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

CYBR • • Industrial / General

TechnologyInfrastructure SoftwareCybersecurity & Identity ManagementIdentity & Access 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 $1B +33.1%
EBITDA -$31M +69.0%
Net Income -$93M -40.5%
EPS (Diluted) -2.12 -32.5%
Gross Margin 79.18%
EBITDA Margin -3.08% +76.7%
Operating Margin -7.27% +53.0%
Net Margin -9.34% -5.6%
ROE -5.91% +34.6%
ROIC -3.75% +58.2%
Debt/Equity 0.01 -98.4%
Interest Coverage -17.90 +90.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓FCF machine: 22.1% free cash flow margin
✓Strong 5Y sales CAGR of 18.2%

✗Weaknesses

✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y25.53%

5Y18.19%

3Y25.78%

TTM39.45%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-1157.49%

EPS CAGR

10Y-

5Y-

3Y-

TTM-865.71%

ROCE

10Y Avg1.91%

5Y Avg-6.23%

3Y Avg-8.58%

Latest-4.23%

Peer Comparison

Identity & Access Management

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
OKTAOkta, Inc.	15.58B	91.94	1532.33	15.33%	6.87%	2.83%	4.69%	0.15
OSPNOneSpan Inc.	474.2M	12.47	8.54	3.43%	24.08%	24.4%	9.79%	0.04
AUIDauthID Inc.	25.77M	1.71	-1.22	365.86%	-10.08%	-207.46%		0.02
ARQQArqit Quantum Inc.	422.13M	26.97	-2.50	-54.22%	-111.19%	-7.53%		0.08
SAILSailPoint, Inc.	10.61B	18.90	-9.55	23.16%	-29.2%	-4.35%
VRNSVaronis Systems, Inc.	4B	33.96	-39.49	10.38%	-18.82%	-18.94%	2.71%	1.66
CYBRCyberArk Software Ltd.	22.9B	453.65	-213.99	33.1%	-13.78%	-7.13%	0.96%	0.01

