Latest Ratios: P/E Ratio -1640.6x · EV/EBITDA N/A · ROE -4.2%. (2017–2026 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $267.3B | $113.9B | $97.4B | $71.3B | $24.7B | $41.0B | $47.0B | $13.0B | — | — | — |
| Enterprise Value | $262.9B | $109.5B | $93.9B | $68.7B | $23.0B | $39.8B | $45.9B | $12.7B | — | — | — |
| P/E Ratio → | -1640.56 | — | — | 790.59 | — | — | — | — | — | — | — |
| P/S Ratio | 55.55 | 23.68 | 24.64 | 23.32 | 11.02 | 28.27 | 53.74 | 27.02 | — | — | — |
| P/B Ratio | 60.60 | 25.48 | 29.36 | 30.49 | 16.60 | 39.54 | 53.90 | 17.52 | — | — | — |
| P/FCF | 204.00 | 86.96 | 91.23 | 76.71 | 36.61 | 93.02 | 160.53 | 1044.22 | — | — | — |
| P/OCF | 165.77 | 70.67 | 70.51 | 61.11 | 26.24 | 71.38 | 131.79 | 130.14 | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 22.76 | 23.75 | 22.48 | 10.27 | 27.42 | 52.44 | 26.47 | — | — | — |
| EV / EBITDA | — | — | 1003.95 | 479.45 | — | — | — | — | — | — | — |
| EV / EBIT | — | — | 1161.43 | 462.30 | — | — | — | — | — | — | — |
| EV / FCF | — | 83.60 | 87.93 | 73.93 | 34.13 | 90.25 | 156.64 | 1022.97 | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 74.7% | 74.7% | 74.9% | 75.3% | 73.2% | 73.6% | 73.7% | 70.6% | 65.1% | 54.1% | 35.5% |
| Operating Margin | -6.1% | -6.1% | -3.0% | -0.1% | -8.5% | -9.8% | -10.6% | -30.3% | -54.8% | -110.7% | -171.7% |
| Net Profit Margin | -3.4% | -3.4% | -0.5% | 2.9% | -8.2% | -16.2% | -10.6% | -29.5% | -56.1% | -114.1% | -173.2% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -4.2% | -4.2% | -0.7% | 4.7% | -14.5% | -24.6% | -11.5% | -34.9% | -542.3% | — | — |
| ROA | -1.6% | -1.6% | -0.3% | 1.5% | -4.2% | -7.4% | -4.5% | -15.4% | -43.0% | -87.7% | -100.0% |
| ROIC | -351.6% | -351.6% | — | — | — | — | -66.1% | -47.7% | — | — | — |
| ROCE | -4.8% | -4.8% | -2.6% | -0.1% | -7.4% | -7.0% | -6.7% | -27.5% | -134.4% | -485.7% | -3911.7% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.18 | 0.18 | 0.24 | 0.34 | 0.53 | 0.75 | 0.89 | — | — | — | — |
| Debt / EBITDA | — | — | 8.44 | 5.53 | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.99 | -1.06 | -1.10 | -1.12 | -1.18 | -1.31 | -0.36 | -1.26 | — | — |
| Net Debt / EBITDA | — | — | -37.79 | -18.02 | — | — | — | — | — | — | — |
| Debt / FCF | — | -3.37 | -3.31 | -2.78 | -2.48 | -2.77 | -3.89 | -21.26 | — | — | — |
| Interest Coverage | -3.53 | -3.53 | 3.07 | 5.77 | -5.31 | -5.34 | -55.36 | -315.25 | -323.09 | -80.35 | -147.38 |
Net cash position: cash ($5.2B) exceeds total debt ($820M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.77 | 1.77 | 1.67 | 1.67 | 1.64 | 1.74 | 2.56 | 2.29 | 1.08 | 0.83 | 0.71 |
| Quick Ratio | 1.77 | 1.77 | 1.67 | 1.67 | 1.64 | 1.74 | 2.56 | 2.29 | 1.08 | 0.83 | 0.71 |
| Cash Ratio | 1.25 | 1.25 | 1.25 | 1.29 | 1.28 | 1.42 | 2.22 | 1.85 | 0.68 | 0.40 | 0.38 |
| Asset Turnover | — | 0.43 | 0.45 | 0.46 | 0.45 | 0.40 | 0.32 | 0.34 | 0.58 | 0.55 | 0.58 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 103.30 | 104.19 | 101.91 | 101.98 | 92.57 | 99.84 | 125.09 | 135.11 | 183.84 | 170.59 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | 0.1% | — | — | — | — | — | — | — |
| FCF Yield | 0.5% | 1.1% | 1.1% | 1.3% | 2.7% | 1.1% | 0.6% | 0.1% | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $1.0B | $979M | $975M | $933M | $909M | $871M | $852M | $685M | $685M | $685M |
Includes 30+ ratios · 10 years · Updated daily
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Quick answers to the most common questions about buying CRWD stock.
