Elastic N.V.

Services-Prepackaged Software

ESTCStrained7 of 10 basics passed

$98.51

+3.41%

Market cap $10.3B

$98.51

+3.41%

Market cap $10.3B

Elastic is a software company that specializes in AI-search, observability, and security deployments. Its search division offers both traditional keyword search and vector search methods to enable more context-aware querying.

It is a $10.3B technology company. Revenue grew 16.2% over the last year, and it keeps 21¢ of every dollar of sales as profit. It trades at 27.5× earnings — in the cheapest third of its own history.

Website: elastic.co
Location: San Francisco, CA
Employees: 3 834
Sector: Technology
Founded: 2012

Share price · 3 years

$80.38 → $98.51+22.6%

price only — dividends excluded

Key facts · TTM

Revenue: total sales; $1.80B
Profit: keeps 21¢ of every $1 sold; $376M
Free cash flow: cash left after running the business; $349M
P/E: years of profit in the price; 27.5
EPS: earnings per share, TTM; $3.50
Shares: up 16% since 2022 — dilution; 107.2M
Volatility: beta vs the market — under 1 swings less; 0.99

Revenue, last 8 years

52-week range

Low $43.30$98.51High $99.91

Today's price is 98% of the way from the year's low to its high.

P/E vs its history3y

27.5×median 180.9×

Higher than 16% of past days — in the cheapest third of its own history.

Valuation vs own history

P/E

27.5×

84%

P/S

5.7×

66%

P/B

8.0×

87%

FCF yield

3.4%

79%

Share of the last ~5 years that was pricier than today (cheaper than usual). Based on the daily valuation record.

Insider activity · 90 days

-$162Mnet selling

Purchases$0

Sales$162M

Insiders trading, last 14d0 buy · 2 sell

Standing in Technology

Size$10.3Btop 88%
Revenue growth+18%top 31%
Net margin21%top 30%
Return on equity35%top 22%
P/E27.5×top 38%

Ranked against 220 Technology companies with a full CV — for P/E, lower ranks higher.

Skills

Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.

Growth, Health, Quality and Moat lag behind.

Valuation59

P/E vs own history16th pct · 25/25
FCF yield3.4% · 12/25
P/S5.7x · 12/25
EV/EBITDAn/a · 10/25

Growth20

Revenue CAGR19.2% · 20/25
Net income CAGRn/a · 0/25
EPS CAGR ~5Yn/a · 0/25
Fwd implied growth-6.1% · 0/25

Profitability50

ROICn/a · 0/25
ROE35.3% · 25/25
Net margin20.8% · 25/25
Operating margin-2.6% · 0/25

Health18

Altman Zn/a · 0/25
Current ratio1.81 · 18/25
Interest coverage-84.7x · 0/25
Net cash / debtn/a · 0/25

Quality27

Piotroski F6/9 · 15/25
Beneish M2.94 · 0/25
FCF conversionn/a · 0/25
Margin stabilityσ 14.1% · 12/25

Moat35

ROIC >12% years0/6 yrs · 0/25
Median gross margin73.3% · 25/25
FCF-positive years6/8 yrs · 10/25
Worst-year net marginworst -39.1% · 0/25

How the scores work →

Experience

The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.

FY2026Financial
Best year on record
$368M net income
FY2025Financial
Became debt-free
cash now exceeds total debt
FY2024Financial
Turned profitable
$61.7M net income after a loss year
FY2023Financial
Revenue crossed $1B
$1.07B for the year
FY2021Financial
Positive free cash flow every year since
6-year streak
2015Acquisition
The company rebranded as Elastic
2012Founded
Originally known as Elasticsearch, the company was founded in 2012 in Amsterdam, Netherlands
2004Product
Shay Banon developed a recipe software application for his wife, who was studying at Le Cordon Bleu

Achievements

Verifiable track record, straight from the reported numbers.

$10 000 invested in 2021 would be worth ~$5 899 today — price return only

$1.7B revenue in FY2026

Revenue up 16.2% year over year

Positive free cash flow 6 years in a row

3 834 employees

Strengths & watch-outs

What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.

Strengths

High gross margin (75.5%)
Strongly profitable — 20.8% net margin
Revenue growing 16.2% year over year
Strong cash conversion — FCF is 19.4% of revenue

Watch-outs

Thin interest coverage (-84.7×)
Loss-making in 6 of the recent years

Qualifications

The basics a company should meet before you research it further. Each check uses the reported numbers.

