EV/Revenue and EV/EBITDA valuation multiples across digital business sectors. Use this as a reference point when assessing acquisition targets or preparing for a sale process.
| Sector / Sub-Sector | Category | EV / Revenue (Low) | EV / Revenue (High) | EV / EBITDA (Low) | EV / EBITDA (High) | Key Driver | Trend |
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Multiples shown reflect observed transaction ranges for private digital business acquisitions in the $1M to $100M enterprise value range. They are based on Acquiry's transaction experience, publicly disclosed comparable transactions, and broker market data. Multiples vary significantly based on growth rate, customer concentration, churn, management depth, and deal structure.
Enterprise Value divided by trailing twelve months (TTM) revenue. Used when EBITDA is negative or not meaningful. Common for high-growth SaaS and early-stage fintech.
Enterprise Value divided by EBITDA. The primary valuation metric for profitable businesses. Normalises for capital structure and non-cash charges. Most relevant for mature, cash-generative businesses.
ARR growth rate, net revenue retention, gross margin, customer concentration, management team quality, and market size are the primary factors that push multiples toward the high end of each range.
A comprehensive review of the empirical literature on valuation discounts applied to privately held business interests, including restricted stock studies, pre-IPO studies, and option pricing models. Covers all major named studies from the SEC Institutional Investor Study (1971) through to current quantitative models.
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Talk to AcquiryMultiples shown are indicative ranges based on observed private market transactions and publicly available comparable data. They do not constitute financial advice. Actual transaction multiples vary materially based on deal-specific factors. © Acquiry Pty Ltd. All rights reserved.