Information Technology · Systems Software · US stock · price as of 22 Oct 2026
Key indicators
Price
$237.94
52-week range
$85.68 – $286.99
Market cap
$248.5B
P/E (trailing)
1,794.8×
EV / EBITDA
–
Free-cash-flow yield
0.6%
Dividend yield
–
Revenue (last 12 months)
$5.4B
Revenue growth (3y a year)
29.0%
Operating margin
−2.2%
Return on invested capital
−11.8%
Net debt / EBITDA
–
Fair value
Fair value (average of valid models)$187.29 middle half of models $176 – $202
Versus priceOvervalued−21% to fair value
P/E multiple
$207.90
P/B multiple
$176.26
P/S multiple
$155.07
EV/revenue multiple
$176.17
10-year DCF, revenue exit
$184.16
5-year DCF, revenue exit
$224.19
Model uncertainty
Low
X-Ray Score
33/ 100 · High confidence · ahead of 9% of sector peers
Valuation9
Growth76
Profitability38
Financial health16
Dividends–
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
CrowdStrike provides cloud-delivered cybersecurity through its Falcon platform. Falcon protects computers and servers from attacks, and its modules also cover cloud workloads, identity protection, threat intelligence, security analytics and managed detection and response. Customers range from small firms to large enterprises and government bodies. The platform runs from a single lightweight software agent and a central cloud, which lets customers add modules as their needs grow.
CrowdStrike earns its revenue mainly from subscriptions to Falcon modules, with professional services as a smaller part. Revenue was $5.4 billion over the last twelve months and has grown at 29.0% a year across the last three years. The operating margin is -2.2%, and the business earns -12% on the capital invested in it, so it is still loss-making on that measure. No dividend is paid.
StocksXray gives CrowdStrike Holdings, Inc. an X-Ray Score of 33 out of 100 (high confidence), ahead of 9% of the S&P 500 stocks in its sector. Its strongest lens is growth (76) and its weakest is valuation (9).
Our fair value (the average of the valid models) is $187.29 (range $176.19 to $201.96). At $237.94 the stock trades 27% above that value, so the label is "Overvalued" with low model uncertainty. Fair value is a range, not a price target.
XStocksXray
CrowdStrike Holdings, Inc. (CRWD)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2022
FY2023
FY2024
FY2025
FY2026
Now
Price
$45.16
$26.48
$73.13
$99.52
$110.35
$237.94
Market cap
$10.3B
$6.2B
$17.8B
$24.4B
$27.7B
$248.5B
P/E
–
–
243.8×
–
–
1,794.8×
EV / revenue
6.2×
1.9×
4.9×
5.3×
4.8×
45.3×
EV / EBITDA
–
–
–
–
–
–
Price / free cash flow
22.2×
8.7×
18.0×
21.6×
21.1×
154.5×
Free-cash-flow yield
4.5%
11.4%
5.6%
4.6%
4.7%
0.6%
Price / book
10.0×
4.2×
7.7×
7.4×
6.2×
48.7×
Dividend yield
–
–
–
–
–
–
Fundamentals checklist ● 3 Good · ● 3 Average · ● 8 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−16.3%Good
Free-cash-flow yield0.6%Bad
Risk models
Altman Z score1.8×Bad
Piotroski F-Score4 of 9Bad
Growth
Free-cash-flow growth (3y)22.9%Average
Revenue growth (3y)29.0%Good
Growth consistency100%Good
Balance sheet
Current ratio1.6×Average
Interest cover-4.5×Bad
Valuation
Fair value vs price0.8×Bad
EBIT / EV yield−0.0%Bad
Profitability
Return on invested capital−11.8%Bad
Operating margin−2.2%Bad
Gross profitability33.8%Average
XStocksXray
CrowdStrike Holdings, Inc. (CRWD)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY22
FY23
FY24
FY25
FY26
LTM
Revenue
1,452
2,241
3,056
3,954
4,812
5,396
Gross profit
1,068
1,640
2,297
2,963
3,593
4,060
Operating income
-143
-190
-19
-116
-293
-119
Net income
-232
-182
73
-13
-161
60
Diluted EPS ($)
-1.03
-0.79
0.30
-0.06
-0.65
0.13
Free cash flow
463
706
990
1,127
1,310
1,609
Gross margin
73.6%
73.2%
75.2%
75.0%
74.7%
75.2%
Operating margin
−9.8%
−8.5%
−0.6%
−2.9%
−6.1%
−2.2%
Net margin
−16.0%
−8.1%
2.4%
−0.3%
−3.3%
1.1%
Balance sheet
FY22
FY23
FY24
FY25
FY26
LTM
Total assets
3,618
5,027
6,647
8,702
11,087
12,025
Cash
1,997
2,455
3,375
4,323
5,230
5,014
Total debt
740
741
742
744
745
746
Equity
1,026
1,464
2,304
3,279
4,428
5,102
Dividend per share ($)
–
–
–
–
–
–
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value is the average of up to 15 valuation models, most of them anchored to the company's own multiples, so it stays near the price and should be read as a range, not a point. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.
