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 | = | 426.16 | ÷ | 18.97 | 18.97 | = | 4,812,005 | ÷ | 253,614,090 | |
| Mar 10, 2025 | 19.36 | = | 308.86 | ÷ | 15.95 | 15.95 | = | 3,953,624 | ÷ | 247,873,415 | |
| Mar 7, 2024 | 26.10 | = | 329.68 | ÷ | 12.63 | 12.63 | = | 3,055,555 | ÷ | 241,868,658 | |
| Mar 9, 2023 | 12.81 | = | 121.68 | ÷ | 9.50 | 9.50 | = | 2,241,236 | ÷ | 235,863,985 | |
| Mar 16, 2022 | 30.15 | = | 189.66 | ÷ | 6.29 | 6.29 | = | 1,451,594 | ÷ | 230,767,860 | |
| Mar 18, 2021 | 48.70 | = | 190.21 | ÷ | 3.91 | 3.91 | = | 874,438 | ÷ | 223,876,229 | |
| Mar 23, 2020 | 22.79 | = | 51.45 | ÷ | 2.26 | 2.26 | = | 481,413 | ÷ | 213,213,015 |
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 price-to-sales ratio exhibited considerable fluctuation between March 2020 and March 2026. Initial observations reveal a period of significant expansion followed by contraction and subsequent stabilization, with a final increase towards the end of the observed period.
- Overall Trend
- From March 2020 to March 2021, the price-to-sales ratio increased substantially, moving from 22.79 to 48.70. This represents a more than doubling of the ratio within a single year. Following this peak, the ratio decreased to 30.15 in March 2022, indicating a correction. A more pronounced decline occurred between March 2022 and March 2023, with the ratio falling to 12.81. The ratio then experienced a recovery, rising to 26.10 by March 2024. This upward momentum continued, albeit at a slower pace, reaching 19.36 in March 2025, before concluding at 22.46 in March 2026.
- Relationship to Share Price and Sales per Share
- The initial increase in the price-to-sales ratio coincided with a substantial increase in the share price, from US$51.45 to US$190.21, and a corresponding rise in sales per share, from US$2.26 to US$3.91. The subsequent decline in the ratio in 2022 and 2023 was associated with a decrease in share price to US$121.68, despite continued growth in sales per share, which reached US$9.50. The recovery observed from 2023 onwards aligns with the increase in share price to US$426.16 in March 2026, and a continued increase in sales per share to US$18.97.
- Volatility
- The period between 2020 and 2023 demonstrates significant volatility in the price-to-sales ratio. The large swings suggest sensitivity to market conditions or company-specific events. The latter part of the period, from 2024 to 2026, shows a more moderate and stable trend, although the ratio did not return to the high levels observed in 2021.
In summary, the price-to-sales ratio experienced a dynamic period, characterized by initial expansion, a significant correction, and a subsequent recovery. The ratio’s movements appear correlated with changes in both share price and sales per share, with a notable period of volatility followed by increased stability.
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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 | — | — | — | — | — | — | — | — | — | — | — | 4.29 | — | — | 4.06 |
| Mar 10, 2025 | 19.36 | 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 | 22.79 | 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 | 19.36 | 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 | 22.79 | 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 | 19.36 | 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 | 22.79 | 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).