A Business at a Glance
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CrowdStrike Holdings, Inc.
CRWD
$45.8B
Mkt Cap
$183.28
-0.08%
CrowdStrike Holdings, Inc. (CRWD) has a 5-year average return on invested capital (ROIC) of -4.5%. This is below average and may indicate limited pricing power.
CrowdStrike Holdings, Inc. (CRWD) has a market capitalization of $45.8B. It is classified as a large-cap stock.
CrowdStrike Holdings, Inc. (CRWD) does not currently pay a regular dividend.
CrowdStrike Holdings, Inc. (CRWD) operates in the Services-Prepackaged Software industry, within the Technology sector.
CrowdStrike Holdings, Inc. (CRWD) reported annual revenue of $4.8 billion in its most recent fiscal year, based on SEC EDGAR filings.
CrowdStrike Holdings, Inc. (CRWD) has a net profit margin of -3.4%. The company is currently unprofitable.
CrowdStrike Holdings, Inc. (CRWD) generated $1.3 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
CrowdStrike is an AI-native cloud-native cybersecurity platform company founded in 2011 that delivers the Falcon platform as a SaaS subscription service across 33 cloud modules spanning endpoint and cloud workload security, managed security services, vulnerability management, IT operations, identity protection, next-generation SIEM and log management, threat intelligence, data protection, SaaS security posture management, SOAR, and AI detection and response. The company's business model centers on a single lightweight sensor deployed across endpoints and cloud workloads that collects and integrates data from enterprises, which is ingested once and reused across multiple security functions to power real-time detection, investigation, and response; this architecture enables the Falcon platform to serve as a consolidation vehicle replacing legacy point products and fragmented platforms. CrowdStrike's competitive moat derives from its cloud-scale AI capabilities powered by its proprietary Security Cloud, which correlates trillions of cybersecurity events weekly with threat intelligence and enterprise data through its Threat Graph, Intel Graph, and Asset Graph technologies, creating a network effect where increased data volume improves AI model efficacy across the entire customer base. The company serves large enterprises and organizations across technology, transportation, healthcare, financial services, government, utility, retail, and public infrastructure sectors globally, with particular strength in the U.S., Japan, Europe, the Middle East, and Africa, and has achieved significant adoption through its Falcon Flex subscription model which enables customers to consolidate security needs and lower total cost of ownership. The platform's unit economics are characterized by high gross margins driven by cloud optimization, strong retention rates, and expanding module adoption, with customers increasingly adopting multiple modules and consolidating legacy security stacks onto the unified Falcon platform.
【AI-driven structural demand acceleration】 Management sees AI adoption as a fundamental structural tailwind driving sustained demand for cybersecurity, with worldwide AI spending forecasted to exceed $2.5 trillion while only a low single-digit percentage of organizations have advanced AI security strategies, creating what management characterizes as the widest asymmetry in security since the cloud transition. The company is raising full-year net new ARR guidance by more than 500 basis points, reflecting confidence in accelerating growth driven by platform consolidation momentum, Falcon Flex adoption reaching $1.9 billion in ending ARR with 99% year-over-year growth, and record pipeline strength across competitive displacements and next-generation SIEM migrations. Management expects continued operating leverage and profitability expansion, with free cash flow margins expected to remain at least 30% for the full fiscal year despite increased investment in cloud infrastructure and acquisition integration, while the company pursues strategic acquisitions to natively integrate capabilities into the Falcon platform before scaling go-to-market. The company remains committed to achieving previously stated growth milestones of $10 billion and $20 billion in ending ARR while maintaining its target profitability model.
| Metric | Target | Period |
|---|---|---|
| Net new ARR | $1.279 billion-$1.303 billion | FY 2027 |
| Total revenue | $5.915 billion-$5.959 billion | FY 2027 |
| Non-GAAP operating income | $1.452 billion-$1.480 billion | FY 2027 |
| Non-GAAP net income per share | $4.88-$4.96 | FY 2027 |
| Free cash flow margin | at least 30% | FY 2027 |
| Q2 FY 2027 Annual recurring revenue | $5.793 billion-$5.795 billion | Q2 FY 2027 |
| Q2 FY 2027 Total revenue | $1.436 billion-$1.442 billion | Q2 FY 2027 |
Net new ARR (FY 2027): “For the full FY 2027, we expect annual recurring revenue to be in the range of $6.532 billion-$6.556 billion, reflecting a year-over-year growth rate of 24%-25% and translating to net new ARR of $1.279 billion-$1.303 billion, reflecting a year-over-year growth rate of 27%-29%.”
