Fastly (FSLY) Stock Fundamentals, Analysis & Risk Signals

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

Fastly

NasdaqGS•Technology•Software - Application

$23.61-0.96(-0.04%)Market open

Market Cap

$3.87B

P/S

5.6x

P/B

3.9x

Fastly, Inc. operates an edge cloud platform for processing, serving, and securing its customer's applications in the United States, the Asia Pacific, Europe, and internationally. The edge cloud is a category of Infrastructure as a Service that enables developers to build, secure, and deliver digital experiences at the edge of the internet. The company offers network services to speed up and optimize the delivery of web and application traffic; content delivery network, such as dynamic site acceleration, origin shield, instant purge, surrogate keys, programmatic control, content compression, reliability features, fanout, domainr, modern protocols and performance services; staging environment; and video/ streaming solutions and services, including live streaming, live event monitoring, video on demand, cache reservation, and media shield. It also provides security solutions, such as DDoS protection, next-gen WAF, bot management, API and ATO protection, advanced rate limiting, privacy, and compliance services; load balancing; image optimization; and origin connect. In addition, the company offers professional services comprising managed and response security services; managed CDN; and support plans services. It serves customers operating in ecommerce, streaming media, gaming, digital publishing, and high tech to financial services industries. The company was formerly known as SkyCache, Inc. and changed its name to Fastly, Inc. in May 2012. Fastly, Inc. was incorporated in 2011 and is headquartered in San Francisco, California.

How this company scores

WeakMetricSide Score: 61/100

Grade capped at D — Interest coverage below 1× (-6.2x) — earnings cannot cover interest. Strongest: Growth (20/25); weakest: Balance Sheet & Red Flags (9/25).

Profitability15/25

Growth20/25

Balance Sheet & Red Flags9/25

Cash & Earnings Quality17/25

Strengths

Growing revenueRising free cash flowLow leverageConsistent free cash flow

Grade capped at D

Interest coverage below 1× (-6.2x) — 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 · 5.6x5y range 1.6x – 6.0x

Currently above its 20-quarter median.

P/B · 3.9x5y range 0.8x – 4.0x

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 -0.4x) — earnings may be inflated by non-cash items or aggressive accounting.

Price & Volume

Market Cap $3.87B

Metrics at a Glance

as of June 2026

Revenue & Profit

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

TTM Revenue: $687.17M
Q. Revenue: $183.32M
TTM EBITDA: $-15.09M
TTM Op. Income: $-82.21M
Q. Op. Income: $-14.43M
TTM Net Income: $-81.10M
Q. Net Income: $-15.59M
EPS: $-0.1
Shares Out.: $157.60M

$687.17M in TTM revenue grew 20.4% YoY, reaching $183.32M last quarter. TTM EBITDA of $-15.09M and TTM operating income of $-82.21M show growth is flowing through to the bottom line. However, net income is negative at $81.10M — 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: 63.3%
EBITDA Margin: 0.3%
Op. Margin: -7.9%
Net Margin: -8.5%

Op. margin of -7.9% is up 17.0% YoY — cost efficiency is improving. Net margin at -8.5% and gross margin of 63.3% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 68% — an improving trend.

Price Ratios

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

P/E Ratio: N/A
P/S Ratio: 5.6x
P/B Ratio: 3.9x

P/S of 5.6x and P/B of 3.9x.

Assets & Liabilities

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

Total Assets: $1.50B
Cash: $89.80M
Long-Term Debt: $323.96M
Book Value: $990.82M
D/E Ratio: 0.3
Debt/EBITDA: 571.4

With $1.50B in assets and $323.96M in long-term debt, D/E is 0.3and book value is $990.82M — 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: $39.33M
TTM Free Cash Flow: $50.68M
FCF Margin: 7.4%
FCF / Net Income: -0.6

TTM FCF of $50.68M on $39.33M in operating cash flow. The FCF / Net Income ratio of -0.6x means the business consumes cash — it is not yet self-funding. Across the last 8 quarters, free cash flow has fallen for 2 consecutive quarters — a weakening trend.