Last 25 quarters of trend data · Consumer Defensive · Education Services
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 55.92 | 65.93 | 43.57 | 27.69 | 52.23 | 13.52 | 112.64 | 107.83 | 289.49 | 143.89 | 102.29 | 96.75 | 226.85 | 693.44 | 449.50 | — | — | — | — | — | — |
| — | +387.5% | -61.3% | -74.3% | -82.0% | -90.6% | +10.1% | +11.5% | +27.6% | -79.3% | -77.2% | — | — | — | — | — | — | — | — | — | — | |
| P/S Ratio | 6.32 | 5.85 | 4.82 | 4.13 | 7.72 | 14.55 | 19.91 | 16.32 | 19.15 | 17.56 | 13.97 | 15.58 | 18.41 | 14.15 | 13.21 | 12.52 | 6.91 | 9.85 | 9.73 | 11.30 | 13.84 |
| — | -59.8% | -75.8% | -74.7% | -59.7% | -17.1% | +42.5% | +4.7% | +4.0% | +24.1% | +5.8% | +24.5% | +166.2% | +43.6% | +35.8% | +10.8% | -50.0% | -49.0% | — | — | — | |
| P/B Ratio | 5.75 | 4.88 | 4.08 | 3.47 | 6.49 | 12.10 | 20.56 | 16.85 | 19.46 | 16.45 | 13.00 | 14.69 | 16.96 | 12.67 | 11.23 | 10.25 | 5.30 | 7.09 | 6.51 | 7.05 | 7.88 |
| — | -59.6% | -80.1% | -79.4% | -66.7% | -26.5% | +58.2% | +14.7% | +14.8% | +29.9% | +15.7% | +43.3% | +220.2% | +78.6% | +72.6% | +45.4% | -32.8% | -26.3% | — | — | — | |
| P/FCF | 18.63 | 24.00 | 18.30 | 8.01 | 22.63 | 49.81 | 56.13 | 36.09 | 49.30 | 63.71 | 43.85 | 31.81 | 61.69 | 59.18 | 49.56 | 51.36 | 67.00 | 180.51 | 91.52 | 50.46 | — |
| — | -51.8% | -67.4% | -77.8% | -54.1% | -21.8% | +28.0% | +13.5% | -20.1% | +7.7% | -11.5% | -38.1% | -7.9% | -67.2% | -45.8% | +1.8% | — | -55.2% | — | — | — | |
| EV / EBITDA | 39.97 | 53.37 | 30.50 | 19.27 | 40.89 | 86.28 | 128.10 | 130.40 | 216.63 | 187.79 | 107.34 | 130.61 | 380.03 | — | — | — | — | — | — | — | — |
| — | -38.1% | -76.2% | -85.2% | -81.1% | -54.1% | +19.3% | -0.2% | -43.0% | — | — | — | — | — | — | — | — | — | — | — | — | |
| EV / EBIT | 46.25 | 42.73 | 33.91 | 17.02 | 35.77 | 80.21 | 103.40 | 101.62 | 171.36 | 125.36 | 79.55 | 93.54 | 541.87 | — | — | — | — | — | — | — | — |
| — | -46.7% | -67.2% | -83.3% | -79.1% | -36.0% | +30.0% | +8.6% | -68.4% | — | — | — | — | — | — | — | — | — | — | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 71.7% | 72.9% | 72.6% | 72.5% | 72.3% | 71.9% | 71.8% | 70.5% | 71.1% | 72.1% | 72.7% | 72.3% | 73.1% | 73.7% | 73.4% | 72.8% | 73.3% | 72.6% | 73.0% | 73.5% | 72.7% |
| — | +1.3% | +1.2% | +2.8% | +1.6% | -0.3% | -1.3% | -2.5% | -2.7% | -2.1% | -0.9% | -0.7% | -0.2% | +1.4% | +0.5% | -1.0% | +0.8% | +1.5% | +0.6% | +0.9% | -0.9% | |
| Operating Margin | 13.6% | 7.8% | 11.4% | 15.4% | 15.5% | 14.6% | 13.5% | 10.3% | 6.7% | 7.3% | 10.7% | 9.8% | 3.2% | -3.4% | -3.8% | -7.4% | -17.5% | -21.0% | -17.0% | -14.6% | -23.9% |
| — | -46.3% | -15.7% | +49.7% | +131.8% | +99.6% | +26.4% | +4.7% | +110.7% | +315.3% | +378.3% | +233.2% | +118.2% | +83.8% | +77.5% | +49.5% | +26.7% | +53.5% | -1992.4% | +39.8% | -8.9% | |
| Net Margin | 39.9% | 8.8% | 11.1% | 14.9% | 14.8% | 107.5% | 17.8% | 15.2% | 6.6% | 12.1% | 13.7% | 16.1% | 8.0% | 2.0% | 2.9% | -2.2% | -13.4% | -19.2% | -17.0% | -15.0% | -24.0% |
