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EV / NTM Revenue Multiples

Clouded Judgement (Altimeter)October 2026
EV / NTM Revenue Multiples
Chart by Clouded Judgement (Altimeter). Source: cloudedjudgement.substack.com

Line chart showing cloud software EV/NTM revenue multiples from January 2015 through September 2026, comparing the overall median to the top 5 median.

LabelValue shown on the chart
Top 5 Median37.3x
Median4.3x

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View the original on cloudedjudgement.substack.com

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