CyberArk Software Ltd. (CYBR) 10-Year Financial Performance & Capital Metrics

CYBR •

TechnologyInfrastructure SoftwareCybersecurity and identity management

AboutCyberArk Software Ltd., together with its subsidiaries, develops, markets, and sales software-based security solutions and services in the United States, Europe, the Middle East, Africa, and internationally. Its solutions include Privileged Access Manager that offers risk-based credential security and session management to protect against attacks involving privileged access; Vendor Privileged Access Manager combines Privileged Access Manager and Remote Access to provide fast, easy, and secure privileged access to third-party vendors; Endpoint Privilege Manager, a SaaS solution that secures privileges on the endpoint; and Cloud Entitlements Manager, a SaaS solution, which reduces risk that arises from excessive privileges by implementing least privilege across cloud environments. The company also offers robust Identity and Access Management as a Services, such as workforce identity, which offers adaptive multi-factor authentication (MFA), single sign-on, secure Web sessions, application gateway, identity lifecycle management, and directory services; and customer identity services that provides authentication and authorization services, MFA, directory, and user management to enable organizations to provide their customers with easy and secure access to websites and applications. In addition, it offers Secrets Manager Credential Providers to provide and manage the credentials used by third-party solutions; and Secrets Manager Conjur for cloud-native applications. The company provides its products to financial services, manufacturing, insurance, healthcare, energy and utilities, transportation, retail, technology, and telecommunications industries; and government agencies through direct sales force, as well as distributors, systems integrators, value-added resellers, and managed security service providers. CyberArk Software Ltd. was founded in 1999 and is headquartered in Petah Tikva, Israel.Show more

Revenue $1.36B +36.0%
EBITDA $23M +175.9%
Net Income -$147M -57.2%
EPS (Diluted) -2.93 -38.2%
Gross Margin 74.25% -6.2%
EBITDA Margin 1.72% +155.8%
Operating Margin -7.71% -5.9%
Net Margin -10.79% -15.6%
ROE -6.16% -4.1%
ROIC -3.23% +14.0%
Debt/Equity 0.51 +4011.4%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓FCF machine: 19.0% free cash flow margin
✓Strong 5Y sales CAGR of 24.0%

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Shares diluted 13.6% in last year
✗Low asset turnover indicates capital-intensive operations

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y23.81%

5Y23.99%

3Y32.01%

TTM36.01%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-57.19%

EPS CAGR

10Y-

5Y-

3Y-

TTM-47.98%

ROCE

10Y Avg0.06%

5Y Avg-6.98%

3Y Avg-5.94%

Latest-3.3%

Peer Comparison

Cybersecurity and identity management

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
OKTAOkta, Inc.	563.4M	72.50	1208.33	15.33%	6.87%	2.83%	100%	0.15
PANWPalo Alto Networks, Inc.	104.69B	148.92	93.08	14.87%	12.96%	13.65%	3.31%	0.04
ALLTAllot Ltd.	250.63M	6.34	79.05	10.63%	3.63%	3.27%	6.18%	0.10
FTNTFortinet, Inc.	58.77B	79.03	32.52	14.17%	27.26%	149.77%	3.79%	0.81
GENGen Digital Inc.	13.93B	22.57	21.91	3.55%	12.76%	25.86%	8.66%	3.66
CHKPCheck Point Software Technologies Ltd.	16.48B	152.07	20.38	6.22%	37.62%	32.79%	6.24%	0.01
QLYSQualys, Inc.	3.32B	92.47	19.89	9.58%	28.96%	35.73%	6.98%	0.10
RPDRapid7, Inc.	394.95M	6.22	15.55	8.53%	1.44%	2.04%	42.6%	57.49