| — | -91.8% | -37.4% | -2.2% | +123.5% | +786.6% | +30.0% | -5.4% | -17.3% | +494.7% | +365.0% | +820.7% | +159.8% | +110.6% | +117.3% | +85.1% | +44.1% | +57.9% | -5587.2% | +38.5% | -11.3% |
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 38.1% | 1.9% | 2.4% | 3.2% | 3.2% | 25.6% | 4.8% | 4.1% | 1.7% | 2.9% | 3.3% | 3.9% | 1.9% | 0.5% | 0.6% | -0.5% | -2.6% | -3.5% | -2.9% | -2.4% | -3.4% |
| — | -92.7% | -50.6% | -22.4% | +87.2% | +770.2% | +45.3% | +3.7% | -11.5% | +534.2% | +413.7% | +945.9% | +173.7% | +113.3% | +122.4% | +80.2% | +24.3% | +75.0% | — | — | — | |
| ROA | 25.1% | 1.3% | 1.6% | 2.1% | 2.2% | 17.0% | 3.0% | 2.6% | 1.1% | 2.0% | 2.2% | 2.7% | 1.3% | 0.3% | 0.5% | -0.3% | -1.9% | -2.6% | -2.2% | -1.8% | -2.7% |
| — | -92.5% | -47.2% | -17.4% | +96.1% | +760.7% | +37.8% | -2.5% | -16.9% | +501.6% | +381.2% | +893.7% | +169.6% | +112.6% | +121.1% | +81.4% | +30.4% | +64.0% | -2111.5% | +76.4% | +53.7% | |
| ROIC | 42.3% | 5.7% | 7.7% | 9.0% | 8.2% | 12.1% | 31.5% | 22.2% | 17.3% | 41.7% | — | — | — | — | — | — | — | — | — | — | — |
| — | -53.3% | -75.5% | -59.5% | -52.4% | -71.0% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.07 | 0.06 | 0.06 | 0.07 | 0.07 | 0.07 | 0.10 | 0.06 | 0.07 | 0.07 | 0.07 | 0.08 | 0.04 | 0.04 | 0.05 | 0.05 | 0.05 | 0.05 | 0.06 | 0.06 | 0.06 |
| — | -23.6% | -38.3% | +8.2% | +0.3% | +6.9% | +32.8% | -23.4% | +81.7% | +64.3% | +62.8% | +61.4% | -27.1% | -21.7% | -19.4% | -19.6% | -17.2% | +177.9% | — | — | — | |
| Debt / EBITDA | 0.60 | 2.96 | 2.26 | 1.87 | 1.97 | 2.25 | 2.58 | 2.00 | 3.24 | 3.38 | 2.69 | 3.06 | 3.66 | — | — | — | — | — | — | — | — |
| — | +31.2% | -12.6% | -6.3% | -39.2% | -33.3% | -4.0% | -34.7% | -11.6% | — | — | — | — | — | — | — | — | — | — | — | — | |
| Current Ratio | 2.61 | 2.75 | 2.72 | 2.62 | 2.61 | 2.82 | 2.81 | 2.68 | 2.61 | 3.09 | 3.28 | 3.22 | 3.24 | 3.49 | 3.62 | 3.65 | 3.84 | 4.29 | 4.45 | 4.72 | 5.20 |
| — | -2.4% | -3.2% | -2.3% | -0.1% | -8.8% | -14.3% | -16.6% | -19.4% | -11.3% | -9.3% | -12.0% | -15.6% | -18.8% | -18.7% | -22.5% | -26.2% | -29.0% | +132.7% | +149.5% | +115.6% | |
| Quick Ratio | 2.61 | 2.75 | 2.72 | 2.62 | 2.61 | 2.82 | 2.81 | 2.68 | 2.61 | 3.09 | 3.28 | 3.22 | 3.24 | 3.49 | 3.62 | 3.65 | 3.84 | 4.29 | 4.45 | 4.72 | 5.20 |
| — | -2.4% | -3.2% | -2.3% | -0.1% | -8.8% | -14.3% | -16.6% | -19.4% | -11.3% | -9.3% | -12.0% | -15.6% | -18.8% | -18.7% | -22.5% | -26.2% | -29.0% | +132.7% | +149.5% | +115.6% | |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | -4.25 | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 25 years · Updated daily
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Quick answers to the most common questions about buying DUOL stock.
Duolingo, Inc.'s current P/E is 55.9x. The average P/E over the last 4 quarters is 47.4x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Duolingo, Inc.'s current operating margin is 13.6%. Margins have been compressing 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 Duolingo, Inc.'s business trajectory between earnings reports.