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)



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Aman Verjee

Aman Verjee


Former C-suite at PayPal, Sonos, eBay. Now general partner & founder at Practical VC, a secondary venture capital fund.