47 observations · 11 reports · 3 publishers
Valuation Multiple (EV/NTM Revenue).
Every Valuation Multiple (EV/NTM Revenue) observation from our practitioner benchmark corpus. Latest: Clouded Judgement (2025).
Observations
47
Reports
11
Publishers
3
Latest
Clouded Judgement
2025-10-31
2025-10-31
5.1 x
Clouded Judgement
2025
median
All public SaaS companies
Clouded Judgement: Cloud Giants Report Q3 2025 – Capacity, AI Demand, and SaaS Valuation Multiples →
All public SaaS companies
Clouded Judgement: Cloud Giants Report Q3 2025 – Capacity, AI Demand, and SaaS Valuation Multiples →
24.9 x
Clouded Judgement
2025
median
Top 5 SaaS companies by valuation
Clouded Judgement: Cloud Giants Report Q3 2025 – Capacity, AI Demand, and SaaS Valuation Multiples →
Top 5 SaaS companies by valuation
Clouded Judgement: Cloud Giants Report Q3 2025 – Capacity, AI Demand, and SaaS Valuation Multiples →
26.3 x
Clouded Judgement
2025
median
High-growth SaaS companies (>25% NTM growth)
Clouded Judgement: Cloud Giants Report Q3 2025 – Capacity, AI Demand, and SaaS Valuation Multiples →
High-growth SaaS companies (>25% NTM growth)
Clouded Judgement: Cloud Giants Report Q3 2025 – Capacity, AI Demand, and SaaS Valuation Multiples →
7.5 x
Clouded Judgement
2025
median
Mid-growth SaaS companies (15-25% NTM growth)
Clouded Judgement: Cloud Giants Report Q3 2025 – Capacity, AI Demand, and SaaS Valuation Multiples →
Mid-growth SaaS companies (15-25% NTM growth)
Clouded Judgement: Cloud Giants Report Q3 2025 – Capacity, AI Demand, and SaaS Valuation Multiples →
4.0 x
Clouded Judgement
2025
median
Low-growth SaaS companies (<15% NTM growth)
Clouded Judgement: Cloud Giants Report Q3 2025 – Capacity, AI Demand, and SaaS Valuation Multiples →
Low-growth SaaS companies (<15% NTM growth)
Clouded Judgement: Cloud Giants Report Q3 2025 – Capacity, AI Demand, and SaaS Valuation Multiples →
4.3 x
Clouded Judgement
2024
median
Historical 10-year median
Clouded Judgement: Beat and No Raise? – SaaS Multiple Expansion Without Earnings Growth →
Historical 10-year median
Clouded Judgement: Beat and No Raise? – SaaS Multiple Expansion Without Earnings Growth →
10.0 x
Clouded Judgement
2024
median
Companies with >27% projected NTM growth
Clouded Judgement: Beat and No Raise? – SaaS Multiple Expansion Without Earnings Growth →
Companies with >27% projected NTM growth
Clouded Judgement: Beat and No Raise? – SaaS Multiple Expansion Without Earnings Growth →
12.1 x
Clouded Judgement
2024
median
Companies with 15-27% projected NTM growth
Clouded Judgement: Beat and No Raise? – SaaS Multiple Expansion Without Earnings Growth →
Companies with 15-27% projected NTM growth
Clouded Judgement: Beat and No Raise? – SaaS Multiple Expansion Without Earnings Growth →
4.7 x
Clouded Judgement
2024
median
Companies with <15% projected NTM growth
Clouded Judgement: Beat and No Raise? – SaaS Multiple Expansion Without Earnings Growth →
Companies with <15% projected NTM growth
Clouded Judgement: Beat and No Raise? – SaaS Multiple Expansion Without Earnings Growth →
5.2 multiple
Clouded Judgement
2024
median
Overall SaaS market
Clouded Judgement: Budget Bifurcation in Enterprise Software Procurement →
Overall SaaS market
Clouded Judgement: Budget Bifurcation in Enterprise Software Procurement →
15.7 multiple
Clouded Judgement
2024
median
Top 5 companies by multiple
Clouded Judgement: Budget Bifurcation in Enterprise Software Procurement →
Top 5 companies by multiple
Clouded Judgement: Budget Bifurcation in Enterprise Software Procurement →
9.7 multiple
Clouded Judgement
2024
median
High-growth SaaS (>27% NTM growth)
Clouded Judgement: Budget Bifurcation in Enterprise Software Procurement →
High-growth SaaS (>27% NTM growth)
Clouded Judgement: Budget Bifurcation in Enterprise Software Procurement →
7.8 multiple
Clouded Judgement
2024
median
Mid-growth SaaS (15-27% NTM growth)
Clouded Judgement: Budget Bifurcation in Enterprise Software Procurement →
Mid-growth SaaS (15-27% NTM growth)
Clouded Judgement: Budget Bifurcation in Enterprise Software Procurement →
3.6 multiple
Clouded Judgement
2024
median
Low-growth SaaS (<15% NTM growth)
Clouded Judgement: Budget Bifurcation in Enterprise Software Procurement →
Low-growth SaaS (<15% NTM growth)
Clouded Judgement: Budget Bifurcation in Enterprise Software Procurement →
5.8 x
Battery Ventures
2023
median
Public SaaS companies as of November 7, 2023
State of the OpenCloud 2023: AI Driving Cloud Growth Amid Economic Headwinds →
Public SaaS companies as of November 7, 2023
State of the OpenCloud 2023: AI Driving Cloud Growth Amid Economic Headwinds →
60 x
OnlyCFO
