58 observations · 54 reports · 2 publishers

R&D as % of Revenue.

Every R&D as % of Revenue observation from our practitioner benchmark corpus. Latest: Clouded Judgement (2026).

← All benchmark reports
Observations
58
Reports
54
Publishers
2
Latest
Clouded Judgement
2026-03-20
23 percent
Clouded Judgement
2026
median
Public SaaS companies in index
Clouded Judgement: Digital Twins as the Infrastructure Layer for AI Agents →
24 percent
Clouded Judgement
2026
median
SaaS public companies
Clouded Judgement: The Poison of Inertia →
23 percent
Clouded Judgement
2026
median
Public SaaS companies
Clouded Judgement: Software Valuations in the Age of AI Disruption →
23 percent
Clouded Judgement
2026
median
Public SaaS companies
Clouded Judgement: SaaS Valuation Compression and the Terminal Value Crisis →
23 percent
Clouded Judgement
2026
median
Public SaaS companies
Clouded Judgement: The Education Advantage in AI →
23% percent
Clouded Judgement
2025
median
SaaS companies at scale
Clouded Judgement: Exuberance Returning to Venture Markets in 2026 →
34 percent
drive.google.com
2025
median
Private SaaS companies, 2024
2025 B2B SaaS Performance Metrics Benchmarks Report →
23 percent
drive.google.com
2025
median
Public SaaS companies, 2024
2025 B2B SaaS Performance Metrics Benchmarks Report →
24 percent
Clouded Judgement
2025
median
Public SaaS companies
Clouded Judgement: Q4 2024 Software Earnings & SaaS Valuation Analysis →
24 percent
Clouded Judgement
2025
median
SaaS companies
Clouded Judgement: Rising Rates and SaaS Valuation Multiples in a High-Growth Environment →
25 percent
Clouded Judgement
2024
median
Software universe
Clouded Judgement: Beat and No Raise? – SaaS Multiple Expansion Without Earnings Growth →
25 percent
Clouded Judgement
2024
median
Public SaaS companies
Clouded Judgement: Budget Bifurcation in Enterprise Software Procurement →
25 percent
Clouded Judgement
2024
median
Public SaaS companies
Clouded Judgement: Azure AI Services Growth Signals Positive Infrastructure Software Outlook →
25 percent
Clouded Judgement
2024
median
Public SaaS companies
Clouded Judgement: March CPI Update & SaaS Valuation Multiple Analysis →
25 percent
Clouded Judgement
2024
median
Public SaaS companies
Clouded Judgement: Hype Rounds vs Fundamental Rounds + Macro Update →
25 percent
Clouded Judgement
2024
median
Public SaaS companies
Clouded Judgement: 2024 SaaS Guidance vs. Consensus & Valuation Multiple Analysis →
25 percent
Clouded Judgement
2024
median
Cloud software companies
Clouded Judgement: Rule of X and SaaS Valuation Multiplier Dynamics →
25 percent
Clouded Judgement
2024
median
Public SaaS companies
Clouded Judgement: January Green Shoots, CPI Inflation, and SaaS Valuation Multiples →
26 percent
Clouded Judgement
2024
median
Public SaaS companies
Clouded Judgement: Cloud Giants Report Q4'23 →
26% percent
Clouded Judgement
2024
median
Public B2B SaaS companies
Clouded Judgement: Q4 Earnings Season Kicks Off with ServiceNow →
26 percent
Clouded Judgement
2023
median
SaaS companies at scale
Clouded Judgement: November 2023 Macro Update & SaaS Valuation Multiples Analysis →
26 percent
Clouded Judgement
2023
median
Public SaaS companies
Clouded Judgement: Net New ARR Rebound & AWS ReInvent 2023 Implications →
27 percent
Clouded Judgement
2023
median
Public SaaS companies at scale
Clouded Judgement: Cloud Giants Q3 2023 Report & SaaS Valuation Reality Check →
27 percent
Clouded Judgement
2023
median
Public SaaS cohort
Clouded Judgement: Hyperscaler Cloud Growth & SaaS Valuation Multiples Analysis →
27 percent
Clouded Judgement
2023
median
Public SaaS companies
Clouded Judgement: Interest Rate Risk & SaaS Valuation Compression →
