Gitlab Inc. key statistics and ratios

In fiscal 2026, Gitlab Inc. had return on equity of -6.3%, an operating margin of -7.4% and a current ratio of 2.54. 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.

Gitlab Inc.: financial ratios, annual
Fiscal year	2020Jan 2020	2021Jan 2021	2022Jan 2022	2023Jan 2023	2024Jan 2024	2025Jan 2025	2026Jan 2026	LTMJul 2026
Gross margin	88.5%	87.9%	88.1%	87.8%	89.7%	88.8%	87.4%	85.8%
Operating margin	−158.0%	−140.6%	−51.0%	−49.8%	−32.3%	−18.8%	−7.4%	−8.5%
Net margin	−161.0%	−126.3%	−61.4%	−40.9%	−73.4%	−0.8%	−5.9%	−5.0%
Free-cash-flow margin	−74.1%	−48.4%	−21.1%	−19.7%	5.8%	−8.9%	23.2%	20.3%
Return on equity	—	—	−57.1%	−22.4%	−64.0%	−0.9%	−6.3%	−5.5%
Return on assets	—	−53.0%	−21.3%	−15.3%	−34.2%	−0.5%	−3.6%	−3.1%
Asset turnover	—	0.42	0.35	0.38	0.47	0.56	0.61	0.62
Current ratio	—	2.74	4.35	3.65	1.90	2.45	2.54	2.41
Debt to equity	—	—	—	—	—	—	—	0.0%
R&D as % of revenue	73.1%	70.1%	38.5%	36.8%	34.6%	31.6%	28.7%	28.8%
Capital spending as % of revenue	0.0%	0.0%	1.4%	1.4%	0.3%	0.5%	1.1%	0.9%
Dividends and buybacks ÷ free cash flow	—	—	—	—	0.0%	—	—	—

US$ thousands unless shown otherwise. Fiscal quarters.

Gitlab Inc.: 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	88.7%	89.2%	88.3%	87.9%	86.8%	86.6%	85.8%	84.1%
Operating margin	−14.7%	−9.1%	−16.1%	−7.8%	−5.1%	−2.0%	−6.0%	−19.9%
Net margin	14.8%	3.3%	−16.7%	−3.9%	−3.4%	−1.0%	−1.9%	−12.9%
Free-cash-flow margin	−90.8%	29.4%	49.1%	19.7%	11.6%	16.0%	55.6%	−1.2%
Current ratio	2.57	2.45	2.48	2.60	2.66	2.54	2.55	2.41
R&D as % of revenue	31.3%	29.7%	30.5%	30.3%	28.1%	26.5%	27.1%	33.2%

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

2 of 2 checks passed · July 31, 2026

What it owns · $1.7bn

Short-term assets $1.6bnLonger-term assets $67m

What it owes, and who funded it · $1.6bn

Short-term liabilities $662mLonger-term liabilities $28mShareholders' equity $926m

Short-term assets cover short-term liabilities $1.6bn of assets due within a year against $662m of liabilities due within a year.
Short-term assets cover long-term liabilities $1.6bn short-term assets against $28m 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 Gitlab 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

48 /100

Moderate moat

How hard Gitlab's competitive advantage looks for rivals to wear away, judged from 6 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

Returns on capital 4 / 20

Cash operating profit has been a median 4.6% of total assets over 5 years.
Pricing power 20 / 20

Gross margin has been a median 88.4%, moving by 1.1 percentage points (standard deviation) across 6 years.
Durability 10 / 20

Operating margin has been a median -34.2%; its worst year was -106.3%.
Cash conversion 8 / 20

Free cash flow was positive in 3 of 5 years, at a median 4.2% 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 (53 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 Gitlab Inc.'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 Gitlab Inc.