Analysis of Geographic Areas
CrowdStrike Holdings Inc. operates in 2 regions: United States and Other countries.
Area Asset Turnover
CrowdStrike Holdings Inc., asset turnover by geographic area
| Jan 31, 2026 | Jan 31, 2025 | Jan 31, 2024 | Jan 31, 2023 | Jan 31, 2022 | Jan 31, 2021 | |
|---|---|---|---|---|---|---|
| United States | 3.76 | 3.90 | 3.87 | 3.60 | 4.08 | 3.59 |
| Other countries | 8.36 | 8.91 | 7.51 | 6.88 | 11.24 | 8.63 |
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).
Asset turnover ratios for the specified geographic areas demonstrate distinct trends over the observed period. The United States exhibits a relatively stable ratio, while asset turnover in other countries shows greater volatility and, on average, a higher value.
- United States
- The asset turnover ratio for the United States increased from 3.59 in 2021 to 4.08 in 2022, indicating improved efficiency in asset utilization. A subsequent decrease to 3.60 was noted in 2023. The ratio recovered somewhat in 2024, reaching 3.87, and remained relatively consistent at 3.90 in 2025 before declining slightly to 3.76 in 2026. Overall, the ratio fluctuates within a narrow range, suggesting consistent, though not dramatically improving, asset management practices.
- Other Countries
- Asset turnover in other countries began at a significantly higher level of 8.63 in 2021. This ratio increased substantially to 11.24 in 2022, representing a considerable improvement in asset utilization. A marked decline occurred in 2023, with the ratio falling to 6.88. The ratio partially recovered to 7.51 in 2024, and then increased to 8.91 in 2025. A slight decrease to 8.36 was observed in 2026. The volatility in this region’s ratio suggests potentially greater sensitivity to regional economic conditions or changes in operational strategies.
- Comparative Analysis
- Throughout the period, the asset turnover ratio in other countries consistently exceeded that of the United States. This suggests that assets deployed in these other countries generate comparatively more revenue. The larger fluctuations observed in other countries warrant further investigation to understand the underlying drivers of these changes. The recent trend in 2025 and 2026 shows a convergence of the ratios, with the ratio in other countries decreasing and the ratio in the United States increasing, though the difference remains substantial.
Area Asset Turnover: United States
CrowdStrike Holdings Inc.; United States; area asset turnover calculation
| Jan 31, 2026 | Jan 31, 2025 | Jan 31, 2024 | Jan 31, 2023 | Jan 31, 2022 | Jan 31, 2021 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Revenue | 3,216,654) | 2,682,942) | 2,088,054) | 1,563,567) | 1,046,474) | 627,402) |
| Property and equipment, net and operating lease right-of-use assets | 855,312) | 688,766) | 539,580) | 433,756) | 256,282) | 174,889) |
| Area Activity Ratio | ||||||
| Area asset turnover1 | 3.76 | 3.90 | 3.87 | 3.60 | 4.08 | 3.59 |
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).
1 2026 Calculation
Area asset turnover = Revenue ÷ Property and equipment, net and operating lease right-of-use assets
= 3,216,654 ÷ 855,312 = 3.76
The area asset turnover for the United States demonstrates a generally stable performance over the observed period, with some fluctuation. Revenue originating from the United States consistently increased year over year, while the value of property, equipment, net, and operating lease right-of-use assets also exhibited growth. The interplay between these two financial items resulted in the observed asset turnover ratios.
- Overall Trend
- The area asset turnover ratio began at 3.59 in 2021 and increased to 4.08 in 2022. It then decreased to 3.60 in 2023 before recovering to 3.87 in 2024. The ratio remained relatively consistent at 3.90 in 2025, and experienced a slight decline to 3.76 in 2026. This suggests a moderate efficiency in generating revenue from assets within the United States.
- Revenue Growth
- Revenue increased substantially each year, moving from US$627,402 thousand in 2021 to US$3,216,654 thousand in 2026. This consistent revenue growth indicates strong market demand and effective sales strategies within the United States.