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	216.61M	261.7M	343.2M	433.89M	464.43M	502.92M	591.71M	751.89M	1B	1.36B
Revenue Growth %	34.7%	20.82%	31.14%	26.43%	7.04%	8.29%	17.66%	27.07%	33.1%	36.01%
Cost of Goods Sold+	30.15M	41.85M	48.46M	62.62M	82.57M	93.31M	126.05M	156.13M	208.38M	350.48M
COGS % of Revenue	13.92%	15.99%	14.12%	14.43%	17.78%	18.55%	21.3%	20.77%	20.82%	25.75%
Gross Profit+	186.46M	219.85M	294.74M	371.28M	381.86M	409.61M	465.66M	595.76M	792.37M	1.01B
Gross Margin %	86.08%	84.01%	85.88%	85.57%	82.22%	81.45%	78.7%	79.23%	79.18%	74.25%
Gross Profit Growth %	34.97%	17.91%	34.06%	25.97%	2.85%	7.27%	13.68%	27.94%	33%	27.55%
Operating Expenses+	150.51M	199.53M	247.45M	309M	375.85M	487.95M	618.11M	712.23M	865.17M	1.12B
OpEx % of Revenue	69.48%	76.24%	72.1%	71.21%	80.93%	97.02%	104.46%	94.73%	86.45%	81.96%
Selling, General & Admin	115.89M	157.14M	190.33M	236.48M	280.43M	345.83M	427.79M	500.78M	622.11M	827.89M
SG&A % of Revenue	53.5%	60.04%	55.46%	54.5%	60.38%	68.76%	72.3%	66.6%	62.17%	60.82%
Research & Development	34.61M	42.39M	57.11M	72.52M	95.43M	142.12M	190.32M	211.44M	243.06M	343.86M
R&D % of Revenue	15.98%	16.2%	16.64%	16.71%	20.55%	28.26%	32.16%	28.12%	24.29%	25.26%
Other Operating Expenses	0	0	0	0	0	0	0	0	0	-56.23M
Operating Income+	35.96M	20.33M	47.29M	62.28M	6.01M	-78.34M	-152.45M	-116.47M	-72.8M	-104.88M
Operating Margin %	16.6%	7.77%	13.78%	14.35%	1.29%	-15.58%	-25.76%	-15.49%	-7.27%	-7.71%
Operating Income Growth %	8.23%	-43.47%	132.67%	31.7%	-90.36%	-1404.31%	-94.61%	23.6%	37.49%	-44.06%
EBITDA+	42.44M	28.18M	85.18M	106.78M	21.48M	-64.11M	-136.25M	-99.29M	-30.82M	23.38M
EBITDA Margin %	19.59%	10.77%	24.82%	24.61%	4.63%	-12.75%	-23.03%	-13.21%	-3.08%	1.72%
EBITDA Growth %	19.64%	-33.6%	202.24%	25.37%	-79.88%	-398.45%	-112.52%	27.13%	68.96%	175.87%
D&A (Non-Cash Add-back)	6.49M	7.86M	37.88M	44.5M	15.47M	14.23M	16.2M	17.18M	41.98M	128.26M
EBIT	36.34M	24.43M	52.02M	72.32M	16.79M	-73.29M	-133.77M	-60.95M	-13.31M	-69.13M
Net Interest Income+	1.21M	2.37M	5.6M	8.6M	-7.08M	-12.48M	13.87M	51.65M	54.35M	62.03M
Interest Income	1.36M	2.53M	5.78M	10.84M	10.38M	5.56M	17.12M	52.24M	58.42M	62.03M
Interest Expense	144K	158K	177K	2.24M	17.46M	18.04M	3.25M	598K	4.07M	0
Other Income/Expense	245K	4.1M	4.55M	7.8M	-6.39M	-12.99M	15.43M	53.21M	56.84M	35.75M
Pretax Income+	36.2M	24.43M	51.84M	70.08M	-389K	-91.33M	-137.02M	-63.26M	-15.97M	-69.13M
Pretax Margin %	16.71%	9.33%	15.11%	16.15%	-0.08%	-18.16%	-23.16%	-8.41%	-1.6%	-5.08%
Income Tax+	8.08M	8.41M	4.77M	7.02M	5.37M	-7.38M	-6.65M	3.25M	77.5M	77.78M
Effective Tax Rate %	77.69%	65.56%	90.8%	89.98%	1480.21%	91.92%	95.15%	105.13%	585.38%	212.51%
Net Income+	28.12M	16.02M	47.07M	63.06M	-5.76M	-83.95M	-130.37M	-66.5M	-93.46M	-146.91M
Net Margin %	12.98%	6.12%	13.72%	14.53%	-1.24%	-16.69%	-22.03%	-8.84%	-9.34%	-10.79%
Net Income Growth %	9.03%	-43.06%	193.92%	33.97%	-109.13%	-1357.9%	-55.3%	48.99%	-40.53%	-57.19%
Net Income (Continuing)	28.12M	16.02M	47.07M	63.06M	-5.76M	-83.95M	-130.37M	-66.5M	-93.46M	-146.91M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.78	0.44	1.27	1.62	-0.15	-2.12	-3.21	-1.60	-2.12	-2.93
EPS Growth %	6.85%	-43.59%	188.64%	27.56%	-109.26%	-1313.33%	-51.42%	50.16%	-32.5%	-38.21%
EPS (Basic)	0.83	0.46	1.30	1.68	-0.15	-2.12	-3.21	-1.60	-2.12	-2.93
Diluted Shares Outstanding	35.84M	36.18M	37.07M	38.89M	38.63M	39.65M	40.58M	41.66M	44.18M	50.19M