7 of 10 checks passed

Revenue growing — the company sells more than a year ago+16.2% YoY
Profitable — makes more than it spends$376M TTM
Profit growing — earnings are higher than last year+440.2% YoY
Generates cash — cash left after running and investing$349M TTM
Debt under control — could handle its obligationscurrent ratio 1.81
Established company — not a micro-cap — lower blow-up risk$10.3B market cap
Not printing shares — share count not ballooning — you keep your slice+15.9% shares over ~5y
Proven track record — years of profitability behind it2/8 profitable years
Financially stable — balance sheet not near distresshealth score 18/100
Pays a dividend — returns cash to shareholdersno data
Valuation not extreme — price not wildly above earningsP/E 27.5

Peer comparisonElastic N.V. vs 6 largest technology peers — cap, P/E, growth and margin side by sideOpen ▾

Company	Market cap	P/E	Revenue growth	Net margin	Profile
ESTC this company	$10.3B	27.5	+16.2%	20.8%	Strained
NVDA Nvidia Corp	$5.5T	28.6	+83.4%	63.7%	Mixed
AAPL Apple Inc.	$4.9T	38.1	+14.2%	27.6%	Strong
GOOGL Alphabet Inc.	$4.3T	17.6	+20.1%	54.8%	Mixed
MSFT Microsoft Corp	$4.0T	29.7	+17.8%	40.3%	Strong
SPCX Space Exploration Technologies Corp.	$2.1T	—	+33.2%	-34.0%	Strained
META Meta Platforms, Inc.	$1.8T	26.9	+27.7%	29.8%	Mixed

Head-to-head: ESTC vs NVDA · ESTC vs AAPL · ESTC vs GOOGL

References

What covering analysts publish about the company — information only, not a recommendation.

Strong buy 10Buy 12Hold 14

Appendix · Financial records

The full statements behind this CV, FY2019–FY2026. For readers who want to check the numbers.

Profit & lossRevenue $1.80B · net income $376M (TTM)Open ▾

Profit & loss

Revenue and profit over the company's career — the income statement, visualised.

How FY2026 revenue flows to profit

RevenueNet income

Revenue (TTM)

$1.80B

YoY 16.2%

Net income (TTM)

$376M

Margin 20.8%

Gross margin

75.5%

Operating margin

-2.6%

P/E ratio

27.5

Income statement — full detail

Figures in USD billions · EPS in USD

	2021	2022	2023	2024	2025	2026
Revenue	0.6	0.9	1.1	1.3	1.5	1.7
Gross profit	0.4	0.6	0.8	0.9	1.1	1.3
Operating income (EBIT)	-0.1	-0.2	-0.2	-0.1	-0.1	-0.0
Net income	-0.1	-0.2	-0.2	0.1	-0.1	0.4
EPS (diluted)	—	-2.20	-2.47	0.59	-1.04	3.43

Cash flowFree cash flow $349M · operating cash flow $354M (TTM)Open ▾

Cash flow statement

Cash generated by the business and what is left after investment — year by year.

Operating cash flowFree cash flow

Free cash flow (TTM)

$349M

Margin 19.4%

Operating cash flow (TTM)

$354M

FCF margin

19.4%

Cash flow statement — full detail

Figures in USD billions

	2021	2022	2023	2024	2025	2026
Operating cash flow	0.0	0.0	0.0	0.1	0.3	0.3
Capital expenditure	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0
Free cash flow	0.0	0.0	0.0	0.1	0.3	0.3
FCF margin	3.1%	0.4%	3.1%	11.5%	17.7%	18.5%

Balance sheetAssets — · debt n/a (FY2026)Open ▾

Balance sheet

How the balance sheet is built — what it owns versus how it is financed.

Debt repayment

0.0 yrs

Years of free cash flow to clear net debt

Interest coverage

-84.7x

EBIT ÷ interest expense

ROE

35.3%

Profit per $1 of equity

Balance sheet — full detail

Figures in USD billions

	2021	2022	2023	2024	2025	2026
Cash & equivalents	0.4	0.9	0.6	0.5	1.4	—
Total assets	1.0	1.6	1.7	2.2	2.6	—
Total liabilities	0.5	1.2	1.3	1.5	1.7	—
Total debt	—	0.6	0.6	0.6	0.6	—
Equity	0.5	0.4	0.4	0.7	0.9	—
Net debt	—	-0.3	-0.1	0.0	-0.8	—

Want the live picture — intraday moves, valuation history and full analysis?

Deeper analysis of ESTC on PreMarketPrice

Figures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $98.51 · market cap $10.3B.