Recent News
On April 21, 2026 Elastic announced receipt of the 2026 Google Cloud Partner of the Year Award in the Marketplace category for Data Management & AI; the company highlighted a new AI agent for Gemini Enterprise on the Google Cloud Agent Marketplace. On April 23, 2026 Elastic described a deeper integration with Google Distributed Cloud to deliver its embedded security layer in air‑gapped environments.
Technical Analysis
Directional indicators show a strong trend (ADX 31.63) with a bearish directional bias: the positive directional index recently peaked then reversed while the negative directional index showed a dip-and-reverse, both pointing toward downside pressure on momentum. This pattern elevates short-term directional risk despite trend strength.
MACD currently sits above its signal line (MACD 3.02 vs signal 2.81), which constitutes a bullish crossover, but the MACD has peaked then reversed, signaling that bullish momentum has faded and momentum may shift lower in the near term.
MRO reads positive at 10.5 and rising, indicating price currently sits above the model target and places a corrective impulse on the price — rising MRO suggests potential for mean reversion pressure to build.
RSI at 59.1 peaked then reversed, showing previous buying pressure easing while remaining below overbought extremes; that peak-and-reversal argues for consolidation or pullback risk before any resumption of advance.
Price sits near shorter-term averages: the 20‑day average at $60.72 versus the close at $60.78, the 12‑day EMA recently peaked then reversed at $60.94, and the 50‑day average at $52.29 remains well below price—these layers imply near-term support around the 20‑day and stronger support near the 50‑day. The 200‑day average at $68.93 stays above price, signaling the longer-term trend retains downward pressure relative to multi‑month levels. The super trend lower at $57.97 provides a defined near-term support floor.
Fundamental Analysis
Revenue: total revenue reached $450,681,000 with revenue growth effectively flat at 0.18% year‑over‑year and a steep sequential decline quarter‑to‑quarter (-97.15%), indicating recent top‑line softness versus prior period activity.
Profitability: operating margin remained negative at -3.64% and EBIT margin registered -0.78%. Both margins sit below the industry peer mean and industry peer median for EBIT margin (industry peer mean 7.387%, industry peer median 3.261%), placing Elastic below typical peer profitability levels despite recent improvements in other cash metrics. EBIT margin quarter‑over‑quarter fell by roughly 128.29% and year‑over‑year fell about 365.65% on a percentage basis, reflecting volatile margin dynamics across reported periods.
Earnings & cash: GAAP EPS came in at $0.61 versus estimate $0.56, an EPS surprise of 8.93%. Net income registered at $435,900,000 while operating income stayed negative at -$16,411,000; the swing to net profitability reflects a tax benefit (tax provision -$445,665,000) rather than core operating improvement. Operating cash flow reached $311,459,000 and free cash flow $149,815,000, yielding a free cash flow yield of 2.69%, above the industry peer mean of 1.43%.
Balance sheet and liquidity: cash and short‑term investments total $1,370,262,000 with a cash ratio of 1.14 and current ratio 1.68 (above the industry peer mean current ratio of 1.26), supporting ongoing investment and working capital needs. Debt to equity at 0.46 remains inside the industry peer range for debt‑to‑equity, while debt to assets at 18.76% sits near the industry peer mean for leverage.
Returns and efficiency: return on equity stands at 34.15%, materially above the industry peer mean of about 1.19%, reflecting the distortion between net income and equity; return on assets at 15.59% also sits above typical peers. Asset turnover remains low at 0.161, slightly above the industry peer mean of 0.113, indicating limited revenue per asset dollar.
