Stock Analysis on Net

CrowdStrike Holdings Inc. (NASDAQ:CRWD)

Enterprise Value to FCFF (EV/FCFF) 

Microsoft Excel

Free Cash Flow to The Firm (FCFF)

CrowdStrike Holdings Inc., FCFF calculation

US$ in thousands

Microsoft Excel
12 months ended: Jan 31, 2024 Jan 31, 2023 Jan 31, 2022 Jan 31, 2021 Jan 31, 2020
Net income (loss) attributable to CrowdStrike 89,327 (183,245) (234,802) (92,629) (141,779)
Net income attributable to non-controlling interest 1,258 960 2,424
Net noncash charges 1,024,096 802,851 485,439 262,676 143,014
Changes in operating assets and liabilities, net of impact of acquisitions 51,526 320,441 321,723 186,519 98,708
Net cash provided by operating activities 1,166,207 941,007 574,784 356,566 99,943
Interest paid, net of tax1 16,596 17,815 217 14 6
Purchases of property and equipment (176,529) (235,019) (112,143) (52,799) (80,198)
Capitalized internal-use software and website development costs (49,457) (29,095) (20,866) (10,864) (7,289)
Purchases of intangible assets (11,126) (2,323) (680) (180)
Free cash flow to the firm (FCFF) 945,691 692,385 441,312 292,737 12,462

Based on: 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).

Item Description The company
FCFF Free cash flow to the firm is the cash flow available to the CrowdStrike Holdings Inc. suppliers of capital after all operating expenses have been paid and necessary investments in working and fixed capital have been made. CrowdStrike Holdings Inc. FCFF increased from 2022 to 2023 and from 2023 to 2024.

Interest Paid, Net of Tax

CrowdStrike Holdings Inc., interest paid, net of tax calculation

US$ in thousands

Microsoft Excel
12 months ended: Jan 31, 2024 Jan 31, 2023 Jan 31, 2022 Jan 31, 2021 Jan 31, 2020
Effective Income Tax Rate (EITR)
EITR1 26.24% 21.00% 21.00% 21.00% 21.00%
Interest Paid, Net of Tax
Interest paid, before tax 22,500 22,551 275 18 7
Less: Interest paid, tax2 5,904 4,736 58 4 1
Interest paid, net of tax 16,596 17,815 217 14 6

Based on: 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 See details »

2 2024 Calculation
Interest paid, tax = Interest paid × EITR
= 22,500 × 26.24% = 5,904


Enterprise Value to FCFF Ratio, Current

CrowdStrike Holdings Inc., current EV/FCFF calculation, comparison to benchmarks

Microsoft Excel
Selected Financial Data (US$ in thousands)
Enterprise value (EV) 70,431,988
Free cash flow to the firm (FCFF) 945,691
Valuation Ratio
EV/FCFF 74.48
Benchmarks
EV/FCFF, Competitors1
Accenture PLC 24.43
Adobe Inc. 30.35
Autodesk Inc. 45.57
Cadence Design Systems Inc. 59.66
International Business Machines Corp. 18.65
Intuit Inc. 36.70
Microsoft Corp. 48.67
Oracle Corp. 37.89
Palo Alto Networks Inc. 37.53
Salesforce Inc. 27.96
ServiceNow Inc. 69.79
Synopsys Inc. 52.62
EV/FCFF, Sector
Software & Services 44.27
EV/FCFF, Industry
Information Technology 52.79

Based on: 10-K (reporting date: 2024-01-31).

1 Click competitor name to see calculations.

If the company EV/FCFF is lower then the EV/FCFF of benchmark then company is relatively undervalued.
Otherwise, if the company EV/FCFF is higher then the EV/FCFF of benchmark then company is relatively overvalued.


Enterprise Value to FCFF Ratio, Historical

CrowdStrike Holdings Inc., historical EV/FCFF calculation, comparison to benchmarks

Microsoft Excel
Jan 31, 2024 Jan 31, 2023 Jan 31, 2022 Jan 31, 2021 Jan 31, 2020
Selected Financial Data (US$ in thousands)
Enterprise value (EV)1 77,040,232 26,759,359 42,522,195 41,404,219 10,058,246
Free cash flow to the firm (FCFF)2 945,691 692,385 441,312 292,737 12,462
Valuation Ratio
EV/FCFF3 81.46 38.65 96.35 141.44 807.14
Benchmarks
EV/FCFF, Competitors4
Accenture PLC 20.26 16.99 24.76 17.90
Adobe Inc. 37.75 20.82 33.61 40.43
Autodesk Inc. 36.00 20.48 27.63 41.13 23.38
Cadence Design Systems Inc. 63.83 44.54 35.05 44.13
International Business Machines Corp. 15.27 16.47 13.10 9.35
Intuit Inc. 36.79 31.28 32.85 48.64 37.90
Microsoft Corp. 49.30 41.75 32.31 38.37 33.99
Oracle Corp. 31.24 35.83 31.60 16.36 14.99
Palo Alto Networks Inc. 34.69 28.15 29.29 32.74 26.50
Salesforce Inc. 29.95 28.41 35.97 44.91 39.63
ServiceNow Inc. 56.49 40.86 60.13 83.74
Synopsys Inc. 55.87 30.82 38.59 42.88
EV/FCFF, Sector
Software & Services 35.33 29.55 32.31 27.29
EV/FCFF, Industry
Information Technology 34.60 27.28 28.23 24.25

Based on: 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 See details »

2 See details »

3 2024 Calculation
EV/FCFF = EV ÷ FCFF
= 77,040,232 ÷ 945,691 = 81.46

4 Click competitor name to see calculations.

Valuation ratio Description The company
EV/FCFF Enterprise value to free cash flow to the firm is whole company valuation indicator. CrowdStrike Holdings Inc. EV/FCFF ratio decreased from 2022 to 2023 but then increased from 2023 to 2024 not reaching 2022 level.