Recent News
On January 27, 2026 Commvault reported third-quarter fiscal 2026 results ending December 31, 2025 with revenue and recurring-revenue momentum highlighted. On January 28, 2026 the company added a senior channel hire for North Europe to support recent platform releases. On February 25, 2026 a shareholder litigation notice circulated regarding investor claims related to prior disclosures. Additional product-level cyber recovery announcements and platform innovation coverage appeared across industry press during the same window.
Technical Analysis
ADX reads 32.17, indicating a strong directional environment; that strength raises the likelihood that the current directional pressure persists into the near term and therefore matters for price bias versus the valuation premium.
Directional indicators: DI+ shows a dip & reversal (bullish signal), while DI- also shows a dip & reversal (bearish signal); DI- at 28.75 remains above DI+ at 16.11, which preserves bearish directional dominance despite the DI+ reversal.
MACD sits at -3.62 above its signal line at -4.03, which constitutes a bullish MACD cross; however the recent MACD peak & reversal history suggests momentum has weakened and any bullish cross carries limited conviction.
MRO measures -26.03 (negative), indicating price sits below the model target and therefore contains potential upside pressure toward fair-value—this contrasts with other momentum signs and acts as a counterforce to purely bearish price action.
RSI at 36.34 with a peak & reversal pattern indicates momentum moved from higher levels and now resides near oversold territory; the reading supports a higher probability of a stabilizing bounce rather than a sustained rally given other indicators.
Moving averages and price: the 12-day EMA trend declines and the close at $76.08 sits below the 20-day average $79.79 and far below the 200-day average $142.51; Bollinger bands compress near the lower band, reinforcing the case for short-term consolidation under heavier downward bias versus a sustained breakout higher.
Fundamental Analysis
Revenue totaled $313,832,000 with YoY revenue growth of 8.33% and sequential (QoQ) revenue contraction of 7.64%; revenue growth supports the company’s platform transition but the QoQ decline signals near-term top-line variability.
Profitability: operating margin stands at 10.09% and EBIT margin at 9.07%, up QoQ by 100.14% and 59.23% respectively year-over-year; EBIT at $28,473,000 and EBITDA at $32,255,000 show improving operating leverage after cost control and recurring-revenue mix shifts. EBIT margin of 9.07% sits below the industry peer mean (46.49%) and median (60.27%).
Cash and leverage: cash and short-term investments total $1,026,346,000 and the cash ratio equals 1.66, providing strong liquidity. Total debt totals $918,645,000, producing debt-to-assets of 45.07% and debt-to-equity of 423.86%; debt-to-EBITDA equals 28.48x, indicating leverage metrics materially exceed typical operating cushion and create sensitivity if cash generation weakens.
Cash flow and free cash flow: free cash flow reached $1,926,000 with free cash flow yield near 0.033% and free cash flow growth negative on a QoQ basis; operating cash flow measured $4,045,000 while cash flow margin reads -33.64% versus net income of $17,782,000, indicating timing and working-capital effects on reported cash conversion.
Shareholder metrics and multiples: EPS came in at $1.17 versus an estimate of $0.98, producing an EPS surprise of 19.39%. Price multiples carry a premium: trailing P/E about 113.33 and P/B about 26.94; P/B sits above the industry peer range high (24.20) while trailing P/E lies above the industry peer median but below the peer mean, emphasizing elevated valuation relative to operating outcomes. WMDST values the stock as over-valued given current multiples relative to cash generation and leverage.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-12-31 |