Total revenue (FY 2027): “We expect total revenue to be in the range of $5.915 billion-$5.959 billion, reflecting a growth rate of 23%-24% over the prior fiscal year.”
Non-GAAP operating income (FY 2027): “Non-GAAP income from operations is expected to be between $1.452 and $1.480 billion.”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2027 Earnings Call, Q3 FY2027 Earnings Call, Q2 FY2027 Earnings Call, Q1 FY2027 Earnings Call
| Metric | TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|---|---|
| Revenue | 4.8B | 4.8B | 4.0B | 3.1B | 2.2B | 1.5B |
| Net Income | -163M | -163M | -15M | 89M | -183M | -235M |
| EPS | $-0.65 | $-0.65 | $-0.06 | $0.37 | $-0.79 | $-1.03 |
| Free Cash Flow | 1.3B | 1.3B | 1.1B | 990M | 706M | 463M |
| ROIC | -1263.2% | -3.5% | -0.4% | 2.9% | -8.3% | -13.3% |
| Gross Margin | 74.7% | 74.7% | 75.0% | 75.3% | 73.2% | 73.6% |
| Debt/Equity | 0.19 | 0.19 | 0.24 | 0.34 | 0.54 | 0.76 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | -293M | -293M | -116M | -120M | -190M | -143M |
| Operating Margin | -6.1% | -6.1% | -2.9% | -3.9% | -8.5% | -9.8% |
| ROE | -3.7% | -4.2% | -0.5% | 3.9% | -12.5% | -22.9% |
| Shares Outstanding | 250M | 250M | 254M | 241M | 232M | 228M |
| Metric | 2018 | 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||||
| Revenue | 119M | 250M | 481M | 874M | 1.5B | 2.2B | 3.1B | 4.0B | 4.8B | 4.8B |
| Gross Margin | 54.1% | 65.1% | 70.6% | 73.7% | 73.6% | 73.2% | 75.3% | 75.0% | 74.7% | 74.7% |
| R&D | 59M | 85M | 130M | 215M | 371M | 608M | 768M | 1.1B | 1.4B | 1.4B |
| SG&A | 33M | 42M | 89M | 121M | 223M | 317M | 393M | 481M | 670M | 670M |
| EBIT | -131M | -137M | -146M | -93M | -143M | -190M | -120M | -116M | -293M | -293M |
| Op. Margin | -110.7% | -54.8% | -30.3% | -10.6% | -9.8% | -8.5% | -3.9% | -2.9% | -6.1% | -6.1% |
| Net Income | -141M | -140M | -142M | -93M | -235M | -183M | 89M | -15M | -163M | -163M |
| Net Margin | -119.0% | -56.1% | -29.5% | -10.6% | -16.2% | -8.2% | 2.9% | -0.4% | -3.4% | -3.4% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 45M | 45M |
| Returns on Capital | ||||||||||
| ROIC | N/A | -31.6% | -19.1% | -5.8% | -13.3% | -8.3% | 2.9% | -0.4% | -3.5% | N/M |
| ROE | N/A | 28.7% | -19.1% | -10.6% | -22.9% | -12.5% | 3.9% | -0.5% | -4.2% | -3.7% |
| ROA | N/A | -32.3% | -10.1% | -3.4% | -6.5% | -3.6% | 1.3% | -0.2% | -1.6% | -1.5% |
| Cash Flow | ||||||||||
| Op. Cash Flow | -59M | -23M | 100M | 357M | 575M | 941M | 1.2B | 1.4B | 1.6B | 1.6B |
| Free Cash Flow | -82M | -59M | 20M | 304M | 463M | 706M | 990M | 1.1B | 1.3B | 1.3B |
| Owner Earnings | -78M | -58M | -3.0M | 168M | 209M | 337M | 408M | 332M | 265M | 265M |
| CapEx | 23M | 36M | 80M | 53M | 112M | 235M | 177M | 255M | 302M | 302M |
| Maint. CapEx | 7.1M | 15M | 23M | 39M | 56M | 77M | 127M | 188M | 250M | 250M |
| Growth CapEx | 16M | 21M | 57M | 14M | 56M | 158M | 50M | 67M | 52M | 52M |
| D&A | 7.1M | 15M | 23M | 39M | 56M | 77M | 127M | 188M | 250M | 250M |
| CapEx/OCF | N/A | N/A | 80.2% | 14.8% | 19.5% | 25.0% | 15.1% | 18.4% | N/A | 18.7% |
