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HubSpot, Inc.

HUBS Technology Software Application

HubSpot, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $3.1 billion, up 19.2% from fiscal 2024. In the quarter to June 2026, revenue grew 19.8%, EPS grew 1,533.3% and free cash flow grew 44.8%, each against the same quarter a year earlier. Revenue growth for ten consecutive years, operating cash flow growth for five; insiders bought in the last twelve months.

235.14 4.43 −1.85%
Market cap
$12.0B
P/E
83.1×
Fwd P/E
72.8×
Dividend yield
—
F-score
6/9
Altman Z
7.91
Beneish M
−3.04
Dividend safety
n/a
Overview Business Profile Financial Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions trades per month

Total buys 2.79
Total sells 27.22
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — 3 — — 1 — —
Sell 2 1 1 2 1 1 2 1 1 2 1 1
Insider Ownership 5.26%

Capital & Financial Ratios $m

Market Cap 11,950.00
Revenue 3,449.00
Net Income 146.85
Free Cash Flow 657.89
Net Debt (1,337.94)
Current Ratio 1.38
Debt/Equity 0.00 (at or below 0.5: strong)
P/E ratio 83.09 (above 35: high)
Fwd P/E 72.80 (above 35: high)
P/S ratio 3.45
P/B ratio 7.18 (above 6: high)
Past 5Y EPS Growth —
This Y EPS Growth 37.15% (at or above 15%: strong)
Next Y EPS Growth 26.78% (at or above 15%: strong)
Next Y revenue growth 17.62% (at or above 10%: strong)
Next 5Y EPS Growth 27.60% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.2×, against a ten-year median of 10.3×; over the ten years it ranged from 2.4× in 2026 to 31.5× in 2021.
P/S against its own 10 years 3.27%
10-year low 10-year high
P/B against its own 10 years 5.80%
10-year low 10-year high
EV/Sales against its own 10 years 3.64%
10-year low 10-year high
EV/FCF against its own 10 years 3.79%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2025 Powerpack
2024 Powerpack
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 Powerpack
2019 Powerpack
2017 Powerpack
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 1,388 2,069 1,704 1,338
Receivables 295 335 419 378
Inventory — — — —
Other — — — —
1,872 2,634 2,450 2,127
2023 2024 2025 Q'26
Payables 9 4 25 26
ST’ Debt — — — —
Other — — — —
942 1,573 1,467 1,544

Compound Annual Growth %

10y 5y 3y
Sales 32.92% 28.81% 21.85%
Cash Flow 0.00% 53.62% 40.69%
Earnings 0.00% 0.00% 0.00%
Book Value 32.74% 22.06% 27.70%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 3.02 Actual 3.26

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 2.58 2.66 Beat by 0.08
Q4 FY25 2.99 3.09 Beat by 0.10
Q1 FY26 2.47 2.72 Beat by 0.25
Q2 FY26 3.02 3.26 Beat by 0.24
Q3 FY26 3.28 — Reports 4 November 2026

