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Freshworks Inc.

FRSH Technology Software Application

Freshworks Inc.’s revenue for fiscal 2025 (year ended December 2025) was $838.8 million, up 16.4% from fiscal 2024.

Revenue
+14.1%
EPS
+449.0%
Free cash flow
+27.0%

Quarter to September 2026, against a year earlier

12.70 0.56 −4.22%
Market cap
$3.3B
P/E
17.2×
Fwd P/E
113×
Dividend yield
—
F-score
8/9
Altman Z
1.65
Beneish M
−2.32
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.99
Sold, $m 1.56
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — 1 — — — — — — — —
Sell 2 1 — 1 — — 1 3 — 1 1 —
Insider Ownership 25.94%

Capital & Financial Ratios $m

Size
Market Cap 3,330.00
Revenue ttm 934.18
Net income ttm 208.17
Free cash flow ttm 236.16
Net debt Q (697.33)
Valuation
P/E 17.17
Forward P/E 113.00 (above 35: high)
Price / sales 3.56
Forward P/S Powerpack
Price / FCF 14.09
Price / book 3.64
Financial health
Current ratio Q 1.77 (at or above 1.5: strong)
Debt / equity Q 0.00 (at or below 0.5: strong)
Interest coverage Q (3.16)
Growth
Revenue growth Q +14.09% (above 0%: growing)
Operating income growth Q +478.48% (above 0%: growing)
EPS, this year +6.76%
EPS, next year A +23.27% (at or above 15%: strong)
Revenue, next year A +15.04% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +14.96%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.8×, against a ten-year median of 5.5×; over the ten years it ranged from 1.7× in 2026 to 10.3× in 2021.
P/S against its own 10 years 10.02%
10-year low 10-year high
P/B against its own 10 years 37.31%
10-year low 10-year high
EV/Sales against its own 10 years 11.19%
10-year low 10-year high
EV/FCF against its own 10 years 13.45%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 1,188 1,070 844 697
Receivables 97 123 151 137
Inventory — — — —
Other — — — —
1,356 1,265 1,097 926
2023 2024 2025 Q'26
Payables 3 2 12 19
ST’ Debt — — — —
Other — — — —
327 408 498 522

Compound Annual Growth %

10y 5y 3y
Sales — 27.43% 18.98%
Cash Flow — 49.43% 0.00%
Earnings — 0.00% 0.00%
Book Value — 39.09% (0.61%)

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.18 Actual 0.22

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.11 0.14 Beat by 0.03
Q1 FY26 0.11 0.11 Met by 0.00
Q2 FY26 0.13 0.17 Beat by 0.04
Q3 FY26 0.18 0.22 Beat by 0.04
Q4 FY26 0.20 — Reports 9 February 2027

