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Elastic N.V. (ESTC) stock

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NYSE: ESTC NYSE Application Software Next results ~November 19, 2026

C+ Fundamentals grade

Elastic N.V. is a US-listed company in the application software industry. Its financial year ends in April.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: after-tax interest is 267% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy.

Price vs value

Under review: after-tax interest is 267% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy. We'll show the comparison once resolved.

Elastic N.V. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders1 buying, 8 selling3 purchases and 63 sales by directors and officers, last 12 monthsInsider trades
  • Funds190 adding, 205 cuttingOf 57 active managers that changed their stake, 25 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Elastic files

Where Elastic N.v. stands after its latest 10-Q

Revenue for the twelve months to July 2026 was $1.80bn, up 16.2% on a year earlier, slower than 17.3% a quarter earlier. Free-cash-flow margin held at 19.4%. The diluted share count is up 2.2% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 5 of our 7 financial-health checks.

Our model value for Elastic is under review, so past values are not shown until it is resolved.

Source: 10-Q filed August 28, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 19, 2026 (estimated)

Elastic N.V.'s trailing-twelve-month revenue grew 16.2% year on year, with a free-cash-flow margin of 19.4%. Where it stands out: net margin of 20.8% ranks 27 of 185 application software companies we cover.

Our discounted-cash-flow model values the business at ~$55 per share in the base case (~$43–$70 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Net margin expanding: TTM net margin reached 20.8%, up 26.2pp year over year.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 16.2% over the last 12 months, against a median of 12.0% for application software companies we cover.
  • Net cash. Cash exceeds long-term debt by $0.3bn.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Loss-making. Operating margin is -2.6%: costs exceed revenue.
  • Heavy stock-based pay. Stock pay equals 16.8% of revenue, against a median of 9.3% for application software companies we cover: a real cost that cash-flow figures leave out.
  • Share dilution. Diluted shares rose 2.2% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 58% and a beta of 1.2 against the S&P 500.

Latest results: FY2027 Q1

Filed August 28, 2026
Earnings per share
$0.70 against an average estimate of $0.58: beat by 19.9%
Revenue
$478m, up 15.1% on a year earlier
Share reaction
+26.1% in the first session after the results on August 27, 2026, against +0.4% for the S&P 500
Guidance given
total revenue $486m to $487m (second quarter of fiscal 2027 (ending October 31, 2026)); sales-led subscription revenue $407.5m to $408.5m (second quarter of fiscal 2027 (ending October 31, 2026))
Next report
November 19, 2026; average EPS estimate $0.81

Elastic's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-6.1%
  • 1 week-14.1%
  • 1 month-2.8%
  • This year+21.1%
  • 1 year+2.4%
  • 5 years-46.1%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$1.8B
Operating margin
-2.6%
Net margin
20.8%
EPS (TTM, diluted)
$3.51

Growth

Revenue growth
+16.2%
Change in growth rate
−1.1 pts
Share count change
+2.2%

Cash

Free cash flow (TTM)
$349M
FCF margin
19.4%
Stock pay % of revenue
16.8%

Earnings

Last results
August 27, 2026
Next results (est.)
November 19, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Partnership
  2. Shareholder vote
  3. Insider trade
  4. Announcement
  5. Announcement
  6. Announcement
  7. Insider trade
  8. Announcement
  9. Announcement
  10. Insider trade
  11. Announcement
  12. Insider trade
  13. Insider trade
  14. Insider trade
  15. Announcement
  16. Leadership
  17. Results
  18. Guidance

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Elastic N.V. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: held for review: after-tax interest is 267% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Elastic N.V. as an operating company, with every model that fits that kind of business. Cost of equity 10.7%: the 10-year Treasury yield (4.9%) plus a beta of 1.27 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. — Does not apply: This model is withheld pending its input or assumption review.
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$55 ~$45–$91 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: This model is withheld pending its input or assumption review.
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: This model is withheld pending its input or assumption review.
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Elastic N.V. with Application Software in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20192020202120222023202420252026Now
Share price$85.55$64.14$120.62$76.14$57.25$102.22$86.20$46.43$91.34
Market value$4.7bn$5.1bn$10.5bn$7.0bn$5.5bn$10.6bn$8.9bn$5.0bn$9.8bn
+ Net debt (− = net cash)−$298m−$297m−$401m−$286m−$69m$35m−$153m−$194m−$305m
Enterprise value$4.4bn$4.8bn$10.1bn$6.8bn$5.4bn$10.7bn$8.8bn$4.8bn$9.5bn
Multiples
Price / sales 17.3x11.8x17.3x8.2x5.1x8.4x6.0x2.9x5.4x
Price / earnings —————172.2x—13.5x26.0x
Price / free cash flow ——n/mn/m166.2x73.1x34.1x15.5x28.0x
EV / EBITDA —————————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