Valuation: WMDST values the stock as under‑valued. Market multiples show a trailing PE near 87.25 and forward PE near 56.51; price‑to‑book at 4.37 sits below the industry peer mean and industry peer median for P/B (industry peer mean 6.23868, median 5.96235). The enterprise‑to‑revenue ratio (EVR) stands at 10.64. The mixed signals — high trailing multiples versus robust cash balances and above‑peer free cash flow yield — support WMDST’s under‑valued conclusion when measured against the firm’s cash generation profile and partner momentum.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-04-30 |
| REPORT DATE: | 2026-05-28 |
| NEXT REPORT DATE: | 2026-08-27 |
| CASH FLOW | Begin Period Cash Flow | $ 740.9 M |
| Operating Cash Flow | $ 311.5 M | |
| Capital Expenditures | $ -2.90 M | |
| Change In Working Capital | $ 64.6 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 29.6 M | |
| End Period Cash Flow | $ 770.5 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 450.7 M | |
| Forward Revenue | $ 26.1 M | |
| COSTS | ||
| Cost Of Revenue | $ 111.1 M | |
| Depreciation | $ 3.2 M | |
| Depreciation and Amortization | $ 3.2 M | |
| Research and Development | $ 120.3 M | |
| Total Operating Expenses | $ 467.1 M | |
| PROFITABILITY | ||
| Gross Profit | $ 339.6 M | |
| EBITDA | $ -303.00 K | |
| EBIT | $ -3.52 M | |
| Operating Income | $ -16.41 M | |
| Interest Income | — | |
| Interest Expense | $ 6.2 M | |
| Net Interest Income | $ -6.25 M | |
| Income Before Tax | $ -9.77 M | |
| Tax Provision | $ -445.67 M | |
| Tax Rate | 40.0 % | |
| Net Income | $ 435.9 M | |
| Net Income From Continuing Operations | $ 435.9 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.56 | |
| EPS Actual | $ 0.61 | |
| EPS Difference | $ 0.05 | |
| EPS Surprise | 8.929 % | |
| Forward EPS | $ 0.96 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 3.2 B | |
| Intangible Assets | $ 369.5 M | |
| Net Tangible Assets | $ 907.0 M | |
| Total Current Assets | $ 2.0 B | |
| Cash and Short-Term Investments | $ 1.4 B | |
| Cash | $ 768.7 M | |
| Net Receivables | $ 464.4 M | |
| Inventory | — | |
| Long-Term Investments | $ 14.4 M | |
| LIABILITIES | ||
| Accounts Payable | $ 8.6 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 1.2 B | |
| Net Debt | — | |
| Total Debt | $ 591.6 M | |
| Total Liabilities | $ 1.9 B | |
| EQUITY | ||
| Total Equity | $ 1.3 B | |
| Retained Earnings | $ -731.96 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 12.19 | |
| Shares Outstanding | 104.751 M | |
| Revenue Per-Share | $ 4.30 | |
| VALUATION | Market Capitalization | $ 5.6 B |
| Enterprise Value | $ 4.8 B | |
| Enterprise Multiple | -15829.331 | |
| Enterprise Multiple QoQ | -3899.388 % | |
| Enterprise Multiple YoY | -718.51 % | |
| Enterprise Multiple IPRWA | high: 1151.207 mean: 458.125 median: 161.436 low: -246.135 ESTC: -15829.331 |
|
| EV/R | 10.642 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.47 | |
| Asset To Liability | 1.68 | |
| Debt To Capital | 0.317 | |
| Debt To Assets | 0.188 | |
| Debt To Assets QoQ | -22.671 % | |
| Debt To Assets YoY | -18.233 % | |
| Debt To Assets IPRWA | high: 0.447 median: 0.228 ESTC: 0.188 mean: 0.185 low: 0.005 |
|
| Debt To Equity | 0.463 | |
| Debt To Equity QoQ | -38.046 % | |
| Debt To Equity YoY | -27.782 % | |
| Debt To Equity IPRWA | high: 1.906 mean: 0.529 ESTC: 0.463 median: 0.356 low: 0.006 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 4.367 | |
| Price To Book QoQ | -52.35 % | |
| Price To Book YoY | -57.765 % | |
| Price To Book IPRWA | high: 16.13 mean: 6.239 median: 5.962 ESTC: 4.367 low: -10.151 |
|
| Price To Earnings (P/E) | 87.248 | |
| Price To Earnings QoQ | -91.227 % | |
| Price To Earnings YoY | -54.865 % | |
| Price To Earnings IPRWA | high: 475.758 mean: 175.709 median: 145.738 ESTC: 87.248 low: -188.036 |
|
| PE/G Ratio | 0.113 | |
| Price To Sales (P/S) | 12.37 | |
| Price To Sales QoQ | -23.239 % | |
| Price To Sales YoY | -49.887 % | |
| Price To Sales IPRWA | high: 54.952 median: 37.893 mean: 33.561 ESTC: 12.37 low: 4.65 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 56.507 | |
| Forward PE/G | 0.073 | |
