CASH
UnverifiedOperating cash flow
Operating cash flow: $332.8M → $530.3M (+59.3% YOY)
Operating cash flow increased, but no eligible quarterly year-over-year explanation was supplied.
C
CrowdStrike Holdings, Inc.
CRWD
Price$262.48
Market cap$266.7B
Market data as of2026-09-23
Fundamentals through2026-07-31
Data ready
Current state
Standard DCF
Current price
$262.48
Market capitalization
$266.7B
Valuation date
2026-09-23
Model-Implied Valuation Gap
-87.3%
relative to current market capitalization
Model equity value
$34B
Previous gap
-85.3%
Change vs prior
-1.9% pp
Model & data status
Standard DCFStandard DCF · PassHIGH confidenceP/E · PassEarnings contextFresh data
Published2026-08-26
Market data as of2026-09-23
Fundamentals through2026-07-31
Valuation date2026-09-23
Why the model sees this gap
The standard DCF implies an equity value substantially below the current market capitalization. The latest widening is entirely market-driven: market capitalization rose without a new operating-period update. Across the supplied chronology, higher FCFF and generally greater cash balances supported modeled equity value, but repeated market re-rating outweighed those fundamental improvements. Current diluted earnings are positive but small, making the reported P/E sensitive to its earnings denominator; material non-operating items and corporate-action normalization limit multiple interpretation.
Primary drivers
market cap used
Central research view
Price, Fundamentals & Valuation
Range
Scale
Stock PriceRevenue
Fundamental points reflect latest reported states; no daily interpolationPoint-in-time states
How the Valuation Gap Evolved
2026-09-23Market Move Since Latest Fundamental State-85.3% → -87.3%Market-only update extends the widening
What changed
The gap widened to its current level without a new operating-period update.
Why changed
The supplied attribution assigns the widening entirely to higher market capitalization, rather than changed fundamentals.
2026-08-27New Financial Period-82.7% → -85.3%Continued re-rating outweighs stronger fundamentals
What changed
The gap widened again as market value grew faster than modeled support.
Why changed
Higher FCFF and cash narrowed the gap on fundamental grounds, but the market-cap increase more than offset them.
2026-06-04New Financial Period-72.2% → -82.7%Sharp market re-rating overwhelms FCFF growth
What changed
The gap widened sharply despite stronger cash generation.
Why changed
Higher market capitalization dominated the FCFF improvement, while reduced cash balances also widened the gap.
2026-03-04New Financial Period-80.5% → -72.2%Market decline and stronger fundamentals narrow the gap
What changed
The gap narrowed substantially.
Why changed
Lower market capitalization was reinforced by higher FCFF and renewed cash accumulation.
2025-12-03New Financial Period-77.7% → -80.5%Market gains outpace FCFF recovery
What changed
The gap resumed widening.
Why changed
Higher market capitalization outweighed stronger FCFF, while lower cash balances added fundamental pressure.
2025-08-28New Financial Period-79.1% → -77.7%Market easing and fundamental gains narrow the gap
What changed
The gap narrowed modestly.
Why changed
Lower market capitalization combined with higher cash and recovering FCFF to support narrowing.
Fundamental intelligence
What Changed — and Why
EARNINGS QUALITY
HIGHNet income
Net income: -$70.1M → $5.3M (sign change, YOY; percentage change not meaningful)
Net income moved from a loss to a profit, principally reflecting a narrower operating loss, with tax benefits helping and lower interest income offsetting the improvement.
GROWTH
HIGHRevenue
Revenue: $1.17B → $1.47B (+25.8% YOY)
Revenue growth was led by subscriptions, supported by new customers and expanded sales to existing customers.
PROFITABILITY
HIGHOperating income
Operating income: -$105.5M → -$33.2M (+68.5% YOY)
The operating loss narrowed as gross-profit growth exceeded higher operating expenses; reduced Strategic Plan charges also helped.
Deterministic review
Quality of Earnings
NET INCOME OPERATING INCOME GAPMEDIUM
Net income and operating income differ materially; tax, interest and other non-operating items require explanation.
UNUSUAL EFFECTIVE TAX RATEMEDIUM
Effective tax rate is 2.1%; check tax benefits, valuation allowances and one-offs.
Earnings context
Earnings & Multiples
TTM diluted EPS
$0.037
P/E
7,146×
Latest quarter EPS
$0.01
Status
Pass
net income to common over ttm diluted shares split normalized. P/E is context only and not an investment signal.
Reliability & provenance
Data Quality
Canonical facts1,639
Quarter periods19
Conflicts0
Unresolved0
Fundamentals history ready Coherent snapshot Evidence linked