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	160.81M	216.61M	261.7M	343.2M	433.89M	464.43M	502.92M	591.71M	751.89M	1B
Revenue Growth %	0.56%	0.35%	0.21%	0.31%	0.26%	0.07%	0.08%	0.18%	0.27%	0.33%
Cost of Goods Sold+	22.66M	30.15M	41.85M	48.46M	62.62M	82.57M	93.31M	126.05M	156.13M	208.38M
COGS % of Revenue	0.14%	0.14%	0.16%	0.14%	0.14%	0.18%	0.19%	0.21%	0.21%	0.21%
Gross Profit+	138.15M	186.46M	219.85M	294.74M	371.28M	381.86M	409.61M	465.66M	595.76M	792.37M
Gross Margin %	0.86%	0.86%	0.84%	0.86%	0.86%	0.82%	0.81%	0.79%	0.79%	0.79%
Gross Profit Growth %	0.56%	0.35%	0.18%	0.34%	0.26%	0.03%	0.07%	0.14%	0.28%	0.33%
Operating Expenses+	104.93M	150.51M	199.53M	247.45M	309M	375.85M	487.95M	618.11M	712.23M	865.17M
OpEx % of Revenue	0.65%	0.69%	0.76%	0.72%	0.71%	0.81%	0.97%	1.04%	0.95%	0.86%
Selling, General & Admin	83.2M	115.89M	157.14M	190.33M	236.48M	280.43M	345.83M	427.79M	500.78M	622.11M
SG&A % of Revenue	0.52%	0.54%	0.6%	0.55%	0.55%	0.6%	0.69%	0.72%	0.67%	0.62%
Research & Development	21.73M	34.61M	42.39M	57.11M	72.52M	95.43M	142.12M	190.32M	211.44M	243.06M
R&D % of Revenue	0.14%	0.16%	0.16%	0.17%	0.17%	0.21%	0.28%	0.32%	0.28%	0.24%
Other Operating Expenses	0	0	0	0	0	0	0	0	0	0
Operating Income+	33.22M	35.96M	20.33M	47.29M	62.28M	6.01M	-78.34M	-152.45M	-116.47M	-72.8M
Operating Margin %	0.21%	0.17%	0.08%	0.14%	0.14%	0.01%	-0.16%	-0.26%	-0.15%	-0.07%
Operating Income Growth %	0.62%	0.08%	-0.43%	1.33%	0.32%	-0.9%	-14.04%	-0.95%	0.24%	0.37%
EBITDA+	35.48M	42.44M	28.18M	85.18M	106.78M	21.48M	-64.11M	-136.25M	-99.29M	-30.82M
EBITDA Margin %	0.22%	0.2%	0.11%	0.25%	0.25%	0.05%	-0.13%	-0.23%	-0.13%	-0.03%
EBITDA Growth %	0.67%	0.2%	-0.34%	2.02%	0.25%	-0.8%	-3.98%	-1.13%	0.27%	0.69%
D&A (Non-Cash Add-back)	2.25M	6.49M	7.86M	37.88M	44.5M	15.47M	14.23M	16.2M	17.18M	41.98M
EBIT	33.22M	36.34M	24.43M	52.02M	72.32M	16.79M	-73.29M	-133.77M	-60.95M	-13.31M
Net Interest Income+	244K	1.21M	2.37M	5.6M	8.6M	-7.08M	-12.48M	13.87M	51.65M	54.35M
Interest Income	330K	1.36M	2.53M	5.78M	10.84M	10.38M	5.56M	17.12M	52.24M	58.42M
Interest Expense	86K	144K	158K	177K	2.24M	17.46M	18.04M	3.25M	598K	4.07M
Other Income/Expense	-1.48M	245K	4.1M	4.55M	7.8M	-6.39M	-12.99M	15.43M	53.21M	56.84M
Pretax Income+	31.74M	36.2M	24.43M	51.84M	70.08M	-389K	-91.33M	-137.02M	-63.26M	-15.97M
Pretax Margin %	0.2%	0.17%	0.09%	0.15%	0.16%	-0%	-0.18%	-0.23%	-0.08%	-0.02%
Income Tax+	5.95M	8.08M	8.41M	4.77M	7.02M	5.37M	-7.38M	-6.65M	3.25M	77.5M
Effective Tax Rate %	0.81%	0.78%	0.66%	0.91%	0.9%	14.8%	0.92%	0.95%	1.05%	5.85%
Net Income+	25.79M	28.12M	16.02M	47.07M	63.06M	-5.76M	-83.95M	-130.37M	-66.5M	-93.46M
Net Margin %	0.16%	0.13%	0.06%	0.14%	0.15%	-0.01%	-0.17%	-0.22%	-0.09%	-0.09%
Net Income Growth %	1.59%	0.09%	-0.43%	1.94%	0.34%	-1.09%	-13.58%	-0.55%	0.49%	-0.41%
Net Income (Continuing)	25.79M	28.12M	16.02M	47.07M	63.06M	-5.76M	-83.95M	-130.37M	-66.5M	-93.46M
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)+	0.73	0.78	0.44	1.27	1.62	-0.15	-2.12	-3.21	-1.60	-2.12
EPS Growth %	1.15%	0.07%	-0.44%	1.89%	0.28%	-1.09%	-13.13%	-0.51%	0.5%	-0.33%
EPS (Basic)	0.80	0.83	0.46	1.30	1.68	-0.15	-2.12	-3.21	-1.60	-2.12
Diluted Shares Outstanding	35.32M	35.84M	36.18M	37.07M	38.89M	38.63M	39.65M	40.58M	41.66M	44.18M
Basic Shares Outstanding	32.12M	33.74M	34.82M	36.17M	37.59M	38.63M	39.65M	40.58M	41.66M	44.18M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	261.95M	313.17M	355.65M	481.76M	1.15B	1.06B	1.06B	1.1B	1.21B	1.19B
Cash & Short-Term Investments	238.25M	275.03M	302.93M	426.98M	1.06B	952.99M	926.43M	954.28M	993.42M	819.78M
Cash Only	234.54M	172.96M	161.26M	260.64M	792.36M	499.99M	356.85M	347.34M	355.93M	526.47M
Short-Term Investments	3.71M	102.08M	141.67M	166.35M	272.48M	453M	569.58M	606.94M	637.49M	293.31M
Accounts Receivable	20.41M	33.33M	45.31M	48.43M	72.95M	93.13M	113.21M	120.82M	186.47M	328.46M
