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Public Comps and Valuation Multiples for Financial Services Software

Benchmark revenue and EBITDA valuation multiples for public comps like
S&P Global, Moody's, Constellation Software, Fair Isaac and Verisk Analytics.

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Financial Services Software

Viewing 50 of 115 companies with full data

Company	Market Cap	Enterprise Value	LTM Revenue	EV/LTM Revenue	EV/LTM EBITDA
S&P Global	$132B	$144B	$16B	9.3x	18.1x
Moody's	$83B	$88B	$8B	11.2x	21.8x
Constellation Software	$40B	$43B	$12B	3.6x	12.6x
Fair Isaac	$33B	$36B	$2B	16.5x	28.5x
Verisk Analytics	$30B	$32B	$3B	10.4x	18.6x
HiThink	$26B	$25B	$876M	28.9x	59.5x
Fidelity Information Services	$26B	$38B	$11B	3.4x	8.4x
Broadridge	$22B	$25B	$7B	3.4x	14.0x
SS&C Technologies	$18B	$26B	$6B	4.0x	10.2x
Guidewire	$13B	$12B	$1B	9.2x	43.1x
Computershare	$12B	$13B	$3B	4.0x	10.2x
Beijing Compass Technology	$10B	$9B	$326M	26.6x	—
Hundsun	$8B	$8B	$903M	8.9x	45.8x
FactSet	$8B	$9B	$2B	3.9x	10.0x
Morningstar	$7B	$8B	$2B	3.2x	11.1x
Clearwater Analytics	$7B	$8B	$772M	9.9x	29.0x
Oracle Financial Services	$7B	$6B	$810M	7.4x	16.9x
Temenos	$6B	$7B	$1B	6.3x	16.1x
Allfunds	$6B	$5B	$748M	7.2x	11.3x
Topicus	$6B	$6B	$2B	3.4x	12.1x
Sinar Mas Multiartha	$5B	$5B	—	—	—
Shenzhen Fortune Trend	$5B	$4B	$66M	66.0x	70.9x
ACI Worldwide	$4B	$5B	$2B	2.7x	9.5x
Servyou Software Group	$4B	$4B	$343M	11.0x	92.5x
NCR Atleos	$4B	$6B	$4B	1.4x	7.3x
Q2 Holdings	$3B	$3B	$810M	3.8x	15.7x
Bread Financial	$3B	$7B	$4B	1.9x	—
Diebold Nixdorf	$3B	$3B	$4B	0.9x	6.8x
Aisino	$3B	$2B	—	—	—
CorVel	$3B	$2B	—	—	—
TietoEVRY	$3B	$3B	$2B	1.5x	9.5x
AJ Bell	$2B	$2B	$444M	4.6x	11.0x
Intapp	$2B	$2B	$552M	3.6x	18.7x
iFAST Corp	$2B	$1B	$422M	2.8x	9.0x
Shenzhen Kingdom Sci-tech	$2B	$2B	$490M	3.8x	—
Computer Age Management Services	$2B	$2B	$165M	11.1x	24.8x
Ncino	$2B	$2B	$598M	3.4x	15.1x
PEXA Group	$2B	$2B	$278M	7.1x	20.4x
Alkami Technology	$2B	$2B	$460M	4.4x	30.6x
Douzone Bizon	$2B	$2B	$312M	5.9x	15.9x
Shenzhen Sunline	$2B	$2B	—	—	—
eFinance	$1B	$1B	—	—	—
Sinodata	$1B	$1B	—	—	—
Donnelley Financial Solutions	$1B	$1B	$771M	1.9x	6.0x
Zigup	$1B	$2B	$2B	1.0x	3.7x
Global Infotech	$1B	$1B	—	—	—
Client Service International	$1B	$1B	—	—	—
Sunyard Technology	$1B	$1B	—	—	—
Abaxx Technologies	$1B	$1B	$2M	514.3x	(33.7x)
Fujian Apex Software	$1B	$921M	—	—	—
Intellect Design Arena Ltd	$1B	$X.XB	$322M	X.Xx	X.Xx
Vitec Software	$1B	$X.XB	$412M	X.Xx	X.Xx
