GTLB Technology

GitLab Inc.

$52.37+0.50%

Price as of close on Nov 3, 2026 · Financials updated Oct 9, 2026

Basics

Sector: Technology
Industry: Software - Infrastructure
Country: United States
Market cap: 8.7B USD
Enterprise value: 7.5B USD
Full-time employees: 2,580

Overall health

Strength: growing faster than most peersgrowing faster than peers
Drawback: less profitable than most peersless profitable than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
About average: risk (debt, liquidity and share-price swings)risk

Ranks #1,056 of 1,612 technology companies (bottom 35%)

See how it ranks against its peers

Worth knowing

Stock-based pay is a large cost. Stock pay was 23% of revenue in FY Jan 2026.
GitLab paid employees $215M in stock in FY Jan 2026, 23% of its $955M revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.
Operating loss narrowing. Operating margin -7.4% in FY Jan 2026, the smallest loss relative to revenue of the last 6 years.
GitLab still lost money on operations in FY Jan 2026 (margin -7.4%), but that was its smallest operating loss relative to revenue in the 6 years of filings we have.
Valuation signals disagree. Cheaper than 47% of peers on free cash flow, but only 0% on earnings.
Relative to its free cash flow, GitLab looks cheaper than 47% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.
Growing fast, still losing money. Revenue grew faster than 80% of peers, at an operating loss.
Revenue grew faster than 80% of peers, but the business runs at an operating loss (margin -8.5%).

StockQuotient Score

43/ 100

Oct 5 43 → Nov 4 43

Valuation

Is the price right?

20/100

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:

▼ Earnings yield
▼ EBITDA yield

Compare with peers

Behind the score

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

Earnings yield-0.6%

SEC filings · 12 months to Jul 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.00Sector median: 0.0225 · MAD: 0.0225

EBITDA yield-0.8%

Yahoo Finance fallback · SEC enterprise value unavailable (debt or EBITDA not reported in standard form) · trailing 12 monthsNegative (a loss or cash outflow), so it counts as zero whatever the share price50% base weight · Z-score -1.17Sector median: 0.0423 · MAD: 0.0361

Free cash flow yield2.4%

SEC filings · 12 months to Jul 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score -0.12Sector median: 0.0274 · MAD: 0.0274

Other data (not scored)

Book yield10.5%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.3292 · MAD: 0.1754

Growth

Is it growing?

76/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 5.0%

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 growthUnavailable

The loss per share widened33% base weight · Z-score -1.13Sector median: 0.1108 · MAD: 0.3050

3-year revenue growth28.1%

SEC filings · 3 years to Jul 2026Reported value33% base weight · Z-score 2.93Sector median: 0.0483 · MAD: 0.0793

Revenue growth23.0%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score 1.42Sector median: 0.0853 · MAD: 0.1017

Profitability

Does it earn well?

14/100

Weak

3/3 inputs reported · High confidence

Since last quarter: ▼ Weaker

Operating margin fell 3.4 points to -8.5%

Why

Weaker than most peers on:

▼ ROIC
▼ ROA
▼ Operating margin

Compare with peers

Behind the score

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

Operating margin-8.5%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score -2.09Sector median: 0.0631 · MAD: 0.0710

Return on assets-3.3%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score -1.73Sector median: 0.0293 · MAD: 0.0362

Return on invested capital-10.2%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score -1.98Sector median: 0.0676 · MAD: 0.0857

Other data (not scored)

Gross margin85.8%

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

Return on equity-6.0%

SEC filings · 12 months to Jul 2026Reported valueInformational · 0% composite weightSector median: 0.0753 · MAD: 0.0889

Risk

Debt, liquidity, price swings

Moderate

Moderate relative risk

2/3 inputs reported · Partial data

Since last quarter: No major change

Why it changed since the Oct 27, 2026 close: Safety percentile 62 → 61

Peer companies moved-1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Helped by:

▲ Current ratio

Compare with peers

Behind the score

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

Beta0.99

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -0.32Sector median: 0.8710 · MAD: 0.3700

Current ratio2.41×

SEC filings · latest balance sheetReported value33% base weight · Z-score 0.85Sector median: 1.8295 · MAD: 0.6848

Debt / equityUnavailable

Missing · left out of the score · no sector data, so not countedNot counted · remaining weights rescaledSector 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 GitLab

Is GitLab getting weaker?: Its latest SEC filing (Sep 2, 2026) got weaker in some ways: operating margin fell 3.4 points to -8.5%. Its overall score is unchanged at 43/100 since Oct 28, 2026.
How is GitLab valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 20/100 against 1,711 technology peers. Earnings yield -0.6% vs a peer median of 2.2% (weaker than 100% of peers).Earnings yield -0.6% vs peers 2.2% (weaker than 100% of peers).
Is GitLab growing?: Yes, faster than most of its peers. Growth scores 76/100 against 1,711 technology peers. 3-year revenue growth 28.1% vs a peer median of 4.8% (stronger than 93% of peers).3-year revenue growth 28.1% vs peers 4.8% (stronger than 93% of peers).
How profitable is GitLab?: Less profitable than most of its peers. Profitability scores 14/100 against 1,711 technology peers. Return on invested capital -10.2% vs a peer median of 6.8% (weaker than 87% of peers).Return on invested capital -10.2% vs peers 6.8% (weaker than 87% of peers).
How risky is GitLab?: Moderate risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings. Current ratio 2.41× vs a peer median of 1.83× (stronger than 66% of peers).Current ratio 2.41× vs peers 1.83× (stronger than 66% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jul 31, 2026 · filed Sep 2, 2026 · compared with the quarter ended Apr 30, 2026

Got weaker

Operating margin fell 3.4 points to -8.5%

Worth watching: GitLab is in the bottom fifth of its sector on profitability. From 2021 to 2025, 63% of companies in that position posted a loss over the following year, against 4% for the top fifth.