Days Sales Outstanding	46.33	56.16	63.2	51.51	61.37	73.19	82.16	74.53	90.52	119.8
Inventory	0	0	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	1.14M	1.64M	3.32M	3.47M	3.4M	7.97M	6.66M	7.32M	12.42M	19.47M
Total Non-Current Assets+	72.47M	89.86M	146.92M	191.86M	258.96M	500.92M	631.34M	721.82M	810.76M	2.15B
Property, Plant & Equipment	3.58M	4.76M	9.23M	15.12M	16.47M	18.54M	20.18M	23.47M	48.68M	19.58M
Fixed Asset Turnover	44.87x	45.51x	28.35x	22.70x	26.34x	25.05x	24.92x	25.21x	15.45x	51.11x
Goodwill	35.15M	35.15M	69.22M	82.4M	82.4M	123.72M	123.72M	153.24M	153.24M	1.32B
Intangible Assets	18.56M	14.04M	15.66M	14.73M	9.14M	23.68M	17.87M	27.51M	20.2M	534.73M
Long-Term Investments	0	20.44M	27.41M	24.26M	54.41M	202.19M	300.66M	227.75M	324.55M	21.34M
Other Non-Current Assets	5.18M	5.09M	6.06M	31.86M	72.09M	99.99M	121.74M	217.04M	182.63M	258.53M
Total Assets+	334.42M	403.03M	502.58M	673.62M	1.41B	1.56B	1.69B	1.82B	2.02B	3.35B
Asset Turnover	0.48x	0.54x	0.52x	0.51x	0.31x	0.30x	0.30x	0.33x	0.37x	0.30x
Asset Growth %	0.59%	0.21%	0.25%	0.34%	1.09%	0.11%	0.08%	0.07%	0.11%	0.66%
Total Current Liabilities+	64.86M	78.16M	104.41M	143.42M	192.67M	247.01M	340M	452.47M	1.12B	807.43M
Accounts Payable	2.53M	2.7M	1.96M	4.92M	5.67M	8.25M	10.08M	13.64M	10.97M	23.67M
Days Payables Outstanding	40.75	32.67	17.1	37.09	33.08	36.47	39.42	39.5	25.65	41.46
Short-Term Debt	0	0	0	0	0	0	0	0	572.34M	0
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	9.37M	6.4M	7.24M	11.46M	17.48M	11.06M	7.83M	13.49M	28.32M	21.66M
Current Ratio	4.04x	4.01x	3.41x	3.36x	5.95x	4.30x	3.12x	2.43x	1.08x	1.48x
Quick Ratio	4.04x	4.01x	3.41x	3.36x	5.95x	4.30x	3.12x	2.43x	1.08x	1.48x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	22.89M	28.66M	44.2M	63.43M	588.36M	608.05M	626.69M	688.78M	105.25M	171.16M
Long-Term Debt	0	0	0	0	485.12M	502.3M	520.09M	569.34M	0	0
Capital Lease Obligations	0	0	0	0	0	16.2M	0	0	22.29M	18.21M
Deferred Tax Liabilities	754K	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	4.86M	5.26M	5.95M	6.27M	31.41M	8.72M	20.23M	38.92M	11.55M	57.76M
Total Liabilities	87.75M	106.81M	148.61M	206.85M	781.03M	855.06M	966.69M	1.14B	1.23B	978.59M
Total Debt+	0	0	0	0	485.12M	525.53M	527.07M	577.2M	602.87M	29.32M
Net Debt	-234.54M	-172.96M	-161.26M	-260.64M	-307.24M	25.54M	170.22M	229.86M	246.94M	-497.15M
Debt / Equity	-	-	-	-	0.78x	0.74x	0.73x	0.85x	0.76x	0.01x
Debt / EBITDA	-	-	-	-	4.54x	24.46x	-	-	-	-
Net Debt / EBITDA	-6.61x	-4.07x	-5.72x	-3.06x	-2.88x	1.19x	-	-	-	-
Interest Coverage	386.30x	249.69x	128.65x	267.19x	27.81x	0.34x	-4.34x	-46.92x	-194.77x	-17.90x
Total Equity+	246.67M	296.22M	353.96M	466.77M	624.13M	707.29M	726.51M	678.14M	792.33M	2.37B
Equity Growth %	0.59%	0.2%	0.19%	0.32%	0.34%	0.13%	0.03%	-0.07%	0.17%	1.99%
Book Value per Share	6.98	8.27	9.78	12.59	16.05	18.31	18.33	16.71	19.02	53.64
Total Shareholders' Equity	246.67M	296.22M	353.96M	466.77M	624.13M	707.29M	726.51M	678.14M	792.33M	2.37B
Common Stock	86K	88K	91K	95K	99K	101K	104K	107K	111K	130K
Retained Earnings	46.57M	74.69M	103.89M	163.71M	226.78M	221.02M	137.07M	33.31M	-33.2M	-126.66M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-93K	-175K	107K	-939K	818K	4.17M	397K	-15.56M	-1.85M	2.17M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	59.16M	56.31M	80.74M	130.13M	141.71M	106.77M	74.74M	49.71M	56.2M	231.89M
Operating CF Margin %	0.37%	0.26%	0.31%	0.38%	0.33%	0.23%	0.15%	0.08%	0.07%	0.23%
Operating CF Growth %	1.48%	-0.05%	0.43%	0.61%	0.09%	-0.25%	-0.3%	-0.33%	0.13%	3.13%
Net Income	25.79M	28.12M	16.02M	47.07M	63.06M	-5.76M	-83.95M	-130.37M	-66.5M	-93.46M
Depreciation & Amortization	2.25M	6.49M	7.86M	10.08M	10.65M	15.47M	14.23M	16.2M	19.25M	41.98M
Stock-Based Compensation	7.05M	17.54M	25.24M	35.96M	55.52M	71.85M	95.44M	120.82M	140.1M	168.77M
Deferred Taxes	-4.09M	-1.13M	5.86M	-7.06M	-6.97M	-1.99M	-11.97M	-15.63M	-7.88M	66.29M
Other Non-Cash Items	-3.81M	-1.19M	382K	293K	1.92M	20.25M	25.32M	6.87M	-1.57M	-5.5M
