Price to Sales (P/S)
since 2020
Calculation
CrowdStrike Holdings Inc., P/S, long-term trends, calculation
| P/S | = | Share price1, 2, 3 | ÷ | Sales per share1 | Sales per share1 | = | Revenue1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar 5, 2026 | 22.46 | = | 106.54 | ÷ | 4.74 | 4.74 | = | 4,812,005 | ÷ | 1,014,456,360 | |
| Mar 10, 2025 | 19.37 | = | 77.22 | ÷ | 3.99 | 3.99 | = | 3,953,624 | ÷ | 991,493,660 | |
| Mar 7, 2024 | 26.10 | = | 82.42 | ÷ | 3.16 | 3.16 | = | 3,055,555 | ÷ | 967,474,632 | |
| Mar 9, 2023 | 12.81 | = | 30.42 | ÷ | 2.38 | 2.38 | = | 2,241,236 | ÷ | 943,455,940 | |
| Mar 16, 2022 | 30.15 | = | 47.42 | ÷ | 1.57 | 1.57 | = | 1,451,594 | ÷ | 923,071,440 | |
| Mar 18, 2021 | 48.70 | = | 47.55 | ÷ | 0.98 | 0.98 | = | 874,438 | ÷ | 895,504,916 | |
| Mar 23, 2020 | 22.78 | = | 12.86 | ÷ | 0.56 | 0.56 | = | 481,413 | ÷ | 852,852,060 |
Based on: 10-K (reporting date: 2026-01-31), 10-K (reporting date: 2025-01-31), 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of CrowdStrike Holdings Inc. Annual Report.
The financial trajectory from 2020 to 2026 reveals a consistent expansion in fundamental revenue generation contrasted by significant volatility in market valuation. While top-line growth per share has maintained a steady upward climb, the price-to-sales (P/S) ratio has undergone several cycles of expansion and contraction, reflecting shifting investor sentiment and market expectations.
- Sales per Share Growth
- A linear and uninterrupted increase is observed in sales per share, rising from 0.56 US$ in 2020 to 4.74 US$ by 2026. This consistent growth demonstrates a robust capacity for scaling revenue on a per-share basis over the analyzed period.
- P/S Ratio Volatility
- The P/S ratio exhibited extreme fluctuations, peaking at 48.70 in 2021 before contracting sharply to a period low of 12.81 in 2023. This suggests a phase of significant valuation expansion followed by a corrective market adjustment. A subsequent recovery was noted in 2024, with the ratio rising to 26.10, before moderating to 22.46 by 2026.
- Valuation Convergence
- Despite the share price increasing from 12.86 US$ to 106.54 US$, the P/S ratio in 2026 has effectively converged with the 2020 valuation of 22.78. This indicates that the long-term appreciation in share price has been primarily driven by fundamental revenue growth rather than an expansion of the valuation multiple.
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Comparison to Competitors
CrowdStrike Holdings Inc., P/S, long-term trends, comparison to competitors
| CrowdStrike Holdings Inc. | Accenture PLC | Adobe Inc. | AppLovin Corp. | Cadence Design Systems Inc. | Datadog Inc. | International Business Machines Corp. | Intuit Inc. | Microsoft Corp. | Oracle Corp. | Palantir Technologies Inc. | Palo Alto Networks Inc. | Salesforce Inc. | ServiceNow Inc. | Synopsys Inc. | Workday Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar 5, 2026 | 22.46 | — | — | — | — | — | — | — | — | 7.49 | — | — | 4.29 | — | — | 4.06 |
| Mar 10, 2025 | 19.37 | 2.15 | 5.25 | 25.35 | 15.27 | 12.53 | 3.19 | 9.90 | 13.54 | 10.32 | 71.09 | 13.82 | 7.40 | 9.20 | 13.05 | 7.65 |
| Mar 7, 2024 | 26.10 | 3.48 | 8.27 | 23.14 | 15.26 | 16.12 | 3.81 | 10.72 | 12.82 | 7.44 | 102.00 | 13.62 | 8.45 | 18.99 | 12.45 | 9.61 |
| Mar 9, 2023 | 12.81 | 2.98 | 13.88 | 6.14 | 20.02 | 20.19 | 2.73 | 10.72 | 11.60 | 6.63 | 23.27 | 10.87 | 5.84 | 17.52 | 14.75 | 7.71 |
| Mar 16, 2022 | 30.15 | 2.56 | 8.95 | 1.80 | 14.23 | 14.64 | 1.94 | 9.30 | 10.40 | 4.25 | 9.34 | 9.62 | 7.40 | 12.75 | 10.03 | 11.19 |
| Mar 18, 2021 | 48.70 | 4.28 | 14.94 | 5.99 | 12.55 | 49.25 | 1.94 | 16.09 | 12.81 | 5.38 | 15.58 | 10.72 | 9.24 | 19.02 | 13.22 | 13.95 |
| Mar 23, 2020 | 22.78 | 3.26 | 17.04 | — | 13.85 | 49.57 | 1.47 | 11.78 | 10.85 | 4.33 | 39.86 | 6.66 | 8.88 | 25.66 | 10.08 | 10.65 |
Based on: 10-K (reporting date: 2026-01-31), 10-K (reporting date: 2025-01-31), 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31).
Comparison to Sector (Software & Services)
CrowdStrike Holdings Inc., P/S, long-term trends, comparison to sector (software & services)
| CrowdStrike Holdings Inc. | Software & Services | |
|---|---|---|
| Mar 5, 2026 | 22.46 | — |
| Mar 10, 2025 | 19.37 | 10.41 |
| Mar 7, 2024 | 26.10 | 10.40 |
| Mar 9, 2023 | 12.81 | 8.78 |
| Mar 16, 2022 | 30.15 | 7.45 |
| Mar 18, 2021 | 48.70 | 9.54 |
| Mar 23, 2020 | 22.78 | 7.74 |
Based on: 10-K (reporting date: 2026-01-31), 10-K (reporting date: 2025-01-31), 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31).
Comparison to Industry (Information Technology)
CrowdStrike Holdings Inc., P/S, long-term trends, comparison to industry (information technology)
| CrowdStrike Holdings Inc. | Information Technology | |
|---|---|---|
| Mar 5, 2026 | 22.46 | — |
| Mar 10, 2025 | 19.37 | 10.47 |
| Mar 7, 2024 | 26.10 | 9.33 |
| Mar 9, 2023 | 12.81 | 7.33 |
| Mar 16, 2022 | 30.15 | 6.01 |
| Mar 18, 2021 | 48.70 | 7.00 |
| Mar 23, 2020 | 22.78 | 6.12 |
Based on: 10-K (reporting date: 2026-01-31), 10-K (reporting date: 2025-01-31), 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31).