Duolingo, Inc.

DUOL Technology Software Application

Duolingo, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.0 billion, up 38.7% from fiscal 2024.

Revenue
+13.7%
EPS
−90.9%
Free cash flow
+15.6%
Total debt
−9.69%

Quarter to September 2026, against a year earlier

157.17 4.10 −2.54%
Market cap
$7.4B
P/E
50.7×
Fwd P/E
48.1×
Dividend yield
—
F-score
3/9
Altman Z
8.95
Beneish M
−1.63
Dividend safety
n/a

Duolingo, Inc. (DUOL) Free cash flow margin

Alert me on Free cash flow margin

Duolingo, Inc.'s free cash flow margin over the twelve months to 30 September 2026 was 36.9%, up 2.1 percentage points from fiscal 2025 (34.7%). Over the past ten years it has ranged from −4.37% (fiscal 2019) to 35.3% (fiscal 2024); the current reading is higher than 86% of that period. That is above the Software Application industry median of 5.77% and above the Technology sector median of 0.67%.

Free cash flow margin, annual

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Annual newest first

Period Free cash flow margin Change (points)
FY2025 34.7% (0.60)
FY2024 35.3% 8.97
FY2023 26.4% 14.59
FY2022 11.8% 10.60
FY2021 1.18% (7.29)
FY2020 8.47% 12.84
FY2019 −4.37% —

Against its own ten years

Low −4.37% High 35.3%
Ten-year median 11.8%
Current reading's percentile 86

Free cash flow margin against peers

Company Free cash flow margin
YOU CLEAR Secure, Inc. compare 43.0%
DUOL Duolingo, Inc. 36.9%
IDCC InterDigital, Inc. compare 30.8%
APPF AppFolio, Inc. compare 25.5%
CVLT CommVault Systems, Inc. compare 20.4%
LYFT Lyft, Inc. compare 17.3%
TTAN ServiceTitan Inc. compare 10.7%
NAVN Navan, Inc. compare 3.43%
YMM Full Truck Alliance Co. Ltd. Sponsored ADR compare 0.00%
Software Application industry median 5.77%
Technology sector median 0.67%
Market median 0.00%

What Free cash flow margin is

Free Cash Flow Margin tells an investor how much of each sale turns into cash the company keeps after paying for investment in its assets.

(Operating Cash Flow + Property, Plant, Equipment Change (Net) + Intangible Assets Change (Net)) ÷ Revenue

The full definition of Free cash flow margin →

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