Vertical Applications

Construction & real estate; hospitality & restaurants; retail; education; legal; public sector; financial-services software; industry-specific healthcare software.

Vertical Applications multiples over time
NTM Growth %
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EV / NTM Rev (x)
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Mkt Cap ($B)
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Showing 26 of 26 companies
Company Mkt Cap EV EV / LTM Rev EV / NTM Rev EV / LTM EBITDA EV / NTM EBITDA NTM Growth Gross Margin EBITDA Margin FCF Margin Rule of 40
Median4.8x3.9x32.7x15.4x20.6%68.9%11.7%17.1%40.4%
Mean5.5x4.3x137.3x26.2x24.5%65.8%9.5%15.6%40.1%
AXONAxon Enterprise, Inc.$48.29B$49.40B17.8x11.5x251.6x126.8x54.4%59.3%12.9%0.7%55.1%
VEEVVeeva Systems Inc.$34.26B$27.05B8.5x7.0x21.7x22.7x21.1%75.0%39.2%51.4%72.6%
IOTSamsara Inc.$22.25B$21.51B13.3x9.7x862.0x21.0x36.6%76.2%5.6%14.5%51.1%
TRMBTrimble Inc.$13.81B$14.99B4.2x3.7x19.6x12.5x13.7%68.1%22.2%7.0%20.8%
GWREGuidewire Software, Inc.$13.34B$13.29B11.1x7.8x153.9x42.1%64.0%14.7%21.2%63.3%
TYLTyler Technologies, Inc.$12.69B$13.18B5.6x5.0x24.3x18.9x13.8%46.6%19.7%30.6%44.5%
BSYBentley Systems, Incorporated$10.52B$11.58B7.7x6.4x27.0x16.2x20.2%81.6%31.3%32.7%52.9%
PCORProcore Technologies, Inc.$8.50B$7.91B6.0x4.8x445.5x11.4x23.9%79.8%4.2%22.2%46.1%
TTANServiceTitan, Inc.$8.10B$7.73B8.0x6.3x25.5x27.1%70.9%-4.4%10.2%37.3%
APPFAppFolio Inc.$7.01B$6.82B7.2x5.5x37.1x14.5x30.4%63.0%19.9%28.3%58.7%
QTWOQ2 Holdings, Inc.$3.97B$3.91B4.9x4.2x30.1x132.0x18.0%57.0%17.1%25.5%43.5%
AGYSAgilysys, Inc.$3.13B$3.03B9.5x7.7x51.6x25.7x23.0%62.3%19.5%25.2%48.2%
SPSCSPS Commerce, Inc.$2.67B$2.51B3.3x3.1x14.2x13.8x9.2%69.8%23.7%26.4%35.7%
INTAIntapp, Inc.$2.54B$2.41B4.8x3.6x366.9x32.1%75.0%-1.6%24.0%56.0%
NCNOnCino, Inc.$2.12B$2.35B3.9x3.5x35.3x8.6x13.3%60.7%11.8%18.6%31.9%
EVCMEverCommerce Inc.$2.08B$2.47B4.2x3.9x19.5x26.7x8.6%75.0%21.0%14.4%23.0%
BLKBBlackbaud, Inc.$2.05B$3.16B2.8x2.6x11.1x8.2x7.2%59.6%28.0%24.7%31.9%
ALKTAlkami Technology, Inc.$2.00B$2.28B5.1x3.9x21.0x31.4%57.0%-1.8%14.7%46.1%
LSPDLightspeed Commerce Inc.$1.42B$1.07B0.9x0.8x133.6x7.6%39.4%1.7%3.5%11.1%
COURCoursera, Inc.$1.10B$129M0.2x0.1x0.4x86.6%55.9%-14.5%3.8%90.4%
VTEXVtex$787M$595M2.5x2.1x23.1x3.8x17.9%78.2%11.6%16.2%34.1%
WEAVWeave Communications, Inc.$545M$523M2.2x1.7x7.3x25.5%72.3%-3.0%4.0%29.5%
DCBODocebo Inc.$520M$541M2.2x1.9x19.5x6.0x19.2%79.8%10.1%18.0%37.2%
BLNDBlend Labs, Inc.$481M$585M4.7x4.2x199.0x13.7%74.9%3.5%-7.8%5.9%
LAWCS Disco, Inc.$264M$168M1.1x0.9x18.9%74.9%-22.5%-12.3%6.6%
SMRTSmartRent, Inc.$199M$105M0.7x0.6x21.1%34.4%-24.2%-12.2%9.0%