Basic Shares Outstanding	33.74M	34.82M	36.17M	37.59M	38.63M	39.65M	40.58M	41.66M	44.18M	50.14M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	313.17M	355.65M	481.76M	1.15B	1.06B	1.06B	1.1B	1.21B	1.19B	1.99B
Cash & Short-Term Investments	275.03M	302.93M	426.98M	1.06B	952.99M	926.43M	954.28M	993.42M	819.78M	1.54B
Cash Only	172.96M	161.26M	260.64M	792.36M	499.99M	356.85M	347.34M	355.93M	526.47M	623.21M
Short-Term Investments	102.08M	141.67M	166.35M	272.48M	453M	569.58M	606.94M	637.49M	293.31M	919.08M
Accounts Receivable	33.33M	45.31M	48.43M	72.95M	93.13M	113.21M	120.82M	186.47M	328.46M	373.78M
Days Sales Outstanding	56.16	63.2	51.51	61.37	73.19	82.16	74.53	90.52	119.8	100.23
Inventory	0	0	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	1.64M	3.32M	3.47M	3.4M	7.97M	6.66M	7.32M	12.42M	19.47M	0
Total Non-Current Assets+	89.86M	146.92M	191.86M	258.96M	500.92M	631.34M	721.82M	810.76M	2.15B	2.83B
Property, Plant & Equipment	4.76M	9.23M	15.12M	16.47M	18.54M	20.18M	23.47M	48.68M	19.58M	41.59M
Fixed Asset Turnover	45.51x	28.35x	22.70x	26.34x	25.05x	24.92x	25.21x	15.45x	51.11x	32.73x
Goodwill	35.15M	69.22M	82.4M	82.4M	123.72M	123.72M	153.24M	153.24M	1.32B	1.44B
Intangible Assets	14.04M	15.66M	14.73M	9.14M	23.68M	17.87M	27.51M	20.2M	534.73M	467.6M
Long-Term Investments	20.44M	27.41M	24.26M	54.41M	202.19M	300.66M	227.75M	324.55M	21.34M	547.48M
Other Non-Current Assets	5.09M	6.06M	31.86M	72.09M	99.99M	121.74M	217.04M	182.63M	258.53M	329.03M
Total Assets+	403.03M	502.58M	673.62M	1.41B	1.56B	1.69B	1.82B	2.02B	3.35B	4.82B
Asset Turnover	0.54x	0.52x	0.51x	0.31x	0.30x	0.30x	0.33x	0.37x	0.30x	0.28x
Asset Growth %	20.52%	24.7%	34.03%	108.6%	11.19%	8.38%	7.45%	11.15%	65.58%	43.86%
Total Current Liabilities+	78.16M	104.41M	143.42M	192.67M	247.01M	340M	452.47M	1.12B	807.43M	992.92M
Accounts Payable	2.7M	1.96M	4.92M	5.67M	8.25M	10.08M	13.64M	10.97M	23.67M	18.67M
Days Payables Outstanding	32.67	17.1	37.09	33.08	36.47	39.42	39.5	25.65	41.46	19.44
Short-Term Debt	0	0	0	0	0	0	0	572.34M	0	0
Deferred Revenue (Current)	50.11M	66.99M	92.38M	118.52M	161.68M	230.91M	327.92M	409.22M	596.87M	0
Other Current Liabilities	6.4M	7.24M	11.46M	17.48M	11.06M	7.83M	13.49M	28.32M	21.66M	721.75M
Current Ratio	4.01x	3.41x	3.36x	5.95x	4.30x	3.12x	2.43x	1.08x	1.48x	2.00x
Quick Ratio	4.01x	3.41x	3.36x	5.95x	4.30x	3.12x	2.43x	1.08x	1.48x	2.00x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	28.66M	44.2M	63.43M	588.36M	608.05M	626.69M	688.78M	105.25M	171.16M	1.42B
Long-Term Debt	0	0	0	485.12M	502.3M	520.09M	569.34M	0	0	1.22B
Capital Lease Obligations	0	0	0	0	16.2M	0	0	22.29M	18.21M	0
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	5.26M	5.95M	6.27M	31.41M	8.72M	20.23M	38.92M	11.55M	57.76M	105.64M
Total Liabilities	106.81M	148.61M	206.85M	781.03M	855.06M	966.69M	1.14B	1.23B	978.59M	2.41B
Total Debt+	0	0	0	485.12M	525.53M	527.07M	577.2M	602.87M	29.32M	1.22B
Net Debt	-172.96M	-161.26M	-260.64M	-307.24M	25.54M	170.22M	229.86M	246.94M	-497.15M	599.2M
Debt / Equity	-	-	-	0.78x	0.74x	0.73x	0.85x	0.76x	0.01x	0.51x
Debt / EBITDA	-	-	-	4.54x	24.46x	-	-	-	-	52.28x
Net Debt / EBITDA	-4.07x	-5.72x	-3.06x	-2.88x	1.19x	-	-	-	-	25.63x
Interest Coverage	249.69x	128.65x	267.19x	27.81x	0.34x	-4.34x	-46.92x	-194.77x	-17.90x	-
Total Equity+	296.22M	353.96M	466.77M	624.13M	707.29M	726.51M	678.14M	792.33M	2.37B	2.4B
Equity Growth %	20.09%	19.5%	31.87%	33.71%	13.32%	2.72%	-6.66%	16.84%	199.09%	1.42%
Book Value per Share	8.27	9.78	12.59	16.05	18.31	18.33	16.71	19.02	53.64	47.89
