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Duolingo, Inc. DUOL

Nasdaq · stock · Services-Prepackaged Software · website · IPO 2021-07-28

Duolingo, Inc. statistics & valuation

Market cap$5.7B
P / E13.7×
P / S5.5×
P / B4.2×
P / FCF15.3×
Net margin39.9%
Return on equity30.7%
FCF margin35.6%
Return on capital9.4%
Graham number -45.5%$73.33

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($73.33); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
-9.80% -24.00% -16.10% 3.00% 11.80% 39.90% 202020212022202320242025
Gross margin (%)
71.60% 72.40% 73.10% 73.20% 72.80% 72.20% 202020212022202320242025
Operating margin (%)
-9.90% -23.90% -17.60% -2.50% 8.40% 13.10% 202020212022202320242025
Return on equity (%)
-11.70% -11.00% 2.50% 10.70% 30.70% 202020212022202320242025
Shares outstanding
12.8M 23.4M 39.5M 46.5M 47.1M 48.3M 202020212022202320242025
Net debt ($)
202020212022202320242025
Share buybacks ($)
202020212022202320242025
Return on assets (%)
-9.00% -9.10% -8.00% 1.70% 6.80% 20.80% 202020212022202320242025
Free cash flow margin (%)
8.90% 2.20% 13.00% 28.30% 36.50% 35.60% 202020212022202320242025
Debt / equity (×)
202020212022202320242025
EPS ($)
-$1.24 -$2.57 -$1.51 $0.35 $1.88 $8.57 202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020
Gross margin72.2%72.8%73.2%73.1%72.4%71.6%
Operating margin13.1%8.4%-2.5%-17.6%-23.9%-9.9%
Net margin39.9%11.8%3.0%-16.1%-24.0%-9.8%
FCF margin35.6%36.5%28.3%13.0%2.2%8.9%
Return on assets20.8%6.8%1.7%-8.0%-9.1%-9.0%
Return on equity30.7%10.7%2.5%-11.0%-11.7%19.6%
Current ratio2.612.613.243.845.202.41

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.