Freshworks Inc. (FRSH) Key Metrics
FRSH valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $3.59B
- Enterprise value
- $2.73B
- P/E (TTM)
- 21.8
- Forward P/E
- 15.7
- PEG ratio
- 0.52
- Price / sales
- 4.0 10-yr median 8.4
- Price / book
- 3.7 10-yr median 4.3
- EV / EBITDA
- 40.9
- Dividend yield
- —
- Beta
- 0.90
FRSH key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsFRSH valuation Price multiples at each fiscal year-end price.
FRSH returns How much profit the business earns on the capital it uses.
FRSH per-share figures Results divided by the shares outstanding at year-end.
FRSH financial health Debt, liquidity and how easily interest is covered.
FRSH efficiency & capital use Working capital cycle and where the cash goes.
FRSH valuation history
FRSH returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
FRSH debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
FRSH cash returned to shareholders
FRSH price vs earnings per share
FRSH key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $3.60B | $4.86B | $6.88B | $4.19B | $6.86B | — | — | — | — | — |
| Enterprise value | $2.86B | $3.83B | $5.73B | $3.07B | $5.54B | — | — | — | — | — |
| P/E ratio | 19.6 | — | — | — | — | — | — | — | — | — |
| Price / sales | 4.3 | 6.8 | 11.5 | 8.4 | 18.5 | — | — | — | — | — |
| Price / book | 3.5 | 4.3 | 6.4 | 4.0 | 5.5 | — | — | — | — | — |
| Price / free cash flow | 14.7 | 33.3 | 88.4 | — | — | — | — | — | — | — |
| Price / operating cash flow | 14.3 | 30.3 | 79.9 | — | 598.8 | — | — | — | — | — |
| EV / sales | 3.4 | 5.3 | 9.6 | 6.2 | 14.9 | — | — | — | — | — |
| EV / EBITDA | 36.1 | — | — | — | — | — | — | — | — | — |
| EV / free cash flow | 11.7 | 26.3 | 73.6 | — | — | — | — | — | — | — |
| Earnings yield | 5.1% | −2.0% | −2.0% | −5.5% | −2.8% | — | — | — | — | — |
| Free cash flow yield | 6.8% | 3.0% | 1.1% | −0.4% | 0.0% | — | — | — | — | — |
| Shareholder yield (dividends + buybacks) | 10.7% | 0.3% | 1.0% | 4.0% | 0.0% | — | — | — | — | — |
| Share price at fiscal year-end | $12.25 | $16.17 | $23.49 | $14.71 | $26.26 | — | — | — | — | — |
| Per share | ||||||||||
| Revenue per share | $2.86 | $2.39 | $2.03 | $1.75 | $1.42 | $0.99 | — | — | — | — |
| Earnings per share | $0.63 | −$0.32 | −$0.47 | −$0.82 | −$0.73 | −$0.23 | — | — | — | — |
| Operating cash flow per share | $0.85 | $0.53 | $0.29 | −$0.01 | $0.04 | $0.13 | — | — | — | — |
| Free cash flow per share | $0.83 | $0.49 | $0.27 | −$0.05 | $0.01 | $0.09 | — | — | — | — |
| Cash per share | $2.66 | $3.56 | $4.05 | $4.03 | $5.07 | $0.94 | — | — | — | — |
| Book value per share | $3.52 | $3.78 | $3.66 | $3.70 | $4.74 | −$10.66 | — | — | — | — |
| Tangible book value per share | $2.75 | $2.99 | $3.59 | $3.67 | $4.71 | −$10.71 | — | — | — | — |
| Capex per share | $0.02 | $0.05 | $0.03 | $0.04 | $0.03 | $0.04 | — | — | — | — |
| Debt per share | $0.14 | $0.13 | $0.10 | $0.12 | — | — | — | — | — | — |
| Shares outstanding | 293.8M | 300.8M | 293.1M | 284.6M | 261.3M | 252.9M | — | — | — | — |
| Change in shares outstanding | −2.4% | +2.6% | +3.0% | +8.9% | +3.3% | — | — | — | — | — |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 16.9% | −8.6% | −12.9% | −20.3% | — | — | — | 4.3% | −0.0% | 2.7% |
