Finance
Valuation Range Estimator
Reference multiple range: 12–20× ARR
= 10.000.000.000 ₫
Indicative valuation range
Low (12×)
120B ₫
Mid (16×)
160B ₫
High (20×)
200B ₫
A 16× multiple within the 12–20× range for Pre-seed
For reference only — NOT an official valuation. Actual valuation is set by negotiation and due diligence.
How this tool helps and the terms you need to know
When to use this tool
- When preparing data for capital calling documents.
- When you need a quick estimate before discussions with investors.
- When structuring a funding round: how much to raise, and what percentage of shares that gives investors.
Basic calculation
Pre-money valuation = ARR × Comparable multiple Reference range = ARR × the low–high multiple range for the stage Post-money valuation = Pre-money + Capital raised Investor ownership = Capital raised ÷ Post-money
Start by multiplying annual recurring revenue (ARR) by a comparable multiple to arrive at the pre-money valuation. Each funding stage has a multiple range commonly seen in the market, so multiplying ARR by the lower and upper bounds of that range gives a low–high reference band. Businesses growing quickly, with good margins and a stable customer base, tend to be valued near the upper bound; others sit nearer the lower bound. Multiples are generally higher at early stages because investors are paying for growth potential, and lower at later stages because the business is larger and growth is expected to slow.
Example: A business has ARR of VND 10 billion and is at Seed stage with a reference multiple range of 10 – 15x. The reference valuation band is VND 100 – 150 billion; at a multiple of 12x, the midpoint is VND 120 billion. On a pre-money of VND 120 billion, raising a further VND 30 billion gives a post-money of VND 150 billion and the investor holds 20% of the shares.
Terms used in this tool
- ARR – Annual Recurring RevenueAnnual Recurring Revenue
- Revenue that repeats regularly, annualised — subscription fees or fixed-term service contracts, for example. One-off revenue such as implementation fees or accompanying hardware sales is excluded.
- Revenue multipleRevenue multiple
- The number of times revenue is applied to derive company value. A 12x multiple means the business is valued at 12 years of its current recurring revenue, reflecting the market's expectations of future growth.
- ComparablesComparables
- A set of businesses in the same sector, at the same stage and with the same business model that have recently raised capital or been acquired. Their multiples are the basis for deriving the reference multiple range.
- Pre-money valuationPre-money valuation
- The company value agreed at the point before new capital is injected. This is the figure the two parties actually negotiate.
- Post-money valuationPost-money valuation
- The pre-money valuation plus the capital raised. Investor ownership is calculated on this figure, so confusing pre-money with post-money leads to a significant error in the percentage of shares.
- Funding stageFunding stage
- The business's level of maturity by market convention, from Pre-seed and Seed through Series A to Growth. Each stage carries its own multiple range and its own expectations of commercial evidence.
How to read the results
Near the lower bound of the range
Typically corresponds to a business growing more slowly than the norm, dependent on a few large customers, or with margins that are still thin. Prepare data demonstrating revenue quality before negotiating.
Around the middle of the range
The most common territory in actual transactions. Here, the remaining difference comes mainly from the quality of the team, the clarity of the documentation and the accompanying terms.
Near the upper bound or above the range
Only convincing with evidence of exceptional growth, high retention or a clear technology advantage. Without that evidence, a high valuation tends to draw the round out and create pressure on later rounds.
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