Software Equity Group

Software Equity Group 3Q22 SaaS Public Market Update

Median SaaS EV/Revenue Multiples Decline 62% Since Q3 2021

John Mecke
3 min readOct 24, 2022

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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 110 publicly traded SaaS companies. They recently published their SEG Snapshot: 3Q22 SaaS Public Market Update -you can download it for free here. It provides a ton of data on SaaS valuations and financial operating metrics. The Median SaaS company Enterprise Value/Revenue multiple declined another 10% since Q2 and a whopping 62% since September 2021. I have extracted a few key data points including:

  • Median EV/Revenue Multiple, by Quarter, 3Q17 to 3Q22
  • % M&A Deals Driven by Private Equity
  • SEG SaaS Index, Median Metrics 3Q21 to 3Q22
  • 2022 Monthly Median SaaS EV/Revenue Multiples
  • 3Q22 Median SaaS Category TTM Revenue Growth
  • 3Q22 Median SaaS Category EV/Revenue Multiples
  • SEG SaaS Index Q322 Top 25% by EV/Revenue
  • SEG SaaS Index Q322 Bottom 25% by EV/Revenue

Median EV/Revenue Multiple, by Quarter, 3Q17 to 3Q22

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John Mecke

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