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  "documentTitle": "Multiple (Wix, Salesforce, Splunk, Vertiv) (WIX / CRM / SPLK / VRT)",
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  "presentationDate": "2022-10-19 00:00:00",
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      "text": "After years of underperformance, Splunk is now trading far below peer multiples, despite strong top-line growth and an enviable market position.",
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      "text": "Price / CY2023E Free Cash Flow",
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      "text": "Source: Capital IQ, Bloomberg. Market data as of 10/14/22. Note: Splunk valuation multiple is calculated on EV / ARR basis instead of EV / Revenue due to business transition.",
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      "text": "10-20% Growing, FCF-Generative Software Peers",
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      "text": "20%+ Growing, FCF-Generative Software Peers",
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      "text": "After years of underperformance, Splunk is now trading far below peer multiples, despite strong top-line growth and an enviable market position.",
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      "kind": "title",
      "text": "As a Result, Shares Are Now Trading at an Attractive Valuation",
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      "slug": "21-before-after",
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