Duolingo, Inc. Financial Ratios — DUOL Stock

Profitability (USD)

	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	- -	- -	- -	-11.29	2.68	11.97	38.14
Return on Assets (%)	- -	-6.21	-12.08	-8.46	1.89	7.85	25.14
Return on Capital (%)	- -	- -	- -	- -	2.57	11.36	- -
Return on Invested Capital (%)	- -	- -	- -	- -	-1.91	6.92	- -
Gross Margin (%)	70.69	71.56	72.41	73.09	73.24	72.78	72.23
EBITDA Margin (%)	-18.19	-8.51	-22.84	-16.33	-1.16	9.82	14.45
Operating Margin (%)	-18.23	-9.9	-23.93	-17.64	-2.5	8.37	13.07
Incremental Operating Margin (%)	- -	- -	- -	- -	32.14	34.97	25.2
Pretax Margin (%)	-19.15	-9.71	-23.91	-15.87	3.35	13.68	17.58
Profit Margin (%)	-19.15	-9.76	-23.98	-16.12	3.03	11.84	39.91
Net Income to Common Margin (%)	-19.15	-9.76	-23.98	-16.12	3.03	11.84	39.91
Effective Tax Rate (%)	- -	- -	- -	- -	9.62	13.42	- -
Dvd Payout Ratio (%)	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	- -	- -	-11.29	2.68	11.97	38.14

Credit (USD)

Credit Ratios API ChatGPT

	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	10	9	32	28	25	55	94
ST Debt	1	1	3	5	4	- -	- -
LT Debt	9	8	29	24	21	55	94
Total Debt/EBITDA	-0.79	-0.67	-0.57	-0.47	-4.06	0.74	0.63
Net Debt/EBITDA	4.65	8.76	9.67	10.08	121.29	-10.7	-6.91
Total Debt/EBIT	-0.72	-0.58	-0.54	-0.44	-1.89	0.87	0.69
Net Debt/EBIT	4.24	7.53	9.23	9.33	56.39	-12.55	-7.64
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	-48.27	-24.15	77.58	72.53	68.71	63.34	67.61
Long-Term Debt/Equity (%)	- -	- -	5.68	4.34	3.22	6.63	6.96
Long-Term Debt/Capital (%)	-12.53	-11.38	5.34	4.12	3.1	6.22	6.51
Long-Term Debt/Total Assets (%)	5.31	2.43	4.4	3.14	2.21	4.2	4.71
Total Debt/Equity (%)	-12.17	-11.45	6.33	5.24	3.82	6.63	6.96
Total Debt/Capital (%)	-13.85	-12.94	5.95	4.98	3.68	6.22	6.51
Total Debt/Total Assets (%)	5.87	2.77	4.91	3.8	2.62	4.2	4.71
Net Debt to Equity	71.26	149.32	-107.97	-112.19	-114.05	-95.3	-76.94
Net Debt/Capital (%)	44.79	62.78	6,589.6	1,613.38	1,114.65	-841.18	-256.28
EBITDA	-13	-14	-57	-60	-6	73	150
EBITDA-CapEx	-18	-18	-63	-70	-9	61	132
Operating Income (Loss)	-13	-16	-60	-65	-13	63	136

Liquidity (USD)

Liquidity Ratios API ChatGPT

	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	1.86	1.83	4.65	3.35	2.7	2.08	2.07
Current Ratio	2.46	2.41	5.2	3.84	3.24	2.61	2.61
Quick Ratio	2.18	2.15	4.93	3.6	3.02	2.38	2.39
CFO/Avg Current Liab	- -	0.36	0.1	0.36	0.67	0.82	0.8
Common Equity/Total Assets	-48.27	-24.15	77.58	72.53	68.71	63.34	67.61
Long-Term Debt/Equity (%)	- -	- -	5.68	4.34	3.22	6.63	6.96
Long-Term Debt/Capital (%)	-12.53	-11.38	5.34	4.12	3.1	6.22	6.51
Long-Term Debt/Total Assets (%)	5.31	2.43	4.4	3.14	2.21	4.2	4.71
Total Debt/Equity (%)	-12.17	-11.45	6.33	5.24	3.82	6.63	6.96
Total Debt/Capital (%)	-13.85	-12.94	5.95	4.98	3.68	6.22	6.51
Total Debt/Total Assets (%)	5.87	2.77	4.91	3.8	2.62	4.2	4.71
CFO/Total Liabilities	0.83	4.27	6.19	26.14	51.47	59.83	60.11
CFO/CapEx	0.41	4.41	1.48	5.3	48.14	23.56	21.43
Altman's Z-Score	- -	- -	- -	- -	- -	18.92	9.12

Working Capital (USD)

Working Capital Ratios API ChatGPT

	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	- -	10.62	9.35	9.25	7.83	6.87	7.11
Days Sales Outstanding	- -	34.37	39.02	39.46	46.63	53.16	51.32
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

Enterprise Value API ChatGPT

	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	- -	- -	- -	- -	- -	14,052	8,164
- Cash & Cash Equivalents	60	120	554	608	748	786	1,036
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	10	9	32	28	25	55	94
Enterprise Value	- -	- -	- -	- -	- -	13,229	7,117
Total Capital	-74	-71	546	570	681	879	1,441
Total Debt/Capital (%)	-13.85	-12.94	5.95	4.98	3.68	6.22	6.51
Total Debt / EV	- -	- -	- -	- -	- -	- -	0.01
EV/Sales	- -	- -	- -	- -	- -	17.69	6.86
EV/EBITDA	- -	- -	- -	- -	- -	180.12	47.46
EV/EBIT	- -	- -	- -	- -	- -	211.35	52.5
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	46.34	- -
EV/Free Cash Flow to Firm	- -	- -	- -	- -	- -	48.39	- -
Diluted Market Cap	- -	- -	- -	- -	- -	14,052	8,164
Diluted Enterprise Value	- -	- -	- -	- -	- -	13,229	7,117
EV per Share	- -	- -	- -	- -	- -	294.41	152.63
TTM Sales	71	162	251	369	531	748	1,038
TTM EBITDA	-13	-14	-57	-60	-6	73	150
TTM Operating Income	-13	-16	-60	-65	-13	63	136
TTM Cash Flow to Firm	- -	- -	- -	- -	154	286	- -
TTM Free Cash Flow to Firm	- -	- -	- -	- -	150	273	- -