Working Capital Changes	31.96M	6.48M	25.39M	43.77M	17.54M	6.94M	35.67M	51.81M	-27.19M	53.8M
Change in Receivables	-187K	-12.92M	-11.63M	-3.12M	-24.52M	-17.32M	-20.08M	-7.61M	-65.66M	-93.3M
Change in Inventory	0	0	0	0	0	0	0	0	0	0
Change in Payables	322K	-177K	-1.29M	1.96M	1.57M	558K	1.5M	4.05M	-2.67M	11M
Cash from Investing+	-7.01M	-122.23M	-95M	-48.74M	-143.22M	-412.39M	-228.19M	-68.39M	-85.83M	-346.26M
Capital Expenditures	-2.07M	-2.79M	-6.76M	-8.61M	-7.04M	-7.17M	-8.93M	-12.52M	-4.95M	-11.06M
CapEx % of Revenue	0.01%	0.01%	0.03%	0.03%	0.02%	0.02%	0.02%	0.02%	0.01%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	0	0	0	0	0	0	0	0	0
Cash from Financing+	58.21M	3.97M	2.62M	17.98M	532.04M	13.25M	10.95M	12.22M	38.08M	288.81M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	3.81M	1.47M	0	0	-52.49M	1.07M	-789K	10.26M	27.02M	261.63M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	57.09M	53.52M	73.98M	121.51M	134.67M	99.59M	65.81M	37.19M	51.26M	220.83M
FCF Margin %	0.36%	0.25%	0.28%	0.35%	0.31%	0.21%	0.13%	0.06%	0.07%	0.22%
FCF Growth %	1.55%	-0.06%	0.38%	0.64%	0.11%	-0.26%	-0.34%	-0.43%	0.38%	3.31%
FCF per Share	1.62	1.49	2.05	3.28	3.46	2.58	1.66	0.92	1.23	5.00
FCF Conversion (FCF/Net Income)	2.29x	2.00x	5.04x	2.76x	2.25x	-18.54x	-0.89x	-0.38x	-0.85x	-2.48x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	4.76M	10.58M	3.37M	6.38M	10.55M	11.42M	8.4M	9.3M	11.44M	14.84M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	12.84%	10.36%	4.93%	11.47%	11.56%	-0.86%	-11.71%	-18.56%	-9.05%	-5.91%
Return on Invested Capital (ROIC)	116.01%	39.84%	9.65%	17.79%	17.86%	0.86%	-7.21%	-12.67%	-8.97%	-3.75%
Gross Margin	85.91%	86.08%	84.01%	85.88%	85.57%	82.22%	81.45%	78.7%	79.23%	79.18%
Net Margin	16.04%	12.98%	6.12%	13.72%	14.53%	-1.24%	-16.69%	-22.03%	-8.84%	-9.34%
Debt / Equity	-	-	-	-	0.78x	0.74x	0.73x	0.85x	0.76x	0.01x
Interest Coverage	386.30x	249.69x	128.65x	267.19x	27.81x	0.34x	-4.34x	-46.92x	-194.77x	-17.90x
FCF Conversion	2.29x	2.00x	5.04x	2.76x	2.25x	-18.54x	-0.89x	-0.38x	-0.85x	-2.48x
Revenue Growth	56.13%	34.7%	20.82%	31.14%	26.43%	7.04%	8.29%	17.66%	27.07%	33.1%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Saas	-	-	-	-	-	-	69.3M	166.36M	298.33M	468.68M
Saas Growth	-	-	-	-	-	-	-	140.05%	79.33%	57.10%
Self Hosted Subscription	-	-	-	-	-	-	65.33M	114.29M	173.69M	264.6M
Self Hosted Subscription Growth	-	-	-	-	-	-	-	74.95%	51.98%	52.34%
Maintenance and support	-	-	-	-	159.73M	197.27M	214.04M	217.69M	207.56M	196.98M
Maintenance and support Growth	-	-	-	-	-	23.50%	8.50%	1.71%	-4.66%	-5.10%
Professional services	-	-	-	-	36.29M	41.05M	38.52M	43.4M	51.27M	56.04M
Professional services Growth	-	-	-	-	-	13.12%	-6.17%	12.69%	18.12%	9.30%
Perpetual License	-	-	-	-	-	-	115.74M	49.96M	21.04M	14.45M
Perpetual License Growth	-	-	-	-	-	-	-	-56.83%	-57.90%	-31.32%
License	-	-	-	-	237.88M	226.11M	-	-	-	-
License Growth	-	-	-	-	-	-4.95%	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
United States	-	125.75M	145.45M	187.7M	233.94M	246.81M	253.81M	312.82M	393.36M	503.36M
United States Growth	-	-	15.67%	29.05%	24.64%	5.50%	2.84%	23.25%	25.75%	27.97%
Europe, the Middle East and Africa	-	-	49.66M	78.53M	85.76M	101.45M	120.38M	130.75M	173.2M	243.1M
Europe, the Middle East and Africa Growth	-	-	-	58.13%	9.21%	18.30%	18.66%	8.61%	32.47%	40.36%
Other Country	18.13M	22.77M	34.47M	-	-	-	85.78M	100.55M	132.79M	185.79M
Other Country Growth	-	25.57%	51.38%	-	-	-	-	17.22%	32.07%	39.91%
ISRAEL	5.2M	6.82M	7.28M	6.91M	7.83M	7.31M	7.42M	6.3M	6.78M	8.26M
ISRAEL Growth	-	31.04%	6.81%	-5.12%	13.29%	-6.58%	1.42%	-15.02%	7.65%	21.71%
Other	-	-	-	43.41M	70.22M	75.75M	-	-	-	-
Other Growth	-	-	-	-	61.76%	7.88%	-	-	-	-
EMEA	28.7M	39.58M	-	-	-	-	-	-	-	-
EMEA Growth	-	37.92%	-	-	-	-	-	-	-	-
UNITED STATES	92.03M	-	-	-	-	-	-	-	-	-
UNITED STATES Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

