Public SaaS Valuations
Valuation benchmarks for public SaaS companies. Data for Q2 2026.
| Company | Market Cap | ARR Multiple | Revenue | Growth | Gross Margin | Op. Margin | AI Risk |
|---|---|---|---|---|---|---|---|
Clearwater Analytics Holdings, Inc.(CWAN) | 7.2B | 8.1x | 221.2M↑ 3.8M | 1.7%↓ -4.3% | 65.8%↓ -1.4% | 4.1%↑ +7.2% | 9/100 |
Navan, Inc.(NAVN) | 7.0B | 7.9x | 220.2M↑ 42.3M | 23.8%↑ +32.5% | 74.0%↑ +3.3% | -8.2%↑ +42.1% | 14/100 |
Okta, Inc.(OKTA) | 21.1B | 6.9x | 765.0M↑ 4.0M | 0.5%↓ -2.0% | 77.8%↓ -0.1% | 7.3%↑ +1.3% | 9/100 |
ServiceNow, Inc.(NOW) | 109.2B | 6.8x | 4.0B↑ 217.0M | 5.8%↑ +0.1% | 70.7%↓ -4.4% | 4.1%↓ -9.3% | 19/100 |
Paylocity Holding Corp(PCTY) | 7.8B | 4.4x | 444.7M↓ -57.6M | -11.5%↓ -32.2% | 67.5%↓ -4.8% | 19.0%↓ -12.3% | 17/100 |
Workday, Inc.(WDAY) | 36.7B | 3.6x | 2.5B↑ 10.0M | 0.4%↓ -3.7% | 0.0%↑ +0.0% | 13.3%↑ +6.4% | 13/100 |
PEGASYSTEMS INC(PEGA) | 5.5B | 3.2x | 420.7M↓ -9.3M | -2.1%↓ -14.9% | 74.3%↓ -0.8% | 4.0%↓ -4.7% | 19/100 |
Paycom Software, Inc.(PAYC) | 7.1B | 3.1x | 571.9M↑ 27.6M | 5.1%↓ -5.3% | 84.7%↑ +0.8% | 36.8%↑ +7.9% | 17/100 |
BILL Holdings, Inc.(BILL) | 4.7B | 2.9x | 406.6M↓ -8.1M | -2.0%↓ -6.7% | 81.6%↑ +1.8% | -0.1%↑ +4.3% | 22/100 |
SS&C Technologies Holdings Inc(SSNC) | 19.2B | 2.8x | 1.7B↑ 48.6M | 3.0%↑ +3.3% | 48.3%↓ -0.4% | 24.6%↑ +0.4% | 9/100 |
DOCUSIGN, INC.(DOCU) | 9.3B | 2.8x | 830.2M↓ -6.6M | -0.8%↓ -3.0% | 79.4%↓ -0.3% | 13.4%↑ +2.9% | 23/100 |
INTUIT INC.(INTU) | 81.9B | 2.4x | 8.6B↑ 3.9B | 84.0%↑ +64.3% | 0.0%↑ +0.0% | 47.0%↑ +28.6% | 9/100 |
ASURE SOFTWARE INC(ASUR) | 253.3M | 1.7x | 37.1M↓ -5.6M | -13.2%↓ -31.1% | 67.5%↓ -3.8% | -6.5%↓ -11.9% | 31/100 |
Expensify, Inc.(EXFY) | 180.9M | 1.3x | 34.0M↓ -1.1M | -3.1%↓ -1.2% | 47.6%↓ -2.0% | -5.8%↑ +0.6% | 22/100 |
OPEN TEXT CORP(OTEX) | 6.6B | 1.3x | 1.3B↓ -44.2M | -3.3%↓ -6.3% | 73.1%↓ -0.9% | 15.7%↓ -6.3% | 26/100 |
CSG SYSTEMS INTERNATIONAL INC(CSGS) | — | — | — | — | — | — | 16/100 |
OneStream, Inc.(OS) | — | — | — | — | — | — | 9/100 |
Vertex, Inc.(VERX) | — | — | — | — | — | — | 9/100 |
SEC filings often mix pure quarterly figures (3 months) with year-to-date (YTD) figures (6 months in Q2, 9 months in Q3) in their 10-Q reports. In this case, the results are normalized to a 3-month period.