Elastic N.V. (ESTC) intrinsic value & 10-year financials
Elastic N.V. (ESTC) has a Graham intrinsic value of $113.93 per share. At $91.74 on Oct 17, 2026, the stock trades 19% below that value. Over the last 10 fiscal years revenue grew 39.3% a year to $1.7B, with an average return on invested capital of -74.1%.
- Graham intrinsic value
- $113.93
- Share price (Oct 17, 2026)
- $91.74
- Price vs Graham value
- 19% below
- Market cap
- $9.8B
- Revenue (FY2026)
- $1.7B
- Revenue growth (10-yr CAGR)
- 39.3%
- ROIC (10-yr avg)
- -74.1%
- Free cash flow (FY2026)
- $321.8M
ESTC 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2026 | $1.7B | $367.8M | $3.43 | $321.8M | -1.9% | -1.8% |
| FY2025 | $1.5B | -$108.1M | -$1.04 | $261.8M | -3.7% | -7.0% |
| FY2024 | $1.3B | $61.7M | $0.59 | $145.3M | -10.3% | -11.6% |
| FY2023 | $1.1B | -$236.2M | -$2.47 | $33.0M | -20.5% | -92.5% |
| FY2022 | $862.4M | -$203.8M | -$2.20 | $3.2M | -20.1% | -167.7% |
| FY2021 | $608.5M | -$129.4M | -$1.48 | $18.6M | -21.3% | -121.0% |
| FY2020 | $427.6M | -$167.2M | -$2.12 | -$35.6M | -40.0% | -117.1% |
| FY2019 | $271.7M | -$102.3M | — | -$27.4M | -37.3% | — |
| FY2018 | $159.9M | -$52.7M | — | -$23.8M | -30.0% | — |
| FY2017 | $88.2M | -$52.0M | — | -$16.9M | -53.5% | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Elastic N.V. is a consistent compounder, expanding top-line revenue at 39.3% annually over the past decade.
Elastic N.V. has historically struggled to out-earn its cost of capital, averaging just -50.4% ROIC.
Elastic N.V. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Elastic N.V. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $113.93 per share.