2023
average
Top 10 SaaS companies at peak valuation (November 2021)
SentinelOne and the 2021 SaaS Valuation Bubble: Growth vs. Profitability Trade-off in Market Reset →
Top 10 SaaS companies at peak valuation (November 2021)
SentinelOne and the 2021 SaaS Valuation Bubble: Growth vs. Profitability Trade-off in Market Reset →
11.5 x
OnlyCFO
2023
average
Top 10 SaaS companies post-market reset (2023)
SentinelOne and the 2021 SaaS Valuation Bubble: Growth vs. Profitability Trade-off in Market Reset →
Top 10 SaaS companies post-market reset (2023)
SentinelOne and the 2021 SaaS Valuation Bubble: Growth vs. Profitability Trade-off in Market Reset →
10.1 x
Battery Ventures
2022
current
October 2022, >30% NTM revenue growth
State of the OpenCloud 2022: Battery Ventures Market Analysis →
October 2022, >30% NTM revenue growth
State of the OpenCloud 2022: Battery Ventures Market Analysis →
6.0 x
Battery Ventures
2022
current
October 2022, all SaaS companies
State of the OpenCloud 2022: Battery Ventures Market Analysis →
October 2022, all SaaS companies
State of the OpenCloud 2022: Battery Ventures Market Analysis →
6.0 x
Battery Ventures
2022
current
October 2022, 20-30% NTM revenue growth
State of the OpenCloud 2022: Battery Ventures Market Analysis →
October 2022, 20-30% NTM revenue growth
State of the OpenCloud 2022: Battery Ventures Market Analysis →
4.1 x
Battery Ventures
2022
current
October 2022, <20% NTM revenue growth
State of the OpenCloud 2022: Battery Ventures Market Analysis →
October 2022, <20% NTM revenue growth
State of the OpenCloud 2022: Battery Ventures Market Analysis →
12.2 x
Battery Ventures
2022
8.2 x
Battery Ventures
2022
16.6 x
Battery Ventures
2022
9.6 x
Battery Ventures
2022
44.1 x
Battery Ventures
2022
max
Historical peak for >30% NTM revenue growth
State of the OpenCloud 2022: Battery Ventures Market Analysis →
Historical peak for >30% NTM revenue growth
State of the OpenCloud 2022: Battery Ventures Market Analysis →
15.8 x
Clouded Judgement
2021
median
All public SaaS companies as of July 2021
Clouded Judgement: SBC Benchmarking and SaaS Valuation Multiples Analysis →
All public SaaS companies as of July 2021
Clouded Judgement: SBC Benchmarking and SaaS Valuation Multiples Analysis →
35.4 x
Clouded Judgement
2021
median
High-growth SaaS (>30% projected NTM growth)
Clouded Judgement: SBC Benchmarking and SaaS Valuation Multiples Analysis →
High-growth SaaS (>30% projected NTM growth)
Clouded Judgement: SBC Benchmarking and SaaS Valuation Multiples Analysis →
14.5 x
Clouded Judgement
2021
median
Mid-growth SaaS (15-30% projected NTM growth)
Clouded Judgement: SBC Benchmarking and SaaS Valuation Multiples Analysis →
Mid-growth SaaS (15-30% projected NTM growth)
Clouded Judgement: SBC Benchmarking and SaaS Valuation Multiples Analysis →
5.7 x
Clouded Judgement
2021
median
Low-growth SaaS (<15% projected NTM growth)
Clouded Judgement: SBC Benchmarking and SaaS Valuation Multiples Analysis →
Low-growth SaaS (<15% projected NTM growth)
Clouded Judgement: SBC Benchmarking and SaaS Valuation Multiples Analysis →
15.4 x
Clouded Judgement
2021
median
Public SaaS companies, April 2021
Clouded Judgement: SaaS Valuation Multiples & Earnings Season Analysis (April 30, 2021) →
Public SaaS companies, April 2021
Clouded Judgement: SaaS Valuation Multiples & Earnings Season Analysis (April 30, 2021) →
26.8 x
Clouded Judgement
2021
median
SaaS companies with >30% NTM projected growth
Clouded Judgement: SaaS Valuation Multiples & Earnings Season Analysis (April 30, 2021) →
SaaS companies with >30% NTM projected growth
Clouded Judgement: SaaS Valuation Multiples & Earnings Season Analysis (April 30, 2021) →
15.4 x
Clouded Judgement
2021
median
SaaS companies with 15-30% NTM projected growth
Clouded Judgement: SaaS Valuation Multiples & Earnings Season Analysis (April 30, 2021) →
SaaS companies with 15-30% NTM projected growth
Clouded Judgement: SaaS Valuation Multiples & Earnings Season Analysis (April 30, 2021) →
6.5 x
Clouded Judgement
2021
median
SaaS companies with <15% NTM projected growth
Clouded Judgement: SaaS Valuation Multiples & Earnings Season Analysis (April 30, 2021) →
SaaS companies with <15% NTM projected growth
Clouded Judgement: SaaS Valuation Multiples & Earnings Season Analysis (April 30, 2021) →
16.5 x
Clouded Judgement
2021
average
3-month trailing average, January 2021
Clouded Judgement: SaaS Valuation Multiples & Earnings Season Analysis (April 30, 2021) →
3-month trailing average, January 2021
Clouded Judgement: SaaS Valuation Multiples & Earnings Season Analysis (April 30, 2021) →
8.5 x
Clouded Judgement
2021