SMWB NYSE Services-Computer Programming, Data Processing, Etc. Financials FY2019βFY2025
Similarweb Ltd. had $283M of revenue in fiscal 2025, up 13.1% on the year before. Over five years, revenue changed +24.8% a year on average.
Last close Β· Oct 23, 2026
$8.79
0.3%Hi! I read Similarweb Ltd.βs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
+13.1%
Yes. Sales grew 13.1% last year.
Does it make a profit?
β11.7%
No. It lost money last year.
Does profit turn into cash?
4.7%
Partly. 4.7% of sales ends up as free cash.
How healthy are the accounts?
4 / 8
Mixed. It passes 4 of 8 health tests.
How is the share priced?
β
No P/E: it made no profit over the last four quarters.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
KIRA Β· Similarweb Ltd. had $283M of revenue in fiscal 2025, up 13.1% on the year before. Over five years, revenue changed +24.8% a year on average. Its operating margin was β8.3%, down 4.5Β pts: of every 100 in sales, about β8 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Margins, % of revenue
KIRA Β· Similarweb Ltd. lost $32.9M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Diluted EPS
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was $13.2M in fiscal 2025, 4.7% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Cash from operations vs capital spending
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· In the last 12 months, insiders bought $1.0M and sold $15.8M of shares on the open market.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$1.0M
4 insiders
Sold, 12 months
$15.8M
1 insider
Of sales under plans
39%
$6.1M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 24, 2026 | Or OfferChief Executive Officer | Sold plan | 114,300 | $7.69 | $0.9M | Form 4 |
| Sep 23, 2026 | Or OfferChief Executive Officer | Sold plan | 28,400 | $8.54 | $0.2M | Form 4 |
| Sep 22, 2026 | Or OfferChief Executive Officer | Sold plan | 34,500 | $8.38 | $0.3M | Form 4 |
| Sep 21, 2026 | Or OfferChief Executive Officer | Sold plan | 32,200 | $8.40 | $0.3M | Form 4 |
| Sep 18, 2026 | Or OfferChief Executive Officer | Sold plan | 37,500 | $8.25 | $0.3M | Form 4 |
| Sep 17, 2026 | Or OfferChief Executive Officer | Sold plan | 30,400 | $8.35 | $0.3M | Form 4 |
| Sep 16, 2026 | Or OfferChief Executive Officer | Sold plan | 45,719 | $8.40 | $0.4M | Form 4 |
| Sep 15, 2026 | Or OfferChief Executive Officer | Sold plan | 26,691 | $8.53 | $0.2M | Form 4 |
| Sep 15, 2026 | Or OfferChief Executive Officer | Sold plan | 26,691 | $8.53 | $0.2M | Form 4 |
| Sep 14, 2026 | Or OfferChief Executive Officer | Sold plan | 52,900 | $8.54 | $0.5M | Form 4 |
| Sep 14, 2026 | Or OfferChief Executive Officer | Sold plan | 52,900 | $8.54 | $0.5M | Form 4 |
| Sep 11, 2026 | Or OfferChief Executive Officer | Sold plan | 59,000 | $8.05 | $0.5M | Form 4 |
| Sep 10, 2026 | Or OfferChief Executive Officer | Sold plan | 59,200 | $8.06 | $0.5M | Form 4 |
| Sep 9, 2026 | Or OfferChief Executive Officer | Sold plan | 86,300 | $8.06 | $0.7M | Form 4 |
| Sep 8, 2026 | Or OfferChief Executive Officer | Sold plan | 60,700 | $8.33 | $0.5M | Form 4 |
| Aug 26, 2026 | Or OfferChief Executive Officer | Sold | 383,127 | $9.00 | $3.4M | Form 4 |
| Aug 14, 2026 | Or OfferChief Executive Officer | Sold | 134,992 | $8.87 | $1.2M | Form 4 |
| Aug 13, 2026 | Or OfferChief Executive Officer | Sold | 574,605 | $8.80 | $5.1M | Form 4 |
| Jun 1, 2026 | Or OfferChief Executive Officer, Director | Bought | 50,000 | $4.15 | $0.2M | Form 4 |
| May 21, 2026 | Barak EilamDirector | Bought | 50,000 | $3.86 | $0.2M | Form 4 |
| May 20, 2026 | Harel Moshe Beit-OnDirector | Bought | 75,000 | $3.89 | $0.3M | Form 4 |
| May 19, 2026 | Or OfferChief Executive Officer, Director | Bought | 53,000 | $3.58 | $0.2M | Form 4 |
| May 18, 2026 | Or OfferChief Executive Officer, Director | Bought | 3,105 | $3.20 | $0.0M | Form 4 |
| May 18, 2026 | Tamar Rapaport-DagimDirector | Bought | 40,000 | $3.22 | $0.1M | Form 4 |
Can it carry its debts, and how well does it use its money?