IRESS	$950M	$X.XB	$393M	X.Xx	X.Xx
JinXianDai Information	$947M	$X.XB	—	X.Xx	X.Xx
Pagaya	$900M	$X.XB	$1B	X.Xx	X.Xx
Porch Group	$874M	$X.XB	$431M	X.Xx	X.Xx
Linkage Software	$827M	$X.XB	—	X.Xx	X.Xx
Shanghai Amarsoft	$821M	$X.XB	—	X.Xx	X.Xx
Brilliance Technology	$799M	$X.XB	—	X.Xx	X.Xx
Alfa Financial Software	$753M	$X.XB	$172M	X.Xx	X.Xx
Systex Fintech	$676M	$X.XB	—	X.Xx	X.Xx
Bravura Solutions	$637M	$X.XB	$190M	X.Xx	X.Xx
Forge Global	$623M	$X.XB	$107M	X.Xx	X.Xx
FINEOS	$613M	$X.XB	$165M	X.Xx	X.Xx
AMTD Digital	$550M	$X.XB	—	X.Xx	X.Xx
Aurionpro Solutions	$539M	$X.XB	$160M	X.Xx	X.Xx
i3 Verticals	$523M	$X.XB	$220M	X.Xx	X.Xx
Qualco Group	$451M	$X.XB	$259M	X.Xx	X.Xx
Blend Labs	$436M	$X.XB	$128M	X.Xx	X.Xx
Hightech Payment Systems	$426M	$X.XB	$168M	X.Xx	X.Xx
Automated Bank Services	$341M	$X.XB	—	X.Xx	X.Xx
Leonteq	$316M	$X.XB	$237M	X.Xx	X.Xx
63 Moons	$304M	$X.XB	—	X.Xx	X.Xx
Datawalk	$273M	$X.XB	—	X.Xx	X.Xx
Network People Services	$260M	$X.XB	—	X.Xx	X.Xx
Praemium	$255M	$X.XB	$76M	X.Xx	X.Xx
Nucleus Software Exports	$230M	$X.XB	$95M	X.Xx	X.Xx
Linedata Services	$224M	$X.XB	$202M	X.Xx	X.Xx
Profile Software	$189M	$X.XB	$61M	X.Xx	X.Xx
Beeks Group	$189M	$X.XB	$52M	X.Xx	X.Xx
wrkr	$188M	$X.XB	$9M	X.Xx	X.Xx
Msg Life	$179M	$X.XB	—	X.Xx	X.Xx
Intelligent Wave	$167M	$X.XB	$106M	X.Xx	X.Xx
WonderFi	$156M	$X.XB	—	X.Xx	X.Xx
CSU Digital	$150M	$X.XB	—	X.Xx	X.Xx
Formpipe Software	$138M	$X.XB	$34M	X.Xx	X.Xx
Roadzen	$108M	$X.XB	$57M	X.Xx	X.Xx
Health In Tech	$96M	$X.XB	$34M	X.Xx	X.Xx
Spectra Systems	$89M	$X.XB	—	X.Xx	X.Xx
XBP Europe	$88M	$X.XB	—	X.Xx	X.Xx
RS2	$86M	$X.XB	—	X.Xx	X.Xx
Matica Fintec	$74M	$X.XB	—	X.Xx	X.Xx
Veefin	$67M	$X.XB	—	X.Xx	X.Xx
Cheche Group	$64M	$X.XB	—	X.Xx	X.Xx
Ailleron	$60M	$X.XB	$167M	X.Xx	X.Xx
Matriks	$51M	$X.XB	—	X.Xx	X.Xx
GetBusy	$47M	$X.XB	$30M	X.Xx	X.Xx
AmeriTrust	$43M	$X.XB	$2M	X.Xx	X.Xx
NETSOL Technologies	$41M	$X.XB	—	X.Xx	X.Xx
Change Financial	$41M	$X.XB	$17M	X.Xx	X.Xx
Tracxn	$37M	$X.XB	—	X.Xx	X.Xx
Censof Holdings Bhd	$28M	$X.XB	—	X.Xx	X.Xx
Nord Insuretech Group	$27M	$X.XB	—	X.Xx	X.Xx
Rubean	$27M	$X.XB	—	X.Xx	X.Xx
Insig AI	$25M	$X.XB	—	X.Xx	X.Xx
NamSys	$24M	$X.XB	—	X.Xx	X.Xx
Aijinet	$23M	$X.XB	—	X.Xx	X.Xx
Greater Than	$22M	$X.XB	—	X.Xx	X.Xx
Crunchfish	$22M	$X.XB	$283K	X.Xx	X.Xx
Keyware	$20M	$X.XB	—	X.Xx	X.Xx
Tick Trading Software	$19M	$X.XB	—	X.Xx	X.Xx
Huddlestock	$17M	$X.XB	—	X.Xx	X.Xx
B+S Banksysteme	$14M	$X.XB	$15M	X.Xx	X.Xx
Boleron	$4M	$X.XB	—	X.Xx	X.Xx
Sapiens	—	$X.XB	—	X.Xx	X.Xx