ValuationUpdated March 2026·8 min read

SaaS valuation multiples in 2026

Current SaaS valuation multiples by revenue band, growth, and category — from 312 comparable deals closed in the last 12 months.

Primary keyword

SaaS valuation multiples 2026

Search intent

Buyer or seller wants a market benchmark for their multiple.

TL;DR

Micro-SaaS (<$500k ARR): 2.6x–4.2x SDE.
Mid-SaaS ($500k–$5M ARR): 3.0x–5.5x ARR for growers; 5x–8x EBITDA for plateaued.
AI-native SaaS: +0.4x premium if retention >92%, −0.5x haircut if inference is >20% of revenue.

By revenue band

Under $100k ARR: 2.2x–3.0x SDE. Buyer pool is other solo founders; competition is thin. $100k–$500k: 2.6x–4.2x SDE, deepest buyer pool, cleanest close. $500k–$1M: transition zone, negotiated in both SDE and ARR. $1M–$5M: 3x–5.5x ARR is the working range.

By category

Vertical SaaS: highest multiples (+0.5x) due to defensibility. Horizontal productivity: pressured (−0.3x) by AI substitution risk. AI agents: highest variance, from 1.5x for OpenAI-wrapper listings to 6x+ for defensible workflow agents.

FAQs

Are multiples up or down vs 2024?

Micro-SaaS multiples are ~15% higher than 2024 trough. AI-native has compressed for wrappers, expanded for workflow tools.

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