| REPORT DATE: | 2026-01-27 |
| NEXT REPORT DATE: | 2026-04-28 |
| CASH FLOW | Begin Period Cash Flow | $ 1.1 B |
| Operating Cash Flow | $ 4.0 M | |
| Capital Expenditures | $ -2.12 M | |
| Change In Working Capital | $ -61.39 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ -37.21 M | |
| End Period Cash Flow | $ 1.0 B | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 313.8 M | |
| Forward Revenue | $ 233.8 M | |
| COSTS | ||
| Cost Of Revenue | $ 59.3 M | |
| Depreciation | $ 3.8 M | |
| Depreciation and Amortization | $ 3.8 M | |
| Research and Development | $ 42.2 M | |
| Total Operating Expenses | $ 282.2 M | |
| PROFITABILITY | ||
| Gross Profit | $ 254.5 M | |
| EBITDA | $ 32.3 M | |
| EBIT | $ 28.5 M | |
| Operating Income | $ 31.7 M | |
| Interest Income | $ 8.4 M | |
| Interest Expense | $ 1.4 M | |
| Net Interest Income | $ 7.0 M | |
| Income Before Tax | $ 27.0 M | |
| Tax Provision | $ 9.2 M | |
| Tax Rate | 34.199 % | |
| Net Income | $ 17.8 M | |
| Net Income From Continuing Operations | $ 17.8 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.98 | |
| EPS Actual | $ 1.17 | |
| EPS Difference | $ 0.19 | |
| EPS Surprise | 19.388 % | |
| Forward EPS | $ 1.20 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 2.0 B | |
| Intangible Assets | $ 231.8 M | |
| Net Tangible Assets | $ -15.08 M | |
| Total Current Assets | $ 1.4 B | |
| Cash and Short-Term Investments | $ 1.0 B | |
| Cash | $ 1.0 B | |
| Net Receivables | $ 361.8 M | |
| Inventory | — | |
| Long-Term Investments | $ 65.5 M | |
| LIABILITIES | ||
| Accounts Payable | $ 268.0 K | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 616.6 M | |
| Net Debt | — | |
| Total Debt | $ 918.6 M | |
| Total Liabilities | $ 1.8 B | |
| EQUITY | ||
| Total Equity | $ 216.7 M | |
| Retained Earnings | $ -1.25 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 4.92 | |
| Shares Outstanding | 44.034 M | |
| Revenue Per-Share | $ 7.13 | |
| VALUATION | Market Capitalization | $ 5.8 B |
| Enterprise Value | $ 5.7 B | |
| Enterprise Multiple | 177.686 | |
| Enterprise Multiple QoQ | -56.867 % | |
| Enterprise Multiple YoY | -53.066 % | |
| Enterprise Multiple IPRWA | high: 567.894 CVLT: 177.686 mean: 73.471 median: 61.115 low: -363.609 |
|
| EV/R | 18.262 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 9.404 | |
| Asset To Liability | 1.119 | |
| Debt To Capital | 0.809 | |
| Debt To Assets | 0.451 | |
| Debt To Assets QoQ | -4.895 % | |
| Debt To Assets YoY | 3878.199 % | |
| Debt To Assets IPRWA | high: 0.87 CVLT: 0.451 mean: 0.168 median: 0.087 low: 0.001 |
|
| Debt To Equity | 4.239 | |
| Debt To Equity QoQ | -1.808 % | |
| Debt To Equity YoY | 10417.717 % | |
| Debt To Equity IPRWA | CVLT: 4.239 high: 2.989 mean: 0.25 median: 0.147 low: -1.778 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 26.941 | |
| Price To Book QoQ | -27.918 % | |
| Price To Book YoY | 10.238 % | |
| Price To Book IPRWA | CVLT: 26.941 high: 24.203 mean: 10.845 median: 9.178 low: -16.001 |
|
| Price To Earnings (P/E) | 113.334 | |
| Price To Earnings QoQ | -42.243 % | |
| Price To Earnings YoY | -33.333 % | |
| Price To Earnings IPRWA | high: 522.411 mean: 127.43 CVLT: 113.334 median: 101.811 low: -262.004 |
|
| PE/G Ratio | 3.967 | |
| Price To Sales (P/S) | 18.605 | |
| Price To Sales QoQ | -34.674 % | |
| Price To Sales YoY | -30.54 % | |
| Price To Sales IPRWA | high: 116.554 mean: 45.08 median: 44.141 CVLT: 18.605 low: 0.761 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 115.597 | |
| Forward PE/G | 4.046 | |
| Forward P/S | 24.945 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 5.938 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.159 | |
| Asset Turnover Ratio QoQ | -11.127 % | |
| Asset Turnover Ratio YoY | -40.109 % | |
| Asset Turnover Ratio IPRWA | high: 0.4 CVLT: 0.159 mean: 0.13 median: 0.125 low: 0.0 |
|
| Receivables Turnover | 1.052 | |
