CrowdStrike Holdings Inc. (NASDAQ:CRWD)

Market (fair) value of CrowdStrike

The market value exhibits a remarkable upward trend from 2020 to 2025, starting at approximately $10.37 billion and peaking near $80.39 billion in 2024. A significant jump is noted between 2020 and 2021, increasing more than fourfold. However, there is a decline in 2023 where the value drops to about $29.16 billion from the previous year's $44.52 billion, before recovering again in 2024. A slight decrease occurs in 2025, with the market value reducing marginally to around $77.33 billion.

Invested Capital

Invested capital has consistently increased over the years, starting at approximately $669 million in 2020 and rising steadily to over $7.6 billion by 2025. This growth indicates ongoing investment and expansion activities, with incremental yearly increases showing a strategic buildup of assets or capital deployment.

Market Value Added (MVA)

The Market Value Added closely mirrors the market value trend, growing from roughly $9.7 billion in 2020 to about $74.5 billion in 2024. MVA sees a sharp rise between 2020 and 2021, followed by an incremental increase to 2022. It then experiences a notable decline in 2023, similar to the market value trend, before rebounding strongly in 2024. By 2025, MVA slightly decreases to approximately $69.7 billion. This pattern reflects fluctuations in the market value minus invested capital, suggesting varying investor perceptions of value creation over time.

Market Value Added (MVA)

The market value added exhibits significant fluctuations over the analyzed period. Starting at approximately 9.7 billion US dollars in early 2020, it increased sharply to over 40.8 billion by early 2021 and then remained relatively stable through early 2022. However, it declined notably to around 25 billion in 2023 before rebounding strongly to approximately 74.5 billion in 2024, followed by a slight decrease to about 69.7 billion in 2025. This pattern suggests considerable variability in market perception and valuation, with a peak observed in 2024.

Invested Capital

The invested capital has shown a consistent upward trend across the observed years. Beginning at roughly 670 million US dollars in early 2020, it increased steadily each year, reaching over 7.6 billion by early 2025. This steady growth indicates ongoing investment in capital assets or resources, reflecting possible expansion or enhancement in operational capacity.

MVA Spread Ratio

The MVA spread ratio, which compares market value added to invested capital, follows a fluctuating but generally declining pattern. It peaked at over 1600% in early 2021, indicating a very high market valuation relative to invested capital at that time. This ratio then decreased to around 608% by early 2023, signifying a reduced premium of market value over invested capital. Although there was a partial recovery to around 1265% in 2024, it declined again to approximately 916% in 2025. These movements suggest changing market expectations and efficiencies in capital utilization over time.

Summary Insights

The data reflects a company experiencing rapid changes in market valuation relative to its invested capital. While invested capital shows a clear, consistent growth trajectory, indicating sustained internal investment, the market value added and the associated MVA spread ratio demonstrate volatility. This may reflect external factors impacting market sentiment or shifts in perceived growth prospects. The sharp increase in MVA in 2024 followed by a minor contraction implies fluctuating investor confidence or significant market events influencing valuation. Overall, the company’s capital base is expanding steadily, but market valuation dynamics remain variable and sensitive to broader economic or company-specific developments.

The financial data reveals notable trends over the analyzed period. Market value added (MVA) reflects significant fluctuations, with an initial strong value recorded in 2020, peaking sharply in 2021, followed by a decline through 2023, then a considerable rebound in 2024 before slightly decreasing in 2025.

Adjusted revenue demonstrates consistent growth year over year. Starting from a lower base in 2020, it nearly doubles by 2021, then continues to increase substantially through to 2025, indicating robust top-line expansion during the period.

The MVA margin exhibits a volatile pattern, not directly proportional to revenue growth. It spikes dramatically in 2021, then declines steeply in 2023, rises again in 2024, but remains below the earlier peak, showing sensitivity to market valuation changes beyond revenue increases.

Market Value Added (MVA)

Started at approximately 9.7 billion US dollars in 2020, rose sharply to over 40.8 billion in 2021, peaked marginally higher in 2022, declined significantly to about 25 billion in 2023, rebounded to 74.5 billion in 2024, and then experienced a slight decrease to 69.7 billion in 2025.

Adjusted Revenue

Increased steadily from around 763 million US dollars in 2020 to approximately 4.6 billion in 2025. This represents strong, consistent revenue growth without interruptions.

MVA Margin

Expressed as a percentage, it was extremely high in 2020 at 1272.66%, surged to 3362.6% in 2021, dropped sharply to 816.6% by 2023, climbed again to 1984.37% in 2024, and then eased to 1506.35% in 2025. This indicates that despite rising revenues, market valuation dynamics influenced the company's financial performance ratios significantly.