CrowdStrike Holdings Inc. (NASDAQ:CRWD)

The analysis of the financial ratios over the observed periods reveals several important trends and fluctuations.

Net Fixed Asset Turnover

This ratio, which measures the efficiency of fixed asset utilization to generate sales, showed initial growth from 3.54 in January 2020 to a peak of 5.57 in April 2022. Subsequently, it experienced a gradual decline, stabilizing around the 5.0 mark in the latter periods up to April 2025. This pattern indicates an improvement in fixed asset efficiency followed by a slight reduction, potentially pointing to changes in asset base or sales volume.

Net Fixed Asset Turnover (Including Operating Lease, Right-of-Use Asset)

Incorporating operating leases and right-of-use assets, this adjusted ratio started at the same 3.54 in January 2020 but rose more moderately to reach a peak of 4.97 in April 2022. After peaking, it also showed a downward adjustment, trending towards the mid-4.7 range by the end of the period. The lower values compared to the unadjusted turnover suggest the impact of including leased assets in the asset base, affecting turnover efficiency calculations.

Total Asset Turnover

The ratio indicating overall asset efficiency in generating sales showed fluctuation with an increase from 0.34 in April 2020 to 0.46 by April 2023. There were occasional dips, notably a decline to 0.32 in April 2020, followed by recovery and a general upward trend peaking around 0.49 between July and October 2024. Towards the end of the observed periods, the ratio declined slightly to about 0.45. This reflects moderate improvements in asset use effectiveness with some variability likely due to changes in sales or asset base size.

Equity Turnover

Equity turnover increased substantially from 0.65 in April 2020 to a high of approximately 1.55 in January 2023, indicating improved efficiency in generating revenue from equity investments. After this peak, a consistent decline occurred, with the ratio falling back to about 1.20 by April 2025. This pattern may suggest decreasing sales relative to equity or changes in capital structure and leverage over time.

Overall, the financial ratios reflect initial phases of increasing operational efficiency and asset utilization, reaching peak efficiency levels around early to mid-2022. Subsequent slight declines in asset and equity turnover ratios towards 2025 indicate potential shifts in business activity, asset investments, or market conditions affecting revenue generation relative to fixed assets and equity.

The financial data over the indicated periods reveals several notable trends regarding revenue, property and equipment net value, and net fixed asset turnover.

Revenue

Revenue has demonstrated a consistent and substantial upward trajectory from April 2019 through April 2025. Starting at approximately $96 million in April 2019, it has increased steadily to reach over $1.1 billion by April 2025. This growth reflects strong and sustained business expansion over the six-year period, with no indications of decline or plateauing within the presented data.

Property and Equipment, Net

The net value of property and equipment also shows a robust increasing trend, beginning near $86 million in April 2019 and rising sharply to over $826 million by April 2025. This indicates significant investments in fixed assets, likely to support ongoing operational growth and capacity enhancement. The progression is relatively steady, with some acceleration noted particularly from 2022 onwards, suggesting intensified capital expenditure in recent years.

Net Fixed Asset Turnover

Net fixed asset turnover, which measures the efficiency of asset utilization in generating revenue, is only available from January 2020 onwards. Initially, it shows a rising trend, increasing from 3.54 to a peak above 5.5 between early 2021 and 2022. Following this peak, the ratio experiences a slight decline but remains relatively stable in the range of approximately 4.5 to 5.4 through April 2025. This indicates that despite rapidly growing asset bases, the company is generally maintaining efficient use of fixed assets to produce revenue. However, the modest dip after the peak suggests slight relative decreases in turnover efficiency as assets continue to accumulate.

Overall, the data suggest aggressive investment in property and equipment to support continued revenue growth. While revenue and asset bases expand significantly, the company maintains a relatively efficient conversion of fixed assets into revenue, reflecting effective operational management amid scaling. Monitoring trends in net fixed asset turnover remains important to ensure that asset growth continues to align with revenue generation capacity.

The data reveals consistent growth in revenue over the periods analyzed. Starting at approximately $96 million in the second quarter of 2019, revenue exhibits a steady upward trajectory, reaching over $1.1 billion by the second quarter of 2025. This growth suggests a strong and expanding market presence or increasing sales volume during the timeframe.

Concurrently, the net value of property and equipment, including operating lease right-of-use assets, also increases significantly. Beginning around $86 million in the second quarter of 2019, this figure climbs steadily to about $865 million by the second quarter of 2025. The consistent investment in property and equipment indicates ongoing capital expenditure likely aimed at supporting operational capacity or technological infrastructure.