Cash, debt and the ratios that show how comfortably Similarweb Ltd. can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $129M | $77.8M | $71.7M | $63.9M | $72.4M |
| Interest coverage | β35.0x | β | β | β | β |
| Current ratio | 1.4x | 0.8x | 0.8x | 0.8x | 0.8x |
| Quick ratio | 1.4x | 0.8x | 0.8x | 0.8x | 0.8x |
| Total assets | $227M | $246M | $239M | $243M | $261M |
| Total liabilities | $142M | $224M | $223M | $215M | $238M |
| Shareholders' equity | $84.9M | $22.0M | $15.5M | $27.5M | $23.3M |
| Net debt (β = net cash) | β | β | β | β | β |
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
KIRA Β· Similarweb Ltd. passes 4 of 8 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β |
| F-score | β / 3 | β / 5 | 2 / 8 | 2 / 8 | 5 / 8 | 5 / 8 | 4 / 8 |
| Accruals ratio | β | β17.6% | β25.0% | β15.9% | β10.9% | β17.3% | β18.9% |
| Altman Z'' | β | β9.28 | β3.23 | β7.62 | β6.59 | β5.99 | β6.63 |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | $70.6M | $93.5M | $138M | $193M | $218M | $250M | $283M |
| Gross profit | $50.1M | $72.1M | $106M | $140M | $171M | $195M | $225M |
| Research and development | $16.2M | $22.1M | $44.4M | $59.9M | $56.2M | $55.6M | $72.6M |
| Operating income | β$16.1M | β$19.7M | β$66.1M | β$87.9M | β$28.8M | β$9.7M | β$23.6M |
| Interest expense | $1.1M | $1.7M | $1.9M | β | β | β | β |
| Pretax income | β$17.2M | β$21.4M | β$68.0M | β$83.1M | β$27.9M | β$9.5M | β$28.8M |
| Income tax | $0.5M | $0.6M | $1.0M | $0.5M | $1.5M | $1.9M | $4.2M |
| Net income | β$17.7M | β$22.0M | β$69.0M | β$83.7M | β$29.4M | β$11.5M | β$32.9M |
| Net income to common | β$17.7M | β$22.8M | β$69.0M | β$83.7M | β | β | β |
| Diluted EPS | β$1.32 | β$1.58 | β$1.30 | β$1.10 | β$0.38 | β$0.14 | β$0.39 |
| Diluted shares | 0.01B | 0.01B | 0.05B | 0.08B | 0.08B | 0.08B | 0.08B |
| Cash flow | |||||||
| Cash from operations | β$9.7M | β$3.8M | β$27.6M | β$46.1M | β$3.0M | $30.2M | $14.6M |
| Capital expenditure | $0.3M | $0.7M | $2.3M | $28.3M | $1.6M | $1.4M | $1.5M |
| Free cash flow | β$10.0M | β$4.5M | β$29.9M | β$74.3M | β$4.6M | $28.7M | $13.2M |
| Depreciation and amortization | $1.8M | $2.0M | $3.2M | $10.6M | $10.3M | $10.5M | $9.0M |
| Stock-based compensation | $2.0M | $4.8M | $11.2M | $17.0M | $18.1M | $17.6M | $21.2M |
| Acquisitions | $0.0M | $0.0M | $9.5M | $3.8M | $0.0M | $15.4M | $15.8M |
| Balance sheet | |||||||