40 /100

Weak moat

How hard Elastic's competitive advantage looks for rivals to wear away, judged from 9 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 16 / 20

    Cash operating profit has been a median 12.6% of total assets over 8 years.

  • Pricing power 20 / 20

    Gross margin has been a median 73.6%, moving by 1.4 percentage points (standard deviation) across 9 years.

  • Durability 10 / 20

    Operating margin has been a median -19.5%; its worst year was -41.1%.

  • Cash conversion 8 / 20

    Free cash flow was positive in 5 of 8 years, at a median 4.4% of revenue.

  • Discipline 0 / 20

    The diluted share count rose 20.2% over five years; stock-based pay has been a median 15.4% of revenue.

AI disruption exposure: High. In this industry, the core product is information work that AI systems increasingly perform. The score above includes a 15-point deduction for that exposure (55 before it).

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

Forecasts and guidance

Next results: November 19, 2026, after the close. Analysts expect revenue of $487m and EPS of $0.81 (range $0.80 to $0.84) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $3.36 +31% $2.0bn +15%
Next $3.96 +18% $2.3bn +15%

Next year's EPS estimate has moved +2.1% in 90 days, across 29 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +3.6% on 90 days ago. In the last 30 days, 29 analysts raised Elastic N.V.'s forecast and 0 cut it.

Consensus EPS forecast Elastic N.V., last 90 days
$3.20 $3.40 $3.60 $3.80 $4.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $3.24 Current fiscal year, 60 days ago: $3.36 Current fiscal year, 30 days ago: $3.36 Current fiscal year, 7 days ago: $3.36 Current fiscal year, Now: $3.36 $3.36 Next fiscal year, 90 days ago: $3.88 Next fiscal year, 60 days ago: $3.88 Next fiscal year, 30 days ago: $3.96 Next fiscal year, 7 days ago: $3.96 Next fiscal year, Now: $3.96 $3.96

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $3.24$3.88
60 days ago $3.36$3.88
30 days ago $3.36$3.96
7 days ago $3.36$3.96
Now $3.36$3.96

Earnings against estimates

Quarter toEstimateActualSurprise
Jul 2026 $0.58 $0.70 +19.9%
Apr 2026 $0.56 $0.61 +8.4%
Jan 2026 $0.65 $0.73 +13.0%
Oct 2025 $0.58 $0.64 +11.1%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 27, 2026
  • Total revenue fiscal 2027 (ending April 30, 2027) $1.998bn to $2.01bn
    “Total revenue is expected to be between $1.998 billion and $2.010 billion, representing 15.2% year-over-year growth at the midpoint (15.3% year-over-year constant currency growth at the midpoint)” source
  • Total revenue second quarter of fiscal 2027 (ending October 31, 2026) $486m to $487m
    “Total revenue is expected to be between $486 million and $487 million, representing 14.9% year-over-year growth at the midpoint (15.0% year-over-year constant currency growth at the midpoint)” source
  • Non-GAAP diluted earnings per share fiscal 2027 (ending April 30, 2027) $3.29 to $3.37 Non-GAAP
    “Non-GAAP diluted earnings per share is expected to be between $3.29 and $3.37, assuming between 108.5 million and 109.5 million diluted weighted average ordinary shares outstanding” source
  • Non-GAAP diluted earnings per share second quarter of fiscal 2027 (ending October 31, 2026) $0.80 to $0.82 Non-GAAP
    “Non-GAAP diluted earnings per share is expected to be between $0.80 and $0.82, assuming between 108.0 million and 109.0 million diluted weighted average ordinary shares outstanding” source
  • Non-GAAP operating margin fiscal 2027 (ending April 30, 2027) about 19.4% Non-GAAP
    “Non-GAAP operating margin is expected to be approximately 19.4%” source
  • Non-GAAP operating margin second quarter of fiscal 2027 (ending October 31, 2026) about 19% Non-GAAP
    “Non-GAAP operating margin is expected to be approximately 19.0%” source
Show 3 more items
  • Sales-led subscription revenue fiscal 2027 (ending April 30, 2027) $1.682bn to $1.694bn
    “Sales-led subscription revenue is expected to be between $1.682 billion and $1.694 billion, representing 17.4% year-over-year growth at the midpoint (17.5% year-over-year constant currency growth at the midpoint)” source
  • Adjusted free cash flow margin fiscal 2027 (ending April 30, 2027) about 21.5% Non-GAAP
    “Adjusted free cash flow margin is expected to be approximately 21.5%, excluding any acquisitions or other one-time charges” source
  • Sales-led subscription revenue second quarter of fiscal 2027 (ending October 31, 2026) $408m to $409m
    “Sales-led subscription revenue is expected to be between $407.5 million and $408.5 million, representing 16.9% year-over-year growth at the midpoint (17.1% year-over-year constant currency growth at the midpoint)” source