CyberArk Software Ltd. (CYBR) reported $1.20B in revenue for fiscal year 2024. This represents a 2442% increase from $47.2M in 2012.

CyberArk Software Ltd. (CYBR) grew revenue by 33.1% over the past year. This is strong growth.

CyberArk Software Ltd. (CYBR) reported a net loss of $165.4M for fiscal year 2024.

Dividend & Returns

CyberArk Software Ltd. (CYBR) has a return on equity (ROE) of -5.9%. Negative ROE indicates the company is unprofitable.

CyberArk Software Ltd. (CYBR) generated $207.5M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

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

CYBR • • Industrial / General

TechnologyInfrastructure SoftwareCybersecurity & Identity ManagementIdentity & Access Management

Revenue $1B +33.1%
EBITDA -$31M +69.0%
Net Income -$93M -40.5%
EPS (Diluted) -2.12 -32.5%
Gross Margin 79.18%
EBITDA Margin -3.08% +76.7%
Operating Margin -7.27% +53.0%
Net Margin -9.34% -5.6%
ROE -5.91% +34.6%
ROIC -3.75% +58.2%
Debt/Equity 0.01 -98.4%
Interest Coverage -17.90 +90.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓FCF machine: 22.1% free cash flow margin
✓Strong 5Y sales CAGR of 18.2%

✗Weaknesses

✗Low asset turnover indicates capital-intensive operations

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y25.53%

5Y18.19%

3Y25.78%

TTM39.45%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-1157.49%

EPS CAGR

10Y-

5Y-

3Y-

TTM-865.71%

ROCE

10Y Avg1.91%

5Y Avg-6.23%

3Y Avg-8.58%

Latest-4.23%

Peer Comparison

Identity & Access Management

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
OKTAOkta, Inc.	15.58B	91.94	1532.33	15.33%	6.87%	2.83%	4.69%	0.15
OSPNOneSpan Inc.	474.2M	12.47	8.54	3.43%	24.08%	24.4%	9.79%	0.04
AUIDauthID Inc.	25.77M	1.71	-1.22	365.86%	-10.08%	-207.46%		0.02
ARQQArqit Quantum Inc.	422.13M	26.97	-2.50	-54.22%	-111.19%	-7.53%		0.08
SAILSailPoint, Inc.	10.61B	18.90	-9.55	23.16%	-29.2%	-4.35%
VRNSVaronis Systems, Inc.	4B	33.96	-39.49	10.38%	-18.82%	-18.94%	2.71%	1.66
CYBRCyberArk Software Ltd.	22.9B	453.65	-213.99	33.1%	-13.78%	-7.13%	0.96%	0.01

