Explain this page
Arphra AIPlain-English read on C3.ai, Inc.’s valuationRatios & metrics
Profitability, returns on capital, growth, and credit — all derived from the historical income statement, balance sheet, and cash flow rows in our data warehouse.
Quality composite
BSolid
A snapshot of the latest fiscal year’s margins, returns on capital, balance-sheet strength and efficiency, computed from the income statement, balance sheet and cash-flow rows. Source income / balance / cash_flow.
Profitability
Gross margin30.9%
Operating margin-194.9%
Net margin-187.9%
ROE-71.9%
ROA-57.6%
ROIC-83.1%
Liquidity & leverage
Current ratio6.64×
Quick ratio6.64×
Debt / equity0.00×
Net debt / EBITDA0.14×
Interest coverage—
Efficiency & per-share
Asset turnover0.31×
Inventory days0
Days sales out.147
FCF / share$-1.36
Book value / share$4.65
Valuation multiples
Price- and EV-based multiples plus shareholder yields. Snapshot at each fiscal year-end from key_metrics (FMP).
ActualEstimate
| In USD | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|---|---|---|---|
| Headline | |||||||||
| Market cap | — | — | $2.69B | $2.84B | $1.24B | — | — | — | — |
| Enterprise value | — | — | $2.53B | $2.68B | $1.17B | — | — | — | — |
| Multiples | |||||||||
| P / E | — | — | — | — | — | — | — | — | — |
| P / B | — | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — |
| EV / Sales | — | — | 8.13 | 6.89 | 4.69 | — | — | — | — |
| EV / FCF | — | — | -27.94 | -60.34 | -6.16 | — | — | — | — |
| Yields | |||||||||
| Earnings yield | — | — | -10.40% | -10.16% | -37.91% | — | — | — | — |
| Free cash flow yield | — | — | -3.36% | -1.56% | -15.37% | — | — | — | — |
| Dividend yield | — | — | — | — | — | — | — | — | — |
Profitability
Margin structure across the last 5 fiscal years
ActualEstimate
| In USD | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|---|---|---|---|
| Margins | |||||||||
| Gross margin | +74.79% | +67.64% | +57.49% | +60.62% | +30.92% | +49.46% | +50.73% | +51.16% | +48.57% |
| Operating margin | -77.59% | -108.88% | -102.50% | -83.39% | -194.86% | -123.65% | -126.89% | -128.23% | -129.43% |
| EBITDA margin | -75.54% | -106.60% | -98.82% | -80.15% | -189.44% | -119.66% | -126.36% | -124.40% | -124.77% |
| EBIT margin | -77.59% | -108.88% | -102.50% | -83.39% | -194.86% | -130.04% | -130.59% | -125.90% | -125.43% |
| Pre-tax margin | -75.68% | -100.51% | -89.80% | -73.95% | -187.62% | -120.23% | -113.65% | -113.62% | -114.92% |
| Net margin | -75.99% | -100.77% | -90.06% | -74.21% | -187.95% | -117.54% | -116.11% | -117.64% | -114.62% |
| Cost structure | |||||||||
| Cost of revenue / sales | +25.21% | +32.36% | +42.51% | +39.38% | +69.08% | +51.09% | +49.49% | +51.35% | +49.20% |
| R&D intensity | +59.56% | +78.96% | +64.83% | +58.19% | +91.54% | +70.31% | +72.78% | +72.76% | +72.30% |
| SG&A intensity | +92.83% | +97.56% | +95.16% | +85.82% | +134.24% | +107.42% | +104.37% | +104.05% | +106.95% |
| Effective tax rate | — | — | — | — | — | — | — | — | — |
Returns on capital
ROE / ROA / ROC / ROIC over the relevant capital base, plus the 3-step DuPont decomposition of ROE.
ActualEstimate
| In USD | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|---|---|---|---|
| Returns | |||||||||
| Return on equity (ROE) | -19.41% | -28.92% | -32.03% | -34.44% | -71.95% | -45.92% | -45.00% | -47.36% | -44.23% |
| Return on assets (ROA) | -16.40% | -24.37% | -26.94% | -28.14% | -57.62% | -37.78% | -38.83% | -38.33% | -36.16% |
| Return on capital (ROC) | -19.75% | -31.17% | -36.32% | -38.48% | -74.60% | -48.16% | -49.03% | -51.45% | -49.80% |
| Return on invested capital (ROIC) | -14.81% | -23.38% | -27.24% | -28.86% | -55.95% | -36.12% | -36.77% | -38.59% | -37.35% |
| Asset turnover | +21.59% | +24.19% | +29.91% | +37.92% | +30.66% | +32.15% | +33.44% | +32.58% | +31.55% |
| DuPont · ROE decomposition | |||||||||
| Net margin | -75.99% | -100.77% | -90.06% | -74.21% | -187.95% | -117.54% | -116.11% | -117.64% | -114.62% |
| Asset turnover (× revenue / assets) | +21.59% | +24.19% | +29.91% | +37.92% | +30.66% | +32.15% | +33.44% | +32.58% | +31.55% |
| Equity multiplier (× assets / equity) | +118.33% | +118.65% | +118.88% | +122.38% | +124.86% | +121.52% | +115.89% | +123.55% | +122.30% |
Activity & efficiency
Turnover ratios and days-outstanding — how efficiently the business converts assets and working capital into sales and cash.
