CrowdStrike Holdings Inc. (NASDAQ:CRWD)

The analysis of the financial ratios over the indicated periods reveals several notable trends and fluctuations that provide insight into the company's valuation metrics relative to earnings, operating profit, sales, and book value.

Price to Earnings (P/E) Ratio

Data for the P/E ratio is available only from January 31, 2024, onwards. During this timeframe, the P/E ratio demonstrates significant volatility, starting at a very high level of approximately 892.67, then decreasing to around 632.51, followed by a further decline to approximately 391.27. However, it rises again to 675.68. This pattern suggests fluctuating market expectations for profitability or earnings changes, with a generally very high valuation relative to earnings.

Price to Operating Profit (P/OP) Ratio

Information on the P/OP ratio is sparse, with values provided only near mid periods starting in 2024. It shows an exceptionally high value of 3413.25 in the July 2024 period, followed by a decrease to 1246.42 in October 2024. These very elevated ratios indicate the market prices the company at substantial premiums over its operating profits during these periods.

Price to Sales (P/S) Ratio

The P/S ratio is tracked extensively from April 2020 through October 2025. Early periods (2020) show high ratios within the range of approximately 37.61 to 54.14, indicating strong valuation relative to sales. There is then a sustained general downward trend from early 2021 through 2022, reaching lows near 12.81 to 15.27. From late 2022 onward, the ratio fluctuates but tends to trend upward again, peaking around 28.95 in October 2025. This long-term pattern suggests an initial premium valuation that softens significantly, possibly due to sales growth acceleration or market valuation adjustments, followed by partial recovery in pricing relative to sales.

Price to Book Value (P/BV) Ratio

The P/BV ratio follows a similar temporal coverage as the P/S ratio. Starting at 28.17 in April 2020, it rises steadily to a peak of 68.13 in July 2021, indicating expanding market capitalization relative to net asset value. Following this peak, the ratio declines substantially, hitting values near 19.61 to 23.27 around late 2022 and early 2023, which reflects a contraction in valuation versus book value. From early 2023 onwards, the ratio shows moderate fluctuations and a gradual recovery trend, reaching approximately 32.9 by October 2025. This trend may reflect changes in market sentiment or balance sheet developments over time.

Overall, the company's valuation multiples exhibit volatility with periods of elevated premiums followed by corrections or adjustments. The P/S and P/BV ratios indicate an initial phase of high investor expectations followed by a correction and moderate recovery, while the limited data on P/E and P/OP ratios point to extremely high relative valuations in recent quarters. Such patterns may warrant further investigation into underlying earnings performance, sales growth, profitability trends, and market dynamics influencing investor sentiment over the analyzed periods.

Share Price

The share price exhibited a significant upward trajectory from April 2020 through July 2021, rising from $98.10 to a peak near $270. This was followed by a period of volatility and decline throughout late 2021 and into 2022, with the price reaching lows around $117 in October 2022. Subsequently, the share price experienced another strong rally starting in early 2023, reaching new highs above $500 by late 2025. Overall, the trend reveals cycles of marked appreciation interrupted by periods of correction, culminating in a substantial increase over the entire timeframe.

Earnings Per Share (EPS)

EPS showed consistent negative values from April 2020 through the majority of 2023, reflecting losses with a gradual worsening from approximately -$0.63 to near -$0.78. Beginning in early 2023, EPS improved notably, transitioning into positive territory by January 2024 and peaking around $0.69 in mid-2024. However, this positive phase was short-lived, as EPS again declined, becoming negative and reaching approximately -$1.25 by late 2025. The EPS pattern indicates volatility in profitability, with temporary improvements followed by a reversion to losses.

Price to Earnings (P/E) Ratio

The P/E ratio data is sparse and only available from early 2024 onward. During this period, the ratio was extremely elevated, starting near 893 and declining steadily to approximately 391 by late 2024 before rising again. These very high P/E values suggest that the share price remained high relative to earnings, reflecting market optimism or anticipated future growth despite earnings volatility.

Summary of Observations

The company's share price exhibited considerable growth overall, punctuated by volatile phases and corrections. Earnings per share followed a predominantly negative trend for most of the observed timeframe, with brief periods of profitability not sustained long term. The available P/E ratios indicate that investors maintained high valuations relative to earnings during the positive EPS phase, suggesting high growth expectations. The interplay of these factors highlights a dynamic financial profile with significant market confidence despite ongoing profitability challenges.

Share Price Trend

The share price exhibited an overall upward trajectory from April 2020 to October 2025. Initially, it increased steadily from $98.10 in April 2020 to a peak of $269.97 in July 2021. Thereafter, the price experienced some volatility, with notable declines and recoveries, such as a decrease to $117.65 in October 2022 followed by a subsequent rise to $329.68 by January 2024. From January 2024 to October 2025, the share price continued growing, reaching as high as $524.17 by the end of the period. Despite some fluctuations, the general trend indicates increasing investor confidence and valuation over the observed quarters.

