Elastic N.V. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Elastic N.V. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2017	FY2019	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	88.2	160	272	428	608	862	1,069	1,267	1,483	1,739
Cost of revenue	19.8	40.7	78	123	161	232	297	330	380	416
Gross profit	68.3	119	194	305	447	630	772	937	1,103	1,323
Research and development	32.6	55.6	101	165	199	274	313	342	366	452
Selling and marketing	56.6	82.6	147	219	274	407	504	560	617	710
General and administrative	26.3	28.9	46.5	91.6	104	123	143	161	175	194
Operating expenses	116	167	295	476	577	804	992	1,067	1,158	1,357
Operating income	-47.2	-48	-101	-171	-129	-174	-219	-130	-54.9	-33.5
Interest expense				0	0.19	20.7	25.2	26.1	25.3	25.1
Other non-operating income	-0.58	-1.36	3.44	1.96	7.95	-3.39	27.5	33.3	48.7	56.3
Pre-tax income	-47.8	-49.4	-97.9	-169	-122	-198	-217	-123	-31.6	-2.3
Income tax	4.21	3.38	4.39	-1.97	7.72	6.06	19.3	-184	76.5	-370
Net income	-52	-52.7	-102	-167	-129	-204	-236	61.7	-108	368
EBITDA	-44	-42.9	-95.7	-168	-126	-170	-216	-126	-51.8	-30.5
EPS, basic	-1.71	-1.65	-1.86	-2.12	-1.48	-2.20	-2.47	0.62	-1.04	3.49
EPS, diluted	-1.71	-1.65	-1.86	-2.12	-1.48	-2.20	-2.47	0.59	-1.04	3.43
Shares, basic (weighted)	30.4	32	54.9	78.8	87.2	92.5	95.7	99.6	104	105
Shares, diluted (weighted)	30.4	32	54.9	78.8	87.2	92.5	95.7	104	104	107

Balance sheet

	FY2017	FY2019	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents		50.9	298	297	401	861	644	540	728	769
Short-term investments								544	670	602
Receivables		53.2	81.3	129	160	215	261	323	376	464
Other current assets		3.75	8.25	6.66	6.73	41.2	39.9	42.8	68.3	80.4
Total current assets		132	430	480	637	1,164	1,274	1,531	1,931	2,023
Property, plant and equipment		4.54	5.45	7.76	8.88	7.21	5.09	5.45	6.59	8.59
Lease right-of-use assets				32.8	25.5	25.4	20	20.5	22.3	18.6
Goodwill	12.1	19.2	19.8	198	199	304	304	319	319	356
Intangible assets		8.3	6.72	50.5	36.3	45.8	29.1	20.6	11.4	13.1
Other non-current assets		8.63	13.4	7.62	12.5	16.6	8.08	5.66	16.3	14.4
Total assets		183	486	804	973	1,643	1,743	2,243	2,593	3,153
Accounts payable		2.18	4.45	11.5	7.25	28.4	35.2	26.1	17.2	8.62
Accrued liabilities		3.28	8.12	10.9	12.8	24.1	24.2	34.8	36.6	44.1
Deferred revenue		95.9	158	243	353	432	529	664	802	974
Total current liabilities		125	204	333	450	593	717	871	1,008	1,205
Lease liabilities				27.8	19.6	16.5	13.9	12.9	16.4	14.1
Other non-current liabilities		3.88	6.72	13	7.78	17.6	12.2	21.5	20.9	33.7
Total liabilities		136	223	390	522	1,227	1,345	1,504	1,666	1,876
Total debt					0	567	568	569	570	571
Paid-in capital		62.5	581	899	1,072	1,250	1,472	1,751	2,049	2,311
Retained earnings		-215	-317	-484	-613	-817	-1,053	-992	-1,100	-732
Treasury stock		-0.37	-0.37	-0.37	-0.37	-0.37	-0.37	-0.37	-0.37	-276
Other comprehensive income		-0.96	-1.43	-1.38	-8.11	-18.1	-20	-21.6	-23.2	-27.9
Shareholders' equity	-129	-154	263	414	451	415	399	738	927	1,277
Total equity	-129	-154	263	414	451	415	399	738	927	1,277
Total liabilities and equity		183	486	804	973	1,643	1,743	2,243	2,593	3,153
Shares outstanding		33.2	73.7	82.9	90.5				106	105

