Guidewire Software, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Guidewire Software, Inc. 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	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	510	653	720	742	743	813	905	980	1,202	1,475
Cost of revenue	192	297	324	338	354	435	447	397	450	528
Gross profit	318	356	395	404	390	377	458	583	752	947
Research and development	130	172	189	201	201	229	250	269	296	340
Selling and marketing	109	124	131	142	151	183	188	199	230	259
General and administrative	56.6	75.9	74.4	85.2	143	165	170	168	184	198
Operating expenses	296	372	394	428	495	577	608	636	711	797
Operating income	21.9	-15.6	1.47	-23.9	-106	-199	-149	-52.6	41.1	150
Interest expense	0.01	6.44	17.3	17.9	18.7	19.4	6.72	6.74	13.2	13.3
Other non-operating income	0.81	0.51	-1.87	-7.21	12.6	-17.1	-2.28	-11	-35.1	-21
Pre-tax income	28.5	-8.28	12.5	-24.3	-104	-230	-134	-26.8	49.4	164
Income tax	10.5	18.5	-8.28	2.87	-37.8	-49.3	-22.2	-20.7	-20.4	24.8
Net income	18.1	-26.7	20.7	-27.2	-66.5	-180	-112	-6.1	69.8	139
EBITDA	40.6	20	41.4	18.8	-68.6	-166	-125	-30.3	64.8	178
EPS, basic	0.24	-0.34	0.25	-0.33	-0.79	-2.16	-1.36	-0.07	0.83	1.65
EPS, diluted	0.24	-0.34	0.25	-0.33	-0.79	-2.16	-1.36	-0.07	0.81	1.63
Shares, basic (weighted)	74	77.7	81.4	82.9	83.6	83.6	82.2	82.3	83.8	84.2
Shares, diluted (weighted)	75.3	77.7	82.7	82.9	83.6	83.6	82.2	82.3	85.9	85.4

Balance sheet

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	263	437	254	367	385	606	402	548	698	373
Short-term investments	310	630	870	767	735	370	397	456	452	380
Receivables	79.4	125	138	114	104	144	151	137	141	194
Other current assets	26.6	30.5	35.6	46	52.7	61.2	62.1	67.6	86.4	99.4
Total current assets	679	1,222	1,335	1,343	1,355	1,253	1,100	1,296	1,507	1,187
Property, plant and equipment	14.4	18.6	65.8	65.2	80.1	80.7	54.5	55.4	60.4	67.8
Lease right-of-use assets				104	97.4	90.3	52.4	43.8	39.3	34.4
Goodwill	142	341	341	341	341	372	372	372	394	423
Intangible assets	71.3	95.7	66.5	39.7	19.7	21.4	14.5	9.01	12	16.4
Long-term investments	115	191	214	301	227	188	129	126	334	462
Other non-current assets	20.1	22.5	45.6	34.9	38.5	56.7	68	67.3	76.3	99.3
Total assets	1,079	1,981	2,167	2,365	2,322	2,267	2,028	2,226	2,721	2,577
Accounts payable	13.4	30.6	34.3	22.6	27.8	40.4	34.6	15.2	28.8	38.1
Accrued liabilities	48.9	60.1	16.3	25.7	31.6	91	104	109	141	146
Deferred revenue	96	127	108	118	139	171	207	282	340	437
Total current liabilities	168	238	232	225	300	338	373	838	545	664
Long-term debt							397	0	675	678
Lease liabilities				119	115	105	43	34.7	30.7	25.2
Other non-current liabilities	2.11	0.77	19.6	18.6	10.2	6.88	9.03	7.58	9.28	13.8
Total liabilities	190	568	593	708	777	815	828	884	1,264	1,383
Total debt		305	317	330	344	358	397	399
Paid-in capital	828	1,296	1,392	1,499	1,617	-1,755	1,831	1,979	2,020	2,230
Retained earnings	65.9	125	190	163	-66.1	-284	-618	-624	-554	-1,024
Other comprehensive income	-5.8	-7.75	-7.76	-5.25	-6.22	-19.8	-13.9	-12.2	-8.92	-12.2
Shareholders' equity	889	1,414	1,574	1,657	1,545	1,452	1,199	1,343	1,457	1,194
Total equity	889	1,414	1,574	1,657	1,545	1,452	1,199	1,343	1,457	1,194
Total liabilities and equity	1,079	1,981	2,167	2,365	2,322	2,267	2,028	2,226	2,721	2,577
Shares outstanding	75	80.6	82.1	83.5	83.2	84.1	81.4	83	84.5	82

