Software Equity Group 2023 Annual SaaS Report

Median valuations declined 54% from 2021

John Mecke
3 min readJan 23, 2023

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The Software Equity Group (SEG) regularly publishes quantitative research on the software and SaaS market M&A activity. The SEG SaaS Index contains dozens of publicly traded SaaS companies. They recently published their SEG 2023 Annual SaaS Report. It provides a ton of data on SaaS valuations and financial operating metrics. The impact of the market downturn can be clearly seen across all categories of SaaS.

I have extracted a few key data points including:

  • SEG SaaS Index: YTD Stock Market Performance
  • SEG SaaS Index: Public Market Multiples
  • TTM Revenue Growth Rate Distribution
  • SEG SaaS Index: Public Market Multiples Monthly TTM
  • SEG SaaS Index: Financial Performance
  • Select Companies by Weighted Rule of 40%
  • Median TTM Revenue Growth by SaaS Category
  • Median EV/TTM Revenue Multiple by SaaS Category
  • SEG SaaS Index: Top 20 By EV/TTM Revenue
  • SEG SaaS Index: Bottom 20 By EV/TTM Revenue
  • M&A Volume: Overall Software Industry
  • SaaS M&A Highlights: Deal Volume
  • SaaS M&A Highlights: Top Product Categories By Deal Volume

SEG SaaS Index: YTD Stock Market Performance

SEG 2023 Annual SaaS Report

SEG SaaS Index: Public Market Multiples

SEG 2023 Annual SaaS Report

TTM Revenue Growth Rate Distribution

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John Mecke

John has over 25 years of experience in leading product management and corporate development organizations for enterprise firms.