Welcome to the latest edition of the Silverpeak Benchmark report – a review of public software company valuation and operating metrics in the US and Europe.
We review median values to produce a robust industry reference benchmark. We screen US and European publicly listed software companies using the S&P Capital IQ database. Our insights and conclusions are derived from this S&P dataset, which consists of 577 companies.
Key findings:
- US maintains valuation premium over Europe with Nordics leading European peers
- While the broader IPO market continues to rebound, this trend has yet to meaningfully reach the software sector, with just two new listings added to our dataset in Q3
- Security software outperformed in Q3, supported by sustained enterprise demand as organisations adopting AI tools face heightened exposure to cyber risks