Total Shareholders' Equity	296.22M	353.96M	466.77M	624.13M	707.29M	726.51M	678.14M	792.33M	2.37B	2.4B
Common Stock	88K	91K	95K	99K	101K	104K	107K	111K	130K	134K
Retained Earnings	74.69M	103.89M	163.71M	226.78M	221.02M	137.07M	33.31M	-33.2M	-126.66M	-273.57M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-175K	107K	-939K	818K	4.17M	397K	-15.56M	-1.85M	2.17M	23.07M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	56.31M	80.74M	130.13M	141.71M	106.77M	74.74M	49.71M	56.2M	231.89M	286.65M
Operating CF Margin %	26%	30.85%	37.92%	32.66%	22.99%	14.86%	8.4%	7.47%	23.17%	21.06%
Operating CF Growth %	-4.82%	43.38%	61.17%	8.9%	-24.66%	-30%	-33.49%	13.07%	312.58%	23.62%
Net Income	28.12M	16.02M	47.07M	63.06M	-5.76M	-83.95M	-130.37M	-66.5M	-93.46M	-146.91M
Depreciation & Amortization	6.49M	7.86M	10.08M	10.65M	15.47M	14.23M	16.2M	19.25M	41.98M	131.67M
Stock-Based Compensation	17.54M	25.24M	35.96M	55.52M	71.85M	95.44M	120.82M	140.1M	168.77M	234.83M
Deferred Taxes	-1.13M	5.86M	-7.06M	-6.97M	-1.99M	-11.97M	-15.63M	-7.88M	66.29M	0
Other Non-Cash Items	-1.19M	382K	293K	1.92M	20.25M	25.32M	6.87M	-1.57M	-5.5M	-16.3M
Working Capital Changes	6.48M	25.39M	43.77M	17.54M	6.94M	35.67M	51.81M	-27.19M	53.8M	83.37M
Change in Receivables	-12.92M	-11.63M	-3.12M	-24.52M	-17.32M	-20.08M	-7.61M	-65.66M	-93.3M	-43.47M
Change in Inventory	0	0	0	0	0	0	0	0	0	0
Change in Payables	-177K	-1.29M	1.96M	1.57M	558K	1.5M	4.05M	-2.67M	11M	-6.89M
Cash from Investing+	-122.23M	-95M	-48.74M	-143.22M	-412.39M	-228.19M	-68.39M	-85.83M	-346.26M	-1.32B
Capital Expenditures	-2.79M	-6.76M	-8.61M	-7.04M	-7.17M	-8.93M	-12.52M	-4.95M	-11.06M	-16.78M
CapEx % of Revenue	1.29%	2.58%	2.51%	1.62%	1.54%	1.78%	2.12%	0.66%	1.11%	1.23%
Acquisitions	0	-41.33M	-18.45M	0	-68.6M	0	-41.28M	0	-984.67M	-164.38M
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	0	0	0	0	0	0	0	0	-1.14B
Cash from Financing+	3.97M	2.62M	17.98M	532.04M	13.25M	10.95M	12.22M	38.08M	288.81M	1.13B
Debt Issued (Net)	0	0	0	560.11M	0	0	0	0	-542K	1.22B
Equity Issued (Net)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	0	0	0	0	0	0	0	0	0	-8.02M
Other Financing	1.47M	0	0	-52.49M	1.07M	-789K	10.26M	27.02M	261.63M	-94.54M
Net Change in Cash	-61.95M	-11.63M	99.36M	530.53M	-292.37M	-143.19M	-9.51M	8.6M	170.53M	96.74M
Free Cash Flow+	53.52M	73.98M	121.51M	134.67M	99.59M	65.81M	37.19M	51.26M	220.83M	259.25M
FCF Margin %	24.71%	28.27%	35.41%	31.04%	21.44%	13.09%	6.29%	6.82%	22.07%	19.05%
FCF Growth %	-6.27%	38.24%	64.25%	10.83%	-26.05%	-33.92%	-43.49%	37.82%	330.83%	17.4%
FCF per Share	1.49	2.05	3.28	3.46	2.58	1.66	0.92	1.23	5.00	5.17
FCF Conversion (FCF/Net Income)	2.00x	5.04x	2.76x	2.25x	-18.54x	-0.89x	-0.38x	-0.85x	-2.48x	-1.95x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	10.58M	3.37M	6.38M	10.55M	11.42M	8.4M	9.3M	11.44M	14.84M	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	10.36%	4.93%	11.47%	11.56%	-0.86%	-11.71%	-18.56%	-9.05%	-5.91%	-6.16%
Return on Invested Capital (ROIC)	39.84%	9.65%	17.79%	17.86%	0.86%	-7.21%	-12.67%	-8.97%	-3.75%	-3.23%
Gross Margin	86.08%	84.01%	85.88%	85.57%	82.22%	81.45%	78.7%	79.23%	79.18%	74.25%
Net Margin	12.98%	6.12%	13.72%	14.53%	-1.24%	-16.69%	-22.03%	-8.84%	-9.34%	-10.79%
Debt / Equity	-	-	-	0.78x	0.74x	0.73x	0.85x	0.76x	0.01x	0.51x
Interest Coverage	249.69x	128.65x	267.19x	27.81x	0.34x	-4.34x	-46.92x	-194.77x	-17.90x	-
FCF Conversion	2.00x	5.04x	2.76x	2.25x	-18.54x	-0.89x	-0.38x	-0.85x	-2.48x	-1.95x
Revenue Growth	34.7%	20.82%	31.14%	26.43%	7.04%	8.29%	17.66%	27.07%	33.1%	36.01%