| Capital Allocation | ||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 2.3M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | 0.0% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% | 0.0% |
| Stock-Based Comp | 12M | 21M | 80M | 150M | 310M | 527M | 632M | 861M | 1.1B | 1.1B |
| Debt Repayment | 19M | 6.2M | 0 | 3.3M | 219K | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | ||||||||||
| Net Debt | N/A | N/A | -912M | -1.1B | -1.5B | -1.9B | -2.7B | -7.9B | -9.6B | -4.4B |
| Cash & Equiv. | 63M | 88M | 265M | 1.9B | 2.0B | 2.5B | 3.4B | 4.3B | 5.2B | 5.2B |
| Long-Term Debt | N/A | N/A | 0 | 738M | 740M | 741M | 742M | 744M | 745M | 745M |
| Debt/Equity | N/A | -0.74 | 0.00 | 0.89 | 0.76 | 0.54 | 0.34 | 0.24 | 0.19 | 0.19 |
| Interest Coverage | -79.8 | -319.8 | -330.5 | -59.4 | -5.6 | -7.5 | -4.7 | -4.4 | -10.5 | -10.5 |
| Equity | -369M | -488M | 742M | 871M | 1.0B | 1.5B | 2.3B | 3.3B | 4.4B | 4.4B |
| Total Assets | N/A | 433M | 1.4B | 2.7B | 3.6B | 5.0B | 6.6B | 8.7B | 11.1B | 11.1B |
| Total Liabilities | N/A | 363M | 662M | 1.9B | 2.6B | 3.5B | 4.3B | 5.4B | 6.6B | 6.6B |
| Intangibles | N/A | 1.0M | 527K | 16M | 97M | 87M | 115M | 133M | 137M | 137M |
| Retained Earnings | N/A | -519M | -637M | -730M | -965M | -1.1B | -1.1B | -1.1B | -1.3B | -1.3B |
| Working Capital | N/A | 50M | 679M | 1.4B | 1.2B | 1.5B | 2.1B | 2.7B | 3.2B | 3.2B |
| Current Assets | N/A | 331M | 1.2B | 2.3B | 2.6B | 3.6B | 4.8B | 6.1B | 7.4B | 7.4B |
| Current Liabilities | 872K | 281M | 493M | 864M | 1.4B | 2.1B | 2.7B | 3.5B | 4.2B | 4.2B |
| Per Share Data | ||||||||||
| EPS | -3.38 | -3.12 | -0.96 | -0.43 | -1.03 | -0.79 | 0.37 | -0.06 | -0.65 | -0.65 |
| Owner EPS | -1.87 | -0.27 | -0.02 | 0.78 | 0.92 | 1.45 | 1.69 | 1.31 | 1.06 | 1.06 |
| Book Value | -8.84 | -2.29 | 5.02 | 4.04 | 4.50 | 6.31 | 9.54 | 12.91 | 17.71 | 17.71 |
| Cash Flow/Share | -1.41 | -0.11 | 0.68 | 1.66 | 2.52 | 4.06 | 4.83 | 5.44 | 6.45 | 0.35 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 41.8M | 213.2M | 147.7M | 215.4M | 228.0M | 232.0M | 241.4M | 254.0M | 250.0M | 250.0M |
| Valuation | ||||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | N/A | 784.6 | N/A | N/A | -282.0 |
| P/FCF | N/A | N/A | 441.8 | 150.7 | 83.2 | 34.3 | 70.8 | 92.1 | N/A | 35.0 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | 457.2 | N/A | N/A | N/A |
| Price/Book | N/A | N/A | 11.8 | 52.6 | 37.5 | 16.5 | 30.4 | 30.0 | N/A | 10.3 |
| Price/Sales | N/A | N/A | 20.0 | 28.1 | 36.0 | 17.2 | 13.3 | 19.5 | N/A | 9.5 |
| FCF Yield | N/A | N/A | 0.2% | 0.7% | 1.2% | 2.9% | 1.4% | 1.1% | N/A | 2.9% |
| Market Cap | 0 | N/A | 8.7B | 45.8B | 38.5B | 24.2B | 70.1B | 98.4B | 0 | 45.8B |
| Avg. Price | 0.00 | N/A | 65.23 | 114.13 | 229.22 | 166.22 | 167.88 | 319.91 | 0.00 | 183.28 |
| Year-End Price | 0.00 | N/A | 59.07 | 212.49 | 168.90 | 104.35 | 290.31 | 408.68 | 0.00 | 183.28 |
CrowdStrike Holdings, Inc. passes 4 of 9 quality checks, suggesting mixed fundamentals.