EPS $

Mar Jun Sep Dec Year
’26 (0.02) 0.01 0.07 — —
’25 0.00 (0.01) (0.02) 0.67 0.63
’24 (0.08) (0.07) (0.10) (0.07) (0.32)
’23 (0.15) (0.12) (0.11) (0.09) (0.47)
’22 (0.18) (0.24) (0.20) (0.19) (0.82)
’21 (0.01) (0.10) (24.72) (0.28) (21.73)
’20 — (0.37) 0.02 (5.14) (21.03)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 229 237 245 — —
’25 196 205 215 223 839
’24 165 174 187 195 720
’23 138 145 154 160 596
’22 115 121 129 133 498
’21 81 88 97 105 371
’20 — 56 66 73 250
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 62 59 78 — —
’25 58 59 63 62 242
’24 41 36 42 41 161
’23 12 20 24 31 86
’22 1 (7) (4) 7 (3)
’21 8 1 (2) 5 11
’20 — 6 13 13 33
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 55 52 73 — —
’25 54 54 57 56 221
’24 39 33 40 35 146
’23 9 18 22 29 78
’22 (1) (10) (7) 4 (15)
’21 5 (1) (4) 3 3
’20 — 0 10 12 22
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue — — — 172 250 371 498 596 720 839 934 +30.2% 965 1,102 1,272 +14.9%
Gross margin, % — — — 78.85 78.97 78.97 80.77 82.67 84.27 84.96 85.13 +6.1 pt
EBT — — — (27) (53) (181) (221) (124) (91) 53 83 n/m
EBT margin, % — — — (15.95) (21.34) (48.91) (44.34) (20.75) (12.61) 6.35 8.89 +22.3 pt
Net income — 0 — (31) (57) (192) (232) (137) (95) 184 208 n/m
Per share, $
Per share, $ Revenue — — — 2.27 3.24 2.84 1.75 2.04 2.39 2.88 3.57 +4.1%
Earnings — — — (8.21) (21.03) (21.73) (0.82) (0.47) (0.32) 0.63 0.74 n/m
Cash flow — — — (0.11) 0.42 0.09 (0.01) 0.29 0.53 0.83 1.00 n/m
Capex — — — (0.19) (0.14) (0.06) (0.04) (0.03) (0.05) (0.07) (0.09) (15.0%)
Free cash flow — — — (0.30) 0.28 0.02 (0.05) 0.27 0.49 0.76 0.90 n/m
Book value — — — 2.79 2.58 9.48 3.70 3.66 3.78 3.55 3.49 +4.1%
Shares, m — — — 76 77 131 285 293 301 291 277 +25.1%
Valuation, ×
Valuation, × P/E — — — 0.00 0.00 0.00 0.00 0.00 0.00 18.85 17.17 2.7
P/S — — — 12.00 12.00 9.25 8.47 10.85 6.75 4.25 3.56 9.1
P/B — — — 0.00 0.00 2.77 4.01 6.04 4.28 3.45 3.64 2.9
EV/Sales — — — 11.22 11.22 5.68 6.17 8.86 5.27 3.25 2.81 7.4
EV/FCF — — — 130.72 130.72 711.23 (210.00) 67.79 25.94 12.32 11.13 124.1
Cash, $m
Cash, $m Operating cash flow — — — (8) 33 11 (3) 86 161 242 261 n/m
Capex — — — (15) (11) (8) (12) (8) (14) (21) (25) +6.3%
Free cash flow — — — (23) 22 3 (15) 78 146 221 236 n/m
Balance, $m
Balance, $m Working capital — — — 178 160 1,198 1,005 1,028 858 599 403 +22.4%
Net debt — — — (223) (238) (1,324) (1,147) (1,188) (1,070) (844) (697) +24.8%
Shareholders’ equity — — — 212 198 1,238 1,052 1,072 1,138 1,033 914 +30.2%
Returns, %
Returns, % ROA — — — (388.19) (469.48) (306.84) (16.22) (9.69) (6.22) 11.43 14.51 +399.6 pt
ROIC — — — 0.00 0.00 0.00 0.00 0.00 (127.67) 4.37 18.99 +4.4 pt
ROE — — — 32.70 84.71 389.20 (20.27) (12.94) (8.63) 16.93 23.58 (15.8) pt
People
People Employees — — — — 4,300 4,600 5,400 4,900 4,400 4,500 — +0.9%
Revenue/emp, $m — — — 0.00 0.06 0.08 0.09 0.12 0.16 0.19 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Freshworks Inc. vs peers in Software Application (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
MNDY monday.com Ltd. $4.1B 39.3× 65.0× +21.94% (above 0%: growing) +166.67% (above 0%: growing) −15.94% (below 0%: shrinking) 88.30% (0.42%) Compare
LIF Life360, Inc. $3.9B 25.0× 30.7× +37.77% (above 0%: growing) −33.33% (below 0%: shrinking) +115.99% (above 0%: growing) 79.83% (0.04%) Compare
FRSH Freshworks Inc. $3.7B 17.2× 113× +14.09% (above 0%: growing) n/m +35.69% (above 0%: growing) 85.33% 11.50%
NATL NCR Atleos Corporation $3.5B 13.0× 9.3× −1.96% (below 0%: shrinking) +275.03% (above 0%: growing) +111.11% (above 0%: growing) 25.75% 16.65% Compare
AGYS Agilysys, Inc. $3.5B 75.8× 66.4× +17.73% (above 0%: growing) +11.48% (above 0%: growing) −1.19% (below 0%: shrinking) 64.60% 16.33% Compare
INTA Intapp, Inc. $3.5B — (loss-making) — (loss-making) +15.99% (above 0%: growing) n/m +138.52% (above 0%: growing) 77.89% (0.66%) Compare
FSLY Fastly, Inc. $3.4B — (loss-making) — (loss-making) +20.21% (above 0%: growing) n/m +120.03% (above 0%: growing) 63.31% (5.93%) Compare
ALRM Alarm.com Holdings, Inc. $3.3B 28.1× 30.7× +8.99% (above 0%: growing) −1.41% (below 0%: shrinking) +106.10% (above 0%: growing) 65.56% 11.70% Compare
VIA Via Transportation Inc. $3.2B — (loss-making) — (loss-making) +26.67% (above 0%: growing) n/m +28.02% (above 0%: growing) 40.98% (16.03%) Compare
Median of peers $3.5B 28.1× 30.7× +18.97% +11.48% +108.61% 65.08% (0.23%)

All 230 Software Application stocks →

Pay and ownership Proxy statement filed 9 April 2026

Ownership

Directors and executive officers, together 26.81% of the votes
Sameer Gandhi 23.74% of the votes
Entities affiliated with Accel funds 23.57% of the votes
Rathna Girish Mathrubootham 18.46% of the votes
Entities affiliated with CapitalG LP 16.69% of the votes
Entities affiliated with WestBridge Crossover Fund, LLC 5.92% of the votes
Entities affiliated with BlackRock, Inc. 4.82% of the votes
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Freshworks Inc. (FRSH) Latest News

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Impact 3 · · StockStory

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Impact 4 · · PR Newswire
Impact 3 · · Investing.com

28 Aug

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13 Aug

Impact 4 · · MarketBeat

12 Aug

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11 Aug

Impact 3 · · The Motley Fool transcript

6 Aug

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5 Aug

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FRSH metrics, ten years each

stockrow.com/FRSH · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com