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CommVault Systems

CVLT Nasdaq Systems Software Financials FY2017–FY2026

CommVault Systems' revenue rose 18.9% to $1.2 billion in fiscal 2026. Its operating margin was 6.2%, down from 7.4% a year earlier. Free cash flow was $237 million, up 16.5%. It paid out $446 million in dividends and buybacks, 188% of free cash flow. The diluted share count fell 1.2%.

Last close · Oct 23, 2026

$169.37

0.9%
Value it Compare
Revenue Total sales reported in the income statement.
$1.2B
18.9% vs prior year
Operating margin Operating income as a share of revenue.
6.3%
1.2 pts
Net income Profit after all expenses, interest and tax.
$70.7M
7.1%
Free cash flow Cash from operations minus capital spending.
$237M
16.5%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap Last close times the latest diluted share count, so it is approximate.
$7.1B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
107.9x
On $1.57 EPS (TTM)

About these figures. Commvault had no borrowings until its convertible notes of fiscal 2026 (its balance sheets had no debt line), so debt is zero in earlier years.

What CommVault Systems does

No business description yet.

Legal name
Commvault Systems, Inc
Fiscal year ends
March 31, 2026
Latest annual report
—
Accession · CIK
0001169561-26-000017
0001169561

Revenue and margins

CommVault Systems had $1.2B of revenue in fiscal 2026, up 18.9% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $237M in fiscal 2026, 20.0% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

CommVault Systems returned $446M to shareholders in fiscal 2026, 188% of free cash flow. The diluted share count fell 1.2%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value CommVault Systems yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of $19.1M and divides by 44.7M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 107.9x · peers 37.5x · sector 33.0x.

Balance sheet

Cash, debt and the ratios that show how comfortably CommVault Systems can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY22FY23FY24FY25FY26
Cash and short-term investments $268M$288M$313M$302M$900M
Debt incl. finance leases $0.0M$0.0M$0.0M$0.0M$881M
Net debt / EBITDA −5.1x—−3.8x−3.7x−0.2x
Debt / equity 0.0x0.0x0.0x0.0x—
Interest coverage 381.3x−33.7x181.6x177.3x19.5x
Current ratio 1.2x1.3x1.2x1.1x2.0x
Quick ratio 1.2x1.3x1.2x1.1x2.0x
Total assets $816M$783M$944M$1.1B$1.9B
Total liabilities $560M$597M$666M$793M$1.9B
Shareholders' equity $256M$186M$278M$325M$7.5M
Net debt (− = net cash) −$268M−$288M−$313M−$302M−$19.1M

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$4.4M

7 insiders

Of sales under plans

95%

$4.2M

DateInsiderTradeSharesPriceValueFiling
Sep 11, 2026 Nicola AdamoDirector Sold 1,530 $131.66 $0.2M Form 4
Aug 19, 2026 Danielle Nicole AbrahamsenChief Accounting Officer Sold plan 486 $142.80 $0.1M Form 4
Aug 19, 2026 Gary MerrillChief Financial Officer Sold plan 1,293 $142.80 $0.2M Form 4
Aug 19, 2026 Sanjay MirchandaniPresident & CEO, Director Sold plan 6,857 $142.80 $1.0M Form 4
Aug 18, 2026 Danielle Nicole AbrahamsenChief Accounting Officer Sold plan 391 $143.64 $0.1M Form 4
Aug 18, 2026 Gary MerrillChief Financial Officer Sold plan 1,854 $143.64 $0.3M Form 4
Aug 18, 2026 Sanjay MirchandaniPresident & CEO, Director Sold plan 4,840 $143.64 $0.7M Form 4
Aug 17, 2026 Danielle Nicole AbrahamsenChief Accounting Officer Sold plan 119 $143.98 $0.0M Form 4
Aug 17, 2026 Sanjay MirchandaniPresident & CEO, Director Sold plan 12,437 $143.98 $1.8M Form 4
Aug 10, 2026 Sanders A ShaneDirector Sold plan 476 $134.19 $0.1M Form 4
Aug 10, 2026 Vivie LeeDirector Sold plan 595 $134.19 $0.1M Form 4
Aug 10, 2026 William Geoffrey HaydonPresident of Cust & Field Ops Sold 316 $134.78 $0.0M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY24FY25FY26
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✕ ✕
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✕ ✕ ✕
Current ratio rose ✕ ✕ ✓
Share count didn't rise ✕ ✕ ✓
Gross margin rose ✕ ✓ ✕
Revenue rose relative to assets ✓ ✕ ✓
F-score 5 / 94 / 96 / 9
Accruals ratio −4.0%−12.7%−11.6%
Altman Z'' −1.91−1.96−0.09

