Analysis of Geographic Areas
CrowdStrike Holdings Inc. operates in 2 regions: United States and Other countries.
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- Balance Sheet: Assets
- Common-Size Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Present Value of Free Cash Flow to Equity (FCFE)
- Analysis of Revenues
- Analysis of Debt
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Area Asset Turnover
CrowdStrike Holdings Inc., asset turnover by geographic area
| Jan 31, 2025 | Jan 31, 2024 | Jan 31, 2023 | Jan 31, 2022 | Jan 31, 2021 | Jan 31, 2020 | |
|---|---|---|---|---|---|---|
| United States | ||||||
| Other countries |
Based on: 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).
- United States Asset Turnover
- The asset turnover ratio for the United States exhibits a generally increasing trend from January 31, 2020, to January 31, 2025. Starting at 2.84 in 2020, the ratio rises to a peak of 4.08 in 2022, indicating improved efficiency in asset use within the domestic market during this period. Following this peak, there is a modest decline to 3.6 in 2023 but the ratio recovers thereafter, reaching 3.9 by 2025. Overall, the data suggest a stable and moderately upward trend in asset turnover attributable to the United States segment over the observed years.
- Other Countries Asset Turnover
- The asset turnover ratio for other countries shows a more volatile pattern compared to the United States. The ratio starts relatively high at 11.71 in 2020, decreases significantly to 8.63 in 2021, and then fluctuates with a rise to 11.24 in 2022 followed by a notable decline to 6.88 in 2023. After 2023, the ratio increases gradually to 7.51 in 2024 and further to 8.91 in 2025. Despite the fluctuations, the ratio remains considerably higher than the United States throughout the period, indicating that asset utilization outside the United States operates at a higher turnover level but with greater instability.
- Comparative Insights
- Comparing the two geographical segments, the United States maintains a more consistent and gradually improving asset turnover ratio, while other countries experience greater variability and higher absolute turnover ratios. This disparity suggests that assets in other countries are either turned over more rapidly or reflect different operational dynamics, albeit with increased volatility. The trends highlight potential differences in market conditions, business strategies, or asset management efficiency between domestic and international operations over the five-year span.
Area Asset Turnover: United States
CrowdStrike Holdings Inc.; United States; area asset turnover calculation
| Jan 31, 2025 | Jan 31, 2024 | Jan 31, 2023 | Jan 31, 2022 | Jan 31, 2021 | Jan 31, 2020 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Revenue | ||||||
| Property and equipment, net and operating lease right-of-use assets | ||||||
| Area Activity Ratio | ||||||
| Area asset turnover1 | ||||||
Based on: 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 2025 Calculation
Area asset turnover = Revenue ÷ Property and equipment, net and operating lease right-of-use assets
= ÷ =
The analysis of the annual financial data for the United States geographic area reveals several notable trends over the reported periods.
- Revenue
- There is a clear and consistent upward trajectory in revenue from January 31, 2020, through to January 31, 2025. Starting at approximately $356.5 million in 2020, revenue nearly doubles each subsequent year, reaching approximately $2.68 billion by 2025. This growth pattern indicates strong market expansion and increasing demand in the region.
- Property and Equipment, Net and Operating Lease Right-of-Use Assets
- This asset category shows significant increases over the same periods, reflecting substantial capital investment and expansion. Beginning at around $125.4 million in 2020, the net value more than quintupled by 2025 to approximately $688.8 million. The growth rate accelerates particularly after 2021, suggesting a strategic emphasis on increasing physical and leased operational assets to support business growth.
- Area Asset Turnover Ratio
- The area asset turnover ratio, which measures revenue generated per unit of property and equipment, initially rises from 2.84 in 2020 to a peak of 4.08 in 2022. After this peak, the ratio declines to 3.6 in 2023 but then recovers somewhat to 3.9 by 2025. This pattern suggests that while asset efficiency improved markedly in the initial years, there was some dilution of efficiency possibly due to rapid asset accumulation. The moderate recovery towards the end implies efforts to optimize asset utilization as the asset base stabilizes relative to revenue growth.
Area Asset Turnover: Other countries
CrowdStrike Holdings Inc.; Other countries; area asset turnover calculation
| Jan 31, 2025 | Jan 31, 2024 | Jan 31, 2023 | Jan 31, 2022 | Jan 31, 2021 | Jan 31, 2020 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Revenue | ||||||
| Property and equipment, net and operating lease right-of-use assets | ||||||
| Area Activity Ratio | ||||||
| Area asset turnover1 | ||||||
Based on: 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 2025 Calculation
Area asset turnover = Revenue ÷ Property and equipment, net and operating lease right-of-use assets
= ÷ =
- Revenue
- The revenue in the "Other countries" geographic area exhibited a consistent upward trend throughout the periods analyzed. Starting at $124.9 million in early 2020, revenue nearly doubled to $247.0 million by early 2021 and continued to grow substantially, reaching $405.1 million in early 2022. The growth accelerated further, bringing revenue to $677.7 million in early 2023, then to $967.5 million in early 2024, and ultimately $1.27 billion in early 2025. This steady increase indicates strong market expansion and increasing sales over the five-year span.