US Stock Screener

...

CyberArk Software Ltd. (CYBR) 10-Year Financial Performance & Capital Metrics

CYBR •

TechnologyInfrastructure SoftwareCybersecurity and identity management

Revenue $1.36B +36.0%
EBITDA $23M +175.9%
Net Income -$147M -57.2%
EPS (Diluted) -2.93 -38.2%
Gross Margin 74.25% -6.2%
EBITDA Margin 1.72% +155.8%
Operating Margin -7.71% -5.9%
Net Margin -10.79% -15.6%
ROE -6.16% -4.1%
ROIC -3.23% +14.0%
Debt/Equity 0.51 +4011.4%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓FCF machine: 19.0% free cash flow margin
✓Strong 5Y sales CAGR of 24.0%

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Shares diluted 13.6% in last year
✗Low asset turnover indicates capital-intensive operations

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y23.81%

5Y23.99%

3Y32.01%

TTM36.01%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-57.19%

EPS CAGR

10Y-

5Y-

3Y-

TTM-47.98%

ROCE

10Y Avg0.06%

5Y Avg-6.98%

3Y Avg-5.94%

Latest-3.3%

Peer Comparison

Cybersecurity and identity management

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
OKTAOkta, Inc.	563.4M	72.50	1208.33	15.33%	6.87%	2.83%	100%	0.15
PANWPalo Alto Networks, Inc.	104.69B	148.92	93.08	14.87%	12.96%	13.65%	3.31%	0.04
ALLTAllot Ltd.	250.63M	6.34	79.05	10.63%	3.63%	3.27%	6.18%	0.10
FTNTFortinet, Inc.	58.77B	79.03	32.52	14.17%	27.26%	149.77%	3.79%	0.81
GENGen Digital Inc.	13.93B	22.57	21.91	3.55%	12.76%	25.86%	8.66%	3.66
CHKPCheck Point Software Technologies Ltd.	16.48B	152.07	20.38	6.22%	37.62%	32.79%	6.24%	0.01
QLYSQualys, Inc.	3.32B	92.47	19.89	9.58%	28.96%	35.73%	6.98%	0.10
RPDRapid7, Inc.	394.95M	6.22	15.55	8.53%	1.44%	2.04%	42.6%	57.49

