CVLT Technology

Commvault Systems, Inc.

$160.99+2.00%

Price as of close on Nov 3, 2026 · Financials updated Oct 8, 2026

Basics

Sector: Technology
Industry: Software - Application
Country: United States
Market cap: 6.7B USD
Enterprise value: 6.7B USD
Full-time employees: 3,300

Overall health

Strength: more profitable than most peersmore profitable than peers
Strength: growing faster than most peersgrowing faster than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: higher risk than most peers: more debt relative to equity (17.63× vs a peer median of 0.25×)higher risk: more debt vs equity (17.63× vs peers 0.25×)

Ranks #916 of 1,612 technology companies (bottom 44%)

See how it ranks against its peers

Worth knowing

Returning more cash than it generates. Paid out $795M vs $640M of free cash flow over the 3 fiscal years to FY Mar 2026.
Commvault Systems returned $795M to shareholders over three years, 124% of the free cash flow it produced. That gap has to be covered by cash reserves or new debt, which can't last indefinitely.
Much more borrowing than peers. Debt is 17.6× equity vs a peer median of 0.2×.Debt is 17.6× equity vs peers 0.2×.
Debt is 17.6× shareholders' equity, against a peer median of 0.2×, among the highest 10% of its peer group.Debt is 17.6× shareholders' equity, vs peers 0.2×, among the highest 10% of its peer group.
Stock-based pay is a large cost. Stock pay was 10% of revenue in FY Mar 2026.
Commvault Systems paid employees $123M in stock in FY Mar 2026, 10% of its $1.2B revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.
Share count shrinking. Shares outstanding down 6.1% from March 2023 to July 2026.
Commvault Systems had 6.1% fewer shares at July 2026 than at March 2023, mainly through buybacks, so each remaining share owns a larger slice of the business.

StockQuotient Score

48/ 100

Oct 5 49 → Nov 4 48 (-1)

Valuation

Is the price right?

34/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ EBITDA yield
▼ Earnings yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield1.0%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score -0.54Sector median: 0.0225 · MAD: 0.0225

EBITDA yield1.8%

Yahoo Finance fallback · SEC enterprise value unavailable (debt or EBITDA not reported in standard form) · trailing 12 monthsReported value50% base weight · Z-score -0.67Sector median: 0.0423 · MAD: 0.0361

Free cash flow yield3.9%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score 0.41Sector median: 0.0274 · MAD: 0.0274

Other data (not scored)

Book yield0.8%

SEC filings · latest balance sheetOutlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.3292 · MAD: 0.1754

Growth

Is it growing?

63/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 2.7%

Why

Stronger than most peers on:

▲ 3-yr revenue
▲ Revenue growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth-9.6%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.68Sector median: 0.1108 · MAD: 0.3050

3-year revenue growth15.7%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score 1.37Sector median: 0.0483 · MAD: 0.0793

Revenue growth15.5%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.68Sector median: 0.0853 · MAD: 0.1017

Profitability

Does it earn well?

86/100

Strong

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin6.1%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.02Sector median: 0.0631 · MAD: 0.0710

Return on assets3.6%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.19Sector median: 0.0293 · MAD: 0.0362

Return on invested capital215.6%

Yahoo Finance fallback · SEC operating income or invested capital unavailable · trailing 12 monthsOutlier capped at sector 5th/95th percentile33% base weight · Z-score 6.00Sector median: 0.0676 · MAD: 0.0857

Other data (not scored)

Gross margin81.1%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.3343 · MAD: 0.1632

Return on equity131.2%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.0753 · MAD: 0.0889

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Debt / equity

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta0.79

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score 0.21Sector median: 0.8710 · MAD: 0.3700

Current ratio2.04×

SEC filings · latest balance sheetReported value33% base weight · Z-score 0.31Sector median: 1.8295 · MAD: 0.6848

Debt / equity17.63×

Yahoo Finance fallback · no standard SEC debt tagOutlier capped at sector 5th/95th percentile33% base weight · Z-score -7.82Sector median: 0.2495 · MAD: 0.2270