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	160.81M	216.61M	261.7M	343.2M	433.89M	464.43M	502.92M	591.71M	751.89M	1B
Revenue Growth %	0.56%	0.35%	0.21%	0.31%	0.26%	0.07%	0.08%	0.18%	0.27%	0.33%
Cost of Goods Sold+	22.66M	30.15M	41.85M	48.46M	62.62M	82.57M	93.31M	126.05M	156.13M	208.38M
COGS % of Revenue	0.14%	0.14%	0.16%	0.14%	0.14%	0.18%	0.19%	0.21%	0.21%	0.21%
Gross Profit+	138.15M	186.46M	219.85M	294.74M	371.28M	381.86M	409.61M	465.66M	595.76M	792.37M
Gross Margin %	0.86%	0.86%	0.84%	0.86%	0.86%	0.82%	0.81%	0.79%	0.79%	0.79%
Gross Profit Growth %	0.56%	0.35%	0.18%	0.34%	0.26%	0.03%	0.07%	0.14%	0.28%	0.33%
Operating Expenses+	104.93M	150.51M	199.53M	247.45M	309M	375.85M	487.95M	618.11M	712.23M	865.17M
OpEx % of Revenue	0.65%	0.69%	0.76%	0.72%	0.71%	0.81%	0.97%	1.04%	0.95%	0.86%
Selling, General & Admin	83.2M	115.89M	157.14M	190.33M	236.48M	280.43M	345.83M	427.79M	500.78M	622.11M
SG&A % of Revenue	0.52%	0.54%	0.6%	0.55%	0.55%	0.6%	0.69%	0.72%	0.67%	0.62%
Research & Development	21.73M	34.61M	42.39M	57.11M	72.52M	95.43M	142.12M	190.32M	211.44M	243.06M
R&D % of Revenue	0.14%	0.16%	0.16%	0.17%	0.17%	0.21%	0.28%	0.32%	0.28%	0.24%
Other Operating Expenses	0	0	0	0	0	0	0	0	0	0
Operating Income+	33.22M	35.96M	20.33M	47.29M	62.28M	6.01M	-78.34M	-152.45M	-116.47M	-72.8M
Operating Margin %	0.21%	0.17%	0.08%	0.14%	0.14%	0.01%	-0.16%	-0.26%	-0.15%	-0.07%
Operating Income Growth %	0.62%	0.08%	-0.43%	1.33%	0.32%	-0.9%	-14.04%	-0.95%	0.24%	0.37%
EBITDA+	35.48M	42.44M	28.18M	85.18M	106.78M	21.48M	-64.11M	-136.25M	-99.29M	-30.82M
EBITDA Margin %	0.22%	0.2%	0.11%	0.25%	0.25%	0.05%	-0.13%	-0.23%	-0.13%	-0.03%
EBITDA Growth %	0.67%	0.2%	-0.34%	2.02%	0.25%	-0.8%	-3.98%	-1.13%	0.27%	0.69%
D&A (Non-Cash Add-back)	2.25M	6.49M	7.86M	37.88M	44.5M	15.47M	14.23M	16.2M	17.18M	41.98M
EBIT	33.22M	36.34M	24.43M	52.02M	72.32M	16.79M	-73.29M	-133.77M	-60.95M	-13.31M
Net Interest Income+	244K	1.21M	2.37M	5.6M	8.6M	-7.08M	-12.48M	13.87M	51.65M	54.35M
Interest Income	330K	1.36M	2.53M	5.78M	10.84M	10.38M	5.56M	17.12M	52.24M	58.42M
Interest Expense	86K	144K	158K	177K	2.24M	17.46M	18.04M	3.25M	598K	4.07M
Other Income/Expense	-1.48M	245K	4.1M	4.55M	7.8M	-6.39M	-12.99M	15.43M	53.21M	56.84M
Pretax Income+	31.74M	36.2M	24.43M	51.84M	70.08M	-389K	-91.33M	-137.02M	-63.26M	-15.97M
Pretax Margin %	0.2%	0.17%	0.09%	0.15%	0.16%	-0%	-0.18%	-0.23%	-0.08%	-0.02%
Income Tax+	5.95M	8.08M	8.41M	4.77M	7.02M	5.37M	-7.38M	-6.65M	3.25M	77.5M
Effective Tax Rate %	0.81%	0.78%	0.66%	0.91%	0.9%	14.8%	0.92%	0.95%	1.05%	5.85%
Net Income+	25.79M	28.12M	16.02M	47.07M	63.06M	-5.76M	-83.95M	-130.37M	-66.5M	-93.46M
Net Margin %	0.16%	0.13%	0.06%	0.14%	0.15%	-0.01%	-0.17%	-0.22%	-0.09%	-0.09%
Net Income Growth %	1.59%	0.09%	-0.43%	1.94%	0.34%	-1.09%	-13.58%	-0.55%	0.49%	-0.41%
Net Income (Continuing)	25.79M	28.12M	16.02M	47.07M	63.06M	-5.76M	-83.95M	-130.37M	-66.5M	-93.46M
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)+	0.73	0.78	0.44	1.27	1.62	-0.15	-2.12	-3.21	-1.60	-2.12
EPS Growth %	1.15%	0.07%	-0.44%	1.89%	0.28%	-1.09%	-13.13%	-0.51%	0.5%	-0.33%
EPS (Basic)	0.80	0.83	0.46	1.30	1.68	-0.15	-2.12	-3.21	-1.60	-2.12
Diluted Shares Outstanding	35.32M	35.84M	36.18M	37.07M	38.89M	38.63M	39.65M	40.58M	41.66M	44.18M
Basic Shares Outstanding	32.12M	33.74M	34.82M	36.17M	37.59M	38.63M	39.65M	40.58M	41.66M	44.18M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	261.95M	313.17M	355.65M	481.76M	1.15B	1.06B	1.06B	1.1B	1.21B	1.19B
Cash & Short-Term Investments	238.25M	275.03M	302.93M	426.98M	1.06B	952.99M	926.43M	954.28M	993.42M	819.78M
Cash Only	234.54M	172.96M	161.26M	260.64M	792.36M	499.99M	356.85M	347.34M	355.93M	526.47M
Short-Term Investments	3.71M	102.08M	141.67M	166.35M	272.48M	453M	569.58M	606.94M	637.49M	293.31M
Accounts Receivable	20.41M	33.33M	45.31M	48.43M	72.95M	93.13M	113.21M	120.82M	186.47M	328.46M
Days Sales Outstanding	46.33	56.16	63.2	51.51	61.37	73.19	82.16	74.53	90.52	119.8
Inventory	0	0	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	1.14M	1.64M	3.32M	3.47M	3.4M	7.97M	6.66M	7.32M	12.42M	19.47M