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	216.61M	261.7M	343.2M	433.89M	464.43M	502.92M	591.71M	751.89M	1B	1.36B
Revenue Growth %	34.7%	20.82%	31.14%	26.43%	7.04%	8.29%	17.66%	27.07%	33.1%	36.01%
Cost of Goods Sold+	30.15M	41.85M	48.46M	62.62M	82.57M	93.31M	126.05M	156.13M	208.38M	350.48M
COGS % of Revenue	13.92%	15.99%	14.12%	14.43%	17.78%	18.55%	21.3%	20.77%	20.82%	25.75%
Gross Profit+	186.46M	219.85M	294.74M	371.28M	381.86M	409.61M	465.66M	595.76M	792.37M	1.01B
Gross Margin %	86.08%	84.01%	85.88%	85.57%	82.22%	81.45%	78.7%	79.23%	79.18%	74.25%
Gross Profit Growth %	34.97%	17.91%	34.06%	25.97%	2.85%	7.27%	13.68%	27.94%	33%	27.55%
Operating Expenses+	150.51M	199.53M	247.45M	309M	375.85M	487.95M	618.11M	712.23M	865.17M	1.12B
OpEx % of Revenue	69.48%	76.24%	72.1%	71.21%	80.93%	97.02%	104.46%	94.73%	86.45%	81.96%
Selling, General & Admin	115.89M	157.14M	190.33M	236.48M	280.43M	345.83M	427.79M	500.78M	622.11M	827.89M
SG&A % of Revenue	53.5%	60.04%	55.46%	54.5%	60.38%	68.76%	72.3%	66.6%	62.17%	60.82%
Research & Development	34.61M	42.39M	57.11M	72.52M	95.43M	142.12M	190.32M	211.44M	243.06M	343.86M
R&D % of Revenue	15.98%	16.2%	16.64%	16.71%	20.55%	28.26%	32.16%	28.12%	24.29%	25.26%
Other Operating Expenses	0	0	0	0	0	0	0	0	0	-56.23M
Operating Income+	35.96M	20.33M	47.29M	62.28M	6.01M	-78.34M	-152.45M	-116.47M	-72.8M	-104.88M
Operating Margin %	16.6%	7.77%	13.78%	14.35%	1.29%	-15.58%	-25.76%	-15.49%	-7.27%	-7.71%
Operating Income Growth %	8.23%	-43.47%	132.67%	31.7%	-90.36%	-1404.31%	-94.61%	23.6%	37.49%	-44.06%
EBITDA+	42.44M	28.18M	85.18M	106.78M	21.48M	-64.11M	-136.25M	-99.29M	-30.82M	23.38M
EBITDA Margin %	19.59%	10.77%	24.82%	24.61%	4.63%	-12.75%	-23.03%	-13.21%	-3.08%	1.72%
EBITDA Growth %	19.64%	-33.6%	202.24%	25.37%	-79.88%	-398.45%	-112.52%	27.13%	68.96%	175.87%
D&A (Non-Cash Add-back)	6.49M	7.86M	37.88M	44.5M	15.47M	14.23M	16.2M	17.18M	41.98M	128.26M
EBIT	36.34M	24.43M	52.02M	72.32M	16.79M	-73.29M	-133.77M	-60.95M	-13.31M	-69.13M
Net Interest Income+	1.21M	2.37M	5.6M	8.6M	-7.08M	-12.48M	13.87M	51.65M	54.35M	62.03M
Interest Income	1.36M	2.53M	5.78M	10.84M	10.38M	5.56M	17.12M	52.24M	58.42M	62.03M
Interest Expense	144K	158K	177K	2.24M	17.46M	18.04M	3.25M	598K	4.07M	0
Other Income/Expense	245K	4.1M	4.55M	7.8M	-6.39M	-12.99M	15.43M	53.21M	56.84M	35.75M
Pretax Income+	36.2M	24.43M	51.84M	70.08M	-389K	-91.33M	-137.02M	-63.26M	-15.97M	-69.13M
Pretax Margin %	16.71%	9.33%	15.11%	16.15%	-0.08%	-18.16%	-23.16%	-8.41%	-1.6%	-5.08%
Income Tax+	8.08M	8.41M	4.77M	7.02M	5.37M	-7.38M	-6.65M	3.25M	77.5M	77.78M
Effective Tax Rate %	77.69%	65.56%	90.8%	89.98%	1480.21%	91.92%	95.15%	105.13%	585.38%	212.51%
Net Income+	28.12M	16.02M	47.07M	63.06M	-5.76M	-83.95M	-130.37M	-66.5M	-93.46M	-146.91M
Net Margin %	12.98%	6.12%	13.72%	14.53%	-1.24%	-16.69%	-22.03%	-8.84%	-9.34%	-10.79%
Net Income Growth %	9.03%	-43.06%	193.92%	33.97%	-109.13%	-1357.9%	-55.3%	48.99%	-40.53%	-57.19%
Net Income (Continuing)	28.12M	16.02M	47.07M	63.06M	-5.76M	-83.95M	-130.37M	-66.5M	-93.46M	-146.91M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.78	0.44	1.27	1.62	-0.15	-2.12	-3.21	-1.60	-2.12	-2.93
EPS Growth %	6.85%	-43.59%	188.64%	27.56%	-109.26%	-1313.33%	-51.42%	50.16%	-32.5%	-38.21%
EPS (Basic)	0.83	0.46	1.30	1.68	-0.15	-2.12	-3.21	-1.60	-2.12	-2.93
Diluted Shares Outstanding	35.84M	36.18M	37.07M	38.89M	38.63M	39.65M	40.58M	41.66M	44.18M	50.19M
Basic Shares Outstanding	33.74M	34.82M	36.17M	37.59M	38.63M	39.65M	40.58M	41.66M	44.18M	50.14M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	313.17M	355.65M	481.76M	1.15B	1.06B	1.06B	1.1B	1.21B	1.19B	1.99B
Cash & Short-Term Investments	275.03M	302.93M	426.98M	1.06B	952.99M	926.43M	954.28M	993.42M	819.78M	1.54B