| Forward P/S | 213.987 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -721.742 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.161 | |
| Asset Turnover Ratio QoQ | -11.941 % | |
| Asset Turnover Ratio YoY | 2.161 % | |
| Asset Turnover Ratio IPRWA | high: 0.21 ESTC: 0.161 mean: 0.113 median: 0.102 low: 0.048 |
|
| Receivables Turnover | 1.097 | |
| Receivables Turnover Ratio QoQ | -24.624 % | |
| Receivables Turnover Ratio YoY | -8.79 % | |
| Receivables Turnover Ratio IPRWA | high: 2.745 mean: 1.423 median: 1.209 ESTC: 1.097 low: 0.819 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 83.197 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | — | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | — | |
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.551 | |
| CapEx To Revenue | -0.006 | |
| CapEx To Depreciation | -0.9 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 1.8 B | |
| Net Invested Capital | $ 1.8 B | |
| Invested Capital | $ 1.8 B | |
| Net Tangible Assets | $ 907.0 M | |
| Net Working Capital | $ 818.3 M | |
| LIQUIDITY | ||
| Cash Ratio | 1.137 | |
| Current Ratio | 1.679 | |
| Current Ratio QoQ | -7.637 % | |
| Current Ratio YoY | -12.324 % | |
| Current Ratio IPRWA | high: 4.221 ESTC: 1.679 mean: 1.261 median: 1.053 low: 0.665 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | -1952.353 | |
| Cost Of Debt | 0.635 % | |
| Interest Coverage Ratio | -0.564 | |
| Interest Coverage Ratio QoQ | -128.384 % | |
| Interest Coverage Ratio YoY | -388.445 % | |
| Interest Coverage Ratio IPRWA | high: 54.688 median: 7.387 mean: 7.018 ESTC: -0.564 low: -7.182 |
|
| Operating Cash Flow Ratio | 0.258 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 16.237 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 29.292 % | |
| Revenue Growth | 0.178 % | |
| Revenue Growth QoQ | -97.145 % | |
| Revenue Growth YoY | -89.29 % | |
| Revenue Growth IPRWA | high: 15.729 % mean: 4.284 % median: 4.257 % ESTC: 0.178 % low: -13.038 % |
|
| Earnings Growth | 771.429 % | |
| Earnings Growth QoQ | -773.249 % | |
| Earnings Growth YoY | -3137.481 % | |
| Earnings Growth IPRWA | ESTC: 771.429 % high: 10.345 % median: -5.556 % mean: -15.451 % low: -73.529 % |
|
| MARGINS | ||
| Gross Margin | 75.357 % | |
| Gross Margin QoQ | -1.289 % | |
| Gross Margin YoY | 0.71 % | |
| Gross Margin IPRWA | high: 90.951 % ESTC: 75.357 % median: 75.298 % mean: 74.166 % low: 63.318 % |
|
| EBIT Margin | -0.781 % | |
| EBIT Margin QoQ | -128.287 % | |
| EBIT Margin YoY | -365.646 % | |
| EBIT Margin IPRWA | high: 29.524 % mean: 7.387 % median: 3.261 % ESTC: -0.781 % low: -21.178 % |
|
| Return On Sales (ROS) | -3.641 % | |
| Return On Sales QoQ | -2777.206 % | |
| Return On Sales YoY | -1338.435 % | |
| Return On Sales IPRWA | high: 29.524 % mean: 5.201 % median: -2.208 % ESTC: -3.641 % low: -23.448 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 149.8 M | |
| Free Cash Flow Yield | 2.687 % | |
| Free Cash Flow Yield QoQ | 365.685 % | |
| Free Cash Flow Yield YoY | 203.616 % | |
| Free Cash Flow Yield IPRWA | high: 7.322 % ESTC: 2.687 % mean: 1.434 % median: 0.534 % low: -0.862 % |
|
| Free Cash Growth | 258.401 % | |
| Free Cash Growth QoQ | 325.492 % | |
| Free Cash Growth YoY | -9381.645 % | |
| Free Cash Growth IPRWA | ESTC: 258.401 % high: 105.208 % median: 23.164 % mean: 22.589 % low: -134.476 % |
|
| Free Cash To Net Income | 0.344 | |
| Cash Flow Margin | 69.109 % | |
| Cash Flow To Earnings | 0.715 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 15.593 % | |
| Return On Assets QoQ | 4850.159 % | |
| Return On Assets YoY | -2444.812 % | |
| Return On Assets IPRWA | ESTC: 15.593 % high: 4.025 % mean: 0.565 % median: 0.248 % low: -3.342 % |
|
| Return On Capital Employed (ROCE) | -0.181 % | |
| Return On Equity (ROE) | 0.341 | |
| Return On Equity QoQ | 3384.49 % | |
| Return On Equity YoY | -2032.541 % | |
| Return On Equity IPRWA | ESTC: 0.341 high: 0.154 mean: 0.012 median: 0.006 low: -0.152 |
|
| DuPont ROE | 42.166 % | |
| Return On Invested Capital (ROIC) | -0.114 % | |
| Return On Invested Capital QoQ | -120.841 % | |
| Return On Invested Capital YoY | -290.0 % | |
| Return On Invested Capital IPRWA | high: 12.019 % mean: 0.904 % median: 0.33 % ESTC: -0.114 % low: -6.95 % |
|