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Cloud-based cybersecurity company protecting laptops, servers and cloud workloads from hacking and malware.
Cloud-based cybersecurity company protecting laptops, servers and cloud workloads from hacking and malware.
Sells annual subscriptions priced per protected device or workload, then grows by getting existing customers to add more modules that run on the same small software agent. It sells directly and also through channel partners. Founded in 2011, it listed in 2019.
Moat: narrow (switching costs, data, network effects). A single lightweight agent collecting shared threat data across customers creates real switching costs.
Headquarters: Austin, Texas, US · Founded: 2011 · Employees: 10,698
Size CrowdStrike (CRWD) is a United States Information Technology company (Packaged Software) with a market value of $222B, the 50th largest of 3,117 United States companies the cockpit tracks. Shares closed at $216.90 on 6 Nov 2026.
Performance Over six months the shares gained 64.4%, against -4.2% for the median peer and -1.1% for the United States market (cap-weighted) — 2nd highest of 15 in its peer set.
Growth Revenue grew 24.3% over the last twelve months (peer median +23.2%); the operating margin is -1.2% (peer median 25.2%).
Valuation It trades at 153.6× forward earnings against a peer median of 24.0× (most expensive of 15).
Price implies For today's price to make sense, revenue must grow about 52% a year for seven years (Req g). Recent delivered growth is +41%, so the hurdle is +12 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 16.6 points below its cost of capital (10.8% WACC).
Backlog Backlog (remaining performance obligations) was $10.7B at 31 Jul 2026, up 49% on a year earlier — 2.0 years of trailing revenue. Backlog detail →
Credit CrowdStrike has 1 bond outstanding ($750M), rated BBB- by the agencies and trading like BBB- at a weighted spread of 94 bp.
Short interest Short interest is 2.4% of the free float (15 Oct 2026).
Next results Next results expected around 1 Dec 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $5.40B | $4.81B | $3.95B | $3.06B | $2.24B |
| Revenue growth | — | +22% | +29% | +36% | — |
| Gross profit | $4.05B | $3.60B | $2.96B | $2.30B | $1.64B |
| EBITDA | $266M | $158M | $158M | $147M | -$96.3M |
| Net income | $37.8M | -$163M | -$15.2M | $89.3M | -$183M |
| Free cash flow | $1.53B | $1.24B | $1.07B | $940M | $677M |
| Capital expenditure | $494M | $371M | $314M | $237M | $266M |
| Total debt | $820M | $820M | $789M | $793M | $784M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| CrowdStrike CRWD | $222B | +64% | +24% | -1% | 153.6× | 52.4% |
| Microsoft MSFT | $3.94T | +28% | +18% | 47% | 25.5× | 17.2% |
| SentinelOne S | $7.58B | +31% | +21% | -26% | 54.7× | 53.7% |
| Palo Alto Networks PANW | $257B | +51% | +24% | 5% | 75.0× | n/a |
| Fortinet FTNT | $87.3B | +4% | +20% | 33% | 31.6× | 22.4% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | CRWD | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -17.5% | -8.9% | 6th lowest of 15 |
| 6-month return | +64.4% | -4.2% | 2nd highest of 15 |
| Distance from 52-week high | -24.4% | -31.1% | 5th highest of 15 |
| Revenue growth (TTM) | +24.3% | +23.2% | 8th highest of 15 |
| Operating margin | -1.2% | 25.2% | 2nd lowest of 15 |
| Forward P/E | 153.6× | 24.0× | most expensive of 15 |
| Growth the price implies (Req g, 7 yrs) | 52.4% | 29.5% | 3rd most demanding of 12 |
| Growth delivered (Del g) | +40.6% | +14.6% | 2nd highest of 12 |
| Hurdle (Req g minus delivered) | +11.7 pp | +5.5 pp | 5th most demanding of 12 |
| ROIC minus cost of capital | -16.6 pp | -0.5 pp | 2nd lowest of 14 |
| Net debt / EBITDA | -16.1× | 0.2× | least indebted of 14 |
| Bond spread | 94 bp | 93 bp | 6th tightest of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| CrowdStrike CRWD | United States | $222B | +64% | +24% | -1% | 153.6× | 52.4% | +40.6% |
| Palo Alto Networks PANW | United States | $257B | +51% | +24% | 5% | 75.0× | n/a | n/a |
| Sap SAP.DE | Germany | $276B | +49% | +8% | 29% | 29.8× | 14.9% | +6.1% |
| Salesforce CRM | United States | $176B | +18% | +11% | 22% | 14.6× | 13.7% | +14.3% |
| Oracle ORCL | United States | $351B | -41% | +22% | 34% | 13.6× | n/a | n/a |
| AppLovin APP | United States | $131B | -16% | +29% | 78% | 20.0× | 28.2% | +30.4% |
| Palantir Technologies PLTR | United States | $386B | +16% | +87% | 46% | 69.8× | 56.6% | +32.6% |
| ServiceNow NOW | United States | $106B | +12% | +22% | 13% | 22.4× | 29.5% | +24.1% |
| SNOW SNOW | United States | $97.3B | +81% | +32% | -22% | 108.4× | 41.3% | +51.2% |
| Adobe ADBE | United States | $93.1B | -5% | +12% | 36% | 8.9× | 0.9% | +13.1% |
| Intuit INTU | United States | $91.3B | -14% | +14% | 29% | 14.8× | 3.1% | +17.4% |
| Cadence Design Systems CDNS | United States | $87.8B | -12% | +18% | 30% | 34.0× | 29.9% | +14.6% |
| Synopsys SNPS | United States | $86.3B | -13% | +46% | 12% | 25.6× | 39.2% | +13.9% |
| Prosus PRX.AS | Netherlands | $83.9B | -3% | +45% | 3% | 10.1× | 55.8% | +13.8% |
| Datadog DDOG | United States | $64.3B | -11% | +33% | 2% | 61.0× | n/a | n/a |
CrowdStrike has 1 bond outstanding with $750M face value. The agencies rate it BBB-; its bonds trade like BBB-. Weighted yield 5.43%, a spread of 94 bp over government bonds.
CrowdStrike reported $10.7B of remaining performance obligations at 31 Jul 2026, up 49% from a year earlier and up 22% from the previous quarter. That is 2.0 years of trailing revenue already under contract. Book-to-bill last quarter: 2.29.