- Asset Investment
- Property and equipment, net and operating lease right-of-use assets also increased steadily, from US$174,889 thousand in 2021 to US$855,312 thousand in 2026. This indicates ongoing investment in assets to support the expanding revenue base. The growth in assets, while substantial, did not consistently outpace revenue growth, contributing to the fluctuations in the asset turnover ratio.
- Ratio Fluctuations
- The initial increase in the ratio from 2021 to 2022 suggests improved asset utilization. The subsequent dip in 2023 could be attributed to a larger proportional increase in asset investment compared to revenue growth during that period. The recovery in 2024 and stabilization in 2025 suggest a rebalancing of asset utilization. The slight decrease in 2026 warrants further investigation to determine if it signals a potential trend or is a temporary anomaly.
In conclusion, the area asset turnover ratio for the United States demonstrates a generally healthy level of efficiency, supported by consistent revenue growth and strategic asset investment. While fluctuations are observed, the overall trend suggests effective management of assets in relation to revenue generation.
Area Asset Turnover: Other countries
CrowdStrike Holdings Inc.; Other countries; area asset turnover calculation
| Jan 31, 2026 | Jan 31, 2025 | Jan 31, 2024 | Jan 31, 2023 | Jan 31, 2022 | Jan 31, 2021 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Revenue | 1,595,351) | 1,270,682) | 967,501) | 677,669) | 405,120) | 247,036) |
| Property and equipment, net and operating lease right-of-use assets | 190,879) | 142,637) | 128,803) | 98,515) | 36,030) | 28,609) |
| Area Activity Ratio | ||||||
| Area asset turnover1 | 8.36 | 8.91 | 7.51 | 6.88 | 11.24 | 8.63 |
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).
1 2026 Calculation
Area asset turnover = Revenue ÷ Property and equipment, net and operating lease right-of-use assets
= 1,595,351 ÷ 190,879 = 8.36
The financial performance related to assets in areas categorized as "Other countries" demonstrates a fluctuating pattern over the observed period. Revenue consistently increased year-over-year, while the value of property, equipment, net, and operating lease right-of-use assets also generally rose, though with varying degrees of growth. Consequently, the area asset turnover ratio, which measures revenue generated per dollar of assets, exhibited corresponding variability.
- Revenue
- Revenue originating from these areas increased substantially from US$247.036 million in January 2021 to US$1,595.351 million by January 2026. This represents a significant compound annual growth rate, indicating expanding market presence and sales effectiveness in international regions.
- Property and Equipment, Net and Operating Lease Right-of-Use Assets
- The value of these assets increased from US$28.609 million in January 2021 to US$190.879 million in January 2026. The rate of increase was most pronounced between January 2022 and January 2023, and again between January 2023 and January 2024. This suggests periods of significant investment in infrastructure to support revenue growth.
- Area Asset Turnover
- The area asset turnover ratio began at 8.63 in January 2021, increased to a peak of 11.24 in January 2022, then decreased to 6.88 in January 2023. It subsequently recovered to 7.51 in January 2024, 8.91 in January 2025, and settled at 8.36 in January 2026. The initial increase suggests improved asset utilization. The subsequent decline in January 2023, despite continued revenue growth, indicates that asset investment outpaced revenue generation during that period. The recovery in later years suggests a rebalancing of asset investment and revenue production. The ratio in January 2026 remains above the level observed in January 2021, indicating overall improved asset efficiency despite fluctuations.
In summary, while revenue consistently grew, the asset turnover ratio experienced volatility, suggesting varying levels of efficiency in asset utilization. The company appears to be strategically investing in assets within these international areas, and while these investments initially impacted the turnover ratio, subsequent performance indicates a positive trend towards improved asset efficiency.
Revenue
CrowdStrike Holdings Inc., revenue by geographic area
US$ in thousands
| Jan 31, 2026 | Jan 31, 2025 | Jan 31, 2024 | Jan 31, 2023 | Jan 31, 2022 | Jan 31, 2021 | |
|---|---|---|---|---|---|---|
| United States | 3,216,654) | 2,682,942) | 2,088,054) | 1,563,567) | 1,046,474) | 627,402) |
| Other countries | 1,595,351) | 1,270,682) | 967,501) | 677,669) | 405,120) | 247,036) |
| Total | 4,812,005) | 3,953,624) | 3,055,555) | 2,241,236) | 1,451,594) | 874,438) |
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).
