Public Software Valuation Multiples March 2026: All SaaS Collapses to 2.6x EV/Revenue — Extreme Dispersion From DevOps at 6.8x to AdTech at 0.8x

Multiples.vc·medium signal

Multiples.vc's March 2026 data shows the all-SaaS average has compressed to 2.6x EV/NTM Revenue and 10.6x EV/NTM EBITDA, with extreme valuation dispersion reflecting AI's creative destruction. DevOps leads at 6.8x revenue, data infrastructure at 5.8x, and design/engineering at 3.5x, while AdTech has cratered to 0.8x, video/streaming to 1.6x, and communication/collaboration to 1.9x — the market is surgically pricing which software categories AI agents can replace versus which have defensible moats.