Operating Profit Per Share (OPPS) Trend

The operating profit per share consistently remained negative from April 2020 through October 2025, indicating that the company experienced operating losses per share throughout the entire period. The magnitude of losses generally decreased over time, moving from a low of -$0.81 in January 2023 to reach a near break-even point of -$0.01 in January 2024. Notably, in July and October 2024, a positive operating profit per share was recorded ($0.10 and $0.22 respectively), suggesting a temporary improvement in operational profitability. However, from January 2025 onward, losses deepened again, reaching -$1.56 by October 2025, implying increasing operational challenges in the later quarters.

Price to Operating Profit (P/OP) Ratio

The P/OP ratio was not consistently disclosed across all periods, with data points available only in 2024. In January 2024 and April 2024, an extraordinarily high ratio of 3413.25 and 1246.42 respectively was observed, reflecting a situation where the operating profit per share was extremely low or near zero, leading to inflated valuation multiples. The absence of consistent data restricts a comprehensive assessment, but the available figures suggest that market valuations were high relative to operating profitability during that period.

Overall Financial Insights

The data illustrates a company experiencing growth in market valuation despite persistent operating losses per share. The share price growth could be attributed to market expectations of future profitability or growth potential. The temporary improvement in operating profit per share around early 2024 was short-lived, followed by a reversion to operating losses. The high P/OP ratio in early 2024 underscores the disparity between share price and operational earnings during that time. The subsequent increase in losses towards the end of the period warrants attention to operational efficiency and cost management strategies.

The analysis of the quarterly financial data reveals several notable trends concerning share price, sales per share, and the price-to-sales (P/S) ratio over the observed periods.

Share Price

The share price exhibited a general upward trajectory from April 2020 through July 2021, rising from 98.1 US$ to a peak of 269.97 US$. Following this peak, the price experienced a decline toward early 2023, reaching a low point of approximately 117.65 US$ in October 2022. Subsequently, there was a significant recovery with a consistent increase, peaking at 524.17 US$ by October 2025. This overall pattern shows volatility with notable troughs and peaks but an overall substantial appreciation over the five-year span.

Sales Per Share

Sales per share demonstrated a steady, consistent increase over the entire period. Starting at 2.61 US$ in April 2020, it rose incrementally each quarter, reaching 18.11 US$ by October 2025. This indicates continuous growth in sales performance and revenue generation on a per-share basis, reflecting increasing business scale or improved sales efficiency.

Price-to-Sales (P/S) Ratio

The P/S ratio displayed high variability across the quarters. Initially, it started at a high level of 37.61 in April 2020 and experienced further elevations, hitting a maximum of 54.14 in July 2021. Post this peak, the ratio underwent a sharp decline reaching values as low as 12.81 in January 2023, which corresponds closely to the period of reduced share price despite rising sales. After this trough, the ratio recovered and fluctuated thereafter between 19 and 28, indicating periods of market revaluation relative to sales growth. The swings suggest changing market perceptions of the company's valuation in relation to its sales at different times.

In summary, the financial data presents a profile of robust sales growth coupled with sizable fluctuations in market valuation indicated by the share price and P/S ratio. The steady sales improvement suggests strong operational performance, while the volatility in share price and P/S ratio points to varying investor sentiment or external market factors influencing valuation multiples over time.

The analysis of the financial data reveals several notable trends regarding the company's share price, book value per share (BVPS), and price-to-book value ratio (P/BV) over the observed periods.

Share Price

The share price demonstrated a strong upward trajectory from April 2020 to July 2021, increasing from approximately $98.1 to a peak near $269.97. This was followed by a period of volatility, characterized by notable declines and recoveries between July 2021 and October 2022, with prices fluctuating around the $117 to $182 range. Starting early 2023, the share price began a sustained rise, reaching its highest value observed at about $524.17 by October 2025. This late surge suggests renewed investor confidence or improved company prospects during the most recent periods.

Book Value per Share (BVPS)

BVPS showed consistent and steady growth throughout the entire period analyzed. Beginning at $3.48 in April 2020, it rose incrementally each quarter to reach $15.93 by October 2025. This steady increase indicates that the company's net asset value per share has been improving continuously, reflecting ongoing accumulation of equity or retained earnings.

Price-to-Book Value Ratio (P/BV)

The P/BV ratio exhibited more variability across the periods. Initially, it rose sharply from 28.17 in April 2020 to a peak of 68.13 in July 2021, indicating that the market price was valued significantly higher than the book value per share. Following this peak, the ratio declined substantially to levels between approximately 19 and 35 from late 2021 through mid-2025. The ratio's trend generally mirrored fluctuations in share price since BVPS increased steadily. The decline from the mid-2021 peak may reflect market adjustments or valuation normalization after periods of elevated speculation. Notably, despite the share price reaching new highs in 2024-2025, the P/BV ratio did not return to the prior peak levels, suggesting that the increase in share price was supported by the underlying book value growth, leading to relatively more balanced valuations compared to earlier periods.

In summary, the data indicates that while the company's book value per share has steadily increased, the market's valuation relative to book value has fluctuated more significantly. The initial surge and subsequent correction in the P/BV ratio imply episodes of heightened market enthusiasm tempered by later moderation. The recent strong rise in share price alongside continued book value growth points to a potentially robust underlying performance or improved market perception as of the latest periods.