PVC SaaS Index™ | Q2 2022 Update

SaaS Multiples Are at a 4-Year Low: Where Do They Go From Here?

Practical Summary:

• Our PVC SaaS Index™ companies trades at just over 8x EV / LTM revenue, lower than at any time since the Q1 2020 market panic that followed the COVID pandemic … and around where SaaS multiples were in 2017–2018
• The median company multiple in our index is down 54% from the peak in late 2020 / early 2021; the top quartile multiple has compressed even further, by 65% (from 31x to 11x)