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
CommVault Systems CVLT $7.1B 18.9% 6.3% 20.0% — 107.9x 6
Rubrik RBRK $26.5B 48.5% −26.2% 19.2% — — 5 Compare →
UiPath PATH $7.4B 12.7% 3.5% 21.9% 13.7% 21.1x 7 Compare →
Qualys QLYS $7.6B 10.1% 33.2% 45.5% 169.1% 37.5x 6 Compare →
BlackBerry BB $5.8B 2.7% 8.8% 8.5% 7.5% 74.3x 6 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
Income statement
Revenue $645M $699M $711M $671M $724M $770M $785M $839M $996M $1.2B
Gross profit $560M $601M $594M $554M $614M $656M $649M $688M $817M $961M
Research and development $79.6M $91.0M $92.6M $110M $133M $154M $142M $132M $146M $162M
Operating income −$1.2M −$0.9M $4.9M −$17.5M −$22.3M $41.6M −$15.9M $75.4M $73.7M $74.0M
Interest expense $1.0M $1.2M $0.0M $0.0M $0.0M $0.1M $0.5M $0.4M $0.4M $3.8M
Pretax income −$2.0M −$3.5M $10.4M −$12.5M −$21.2M $43.4M −$15.4M $83.6M $81.1M $92.1M
Income tax −$1.5M $58.4M $6.9M −$6.9M $9.7M $9.8M $20.4M −$85.3M $4.9M $21.5M
Net income −$0.5M −$61.9M $3.6M −$5.6M −$31.0M $33.6M −$35.8M $169M $76.1M $70.7M
Diluted EPS −$0.01 −$1.37 $0.07 −$0.12 −$0.66 $0.71 −$0.80 $3.75 $1.68 $1.58
Diluted shares 0.04B 0.05B 0.05B 0.05B 0.05B 0.05B 0.04B 0.05B 0.05B 0.04B
Cash flow
Cash from operations $100M $84.2M $110M $88.5M $124M $177M $170M $204M $207M $245M
Capital expenditure $6.4M $7.0M $6.6M $3.2M $8.2M $3.9M $3.2M $4.1M $3.8M $7.5M
Free cash flow $93.6M $77.1M $104M $85.3M $116M $173M $167M $200M $204M $237M
Depreciation and amortization $10.2M $11.8M $12.1M $17.1M $15.9M $10.9M $10.3M $6.4M $9.1M $10.3M
Stock-based compensation $73.9M $74.1M $80.5M $65.9M $84.8M $105M $106M $94.6M $113M $123M
Acquisitions $0.0M $0.0M $0.0M $158M $0.0M $16.9M $0.0M $0.0M $65.3M $25.8M
Share buybacks $50.0M $112M $133M $77.2M $95.3M $305M $151M $184M $165M $446M
Dividends paid $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Dividends and buybacks $50.0M $112M $133M $77.2M $95.3M $305M $151M $184M $165M $446M
Balance sheet
Cash and short-term investments $450M $462M $458M $332M $397M $268M $288M $313M $302M $900M
Total debt $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $881M
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets $606M $647M $655M $514M $608M $484M $551M $595M $635M $1.3B
Current liabilities $288M $324M $326M $329M $373M $394M $410M $485M $555M $658M