How earlier guidance turned out

  • Total revenue, first quarter of fiscal 2027 guided $469m to $470m Above range: $478m

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

30 analysts, Oct 2026
Buy1963%
Hold1137%
Sell00%

Monthly trend

  1. Oct 20264151130
  2. Sep 20264141230
  3. Aug 20264141231
  4. Jul 20264141231

Counts of recommendations published by analysts covering Elastic N.V., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
4.5%
of tradable shares
Days to cover
2.26
at average volume
Short interest, 1 month
−2%
to October 15, 2026
Held by institutions
90%
of shares
Held by insiders
11.7%
of shares
Employees
3,834
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +2.4%

$89.22 on October 31, 2025 to $91.34

ThenNowEffect
Revenue (last 12 months) $1.6bn $1.8bn +16.2%
P/S multiple 6.0x 5.4x −9.9%
Share count 105m 107m −2.2%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

Last 3 years +26.3%

$72.33 on November 3, 2023 to $91.34

ThenNowEffect
Revenue (last 12 months) $1.1bn $1.8bn +62.0%
P/S multiple 6.3x 5.4x −13.7%
Share count 97m 107m −9.7%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
ESTC−16%−58%+119%−12%−24%+21%
Industry peers (median)−7%−50%+19%+2%−20%−14%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
ESTC50%33%58%67%50%36%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
ESTC−41%−60%−21%−48%−41%−45%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 5, 2018: 77% from November 16, 2021 to April 10, 2026. Getting back needed a 331% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$43.30 – $106.58
From 52-week high
−14.3%
vs 50-day average
−1.1%
vs 200-day average
+35.7%
Volatility (1 year)
58%
Beta vs S&P 500
1.24

