EV / Revenue Multiple Benchmarks
Public SaaS Companies — 131 companies tracked
Track valuation compression in real-time
BriefStock tracks EV/Revenue multiples as market cap changes daily, alerting you when companies become attractively valued relative to their growth rate.
EV / Revenue — Top 20 Companies
Sorted highest to lowest. Higher multiple reflects growth premium. Dashed line = median.
EV/Revenue (Enterprise Value divided by trailing twelve-month revenue) is the primary valuation multiple for SaaS companies that are not yet profitable. Higher multiples reflect expectations of faster growth, higher margins, or greater competitive moat. The median across all 131 tracked companies is 4.3x as of Q1 2026.
Ranked EV / Revenue Data
What is EV / Revenue?
Enterprise Value divided by trailing 12-month (TTM) revenue is the standard valuation multiple for SaaS companies. EV equals market capitalization plus total debt minus cash and equivalents. Unlike P/E ratios, EV/Revenue can be applied to any SaaS company regardless of profitability — making it the universal comparator across the sector.
Formula: EV / Revenue = (Market Cap + Total Debt − Cash) / TTM Revenue
What good looks like: EV/Revenue multiples vary dramatically by growth rate. A company growing 50%+ YoY can command 15–25x revenue; a company growing 10% typically trades at 3–6x. The "Rule of 40-adjusted multiple" divides EV/Revenue by the Rule of 40 score to normalize for growth/profitability trade-offs. Multiples compress when interest rates rise, since SaaS cash flows are long-duration.
Related guides & definitions
Frequently Asked Questions
What is a good EV/Revenue multiple for a SaaS company?
EV/Revenue multiples vary widely by growth rate. A SaaS company growing 50%+ YoY can command 15–25x revenue. Companies growing 20–30% typically trade at 6–12x. Mature companies growing under 10% often trade at 3–6x. The 'right' multiple depends on growth rate, gross margin, and Rule of 40 score.
Why do SaaS companies trade at high revenue multiples?
SaaS companies trade at high revenue multiples because of their recurring revenue model, high gross margins (70–80%+), and the predictability of contracted ARR. Investors pay a premium for the long-duration cash flows and net revenue retention above 100% that means customers expand spending over time without additional acquisition cost.
How do interest rates affect SaaS EV/Revenue multiples?
Rising interest rates compress SaaS multiples because SaaS cash flows are long-duration — most value lies in future years. Higher discount rates reduce the present value of those future cash flows. From 2021 to 2023, the median public SaaS EV/Revenue multiple fell from ~18x to ~6x as the Fed raised rates from 0% to 5.25%.
Ara Housepian
Founder & Lead SaaS Analyst, Araho Digital
Ara is the founder of Araho Digital and SaaSDB. He has spent over a decade in software development, SaaS operating metrics modeling, and investment data analysis. Ara holds a degree in Computer Science and focuses on building financial tooling and data pipelines that make institutional-grade SaaS benchmarking accessible to growth operators.
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Data sourced from SEC EDGAR filings · Updated daily · As of 2026-05-09
SaaSDB (2026). EV/Revenue Benchmarks — Public SaaS Companies. Retrieved 2026-07-20 from https://saasdb.app/benchmarks/ev-revenue/<a href="https://saasdb.app/benchmarks/ev-revenue/">EV/Revenue Benchmarks — Public SaaS Companies — SaaSDB</a>[EV/Revenue Benchmarks — Public SaaS Companies](https://saasdb.app/benchmarks/ev-revenue/)SaaS benchmarks digest
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