Is the business good?
How good a business is GTLB?
GitLab Inc. earns −6.3% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
−6.3%
Return on invested capital · cost of capital 9.0% · 15 points below what the capital costs: growth destroys value
- Operating margin
- −5.1%
Operating margin · Software - Infrastructure median 6.1% · 12 months to Q1 2027
- Share count, year on year
- +3.3%
Share count, year on year · shareholders own a smaller slice than a year ago
- R&D as % of revenue
- 28%
R&D as % of revenue
| Year | Operating margin |
|---|---|
| FY2021 | −141% |
| FY2022 | −51% |
| FY2023 | −50% |
| FY2024 | −32% |
| FY2025 | −19% |
| FY2026 | −7.4% |
Details›
- Gross margin12 months to Q1 2027
- 87%
- Operating margin12 months to Q1 2027
- −5.1%
- Net margin12 months to Q1 2027
- −2.5%
- Free cash flow margin
- 26%
- R&D as % of revenue
- 28%
- Revenue, trailing twelve months
- $1.00B
- Free cash flow, trailing twelve months
- $263M
- Net income, trailing twelve months
- −$25M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- −6.3%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Software - Infrastructure
Ranks #19 of 78 by Smart Score