- Property and Equipment, Net and Operating Lease Right-of-Use Assets
- Investment in property, equipment, and lease assets visibly increased during the period. From $10.7 million in early 2020, these assets nearly tripled to $28.6 million in early 2021 and grew more moderately to $36.0 million in early 2022. A significant jump is observed in early 2023, when the value surged to $98.5 million. Growth continued at a less aggressive pace but still substantial, reaching $128.8 million in early 2024 and $142.6 million in early 2025. This pattern suggests ongoing capital expenditure to support expanding operations in the region.
- Area Asset Turnover
- The area asset turnover ratio, which measures revenue generated per unit of property and equipment assets, showed variability over time. Initially, the ratio was high at 11.71 in early 2020, indicating efficient asset utilization. It declined to 8.63 in early 2021 but then rebounded to 11.24 in early 2022. After that, the ratio dropped significantly to 6.88 in early 2023 and then showed a gradual increase to 7.51 in early 2024 and 8.91 in early 2025. The decline in asset turnover during 2022 and 2023 reflects that asset growth outpaced revenue growth temporarily, likely due to increased capital investment. The subsequent moderate recovery in turnover suggests improving efficiency as asset base and revenue growth begin to better align.
Revenue
CrowdStrike Holdings Inc., revenue by geographic area
US$ in thousands
| Jan 31, 2025 | Jan 31, 2024 | Jan 31, 2023 | Jan 31, 2022 | Jan 31, 2021 | Jan 31, 2020 | |
|---|---|---|---|---|---|---|
| United States | ||||||
| Other countries | ||||||
| Total |
Based on: 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).
- Revenue Trends in the United States
- The revenue generated from the United States exhibits a consistent and substantial upward trajectory over the six-year period. Starting at approximately $356.5 million in 2020, it nearly doubled by 2021 to around $627.4 million. The growth continued strongly in the subsequent years, reaching approximately $2.68 billion by 2025, indicating an expanding market presence and increased sales within the domestic region.
- Revenue Trends in Other Countries
- Revenues from other countries also show a consistent increase year over year. Beginning at roughly $124.9 million in 2020, this segment nearly doubled to about $247 million by 2021. It continued to grow significantly, reaching approximately $1.27 billion in 2025. Although the absolute numbers are lower than those for the United States, the rate of growth in this segment is robust and indicates successful international expansion.
- Total Revenue
- Total revenues reflect the combined growth of both geographic segments, demonstrating an accelerating growth pattern. From $481.4 million in 2020, the total revenue nearly doubled in 2021 to $874.4 million, then increased sharply to exceed $3.95 billion by 2025. The data suggests that the company’s expansion efforts are yielding strong results with a diversified global revenue base.
- Comparative Geographic Contributions
- The United States remains the dominant revenue contributor throughout the period, consistently accounting for more than twice the revenue generated in other countries. However, the relative growth in other countries is notable, potentially indicating a strategic focus on global market penetration that could balance the geographic revenue mix over time.
Property and equipment, net and operating lease right-of-use assets
CrowdStrike Holdings Inc., property and equipment, net and operating lease right-of-use assets by geographic area
US$ in thousands
| Jan 31, 2025 | Jan 31, 2024 | Jan 31, 2023 | Jan 31, 2022 | Jan 31, 2021 | Jan 31, 2020 | |
|---|---|---|---|---|---|---|
| United States | ||||||
| Other countries | ||||||
| Total |
Based on: 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).
The data reflects the property and equipment, net value, and operating lease right-of-use assets for two geographic segments, the United States and other countries, over a six-year period from January 31, 2020, to January 31, 2025. The values are presented in thousands of US dollars.
- United States Segment
- The United States segment shows a consistent upward trend in property and equipment, net values and operating lease right-of-use assets throughout the period. It starts at $125,409 thousand in 2020 and increases each year to reach $688,766 thousand by 2025. The growth accelerates significantly between 2021 and 2023, with the most substantial jumps observed from 2021 to 2022 and continuing through 2023. Although growth continues in 2024 and 2025, the rate of increase slightly moderates but remains robust overall.
- Other Countries Segment
- The non-U.S. segment also exhibits steady growth, albeit from a much lower base than the U.S. The recorded value climbs from $10,669 thousand in 2020 to $142,637 thousand by 2025. The growth pace is relatively moderate initially but accelerates noticeably beginning in 2022 through 2024. The year-over-year increases suggest expanding investment or asset accumulation internationally, with a particularly sharp rise from 2021 to 2023. The rate of increase tapers marginally in the final year observed.
- Total Property and Equipment and Right-of-Use Assets
- The combined total shows a significant increase over the six-year span, more than six times its initial value. Starting at $136,078 thousand in 2020, total assets rise steadily each year to $831,403 thousand in 2025. This overall growth largely reflects the dominant contribution from the U.S. segment, supplemented by a smaller but accelerating increase from other countries. The total asset base expansion indicates ongoing capital investment and leasing commitments to support operations globally.
In summary, the data highlights robust and continuous growth in property, equipment, and operating lease rights assets, with the United States as the primary driver. International assets have also increased substantially, reflecting geographic diversification or expansion. The steady upward trajectory in total assets suggests a strategic focus on scaling physical and leased infrastructure over this period.