a4.5%+8.5%
Enghouse Systems ENGH.TOCanada$695M+1%-5%19%13.8×-14.5%-0.2%
Lectra LSS.PAFrance$754M+10%-6%6%21.7×12.6%+16.5%
Linewell Software 603636.SSChina$755M-2%-42%-111%22.4×16.4%-11.5%
WingArc1st 4432.TJapan$755M+29%+15%30%15.4×-7.6%+11.1%
UBISOFT Entertainment UBI.PAFrance$692M-15%-27%-87%n/an/an/a
Sunyard Technology 600571.SSChina$690M-22%+1%-1%n/an/an/a
Genew Technologies 688418.SSChina$688M-49%-12%-22%26.8×n/an/a
Shenzhen Bingchuan Network 300533.SZChina$763M-18%-5%-10%n/a4.7%+46.0%

Similarweb backlog

Similarweb reported $289M of remaining performance obligations at 31 Dec 2025, up 17% from a year earlier. That is 1.0 years of trailing revenue already under contract.

Questions

Which companies are Similarweb's closest peers?
The cockpit's peer set: Pexip (PEXIP.OL), CaoCao (2643.HK), Asseco Business Solutions (ABS.WA), New Trend International Logis-Tech (300532.SZ), Docebo (DCBO.TO), IRESS (IRE.AX), Shenzhen Tianyuan DIC Information Technology (300047.SZ), Beijing Supermap Software (300036.SZ).
Is Similarweb expensive compared with its peers?
On forward p/e it trades at 29.0× against a peer median of 21.4×, 2nd most expensive of 12 in its peer set. For today's price to make sense, revenue must grow about 28% a year for seven years (Req g). Recent delivered growth is +25%, so the hurdle is +3 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.
How has Similarweb stock performed?
Over six months to 6 Nov 2026 the shares returned +140.8% against -10.3% for the median peer; over one year -4.4%.
What is Similarweb's backlog?
Similarweb's remaining performance obligations (contracted revenue not yet recognised) were $289M at 31 Dec 2025, +17% on a year earlier.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.