Asana (ASAN) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Asana

NYSE•Technology•Software - Application

$9.65+0.15(0.02%)Pre-market

Market Cap

$2.33B

P/S

2.8x

P/B

22.3x

Asana, Inc., together with its subsidiaries, operates a work management software platform for individuals, team leads, and executives in the United States and internationally. The company provides work management products; Asana Work Graph, a proprietary data model that maps; AI Teammates, collaborative AI agents that work like real teammates to accelerate outcomes; Asana AI Studio, is a complementary product for designing AI workflows to automate routine, structured, and repeatable processes; and Asana Gov, a secure platform designed for government agencies and regulated industries to deliver mission-critical programs. The company also offers a platform that supports project and process management, goals and business reporting, resource management, and strategic planning and portfolio management. The company uses a hybrid go-to-market approach, combining a product-led model, direct sales, and channel partners to serve customers in various industries, such as technology, retail, education, non-profit, government, healthcare, hospitality, media, manufacturing, professional services, and financial services. The company was formerly known as Smiley Abstractions, Inc. and changed its name to Asana, Inc. in July 2009. Asana, Inc. was incorporated in 2008 and is headquartered in San Francisco, California.

How this company scores

WeakMetricSide Score: 58/100

Grade capped at D — Interest coverage below 1× (-62.2x) — earnings cannot cover interest. Strongest: Growth (18/25); weakest: Balance Sheet & Red Flags (12/25).

Profitability12/25

Growth18/25

Balance Sheet & Red Flags12/25

Cash & Earnings Quality16/25

Strengths

Rising free cash flowLow leverageProfit converts from growthConsistent growth

Grade capped at D

Interest coverage below 1× (-62.2x) — earnings cannot cover interest.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/S · 2.8x5y range 1.9x – 6.8x

Currently below its 20-quarter median.

P/B · 22.3x5y range 6.2x – 24.8x

Currently above its 20-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

FCF consistently trails net income (avg -0.7x) — earnings may be inflated by non-cash items or aggressive accounting.

Price & Volume

Market Cap $2.33B

Metrics at a Glance

as of July 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $828.13M
Q. Revenue: $216.43M
TTM EBITDA: $-136.23M
TTM Op. Income: $-160.43M
Q. Op. Income: $-41.22M
TTM Net Income: $-154.24M
Q. Net Income: $-39.19M
EPS: $-0.17
Shares Out.: $230.82M

$828.13M in TTM revenue grew 9.5% YoY, reaching $216.43M last quarter. TTM EBITDA of $-136.23M and TTM operating income of $-160.43M show growth is flowing through to the bottom line. However, net income is negative at $154.24M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 86.0%
EBITDA Margin: -16.2%
Op. Margin: -19.0%
Net Margin: -18.1%

Op. margin of -19.0% is up 6.1% YoY — cost efficiency is improving. Net margin at -18.1% and gross margin of 86.0% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 24% — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 2.8x
P/B Ratio: 22.3x

P/S of 2.8x and P/B of 22.3x.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $816.15M
Cash: $219.56M
Long-Term Debt: $37.06M
Book Value: $104.32M
D/E Ratio: 0.4
Debt/EBITDA: N/A

With $816.15M in assets and $37.06M in long-term debt, D/E is 0.4and book value is $104.32M — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has risen for 5 consecutive quarters — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $46.05M
TTM Free Cash Flow: $123.89M
FCF Margin: 15.0%
FCF / Net Income: -0.8

TTM FCF of $123.89M on $46.05M in operating cash flow. The FCF / Net Income ratio of -0.8x means the business consumes cash — it is not yet self-funding. Across the last 8 quarters, free cash flow has risen for 7 consecutive quarters — an improving trend.