CrowdStrike Holdings, Inc.'s current P/E ratio is -1640.6x. This places it at the 50th percentile of its historical range.
CrowdStrike Holdings, Inc.'s return on equity (ROE) is -4.2%. The historical average is -12.2%.
Based on historical data, CrowdStrike Holdings, Inc. is trading at a P/E of -1640.6x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
CrowdStrike Holdings, Inc. has 74.7% gross margin and -6.1% operating margin.
Key Metrics
Top Statement Risk
Negative GAAP operating margin
Metrics are mathematically derived from official filings.
Premium Valuation Reflects Growth Durability
CrowdStrike's forward P/E of 170.1x and P/S of 45.1x, as reported in current market data, price in exceptional long-term growth, suggesting the market views its platform stickiness and market share gains as durable despite near-term profitability headwinds.
The valuation multiples are at a significant premium to peers like Palo Alto Networks (Fwd P/E 170.1x vs. PANW's 208.3x) and Fortinet (P/S 45.1x vs. FTNT's 14.5x), indicating investors are paying for a superior growth trajectory and competitive moat. The forward EV/EBITDA of 100.6x implies the market expects substantial margin expansion from current levels, a bet that operating leverage will eventually materialize. This pricing appears to discount the risk that the July 2024 outage could slow new customer acquisition or increase churn, which would pressure the growth assumptions underpinning these multiples.
Gross Margin Strength vs. Operating Drag
A stable gross margin of 74.6% in Q2 FY2027, per the financial snapshot, underscores the efficiency of the subscription model, but the persistent negative operating margin of -2.3% highlights the significant cost of customer acquisition and platform expansion.
The gross margin is a key indicator of true earning power, as it reflects the core economics of the software delivery model and has remained resilient in the mid-70% range. However, the operating margin is heavily distorted by stock-based compensation, which is a non-cash expense but represents a real economic cost to shareholders through dilution. The negative operating margin suggests that the company is still in a phase of aggressive investment, and investors should monitor the trend in S&M as a percentage of revenue to gauge when operating leverage might emerge.
Capital Returns Volatile Amidst M&A
ROIC has been volatile, swinging from -68.5% in Q3 FY2026 to 14.9% in Q4 FY2026, as reported in the ratio data, indicating that returns are heavily influenced by the timing of acquisitions and the associated integration costs.
The erratic ROIC trend suggests that the company's capital allocation is currently driven by strategic M&A to expand the platform, rather than steady-state operational efficiency. The negative ROIC in recent quarters is likely a function of the negative operating income and the large intangible asset base from acquisitions. For long-term investors, the key question is whether these acquisitions will ultimately drive higher returns on the expanded capital base, which will require sustained revenue growth and margin expansion.
Minimal Leverage Provides Strategic Flexibility
A debt-to-equity ratio of just 0.16 and interest coverage of 1.65x in Q2 FY2027, based on the provided financials, indicate a conservative capital structure that insulates the company from refinancing risk and provides ample capacity for strategic investments.
The low leverage is a significant strength, especially in a rising rate environment, as it minimizes interest expense and financial risk. The interest coverage ratio, while positive, is low due to the negative operating income, but the substantial cash balance of $5.2B provides a more than adequate buffer. This fortress balance sheet gives management the flexibility to pursue acquisitions or weather operational setbacks, such as the July 2024 outage, without financial distress.
Robust Liquidity Buffer for Operational Resilience
A current ratio of 1.57 and a quick ratio of 1.58 in Q2 FY2027, as shown in the ratio data, demonstrate a strong liquidity position that is not dependent on inventory, providing a solid cushion against short-term obligations.
The liquidity ratios are healthy and have remained stable, indicating that the company can comfortably meet its near-term liabilities. The fact that the quick ratio is nearly identical to the current ratio confirms the asset-light, software-based nature of the business with minimal inventory. This strong liquidity position is critical for maintaining operational stability and funding growth initiatives, particularly as the company navigates the potential financial and reputational fallout from the July 2024 outage.
The Misleading Power of Free Cash Flow Margin
The 27.6% FCF margin in Q2 FY2027, per the financial snapshot, is a commonly misapplied metric that obscures the true economic cost of stock-based compensation and the potential future cash liabilities from the July 2024 outage.
Free cash flow is often highlighted as a key strength, but it is significantly inflated by the add-back of non-cash stock-based compensation, which represents a real dilutive cost to shareholders. Furthermore, the FCF calculation does not account for the potential future cash outflows related to customer credits, legal settlements, or remediation costs stemming from the July 2024 global outage. A more accurate measure of sustainable cash generation would adjust for the full economic cost of SBC and reserve for these contingent liabilities, which could materially reduce the apparent cash flow strength.