Revenue exhibits consistent growth across all reported geographic areas between January 31, 2021, and January 31, 2026. The United States consistently represents the largest portion of overall revenue, while revenue from other countries demonstrates a similar upward trajectory, albeit from a smaller base.
- United States Revenue Trend
- Revenue from the United States increased from US$627.402 million in 2021 to US$3,216.654 million in 2026. This represents a substantial and steady increase over the five-year period, indicating strong market penetration and growth within the domestic market. The growth rate appears relatively consistent year-over-year.
- Other Countries Revenue Trend
- Revenue generated from countries outside the United States rose from US$247.036 million in 2021 to US$1,595.351 million in 2026. This demonstrates significant expansion in international markets. While starting from a lower base than the United States, the percentage growth in revenue from other countries is notable, suggesting increasing global adoption of the company’s offerings.
- Total Revenue Trend
- Total revenue, combining both geographic areas, grew from US$874.438 million in 2021 to US$4,812.005 million in 2026. This overall growth is driven by the increases observed in both the United States and other countries. The consistent growth in total revenue suggests a healthy and expanding business.
- Geographic Revenue Contribution
- In 2021, revenue from other countries represented approximately 28.3% of total revenue. By 2026, this contribution increased to approximately 33.2%. This indicates a gradual shift towards a more diversified revenue base, with international markets becoming a larger component of overall revenue.
The observed trends suggest a successful expansion strategy, both domestically and internationally. Continued monitoring of these geographic revenue streams will be important to assess the sustainability of this growth and identify potential opportunities or challenges in specific markets.
Property and equipment, net and operating lease right-of-use assets
CrowdStrike Holdings Inc., property and equipment, net and operating lease right-of-use assets by geographic area
US$ in thousands
| Jan 31, 2026 | Jan 31, 2025 | Jan 31, 2024 | Jan 31, 2023 | Jan 31, 2022 | Jan 31, 2021 | |
|---|---|---|---|---|---|---|
| United States | 855,312) | 688,766) | 539,580) | 433,756) | 256,282) | 174,889) |
| Other countries | 190,879) | 142,637) | 128,803) | 98,515) | 36,030) | 28,609) |
| Total | 1,046,191) | 831,403) | 668,383) | 532,271) | 292,312) | 203,498) |
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).
The values representing property and equipment, net and operating lease right-of-use assets demonstrate consistent growth across all reported geographic areas between January 31, 2021, and January 31, 2026. The United States consistently represents the largest portion of these assets, with significantly higher values than other countries throughout the period.
- United States
- The United States exhibits a strong upward trend, increasing from US$174,889 thousand in 2021 to a projected US$855,312 thousand in 2026. This represents a substantial cumulative increase, indicating significant investment in property and equipment, net and operating lease right-of-use assets within the domestic market. The growth appears relatively consistent year-over-year, with no major fluctuations.
- Other Countries
- Other countries also show growth, albeit from a smaller base. Values rise from US$28,609 thousand in 2021 to US$190,879 thousand in 2026. While the absolute increase is smaller than that of the United States, the percentage growth is notably higher. This suggests an expanding international presence and investment in infrastructure outside of the domestic market. The rate of increase appears to accelerate between 2021 and 2023, then moderates slightly in subsequent years.
- Total
- Total values, combining both geographic areas, increase from US$203,498 thousand in 2021 to US$1,046,191 thousand in 2026. This overall growth mirrors the trends observed in both the United States and other countries, demonstrating a company-wide pattern of increasing investment in these asset categories. The total value consistently reflects the dominance of the United States contribution.
The consistent growth in both regions suggests a sustained period of expansion and investment. The proportionally larger growth in ‘Other countries’ may indicate a strategic focus on international market development, although the United States remains the primary area for these assets.