AI valuation multiples you can actually use
575 companies across 15 niches, with public, private, and M&A comps in one working Excel file.
Ten tabs built for valuation, benchmarking, and deal analysis
Each tab answers a different valuation question. Use the summary tabs to frame the market, the niche tabs to build a peer group, and the database to support every number you use with a source.
Summary
Market-level overview with 5 key insights, company type breakdown (public / private / M&A), and full niche multiples table sorted by median EV/Revenue.
Niche
All 15 niches with avg, median, 25th/75th percentile EV/Revenue split by public, private, and M&A — plus niche descriptions and insights.
AI Agents
Deep niche breakdown across 11 AI agent sub-categories — dev tools, strategic anchors, marketing automation, sales ops, healthcare, finance, legal, and more — with avg, median, and percentile ranges.
Core AI
Valuation snapshot for Infrastructure, LLM Vendors, Data Intelligence, Search Engine, and Computer Vision — including EV/Revenue dispersion and capital efficiency analysis.
Applied AI
Niche breakdown across 10 applied AI segments — Cybersecurity, Fintech, Health Tech, HR Tech, Legal Tech, Marketing Tech, Productivity Tools, PropTech, Sales Ops, and AI Robotics.
Funding Stages
Private market multiples from Seed through Series D+ (covering Series D, E, F, G, H, and beyond) — median, average, and 25th/75th percentile EV/Revenue and EV/Funding by stage.
Qtr-o-Qtr
Quarter-over-quarter multiple comparison across all 15 niches — public, private, and M&A averages for Q4 2025 vs Q1 2026, so you can see which segments repriced and by how much.
Database
All 575 companies with EV, revenue, EBITDA, EV/Revenue, EV/Funding, funding stage, niche, AI layer, and source links — the full working dataset behind every analysis tab.
Methodology & documentation
Source notes, data methodology, usage terms, and citation guidance — structured for internal work and client-facing materials.
Start Here
A brief orientation tab explaining what the dataset includes, how the tabs connect, and how to navigate the file — useful for first-time users and teams sharing the file internally.
A direct preview from the dataset
This is the level of detail inside the file, with structured outputs across major AI segments.
Valuation snapshot by niche
575 companies · Q1 2026 · EV/Revenue
| Niche | Companies | Avg EV/Rev | Median EV/Rev | 25th–75th | Avg Funding |
|---|---|---|---|---|---|
| LLM Vendors | 27 | 73.5x | 39.5x | 16.7x–75.9x | $12,419M |
| Search Engine | 11 | 40.7x | 36.9x | 25.8x–51.4x | $389M |
| Infrastructure | 116 | 31.3x | 21.2x | 10.2x–39.6x | $260M |
| Data Intelligence | 68 | 31.9x | 14.3x | 7.6x–36.7x | $1,045M |
| Marketing Tech | 60 | 30.3x | 9.6x | 5.4x–24.4x | $131M |
| Health Tech | 54 | 23.8x | 16.4x | 6.4x–36.0x | $226M |
| Company | Niche | Type | EV ($M) | Revenue ($M) | EV/Rev |
|---|---|---|---|---|---|
| OpenAI | LLM Vendors | Private | $300,000 | $3,700 | 81.1x |
| Palantir | Data Intelligence | Public | $58,400 | $2,870 | 20.3x |
| Snowflake | Data Intelligence | Public | $41,200 | $3,630 | 11.4x |
| Anthropic | LLM Vendors | Private | $61,500 | $875 | 70.3x |
| Scale AI | Data Intelligence | Private | $13,800 | $870 | 15.9x |
| Cohere | LLM Vendors | Private | $5,500 | $210 | 26.2x |
| Niche | Deals | M&A Avg EV/Rev | vs Public Avg | vs Private Avg |
|---|---|---|---|---|
| Data Intelligence | 23 | 36.2x | +84.4% | +13.8% |
| LLM Vendors | 3 | 54.8x | −10.2% | −31.3% |
| Cybersecurity | 16 | 21.5x | +81.5% | +49.4% |
| Infrastructure | 30 | 26.4x | −15.4% | −20.5% |
| Health Tech | 7 | 26.8x | +15.5% | +15.3% |
| Computer Vision | 13 | 11.9x | +17.7% | −27.0% |
| Stage | Companies | Median EV/Rev | Avg EV/Rev | 25th–75th EV/Rev |
|---|---|---|---|---|
| Seed | 105 | 11.5x | 20.2x | 5.2x–25.3x |
| Series A | 80 | 18.2x | 36.8x | 8.7x–39.9x |
| Series B | 82 | 14.3x | 30.9x | 7.5x–33.0x |
| Series C | 65 | 17.0x | 26.9x | 10.3x–34.2x |
| Series D+ | 77 | 20.3x | 33.7x | 10.6x–32.9x |
* Illustrative preview. The full dataset contains 575 companies with source links and working analysis tabs.
Built for people doing live AI valuation work
This is not a lightweight market summary. It is a working file for professionals who need current numbers, clean AI niche segmentation, and a peer set they can defend.
Startup CFOs & founders
Frame internal valuation ahead of a fundraise and understand how stage, business model, and AI niche affect your trading range before entering investor conversations.
VC & PE analysts
Build AI comp sets faster, filter by niche and stage, and arrive at IC discussions with the benchmark work already done — segmented by infrastructure, agents, vertical AI, and more.
M&A advisors
Understand transaction premiums and discounts versus public AI benchmarks, and separate strategic value from market noise in a rapidly repricing sector.
Valuers & accountants
Support share issuances, ESOP work, impairment testing, or investor reporting with a current and source-linked AI comparable set across 15 niches.
Used in live valuation and transaction work
Collected through post-purchase feedback and shared without attribution.
We used the dataset to come up with an internal valuation and it helped us confirm assumptions we had been relying on anecdotally. Having structured comp sets by AI niche made the difference.
Exactly what I needed to build a defensible comparable set for an AI infrastructure client. The niche segmentation meant I wasn't averaging across companies that aren't genuinely comparable.
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- 575 companies across 15 AI niches
- 47 public · 399 private · 129 M&A transactions
- Funding stage breakdown: Seed through Series D+
- Source links for every data point
- Niche tagging: agents, infra, vertical AI, dev tools, security & more
- Methodology and documentation included
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