| Receivables Turnover Ratio QoQ | -6.633 % | |
| Receivables Turnover Ratio YoY | -6.622 % | |
| Receivables Turnover Ratio IPRWA | high: 6.216 mean: 1.578 median: 1.485 CVLT: 1.052 low: 0.392 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 86.741 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | — | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | high: 113.407 mean: 63.698 median: 62.904 low: 21.685 CVLT: 0 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.379 | |
| CapEx To Revenue | -0.007 | |
| CapEx To Depreciation | -0.56 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 1.1 B | |
| Net Invested Capital | $ 1.1 B | |
| Invested Capital | $ 1.1 B | |
| Net Tangible Assets | $ -15.08 M | |
| Net Working Capital | $ 828.4 M | |
| LIQUIDITY | ||
| Cash Ratio | 1.664 | |
| Current Ratio | 2.343 | |
| Current Ratio QoQ | -7.277 % | |
| Current Ratio YoY | 107.939 % | |
| Current Ratio IPRWA | high: 7.11 CVLT: 2.343 mean: 1.813 median: 1.386 low: 0.466 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 28.481 | |
| Cost Of Debt | 0.132 % | |
| Interest Coverage Ratio | 19.65 | |
| Interest Coverage Ratio QoQ | -20.461 % | |
| Interest Coverage Ratio YoY | -86.564 % | |
| Interest Coverage Ratio IPRWA | high: 148.909 median: 66.552 mean: 45.544 CVLT: 19.65 low: -122.007 |
|
| Operating Cash Flow Ratio | -0.171 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 0.52 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 6.323 % | |
| Revenue Growth | 13.63 % | |
| Revenue Growth QoQ | -763.906 % | |
| Revenue Growth YoY | 8.329 % | |
| Revenue Growth IPRWA | high: 19.11 % CVLT: 13.63 % mean: 6.003 % median: 4.635 % low: -10.142 % |
|
| Earnings Growth | 28.571 % | |
| Earnings Growth QoQ | -388.567 % | |
| Earnings Growth YoY | 115.581 % | |
| Earnings Growth IPRWA | high: 153.333 % CVLT: 28.571 % mean: 13.563 % median: 9.783 % low: -163.636 % |
|
| MARGINS | ||
| Gross Margin | 81.106 % | |
| Gross Margin QoQ | 1.294 % | |
| Gross Margin YoY | -0.469 % | |
| Gross Margin IPRWA | high: 94.68 % CVLT: 81.106 % mean: 71.905 % median: 68.036 % low: 37.597 % |
|
| EBIT Margin | 9.073 % | |
| EBIT Margin QoQ | 59.231 % | |
| EBIT Margin YoY | 56.674 % | |
| EBIT Margin IPRWA | high: 78.69 % median: 60.268 % mean: 46.491 % CVLT: 9.073 % low: -97.081 % |
|
| Return On Sales (ROS) | 10.087 % | |
| Return On Sales QoQ | 100.139 % | |
| Return On Sales YoY | 74.184 % | |
| Return On Sales IPRWA | high: 76.917 % median: 47.094 % mean: 36.597 % CVLT: 10.087 % low: -76.387 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 1.9 M | |
| Free Cash Flow Yield | 0.033 % | |
| Free Cash Flow Yield QoQ | -96.471 % | |
| Free Cash Flow Yield YoY | -92.235 % | |
| Free Cash Flow Yield IPRWA | high: 5.274 % mean: 0.213 % median: 0.164 % CVLT: 0.033 % low: -3.727 % |
|
| Free Cash Growth | -97.383 % | |
| Free Cash Growth QoQ | -166.291 % | |
| Free Cash Growth YoY | 119.366 % | |
| Free Cash Growth IPRWA | high: 265.627 % mean: -23.505 % median: -77.08 % CVLT: -97.383 % low: -204.458 % |
|
| Free Cash To Net Income | 0.108 | |
| Cash Flow Margin | -33.638 % | |
| Cash Flow To Earnings | -5.937 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 0.899 % | |
| Return On Assets QoQ | -5.567 % | |
| Return On Assets YoY | -19.155 % | |
| Return On Assets IPRWA | high: 16.207 % median: 5.909 % mean: 4.89 % CVLT: 0.899 % low: -10.846 % |
|
| Return On Capital Employed (ROCE) | 2.003 % | |
| Return On Equity (ROE) | 0.082 | |
| Return On Equity QoQ | 17.231 % | |
| Return On Equity YoY | 114.286 % | |
| Return On Equity IPRWA | high: 0.344 median: 0.098 mean: 0.086 CVLT: 0.082 low: -0.282 |
|
| DuPont ROE | 8.325 % | |
| Return On Invested Capital (ROIC) | 1.709 % | |
| Return On Invested Capital QoQ | 21.292 % | |
| Return On Invested Capital YoY | -135.723 % | |
| Return On Invested Capital IPRWA | high: 20.316 % median: 9.056 % mean: 7.286 % CVLT: 1.709 % low: -11.474 % |
|