GitLab Inc. (GTLB)

NASDAQ: GTLB · USD

$57.9

+1.11 (+1.9%)· Recorded snapshot

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StockMarketAgent Research · Analyzed 2026-10-22

Our latest published analysis: GTLB rated Sell

GitLab Inc.'s published Sell conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$35.6 / share

Potential value

$44.8 / share

Upside to FV

-35.7%

from $57.9

Moat

7/10

Narrow

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$9.2B
Revenue (ttm)	1.1B
Net income (ttm)	-52.7M
EPS (ttm)	-$0.31
Shares out	166.6M
P/E (forward)	55.3x
Volume	2,232,170
Beta	0.99

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 1.1B
Net income (ttm): -52.7M
EPS (ttm): -$0.31
P/E (forward): 55.3x
Market cap: $9.2B

Item	P1	P2	P3	P4	P5	Trend
Period	2022-01-31	2023-01-31	2024-01-31	2025-01-31	2026-01-31	Trend
Revenue	$252.7M	$424.3M	$579.9M	$759.2M	$955.2M	+39.4%
Gross profit	$222.7M	$372.7M	$520.2M	$674.1M	$834.5M	+39.1%
Operating income	$-129.0M	$-211.4M	$-187.4M	$-142.7M	$-70.5M	—
Net income	$-155.1M	$-173.4M	$-425.7M	$-6.3M	$-56.0M	—
EPS (diluted)	$-1.95	$-1.17	$-2.76	$-0.04	$-0.34	—
EBITDA	$-157.9M	$-172.2M	$-157.9M	$-74.8M	$-36.7M	—
R&D	$97.2M	$156.1M	$200.8M	$239.7M	$274.6M	+29.6%
SG&A	$63.7M	$117.9M	$150.4M	$192.9M	$195.7M	+32.4%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
AI	C3.ai, Inc.	2B	—	8.4x	-35.6%	+3.6%	-33.6%	Bán
BAX	Baxter International Inc.	13.1B	—	1.2x	6.8%	-1.2%	+9.9%	Mua
CNC	Centene Corporation	33.2B	22.7x	0.2x	6.9%	+9.6%	+101.2%	Giảm
AAPL	Apple Inc.	5T	39.4x	10.8x	101.6%	+6.1%	+28.5%	Bán
ACN	Accenture plc	144.3B	18.0x	2.0x	27.9%	+8.0%	+0.4%	Giữ
ADBE	Adobe Inc.	97.1B	13.9x	3.7x	57.2%	+11.5%	-30.7%	Mua mạnh

Base and Bull scenarios

Bull20%

Price target

$44.81

-19.2% from spot

GitLab establishes itself as the indispensable orchestration layer for agentic software engineering. Rapid enterprise uptake of GitLab Duo and Flex consumption contracts accelerates paid consumption run-rates to record highs. Ultimate tier upgrades surge across European and US enterprise accounts, while automated model routing drives substantial gross margin expansion, resulting in superior free cash flow compounding.

Revenue growth accelerates meaningfully in FY2027 and maintains elevated momentum through FY2031 driven by Duo Agent Platform adoption.
Non-GAAP operating margin achieves rapid expansion in FY2027 and reaches peak leverage by FY2031.
Share repurchase programs neutralize annual stock-based compensation dilution to negligible net levels.
Terminal revenue multiple expands substantially reflecting premium AI orchestration positioning.

Base55%

Price target

$35.64

-35.7% from spot

GitLab executes steadily on DevSecOps toolchain consolidation, maintaining high gross retention and gradually scaling GitLab Flex consumption commitments. Dedicated SaaS gross margins stabilize within management target corridors, allowing sales and marketing efficiency to drive non-GAAP operating margin expansion toward long-term targets. Free cash flow grows steadily, backed by a substantial net cash cushion.

Revenue growth meets guidance of 18.5% in FY2027 ($1,132M) and fades gracefully to 11.0% by FY2031.
Non-GAAP operating margin expands from 13.3% in FY2027 to 20.0% in FY2031.
Diluted share count expands at 3.1% in FY2027 and moderates to 1.2% by FY2031.
Terminal EV/revenue multiple is 5.0x and terminal P/E is 28.0x, discounted at 9.728% WACC,.