	Previous quarter	Latest quarter	Change
Revenue (12 months)	1.0B USD	1.1B USD	+5.0%
Net income (12 months)	−27.7M USD	−55.3M USD	+99.9%
Operating margin	-5.1%	-8.5%	−3.4 pts
Free cash flow (12 months)	263.4M USD	213.7M USD	−18.9%
Cash	335.4M USD	226.5M USD	−32.5%

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

Industry valuation context

Industry: Software - Infrastructure · 71 companies

Valuations in Software - Infrastructure are above their usual range since 2016.

61% of months since 2016 were valued lower than now.
22% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +19% and earnings +22% (medians): prices and earnings moved broadly together.
Median price-to-sales is +97% vs the whole market, against a usual +103%.

2016Shaded: most expensive fifth of its range2026

Financials

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

Key ratios	FY Jan 2022	FY Jan 2023	FY Jan 2024	FY Jan 2025	FY Jan 2026	Change
Gross margin	88.1%	87.8%	89.7%	88.8%	87.4%	▼ 1.4 pts
Operating margin	-51.0%	-49.8%	-32.3%	-18.8%	-7.4%	▲ 11 pts
Net margin	-61.4%	-40.9%	-73.4%	-0.8%	-5.9%	▼ 5.0 pts
Return on assets (ROA)	-14.2%	-14.8%	-32.2%	-0.5%	-3.2%	▼ 2.8 pts
Return on equity (ROE)	-20.0%	-22.5%	-76.0%	-0.8%	-5.6%	▼ 4.8 pts
Free cash flow margin	-21.1%	-19.7%	5.8%	-8.9%	23.2%	▲ 32 pts
Current ratio	4.35×	3.65×	1.90×	2.45×	2.54×	▲ 3.6%

GTLB price history

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

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Bringing the fundamentals into focus…

Overall health

Strength: growing faster than most peersgrowing faster than peers

Drawback: less profitable than most peersless profitable than peers

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

About average: risk (debt, liquidity and share-price swings)risk

Ranks #1,056 of 1,612 technology companies (bottom 35%)

See how it ranks against its peers

Worth knowing

Stock-based pay is a large cost. Stock pay was 23% of revenue in FY Jan 2026.

GitLab paid employees $215M in stock in FY Jan 2026, 23% of its $955M revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.

Operating loss narrowing. Operating margin -7.4% in FY Jan 2026, the smallest loss relative to revenue of the last 6 years.

GitLab still lost money on operations in FY Jan 2026 (margin -7.4%), but that was its smallest operating loss relative to revenue in the 6 years of filings we have.

Valuation signals disagree. Cheaper than 47% of peers on free cash flow, but only 0% on earnings.

Relative to its free cash flow, GitLab looks cheaper than 47% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.

Growing fast, still losing money. Revenue grew faster than 80% of peers, at an operating loss.

Revenue grew faster than 80% of peers, but the business runs at an operating loss (margin -8.5%).

Questions investors ask about GitLab

Is GitLab getting weaker?

Its latest SEC filing (Sep 2, 2026) got weaker in some ways: operating margin fell 3.4 points to -8.5%. Its overall score is unchanged at 43/100 since Oct 28, 2026.

How is GitLab valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 20/100 against 1,711 technology peers. Earnings yield -0.6% vs a peer median of 2.2% (weaker than 100% of peers).Earnings yield -0.6% vs peers 2.2% (weaker than 100% of peers).

Is GitLab growing?

Yes, faster than most of its peers. Growth scores 76/100 against 1,711 technology peers. 3-year revenue growth 28.1% vs a peer median of 4.8% (stronger than 93% of peers).3-year revenue growth 28.1% vs peers 4.8% (stronger than 93% of peers).

How profitable is GitLab?

Less profitable than most of its peers. Profitability scores 14/100 against 1,711 technology peers. Return on invested capital -10.2% vs a peer median of 6.8% (weaker than 87% of peers).Return on invested capital -10.2% vs peers 6.8% (weaker than 87% of peers).

How risky is GitLab?

Moderate risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings. Current ratio 2.41× vs a peer median of 1.83× (stronger than 66% of peers).Current ratio 2.41× vs peers 1.83× (stronger than 66% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

1.0B USD

1.1B USD

+5.0%

Net income (12 months)

−27.7M USD

−55.3M USD

+99.9%

Operating margin

-5.1%

-8.5%

−3.4 pts

Free cash flow (12 months)

263.4M USD

213.7M USD

−18.9%

Cash

335.4M USD

226.5M USD

−32.5%

Key ratios

FY Jan 2022

FY Jan 2023

FY Jan 2024

FY Jan 2025

FY Jan 2026

Change

Gross margin

88.1%

87.8%

89.7%

88.8%

87.4%

▼ 1.4 pts

Operating margin

-51.0%

-49.8%

-32.3%

-18.8%

-7.4%

▲ 11 pts

Net margin

-61.4%

-40.9%

-73.4%

-0.8%

-5.9%

▼ 5.0 pts

Return on assets (ROA)

-14.2%

-14.8%

-32.2%

-0.5%

-3.2%

▼ 2.8 pts

Return on equity (ROE)

-20.0%

-22.5%

-76.0%

-0.8%

-5.6%

▼ 4.8 pts

Free cash flow margin

-21.1%

-19.7%

5.8%

-8.9%

23.2%

▲ 32 pts

Current ratio

4.35×

3.65×

1.90×

2.45×

2.54×

▲ 3.6%