11 years of historical data (2015–2025) · Technology · Software - Infrastructure
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Okta, Inc. trades at 1208.3x earnings, 23% below its 5-year average of 1570.3x, sitting at the 50th percentile of its historical range. Compared to the Technology sector median P/E of 25.2x, the stock trades at a premium of 4689%. On a free-cash-flow basis, the stock trades at 0.8x P/FCF, 100% below the 5-year average of 173.7x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $563M | $16.5B | $13.5B | $11.6B | $29.3B | $32.9B | $15.0B | $8.9B | $2.4B | — | — |
| Enterprise Value | $1.1B | $17.0B | $14.5B | $13.7B | $31.1B | $34.5B | $15.6B | $9.0B | $2.3B | — | — |
| P/E Ratio → | 1208.33 | 1570.33 | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 0.22 | 6.32 | 5.98 | 6.26 | 22.53 | 39.46 | 25.61 | 22.20 | 9.53 | — | — |
| P/B Ratio | 1.98 | 2.58 | 2.30 | 2.13 | 4.95 | 47.47 | 37.03 | 35.11 | 12.26 | — | — |
| P/FCF | 0.77 | 22.60 | 27.71 | 184.64 | 336.72 | 296.84 | 542.20 | — | — | — | — |
| P/OCF | 0.75 | 22.00 | 26.41 | 135.26 | 281.68 | 257.42 | 269.95 | 584.07 | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
Okta, Inc.'s enterprise value stands at 79.0x EBITDA, 94% below its 5-year average of 1217.1x. The Technology sector median is 15.7x, placing the stock at a 402% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 6.53 | 6.40 | 7.39 | 23.90 | 41.30 | 26.61 | 22.52 | 9.03 | — | — |
| EV / EBITDA | 79.03 | 1217.11 | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | 334.11 | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | 23.34 | 29.69 | 218.02 | 357.07 | 310.66 | 563.30 | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Okta, Inc. earns an operating margin of -2.8%. Operating margins have expanded from -43.7% to -2.8% over the past 3 years, signaling improving operational efficiency. ROE of 0.5% is modest.
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 76.3% | 76.3% | 74.3% | 70.6% | 69.5% | 73.9% | 72.8% | 71.6% | 68.5% | 65.2% | 58.1% |
| Operating Margin | -2.8% | -2.8% | -22.8% | -43.7% | -59.1% | -24.4% | -31.7% | -30.0% | -43.6% | -46.4% | -88.5% |
| Net Profit Margin | 1.1% | 1.1% | -15.7% | -43.9% | -65.2% | -31.9% | -35.6% | -31.4% | -42.8% | -46.7% | -88.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 0.5% | 0.5% | -6.3% | -14.3% | -25.6% | -48.4% | -63.5% | -55.6% | -119.6% | -480.5% | -181.2% |
| ROA | 0.3% | 0.3% | -3.9% | -8.8% | -13.6% | -10.1% | -14.2% | -18.1% | -41.5% | -53.5% | -61.8% |
| ROIC | -0.8% | -0.8% | -5.4% | -8.0% | -11.6% | -9.5% | -20.3% | -39.4% | -516.9% | — | -981.0% |
| ROCE | -1.0% | -1.0% | -6.9% | -10.3% | -15.8% | -12.9% | -20.4% | -38.4% | -107.8% | -254.1% | -139.2% |
Solvency and debt-coverage ratios — lower is generally safer
Okta, Inc. carries a Debt/EBITDA ratio of 68.0x, which is highly leveraged (2195% above the sector average of 3.0x). Net debt stands at $543M ($952M total debt minus $409M cash).