Total Non-Current Assets+	72.47M	89.86M	146.92M	191.86M	258.96M	500.92M	631.34M	721.82M	810.76M	2.15B
Property, Plant & Equipment	3.58M	4.76M	9.23M	15.12M	16.47M	18.54M	20.18M	23.47M	48.68M	19.58M
Fixed Asset Turnover	44.87x	45.51x	28.35x	22.70x	26.34x	25.05x	24.92x	25.21x	15.45x	51.11x
Goodwill	35.15M	35.15M	69.22M	82.4M	82.4M	123.72M	123.72M	153.24M	153.24M	1.32B
Intangible Assets	18.56M	14.04M	15.66M	14.73M	9.14M	23.68M	17.87M	27.51M	20.2M	534.73M
Long-Term Investments	0	20.44M	27.41M	24.26M	54.41M	202.19M	300.66M	227.75M	324.55M	21.34M
Other Non-Current Assets	5.18M	5.09M	6.06M	31.86M	72.09M	99.99M	121.74M	217.04M	182.63M	258.53M
Total Assets+	334.42M	403.03M	502.58M	673.62M	1.41B	1.56B	1.69B	1.82B	2.02B	3.35B
Asset Turnover	0.48x	0.54x	0.52x	0.51x	0.31x	0.30x	0.30x	0.33x	0.37x	0.30x
Asset Growth %	0.59%	0.21%	0.25%	0.34%	1.09%	0.11%	0.08%	0.07%	0.11%	0.66%
Total Current Liabilities+	64.86M	78.16M	104.41M	143.42M	192.67M	247.01M	340M	452.47M	1.12B	807.43M
Accounts Payable	2.53M	2.7M	1.96M	4.92M	5.67M	8.25M	10.08M	13.64M	10.97M	23.67M
Days Payables Outstanding	40.75	32.67	17.1	37.09	33.08	36.47	39.42	39.5	25.65	41.46
Short-Term Debt	0	0	0	0	0	0	0	0	572.34M	0
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	9.37M	6.4M	7.24M	11.46M	17.48M	11.06M	7.83M	13.49M	28.32M	21.66M
Current Ratio	4.04x	4.01x	3.41x	3.36x	5.95x	4.30x	3.12x	2.43x	1.08x	1.48x
Quick Ratio	4.04x	4.01x	3.41x	3.36x	5.95x	4.30x	3.12x	2.43x	1.08x	1.48x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	22.89M	28.66M	44.2M	63.43M	588.36M	608.05M	626.69M	688.78M	105.25M	171.16M
Long-Term Debt	0	0	0	0	485.12M	502.3M	520.09M	569.34M	0	0
Capital Lease Obligations	0	0	0	0	0	16.2M	0	0	22.29M	18.21M
Deferred Tax Liabilities	754K	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	4.86M	5.26M	5.95M	6.27M	31.41M	8.72M	20.23M	38.92M	11.55M	57.76M
Total Liabilities	87.75M	106.81M	148.61M	206.85M	781.03M	855.06M	966.69M	1.14B	1.23B	978.59M
Total Debt+	0	0	0	0	485.12M	525.53M	527.07M	577.2M	602.87M	29.32M
Net Debt	-234.54M	-172.96M	-161.26M	-260.64M	-307.24M	25.54M	170.22M	229.86M	246.94M	-497.15M
Debt / Equity	-	-	-	-	0.78x	0.74x	0.73x	0.85x	0.76x	0.01x
Debt / EBITDA	-	-	-	-	4.54x	24.46x	-	-	-	-
Net Debt / EBITDA	-6.61x	-4.07x	-5.72x	-3.06x	-2.88x	1.19x	-	-	-	-
Interest Coverage	386.30x	249.69x	128.65x	267.19x	27.81x	0.34x	-4.34x	-46.92x	-194.77x	-17.90x
Total Equity+	246.67M	296.22M	353.96M	466.77M	624.13M	707.29M	726.51M	678.14M	792.33M	2.37B
Equity Growth %	0.59%	0.2%	0.19%	0.32%	0.34%	0.13%	0.03%	-0.07%	0.17%	1.99%
Book Value per Share	6.98	8.27	9.78	12.59	16.05	18.31	18.33	16.71	19.02	53.64
Total Shareholders' Equity	246.67M	296.22M	353.96M	466.77M	624.13M	707.29M	726.51M	678.14M	792.33M	2.37B
Common Stock	86K	88K	91K	95K	99K	101K	104K	107K	111K	130K
Retained Earnings	46.57M	74.69M	103.89M	163.71M	226.78M	221.02M	137.07M	33.31M	-33.2M	-126.66M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-93K	-175K	107K	-939K	818K	4.17M	397K	-15.56M	-1.85M	2.17M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	59.16M	56.31M	80.74M	130.13M	141.71M	106.77M	74.74M	49.71M	56.2M	231.89M
Operating CF Margin %	0.37%	0.26%	0.31%	0.38%	0.33%	0.23%	0.15%	0.08%	0.07%	0.23%
Operating CF Growth %	1.48%	-0.05%	0.43%	0.61%	0.09%	-0.25%	-0.3%	-0.33%	0.13%	3.13%
Net Income	25.79M	28.12M	16.02M	47.07M	63.06M	-5.76M	-83.95M	-130.37M	-66.5M	-93.46M
Depreciation & Amortization	2.25M	6.49M	7.86M	10.08M	10.65M	15.47M	14.23M	16.2M	19.25M	41.98M
Stock-Based Compensation	7.05M	17.54M	25.24M	35.96M	55.52M	71.85M	95.44M	120.82M	140.1M	168.77M
Deferred Taxes	-4.09M	-1.13M	5.86M	-7.06M	-6.97M	-1.99M	-11.97M	-15.63M	-7.88M	66.29M
Other Non-Cash Items	-3.81M	-1.19M	382K	293K	1.92M	20.25M	25.32M	6.87M	-1.57M	-5.5M
Working Capital Changes	31.96M	6.48M	25.39M	43.77M	17.54M	6.94M	35.67M	51.81M	-27.19M	53.8M
Change in Receivables	-187K	-12.92M	-11.63M	-3.12M	-24.52M	-17.32M	-20.08M	-7.61M	-65.66M	-93.3M
Change in Inventory	0	0	0	0	0	0	0	0	0	0
Change in Payables	322K	-177K	-1.29M	1.96M	1.57M	558K	1.5M	4.05M	-2.67M	11M
