Commvault Systems Inc key statistics and ratios

In fiscal 2026, Commvault Systems Inc had return on equity of 42.5%, an operating margin of 6.3%, debt equal to 11754.2% of equity and a current ratio of 1.95. 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.

Commvault Systems Inc: financial ratios, annual
Fiscal year	2010Mar 2010	2011Mar 2011	2012Mar 2012	2013Mar 2013	2014Mar 2014	2015Mar 2015	2016Mar 2016	2017Mar 2017	2018Mar 2018	2019Mar 2019	2020Mar 2020	2021Mar 2021	2022Mar 2022	2023Mar 2023	2024Mar 2024	2025Mar 2025	2026Mar 2026	LTMSept 2026
Gross margin	86.8%	87.0%	86.9%	86.9%	87.3%	86.5%	86.1%	86.8%	86.0%	83.5%	82.5%	84.9%	85.2%	82.7%	81.9%	82.0%	81.2%	81.3%
Operating margin	11.8%	11.4%	12.1%	16.3%	17.1%	6.4%	0.7%	−0.2%	−0.1%	0.7%	−2.6%	−3.1%	5.4%	−2.0%	9.0%	7.4%	6.3%	7.4%
Net margin	6.8%	6.7%	7.9%	10.7%	10.9%	4.2%	0.3%	−0.1%	−8.9%	0.5%	−0.8%	−4.3%	4.4%	−4.6%	20.1%	7.6%	6.0%	6.6%
Free-cash-flow margin	19.9%	15.4%	23.2%	21.1%	19.5%	19.4%	13.2%	14.5%	11.0%	14.6%	12.7%	16.0%	22.5%	21.3%	23.8%	20.5%	20.0%	20.4%
Return on equity	11.6%	12.1%	15.3%	18.2%	15.7%	5.7%	0.4%	−0.1%	−14.2%	0.9%	−1.4%	−7.7%	10.3%	−16.2%	72.8%	25.2%	42.5%	—
Return on assets	6.4%	6.7%	8.2%	10.3%	9.4%	3.5%	0.2%	−0.1%	−7.5%	0.4%	−0.7%	−3.5%	3.9%	−4.5%	19.6%	7.4%	4.7%	4.4%
Asset turnover	0.95	1.00	1.05	0.96	0.86	0.83	0.83	0.84	0.85	0.87	0.80	0.83	0.89	0.98	0.97	0.97	0.79	0.67
Current ratio	2.29	2.35	2.28	2.62	2.59	2.04	1.95	2.10	2.00	2.01	1.56	1.63	1.23	1.34	1.23	1.14	1.95	1.94
Debt to equity	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	>999%	>999%
Interest cover (operating income ÷ interest)	—	—	—	—	—	—	—	—	—	—	—	—	—	n/m	181.6x	177.3x	19.5x	15.9x
Effective tax rate	42.7%	42.2%	36.1%	35.1%	36.8%	34.0%	56.5%	—	—	65.8%	—	—	22.6%	—	—	6.1%	23.3%	31.7%
R&D as % of revenue	12.3%	11.7%	9.8%	9.6%	9.4%	10.6%	11.7%	12.3%	13.0%	13.0%	16.4%	18.4%	20.0%	18.1%	15.8%	14.7%	13.7%	13.1%
Capital spending as % of revenue	1.2%	1.2%	1.4%	1.6%	0.8%	1.0%	1.1%	1.0%	1.0%	0.9%	0.5%	1.1%	0.5%	0.4%	0.5%	0.4%	0.6%	0.6%
Free cash flow ÷ net income	292.7%	231.1%	294.9%	197.1%	178.3%	460.3%	>999%	—	—	>999%	—	—	515.3%	—	118.2%	267.6%	335.6%	309.3%
Dividends and buybacks ÷ free cash flow	—	64.9%	48.4%	0.0%	43.8%	131.4%	117.1%	53.4%	145.5%	128.1%	90.5%	82.3%	176.2%	90.3%	92.1%	81.0%	188.1%	163.4%

US$ thousands unless shown otherwise. Fiscal quarters.

Commvault Systems Inc: financial ratios, quarterly
Quarter	2025 Q3Dec 2024	2025 Q4Mar 2025	2026 Q1Jun 2025	2026 Q2Sept 2025	2026 Q3Dec 2025	2026 Q4Mar 2026	2027 Q1Jun 2026	2027 Q2Sept 2026
Gross margin	81.5%	82.6%	82.0%	80.1%	81.1%	81.4%	81.7%	81.2%
Operating margin	5.2%	9.7%	8.9%	4.5%	6.3%	5.3%	8.2%	9.7%
Net margin	4.2%	11.3%	8.3%	5.3%	5.7%	4.7%	6.7%	9.3%
Free-cash-flow margin	11.4%	27.7%	10.6%	26.6%	0.6%	42.3%	16.3%	22.7%
Current ratio	1.13	1.14	1.24	2.53	2.34	1.95	2.04	1.94
Debt to equity	—	0.0%	—	417.6%	406.0%	>999%	>999%	>999%
R&D as % of revenue	15.2%	14.3%	14.2%	14.4%	13.5%	12.9%	12.6%	13.5%

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

4 of 5 checks passed · September 30, 2026

What it owns · $1.9bn

Short-term assets $1.2bnLonger-term assets $635m

What it owes, and who funded it · $652m

Short-term liabilities $640mShareholders' equity $13m

Short-term assets cover short-term liabilities $1.2bn of assets due within a year against $640m of liabilities due within a year.
Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
More cash than debt $897m of cash against $883m of debt.
Debt below 40% of shareholders' equity Debt is 7045% of equity.
Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
A year's operating cash flow covers at least 20% of debt $263m of operating cash flow against $883m of debt.
Operating profit covers interest at least five times over Operating income of $93m against $6m of interest.

From Commvault Systems Inc'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 Commvault Systems's competitive advantage looks for rivals to wear away, judged from 10 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 22.0% of total assets over 10 years.
Pricing power 20 / 20

Gross margin has been a median 83.1%, moving by 1.7 percentage points (standard deviation) across 10 years.
Durability 0 / 20

Operating margin has been a median 2.3%; its worst year was -5.5%.
Cash conversion 20 / 20

Free cash flow was positive in 10 of 10 years, at a median 18.9% of revenue.
Discipline 10 / 20

The diluted share count fell 9.0% over five years; stock-based pay has been a median 11.2% 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.

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Figures from Commvault Systems Inc's SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Commvault Systems Inc.