Jfrog Ltd

Technology
Computer Software: Prepackaged Software
www.jfrog.com

Moat Score

Market Cap $3.77B
PE -54
Debt -
Cash $50.63M
EV -
FCF $107.78M

Earnings

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Sales & Net Margins

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Earnings	-$69.24M
EBIT	-$65.82M
ROE	-9%
ROA	-6%
FCF	$107.78M
Equity	$773.53M
Growth Stability	1
PE	-54.45
PB	4.87
P/FCF	34.98
P/S	8.8
Price/Cash	0.01
Net Margins	-16%
Gross Margins	77%
Op. Margins	-15%
Sales Growth YoY	19%
Sales Growth QoQ	6%
Sales CAGR	21%
FCF CAGR	28%
Equity CAGR	6%
Earnings Growth YoY	107%

Earnings Growth QoQ	1%
Sales CAGR 5Y	25%
FCF CAGR 5Y	36%
Equity CAGR 5Y	7%
Earnings CAGR 3Y	53%
Sales CAGR 3Y	53%
FCF CAGR 3Y	221%
Equity CAGR 3Y	9%
Market Cap	$3.77B
Revenue	$428.49M
Assets	$1.13B
Cash	$50.63M
Shares Outstanding	109.69M
Moat Score	5%
Working Capital	331.71M
Current Ratio	2.04
Gross Profit	$330.19M
Shares Growth 3y	5%
Equity Growth QoQ	2%
Equity Growth YoY	14%

Assets & ROA

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Stockholders Equity & ROE

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JFrog Ltd provides an end-to-end, hybrid, universal DevOps Platform to achieve Continuous Software Release Management (CSRM). The CSRM platform enables organizations to continuously deliver software updates across any system. Geographically, it derives a majority of revenue from the United States. Its product portfolio includes JFrog Artifactory; JFrog Pipelines; JFrog Xray; JFrog Distribution; JFrog Artifactory Edge; JFrog Mission Control and JFrog Insight.

SEC Filings

Direct access to Jfrog Ltd (FROG) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Jfrog Ltd compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Jfrog Ltd compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

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Jfrog Ltd Discounted Cash Flow

Fully customizable DCF calculator online for Jfrog Ltd.

Years

Calculation mode

= $7.6B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$108M	$138M	$176M	$225M	$288M	$368M	$471M	$602M	$770M	$984M	$1.3B	$13B
DCF		$125M	$146M	$169M	$197M	$229M	$266M	$309M	$359M	$417M	$485M	$4.9B
Value	$7.6B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2018	12/2019	12/2020	12/2021	08/2022	12/2022	12/2023	12/2024	TTM
Net Margins	-41%	-5%	-6%	-31%	-	-32%	-18%	-16%	-16%
ROA	-	-	-2%	-8%	-	-10%	-6%	-6%	-6%
ROE	-	-	-2%	-10%	-	-14%	-9%	-9%	-9%

Bad Net Margins (-16.16%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2018	12/2019	12/2020	12/2021	08/2022	12/2022	12/2023	12/2024	TTM
Debt over FCF	-	-	-	-	-	-	-	-	-
Debt over Equity	-	-	-	-	-	-	-	-	-
Growth Stability	-	-	-	-	-	-	-	-	1

Neutral Debt/FCF ratio (-)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Neutral Debt/Equity ratio (-)

The company has a balance between equity and debt that is not too good nor too bad.

Good Graham’s Stability (1)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2018	12/2019	12/2020	12/2021	08/2022	12/2022	12/2023	12/2024	CAGR 5Y
Revenue YoY growth	-	65%	44%	37%	-	-	25%	22%	25%
Earnings YoY growth	-	-79%	74%	583%	-	-	-32%	13%	-
Equity YoY growth	-	-14%	-2K%	15%	-	-	9%	14%	7%
FCF YoY growth	-	26%	216%	-9%	-	-	322%	49%	36%