Last 22 quarters of trend data · Technology · Software - Infrastructure
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | -35.66 | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| P/S Ratio | 1.29 | 8.45 | 5.74 | 7.53 | 7.26 | 8.81 | 6.60 | 10.04 | 11.04 | 8.48 | 11.24 | 13.89 | 10.08 |
| — | -4.1% | -13.1% | -24.9% | -34.2% | +3.9% | -41.2% | -27.8% | +9.5% | -10.3% | +1.7% | +19.8% | -54.6% | |
| P/B Ratio | 9.02 | 9.10 | 6.13 | 8.00 | 7.68 | 9.58 | 7.07 | 10.79 | 11.35 | 8.93 | 11.40 | 13.81 | 9.43 |
| — | -5.0% | -13.4% | -25.9% | -32.3% | +7.4% | -38.0% | -21.9% | +20.3% | +7.7% | +33.2% | +70.1% | -29.5% | |
| P/FCF | 24.76 | 63.84 | 69.70 | 123.67 | — | 79.07 | 176.97 | 870.46 | — | 265.14 | — | — | — |
| — | -19.3% | -60.6% | -85.8% | — | -70.2% | — | — | — | — | — | — | — | |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Confluent, Inc.'s operating margin was -31.5% in Q4 2025, down 3.6 pp QoQ and up 9.0 pp YoY. The trailing four-quarter average of -32.7% lags the current quarter, suggesting the recent improvement is above-trend.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 74.3% | 74.7% | 74.2% | 73.7% | 74.5% | 74.1% | 74.5% | 72.4% | 71.8% | 73.2% | 71.8% | 69.4% | 66.6% |
| — | +0.8% | -0.4% | +1.9% | +3.7% | +1.2% | +3.9% | +4.3% | +7.8% | +7.7% | +10.5% | +7.6% | +4.6% | |
| Operating Margin | -32.6% | -31.5% | -27.9% | -34.2% | -37.3% | -40.5% | -37.4% | -46.1% | -51.3% | -39.7% | -54.3% | -63.1% | -95.3% |
| — | +22.2% | +25.5% | +25.9% | +27.2% | -1.9% | +31.0% | +26.9% | +46.2% | +41.7% | +30.7% | +25.1% | -7.8% | |
| Net Margin | -25.3% | -25.2% | -22.3% | -29.0% | -24.9% | -33.7% | -29.6% | -38.3% | -42.8% | -44.1% | -46.3% | -54.6% | -87.5% |
| — | +25.3% | +24.8% | +24.1% | +41.8% | +23.6% | +36.0% | +30.0% | +51.1% | +29.7% | +39.5% | +35.2% | +2.3% |
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -27.7% | -6.9% | -6.1% | -7.8% | -6.8% | -9.3% | -8.2% | -10.5% | -11.2% | -11.8% | -12.0% | -13.7% | -20.1% |
| — | +25.4% | +25.7% | +25.0% | +39.4% | +21.0% | +31.4% | +23.8% | +44.3% | +13.7% | +18.6% | +4.7% | -50.4% | |
| ROA | -10.4% | -2.7% | -2.3% | -3.0% | -2.5% | -3.3% | -2.9% | -3.6% | -3.8% | -3.9% | -4.0% | -4.5% | -6.6% |
| — | +18.6% | +19.1% | +17.9% | +34.0% | +14.9% | +27.0% | +19.2% | +42.3% | +14.2% | +21.0% | +11.7% | -35.7% | |
| ROIC | -15.8% | -3.9% | -3.3% | -3.9% | -4.3% | -4.7% | -4.1% | -4.9% | -5.2% | -4.0% | -5.2% | -5.8% | -8.4% |
| — | +17.0% | +20.4% | +21.3% | +18.0% | -15.8% | +20.1% | +15.2% | +37.7% | +33.6% | +19.3% | +24.3% | +24.5% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Debt/Equity has declined for 12 consecutive quarters, reflecting a deleveraging trend.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.95 | 0.95 | 0.99 | 1.04 | 1.08 | 1.15 | 1.19 | 1.27 | 1.32 | 1.37 | 1.41 | 1.46 | 1.50 |
| — | -18.1% | -17.0% | -18.3% | -17.8% | -16.0% | -15.6% | -13.0% | -12.1% | -5.3% | -1.0% | +4.3% | +11.9% | |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| Current Ratio | 3.83 | 3.83 | 4.01 | 3.98 | 4.42 | 3.99 | 4.24 | 4.35 | 5.07 | 4.62 | 4.98 | 5.05 | 5.27 |
| — | -4.0% | -5.3% | -8.4% | -12.8% | -13.7% | -14.9% | -13.9% | -3.9% | -10.8% | -13.3% | -13.3% | -20.6% | |
| Quick Ratio | 3.83 | 3.83 | 4.01 | 3.98 | 4.42 | 3.99 | 4.24 | 4.35 | 4.97 | 4.62 | 4.98 | 5.05 | 5.27 |
| — | -4.0% | -5.3% | -8.4% | -11.0% | -13.7% | -14.9% | -13.9% | -5.7% | -10.8% | -13.3% | -13.3% | -20.6% | |
| Interest Coverage | — | — | -83.31 | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 22 years · Updated daily
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Start ComparisonConfluent, Inc.'s current P/E is -35.7x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Confluent, Inc.'s current operating margin is -32.6%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Confluent, Inc.'s business trajectory between earnings reports.