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Commvault Systems

Is Commvault Systems getting weaker?: Its latest SEC filing (Jul 29, 2026) showed no major changes. Its overall score is unchanged at 48/100 since Oct 28, 2026.
How is Commvault Systems valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 34/100 against 1,711 technology peers. EBITDA yield 1.8% vs a peer median of 4.2% (weaker than 70% of peers).EBITDA yield 1.8% vs peers 4.2% (weaker than 70% of peers).
Is Commvault Systems growing?: Yes, faster than most of its peers. Growth scores 63/100 against 1,711 technology peers. 3-year revenue growth 15.7% vs a peer median of 4.8% (stronger than 79% of peers).3-year revenue growth 15.7% vs peers 4.8% (stronger than 79% of peers). Earnings per share growth -9.6% vs a peer median of 11.1% (weaker than 71% of peers).Earnings per share growth -9.6% vs peers 11.1% (weaker than 71% of peers).
How profitable is Commvault Systems?: More profitable than most of its peers. Profitability scores 86/100 against 1,711 technology peers. Return on invested capital 215.6% vs a peer median of 6.8% (stronger than 95% of peers).Return on invested capital 215.6% vs peers 6.8% (stronger than 95% of peers).
How risky is Commvault Systems?: Higher risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings. Debt / equity 17.63× vs a peer median of 0.25× (weaker than 100% of peers).Debt / equity 17.63× vs peers 0.25× (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Jul 29, 2026 · compared with the quarter ended Mar 31, 2026

No major changes

	Previous quarter	Latest quarter	Change
Revenue (12 months)	1.2B USD	1.2B USD	+2.7%
Net income (12 months)	70.7M USD	68.3M USD	−3.3%
Operating margin	6.3%	6.1%	−0.1 pts
Free cash flow (12 months)	237.2M USD	258.4M USD	+9.0%
Cash	900.0M USD	929.8M USD	+3.3%
Shares outstanding	41.3M	41.4M	+0.5%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Industry: Software - Application · 81 companies

Valuations in Software - Application are near the bottom of their range since 2016.

6% of months since 2016 were valued lower than now.
8% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values −16% and earnings +31% (medians): earnings grew faster than prices.
Median price-to-sales is +85% vs the whole market, against a usual +235%.

2016Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY Mar 2022	FY Mar 2023	FY Mar 2024	FY Mar 2025	FY Mar 2026	Change
Gross margin	85.2%	82.7%	81.9%	82.0%	81.2%	▼ 0.9 pts
Operating margin	5.4%	-2.0%	9.0%	7.4%	6.3%	▼ 1.2 pts
Net margin	4.4%	-4.6%	20.1%	7.6%	6.0%	▼ 1.7 pts
Return on assets (ROA)	4.1%	-4.6%	17.9%	6.8%	3.7%	▼ 3.1 pts
Return on equity (ROE)	13.1%	-19.2%	60.7%	23.4%	—	—
Free cash flow margin	22.5%	21.3%	23.8%	20.5%	20.0%	▼ 0.4 pts
Current ratio	1.23×	1.34×	1.23×	1.14×	1.95×	▲ 71%
Interest coverage	381.34×	-33.65×	181.58×	177.25×	19.50×	▼ 89%

CVLT price history

Price history is added with the daily price update and will appear after the next one.

Similar companies

Sector leaderboards

LEENO Industrial Inc.058470.KQ97/ 100

Transcend Information, Inc.2451.TW94/ 100

Joint Stock Company Kaspi.kzKSPI93/ 100

Bringing the fundamentals into focus…

Overall health

Strength: more profitable than most peersmore profitable than peers

Strength: growing faster than most peersgrowing faster than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: higher risk than most peers: more debt relative to equity (17.63× vs a peer median of 0.25×)higher risk: more debt vs equity (17.63× vs peers 0.25×)

Ranks #916 of 1,612 technology companies (bottom 44%)

See how it ranks against its peers

Worth knowing

Returning more cash than it generates. Paid out $795M vs $640M of free cash flow over the 3 fiscal years to FY Mar 2026.