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
7 up, 5 down
typical move ±16.8%
After a week
6 up, 6 down
typical move ±17.6%
After a month
6 up, 6 down
typical move ±15.0%
Results releasedNext dayS&P 500 next day5 days21 days
August 27, 2026 +26.1% +0.4% +21.3% +11.0%
May 28, 2026 +20.0% +0.8% +20.8% +5.7%
February 26, 2026 −10.2% −1.0% −8.6% −16.3%
November 20, 2025 −20.7% −0.5% −20.1% −11.2%
August 28, 2025 +2.1% −0.2% +4.1% +4.5%
May 29, 2025 −12.4% +0.3% −6.6% −8.7%
February 27, 2025 +12.4% −0.1% −4.0% −11.4%
November 21, 2024 +22.0% +0.8% +23.6% +15.9%
August 29, 2024 −26.0% +1.0% −31.9% −25.5%
May 30, 2024 +1.7% +0.2% +10.6% +12.9%
February 29, 2024 −9.8% +1.3% −17.7% −22.5%
November 30, 2023 +38.4% +1.0% +42.1% +33.8%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Elastic N.V. in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Elastic N.V.
$1B $1.2B $1.4B $1.6B $1.8B $2B FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue (TTM), FY24 Q2: $1.2B Revenue (TTM), FY24 Q3: $1.2B Revenue (TTM), FY24 Q4: $1.3B Revenue (TTM), FY25 Q1: $1.3B Revenue (TTM), FY25 Q2: $1.4B Revenue (TTM), FY25 Q3: $1.4B Revenue (TTM), FY25 Q4: $1.5B Revenue (TTM), FY26 Q1: $1.6B Revenue (TTM), FY26 Q2: $1.6B Revenue (TTM), FY26 Q3: $1.7B Revenue (TTM), FY26 Q4: $1.7B Revenue (TTM), FY27 Q1: $1.8B $1.8B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY24 Q2 $1.2B
FY24 Q3 $1.2B
FY24 Q4 $1.3B
FY25 Q1 $1.3B
FY25 Q2 $1.4B
FY25 Q3 $1.4B
FY25 Q4 $1.5B
FY26 Q1 $1.6B
FY26 Q2 $1.6B
FY26 Q3 $1.7B
FY26 Q4 $1.7B
FY27 Q1 $1.8B
Revenue growth, TTM YoY Elastic N.V.
16% 17% 18% 19% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue growth, TTM YoY, FY24 Q2: 18.5% Revenue growth, TTM YoY, FY24 Q3: 17.9% Revenue growth, TTM YoY, FY24 Q4: 18.6% Revenue growth, TTM YoY, FY25 Q1: 18.7% Revenue growth, TTM YoY, FY25 Q2: 18.7% Revenue growth, TTM YoY, FY25 Q3: 17.9% Revenue growth, TTM YoY, FY25 Q4: 17.0% Revenue growth, TTM YoY, FY26 Q1: 17.4% Revenue growth, TTM YoY, FY26 Q2: 17.0% Revenue growth, TTM YoY, FY26 Q3: 17.3% Revenue growth, TTM YoY, FY26 Q4: 17.3% Revenue growth, TTM YoY, FY27 Q1: 16.2% 16.2%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q2 18.5%
FY24 Q3 17.9%
FY24 Q4 18.6%
FY25 Q1 18.7%
FY25 Q2 18.7%
FY25 Q3 17.9%
FY25 Q4 17.0%
FY26 Q1 17.4%
FY26 Q2 17.0%
FY26 Q3 17.3%
FY26 Q4 17.3%
FY27 Q1 16.2%
Operating margin (TTM) Elastic N.V.
-15% -10% -5% 0% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Operating margin (TTM), FY24 Q2: -14.4% Operating margin (TTM), FY24 Q3: -10.3% Operating margin (TTM), FY24 Q4: -10.3% Operating margin (TTM), FY25 Q1: -9.7% Operating margin (TTM), FY25 Q2: -8.0% Operating margin (TTM), FY25 Q3: -6.2% Operating margin (TTM), FY25 Q4: -3.7% Operating margin (TTM), FY26 Q1: -2.0% Operating margin (TTM), FY26 Q2: -2.1% Operating margin (TTM), FY26 Q3: -1.7% Operating margin (TTM), FY26 Q4: -1.9% Operating margin (TTM), FY27 Q1: -2.6% -2.6%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q2 -14.4%
FY24 Q3 -10.3%
FY24 Q4 -10.3%
FY25 Q1 -9.7%
FY25 Q2 -8.0%
FY25 Q3 -6.2%
FY25 Q4 -3.7%
FY26 Q1 -2.0%
FY26 Q2 -2.1%
FY26 Q3 -1.7%
FY26 Q4 -1.9%
FY27 Q1 -2.6%
FCF margin (TTM) Elastic N.V.
0% 10% 20% 30% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 FCF margin (TTM), FY24 Q2: 5.8% FCF margin (TTM), FY24 Q3: 9.2% FCF margin (TTM), FY24 Q4: 11.5% FCF margin (TTM), FY25 Q1: 12.1% FCF margin (TTM), FY25 Q2: 14.6% FCF margin (TTM), FY25 Q3: 16.6% FCF margin (TTM), FY25 Q4: 17.7% FCF margin (TTM), FY26 Q1: 20.2% FCF margin (TTM), FY26 Q2: 18.8% FCF margin (TTM), FY26 Q3: 15.3% FCF margin (TTM), FY26 Q4: 18.5% FCF margin (TTM), FY27 Q1: 19.4% 19.4%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q2 5.8%
FY24 Q3 9.2%
FY24 Q4 11.5%
FY25 Q1 12.1%
FY25 Q2 14.6%
FY25 Q3 16.6%
FY25 Q4 17.7%
FY26 Q1 20.2%
FY26 Q2 18.8%
FY26 Q3 15.3%
FY26 Q4 18.5%
FY27 Q1 19.4%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

