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Jfrog Ltd key statistics and ratios

In fiscal 2025, Jfrog Ltd had return on equity of -8.6%, an operating margin of -17.3%, debt equal to 0.0% of equity and a current ratio of 2.14. 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.

Fiscal year2018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Gross margin83.1%80.9%81.1%79.8%77.8%78.0%77.1%76.8%77.9%
Operating margin−42.3%−6.6%−9.4%−33.1%−32.1%−21.6%−21.3%−17.3%−11.5%
Net margin−40.9%−5.2%−6.2%−31.1%−32.2%−17.5%−16.2%−13.5%−7.3%
Free-cash-flow margin10.2%7.8%17.2%11.5%6.1%20.6%25.2%26.8%28.3%
Return on equity——−3.6%−10.8%−14.3%−9.4%−9.5%−8.6%−4.8%
Return on assets—−2.3%−2.0%−8.3%−10.5%−6.6%−6.6%−5.8%−3.1%
Asset turnover—0.440.330.270.320.380.410.430.42
Current ratio—2.315.322.852.542.462.042.142.14
Debt to equity——0.0%0.0%0.0%0.0%0.0%0.0%0.0%
R&D as % of revenue40.7%28.4%27.3%38.5%43.3%38.5%37.5%36.7%35.0%
Capital spending as % of revenue3.3%1.7%2.3%2.0%1.5%0.6%0.7%0.7%1.1%

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

2 of 2 checks passed · June 30, 2026
What it owns · $1.5bn
Short-term assets $1.0bnLonger-term assets $472m
What it owes, and who funded it · $1.5bn
Short-term liabilities $477mLonger-term liabilities $52mShareholders' equity $961m
  • Short-term assets cover short-term liabilities $1.0bn of assets due within a year against $477m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.0bn short-term assets against $52m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • 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 Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Jfrog Ltd'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

60 /100

Moderate moat

How hard Jfrog's competitive advantage looks for rivals to wear away, judged from 7 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 10 / 20

    Cash operating profit has been a median 8.3% of total assets over 6 years.

  • Pricing power 20 / 20

    Gross margin has been a median 78.1%, moving by 1.8 percentage points (standard deviation) across 7 years.

  • Durability 10 / 20

    Operating margin has been a median -21.8%; its worst year was -34.8%.

  • Cash conversion 20 / 20

    Free cash flow was positive in 6 of 6 years, at a median 25.0% 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 (74 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 Jfrog Ltd'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 Jfrog Ltd.