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Friday 6 November 2026
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C3.ai, Inc.
AI Technology Software Infrastructure
C3.ai, Inc.’s revenue for fiscal 2026 (year ended April 2026) was $250.3 million, down 35.7% from fiscal 2025.
- Revenue
- −25.5%
- EPS
- +30.2%
- Free cash flow
- +106.0%
Quarter to July 2026, against a year earlier
11.43
0.53
−4.43%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to April
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | TTM Jul ’26 | Trend | 10 yrs | 2027e | 2028e | 2029e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | 92 | 157 | 183 | 253 | 267 | 311 | 389 | 250 | 232 | +15.4% | 246 | 273 | 299 | +6.1% | |
| Gross margin, % | — | — | 66.83 | 75.24 | 75.70 | 74.79 | 67.64 | 57.49 | 60.62 | 30.92 | 29.09 | (35.9) pt | ||||||
| EBT | — | — | (33) | (69) | (55) | (191) | (268) | (279) | (288) | (470) | (446) | +46.1% | ||||||
| EBT margin, % | — | — | (36.11) | (44.04) | (30.01) | (75.68) | (100.51) | (89.80) | (73.95) | (187.62) | (191.81) | (151.5) pt | ||||||
| Net income | 0 | — | (33) | (69) | (56) | (192) | (269) | (280) | (289) | (470) | (446) | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | 3.62 | 4.38 | 2.74 | 2.42 | 2.43 | 2.60 | 3.01 | 1.78 | 1.50 | (9.6%) | |||||
| Earnings | — | — | (1.32) | (1.94) | (0.90) | (1.84) | (2.45) | (2.34) | (2.24) | (3.35) | (3.08) | +14.3% | ||||||
| Cash flow | — | — | (1.38) | (1.71) | (0.56) | (0.83) | (1.05) | (0.52) | (0.32) | (1.35) | (1.00) | (0.2%) | ||||||
| Capex | — | — | (0.27) | (0.08) | (0.02) | (0.04) | (0.65) | (0.23) | (0.02) | (0.01) | (0.01) | (34.7%) | ||||||
| Free cash flow | — | — | (1.65) | (1.79) | (0.59) | (0.87) | (1.70) | (0.76) | (0.34) | (1.37) | (1.00) | (2.6%) | ||||||
| Book value | — | — | 0.00 | (5.10) | 15.88 | 9.48 | 8.46 | 7.32 | 6.49 | 4.65 | 4.48 | n/m | ||||||
| Shares, m | — | — | 25 | 36 | 67 | 104 | 110 | 119 | 129 | 141 | 144 | +27.7% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | |||||
| P/S | — | — | 0.00 | 0.00 | 24.17 | 7.48 | 7.67 | 8.66 | 7.30 | 4.96 | 7.62 | 7.5 | ||||||
| P/B | — | — | 0.00 | 0.00 | 4.17 | 1.91 | 2.20 | 3.08 | 3.39 | 1.90 | 2.55 | 2.1 | ||||||
| EV/Sales | — | — | 0.00 | 0.00 | 18.21 | 3.69 | 4.93 | 6.24 | 5.39 | 2.66 | 4.82 | 5.1 | ||||||
| EV/FCF | — | — | (69.84) | (69.84) | (85.14) | (10.27) | (7.03) | (21.46) | (47.22) | (3.46) | (7.19) | (39.3) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | (35) | (61) | (38) | (86) | (116) | (62) | (41) | (190) | (155) | +27.4% | |||||
| Capex | — | — | (7) | (3) | (2) | (4) | (72) | (28) | (3) | (2) | (1) | (16.6%) | ||||||
| Free cash flow | — | — | (42) | (64) | (39) | (91) | (187) | (90) | (44) | (192) | (156) | +24.4% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | 122 | 200 | 1,049 | 910 | 753 | 802 | 772 | 601 | 645 | +25.6% | |||||
| Net debt | — | — | (157) | (245) | (1,093) | (960) | (731) | (750) | (743) | (575) | (651) | +20.4% | ||||||
| Shareholders’ equity | — | — | — | (183) | 1,061 | 989 | 930 | 873 | 838 | 654 | 695 | n/m | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | 0.00 | (45.48) | (7.42) | (16.23) | (23.65) | (26.12) | (27.97) | (51.07) | (48.43) | (51.1) pt | |||||
| ROIC | — | — | 0.00 | 0.00 | 0.00 | (418.12) | (91.38) | (161.78) | (212.06) | (397.90) | (673.03) | (397.9) pt | ||||||
| ROE | — | — | 19.16 | 39.91 | (12.68) | (18.73) | (28.02) | (31.03) | (33.73) | (63.05) | (59.77) | (82.2) pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | 574 | 704 | 914 | 891 | 1,181 | 764 | — | +5.9% | |||||
| Revenue/emp, $m | — | — | 0.00 | 0.00 | 0.32 | 0.36 | 0.29 | 0.35 | 0.33 | 0.33 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Apr 2026 · latest quarter Jul 2026
C3.ai, Inc. vs peers in Software Infrastructure (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| GCT GigaCloud Technology Inc. | $2.3B | 13.5× | 12.7× | +27.33% (above 0%: growing) | +42.42% (above 0%: growing) | −27.55% (below 0%: shrinking) | 24.85% | 13.94% | Compare |
| EVTC Evertec, Inc. | $2.0B | 21.8× | 19.4× | +23.80% (above 0%: growing) | +3.80% (above 0%: growing) | +29.34% (above 0%: growing) | 53.70% | 17.89% | Compare |
| CALX Calix, Inc | $2.0B | 44.9× | 41.4× | +13.67% (above 0%: growing) | −32.17% (below 0%: shrinking) | −87.16% (below 0%: shrinking) | 53.29% | 5.49% | Compare |
| MQ Marqeta, Inc. | $1.9B | 14.6× | 66.4× | +7.88% (above 0%: growing) | n/m | −77.59% (below 0%: shrinking) | 69.30% | 3.56% | Compare |
| AI C3.ai, Inc. | $1.8B | — (loss-making) | — (loss-making) | −25.46% (below 0%: shrinking) | n/m | +106.02% (above 0%: growing) | 31.83% | (187.62%) | |
| STNE StoneCo Ltd. | $1.8B | 3.0× | 3.0× | +14.89% (above 0%: growing) | −2.63% (below 0%: shrinking) | +2,108.82% (above 0%: growing) | 68.05% | 43.79% | Compare |
| PRGS Progress Software Corporation | $1.8B | 20.3× | 36.0× | −1.52% (below 0%: shrinking) | +22.22% (above 0%: growing) | +19.24% (above 0%: growing) | 82.74% | 18.92% | Compare |
| NYAX Nayax Ltd. | $1.7B | 214× | 179× | +28.25% (above 0%: growing) | n/m | −335.31% (below 0%: shrinking) | 46.86% | (5.42%) | Compare |
| INFQ Infleqtion, Inc. | $1.7B | — (loss-making) | — | — | n/m | +914.79% (above 0%: growing) | 16.01% | (220.55%) | Compare |
| Median of peers | $1.9B | 20.3× | 36.0× | +14.89% | +3.80% | −4.16% | 53.50% | 9.72% |