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($35.64). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	2.5%	2.8%	3.0%	3.3%	3.5%
8.7%	$40.1	$40.1	$40.1	$40.1	$40.1
9.2%	$39.3	$39.3	$39.3	$39.3	$39.3
9.7%	$35.6	$35.6	$35.6	$35.6	$35.6
10.2%	$37.8	$37.8	$37.8	$37.8	$37.8
10.7%	$37.1	$37.1	$37.1	$37.1	$37.1

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E55.3

P25 n/aP50 n/aP75 n/a

Trailing P/E0

P25 n/aP50 n/aP75 n/a

ROE-5.7

P25 n/aP50 n/aP75 n/a

ROIC-4.2

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All GTLB indicators

Market & fundamental data

Available fields

222

Groups with data

Currency

USD

Showing 222 of 222 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0001653482
Company name	GitLab Inc.
Country	United States
Country code	US
CUSIP number	37637K108
Earnings date	2026-12-01
Earnings time	amc
Employees	2,580
Employees change	205
Employees growth	8.63%
Enterprise value	$8.4B
Exchange	NASDAQ
Financial currency	USD
Financial report date	2026-07-31
First seen	2026-05-09
Fiscal year end	January
Founded	2011
Industry	Software - Infrastructure
IPO date	2021-10-14
Is primary listing	Yes
Is SPAC	No
ISIN number	US37637K1088
Last 10-K release date	2026-03-17
Last earnings date	2026-09-01
Last refreshed	2026-10-28
Last stock split type	Never
Market cap	$9.7B
Market cap category	Mid-Cap
Next earnings date	2026-12-01
Options	Yes
Price	$57.93
Price currency	USD
Sector	Technology
SIC code	7372
Stock price date	2026-10-28
Symbol	GTLB
U.S. state	California
Website	https://about.gitlab.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	56.79x
Earnings yield	-0.54%
EV/FCF	39.06x
EV/Sales	7.91x
FCF / EV yield	2.56%
FCF yield	2.23%
Forward EV/Sales	6.88x
Forward P/E	65.85x
Forward P/S	7.91x
Industry forward P/E	29.48x
Industry P/E	39.18x
P/B ratio	10.27x
P/FCF ratio	44.94x
P/OCF ratio	43.01x
P/S ratio	9.1x
PEG ratio	2.23x
Price / tangible book value	10.64x
Sector forward P/E	18.55x
Sector P/E	32.64x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	-6.05%
EBITDA margin	-5.63%
FCF margin	20.25%
Gross margin	85.9%
Operating margin	-6.05%
Pretax margin	-4.69%
Profit margin	-4.99%
Profit per employee	$-20,422
Revenue per employee	$408,979
ROA	-2.53%
ROA (5Y)	-8.15%
ROCE	-6.39%
ROE	-5.74%
ROE (5Y)	-24.35%
ROIC	-4.24%
SBC / revenue	21.79%
Tax / revenue	0.43%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth years	0
FCF growth	502.08%
Gross profit growth	19.35%
Gross profit growth (Q)	16.66%
Gross profit growth 3Y	26.73%
Gross profit growth 5Y	39.45%
Net income growth years	0
OCF growth	433.36%
OCF growth 3Y	310.37%
Revenue growth	22.99%
Revenue growth (Q)	21.32%
Revenue growth (QoQ)	8.36%
Revenue growth 3Y	28.07%
Revenue growth 5Y	39.98%
Revenue growth quarters	20
Revenue growth years	6

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-9.6M
Depreciation and amortization	$4.5M
EBIT	$-63.9M
EBITDA	$-59.4M
EPS	$-0.31
FCF per share	$1.28
Financing cash flow	$-124.2M
Free cash flow	$213.7M
Free cash flow minus SBC	$-16.2M
Gross profit	$906.4M
Income taxes	$4.6M
Investing cash flow	$-134.2M
Net cash flow	$-34.9M
Net income	$-52.7M
Operating cash flow minus SBC	$-6.6M
Operating income	$-63.9M
Revenue	$1.1B
Stock-based compensation	$229.9M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Altman Z-Score	5.21
Book value per share	$5.53
Debt / equity	0
Goodwill	$17.4M
Long-term assets	$66.8M
Long-term liabilities	$28M
Net cash (debt)	$1.3B
Net cash / market cap	13.09%
Net cash growth	7.92%
Net debt / equity	-1.29
Net debt / FCF	-5.88
Piotroski F-Score	3
Property, plant and equipment	$11.1M
Shareholders' equity	$971.5M
Tangible book value	$902.3M
Tangible book value per share	$5.39
Total assets	$1.7B
Total cash	$1.3B
Total debt	$0
Total liabilities	$690.3M
WACC	9.69%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.67
Current assets	$1.6B
Current liabilities	$662.3M
Current ratio	2.41
Net working capital	$-324.2M
Quick ratio	2.29
Working capital	$932.7M
Working capital turnover	1.16

