| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | — | 1 | — | — | — | — | — | — | — | — | — |
| Sell | 2 | — | 10 | 1 | — | 7 | — | — | 7 | — | 1 | 10 |
| total | individual payouts | |
|---|---|---|
| 2026 | ‡‡‡‡‡ |
|
| 2025 | ‡‡‡‡‡ |
|
| 2024 | ‡‡‡‡‡ |
|
| 2023 | ‡‡‡‡ |
|
| 2022 | ‡‡‡ |
|
| 2021 | ‡‡‡‡ |
|
| 2020 | ‡‡‡‡ |
|
| 2019 | ‡‡‡‡ |
|
| 2018 | ‡‡‡ |
|
| 2024 | 2025 | 2026 | Q'26 | |
|---|---|---|---|---|
| Cash | 1,087.09 | 1,400.93 | 1,372.04 | 1,463.01 |
| Receivables | 323.01 | 375.61 | 464.41 | 236.43 |
| Inventory | — | — | — | — |
| Other | — | — | — | — |
| 1,530.90 | 1,931.01 | 2,023.26 | 1,877.63 |
| 2024 | 2025 | 2026 | Q'26 | |
|---|---|---|---|---|
| Payables | 26.08 | 17.15 | 8.62 | 14.19 |
| ST’ Debt | — | — | — | — |
| Other | — | — | — | — |
| 871.09 | 1,008.26 | 1,204.92 | 1,037.19 |
| 10y | 5y | 3y | |
| Sales | — | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | — | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Earnings | — | ‡‡‡ | ‡‡‡ |
| Book Value | — | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Jul | Oct | Jan | Apr | Year | |
|---|---|---|---|---|---|
| ’26 | 478.11 | — | — | — |
—
|
| ’26 | 415.29 | 423.48 | 449.88 | 450.68 |
1,739.33
|
| ’25 | 347.42 | 365.36 | 382.08 | 388.43 |
1,483.30
|
| ’24 | 293.75 | 310.61 | 327.96 | 335.00 |
1,267.32
|
| ’23 | 250.08 | 264.40 | 274.57 | 279.94 |
1,068.99
|
| ’22 | 193.10 | 205.98 | 223.94 | 239.36 |
862.37
|
| ’21 | 128.87 | 144.89 | 157.12 | 177.61 |
608.49
|
| Jul | Oct | Jan | Apr | Year | |
|---|---|---|---|---|---|
| ’26 | 132.00 | — | — | — |
—
|
| ’26 | 104.84 | 26.61 | 42.74 | 152.71 |
326.89
|
| ’25 | 52.75 | 38.38 | 88.06 | 86.98 |
266.17
|
| ’24 | 37.81 | (2.39) | 52.39 | 60.95 |
148.76
|
| ’23 | (9.70) | 10.64 | 7.17 | 27.56 |
35.66
|
| ’22 | 14.05 | (10.38) | 5.05 | (3.05) |
5.67
|
| ’21 | 22.00 | (17.29) | 19.40 | (1.56) |
22.55
|
| Jul | Oct | Jan | Apr | Year | |
|---|---|---|---|---|---|
| ’26 | 131.41 | — | — | — |
—
|
| ’26 | 104.18 | 26.01 | 41.80 | 149.82 |
321.80
|
| ’25 | 52.01 | 37.66 | 87.29 | 84.86 |
261.82
|
| ’24 | 37.18 | (3.28) | 51.31 | 60.10 |
145.31
|
| ’23 | (10.18) | 10.30 | 6.97 | 25.89 |
32.98
|
| ’22 | 12.42 | (12.21) | 3.30 | (5.25) |
(1.74)
|
| ’21 | 21.62 | (18.57) | 18.33 | (3.06) |
18.32
|
| Jul | Oct | Jan | Apr | Year | |
|---|---|---|---|---|---|
| ’26 | (0.16) | — | — | — |
—
|
| ’26 | (0.23) | (0.48) | 0.07 | 4.14 |
3.43
|
| ’25 | (0.48) | (0.25) | (0.16) | (0.16) |
(1.04)
|
| ’24 | (0.50) | (0.25) | 1.69 | (0.41) |
0.59
|
| ’23 | (0.74) | (0.50) | (0.76) | (0.48) |
(2.47)
|
| ’22 | (0.38) | (0.51) | (0.61) | (0.70) |
(2.20)
|
| ’21 | (0.23) | (0.34) | (0.43) | (0.48) |
(1.48)
|
| 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| — | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 48.64 | 46.18 | 69.00 | 68.10 | 42.05 | — | — | — |
Low Price
|
| — | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 124.25 | 118.24 | 136.06 | 118.84 | 108.00 | — | — | — |
High Price
|
| — | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2,978 | 2,886 | 3,187 | 3,537 | 4,019 | — | — | — |
Employees
|
| ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.29 | 0.37 | 0.40 | 0.42 | 0.43 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 862.37 | 1,068.99 | 1,267.32 | 1,483.30 | 1,739.33 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 73.08% | 72.25% | 73.95% | 74.39% | 76.07% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (197.79) | (216.88) | (122.76) | (31.57) | (2.30) | ‡‡‡‡‡ | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | (22.94%) | (20.29%) | (9.69%) | (2.13%) | (0.13%) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (203.85) | (236.16) | 61.72 | (108.11) | 367.77 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 81.27 | 89.38 | 88.81 | 102.93 | 120.68 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 9.32 | 11.17 | 12.72 | 14.31 | 16.51 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (2.20) | (2.47) | 0.62 | (1.04) | 3.49 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.06 | 0.37 | 1.49 | 2.57 | 3.10 | ‡‡‡‡ | — | — |
