Latest Ratios: P/E Ratio -93.9x · EV/EBITDA N/A · ROE -6.0%. (2020–2026 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $5.5B | $5.8B | $11.7B | $11.0B | $7.3B | $9.3B | — | — |
| Enterprise Value | $5.3B | $5.6B | $11.5B | $10.7B | $7.0B | $8.4B | — | — |
| P/E Ratio → | -93.86 | — | — | — | — | — | — | — |
| P/S Ratio | 5.81 | 6.07 | 15.39 | 18.92 | 17.28 | 36.67 | — | — |
| P/B Ratio | 5.26 | 5.60 | 14.23 | 18.09 | 8.89 | 11.59 | — | — |
| P/FCF | 24.99 | 26.12 | — | 328.06 | — | — | — | — |
| P/OCF | 23.83 | 24.91 | — | 313.10 | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 5.83 | 15.09 | 18.42 | 16.59 | 33.17 | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — |
| EV / FCF | — | 25.09 | — | 319.46 | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 87.4% | 87.4% | 88.8% | 89.7% | 87.8% | 88.1% | 87.9% | 88.5% |
| Operating Margin | -7.4% | -7.4% | -18.8% | -32.3% | -49.8% | -51.0% | -140.6% | -158.0% |
| Net Profit Margin | -5.9% | -5.9% | -0.8% | -73.4% | -40.9% | -61.4% | -126.3% | -161.0% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|---|
| ROE | -6.0% | -6.0% | -0.9% | -59.5% | -21.4% | -54.6% | — | — |
| ROA | -3.6% | -3.6% | -0.5% | -34.2% | -15.3% | -21.3% | -51.0% | -33.4% |
| ROIC | -7.5% | -7.5% | -23.5% | -33.1% | -71.3% | — | — | — |
| ROCE | -7.3% | -7.3% | -19.0% | -24.9% | -24.7% | -23.8% | -77.9% | -40.9% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | 0.00 | 0.00 | 0.00 | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.22 | -0.28 | -0.47 | -0.36 | -1.11 | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — |
| Debt / FCF | — | -1.03 | — | -8.60 | — | — | — | — |
| Interest Coverage | — | — | — | — | — | — | — | — |
Net cash position: cash ($230M) exceeds total debt ($0)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.54 | 2.54 | 2.45 | 1.90 | 3.65 | 4.35 | 2.74 | 4.94 |
| Quick Ratio | 2.54 | 2.54 | 2.45 | 1.90 | 3.49 | 4.19 | 2.74 | 4.94 |
| Cash Ratio | 1.93 | 1.93 | 1.82 | 1.53 | 3.06 | 3.87 | 2.22 | 4.41 |
| Asset Turnover | — | 0.55 | 0.54 | 0.44 | 0.36 | 0.23 | 0.42 | 0.21 |
| Inventory Turnover | — | — | — | — | 1.05 | 0.76 | — | — |
| Days Sales Outstanding | — | 116.28 | 133.90 | 112.33 | 115.54 | 111.58 | 95.10 | 111.33 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — |
| FCF Yield | 4.0% | 3.8% | — | 0.3% | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $166M | $161M | $154M | $148M | $145M | $132M | $132M |
Seat-based revenue contraction
According to recent market data, GitLab trades at a forward P/E of 35.78, a multiple that appears increasingly difficult to justify as year-over-year revenue growth decelerates toward the mid-twenties, suggesting that the market may be overestimating the company's ability to maintain its historical high-growth premium.
The current P/S ratio of 5.14 reflects a valuation that assumes significant future margin expansion and market share capture in the DevOps space. Investors should monitor whether the forward P/E multiple compresses further if the company fails to demonstrate a clear path to GAAP profitability in the coming fiscal quarters.
Based on reported financial statements, GitLab's ROIC has consistently remained in negative territory, reaching -1.6% in 2027Q1, which indicates that the company has yet to achieve the necessary scale to generate returns on invested capital that exceed its cost of capital in a meaningful way.
The persistent negative ROIC suggests that the company's aggressive investment in R&D and sales infrastructure has not yet translated into efficient capital compounding. This trend warrants further investigation into whether the current business model can achieve structural profitability without significantly slowing its investment in product innovation.
As indicated by recent quarterly filings, GitLab's DSO has fluctuated between 76 and 104 days over the last ten quarters, reflecting the inherent volatility in enterprise billing cycles and the company's reliance on large, multi-year contracts that can create lumpy cash flow patterns throughout the fiscal year.
The asset turnover ratio, hovering around 0.15, highlights the capital-intensive nature of building a global software platform, where significant upfront investment is required before revenue recognition catches up. Investors should monitor the stability of these working capital metrics as a proxy for the company's ability to manage its customer base effectively.
Based on an analysis of the business model, the P/E ratio is the most commonly misapplied metric for GitLab, as it obscures the company's true operational health by failing to account for the heavy impact of non-cash stock-based compensation on reported GAAP earnings.
Because GitLab relies heavily on equity-based incentives to attract engineering talent, the P/E ratio provides a distorted view of the company's actual cash-generating capacity. Analysts should instead focus on free cash flow margins and adjusted operating income to better understand the underlying profitability of the subscription-based platform.
Includes 30+ ratios · 7 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying GTLB stock.
GitLab Inc.'s current P/E ratio is -93.9x. This places it at the 50th percentile of its historical range.
GitLab Inc.'s return on equity (ROE) is -6.0%. The historical average is -28.5%.
Based on historical data, GitLab Inc. is trading at a P/E of -93.9x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
GitLab Inc. has 87.4% gross margin and -7.4% operating margin.