Income statement, balance sheet and cash flow statement for the last 3 fiscal years, taken from the XBRL data Navan, 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
FY2024
FY2026
FY2026
Revenue
402
537
702
Cost of revenue
163
170
202
Gross profit
240
367
500
Research and development
132
122
151
Selling and marketing
221
219
343
General and administrative
133
134
203
Operating expenses
486
475
697
Operating income
-246
-108
-197
Interest expense
63.3
76
51.3
Interest income
4.52
5.62
9.24
Other non-operating income
10.1
-0.07
17.3
Pre-tax income
-326
-172
-396
Income tax
5.43
9.57
2.11
Net income
-332
-181
-398
EBITDA
-219
-82.7
-137
EPS, basic
-7.44
-4.00
-4.07
EPS, diluted
-7.44
-4.00
-4.07
Shares, basic (weighted)
44.6
45.3
97.8
Shares, diluted (weighted)
44.6
45.3
97.8
Balance sheet
FY2024
FY2026
FY2026
Cash and equivalents
166
158
584
Short-term investments
0
157
Receivables
185
216
Other current assets
8.67
16.9
Total current assets
689
1,307
Property, plant and equipment
29.5
35
Lease right-of-use assets
48
43.4
Goodwill
221
220
241
Intangible assets
55.6
19.3
Long-term investments
328
Other non-current assets
21.2
28.6
Total assets
1,084
1,709
Accounts payable
42.8
65.9
Accrued liabilities
27.4
25.8
Deferred revenue
34.1
45.2
Total current liabilities
446
321
Lease liabilities
43.1
37.6
Other non-current liabilities
22.9
18
Total liabilities
970
501
Total debt
618
125
Paid-in capital
468
3,226
Retained earnings
-1,617
-2,015
Other comprehensive income
-37.6
-3.23
Shareholders' equity
-1,082
-1,187
1,208
Total equity
-1,082
-1,187
1,208
Total liabilities and equity
1,084
1,709
Shares outstanding
45.8
Cash flow statement
FY2024
FY2026
FY2026
Net income
-332
-181
-398
Depreciation and amortization
26.9
24.9
60.2
Stock-based compensation
75.9
77
182
Deferred income tax
-3.22
0
-11.3
Change in receivables
-21.1
-24.6
-26
Change in payables
-9.63
17.1
3.08
Cash from operations
-166
-50.4
33.7
Capital expenditures
-0.56
-0.99
-0.92
Acquisitions
-7.03
-3.88
0
Purchases of investments
0
0
-156
Cash from investing
-109
44.9
-203
Debt issued
206
86.2
216
Stock issued
9.06
4.54
23.9
Cash from financing
213
52.6
520
Exchange rate effect
-0.41
-3.81
6.92
Net change in cash
-62.9
43.2
357
Free cash flow
-167
-51.4
32.8
Interest paid
18.6
29.5
25.6
Income taxes paid
6.37
8.54
17.2
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 $19.42 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
72.5%
Gross profit / revenue.
Operating margin
-25.7%
Operating income / revenue.
EBITDA margin
-18.5%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-42.4%
Pre-tax income / revenue.
Net margin
-42.1%
Net income / revenue.
FCF margin
5.5%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
5.7%
Cash from operations / revenue.
Return on equity (ROE)
-26.4%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-19.2%
Net income / average total assets.
Return on invested capital (ROIC)
-25.3%
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
21.0%
Research and development expense / revenue.
Stock-based pay / revenue
27.3%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
0.2%
Capital expenditures / revenue.
D&A / revenue
7.2%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
30.8%
Revenue vs the same period a year earlier. Only from a positive base.
Gross profit growth, 1y
36.4%
Gross profit vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
57.6%
Total assets vs the same period a year earlier. Only from a positive base.
Share count change, 1y
116.0%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
4.38x
Current assets / current liabilities.
Quick ratio
3.22x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
2.55x
(Cash + short-term investments) / current liabilities.
Capital expenditures / cash from operations, when that is positive.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$1.36
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
$3.22
Revenue / diluted weighted shares.
FCF per share
$0.18
Free cash flow / diluted weighted shares.
Operating cash flow per share
$0.18
Cash from operations / diluted weighted shares.
Book value per share
$5.13
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
5.98x
Market cap / revenue.
P/B
3.75x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
4.65x
Market cap / tangible book value, when positive.
P/FCF
108x
Market cap / free cash flow. Only when free cash flow is positive.
P/OCF
104x
Market cap / cash from operations, when positive.
EV/Sales
4.99x
Enterprise value / revenue.
EV/FCF
90.5x
Enterprise value / free cash flow, when both are positive.
FCF yield
0.9%
Free cash flow / market cap.
Earnings yield
-7.0%
Net income / market cap (the inverse of P/E).
What was Navan, Inc.'s revenue in fiscal 2026?
Navan, Inc. reported revenue of $702.3M for fiscal 2026, 30.8% higher than the year before.
Was Navan, Inc. profitable in fiscal 2026?
No. It reported a net loss of $398.0M.
How much free cash flow did Navan, Inc. generate in fiscal 2026?
Cash from operations of $33.7M minus capital expenditures of $917.0K left free cash flow of $32.8M.
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.