ActualEstimate
| In USD | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|---|---|---|---|
| Turnover | |||||||||
| Asset turnover | 0.22 | 0.24 | 0.30 | 0.38 | 0.31 | 0.32 | 0.33 | 0.33 | 0.32 |
| Fixed-asset turnover | 17.41 | 3.15 | 3.50 | 4.91 | 3.74 | — | — | — | — |
| Inventory turnover | -4.01 | — | — | — | — | — | — | — | — |
| Receivables turnover | 3.15 | 1.98 | 2.39 | 2.84 | 2.49 | — | — | — | — |
| Payables turnover | 1.18 | 3.51 | 11.67 | 10.11 | 31.38 | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 115.92 | 184.13 | 152.85 | 128.74 | 146.64 | — | — | — | — |
| Days inventory outstanding (DIO) | -91.01 | — | — | — | — | — | — | — | — |
| Days payables outstanding (DPO) | 310.60 | 104.04 | 31.29 | 36.12 | 11.63 | — | — | — | — |
| Cash conversion cycle | -285.70 | 80.08 | 121.57 | 92.62 | 135.01 | — | — | — | — |
Cash flow quality
How well reported earnings translate into operating and free cash flow, plus reinvestment intensity.
ActualEstimate
| In USD | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|---|---|---|---|
| Operating CF / Net income | 0.45 | 0.43 | 0.22 | 0.14 | 0.40 | 0.31 | 0.30 | 0.30 | 0.30 |
| FCF / Net income | 0.47 | 0.70 | 0.32 | 0.15 | 0.41 | 0.33 | 0.34 | 0.34 | 0.34 |
| FCF margin | -35.90% | -70.17% | -29.10% | -11.42% | -76.20% | -38.44% | -39.80% | -39.51% | -38.70% |
| OCF margin | -34.21% | -43.36% | -20.08% | -10.64% | -75.43% | -36.37% | -34.69% | -35.39% | -34.88% |
| CapEx / Revenue | +1.70% | +26.81% | +9.02% | +0.78% | +0.76% | +3.60% | +3.47% | +3.60% | +3.52% |
| CapEx / D&A | 0.83 | 11.75 | 2.20 | 0.24 | 0.14 | — | — | — | — |
| Stock-based comp / Revenue | +44.88% | +81.16% | +69.47% | +59.37% | 0.00% | — | — | — | — |
Per-share & shareholder yield
EPS, book value, sales, cash flow and dividends per share — plus payout / retention.
ActualEstimate
| In USD | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|---|---|---|---|
| EPS · diluted | -1.84 | -2.45 | -2.34 | -2.24 | -3.35 | -0.79 | -0.45 | -0.39 | 0.40 |
| EPS · basic | -1.84 | -2.45 | -2.34 | -2.24 | -3.35 | -0.80 | -0.45 | -0.39 | 0.41 |
| Book value / share | 9.48 | 8.46 | 7.32 | 6.49 | 4.65 | 4.12 | 4.50 | 4.80 | 31.08 |
| Tangible BV / share | 9.47 | 8.46 | 7.31 | 6.49 | 4.65 | 4.12 | 4.50 | 4.80 | 31.08 |
| Sales / share | 2.42 | 2.43 | 2.60 | 3.01 | 1.78 | 1.61 | 1.74 | 1.93 | 11.99 |
| Operating CF / share | -0.83 | -1.05 | -0.52 | -0.32 | -1.34 | -0.59 | -0.61 | -0.68 | -4.18 |
| Free cash flow / share | -0.87 | -1.70 | -0.76 | -0.34 | -1.36 | -0.62 | -0.69 | -0.76 | -4.64 |
| Dividends / share | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Payout ratio | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Retention ratio | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% |
Growth
Year-over-year change for headline P&L lines, plus through-cycle CAGR
ActualEstimate
| In USD | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | 2027E | 2028E | 2029E | 2030E | 8y CAGR |
|---|---|---|---|---|---|---|---|---|---|---|
| Top-line | ||||||||||
| Revenue · YoY | — | +5.55% | +16.41% | +25.27% | -35.67% | -10.39% | +10.07% | +9.28% | +523.02% | +26.72% |
| Gross profit · YoY | — | -4.54% | -1.05% | +32.09% | -67.19% | +43.36% | +12.88% | +10.22% | +491.45% | +20.06% |
| Profit | ||||||||||
| Operating income · YoY | — | -48.12% | -9.59% | -1.91% | -50.32% | +43.14% | -12.96% | -10.43% | -528.88% | — |
| EBITDA · YoY | — | -48.96% | -7.92% | -1.59% | -52.05% | +43.39% | -16.23% | -7.59% | -524.85% | — |
| Net income · YoY | — | -39.97% | -4.04% | -3.22% | -62.93% | +43.95% | -8.73% | -10.72% | -506.99% | — |
| Operating | ||||||||||
| EBIT · YoY | — | -48.12% | -9.59% | -1.91% | -50.32% | +40.20% | -10.53% | -5.36% | -520.68% | — |
| R&D · YoY | — | +39.93% | -4.41% | +12.43% | +1.19% | -31.17% | +13.93% | +9.25% | +519.13% | +29.83% |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | -33.15% | +4.49% | +4.27% | -49.55% | +76.50% | +42.72% | +12.75% | +201.70% | — |
| EPS · basic · YoY | — | -33.15% | +4.49% | +4.27% | -49.55% | +76.24% | +43.73% | +12.19% | +203.12% | — |
Credit & leverage
Balance-sheet health + interest coverage + liquidity. Coverage ratios use period-end debt and trailing interest expense.