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	-3.13%
Dividend yield	0%
Shareholder yield	-3.13%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
150-day SMA	$35.52
1D price change	1.95%
1M price change	22.98%
1M total return	22.98%
1W price change	4.75%
1W total return	4.75%
1Y price change	18.76%
1Y return CAGR	18.77%
1Y total return	18.76%
20-day SMA	$53.95
200-day SMA	$33.86
3M price change	75.21%
3M total return	75.21%
3Y price change	36.39%
3Y return CAGR	10.9%
3Y total return	36.39%
50-day SMA	$49.56
50-day SMA vs 200-day SMA	50over200
52-week high	$57.98
52-week high date	2026-10-28
52-week low	$18.73
52-week low date	2026-04-10
5Y price change	-45.24%
5Y return CAGR	-11.35%
5Y total return	-45.24%
6M price change	168.58%
6M total return	168.58%
All-time high	$137.00
All-time high date	2021-11-09
All-time low	$18.73
All-time low date	2026-04-10
Average true range (ATR)	$2.42
Average volume	3.7M
Beta (1Y)	1.67
Beta (2Y)	1.57
Beta (5Y)	0.99
Change from 52-week high	-0.08%
Change from 52-week low	209.29%
Change from all-time high	-57.95%
Change from all-time low	207.58%
Change from open	3.11%
Day's gap	-1.13%
Dollar volume	$129.3M
High price	$58.00
Low price	$56.18
Monthly RSI	59.2
Open price	$56.18
Position in 52-week range	96.15%
Premarket change	-1.44%
Premarket close	$56.82
Premarket price	$56.00
Premarket volume	5.1K
Previous close	$56.82
Price vs 150-day SMA	62.19%
Price vs 20-day SMA	6.79%
Price vs 200-day SMA	70.15%
Price vs 50-day SMA	16.24%
Relative volume	0.6
Return from IPO open	-38.85%
Return from IPO price	-25.15%
RSI	65.6
Sharpe ratio	0.52
Sharpe ratio (3Y)	0.37
Sharpe ratio (5Y)	0.14
Sortino ratio	0.86
Sortino ratio (3Y)	0.65
Sortino ratio (5Y)	0.29
Volume	2.2M
Weekly RSI	71.9
YTD price change	53.5%
YTD total return	53.5%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	138.7M
Float percentage	83.24%
Shares change (QoQ)	-0.73%
Shares change (YoY)	3.13%
Shares held by insiders	9.88%
Shares held by institutions	82.15%
Shares outstanding	166.6M
Short % of float	9.81%
Short % of shares	8.17%
Short ratio	2.3 days

Deeper analysis on GTLB

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this GTLB report

What is the latest published GTLB stock rating?

GitLab Inc. is shown with Sell in the latest published report, analyzed 2026-10-22. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full GTLB analysis?

The full latest published report, analyzed 2026-10-22, lives at /stocks/GTLB/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for GTLB?

The latest published report analyzed 2026-10-22 gives GTLB a fair value of USD 36 and a potential value of USD 45. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the GTLB page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-10-22). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

SellGTLB · Fair value $35.6-35.7%

Read full analysis →

Category	Score	Reading
Valuation	1.5
Management	6.5
Balance Sheet	6.5
Profitability	1.5
Revenue Growth	7.5
Risk Assessment	6.5
Competitive Moat	7.0
Earnings Quality	3.0
Capital Efficiency	2.5

GitLab Inc. (GTLB)

Our latest published analysis: GTLB rated Sell

Price

Financial snapshot

Fair-value bridge

Latest news · GTLB

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All GTLB indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Deeper analysis on GTLB

Frequently asked questions

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