Cash Only	172.96M	161.26M	260.64M	792.36M	499.99M	356.85M	347.34M	355.93M	526.47M	623.21M
Short-Term Investments	102.08M	141.67M	166.35M	272.48M	453M	569.58M	606.94M	637.49M	293.31M	919.08M
Accounts Receivable	33.33M	45.31M	48.43M	72.95M	93.13M	113.21M	120.82M	186.47M	328.46M	373.78M
Days Sales Outstanding	56.16	63.2	51.51	61.37	73.19	82.16	74.53	90.52	119.8	100.23
Inventory	0	0	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	1.64M	3.32M	3.47M	3.4M	7.97M	6.66M	7.32M	12.42M	19.47M	0
Total Non-Current Assets+	89.86M	146.92M	191.86M	258.96M	500.92M	631.34M	721.82M	810.76M	2.15B	2.83B
Property, Plant & Equipment	4.76M	9.23M	15.12M	16.47M	18.54M	20.18M	23.47M	48.68M	19.58M	41.59M
Fixed Asset Turnover	45.51x	28.35x	22.70x	26.34x	25.05x	24.92x	25.21x	15.45x	51.11x	32.73x
Goodwill	35.15M	69.22M	82.4M	82.4M	123.72M	123.72M	153.24M	153.24M	1.32B	1.44B
Intangible Assets	14.04M	15.66M	14.73M	9.14M	23.68M	17.87M	27.51M	20.2M	534.73M	467.6M
Long-Term Investments	20.44M	27.41M	24.26M	54.41M	202.19M	300.66M	227.75M	324.55M	21.34M	547.48M
Other Non-Current Assets	5.09M	6.06M	31.86M	72.09M	99.99M	121.74M	217.04M	182.63M	258.53M	329.03M
Total Assets+	403.03M	502.58M	673.62M	1.41B	1.56B	1.69B	1.82B	2.02B	3.35B	4.82B
Asset Turnover	0.54x	0.52x	0.51x	0.31x	0.30x	0.30x	0.33x	0.37x	0.30x	0.28x
Asset Growth %	20.52%	24.7%	34.03%	108.6%	11.19%	8.38%	7.45%	11.15%	65.58%	43.86%
Total Current Liabilities+	78.16M	104.41M	143.42M	192.67M	247.01M	340M	452.47M	1.12B	807.43M	992.92M
Accounts Payable	2.7M	1.96M	4.92M	5.67M	8.25M	10.08M	13.64M	10.97M	23.67M	18.67M
Days Payables Outstanding	32.67	17.1	37.09	33.08	36.47	39.42	39.5	25.65	41.46	19.44
Short-Term Debt	0	0	0	0	0	0	0	572.34M	0	0
Deferred Revenue (Current)	50.11M	66.99M	92.38M	118.52M	161.68M	230.91M	327.92M	409.22M	596.87M	0
Other Current Liabilities	6.4M	7.24M	11.46M	17.48M	11.06M	7.83M	13.49M	28.32M	21.66M	721.75M
Current Ratio	4.01x	3.41x	3.36x	5.95x	4.30x	3.12x	2.43x	1.08x	1.48x	2.00x
Quick Ratio	4.01x	3.41x	3.36x	5.95x	4.30x	3.12x	2.43x	1.08x	1.48x	2.00x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	28.66M	44.2M	63.43M	588.36M	608.05M	626.69M	688.78M	105.25M	171.16M	1.42B
Long-Term Debt	0	0	0	485.12M	502.3M	520.09M	569.34M	0	0	1.22B
Capital Lease Obligations	0	0	0	0	16.2M	0	0	22.29M	18.21M	0
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	5.26M	5.95M	6.27M	31.41M	8.72M	20.23M	38.92M	11.55M	57.76M	105.64M
Total Liabilities	106.81M	148.61M	206.85M	781.03M	855.06M	966.69M	1.14B	1.23B	978.59M	2.41B
Total Debt+	0	0	0	485.12M	525.53M	527.07M	577.2M	602.87M	29.32M	1.22B
Net Debt	-172.96M	-161.26M	-260.64M	-307.24M	25.54M	170.22M	229.86M	246.94M	-497.15M	599.2M
Debt / Equity	-	-	-	0.78x	0.74x	0.73x	0.85x	0.76x	0.01x	0.51x
Debt / EBITDA	-	-	-	4.54x	24.46x	-	-	-	-	52.28x
Net Debt / EBITDA	-4.07x	-5.72x	-3.06x	-2.88x	1.19x	-	-	-	-	25.63x
Interest Coverage	249.69x	128.65x	267.19x	27.81x	0.34x	-4.34x	-46.92x	-194.77x	-17.90x	-
Total Equity+	296.22M	353.96M	466.77M	624.13M	707.29M	726.51M	678.14M	792.33M	2.37B	2.4B
Equity Growth %	20.09%	19.5%	31.87%	33.71%	13.32%	2.72%	-6.66%	16.84%	199.09%	1.42%
Book Value per Share	8.27	9.78	12.59	16.05	18.31	18.33	16.71	19.02	53.64	47.89
Total Shareholders' Equity	296.22M	353.96M	466.77M	624.13M	707.29M	726.51M	678.14M	792.33M	2.37B	2.4B
Common Stock	88K	91K	95K	99K	101K	104K	107K	111K	130K	134K
Retained Earnings	74.69M	103.89M	163.71M	226.78M	221.02M	137.07M	33.31M	-33.2M	-126.66M	-273.57M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-175K	107K	-939K	818K	4.17M	397K	-15.56M	-1.85M	2.17M	23.07M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	56.31M	80.74M	130.13M	141.71M	106.77M	74.74M	49.71M	56.2M	231.89M	286.65M