Inventory $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Property and equipment, net $132M $129M $123M $115M $113M $107M $8.3M $8.0M $8.3M $9.8M
Total assets $830M $819M $823M $845M $904M $816M $783M $944M $1.1B $1.9B
Total liabilities $363M $415M $431M $433M $510M $560M $597M $666M $793M $1.9B
Shareholders' equity $467M $404M $391M $412M $394M $256M $186M $278M $325M $7.5M
Margins
Gross margin 86.8% 86.0% 83.5% 82.6% 84.9% 85.2% 82.7% 81.9% 82.0% 81.2%
Operating margin −0.2% −0.1% 0.7% −2.6% −3.1% 5.4% −2.0% 9.0% 7.4% 6.3%
EBITDA margin 1.4% 1.6% 2.4% −0.1% −0.9% 6.8% −0.7% 9.7% 8.3% 7.1%
Net margin −0.1% −8.9% 0.5% −0.8% −4.3% 4.4% −4.6% 20.1% 7.6% 6.0%
FCF margin 14.5% 11.0% 14.6% 12.7% 16.0% 22.5% 21.3% 23.8% 20.5% 20.0%
Returns
Return on capital employed −0.3% −0.2% 1.0% −3.5% −4.3% 8.7% −4.0% 18.1% 14.4% 8.3%
Return on equity −0.1% −14.2% 0.9% −1.4% −7.7% 10.4% −16.2% 72.8% 25.2% 42.5%
Return on assets −0.1% −7.5% 0.4% −0.7% −3.5% 3.9% −4.5% 19.6% 7.4% 4.7%
Growth
Revenue growth 8.6% 8.4% 1.7% −5.6% 7.8% 6.4% 2.0% 7.0% 18.6% 18.9%
Net income growth −129.5% — — −258.5% — — −206.4% — −54.9% −7.2%
EPS growth −125.0% — — −271.4% — — −212.7% — −55.2% −6.0%
FCF growth 19.8% −17.6% 34.4% −17.7% 35.8% 49.7% −3.6% 19.6% 2.0% 16.5%
Share count change −3.9% 1.2% 5.2% −3.8% 1.9% 1.2% −5.4% 1.0% 0.2% −1.2%
Financial health
Net debt / EBITDA −50.1x −42.7x −27.0x — — −5.1x — −3.8x −3.7x −0.2x
Debt / equity 0.0x 0.0x 0.0x 0.0x 0.0x 0.0x 0.0x 0.0x 0.0x —
Interest coverage −1.3x −0.8x — — — 381.3x −33.7x 181.6x 177.3x 19.5x
Current ratio 2.1x 2.0x 2.0x 1.6x 1.6x 1.2x 1.3x 1.2x 1.1x 2.0x
Quick ratio 2.1x 2.0x 2.0x 1.6x 1.6x 1.2x 1.3x 1.2x 1.1x 2.0x
Capital allocation
Capex / revenue 1.0% 1.0% 0.9% 0.5% 1.1% 0.5% 0.4% 0.5% 0.4% 0.6%
Stock comp / revenue 11.5% 10.6% 11.3% 9.8% 11.7% 13.7% 13.5% 11.3% 11.4% 10.4%
Payouts / FCF 53.4% 145.5% 128.1% 90.5% 82.3% 176.2% 90.4% 92.1% 81.0% 188.1%
Quality scores
Piotroski F-score 6.0 2.0 6.0 3.0 5.0 5.0 5.0 5.0 4.0 6.0
Altman Z'' 3.0 2.1 1.7 0.2 −0.1 −2.0 −3.1 −1.9 −2.0 −0.1
Accruals ratio −13.0% −17.7% −13.0% −11.3% −17.7% −16.7% −25.8% −4.0% −12.7% −11.6%

Source: SEC EDGAR XBRL filings (CIK 0001169561). Data updated October 16, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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