Cash from Investing+	-7.01M	-122.23M	-95M	-48.74M	-143.22M	-412.39M	-228.19M	-68.39M	-85.83M	-346.26M
Capital Expenditures	-2.07M	-2.79M	-6.76M	-8.61M	-7.04M	-7.17M	-8.93M	-12.52M	-4.95M	-11.06M
CapEx % of Revenue	0.01%	0.01%	0.03%	0.03%	0.02%	0.02%	0.02%	0.02%	0.01%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	0	0	0	0	0	0	0	0	0
Cash from Financing+	58.21M	3.97M	2.62M	17.98M	532.04M	13.25M	10.95M	12.22M	38.08M	288.81M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	3.81M	1.47M	0	0	-52.49M	1.07M	-789K	10.26M	27.02M	261.63M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	57.09M	53.52M	73.98M	121.51M	134.67M	99.59M	65.81M	37.19M	51.26M	220.83M
FCF Margin %	0.36%	0.25%	0.28%	0.35%	0.31%	0.21%	0.13%	0.06%	0.07%	0.22%
FCF Growth %	1.55%	-0.06%	0.38%	0.64%	0.11%	-0.26%	-0.34%	-0.43%	0.38%	3.31%
FCF per Share	1.62	1.49	2.05	3.28	3.46	2.58	1.66	0.92	1.23	5.00
FCF Conversion (FCF/Net Income)	2.29x	2.00x	5.04x	2.76x	2.25x	-18.54x	-0.89x	-0.38x	-0.85x	-2.48x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	4.76M	10.58M	3.37M	6.38M	10.55M	11.42M	8.4M	9.3M	11.44M	14.84M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	12.84%	10.36%	4.93%	11.47%	11.56%	-0.86%	-11.71%	-18.56%	-9.05%	-5.91%
Return on Invested Capital (ROIC)	116.01%	39.84%	9.65%	17.79%	17.86%	0.86%	-7.21%	-12.67%	-8.97%	-3.75%
Gross Margin	85.91%	86.08%	84.01%	85.88%	85.57%	82.22%	81.45%	78.7%	79.23%	79.18%
Net Margin	16.04%	12.98%	6.12%	13.72%	14.53%	-1.24%	-16.69%	-22.03%	-8.84%	-9.34%
Debt / Equity	-	-	-	-	0.78x	0.74x	0.73x	0.85x	0.76x	0.01x
Interest Coverage	386.30x	249.69x	128.65x	267.19x	27.81x	0.34x	-4.34x	-46.92x	-194.77x	-17.90x
FCF Conversion	2.29x	2.00x	5.04x	2.76x	2.25x	-18.54x	-0.89x	-0.38x	-0.85x	-2.48x
Revenue Growth	56.13%	34.7%	20.82%	31.14%	26.43%	7.04%	8.29%	17.66%	27.07%	33.1%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Saas	-	-	-	-	-	-	69.3M	166.36M	298.33M	468.68M
Saas Growth	-	-	-	-	-	-	-	140.05%	79.33%	57.10%
Self Hosted Subscription	-	-	-	-	-	-	65.33M	114.29M	173.69M	264.6M
Self Hosted Subscription Growth	-	-	-	-	-	-	-	74.95%	51.98%	52.34%
Maintenance and support	-	-	-	-	159.73M	197.27M	214.04M	217.69M	207.56M	196.98M
Maintenance and support Growth	-	-	-	-	-	23.50%	8.50%	1.71%	-4.66%	-5.10%
Professional services	-	-	-	-	36.29M	41.05M	38.52M	43.4M	51.27M	56.04M
Professional services Growth	-	-	-	-	-	13.12%	-6.17%	12.69%	18.12%	9.30%
Perpetual License	-	-	-	-	-	-	115.74M	49.96M	21.04M	14.45M
Perpetual License Growth	-	-	-	-	-	-	-	-56.83%	-57.90%	-31.32%
License	-	-	-	-	237.88M	226.11M	-	-	-	-
License Growth	-	-	-	-	-	-4.95%	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
United States	-	125.75M	145.45M	187.7M	233.94M	246.81M	253.81M	312.82M	393.36M	503.36M
United States Growth	-	-	15.67%	29.05%	24.64%	5.50%	2.84%	23.25%	25.75%	27.97%
Europe, the Middle East and Africa	-	-	49.66M	78.53M	85.76M	101.45M	120.38M	130.75M	173.2M	243.1M
Europe, the Middle East and Africa Growth	-	-	-	58.13%	9.21%	18.30%	18.66%	8.61%	32.47%	40.36%
Other Country	18.13M	22.77M	34.47M	-	-	-	85.78M	100.55M	132.79M	185.79M
Other Country Growth	-	25.57%	51.38%	-	-	-	-	17.22%	32.07%	39.91%
ISRAEL	5.2M	6.82M	7.28M	6.91M	7.83M	7.31M	7.42M	6.3M	6.78M	8.26M
ISRAEL Growth	-	31.04%	6.81%	-5.12%	13.29%	-6.58%	1.42%	-15.02%	7.65%	21.71%
Other	-	-	-	43.41M	70.22M	75.75M	-	-	-	-
Other Growth	-	-	-	-	61.76%	7.88%	-	-	-	-
EMEA	28.7M	39.58M	-	-	-	-	-	-	-	-
EMEA Growth	-	37.92%	-	-	-	-	-	-	-	-
UNITED STATES	92.03M	-	-	-	-	-	-	-	-	-
UNITED STATES Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

CyberArk Software Ltd. (CYBR) reported $1.20B in revenue for fiscal year 2024. This represents a 2442% increase from $47.2M in 2012.

CyberArk Software Ltd. (CYBR) grew revenue by 33.1% over the past year. This is strong growth.

CyberArk Software Ltd. (CYBR) reported a net loss of $165.4M for fiscal year 2024.

Dividend & Returns

CyberArk Software Ltd. (CYBR) has a return on equity (ROE) of -5.9%. Negative ROE indicates the company is unprofitable.

CyberArk Software Ltd. (CYBR) generated $207.5M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.