PVC SaaS Index™ | Q3 2020: “You Get What You Pay For”

Practical Summary:

• Our PVC Index of SaaS companies now trades at over 11x EV / LTM revenues
• More recent IPOs (post 2016) are at 18x
• This group of 51 companies ($680B market cap) is growing at a median 34% yoy growth rate
• This may be the first time ever that an entire sector in the public market has seen this kind of sustained growth

EV / LTM multiples for SaaS companies