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Navan, Inc.

NAVN· Nasdaq· Services-Prepackaged Software

Market cap
–
P/FCF
–
EV/Sales
–
FCF margin
4.7%
ROIC, 5 yr avg
–
Revenue, 5 yr CAGR
–
We record prices for the companies we cover; NAVN is not one of them yet.

Company statistics

From the 10-Ks, computed in code · point at a figure for its formula

Profile · FY2026

Market cap
–
Enterprise value
–
Diluted shares
97.8M
Revenue
$702.3M
Free cash flow
$32.8M
Owner earnings
-$149.3M

Valuation · FY2026

P/E
–
P/FCF
–
P/Owner earnings
–
EV/Sales
–
EV/FCF
–
P/B
–

Margins · FY2026

Gross
71.3%
Operating
-28.0%
Net
-56.7%
Free cash flow
4.7%
Owner earnings
-21.3%
Stock pay
25.9%

Returns

ROIC, FY2026
–
ROIC, 5 yr avg
–
ROE, FY2026
-32.9%
ROE, 5 yr avg
–

Growth (CAGR)

Revenue, 3 yr
–
Revenue, 5 yr
–
Revenue, 2 yr
32.1%
Diluted EPS, 3 yr
–
Diluted EPS, 5 yr
–
Diluted EPS, 2 yr
–
Free cash flow, 3 yr
–
Free cash flow, 5 yr
–
Free cash flow, 2 yr
–

Financial health · FY2026

Cash and investments
$740.5M
Total debt
$124.8M
Net cash
$615.7M
Debt/Equity
0.1x
Debt/FCF
3.8x

Shareholder returns · FY2026

Dividend yield
–
Payout ratio
–
Buyback yield
–
Shareholder yield
–
Share count, 5 yr
–

Financials: ten years from the 10-Ks

Reported numbers open their filing · computed ones show the formula · ˢ split-adjusted

Revenue

$702.3M

+32.1% a year over 2 years

FY2024: Revenue $402.3MFY2025: Revenue $536.8MFY2026: Revenue $702.3M
FY2024FY2026

Margins

Gross71.3%Operating-28.0%Net-56.7%

FY2026

FY2024: Gross 59.6%, Operating -61.2%, Net -82.4%FY2025: Gross 68.4%, Operating -20.1%, Net -33.7%FY2026: Gross 71.3%, Operating -28.0%, Net -56.7%
FY2024FY2026

Free cash flow and owner earnings

Free cash flow$32.8MOwner earnings-$149.3M

FY2026

FY2024: Free cash flow -$166.9M, Owner earnings -$242.8MFY2025: Free cash flow -$51.4M, Owner earnings -$128.4MFY2026: Free cash flow $32.8M, Owner earnings -$149.3M
FY2024FY2026

Diluted shares

97.8M

+119.4% over 2 years, net dilution

FY2024: Diluted shares 44.6MFY2025: Diluted shares 45.3MFY2026: Diluted shares 97.8M
FY2024FY2026

Net cash

$615.7M

$615.7M more cash than debt

FY2024: Net cash –FY2025: Net cash -$460.3MFY2026: Net cash $615.7M
FY2024FY2026

Every figure, year by year

Fiscal yearFY2024FY2025FY2026
The business
Revenue$402.3M$536.8M$702.3M
Revenue growth–33.5%30.8%
Gross margin59.6%68.4%71.3%
Operating margin-61.2%-20.1%-28.0%
Net income-$331.6M-$181.1M-$398.0M
Net margin-82.4%-33.7%-56.7%
Diluted EPS$-7.44$-4.00$-4.07
Return on invested capital?–––
Cash
Operating cash flow-$166.4M-$50.4M$33.7M
Capital expenditure$561.0K$994.0K$917.0K
Free cash flow-$166.9M-$51.4M$32.8M
Stock-based compensation$75.9M$77.0M$182.1M
Owner earnings?-$242.8M-$128.4M-$149.3M
Free cash flow per share$-3.74$-1.14$0.33
Capital allocation
Dividends paid–––
Share repurchases–––
Diluted shares44.6M45.3M97.8M
Share count change?–1.5%116.0%
Balance sheet
Cash and equivalents$166.4M$157.7M$583.5M
Short-term investments–$0$157.0M
Total debt–$617.9M$124.8M
Net debt–$460.3M-$615.7M
Shareholders' equity-$1.1B-$1.2B$1.2B

Latest filings

All on EDGAR
2026-09-1010-QQuarterly report
2026-09-098-KEarnings release
2026-06-1110-QQuarterly report
2026-06-108-KEarnings release
2026-05-12DEF 14AProxy statement
2026-04-0210-KAnnual report
2026-03-258-KEarnings release
2025-12-1510-QQuarterly report
2025-12-158-KEarnings release

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