On a free-cash-flow basis, the stock trades at 39.4x vs a median of 77.0x. The company's 5-year average gross margin is 74.3%. At current prices, the estimated annualized return to fair value is +52.7%.
CrowdStrike Holdings, Inc. (CRWD) has a debt-to-equity ratio of 0.19. This indicates a conservatively financed balance sheet.
CrowdStrike Holdings, Inc. (CRWD) reported earnings per share (EPS) of $-0.65 in its most recent fiscal year.
CrowdStrike Holdings, Inc. (CRWD) has a return on equity (ROE) of -4.2%. A negative ROE may indicate losses or negative equity.
CrowdStrike Holdings, Inc. (CRWD) has a 5-year average gross margin of 74.3%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 9 years of financial data for CrowdStrike Holdings, Inc. (CRWD), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
CrowdStrike Holdings, Inc. (CRWD) has a book value per share of $17.71, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management sees AI adoption as a fundamental structural tailwind driving sustained demand for cybersecurity, with worldwide AI spending forecasted to exceed $2.5 trillion while only a low single-digit percentage of organizations have advanced AI security strategies, creating what management characterizes as the widest asymmetry in security since the cloud transition. The company is raising full-year net new ARR guidance by more than 500 basis points, reflecting confidence in accelerating growth driven by platform consolidation momentum, Falcon Flex adoption reaching $1.9 billion in ending ARR with 99% year-over-year growth, and record pipeline strength across competitive displacements and next-generation SIEM migrations. Management expects continued operating leverage and profitability expansion, with free cash flow margins expected to remain at least 30% for the full fiscal year despite increased investment in cloud infrastructure and acquisition integration, while the company pursues strategic acquisitions to natively integrate capabilities into the Falcon platform before scaling go-to-market. The company remains committed to achieving previously stated growth milestones of $10 billion and $20 billion in ending ARR while maintaining its target profitability model.
Based on recent SEC filings and earnings calls, CrowdStrike Holdings, Inc. (CRWD) has provided the following forward guidance: Net new ARR: $1.279 billion-$1.303 billion (FY 2027); Total revenue: $5.915 billion-$5.959 billion (FY 2027); Non-GAAP operating income: $1.452 billion-$1.480 billion (FY 2027); Non-GAAP net income per share: $4.88-$4.96 (FY 2027); Free cash flow margin: at least 30% (FY 2027), plus 2 additional metrics.
Non-GAAP net income per share (FY 2027): “Utilizing a 21% tax rate and approximately 259 million weighted average shares on a diluted basis, we expect non-GAAP net income per share attributable to CrowdStrike to be in the range of $4.88-$4.96.”
Free cash flow margin (FY 2027): “continue to expect at least 30% for the full fiscal year on our increased revenue guidance.”
Q2 FY 2027 Annual recurring revenue (Q2 FY 2027): “For the second quarter of FY 2027, we expect annual recurring revenue to be in the range of $5.793 billion-$5.795 billion, reflecting a year-over-year growth rate of 24%.”
Q2 FY 2027 Total revenue (Q2 FY 2027): “We expect total revenue to be in the range of $1.436 billion-$1.442 billion, reflecting a year-over-year growth rate of 23%.”