27 percent
Clouded Judgement
2023
median
Public SaaS companies
Clouded Judgement: Medium-Term Software Valuation Setup →
27 percent
Clouded Judgement
2023
median
Public SaaS companies
Clouded Judgement: Q2 SaaS Earnings Review & Valuation Multiple Analysis →
27 percent
Clouded Judgement
2023
median
Public SaaS companies
Clouded Judgement: Cloud Giants Q2 Update →
27 percent
Clouded Judgement
2023
median
Public SaaS companies
Clouded Judgement: Cloud Giants Q2 Update →
27 percent
Clouded Judgement
2023
median
Public SaaS companies
Clouded Judgement: Cloud Infrastructure Optimization Cycles & Soft Landing Macro Outlook →
27 percent
Clouded Judgement
2023
median
Public SaaS companies in basket
Clouded Judgement: Are Software Companies Bad Businesses? →
27 percent
Clouded Judgement
2023
median
Public SaaS companies analyzed in cohort
Clouded Judgement: Q1 2023 Cloud Software Consumption Trends →
27% percent
Clouded Judgement
2023
median
Public SaaS companies
Clouded Judgement: Q1 2023 SaaS Net New ARR Slowing & Demand Environment Divergence →
26 percent
Clouded Judgement
2022
median
Public cloud software companies
Clouded Judgement →
26 percent
Clouded Judgement
2022
median
Public SaaS companies, April 2022
Clouded Judgement →
26 percent
Clouded Judgement
2022
median
Public SaaS cohort
Clouded Judgement →
26 percent
Clouded Judgement
2022
median
Public SaaS companies (Feb 2022)
Clouded Judgement: SaaS Valuation in the Face of Fed Rate Hikes and Inflation →
26 percent
Clouded Judgement
2022
median
Public SaaS cohort
Clouded Judgement: SaaS Valuation in the Face of Fed Rate Hikes and Inflation →
26 percent
Clouded Judgement
2022
median
Public SaaS companies
Clouded Judgement: SaaS Multiple Compression & Earnings Season Risk in Rising Rate Environment →
26 percent
Clouded Judgement
2021
median
SaaS cohort overall
Clouded Judgement: Q3 2021 SaaS Earnings Recap & Valuation Multiple Analysis →
26 percent
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement →
26 percent
Clouded Judgement
2021
median
Public SaaS cohort
Clouded Judgement →
28 percent
Clouded Judgement
2021
median
Public SaaS companies in cohort
Clouded Judgement →
25 percent
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement →
25 percent
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement: Q2 2021 SaaS Growth Acceleration & Valuation Analysis →
25 percent
Clouded Judgement
2021
median
Public SaaS companies as of Aug 2021
Clouded Judgement →
25 percent
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement →
25% percent
Clouded Judgement
2021
median
SaaS public companies
Clouded Judgement →
25 percent
Clouded Judgement
2021
median
Public SaaS companies as of July 2021
Clouded Judgement →
25 percent
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement: SaaS Valuation Multiples & Earnings Analysis (June 2021) →
25 percent
Clouded Judgement
2021
median
Public SaaS companies in analysis set
Clouded Judgement →
25 percent
Clouded Judgement
2021
median
SaaS public company cohort
Clouded Judgement →
25 percent
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement →
25 percent
Clouded Judgement
2021
median
SaaS public company peer set
Clouded Judgement: SaaS Valuation Multiples Analysis (May 2021) →
25 percent
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement: SaaS Valuation Multiples & Earnings Season Analysis (April 30, 2021) →
25 percent
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement: SaaS Valuation Multiples and Treasury Correlation Analysis →
25 percent
Clouded Judgement
2021
median
Public SaaS cohort
Clouded Judgement →
25 percent
Clouded Judgement
2020
median
Public SaaS companies, October 2020
Clouded Judgement →