Cash flow statement

	FY2017	FY2019	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	-52	-52.7	-102	-167	-129	-204	-236	61.7	-108	368
Depreciation and amortization	3.15	5.07	5.7	2.8	3.1	3.9	3.6	3.5	3.1	3
Stock-based compensation	18.9	12.7	39.9	60	2.5	2.5	204	239	258	298
Deferred income tax	0.66	-0.32	3.62	-1.54	0.03	-2.43	-2.01	-217	57.4	-399
Change in receivables	-11.1	-21.6	-29.8	-46.8	-24	-62.2	-46.4	-63.5	-48.9	-86.8
Change in payables	-0.24	-0.02	2.23	5.97	-4.78	21	6.3	-10	-8.95	-8.97
Cash from operations	-16.1	-20.8	-23.9	-30.6	22.5	5.67	35.7	149	266	327
Capital expenditures	-0.84	-2.97	-3.45	-5.06	-3.91	-2.49	-2.68	-3.45	-4.35	-5.09
Acquisitions	-4.49	-3.7	-1.99	-24.4	0	-120	0	-19.1	0	-36.8
Purchases of investments	-15				0	0	-270	-537	-550	-529
Sales and maturities of investments						0	0	271	435	597
Cash from investing	-20.3	8.33	-8.28	-29.2	-1.52	-127	-273	-288	-119	26.1
Debt issued				0	0	575	0	0
Stock issued	2.09	2.34	18.6	61.5	77.3	36.4	17.5	20.9	17.9	2.8
Share buybacks	-0.03	-0.34	0	0				0	0	-340
Cash from financing	59.8	3.43	282	58.5	77.3	602	17.5	40.1	40.9	-312
Exchange rate effect	-0.64	0.78	-0.9	0.32	6.03	-20.6	2.82	-4.41	-0.32	-1.41
Net change in cash	22.7	-8.28	249	-0.89	104	460	-217	-104	188	39.3
Free cash flow	-17	-23.8	-27.4	-35.6	18.6	3.19	33	145	262	322
Interest paid	0.02	0.01	0.01	0	0	13	24.1	25.1	24.2	24
Income taxes paid	1.44	3.19	3.07	3.5	-0.42	3.98	11.6	24.2	22	28

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to July 31, 2026; growth uses fiscal years. Valuation uses the share price of $88.12 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	75.5%	Gross profit / revenue.
Operating margin	-2.6%	Operating income / revenue.
EBITDA margin	-2.5%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-1.1%	Pre-tax income / revenue.
Net margin	20.8%	Net income / revenue.
FCF margin	19.4%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	19.6%	Cash from operations / revenue.
Return on equity (ROE)	29.0%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	12.5%	Net income / average total assets.
Return on invested capital (ROIC)	-3.8%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	25.3%	Research and development expense / revenue.
Stock-based pay / revenue	16.8%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	0.3%	Capital expenditures / revenue.
D&A / revenue	0.2%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	17.3%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	17.6%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	23.4%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	19.9%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	19.7%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	24.2%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	22.8%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	109.3%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	70.7%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	22.9%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	113.7%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	76.8%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	37.7%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	47.4%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	23.1%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	21.6%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	21.8%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	26.5%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	3.4%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	3.9%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	4.2%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.81x	Current assets / current liabilities.
Quick ratio	1.64x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.41x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.44x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	19.0%	Total debt / total assets.
Liabilities / assets	56.8%	Total liabilities / total assets.
Net debt	-$889.8M	Total debt - cash - short-term investments. Negative means more cash than debt.
Interest coverage	-1.90x	Operating income / interest expense.
Working capital	$840.4M	Current assets - current liabilities.
Goodwill and intangibles / assets	12.2%	(Goodwill + intangible assets) / total assets.
Tangible book value	$929.8M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.60x	Revenue / average total assets.
Fixed asset turnover	221x	Revenue / average property, plant and equipment.
Receivables turnover	7.62x	Revenue / average receivables.
Days sales outstanding	48 days	365 x average receivables / revenue.
Days payables	12 days	365 x average accounts payable / cost of revenue.
FCF conversion	92.9%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	1.4%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$3.59	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$17.22	Revenue / diluted weighted shares.
FCF per share	$3.34	Free cash flow / diluted weighted shares.
Operating cash flow per share	$3.38	Cash from operations / diluted weighted shares.
Book value per share	$12.34	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$8.85	Tangible book value / shares outstanding.
Cash per share	$13.90	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	108.9%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$9.16B	Share price x shares outstanding.
Enterprise value	$8.27B	Market cap + total debt - cash - short-term investments.
P/E	24.4x	Market cap / net income. Only when net income is positive.
P/S	5.08x	Market cap / revenue.
P/B	7.06x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	9.85x	Market cap / tangible book value, when positive.
P/FCF	26.2x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	25.9x	Market cap / cash from operations, when positive.
EV/Sales	4.59x	Enterprise value / revenue.
EV/FCF	23.7x	Enterprise value / free cash flow, when both are positive.
FCF yield	3.8%	Free cash flow / market cap.
Earnings yield	4.1%	Net income / market cap (the inverse of P/E).
Shareholder yield	4.1%	(Dividends paid + share buybacks) / market cap.

What was Elastic N.V.'s revenue in fiscal 2026?

Elastic N.V. reported revenue of $1.74B for fiscal 2026, 17.3% higher than the year before.

Was Elastic N.V. profitable in fiscal 2026?

Yes. Net income was $367.8M, a net margin of 21.1%.

How much free cash flow did Elastic N.V. generate in fiscal 2026?

Cash from operations of $326.9M minus capital expenditures of $5.1M left free cash flow of $321.8M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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