EPS $

Mar Jun Sep Dec Year
’26 0.62 0.86 — — —
’25 (0.42) (0.06) 0.31 1.04 0.86
’24 0.12 (0.28) 0.16 0.09 0.09
’23 (0.78) (2.39) (0.07) (0.27) (3.30)
’22 (0.20) (1.18) (0.65) (0.20) (2.35)
’21 (0.50) (0.53) (0.29) (0.35) (1.66)
’20 (0.41) (0.67) (0.49) (0.34) (1.90)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 881 912 — — —
’25 714 761 810 847 3,131
’24 617 637 670 703 2,628
’23 502 529 558 582 2,170
’22 396 422 444 470 1,731
’21 281 311 339 369 1,301
’20 199 204 228 252 883
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 199 223 — — —
’25 162 164 187 247 761
’24 127 118 160 194 599
’23 81 77 89 104 351
’22 82 41 60 90 273
’21 63 38 43 95 239
’20 23 (34) 39 61 89
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 149 163 — — —
’25 118 113 142 204 577
’24 100 88 125 157 470
’23 63 49 61 78 251
’22 63 12 36 71 181
’21 51 22 27 76 177
’20 7 (48) 25 45 30
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.4
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 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Price, $
Price, $ Low 27.00 46.80 85.66 117.77 90.84 347.78 245.03 267.99 434.84 344.41 +32.7% ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
High 59.97 93.53 162.20 207.98 420.61 866.00 659.24 593.53 762.47 881.13 +34.8% ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
People
People Employees 1,597 2,081 2,638 3,387 4,225 5,895 7,433 7,663 8,246 8,882 +21.0% ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
Revenue/emp, $m 0.17 0.18 0.19 0.20 0.21 0.22 0.23 0.28 0.32 0.35 +8.5% ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
Income, $m
Income, $m Revenue 271 376 513 675 883 1,301 1,731 2,170 2,628 3,131 +31.2% 3,683 4,197 4,768 +15.0%
Gross margin, % 77.17 79.84 80.44 80.74 81.09 80.10 82.21 84.41 85.03 83.76 +6.6 pt
EBT (45) (50) (62) (51) (81) (74) (98) (151) 29 69 n/m
EBT margin, % (16.62) (13.32) (12.08) (7.52) (9.15) (5.68) (5.69) (6.94) 1.09 2.22 +18.8 pt
Net income (46) (40) (64) (54) (85) (78) (107) (165) 5 46 n/m
Depreciation 12 27 37 36 58 73 51 32 47 96 +26.3%
Per share, $
Per share, $ Revenue 7.70 10.20 13.31 16.06 19.73 27.74 36.01 43.51 51.34 59.69 +25.6%
Earnings (1.29) (1.08) (1.66) (1.28) (1.90) (1.66) (2.35) (3.53) 0.09 0.88 n/m
Cash flow 0.55 1.35 2.20 2.83 1.99 5.09 5.68 7.04 11.70 14.50 +43.8%
Capex (0.61) (0.74) (0.87) (1.28) (1.32) (1.32) (1.91) (2.01) (2.52) (3.51) +21.4%
Free cash flow (0.06) 0.60 1.33 1.55 0.67 3.77 3.77 5.03 9.18 10.99 n/m
Book value 3.37 5.71 6.35 15.47 17.04 18.63 20.64 26.75 37.29 39.39 +31.4%
Shares, m 35 37 39 42 45 47 48 50 51 52 +4.5%
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 6,967.70 461.26 742.9
P/S 6.22 8.77 9.44 9.87 20.09 23.76 8.05 12.59 13.57 6.72 11.9
P/B 14.19 15.66 19.80 10.25 23.27 35.37 14.04 20.48 18.69 10.19 18.2
EV/Sales 5.79 8.21 8.90 8.95 19.21 23.14 7.50 12.16 12.96 6.32 11.3
EV/FCF (642.88) 140.18 89.33 93.13 569.81 170.41 71.53 109.65 72.50 34.41 70.8
Cash, $m
Cash, $m Operating cash flow 19 50 85 119 89 239 273 351 599 761 +50.4%
Capex (22) (27) (33) (54) (59) (62) (92) (100) (129) (184) +26.9%
Free cash flow (2) 22 51 65 30 177 181 251 470 577 n/m
Balance, $m
Balance, $m Working capital 49 424 475 787 1,011 836 993 930 1,060 982 +39.6%
Total debt 0 298 319 341 471 383 454 456 — — n/m
Net debt (115) (211) (279) (621) (780) (815) (958) (932) (2,069) (1,704) +35.0%
Shareholders’ equity 119 210 245 650 763 874 992 1,334 1,908 2,066 +37.4%
Returns, %
Returns, % ROA (18.98) (8.17) (8.26) (4.47) (4.80) (3.75) (4.55) (5.86) 0.13 1.20 +20.2 pt
ROIC (666.52) 0.00 0.00 (101.21) 0.00 (58.12) (190.39) (31.21) 0.00 1.27 +667.8 pt
ROE (37.90) (24.14) (28.06) (12.02) (12.04) (9.51) (11.51) (14.14) 0.29 2.31 +40.2 pt
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 25 Oct 2026

HubSpot, 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
GWRE Guidewire Software, Inc. $13.1B 98.0× 86.0× +15.29% (above 0%: growing) −38.71% (below 0%: shrinking) +16.42% (above 0%: growing) 65.60% 15.16% Compare
FROG JFrog Ltd. $12.2B — (loss-making) — (loss-making) +28.73% (above 0%: growing) n/m +51.58% (above 0%: growing) 77.93% (8.09%) Compare
BSY Bentley Systems, Incorporated $12.0B 43.9× 37.9× +12.80% (above 0%: growing) +13.64% (above 0%: growing) +11.94% (above 0%: growing) 81.99% 21.57% Compare
HUBS HubSpot, Inc. $12.0B 83.1× 72.8× +19.83% (above 0%: growing) n/m +44.84% (above 0%: growing) 82.35% 4.75%
FIG Figma, Inc. $11.9B — (loss-making) — (loss-making) +48.25% (above 0%: growing) n/m −16.79% (below 0%: shrinking) 83.66% (31.69%) Compare
PAYC Paycom Software, Inc. $11.5B 27.8× 25.7× +9.84% (above 0%: growing) +47.17% (above 0%: growing) +212.66% (above 0%: growing) 83.23% 31.72% Compare
GRAB Grab Holdings Limited $11.3B 19.4× 19.7× +21.73% (above 0%: growing) +500.00% (above 0%: growing) −40.38% (below 0%: shrinking) 43.63% 1.91% Compare
ESTC Elastic N.V. $11.0B 27.0× 396× +15.13% (above 0%: growing) n/m +26.14% (above 0%: growing) 74.50% (4.93%) Compare
CHYM Chime Financial, Inc. $10.9B — (loss-making) 63.6× +26.81% (above 0%: growing) n/m +749.07% (above 0%: growing) 88.82% 3.18% Compare
Median of peers $11.7B 27.8× 50.8× +18.51% +30.41% +21.28% 79.96% 2.55%

All 230 Software Application stocks →

Pay and ownership Proxy statement filed 27 April 2026

Ownership

Directors and executive officers, together 3.70%
T. Rowe Price Associates, Inc. 10.20%
The Vanguard Group 10.00%
BlackRock, Inc. 6.40%
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

HubSpot, Inc. (HUBS) Latest News

29 Oct

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28 Oct

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27 Oct

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20 Oct

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19 Oct

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stockrow.com/HUBS · Data as of Oct 25, 2026 · For information only; not investment advice. · © 2026 stockrow.com