Crowdstrike Holdings Inc (CRWD) is overvalued and Cloudflare Inc (NET) is overvalued.
Both trade above our estimate of their intrinsic value. CRWD is the closer of the two: -571%, against -758% for NET.
Values as of the 22 Sept 2026 close.
A 6.2x revenue multiple, discounted for its losses, values the shares at $37.26; the price of $250.06 is 571% above that value.
Leak Score 53/100 on 7 of 12 signals
A 6.2x revenue multiple, discounted for its losses, values the shares at $41.13; the price of $353.00 is 758% above that value.
Leak Score 46/100 on 7 of 12 signals
| Metric | CRWD | NET |
|---|---|---|
| Verdict | Overvalued | Overvalued |
| Price | $250.06 | $353.00 |
| Intrinsic value | $37.26 | $41.13 |
| Margin of safety | -571% | -758% |
| Leak Score | 53/100 (7/12) | 46/100 (7/12) |
| Market cap | $256.0B | $125.7B |
| Revenue growth, 5 years | 40.6% | 38.1% |
| Operating margin | -1.2% | -7.9% |
| Net margin | 0.7% | -8.2% |
| Return on equity | 0.9% | -14.4% |
| Debt to equity | 0.16 | 2.18 |
| P/E | 7004.5x | — |
| Forward P/E | 156.4x | 211.0x |
| P/B | 50.2x | 77.6x |