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

Fiscal year 2017 Apr 2017 2018 Apr 2018 2019 Apr 2019 2020 Apr 2020 2021 Apr 2021 2022 Apr 2022 2023 Apr 2023 2024 Apr 2024 2025 Apr 2025 2026 Apr 2026 LTM Jul 2026
Income
Revenue 88 160 272 428 608 862 1,069 1,267 1,483 1,739 1,802
Gross profit 68 119 194 305 447 630 772 937 1,103 1,323 1,361
EBITDA −44 −43 −96 −168 −126 −170 −216 −126 −52 −30 −45
Operating income −47 −48 −101 −171 −129 −174 −219 −130 −55 −33 −48
Net income −52 −53 −102 −167 −129 −204 −236 62 −108 368 376
Diluted EPS −$1.71 −$1.65 −$1.86 −$2.12 −$1.48 −$2.20 −$2.47 $0.59 −$1.04 $3.43 $3.51
Growth (year on year)
Revenue — +81.4% +69.9% +57.4% +42.3% +41.7% +24.0% +18.6% +17.0% +17.3% +16.2%
Net income — — — — — — — — −275.2% — —
Diluted EPS — — — — — — — — −276.3% — —
Margins
Gross margin 77.5% 74.5% 71.3% 71.3% 73.5% 73.1% 72.3% 74.0% 74.4% 76.1% 75.5%
EBITDA margin −49.9% −26.8% −35.2% −39.4% −20.8% −19.7% −20.2% −10.0% −3.5% −1.8% −2.5%
Operating margin −53.5% −30.0% −37.3% −40.0% −21.3% −20.1% −20.5% −10.3% −3.7% −1.9% −2.6%
Net margin −58.9% −33.0% −37.7% −39.1% −21.3% −23.6% −22.1% 4.9% −7.3% 21.1% 20.8%
Free-cash-flow margin −19.2% −14.9% −10.1% −8.3% 3.1% 0.4% 3.1% 11.5% 17.7% 18.5% 19.4%
Cash flow
Cash from operations −16 −21 −24 −31 23 6 36 149 266 327 354
Capital spending 1 3 3 5 4 2 3 3 4 5 5
Free cash flow −17 −24 −27 −36 19 3 33 145 262 322 349
Stock-based pay 19 13 40 60 3 3 204 239 258 298 303
Free cash flow after stock pay −36 −37 −67 −96 16 1 −171 −94 4 23 46
Balance sheet
Cash — 51 298 297 401 861 644 540 728 769 880
Total debt — 0 0 0 0 575 575 575 575 575 575
Net debt (negative = net cash) — −51 −298 −297 −401 −286 −69 35 −153 −194 −305
Diluted shares 30m 32m 55m 79m 87m 93m 96m 104m 104m 107m 107m
Returned to shareholders
Buybacks 0 0 0 0 — — — 0 0 340 380
Total returned 0 0 0 0 — — — 0 0 340 380

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

5 of 7 checks passed · July 31, 2026
What it owns · $3.0bn
Short-term assets $1.9bnLonger-term assets $1.1bn
What it owes, and who funded it · $3.0bn
Short-term liabilities $1.0bnLonger-term liabilities $668mShareholders' equity $1.3bn
  • Short-term assets cover short-term liabilities $1.9bn of assets due within a year against $1.0bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.9bn short-term assets against $668m of longer-dated liabilities.
  • More cash than debt $880m of cash against $571m of debt.
  • Debt below 40% of shareholders' equity Debt is 44% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 131% to 44% over five years.
  • A year's operating cash flow covers at least 20% of debt $354m of operating cash flow against $571m of debt.
  • Operating profit covers interest at least five times over Operating income of −$48m against $25m of interest.

From Elastic N.V.'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.