Cash Flow/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.08) | (0.03) | (0.03) | (0.04) | (0.05) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | (0.02) | 0.34 | 1.46 | 2.53 | 3.06 | — | — | — |
Free CF/Sh
|
| ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 4.49 | 4.17 | 7.41 | 8.94 | 12.12 | ‡‡‡‡‡ | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 92.55 | 95.73 | 99.65 | 103.66 | 105.34 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Shares
|
| ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | 0.00 | 0.00 | 170.37 | 0.00 | 13.12 | ‡‡‡‡‡ | ‡‡‡‡ | — |
PE Ratio
|
| ‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 8.30 | 5.06 | 8.04 | 6.02 | 2.81 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PS Ratio
|
| ‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 17.24 | 13.55 | 13.80 | 9.64 | 3.83 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PB Ratio
|
| ‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 7.97 | 4.74 | 7.64 | 5.47 | 2.36 | ‡‡‡‡ | ‡‡‡ | ‡‡‡‡ |
EV/Sales
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (3,939.40) | 153.67 | 66.61 | 31.00 | 12.75 | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 5.67 | 35.66 | 148.76 | 266.17 | 326.89 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (7.42) | (2.68) | (3.45) | (4.34) | (5.09) | ‡‡‡‡‡ | — | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (1.74) | 32.98 | 145.31 | 261.82 | 321.80 | ‡‡‡‡‡ | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 570.38 | 557.66 | 659.81 | 922.75 | 818.34 | — | — | — |
Working Cap'
|
| — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | 577.52 | 580.54 | 568.61 | 569.73 | 570.90 | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (286.12) | (337.14) | (518.48) | (831.20) | (801.14) | — | — | — |
Net Debt
|
| ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 415.43 | 398.90 | 738.19 | 927.23 | 1,276.50 | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (15.58%) | (13.95%) | 3.10% | (4.47%) | 12.80% | ‡‡‡‡‡ | — | — |
ROA
|
| ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (83.94%) | (221.80%) | (36.95%) | (35.74%) | (4.40%) | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (47.06%) | (58.00%) | 10.86% | (12.98%) | 33.38% | ‡‡‡‡‡ | — | — |
ROE
|
Elastic N.V. (ESTC) trades at a compelling discount, with analyst targets implying 73% upside to the mean (93% to the high end), fueled by resilient revenue growth from $88 million in 2017 to $1.27 billion in 2024—a 1,337% surge—and projections of 13-17% YoY through 2028. Revenue per employee has doubled to $419,400, reflecting efficient scaling amid enterprise demand for search, observability, and security, positioning Elastic advantageously in AI-driven markets against rivals like Splunk and Datadog.
Profitability is advancing with gross margins at 72-74%, operating cash flow at $266 million, and free cash flow per share up over 1,000% to $2.53 in 2024, supported by a cash-rich balance sheet. Yet, forecasts predict net losses resuming in 2025, echoing SaaS volatility, while heavy insider selling—tens of millions in executive sales—contrasts bullish targets and raises execution flags.
At depressed multiples (EV/Sales ~5.5x), Elastic mirrors pre-profit MongoDB, with AI catalysts like vector search partnerships offering rerating potential, but macro slowdowns, competition, and profitability wobbles demand caution. Fundamentals scream value; the full analysis unpacks the path to conviction.
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