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Twilio Inc.

TWLO Technology Software Infrastructure

Twilio Inc.’s revenue for fiscal 2025 (year ended December 2025) was $5.1 billion, up 13.7% from fiscal 2024. In the quarter to June 2026, revenue grew 22.0%, EPS grew 4,560.0%, free cash flow grew 32.2% and total debt was flat, each against the same quarter a year earlier. Member of the S&P 500; revenue growth for ten consecutive years, operating cash flow growth for three.

255.71 11.34 +4.64%
Market cap
$37.5B
P/E
32.5×
Fwd P/E
28.4×
Dividend yield
—
F-score
6/9
Altman Z
6.40
Beneish M
−2.85
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total sells 619.04
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell 2 3 2 1 3 3 6 4 2 3 2 1
Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 37,530.00
Revenue 5,572.33
Net Income 1,148.74
Free Cash Flow 973.38
Net Debt (1,663.17)
Current Ratio 4.62 (at or above 1.5: strong)
Debt/Equity 0.11 (at or below 0.5: strong)
P/E ratio 32.50
Fwd P/E 28.40
P/S ratio 6.70
P/B ratio 4.16
Past 5Y EPS Growth —
This Y EPS Growth 21.29% (at or above 15%: strong)
Next Y EPS Growth 14.43%
Next Y revenue growth 18.45% (at or above 10%: strong)
Next 5Y EPS Growth 16.71% (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 6.4×, against a ten-year median of 6.4×; over the ten years it ranged from 1.6× in 2023 to 31.2× in 2021.
P/S against its own 10 years 48.94%
10-year low 10-year high
P/B against its own 10 years 54.19%
10-year low 10-year high
EV/Sales against its own 10 years 50.98%
10-year low 10-year high
EV/FCF against its own 10 years 87.96%
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 4,012 2,384 2,470 2,656
Receivables 563 589 637 760
Inventory — — — —
Other — — — —
4,904 3,447 3,577 3,746
2023 2024 2025 Q'26
Payables 120 100 85 71
ST’ Debt — — — —
Other — — — —
738 820 887 811

Compound Annual Growth %

10y 5y 3y
Sales 40.68% 23.53% 9.82%
Cash Flow 0.00% 98.38% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value 52.28% (1.54%) (9.52%)

Revenue $m

Mar Jun Sep Dec Year
’26 1,407 1,499 — — —
’25 1,172 1,228 1,300 1,366 5,067
’24 1,047 1,083 1,134 1,195 4,458
’23 1,007 1,038 1,034 1,076 4,154
’22 875 943 983 1,025 3,826
’21 590 669 740 843 2,842
’20 365 401 448 548 1,762
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 153 372 — — —
’25 191 277 264 272 1,003
’24 190 213 204 108 716
’23 (98) 84 206 223 415
’22 (18) (63) (116) (58) (254)
’21 5 22 (46) (38) (58)
’20 16 (2) 4 15 33
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 132 345 — — —
’25 177 261 248 250 940
’24 177 198 189 90 657
’23 (114) 72 195 202 364
’22 (42) (78) (147) (109) (369)
’21 (11) (9) (82) (105) (194)
’20 1 (17) (24) 1 (26)
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 0.57 6.68 — — —
’25 0.12 0.14 0.23 (0.30) 0.21
’24 (0.31) (0.19) (0.06) (0.08) (0.66)
’23 (1.84) (0.91) (0.78) (2.01) (5.54)
’22 (1.23) (1.77) (2.63) (1.24) (6.86)
’21 (1.24) (1.31) (1.26) (1.63) (5.45)
’20 (0.68) (0.71) (0.79) (1.13) (3.35)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.7
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 23.66 22.80 23.25 80.13 68.06 235.00 41.00 45.02 52.51 77.51