Dividends, buybacks and capital spending

FY2027 Q1 TTM
Buybacks (TTM)
$380M
Returned to shareholders
109%
of free cash flow
Buybacks, last 3 fiscal years
$340M
Diluted share count
+2.2%
year over year
Total shareholder yield
4.0%
dividends 0.0% + buybacks 4.0% of market value
R&D spending
25.3%
of revenue
Days sales outstanding
48 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in application software
Last 12 months unless stated ESTC ACIW PCTY IOT PEGA YMM Median
Revenue, last 12 months $1.8bn $1.8bn $1.8bn $1.8bn $1.7bn $1.7bn $482m
Revenue growth, last 12 months 16.2% 7.0% 11.0% 29.5% 0.9% 11.3% 12.0%
Revenue growth, 3-year average 17.4% 9.9% 14.7% 33.3% 8.9% — 11.1%
Revenue growth, latest quarter 15.1% 7.3% 11.0% 29.9% 3.1% — 11.9%
Gross margin 75.5% 49.1% 69.2% 76.4% 75.9% 63.0% 69.2%
Operating margin −2.6% 18.6% 21.8% 1.0% 9.9% 33.2% 1.1%
Operating margin, 3-year average −4.8% 19.3% 19.8% −11.8% 12.2% — −0.8%
Net margin 20.8% 12.4% 15.2% 4.9% 16.9% 35.7% 2.1%
Cash from operations / revenue 19.6% 18.1% 30.1% 15.6% 26.5% 37.0% 18.2%
Free-cash-flow margin 19.4% 17.1% 28.1% 13.8% 25.3% 36.0% 15.0%
Free-cash-flow margin, 3-year average 17.2% 17.6% 26.5% 8.5% 24.0% — 16.2%
Stock pay / revenue 16.8% 4.3% 7.8% 17.9% 8.3% 2.3% 9.3%
Change in share count 2.2% −3.1% −3.1% 3.1% 4.1% 0.1% 2.2%

Median of all 185 companies we cover in application software. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

185 application software companies
Measure Company Peer median Rank
Revenue growth Growth 16.2% 12.0% 72 of 184
Change in growth rate Growth -1.1pp +0.2pp 125 of 184
Gross margin Profitability 75.5% 69.8% 58 of 160
Operating margin Profitability -2.6% 1.1% 106 of 181
Net margin Profitability 20.8% 2.1% 27 of 185
Free-cash-flow margin Cash generation 19.4% 15.2% 77 of 180
Stock pay as % of revenue Cash generation 16.8% 9.3% 138 of 177
Long-term debt as % of assets Balance sheet 19.0% 16.9% 59 of 98
Change in share count Balance sheet 2.2% 1.7% 87 of 163
Days sales outstanding Balance sheet 48 days 57 days 59 of 162

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to April 30, 2026
Products and services
Line of business Revenue Share YoY
Subscription $1.6B 94.0% ▲ 18.1%
Saa S Self Managed $837M 51.2% ▲ 21.8%
Self Managed Subscription $797M 48.8% ▲ 14.4%
Professional Services $105M 6.0% ▲ 6.2%
Geography
Region Revenue Share YoY
United States $947M 54.5% ▲ 13.3%
Outside the US $792M 45.5% ▲ 22.4%

From Elastic N.V.'s 10-K filed June 8, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$5.2B
Institutions reporting
371
Shares held vs prior quarter
▲ 2.7%
Positions opened / closed
68 / 73