The net fixed asset turnover ratio, which measures the efficiency of fixed assets in generating revenue, shows some variability but generally maintains a positive trend. This ratio starts from a calculated point around 3.54 in early 2020, fluctuating modestly between approximately 3.22 and 5.06 in subsequent quarters. Despite these fluctuations, the ratio remains above 4 for most of the later periods, indicating an overall efficient use of fixed assets in producing revenue.

Revenue

Steady and robust growth over the full period, increasing more than tenfold from 2019 to 2025.

Property and Equipment, Net

Continuous and substantial investment in fixed assets, rising roughly tenfold alongside revenue growth.

Net Fixed Asset Turnover Ratio

Generally stable and indicating increasing efficiency, with a ratio mostly above 4 from mid-2020 onward, suggesting effective utilization of increased property and equipment assets to drive revenue.

Overall, the data points to a company expanding both its revenue base and asset investments simultaneously, while maintaining and improving asset efficiency. This performance pattern reflects a balanced growth strategy, combining increased operational scale with asset productivity.

The quarterly financial data reveals a consistent upward trend in revenue over the reported periods. Starting from approximately 96 million US dollars in April 2019, revenue exhibits steady growth each quarter, reaching over 1.1 billion US dollars by April 2025. This indicates sustained expansion in the company’s core business activities.

Total assets follow a similar growth trajectory, increasing notably from around 457 million US dollars in April 2019 to nearly 8.7 billion US dollars by April 2025. This substantial rise in total assets suggests continued investments in resources and capacity expansion aligned with the growth in operations.

The total asset turnover ratio, available intermittently from October 2019 onward, demonstrates moderate fluctuations but remains within a narrow range between approximately 0.32 and 0.49. Although the ratio started at 0.34, it shows a general upward movement, peaking near 0.49 in several quarters. This indicates an improving efficiency in utilizing assets to generate revenue, implying better asset management or increasing operational effectiveness over time.

Revenue Trends

The data reflects a consistent quarter-over-quarter increase in revenue, nearly a twelvefold increase from the starting to the ending period, demonstrating strong market demand and successful revenue generation strategies.

Total Assets Growth

Total assets have expanded significantly, growing almost twentyfold over the examined timeframe, indicating aggressive asset acquisition or capital expenditure supporting expanding operational capacity and strategic initiatives.

Total Asset Turnover Ratio

This ratio fluctuates but displays a slight improving trend, suggesting more efficient revenue generation from existing assets as the company scales. The ratio's range within 0.32 to 0.49 indicates moderate efficiency levels typical for companies undergoing rapid growth phases.

Revenue Trends

The revenue series shows a consistent upward trend from April 2019 through April 2025. Initial revenues stood at approximately $96 million in April 2019 and steadily increased each quarter to reach above $1.1 billion by April 2025. This indicates strong and sustained growth over the period, with no periods of revenue decline or stagnation observed.

Stockholders’ Equity Trends

Total stockholders’ equity shows significant growth over the timeframe, beginning at approximately $73 million in April 2019 and reaching upwards of $3.4 billion by April 2025. There is, however, a notable anomaly between the first two reported periods, where equity appears to have jumped abruptly, which might be due to accounting restatements or reporting adjustments. Subsequent quarters exhibit a more stable and steadily increasing equity base, consistent with the expanding business scale as reflected by revenue growth.

Equity Turnover Ratio Trends

The equity turnover ratio, calculable from January 2020 onwards, generally shows an increasing trend from 0.65 up to a peak of 1.55 around October 2022. This suggests improving efficiency in generating revenue from equity during this period. After reaching the peak, the ratio exhibits a gradual decline down to approximately 1.20 by April 2025, indicating a potential reduction in revenue generation efficiency relative to equity. Despite the decline, the ratio remains higher than initial levels, implying sustained operational improvement compared to the start of the measurement.

Interrelationship Observations

The simultaneous increase in revenue and equity suggests reinvestment or accumulation of earnings, supporting business expansion. The equity turnover ratio’s initial rise followed by a moderate decline may reflect the company’s scaling phase where rapidly increasing revenue did not immediately translate linearly to equity growth. The later downward trend might indicate either slower revenue growth relative to equity growth or strategic equity increases, such as capital injections or asset accumulation.

Overall Summary

The data reveals robust growth in revenue and a substantial increase in equity over the analyzed periods. The equity turnover ratio points to an initially improving revenue efficiency that moderates in later years, which is typical in maturing companies. The consistent upward trends in core financial metrics denote a positive development trajectory with potential shifts in operational dynamics as implied by the turnover ratio variations.