What companies are actually worth
EV / Revenue multiples across 4,500+ exit and VC deals from 2015–2025. Cut by revenue growth, deal size, geography and sector — paired with year-by-year quartile trajectories so you can see how the bar moves with the cycle.
Where the multiple actually sits
Median EV / Revenue across the segments that matter most: revenue growth at deal time, ticket size, geography, and sector. Bars show the median; the count on the right is the number of deals in the bucket. Buckets with fewer than 3 deals are dropped.
How the multiple moves with the cycle
Bottom quartile, median and top quartile EV / Revenue per year. The shaded band is the inter-quartile range — when it widens, the spread between average and excellent deals is widening too.
North America still carries a premium
Median EV / Revenue per year for North America, Europe and Asia. Use the toggle to compare medians or top-quartile deals — the spread is what tells you whether the premium is broad-based or driven by a handful of outliers.
How the numbers come together
One row per deal, sourced from the Dealroom Multiples sheet. The page applies the same baseline cut as the Cursor prototype so the universe stays apples-to-apples across views.
The multiple
Exit rounds use EV / Revenue at exit. VC rounds default to post-money EV / Revenue, with a toggle for pre-money. Quartiles are computed nearest-rank on the sorted list of multiples — no interpolation, so each quartile sits on a real deal.
Baseline filters
- Founded 1990 or later
- $5M+ peak revenue in the sheet's revenue history
- EV / Revenue ≤ 300×
- Tagged "Outside Tech" rows excluded
Bucketing
Revenue growth is computed as the latest non-null year over the previous non-null year in the revenue history. Deal size is the round_amount_usd at the time of the deal. Geography uses the company's HQ continent / country. Buckets with fewer than 3 deals are dropped from segment charts to keep medians honest.
Source
The Dealroom Multiples & Valuations source dataset has one row per deal and is refreshed regularly from the Dealroom database. Run node scripts/build-multiples-data.mjs to regenerate this page's data.
Outliers
Multiples above 2,500× are dropped at the parser stage — they're almost always pre-money valuations that leaked into the multiple column. The page-level 300× cap drops the remainder of the long tail so quartiles aren't skewed by a single blow-up.
Want more?
The same data powers our companion charts — see exit multiples by year, VC multiples by year, and multiples by round stage.
Track multiples across your portfolio
Dealroom's platform tracks EV / Revenue, ARR and revenue trajectories across 4M+ private companies. Use it to benchmark portfolio companies, pre-empt valuation conversations, and find the right comps.