ActualEstimate
| In USD | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|---|---|---|---|
| Leverage | |||||||||
| Total debt | $3.61M | $2.34M | $3.23M | $4.8M | $0 | $1.69M | $1.91M | $2.09M | $12.66M |
| Net debt | -$335.92M | -$282.49M | -$163.92M | -$159.56M | -$66.2M | -$88.04M | -$97.04M | -$105.43M | -$670.75M |
| Net debt / EBITDA | 1.76 | 0.99 | 0.53 | 0.51 | 0.14 | 0.33 | 0.31 | 0.31 | 0.32 |
| Debt / equity | 0.00 | 0.00 | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt / assets | +0.31% | +0.21% | +0.31% | +0.47% | 0.00% | +0.24% | +0.26% | +0.25% | +0.24% |
| Equity / assets | +84.51% | +84.28% | +84.12% | +81.72% | +80.09% | +82.29% | +86.29% | +80.94% | +81.77% |
| Coverage | |||||||||
| EBITDA / interest expense | — | — | — | — | — | — | — | — | — |
| Operating income / interest | — | — | — | — | — | — | — | — | — |
| Interest expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Liquidity | |||||||||
| Current ratio | 7.06 | 6.53 | 8.84 | 6.86 | 6.64 | — | — | — | — |
| Quick ratio | 6.93 | 6.36 | 8.60 | 6.67 | 6.34 | — | — | — | — |
| Cash ratio | 2.26 | 2.09 | 1.63 | 1.25 | 0.62 | — | — | — | — |
| Working capital | $910.27M | $752.84M | $802.06M | $772.37M | $601.39M | — | — | — | — |
| Working capital / revenue | +360.13% | +282.18% | +258.24% | +198.52% | +240.30% | — | — | — | — |
Historical multiples · μ ± σ bands
3 fiscal-year-end observations from key_metrics. Mean is dashed; light-green band is ±1σ, light-red band ±2σ. The dot marks the most recent value; the cheap / fair / rich verdict uses z-score against the issuer's own history (yields inverted — a high yield is cheap).
EV / Salescheap · z -1.32
μ 6.6 · σ 1.4 · current 4.7
EV / FCFrich · z 1.14
μ -31.5 · σ 22.3 · current -6.2
Earnings yieldrich · z -1.41
μ -19.5% · σ 13.0% · current -37.9%
FCF yieldrich · z -1.40
μ -6.8% · σ 6.1% · current -15.4%
Sourced from key_metrics + financial_ratios (loaded by load_fundamentals_extended.py).
Valuation
| Metric | FY 2026 | FY 2025 | FY 2024 |
|---|---|---|---|
| P / E | — | — | — |
| P / B | — | — | — |
| EV / EBITDA | — | — | — |
| EV / Sales | 4.69x | 6.89x | 8.13x |
| Earnings yield | -37.9% | -10.2% | -10.4% |
| FCF yield | -15.4% | -1.6% | -3.4% |
Returns
| Metric | FY 2026 | FY 2025 | FY 2024 |
|---|---|---|---|
| Gross margin | — | — | — |
| Operating margin | — | — | — |
| Net margin | — | — | — |
| ROE | -71.9% | -34.4% | -32.0% |
| ROA | -57.6% | -28.1% | -26.9% |
| ROIC | -68.7% | -36.1% | -33.9% |
Leverage & liquidity
| Metric | FY 2026 | FY 2025 | FY 2024 |
|---|---|---|---|
| Debt / equity | — | — | — |
| Net debt / EBITDA | 0.14 | 0.51 | 0.53 |
| Interest coverage | — | — | — |
| Current ratio | 6.64x | 6.86x | 8.84x |
| Quick ratio | — | — | — |
Methodology. ROE / ROA / ROC use period-end balance-sheet denominators (no average-of- period smoothing). ROIC = Operating Income × (1 − inferred effective tax rate) over invested capital, with the effective tax inferred from net-to-operating income when both are positive and a 25% default otherwise. Net debt / EBITDA, debt ratios, and interest-coverage ratios are calculated point-in-time at each fiscal year-end. TTM = trailing 4 quarters (income / cash flow summed, balance sheet = most-recent quarterly snapshot). Through-cycle CAGR in the Growth panel uses the geometric mean of first-to-last period growth across the window (positive values only).