| Return on invested capital (ROIC) | 6.8% | — | — | — | — | — | — | 4.5% | −5.6% | 2.7% |
| Return on assets (ROA) | 11.4% | −6.2% | −9.7% | −16.2% | −20.8% | −16.6% | −11.0% | 1.8% | −0.0% | 1.0% |
| Return on tangible assets | 13.3% | −6.9% | −9.6% | −16.9% | −13.0% | −16.1% | −9.9% | 7.5% | −0.0% | 3.4% |
| Free cash flow margin | 29.2% | 20.3% | 13.1% | −3.0% | 0.6% | 9.4% | −13.3% | 7.6% | 9.7% | −1.0% |
| Income quality (OCF / net income) | 1.37 | — | — | — | — | — | — | 2.37 | — | 6.34 |
| Financial health | ||||||||||
| Total debt | $42.5M | $38.3M | $29.5M | $34.9M | — | — | — | $82.0M | $95.4M | $108.8M |
| Cash & short-term investments | $781.4M | $1.07B | $1.19B | $1.15B | $1.32B | $238.1M | $222.9M | $5.8M | $2.2M | $2.1M |
| Net debt | −$738.9M | −$1.03B | −$1.16B | −$1.11B | −$1.32B | −$238.1M | −$222.9M | $76.3M | $93.2M | $106.8M |
| Debt / equity | 0.04 | 0.03 | 0.03 | 0.03 | — | — | — | 0.83 | 0.93 | 1.07 |
| Debt / assets | 0.03 | 0.02 | 0.02 | 0.03 | — | — | — | 0.33 | 0.39 | 0.40 |
| Net debt / EBITDA | −9.34 | — | — | — | — | — | — | 4.18 | — | 6.35 |
| Current ratio | 2.20 | 3.10 | 4.14 | 4.63 | 6.36 | 2.05 | 2.81 | 0.37 | 0.34 | 0.57 |
| Quick ratio | 2.20 | 3.10 | 4.14 | 4.55 | 6.30 | 1.99 | 2.75 | 0.35 | 0.31 | 0.53 |
| Interest coverage | — | — | — | -15.8 | -8.8 | — | — | 2.2 | -2.8 | — |
| Working capital | $599.1M | $857.7M | $1.03B | $985.2M | $1.20B | $160.2M | $178.1M | −$20.7M | −$18.5M | −$9.8M |
| Invested capital | $293.8M | $106.2M | −$85.9M | −$60.7M | −$85.5M | −$2.93B | −$1.35B | $175.3M | $195.4M | $208.3M |
| Tangible asset value | $809.0M | $900.1M | $1.05B | $1.05B | $1.23B | −$2.71B | −$1.13B | −$89.7M | −$92.6M | −$94.0M |
| Net current asset value | $527.1M | $791.5M | $971.0M | $928.5M | $1.18B | −$2.75B | −$1.17B | −$135.6M | −$134.7M | −$159.3M |
| Graham number | $7.03 | — | — | — | — | — | — | — | — | — |
| Graham net-net per share | $1.10 | $2.29 | $2.99 | $3.11 | $4.30 | −$11.05 | — | — | — | — |
| Capital allocation | ||||||||||
| Share buybacks (net) | $386.3M | $13.7M | $68.0M | $167.2M | $3.3M | $0 | $100.0M | $29,000 | $5,000 | $84,000 |
| Dividends + buybacks / free cash flow | 157.5% | 9.4% | 87.3% | — | 142.7% | 0.0% | — | 0.3% | 0.0% | — |
| Capex / revenue | 0.7% | 2.0% | 1.4% | 2.5% | 2.5% | 3.6% | 8.6% | 0.5% | 3.4% | 14.2% |
| Capex / operating cash flow | 2.3% | 9.1% | 9.7% | — | 79.6% | 27.7% | — | 5.6% | 25.7% | 107.2% |
| Capex / depreciation | 0.22 | 0.76 | 0.69 | 1.06 | 0.69 | 0.81 | 2.37 | 0.08 | 0.38 | 1.47 |
| Stock-based compensation / revenue | 17.5% | 30.1% | 35.3% | 41.7% | 46.7% | 17.3% | 0.2% | 0.4% | 0.6% | 0.7% |
| R&D / revenue | 19.5% | 22.8% | 23.1% | 27.2% | 32.5% | 27.7% | 22.4% | — | — | — |
| SG&A / revenue | 63.9% | 79.3% | 88.1% | 100.4% | 101.7% | 73.7% | 73.7% | 39.3% | 28.5% | 22.2% |
| Efficiency | ||||||||||
| Days sales outstanding | 59.6 | 55.8 | 52.2 | 45.8 | 42.3 | 42.8 | 29.5 | 10.6 | 14.0 | 14.8 |
| Days of inventory on hand | — | — | — | 66.3 | 55.7 | 50.8 | 30.0 | 11.3 | 11.5 | 11.5 |