Operating CF Margin %	26%	30.85%	37.92%	32.66%	22.99%	14.86%	8.4%	7.47%	23.17%	21.06%
Operating CF Growth %	-4.82%	43.38%	61.17%	8.9%	-24.66%	-30%	-33.49%	13.07%	312.58%	23.62%
Net Income	28.12M	16.02M	47.07M	63.06M	-5.76M	-83.95M	-130.37M	-66.5M	-93.46M	-146.91M
Depreciation & Amortization	6.49M	7.86M	10.08M	10.65M	15.47M	14.23M	16.2M	19.25M	41.98M	131.67M
Stock-Based Compensation	17.54M	25.24M	35.96M	55.52M	71.85M	95.44M	120.82M	140.1M	168.77M	234.83M
Deferred Taxes	-1.13M	5.86M	-7.06M	-6.97M	-1.99M	-11.97M	-15.63M	-7.88M	66.29M	0
Other Non-Cash Items	-1.19M	382K	293K	1.92M	20.25M	25.32M	6.87M	-1.57M	-5.5M	-16.3M
Working Capital Changes	6.48M	25.39M	43.77M	17.54M	6.94M	35.67M	51.81M	-27.19M	53.8M	83.37M
Change in Receivables	-12.92M	-11.63M	-3.12M	-24.52M	-17.32M	-20.08M	-7.61M	-65.66M	-93.3M	-43.47M
Change in Inventory	0	0	0	0	0	0	0	0	0	0
Change in Payables	-177K	-1.29M	1.96M	1.57M	558K	1.5M	4.05M	-2.67M	11M	-6.89M
Cash from Investing+	-122.23M	-95M	-48.74M	-143.22M	-412.39M	-228.19M	-68.39M	-85.83M	-346.26M	-1.32B
Capital Expenditures	-2.79M	-6.76M	-8.61M	-7.04M	-7.17M	-8.93M	-12.52M	-4.95M	-11.06M	-16.78M
CapEx % of Revenue	1.29%	2.58%	2.51%	1.62%	1.54%	1.78%	2.12%	0.66%	1.11%	1.23%
Acquisitions	0	-41.33M	-18.45M	0	-68.6M	0	-41.28M	0	-984.67M	-164.38M
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	0	0	0	0	0	0	0	0	-1.14B
Cash from Financing+	3.97M	2.62M	17.98M	532.04M	13.25M	10.95M	12.22M	38.08M	288.81M	1.13B
Debt Issued (Net)	0	0	0	560.11M	0	0	0	0	-542K	1.22B
Equity Issued (Net)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	0	0	0	0	0	0	0	0	0	-8.02M
Other Financing	1.47M	0	0	-52.49M	1.07M	-789K	10.26M	27.02M	261.63M	-94.54M
Net Change in Cash	-61.95M	-11.63M	99.36M	530.53M	-292.37M	-143.19M	-9.51M	8.6M	170.53M	96.74M
Free Cash Flow+	53.52M	73.98M	121.51M	134.67M	99.59M	65.81M	37.19M	51.26M	220.83M	259.25M
FCF Margin %	24.71%	28.27%	35.41%	31.04%	21.44%	13.09%	6.29%	6.82%	22.07%	19.05%
FCF Growth %	-6.27%	38.24%	64.25%	10.83%	-26.05%	-33.92%	-43.49%	37.82%	330.83%	17.4%
FCF per Share	1.49	2.05	3.28	3.46	2.58	1.66	0.92	1.23	5.00	5.17
FCF Conversion (FCF/Net Income)	2.00x	5.04x	2.76x	2.25x	-18.54x	-0.89x	-0.38x	-0.85x	-2.48x	-1.95x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	10.58M	3.37M	6.38M	10.55M	11.42M	8.4M	9.3M	11.44M	14.84M	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	10.36%	4.93%	11.47%	11.56%	-0.86%	-11.71%	-18.56%	-9.05%	-5.91%	-6.16%
Return on Invested Capital (ROIC)	39.84%	9.65%	17.79%	17.86%	0.86%	-7.21%	-12.67%	-8.97%	-3.75%	-3.23%
Gross Margin	86.08%	84.01%	85.88%	85.57%	82.22%	81.45%	78.7%	79.23%	79.18%	74.25%
Net Margin	12.98%	6.12%	13.72%	14.53%	-1.24%	-16.69%	-22.03%	-8.84%	-9.34%	-10.79%
Debt / Equity	-	-	-	0.78x	0.74x	0.73x	0.85x	0.76x	0.01x	0.51x
Interest Coverage	249.69x	128.65x	267.19x	27.81x	0.34x	-4.34x	-46.92x	-194.77x	-17.90x	-
FCF Conversion	2.00x	5.04x	2.76x	2.25x	-18.54x	-0.89x	-0.38x	-0.85x	-2.48x	-1.95x
Revenue Growth	34.7%	20.82%	31.14%	26.43%	7.04%	8.29%	17.66%	27.07%	33.1%	36.01%

CyberArk Software Ltd. (CYBR) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare CYBR vs Peers

vs PANW

vs CRWD

Compare Top 5

Profit & Loss

Balance Sheet

Cash Flow

Key Ratios

Deep Dive Analysis

Valuation Overview

Total Return Calculator

Dividend History

Earnings History

Price History

Revenue History

Financial Ratios

CyberArk Software Ltd. (CYBR) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare CYBR vs Peers

vs PANW

vs CRWD

Compare Top 5

Profit & Loss

Balance Sheet

Cash Flow

Key Ratios

Deep Dive Analysis

Valuation Overview

Total Return Calculator

Dividend History

Earnings History

Price History

Revenue History

Financial Ratios