Multiples (USD)

Valuation Multiples API ChatGPT

	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	- -	- -	- -	- -	- -	51.4	22.08
EV/EBIT	- -	- -	- -	- -	- -	211.35	52.5
Enterprise Value	- -	- -	- -	- -	- -	13,229	7,117
Low Price	- -	- -	- -	- -	- -	194.31	167.15
EV/Sales	- -	- -	- -	- -	- -	17.69	6.86
EV/EBITDA	- -	- -	- -	- -	- -	180.12	47.46
Price/Earnings	- -	- -	- -	- -	- -	158.65	19.72
Price/Earnings Average	- -	- -	- -	- -	- -	135.15	31.96
Price/Earnings High	- -	- -	- -	- -	- -	165.97	59.06
Price/Earnings Low	- -	- -	- -	- -	- -	98.58	18.82
Price/Book Value	- -	- -	- -	- -	- -	17.04	6.06
Price/Book Value Average	- -	- -	- -	- -	- -	14.52	9.82
Price/Book Value High	- -	- -	- -	- -	- -	17.83	18.16
Price/Book Value Low	- -	- -	- -	- -	- -	10.59	5.79
Price/Tangible Book Value	- -	- -	- -	- -	- -	17.7	6.36
Price/Tangible Book Value Average	- -	- -	- -	- -	- -	15.07	10.31
Price/Tangible Book Value High	- -	- -	- -	- -	- -	18.51	19.06
Price/Tangible Book Value Low	- -	- -	- -	- -	- -	11	6.07
Price/Sales	- -	- -	- -	- -	- -	18.79	7.87
Price/Sales Average	- -	- -	- -	- -	- -	16	12.75
Price/Sales High	- -	- -	- -	- -	- -	19.65	23.57
Price/Sales Low	- -	- -	- -	- -	- -	11.67	7.51
Price/Cash Flow	- -	- -	- -	- -	- -	49.22	21.05
Price/Cash Flow Average	- -	- -	- -	- -	- -	41.93	34.12
Price/Cash Flow High	- -	- -	- -	- -	- -	51.49	63.06
Price/Cash Flow Low	- -	- -	- -	- -	- -	30.58	20.1
Price/Free Cash Flow Average	- -	- -	- -	- -	- -	43.79	35.79
Price/Free Cash Flow High	- -	- -	- -	- -	- -	53.77	66.15
Price/Free Cash Flow Low	- -	- -	- -	- -	- -	31.94	21.08
EV/Sales Average	- -	- -	- -	- -	- -	14.9	11.74
EV/Sales High	- -	- -	- -	- -	- -	18.55	22.56
EV/Sales Low	- -	- -	- -	- -	- -	10.57	6.5
EV/EBITDA Average	- -	- -	- -	- -	- -	151.77	81.26
EV/EBITDA High	- -	- -	- -	- -	- -	188.95	156.1
EV/EBITDA Low	- -	- -	- -	- -	- -	107.67	44.99
EV/EBIT Average	- -	- -	- -	- -	- -	178.09	89.89
EV/EBIT High	- -	- -	- -	- -	- -	221.71	172.67
EV/EBIT Low	- -	- -	- -	- -	- -	126.34	49.77
Last Price	- -	- -	- -	- -	- -	312.72	175.08
High Price	- -	- -	- -	- -	- -	327.15	524.49
Enterprise Value Average	- -	- -	- -	- -	- -	11,148	12,186
Enterprise Value High	- -	- -	- -	- -	- -	13,878	23,409
Enterprise Value Low	- -	- -	- -	- -	- -	7,909	6,747

Per Share Data Items (USD)

Per-Share Data API ChatGPT

	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Shares Outstanding	36	36	38	40	43	45	47
Diluted Weighted Avg Shares	32	32	38	39	46	45	47
Basic Weighted Avg Shares	32	32	38	39	41	45	47
Revenue per Share	2.22	5.05	6.55	9.37	12.89	16.65	22.25
EBITDA per Share	-0.4	-0.43	-1.5	-1.53	-0.15	1.63	3.22
Operating Income per Share	-0.41	-0.5	-1.57	-1.65	-0.32	1.39	2.91
Basic EPS, GAAP	-0.43	-0.49	-1.57	-1.51	0.39	1.97	8.88
Basic EPS from Cont Ops	-0.43	-0.49	-1.57	-1.51	0.39	1.97	8.88
Diluted EPS, GAAP	-0.43	-0.49	-1.57	-1.51	0.35	1.97	8.88
Diluted EPS from Cont Ops	-0.43	-0.49	-1.57	-1.51	0.35	1.97	8.88
Dividend per Share	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	0.07	0.55	0.24	1.36	3.73	6.35	8.32
Free Cash Flow per Basic Share	-0.1	0.43	0.08	1.1	3.65	6.08	7.93
Cash & Equivalents per Share	1.67	3.36	14.47	15.07	17.58	19.53	24.46
Book Value per Share	-2.34	-2.25	13.41	13.43	15.41	18.35	28.89
Tangible Book Value per Share	-2.39	-2.31	13.29	13.12	14.94	17.67	27.52