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.15 | 0.15 | 0.22 | 0.43 | 0.34 | 2.84 | 2.72 | 1.70 | — | — | — |
| Debt / EBITDA | 68.00 | 68.00 | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | 0.08 | 0.16 | 0.38 | 0.30 | 2.21 | 1.44 | 0.52 | -0.64 | — | -1.16 |
| Net Debt / EBITDA | 38.79 | 38.79 | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | 0.74 | 1.97 | 33.38 | 20.34 | 13.82 | 21.10 | — | — | — | — |
| Interest Coverage | -14.80 | -14.80 | -64.50 | -73.82 | -8.44 | -2.81 | -6.88 | -7.94 | — | — | — |
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.35x means Okta, Inc. can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has declined from 2.20x to 1.35x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.35 | 1.35 | 1.67 | 2.20 | 2.45 | 1.86 | 2.92 | 1.24 | 1.69 | 0.69 | 1.44 |
| Quick Ratio | 1.35 | 1.35 | 1.67 | 2.20 | 2.45 | 1.86 | 2.92 | 1.24 | 1.69 | 0.69 | 1.44 |
| Cash Ratio | 1.00 | 1.00 | 1.24 | 1.76 | 2.01 | 1.65 | 2.57 | 0.98 | 1.22 | 0.28 | 1.01 |
| Asset Turnover | — | 0.28 | 0.25 | 0.20 | 0.14 | 0.25 | 0.30 | 0.41 | 0.64 | 1.23 | 0.57 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 86.84 | 90.16 | 94.49 | 111.75 | 85.16 | 81.04 | 85.41 | 74.34 | 78.41 | 97.76 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Okta, Inc. does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business. The earnings yield of 0.1% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 0.1% | 0.1% | — | — | — | — | — | — | — | — | — |
| FCF Yield | 100.0% | 4.4% | 3.6% | 0.5% | 0.3% | 0.3% | 0.2% | — | — | — | — |
| Buyback Yield | 0.0% | 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% | 0.0% | — | — |
| Shares Outstanding | — | $175M | $164M | $158M | $148M | $127M | $117M | $108M | $83M | $91M | $91M |
Compare OKTA with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
| OKTAYou | $563M | 1208.3 | 79.0 | 0.8 | 76.3% | -2.8% | 0.5% | -0.8% | 68.0 |
| PANW | $105B | 93.1 | 64.8 | 30.2 | 73.4% | 13.5% | 17.5% | 17.1% | 0.2 |
| CRWD | $94B | -4726.6 | 964.8 | 87.8 | 74.9% | -3.0% | -0.7% | — | 8.4 |
| FTNT | $59B | 32.5 | 25.6 | 26.4 | 80.8% | 30.6% | 135.7% | — | 0.4 |
| ZS | $24B | -544.4 | — | 32.5 | 76.9% | -4.8% | -2.7% | -8.4% | — |
| CYBR | $21B | -139.5 | 908.2 | 79.6 | 74.3% | -7.7% | -6.2% | -3.2% | 52.3 |
| CHKP | $16B | 20.4 | 16.7 | 16.0 | 87.6% | 34.2% | 30.1% | 28.6% | 0.0 |
| GEN | $14B | 21.9 | 10.5 | 11.5 | 80.3% | 40.9% | 29.2% | 12.4% | 4.1 |
| RBRK | $10B | -6.9 | — | 331.8 | 70.0% | -127.9% | — | — | — |
| SAIL | $8B | -7.1 | 182.3 | — | 64.5% | -21.9% | — | — | 21.6 |
| NTCT | $4B | -5.8 | — | 18.9 | 78.3% | -44.7% | -21.3% | -19.7% | — |
| Technology Median | — | 25.2 | 15.7 | 17.3 | 49.8% | -0.9% | 1.1% | 2.9% | 3.0 |
Peers based on L4 peer group classification. Compare multiple stocks →
Includes 30+ ratios · 11 years · Updated daily
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Start ComparisonOkta, Inc.'s current P/E ratio is 1208.3x. This places it at the 50th percentile of its historical range.
Okta, Inc.'s current EV/EBITDA is 79.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA.
Okta, Inc.'s return on equity (ROE) is 0.5%. The historical average is -104.8%.
Based on historical data, Okta, Inc. is trading at a P/E of 1208.3x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Okta, Inc. has 76.3% gross margin and -2.8% operating margin.
Okta, Inc.'s Debt/EBITDA ratio is 68.0x, indicating high leverage. A ratio above 4x may signal elevated financial risk.