The recent Catapult results sent me back to the Software Equity Group (SEG) SaaS index / Rule of 40 tracker I use for cross checking SaaS company valuations, so I thought I’d share the resource. There is a bit of M&A coverage you have to get past but they publish quarterly and annual reports plus a live valuation tracker (with a list of companies and their metrics that can be sorted) here:

https://softwareequity.com/saas-index

Catapult report showed 31% on the Rule of 40 (so, Rule of 30…). (If you plug in SEG's weighted average calculation), you still end up in the low-30s. After today’s move CAT is ~7x LTM revenue, and software equity groups tracker sits at a median valuation of~6x EV/Revenue median on for "rule of 30" companies.

Purely comparing valuations from SEG, Catapult still looks to be valued slightly above the median having just entered "rule of 30". Different gravy if they can achieve rule of 40..