Download PDF

March 2022

Cybersecurity & Security Services

Despite the overall market experiencing declines, the Cybersecurity and Security Services market has seen strong growth, especially in revenue and EBITDA multiples. Both multiples are far above their five-year averages, especially EBITDA, which has seen exponential growth in the past three months to reach an all-time high of above 80x. Leading this trend are companies like Varonis Systems, CyberArk Software, and Rapid7, all of which have EBITDA multiples north of 120x, all while still seeing their EBITDA year-over-year growth in line with industry averages.