Analyst estimates 2026–2028

Powerpack
High 70.96 34.95 100.47 151.00 374.49 457.30 266.74 79.70 116.43 151.95
People
People Employees 730 996 1,440 2,905 4,629 7,867 3,605 5,867 5,535 5,587
Revenue/emp, $m 0.38 0.40 0.45 0.39 0.38 0.36 1.06 0.71 0.81 0.91
Income, $m
Income, $m Revenue 277 399 650 1,134 1,762 2,842 3,826 4,154 4,458 5,067
Gross margin, % 56.54 54.16 53.72 53.67 51.97 48.94 47.40 49.20 51.10 48.92
EBT (41) (63) (121) (362) (504) (961) (1,244) (997) (89) 55
EBT margin, % (14.78) (15.79) (18.64) (31.93) (28.63) (33.81) (32.50) (23.99) (1.99) 1.09
Net income (41) (64) (122) (307) (491) (950) (1,256) (1,015) (109) 34
Depreciation 8 19 40 134 170 326 370 357 259 256
Per share, $
Per share, $ Revenue 5.22 4.37 6.69 8.72 12.01 16.32 20.91 22.66 26.87 33.12
Earnings (0.78) (0.70) (1.26) (2.36) (3.35) (5.45) (6.86) (5.54) (0.66) 0.22
Cash flow 0.19 (0.04) 0.08 0.11 0.22 (0.33) (1.39) 2.26 4.32 6.56
Capex (0.50) (0.29) (0.25) (0.87) (0.40) (0.78) (0.63) (0.28) (0.35) (0.42)
Free cash flow (0.31) (0.33) (0.17) (0.76) (0.18) (1.12) (2.02) 1.98 3.96 6.14
Book value 6.20 3.94 4.51 32.90 57.62 63.33 57.70 53.09 47.93 51.13
Shares, m 53 91 97 130 147 174 183 183 166 153
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 646.55
P/S 5.08 5.74 13.34 11.27 28.19 16.14 2.41 3.14 4.02 4.29
P/B 4.27 6.36 19.79 2.99 5.88 4.16 0.87 1.34 2.25 2.78
EV/Sales 3.97 5.01 12.86 10.05 26.64 14.61 1.59 2.41 3.71 4.00
EV/FCF (67.24) (65.71) (492.28) (109.78) (554.57) (201.17) (16.17) 28.73 25.32 21.66
Cash, $m
Cash, $m Operating cash flow 10 (3) 8 14 33 (58) (254) 415 716 1,003
Capex (26) (27) (25) (113) (59) (136) (115) (51) (59) (64)
Free cash flow (16) (30) (17) (99) (26) (194) (369) 364 657 940
Balance, $m
Balance, $m Working capital 280 275 735 1,814 2,924 5,229 4,176 4,166 2,627 2,690
Total debt — — 434 467 320 1,011 1,009 989 991 992
Net debt (306) (291) (314) (1,386) (2,720) (4,347) (3,146) (3,023) (1,394) (1,478)
Shareholders’ equity 329 360 438 4,279 8,453 11,031 10,559 9,733 7,953 7,822
Returns, %
Returns, % ROA (14.49) (14.77) (16.50) (9.94) (6.71) (8.45) (9.83) (8.40) (1.02) 0.34
ROIC (108.58) (59.87) (57.90) (7.99) (5.37) (8.56) (10.16) (8.17) (0.51) 1.55
ROE (40.09) (18.49) (30.56) (13.02) (7.71) (9.75) (11.64) (10.01) (1.24) 0.43
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 1.32 Actual 1.47

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 1.05 1.25 Beat by 0.20
Q4 FY25 1.24 1.33 Beat by 0.09
Q1 FY26 1.27 1.50 Beat by 0.23
Q2 FY26 1.32 1.47 Beat by 0.15
Q3 FY26 1.46 — Reports 29 October 2026

Charts ten years each

Twilio 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
XYZ Block, Inc. $46.8B 134× 46.4× +9.30% (above 0%: growing) −82.95% (below 0%: shrinking) +181.80% (above 0%: growing) 47.84% 6.75% Compare
NBIS Nebius Group N.V. $45.0B 636× 34.8× +454.04% (above 0%: growing) n/m −399.28% (below 0%: shrinking) 77.06% (30.21%) Compare
NTAP NetApp, Inc. $40.0B 28.4× 26.2× +29.89% (above 0%: growing) +64.66% (above 0%: growing) −35.32% (below 0%: shrinking) 70.07% 23.90% Compare
TWLO Twilio Inc. $37.5B 32.5× 28.4× +22.03% (above 0%: growing) +4,560.00% (above 0%: growing) +32.18% (above 0%: growing) 48.42% 5.64%
CRWV CoreWeave Inc. $33.9B — (loss-making) — (loss-making) +112.46% (above 0%: growing) n/m −112.39% (below 0%: shrinking) 65.86% (1.90%) Compare
ZS Zscaler, Inc. $33.8B — (loss-making) 7,738× +24.88% (above 0%: growing) n/m −64.66% (below 0%: shrinking) 76.73% (1.72%) Compare
OKTA Okta, Inc. $32.7B 111× 94.0× +10.58% (above 0%: growing) +76.32% (above 0%: growing) +38.89% (above 0%: growing) 79.63% 13.29% Compare
VRSN VeriSign, Inc. $27.3B 32.8× 31.6× +6.03% (above 0%: growing) +7.69% (above 0%: growing) +9.30% (above 0%: growing) 88.50% 68.18% Compare
MDB MongoDB, Inc. $27.2B 456× 515× +30.50% (above 0%: growing) n/m +94.79% (above 0%: growing) 73.83% 3.68% Compare
Median of peers $33.8B 123× 46.4× +27.39% +36.17% −13.01% 75.28% 5.22%

All 188 Software Infrastructure stocks →

TWLO metrics, ten years each

Twilio Inc. (TWLO) key facts

  • Strength: Twilio Inc.’s revenue for fiscal 2025 (year ended December 2025) was $5.1 billion, up 13.7% from fiscal 2024.
  • Twilio Inc. (TWLO) is a Software Infrastructure company in the Technology sector, listed on the New York Stock Exchange.
  • Net income was $33.8 million, or $0.22 per share (basic), a net margin of 0.67%.
  • As of October 16, 2026, TWLO traded at $244.37, a market capitalization of $37.5 billion.
  • At that price the stock trades at 32.5× trailing-twelve-month earnings and 6.7× sales.
  • Return on equity was 0.43% and debt-to-equity 0.11.
  • Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 6.40 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Twilio Inc. (TWLO) Latest News

30 Apr

Impact 5 · transcript
stockrow.com/TWLO · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com