SaaS valuation has three separate questions. 'What's it worth and what should I improve?' is a factor-model question (EvalyMe, Acquire.com's calculator). 'What would it sell for?' is a marketplace-comps question (Acquire.com, Flippa). 'What's a share worth for options?' is a 409(a) question (Eqvista, 409.AI). Founders get burned when they use one tool's answer for a different question.
- Estimate + improvement loop
- EvalyMe — MRR/churn-native factor model, free calculator, $14.99/mo Pro with playbooks.
- Market-calibrated selling price
- Acquire.com's valuation tool — grounded in closed SaaS acquisitions.
- Quick marketplace check
- Flippa — free instant valuation for online businesses including small SaaS.
- Option grants (409(a))
- Eqvista from $990 or 409.AI from $899 — compliance, not curiosity.
The picks at a glance
| Tool | Question it answers | Price | The honest catch |
|---|---|---|---|
| EvalyMe | What's it worth, and what's capping it? | $0 calculator · Pro $14.99/mo | Directional model, not market comps |
| Acquire.com valuation | What do closed SaaS deals go for? | Free; seller plans vary | Marketplace funnel; comps skew to their deal sizes |
| Flippa | What would this sell for on a marketplace? | Free | Broader, noisier market than pure SaaS |
| Eqvista / 409.AI | What's a common share worth for options? | $990 / $899 per engagement | Answers an IRS question, not a sale question |
The three questions founders confuse
Operating value: what the business is worth as a running machine — a function of revenue, growth, churn, and unit economics. This is the number you can actually move, which makes it the most useful one for a founder who isn't selling this year.
Market price: what a buyer pays — set by comps, strategic fit, and negotiation more than by any formula. Marketplaces that close deals are the closest thing to ground truth for sub-$5M SaaS.
Compliance value: the 409(a), which exists for option pricing. Expensive, signed by analysts, and almost irrelevant to a sale — buyers build their own models.
1.EvalyMe ours
- Best for
- The operating-value question, answered weekly
- Price
- Calculator free, no signup · Pro $14.99/mo
- Platform
- Web + native iOS and Android apps
- Distinctive bit
- Churn and LTV/CAC as first-class multiple adjustments
Our model starts from a base multiple per monetization type (subscriptions at the top), then adjusts for growth, churn, LTV/CAC, and age — the same levers a SaaS buyer diligences. The six-factor operating score names your weakest input, and Pro's 30/60/90-day playbooks turn it into tasks. The formula is published; you don't have to trust a black box.
The catch: we don't ingest private transaction data. For "what will a buyer actually pay," marketplaces beat models.
2.Acquire.com's valuation tool
- Best for
- The market-price question for SaaS
- Price
- Free valuation; seller subscription plans vary
- Distinctive bit
- Grounded in closed SaaS acquisitions, not projections
Acquire.com states its calculator draws on thousands of closed acquisitions — real SaaS exits, not theory. We link to it from our own methodology page because a comps-grounded number is a healthy counterweight to any factor model, including ours.
The catch: it's the top of a marketplace funnel, and their comps reflect their segment of the market. Treat it as one strong data point, not gospel.
3.Flippa's valuation tool
- Best for
- A fast second market opinion
- Price
- Free and unlimited
- Distinctive bit
- The largest online-business marketplace behind the number
For small SaaS and indie products, Flippa's instant estimate leans on live marketplace data — revenue, traffic, age. Two free marketplace numbers that agree are worth more than one confident model.
The catch: Flippa's crowd is broader and more variable than Acquire's vetted SaaS buyers, and the tool wants to turn you into a listing.
4.Eqvista or 409.AI (for the 409(a) question)
- Best for
- Founders granting stock options
- Price
- Eqvista from $990 · 409.AI from $899, ~24h draft
- Distinctive bit
- NACVA-certified analysts, audit-ready, IRS safe harbor
If the board is approving an option pool, stop reading buyer-market tools and buy a real 409(a). It's a compliance document; neither we nor any marketplace calculator substitutes for it.
The catch: it prices common stock for the IRS. It will not tell you what your company sells for, and it's an event purchase, not a subscription.
My pick, by situation
- Bootstrapped, not selling yet: EvalyMe monthly — move the factor, watch the range move.
- Selling in the next year: Acquire.com's valuation plus Flippa's, compared against your books.
- Granting options: Eqvista or 409.AI. Budget four figures; it's not optional.
- Pre-revenue: no tool helps yet — benchmarks and honest traction metrics beat any formula.
What I'd do today
- Run your numbers through EvalyMe's calculator and note your weakest factor.
- Run the same numbers through Acquire.com's valuation for the market view.
- If the two diverge a lot, the difference is usually churn or revenue quality — check which assumptions drove each number.
- Pick the weakest factor, work it for a quarter, re-run both. That loop is the whole game until you're actually selling.
Questions
What multiple is my SaaS actually worth? +
It depends on growth, churn, size, and revenue quality more than on a single market number. Public-market commentary (like the SaaS Capital Index) gives context for large SaaS, but small private SaaS trades on its own curve — marketplaces that close micro-SaaS deals (Acquire.com, Flippa) are the closest observable market for most founders.
Why does churn matter so much? +
Because a buyer is purchasing the future revenue stream, and churn is the decay rate on that stream. The same MRR with 2% monthly churn and 8% monthly churn is a different business at a different price. That's why churn carries 16% of the weight in our operating score and directly adjusts the multiple in our model.
Do I need a 409(a) valuation for my SaaS? +
Only if you're granting stock options. A 409(a) prices common shares for IRS purposes; it doesn't tell you what your company sells for. If you're granting options, use a real 409(a) provider (Eqvista, 409.AI) — not a calculator.
How do investors value pre-revenue SaaS? +
Mostly on team, market, and traction — benchmarks rather than formulas. If a tool asks for MRR you don't have, it's telling you it's the wrong tool for your stage. Come back when there's revenue to model.
Competitor details from public sources, checked October 2026. EvalyMe outputs are estimates, not appraisals, 409(a) valuations, or investment advice.