Cash flow statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	18.1	-26.7	20.7	-27.2	-66.5	-180	-112	-6.1	69.8	139
Depreciation and amortization	18.7	35.6	40	42.6	37	33.5	24.8	22.3	23.8	28
Stock-based compensation	71.8	89.6	91.5	102	115	137	143	146	162	182
Deferred income tax	-1.31	14	-13.5	-11.9	-35.8	-53.1	-27.3	-26.7	-29.7	13.5
Change in receivables	-9.75	-40.8	-15.1	23.9	10.8	-42.5	-7.3	12.6	-3.35	-54.9
Cash from operations	139	140	116	113	112	-37.9	38.4	196	301	390
Capital expenditures	-5.89	-9.4	-44.9	-21.4	-19	-9.51	-5.82	-6.36	-5.74	-12.1
Acquisitions	-188	-130	0	0	0	-43.8	0	0	-26.9	-38
Purchases of investments	-4.68	0	0	-2.16	-2.38	-520	-506	-616	-859	-859
Sales and maturities of investments		390	880	1,169	1,005	834	547	577	665	806
Cash from investing	-113	-538	-301	-5.8	64.2	312	12.7	-52.4	-237	-136
Stock issued	0	221	0	0	1.93	0.12	0.23	1.06	3.9	0.73
Share buybacks			0	0	-161	-37.5	-262	0	0	-606
Cash from financing	13	573	3.95	4.96	-159	-37.3	-262	1.06	82.3	-579
Exchange rate effect	1.15	-1.91	-1.69	0.65	1.55	-7.16	2.58	-2.05	3.72	-0.97
Net change in cash	39.6	174	-183	113	17.9	230	-208	142	150	-326
Free cash flow	133	131	71.2	91.7	92.6	-47.5	32.6	189	295	378
Interest paid	0	0	5.04	5	5	5	5	5	11.8	9.3
Income taxes paid	3.7	4.74	4.56	4.89	4.16	4.32	5.17	8.92	7.56	13.2

Key metrics

Worked out from the statements above. Latest values use fiscal 2026. Valuation uses the share price of $145.56 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	64.2%	Gross profit / revenue.
Operating margin	10.2%	Operating income / revenue.
EBITDA margin	12.1%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	11.1%	Pre-tax income / revenue.
Net margin	9.4%	Net income / revenue.
FCF margin	25.6%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	26.4%	Cash from operations / revenue.
Effective tax rate	15.1%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	10.5%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	5.3%	Net income / average total assets.
Return on invested capital (ROIC)	16.1%	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	23.1%	Research and development expense / revenue.
Stock-based pay / revenue	12.3%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	0.8%	Capital expenditures / revenue.
D&A / revenue	1.9%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	22.7%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	17.7%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	14.7%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	26.0%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	27.4%	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	19.5%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	264.9%	Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y	174.3%	EBITDA vs the same period a year earlier. Only from a positive base.
Net income growth, 1y	99.5%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	101.2%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	29.5%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	116.5%	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	28.4%	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	28.0%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	126.3%	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	32.5%	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	-18.1%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-0.2%	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	-5.0%	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	-5.3%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	8.3%	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	2.1%	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	-0.6%	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	1.3%	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	0.4%	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	1.79x	Current assets / current liabilities.
Quick ratio	1.42x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.13x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	53.7%	Total liabilities / total assets.
Interest coverage	11.2x	Operating income / interest expense.
Working capital	$522.5M	Current assets - current liabilities.
Goodwill and intangibles / assets	17.1%	(Goodwill + intangible assets) / total assets.
Tangible book value	$754.0M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.56x	Revenue / average total assets.
Fixed asset turnover	23.0x	Revenue / average property, plant and equipment.
Receivables turnover	8.83x	Revenue / average receivables.
Days sales outstanding	41 days	365 x average receivables / revenue.
Days payables	23 days	365 x average accounts payable / cost of revenue.
FCF conversion	271.1%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	3.1%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$1.63	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.
EPS, basic	$1.65	Net income per basic share, as reported (split-adjusted).
Revenue per share	$17.27	Revenue / diluted weighted shares.
FCF per share	$4.42	Free cash flow / diluted weighted shares.
Operating cash flow per share	$4.56	Cash from operations / diluted weighted shares.
Book value per share	$14.56	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$9.20	Tangible book value / shares outstanding.
Cash per share	$9.18	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	160.5%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$12.12B	Share price x shares outstanding.
Enterprise value	$11.37B	Market cap + total debt - cash - short-term investments.
P/E	87.0x	Market cap / net income. Only when net income is positive.
P/S	8.21x	Market cap / revenue.
P/B	10.2x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	16.1x	Market cap / tangible book value, when positive.
P/FCF	32.1x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	31.1x	Market cap / cash from operations, when positive.
EV/Sales	7.70x	Enterprise value / revenue.
EV/EBIT	75.8x	Enterprise value / operating income, when both are positive.
EV/EBITDA	63.9x	Enterprise value / EBITDA, when both are positive.
EV/FCF	30.1x	Enterprise value / free cash flow, when both are positive.
FCF yield	3.1%	Free cash flow / market cap.
Earnings yield	1.1%	Net income / market cap (the inverse of P/E).
Shareholder yield	5.0%	(Dividends paid + share buybacks) / market cap.

What was Guidewire Software, Inc.'s revenue in fiscal 2026?

Guidewire Software, Inc. reported revenue of $1.48B for fiscal 2026, 22.7% higher than the year before.

Was Guidewire Software, Inc. profitable in fiscal 2026?

Yes. Net income was $139.3M, a net margin of 9.4%.

How much free cash flow did Guidewire Software, Inc. generate in fiscal 2026?

Cash from operations of $389.7M minus capital expenditures of $12.1M left free cash flow of $377.7M.

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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