Loading…
US software company selling an inbound marketing, sales and customer service CRM platform mainly to small and mid-size businesses.
US software company selling an inbound marketing, sales and customer service CRM platform mainly to small and mid-size businesses.
Customers subscribe to tiered plans, starting with a free CRM and moving up as they add seats and tools such as marketing and sales software, so revenue grows with both new customers and bigger plans. Agencies resell and implement it for smaller clients. About half of revenue comes from outside the US.
Moat: narrow (switching costs, network effects, brand). Integrated marketing/sales/CRM data and content in one platform makes switching disruptive for SMB customers.
Headquarters: Cambridge, Massachusetts, US · Founded: 2006 · Employees: 8,882
Size HubSpot (HUBS) is a United States Information Technology company (Packaged Software) with a market value of $10.0B, the 777th largest of 3,117 United States companies the cockpit tracks. Shares closed at $200.61 on 6 Nov 2026.
Performance Over six months the shares gained 1.7%, against +20.5% for the median peer and -1.1% for the United States market (cap-weighted) — 7th lowest of 21 in its peer set.
Growth Revenue grew 21.1% over the last twelve months (peer median +17.8%); the operating margin is 3.9% (peer median 12.9%).
Valuation It trades at 12.5× forward earnings against a peer median of 33.2× (cheapest of 19).
Price implies For today's price to make sense, revenue must grow about 25% a year for seven years (Req g). Recent delivered growth is +29%, so the hurdle is -4 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 8.7 points above its cost of capital (10.4% WACC).
Backlog Backlog (remaining performance obligations) was $1.80B at 30 Sep 2026, up 29% on a year earlier — 0.5 years of trailing revenue. Backlog detail →
Short interest Short interest is 7.7% of the free float (15 Oct 2026).
Next results Next results expected around 17 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $3.45B | $3.13B | $2.63B | $2.17B | $1.73B |
| Revenue growth | — | +19% | +21% | +25% | — |
| Gross profit | $2.87B | $2.62B | $2.23B | $1.83B | $1.42B |
| EBITDA | $321M | $176M | $50.0M | -$24.0M | -$46.7M |
| Net income | $147M | $45.9M | $4.63M | -$165M | -$113M |
| Free cash flow | $795M | $708M | $561M | $317M | $236M |
| Capital expenditure | $198M | $184M | $129M | $100M | $91.8M |
| Total debt | $237M | $262M | $745M | $788M | $806M |
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 |
|---|---|---|---|---|---|---|
| HubSpot HUBS | $10.0B | +2% | +21% | 4% | 12.5× | 25.1% |
| Salesforce CRM | $176B | +18% | +11% | 22% | 14.6× | 13.7% |
| Adobe ADBE | $93.1B | -5% | +12% | 36% | 8.9× | 0.9% |
| Microsoft MSFT | $3.94T | +28% | +18% | 47% | 25.5× | 17.2% |
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 | HUBS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -13.5% | +2.0% | 4th lowest of 21 |
| 6-month return | +1.7% | +20.5% | 7th lowest of 21 |
| Distance from 52-week high | -51.0% | -20.3% | 3rd lowest of 21 |
| Revenue growth (TTM) | +21.1% | +17.8% | 8th highest of 21 |
| Operating margin | 3.9% | 12.9% | 9th lowest of 21 |
| Forward P/E | 12.5× | 33.2× | cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | 25.1% | 18.2% | 7th most demanding of 20 |
| Growth delivered (Del g) | +28.8% | +23.1% | 5th highest of 20 |
| Hurdle (Req g minus delivered) | -3.7 pp | -7.1 pp | 9th most demanding of 20 |
| ROIC minus cost of capital | +8.7 pp | -5.7 pp | 8th highest of 18 |
| EV / EBITDA | 27.7× | 18.4× | 3rd most expensive of 12 |
| Net debt / EBITDA | -3.4× | -1.2× | 4th least indebted of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| HubSpot HUBS | United States | $10.0B | +2% | +21% | 4% | 12.5× | 25.1% | +28.8% |
| Figma FIG | United States | $10.0B | -9% | +43% | -124% | 54.8× | 22.2% | +43.4% |
| Wisetech Global WTC.AX | Australia | $10.3B | +15% | +71% | 31% | 32.6× | 30.1% | +32.3% |
| Paycom Software PAYC | United States | $10.5B | +73% | +9% | 30% | 15.9× | 3.3% | +19.5% |
| Oracle Financial Services Software OFSS.NS | India | $9.43B | +8% | +28% | 52% | 22.7× | 22.0% | +9.0% |
| Full Truck Alliance Co. Ltd. Sponsored ADR YMM | United States | $9.35B | +4% | +9% | 34% | 12.8× | -10.9% | +36.0% |
| Hinge Health HNGE | United States | $9.34B | +107% | +50% | 19% | 39.6× | 34.1% | +49.9% |
| SailPoint SAIL | United States | $11.0B | +57% | +20% | -19% | 53.5× | 42.0% | +24.7% |
| Elastic ESTC | United States | $9.12B | +65% | +16% | -1% | 24.4× | 13.0% | +23.4% |
| Capcom 9697.T | Japan | $11.0B | +25% | +21% | 41% | 27.0× | -2.2% | +15.4% |
| Paylocity PCTY | United States | $9.03B | +56% | +11% | 22% | 19.0× | 2.3% | +22.8% |
| Procore Technologies PCOR | United States | $11.4B | +41% | +16% | -1% | 33.8× | 19.9% | +27.0% |
| Netskope NTSK | United States | $8.70B | +83% | +30% | -94% | n/a | n/a | n/a |
| 360 Security Technology 601360.SS | China | $8.63B | -26% | +7% | -4% | 172.6× | 55.2% | -5.7% |
| DigitalOcean DOCN | United States | $8.55B | -56% | +28% | 12% | 44.7× | 41.6% | +23.1% |
| CSG Digital Power Grid Research Institute 301638.SZ | China | $8.52B | -37% | +18% | 10% | n/a | 18.0% | +8.2% |
| Chime Financial CHYM | United States | $11.9B | +70% | +18% | -1% | 35.2× | 18.2% | +24.8% |
| Nemetschek NEM.DE | Germany | $8.39B | +10% | +13% | 26% | 29.9× | 11.1% | +14.8% |
| Snap SNAP | United States | $8.39B | -18% | +13% | -5% | 32.3× | 2.7% | +18.8% |
| Xero XRO.AX | Australia | $8.36B | -13% | +27% | 13% | 66.7× | 25.9% | +25.3% |
| Descartes Systems DSG.TO | Canada | $8.10B | +32% | +12% | 33% | 37.9× | 4.4% | +16.8% |
HubSpot reported $1.80B of remaining performance obligations at 30 Sep 2026, up 29% from a year earlier and up 6% from the previous quarter. That is 0.5 years of trailing revenue already under contract. Book-to-bill last quarter: 1.11.