Top buyers and sellers, Q2 2026: 190 institutions bought and 205 sold ; the biggest buyer was D. E. Shaw & Co., Inc (+1.3M shares) and the biggest seller Freestone Grove Partners LP (−2.1M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $363M 6.4M 6.9% ▼ 7.8%
AQR Capital Management LLC $346M 6.1M 6.6% ▼ 19.5%
Vanguard Portfolio Management LLC $337M 5.9M 6.4% ▲ 7.0%
Pictet Asset Management Holding SA $332M 5.8M 6.3% ▼ 10.3%
D. E. Shaw & Co., Inc. $273M 4.8M 5.2% ▲ 38.3%
Vanguard Capital Management LLC $229M 4.0M 4.4% ▼ 1.4%
Fil Ltd $192M 3.4M 3.7% ▼ 0.2%
First Trust Advisors LP $173M 3.0M 3.3% ▲ 15.3%
Alyeska Investment Group, L.P. $141M 2.5M 2.7% ▲ 4.7%
Assenagon Asset Management S.A. $103M 1.8M 2.0% ▲ 101.2%
Geode Capital Management, LLC $94.3M 1.7M 1.8% ▼ 6.3%
State Street Corp $93.7M 1.6M 1.8% ▲ 0.1%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Elastic N.V.'s complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $710,230 3 trades by 1 insider, last 12 months Insider sales History → $436M 63 trades by 8 insiders · 0% under pre-set plans
Net ▼ $435M net selling
Insider Date Trade Shares Price Value
Schuurman Steven Director October 12, 2026 Sell 2,000,000 $94.15 $188M
Schuurman Steven Director October 5, 2026 Sell 1,500,000 $90.13 $135M
Dodds Mark Eugene Chief Revenue Officer October 2, 2026 Sell 10,000 $92.58 $925,800
Banon Shay Chief Technology Officer September 14, 2026 Sell 15,086 $85.30 $1.3M
Banon Shay Chief Technology Officer September 14, 2026 Sell 69,121 $84.50 $5.8M
Banon Shay Chief Technology Officer September 10, 2026 Sell 6,101 $85.16 $519,561
Banon Shay Chief Technology Officer September 10, 2026 Sell 100 $87.00 $8,700
Welihinda Navam Chief Financial Officer September 9, 2026 Sell 8,961 $87.78 $786,597
Dodds Mark Eugene Chief Revenue Officer September 9, 2026 Sell 9,673 $87.78 $849,096
Herzog Carolyn Chief Legal Officer September 9, 2026 Sell 5,485 $87.78 $481,473
Bone Jane E GVP & CAO September 9, 2026 Sell 1,542 $87.78 $135,357
Kulkarni Ashutosh Chief Executive Officer September 9, 2026 Sell 29,227 $87.78 $2.6M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 4 trades and filings

No trades in Elastic N.V. disclosed in the last 12 months; 4 earlier trades on record.

  • Robert P. Bresnahan, Jr.(R-PA 8):Sale (full), $1,001 - $15,000, traded May 23, 2025, filed June 23, 2025
  • Josh Gottheimer(D-NJ 5):Sale (full), $1,001 - $15,000, traded March 15, 2021, filed April 21, 2021
  • Anthony Gonzalez(R-OH 16):Sale (full), $50,001 - $100,000, traded March 5, 2021, filed April 2, 2021

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 19, 2026 estimated from the company's past filing pattern, not announced

  • August 27, 2026
  • May 28, 2026
  • February 26, 2026
  • November 20, 2025
  • August 28, 2025
  • May 29, 2025

Recent SEC filings

Data status

When each part of this page on Elastic N.V. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Elastic N.V. in brief

What does Elastic N.V. do?
Elastic N.V. is a US-listed company in the application software industry. Its financial year ends in April.
What is Elastic N.V.'s stock ticker?
Elastic N.V. trades under the ticker ESTC on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Elastic N.V.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Elastic N.V. reported revenue of $1.8B, 16.2% higher than a year earlier, according to its SEC filings.
What is Elastic N.V.'s free cash flow?
Elastic N.V.'s free-cash-flow margin is 19.4% of revenue over the trailing twelve months, ranking 77 of the 180 application software companies we cover.
Who are Elastic N.V.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., AQR Capital Management LLC and Vanguard Portfolio Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Elastic N.V. buying back stock, and does it pay a dividend?
Elastic N.V. spent $380M on share repurchases over the trailing twelve months, and its diluted share count still rose 2.2% over the year.
What is Elastic N.V.'s market cap?
On November 2, 2026, Elastic N.V.'s market capitalisation was about $9.8B, with a price-to-earnings ratio of 26.0 and net debt of -$305M. Market figures come from third-party market data and may be delayed.
How much debt does Elastic N.V. have?
Elastic N.V.'s debt-to-equity ratio is 44.0%, from its latest balance sheet (131.0% five years earlier). The financial health section below sets out its other solvency checks.
Who are Elastic N.V.'s competitors?
In our Application Software peer group, the companies closest to Elastic N.V. are ACI Worldwide, Inc., Paylocity Holding Corp, Samsara Inc., Pegasystems Inc and Full Truck Alliance Co. Ltd. The side-by-side comparison below sets their revenue, margins and growth against Elastic N.V.'s.
Are insiders buying or selling Elastic N.V. stock?
Over the last 12 months, Elastic N.V.'s directors and officers reported 3 open-market purchases and 63 sales on Form 4. The insider trading page charts every trade.
When is Elastic N.V.'s next earnings date?
Around November 19, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Elastic N.V. announces its own schedule.