| Days payables outstanding | 19.0 | 8.2 | 16.6 | 23.3 | 23.5 | 25.6 | 42.2 | 90.8 | 81.2 | 102.7 |
| Cash conversion cycle (days) | 40.6 | 47.5 | 35.6 | 88.8 | 74.5 | 68.0 | 17.3 | -68.9 | -55.7 | -76.5 |
| Receivables turnover | 6.13 | 6.55 | 7.00 | 7.97 | 8.63 | 8.53 | 12.37 | 34.39 | 26.03 | 24.70 |
| Payables turnover | 19.22 | 44.41 | 22.01 | 15.66 | 15.56 | 14.25 | 8.65 | 4.02 | 4.50 | 3.55 |
| Inventory turnover | — | — | — | 5.51 | 6.56 | 7.18 | 12.15 | 32.20 | 31.73 | 31.76 |
| Asset turnover | 0.52 | 0.47 | 0.42 | 0.35 | 0.40 | 0.72 | 0.61 | 0.51 | 0.46 | 0.46 |
| Average receivables | $136.9M | $110.0M | $85.2M | $62.5M | $43.0M | $29.3M | $13.9M | $3.7M | $4.6M | $5.1M |
| Average payables | $6.6M | $2.6M | $4.7M | $6.1M | $5.0M | $3.7M | $4.2M | $5.1M | $5.8M | $8.0M |
| Average inventory | — | — | — | $17.4M | $11.9M | $7.3M | $3.0M | $634,000 | $818,000 | $892,500 |
| Intangibles / total assets | 14.0% | 14.8% | 1.4% | 0.5% | 0.5% | 3.4% | 2.8% | 76.5% | 79.1% | 71.4% |
Computed from FRSH's annual financial statements (latest annual report filed February 26, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
FRSH valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Freshworks traded at 19.6 times earnings. Based on the latest twelve months, the trailing P/E is 21.8 and the forward P/E is 15.7. Freshworks earned a return on equity of 16.9% and a return on invested capital of 6.8% in fiscal 2025. It ended the year with $42.5 million of debt and $781.4 million in cash and short-term investments, a net cash position of $738.9 million. It returned $386.3 million to shareholders: $0 in dividends and $386.3 million in share buybacks, 158% of free cash flow.
See the FRSH income statement, the FRSH chart for price history, or the FRSH stock overview for the latest quote and news.
FRSH key metrics FAQ
What is Freshworks's P/E ratio?
Freshworks's trailing P/E ratio is 21.8 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 15.7. At the end of fiscal 2025 it was 19.6.
What is Freshworks's EV/EBITDA?
Freshworks's enterprise value was 36.1 times EBITDA at the end of fiscal 2025 (enterprise value $2.9 billion, EBITDA $79.1 million); the current EV/EBITDA is 40.9.
What is Freshworks's return on equity?
Freshworks's return on equity (ROE) was 16.9% in fiscal 2025: net income of $183.7 million on average shareholders' equity of $1.1 billion.
What is Freshworks's ROIC?
Freshworks's return on invested capital was 6.8% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Freshworks have?
Freshworks had total debt of $42.5 million at the end of fiscal 2025, a debt-to-equity ratio of 0.04 and more cash than debt.
Does Freshworks buy back its shares?
Yes. Freshworks spent $386.3 million on net share repurchases in fiscal 2025 Shares outstanding changed −2.4% over the year, to 293.8M..
What is Freshworks's free cash flow yield?
Freshworks generated $245.2 million of free cash flow in fiscal 2025, a free cash flow yield of 6.8% on its market value at year-end ($3.6 billion).
What is Freshworks's current ratio?
Freshworks's current ratio was 2.20 at the end of fiscal 2025: current assets were 2.20 times current liabilities.