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November 2021

Software Engineering

Trailing-twelve-month revenue growth for major, public Software Engineering players had an outstanding average of 25.0% as of November 29, 2021. Companies operating in this space, such as Infosys, Capgemini, Globant, Endava, and more, have all seen their trading multiples reach all-time highs or just south of them. Ever since the lowest multiple trading average in recent years in July of 2020, major Software Engineering companies have slowly but surely risen and aren’t indicating stopping anytime this year. Also interestingly, the M&A market landscape has seen transaction volumes increase year-over-year modestly but consistently since 2017.