Commvault Systems returned $795M to shareholders over three years, 124% of the free cash flow it produced. That gap has to be covered by cash reserves or new debt, which can't last indefinitely.

Much more borrowing than peers. Debt is 17.6× equity vs a peer median of 0.2×.Debt is 17.6× equity vs peers 0.2×.

Debt is 17.6× shareholders' equity, against a peer median of 0.2×, among the highest 10% of its peer group.Debt is 17.6× shareholders' equity, vs peers 0.2×, among the highest 10% of its peer group.

Stock-based pay is a large cost. Stock pay was 10% of revenue in FY Mar 2026.

Commvault Systems paid employees $123M in stock in FY Mar 2026, 10% of its $1.2B revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.

Share count shrinking. Shares outstanding down 6.1% from March 2023 to July 2026.

Commvault Systems had 6.1% fewer shares at July 2026 than at March 2023, mainly through buybacks, so each remaining share owns a larger slice of the business.

Questions investors ask about Commvault Systems

Is Commvault Systems getting weaker?

Its latest SEC filing (Jul 29, 2026) showed no major changes. Its overall score is unchanged at 48/100 since Oct 28, 2026.

How is Commvault Systems valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 34/100 against 1,711 technology peers. EBITDA yield 1.8% vs a peer median of 4.2% (weaker than 70% of peers).EBITDA yield 1.8% vs peers 4.2% (weaker than 70% of peers).

Is Commvault Systems growing?

Yes, faster than most of its peers. Growth scores 63/100 against 1,711 technology peers. 3-year revenue growth 15.7% vs a peer median of 4.8% (stronger than 79% of peers).3-year revenue growth 15.7% vs peers 4.8% (stronger than 79% of peers). Earnings per share growth -9.6% vs a peer median of 11.1% (weaker than 71% of peers).Earnings per share growth -9.6% vs peers 11.1% (weaker than 71% of peers).

How profitable is Commvault Systems?

More profitable than most of its peers. Profitability scores 86/100 against 1,711 technology peers. Return on invested capital 215.6% vs a peer median of 6.8% (stronger than 95% of peers).Return on invested capital 215.6% vs peers 6.8% (stronger than 95% of peers).

How risky is Commvault Systems?

Higher risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings. Debt / equity 17.63× vs a peer median of 0.25× (weaker than 100% of peers).Debt / equity 17.63× vs peers 0.25× (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

1.2B USD

1.2B USD

+2.7%

Net income (12 months)

70.7M USD

68.3M USD

−3.3%

Operating margin

6.3%

6.1%

−0.1 pts

Free cash flow (12 months)

237.2M USD

258.4M USD

+9.0%

Cash

900.0M USD

929.8M USD

+3.3%

Shares outstanding

41.3M

41.4M

+0.5%

Key ratios

FY Mar 2022

FY Mar 2023

FY Mar 2024

FY Mar 2025

FY Mar 2026

Change

Gross margin

85.2%

82.7%

81.9%

82.0%

81.2%

▼ 0.9 pts

Operating margin

5.4%

-2.0%

9.0%

7.4%

6.3%

▼ 1.2 pts

Net margin

4.4%

-4.6%

20.1%

7.6%

6.0%

▼ 1.7 pts

Return on assets (ROA)

4.1%

-4.6%

17.9%

6.8%

3.7%

▼ 3.1 pts

Return on equity (ROE)

13.1%

-19.2%

60.7%

23.4%

—

Free cash flow margin

22.5%

21.3%

23.8%

20.5%

20.0%

▼ 0.4 pts

Current ratio

1.23×

1.34×

1.23×

1.14×

1.95×

▲ 71%

Interest coverage

381.34×

-33.65×

181.58×

177.25×

19.50×

▼ 89%