| Cash and short-term investments | $7.0M | $53.9M | $129M | $77.8M | $71.7M | $63.9M | $72.4M |
| Current assets | β | $88.2M | $188M | $142M | $146M | $141M | $150M |
| Current liabilities | β | $108M | $134M | $181M | $184M | $177M | $197M |
| Property and equipment, net | β | $6.1M | $6.4M | $31.8M | $28.6M | $25.9M | $22.0M |
| Goodwill | β | $2.9M | $11.3M | $12.9M | $12.9M | $25.3M | $38.8M |
| Intangible assets | β | $0.0M | $11.6M | $9.6M | $4.8M | $5.6M | $6.8M |
| Total assets | β | $104M | $227M | $246M | $239M | $243M | $261M |
| Total liabilities | β | $113M | $142M | $224M | $223M | $215M | $238M |
| Shareholders' equity | β$129M | β$145M | $84.9M | $22.0M | $15.5M | $27.5M | $23.3M |
| Margins | |||||||
| Gross margin | 70.9% | 77.1% | 76.9% | 72.4% | 78.4% | 78.1% | 79.5% |
| Operating margin | β22.8% | β21.0% | β48.0% | β45.5% | β13.2% | β3.9% | β8.3% |
| EBITDA margin | β20.3% | β18.9% | β45.7% | β40.0% | β8.5% | 0.3% | β5.2% |
| Net margin | β25.1% | β23.5% | β50.1% | β43.3% | β13.5% | β4.6% | β11.7% |
| FCF margin | β14.1% | β4.8% | β21.7% | β38.5% | β2.1% | 11.5% | 4.7% |
| Returns | |||||||
| Return on capital employed | β | 416.6% | β71.2% | β134.9% | β52.5% | β14.7% | β36.5% |
| Return on equity | β | β | β | β156.6% | β156.7% | β53.2% | β129.6% |
| Return on assets | β | β21.2% | β41.7% | β35.4% | β12.1% | β4.8% | β13.1% |
| Return on tangible equity | β | β | β111.3% | β | β | β | β |
| Growth | |||||||
| Revenue growth | β | 32.4% | 47.3% | 40.4% | 12.8% | 14.6% | 13.1% |
| FCF growth | β | β | β | β | β | β | β54.2% |
| Share count change | β | 7.6% | 268.4% | 42.3% | 2.7% | 4.0% | 4.9% |
| Financial health | |||||||
| Interest coverage | β14.2x | β11.7x | β35.0x | β | β | β | β |
| Current ratio | β | 0.8x | 1.4x | 0.8x | 0.8x | 0.8x | 0.8x |
| Quick ratio | β | 0.8x | 1.4x | 0.8x | 0.8x | 0.8x | 0.8x |
| Capital allocation | |||||||
| Capex / revenue | 0.4% | 0.8% | 1.7% | 14.6% | 0.7% | 0.6% | 0.5% |
| Stock comp / revenue | 2.8% | 5.1% | 8.1% | 8.8% | 8.3% | 7.0% | 7.5% |
| Quality scores | |||||||
| Piotroski F-score | β | β | 2.0 | 2.0 | 5.0 | 5.0 | 4.0 |
| Altman Z'' | β | β9.3 | β3.2 | β7.6 | β6.6 | β6.0 | β6.6 |
| Accruals ratio | β | β17.6% | β25.0% | β15.9% | β10.9% | β17.3% | β18.9% |
Source: SEC EDGAR XBRL filings (CIK 0001842731). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.
