CrowdStrike key statistics and ratios

In fiscal 2026, CrowdStrike had return on equity of -4.2%, an operating margin of -6.1%, debt equal to 16.8% of equity and a current ratio of 1.77. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

CrowdStrike: financial ratios, annual
Fiscal year	2018Jan 2018	2019Jan 2019	2020Jan 2020	2021Jan 2021	2022Jan 2022	2023Jan 2023	2024Jan 2024	2025Jan 2025	2026Jan 2026	LTMJul 2026
Gross margin	54.1%	65.1%	70.6%	73.7%	73.6%	73.2%	75.2%	75.0%	74.7%	75.2%
Operating margin	−110.7%	−54.8%	−30.3%	−10.6%	−9.8%	−8.5%	−0.6%	−2.9%	−6.1%	−2.2%
Net margin	−114.1%	−56.1%	−29.5%	−10.6%	−16.2%	−8.2%	2.4%	−0.4%	−3.4%	1.1%
Free-cash-flow margin	−68.8%	−23.5%	4.1%	34.7%	31.9%	31.5%	32.4%	28.5%	27.2%	29.8%
Return on equity	—	—	−111.5%	−11.5%	−24.8%	−14.7%	3.8%	−0.5%	−4.2%	1.2%
Return on assets	—	−32.3%	−15.4%	−4.5%	−7.4%	−4.2%	1.2%	−0.2%	−1.6%	0.5%
Asset turnover	—	0.58	0.52	0.42	0.46	0.52	0.52	0.52	0.49	0.47
Current ratio	—	1.18	2.38	2.65	1.83	1.73	1.76	1.77	1.77	1.57
Debt to equity	—	—	0.0%	84.8%	72.1%	50.6%	32.2%	22.7%	16.8%	14.6%
Interest cover (operating income ÷ interest)	n/m	n/m	n/m	n/m	n/m	n/m	n/m	n/m	n/m	n/m
Effective tax rate	—	—	—	—	—	—	30.5%	—	—	−1.5%
R&D as % of revenue	49.6%	33.8%	27.0%	24.5%	25.6%	27.1%	25.5%	27.2%	28.8%	28.8%
Capital spending as % of revenue	19.3%	14.4%	16.7%	6.0%	7.7%	10.5%	5.8%	6.4%	6.3%	7.6%
Free cash flow ÷ net income	—	—	—	—	—	—	>999%	—	—	>999%
Dividends and buybacks ÷ free cash flow	—	—	0.0%	0.0%	—	—	—	—	—	—

US$ thousands unless shown otherwise. Fiscal quarters.

CrowdStrike: financial ratios, quarterly
Quarter	2025 Q3Oct 2024	2025 Q4Jan 2025	2026 Q1Apr 2025	2026 Q2Jul 2025	2026 Q3Oct 2025	2026 Q4Jan 2026	2027 Q1Apr 2026	2027 Q2Jul 2026
Gross margin	74.7%	74.2%	73.9%	73.6%	75.1%	76.1%	75.3%	74.6%
Operating margin	−5.5%	−7.7%	−10.8%	−9.0%	−5.6%	1.1%	−2.2%	−2.3%
Net margin	−1.7%	−8.3%	−9.4%	−6.0%	−2.8%	4.5%	2.0%	0.4%
Free-cash-flow margin	24.5%	24.4%	27.0%	25.9%	25.5%	30.3%	35.6%	27.6%
Current ratio	1.86	1.77	1.85	1.88	1.81	1.77	1.53	1.57
Debt to equity	24.3%	22.7%	21.6%	19.8%	18.6%	16.8%	16.1%	14.6%
R&D as % of revenue	27.3%	29.6%	30.0%	29.3%	28.2%	27.3%	29.5%	30.2%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

6 of 7 checks passed · July 31, 2026

What it owns · $12.0bn

Short-term assets $7.0bnLonger-term assets $5.1bn

What it owes, and who funded it · $12.0bn

Short-term liabilities $4.4bnLonger-term liabilities $2.5bnShareholders' equity $5.1bn

Short-term assets cover short-term liabilities $7.0bn of assets due within a year against $4.4bn of liabilities due within a year.
Short-term assets cover long-term liabilities $7.0bn short-term assets against $2.5bn of longer-dated liabilities.
More cash than debt $5.0bn of cash against $746m of debt.
Debt below 40% of shareholders' equity Debt is 15% of equity.
Debt burden no higher than five years ago Debt to equity moved from 72% to 15% over five years.
A year's operating cash flow covers at least 20% of debt $2.0bn of operating cash flow against $746m of debt.
Operating profit covers interest at least five times over Operating income of −$119m against $27m of interest.

From CrowdStrike's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

64 /100

Moderate moat

How hard CrowdStrike's competitive advantage looks for rivals to wear away, judged from 8 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

Returns on capital 20 / 20

Cash operating profit has been a median 18.9% of total assets over 7 years.
Pricing power 20 / 20

Gross margin has been a median 74.0%, moving by 2.0 percentage points (standard deviation) across 8 years.
Durability 10 / 20

Operating margin has been a median -7.9%; its worst year was -42.7%.
Cash conversion 19 / 20

Free cash flow was positive in 7 of 8 years, at a median 29.0% of revenue.
Discipline 0 / 20

The diluted share count rose 129.5% over five years; stock-based pay has been a median 21.6% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (69 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

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Figures from CrowdStrike's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to CrowdStrike.