Navan NAVN

Software - Infrastructure, Technology

$26.96

+3.57%

Market cap: $7B
PE: n/m; a loss over the last year
Forward PE: n/m; not a meaningful number
Price to sales: 8.5×
EV/EBIT: n/m; a loss over the last year
Revenue, 12 months: $825.9M; +35% on a year ago
Net margin: −42.1%
Free cash flow yield: 0.6%

Navan trades at 8.5× sales. Its trailing earnings are negative, so it has no PE. Revenue was $825.9M over the last twelve months, up 35% on a year earlier with a −42% net margin.

Charts

Financials

Income statement for NAVN, by quarter
Income statement	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26	Q3 FY26	Q4 FY26	Q1 FY27	Q2 FY27
	$151.1M	$132M	$157.5M	$172M	$194.9M+29%	$177.9M+35%	$220.2M+40%	$232.8M+35%
Cost of revenue	$44.5M	$42.7M	$45.7M	$46.9M	$57.1M+28%	$52.1M+22%	$57.2M+25%	$60.3M+29%
Gross profit	$106.6M	$89.2M	$111.8M	$125M	$137.9M+29%	$125.8M+41%	$163.1M+46%	$172.5M+38%
R&D	$33M	$31.6M	$31.4M	$33.4M	$51.2M+55%	$35.3M+12%	$39.4M+26%	$47.2M+42%
SG&A	$93.1M	$90.5M	$96.3M	$103.9M	$165.9M+78%	$180M+99%	$141.8M+47%	$153M+47%
	−$19.5M	−$32.8M	−$15.9M	−$12.3M	−$79.2M+307%	−$89.5M+173%	−$18.1M+14%	−$25.6M+109%
Interest expense	$19.7M	$18.5M	$16.3M	$15.6M	$15.5M−21%	$3.8M−80%	$2.8M−83%	$2.9M−81%
Pre-tax income	−$36.7M	−$46.5M	−$56.8M	−$35.1M	−$221.9M+505%	−$82.2M+77%	−$19.7M−65%	−$26.3M−25%
	$5.2M	$105K	$4.5M	$3.6M	$3.5M−33%	−$9.4M	$802K−82%	$2.8M−20%
Net income	−$41.9M	−$46.7M	−$61.3M	−$38.6M	−$225.4M+438%	−$72.8M+56%	−$20.5M−67%	−$29.1M−25%
	−$0.92	−$1.03	−$1.33	−$0.83	−$4.58+398%	−$0.29−72%	−$0.08−94%	−$0.11−87%
	45.3M	45.5M	46.1M	46.5M	49.3M+9%	248.9M+448%	250.3M+442%	256.4M+451%

EPS, diluted: Q4 FY25 and Q4 FY26: quarter's net income to common over its shares, to the cent.

Diluted shares: Q4 FY25 and Q4 FY26: a loss quarter: its basic count, share-days: the 12-month average less the 9-month, weighted by days.

From each company's 10-Q and 10-K filings, the newest version of each figure. Quarters are as filed (a fourth quarter is the year less its first nine months), fiscal years as the 10-K prints them, restated where a later 10-K restated them, and balance sheet lines as of the period's end. A quarter whose 10-Q isn't filed yet is from the company's results release. Growth is on the same period a year earlier. A dash is a period with no figure for the line: the filing doesn't print it, or it hasn't been read yet.

Peers

Companies in Software - Infrastructure nearest Navan's size, closest first.

Company	Market cap	PE	Its 10y median PE	P/S	Revenue growth	Net margin
NAVNNavan	$7B	n/m	n/a	8.5×	+35%	−42.1%
CVLTCommvault Systems	$7B	108×	94.4×	5.8×	+15%	5.6%
OTEXOpen Text	$6.8B	10.8×	37.6×	1.3×	+2%	12.3%
PATHUiPath	$7.4B	21.1×	25.2×	4.3×	+15%	21.0%
APPFAppfolio	$7.5B	48.1×	79.4×	7.2×	+21%	15.1%
QLYSQualys	$7.5B	37.5×	50.1×	10.7×	+10%	29.4%
YOUClear Secure	$6.1B	30.9×	30.3×	6.1×	+20%	14.8%
SAICScience Applications International	$6.1B	17.0×	19.7×	0.8×	−1%	5.1%
BOXBox	$5.9B	62.6×	40.7×	4.8×	+10%	10.6%
DBXDropbox	$8.5B	21.0×	18.3×	3.4×	−0%	17.5%
ACIWACI Worldwide	$5.6B	25.6×	32.6×	3.1×	+7%	12.4%
Peer median	$6.9B	28.3×	35.1×	4.5×	+10%	13.6%