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Median SaaS Operating Metrics

Median SaaS Operating Metrics
Chart by Sapphire Ventures. Source: sapphireventures.com

Table displaying median SaaS operating metrics across EV/CY26E Revenue valuation cohorts in 2025. Higher valuation cohorts generally demonstrate higher revenue growth, Rule of 40 scores, and net dollar retention.

LabelValue shown on the chart
Company Count (0.0x - 5.0x)73
Company Count (5.0x - 7.5x)15
Company Count (7.5x - 10x)10
Company Count (10x+)12
Rev. Growth (0.0x - 5.0x)9%
Rev. Growth (10x+)22%
FCF Margin (0.0x - 5.0x)18%
FCF Margin (10x+)25%
Rule of 40 (0.0x - 5.0x)29%
Rule of 40 (10x+)48%
Net Dollar Retention (0.0x - 5.0x)105%
Net Dollar Retention (10x+)120%

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