Elastic N.V. (ESTC) Stock Fundamentals, Analysis & Risk Signals

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

Elastic N.V.

NYSE•Technology•Software - Application

$85.32+0.15(<0.01%)Market open

Market Cap

$8.93B

P/E

23.8x

P/S

5.0x

P/B

6.9x

Elastic N.V., a search artificial intelligence (AI) company, provides software platforms to run in hybrid, public or private clouds, and multi-cloud environments in the United States and internationally. It primarily offers Elasticsearch Platform, a set of software products that ingest and store data from various sources and formats, as well as performs search, analysis, and visualization on that data. The company also provides Elastic search product a distributed, real-time vector database and analytics engine and data store for all types of data, including textual, numerical, geospatial, structured, and unstructured; Kibana, a user interface, management, and configuration interface for the platforms; Search & AI, a platform with retrieval algorithms and the ability to integrate with large language models; and elastic security, a security solution that provides unified protection to prevent, detect, and respond to threats. In addition, it offers Elastic Observability, a solution that brings unified datastore, including Logs analytics to search, analyze, and visualize petabytes of structured and unstructured logs; infrastructure monitoring to gain visibility across cloud, on-premises, Kubernetes, serverless, and hosts; Application Performance Monitoring to support native production-grade; digital experience monitoring; large language models; and Elastic Cloud, a cloud-based subscription offering such as Elastic Cloud Hosted and Elastic Cloud Serverless. The company was incorporated in 2012 and is based in Amsterdam, the Netherlands.

How this company scores

WeakMetricSide Score: 70/100

Grade capped at D — Interest coverage below 1× (-1.9x) — earnings cannot cover interest. Strongest: Growth (24/25); weakest: Profitability (14/25).

Profitability14/25

Growth24/25

Balance Sheet & Red Flags17/25

Cash & Earnings Quality15/25

Strengths

Growing revenueHigh ROERising earningsLow leverage

Grade capped at D

Interest coverage below 1× (-1.9x) — earnings cannot cover interest.

Valuation vs. 5-year range

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

P/E · 23.8x5y range 13.4x – 217.3x

Currently below its 6-quarter median.

P/S · 5.0x5y range 2.8x – 21.8x

Currently near its 20-quarter median.

P/B · 6.9x5y range 3.9x – 35.6x

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 -2.3x) — earnings may be inflated by non-cash items or aggressive accounting.

Price & Volume

Market Cap $8.93B

Metrics at a Glance

as of July 2026

Revenue & Profit

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

TTM Revenue: $1.80B
Q. Revenue: $478.11M
TTM EBITDA: $-44.61M
TTM Op. Income: $-47.61M
Q. Op. Income: $-23.57M
TTM Net Income: $375.64M
Q. Net Income: $-16.73M
EPS: $-0.16
Shares Out.: $104.64M

$1.80B in TTM revenue grew 16.2% YoY, reaching $478.11M last quarter. TTM EBITDA of $-44.61M and TTM operating income of $-47.61M show growth is flowing through to the bottom line. TTM net income of $375.64M means revenue is converting into profit. 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: 74.5%
EBITDA Margin: -4.8%
Op. Margin: -4.9%
Net Margin: -3.5%

Op. margin of -4.9% is down 2.7% YoY — costs are rising relative to revenue. Net margin at -3.5% and gross margin of 74.5% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has fallen for 2 consecutive quarters — a weakening trend.

Price Ratios

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

P/E Ratio: 23.8x
P/S Ratio: 5.0x
P/B Ratio: 6.9x

At 23.8x P/E, the stock trades within typical market levels. P/S of 5.0x and P/B of 6.9x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is up 0% — a weakening trend.

Assets & Liabilities

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

Total Assets: $3.00B
Cash: $879.87M
Long-Term Debt: $571.20M
Book Value: $1.30B
D/E Ratio: 0.4
Debt/EBITDA: N/A

With $3.00B in assets and $571.20M in long-term debt, D/E is 0.4and book value is $1.30B — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 2 consecutive quarters — an improving trend.

Cash Flow

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

Op. Cash Flow: $132.00M
TTM Free Cash Flow: $349.04M
FCF Margin: 19.4%
FCF / Net Income: 0.9

TTM FCF of $349.04M on $132.00M in operating cash flow. The FCF / Net Income ratio of 0.9x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 2 consecutive quarters — an improving trend.