AVPTAvePoint, Inc.
Is the business good?
A genuinely good business: earnings fully cash-backed (2.9×) and margins widening.
Mixed fundamental signals. Nine pass/fail tests of year-over-year health from the filings.
Operating profit is fully backed by cash. Conversion is worsening vs a year ago.
Positive operating leverage, operating profit is growing faster than sales, so margins widen as the business scales.
Margin-driven, fat margins on slower asset turns. ROE 9% = margin × turnover × leverage.
Unless marked, from derived.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is AVPT?
AvePoint, Inc. keeps 9.8% of every revenue dollar as operating profit, against 5.8% for the median Software - Infrastructure name.
Operating margin · Software - Infrastructure median 5.8% · 12 months to Q2 2026
- Cash conversion
- 2.91×
Cash conversion · 4.74× a year ago · operating cash flow covers the operating profit after tax
- Share count, year on year
- −3.6%
Share count, year on year · bought back, each share owns more of the company
- R&D as % of revenue
- 12%
R&D as % of revenue
| Year | Operating margin |
|---|---|
| FY2020 | −10% |
| FY2021 | −28% |
| FY2022 | −18% |
| FY2023 | −5.7% |
| FY2024 | 2.2% |
| FY2025 | 7.9% |
Details›
- Gross margin12 months to Q2 2026
- 73%
- Operating margin12 months to Q2 2026
- 9.8%
- Net margin12 months to Q2 2026
- 15%
- Free cash flow margin
- 22%
- R&D as % of revenue
- 12%
- Revenue, trailing twelve months
- $466M
- Free cash flow, trailing twelve months
- $101M
- Net income, trailing twelve months
- $71M
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Software, Infrastructure
Ranks #73 of 80 by RyuScore