Hashicorp, Inc.

Technology
EDP Services
www.hashicorp.com

Moat Score

Market Cap $6.82B
PE -56
Debt $NaN
Cash $923.63M
EV $NaN
FCF $67.39M

Earnings

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Sales & Net Margins

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Earnings	-$122.22M
EBIT	-$119.74M
ROE	-10%
ROA	-7%
FCF	$67.39M
Equity	$1.26B
Growth Stability	1
PE	-55.79
PB	5.42
P/FCF	101.17
P/S	10.41
Price/Cash	0.14
Net Margins	-18%
Gross Margins	82%
Op. Margins	-18%
Sales Growth YoY	19%
Sales Growth QoQ	5%
Sales CAGR	28%
Equity CAGR	-1%
Earnings Growth YoY	-67%

Earnings Growth QoQ	-51%
Sales CAGR 5Y	28%
Equity CAGR 5Y	-1%
Earnings CAGR 3Y	29%
Sales CAGR 3Y	29%
Equity CAGR 3Y	-1%
Market Cap	$6.82B
Revenue	$654.89M
Assets	$1.69B
Cash	$923.63M
Shares Outstanding	201.84M
Moat Score	5%
Working Capital	1.14B
Current Ratio	3.79
Gross Profit	$537.61M
Shares Growth 3y	6%
Equity Growth QoQ	2%
Equity Growth YoY	6%

Assets & ROA

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Stockholders Equity & ROE

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HashiCorp Inc is engaged in solving the infrastructure challenges of cloud adoption by enabling an operating model that unlocks the full potential of modern public and private clouds. Its cloud operating model provides consistent workflows and a standardized approach to automate the processes involved in delivering applications in the cloud: infrastructure provisioning, security, networking, and application deployment. Its main commercial products are Terraform, Vault, Consul, and Nomad.

SEC Filings

Direct access to Hashicorp, Inc. (HCP) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Oct 31
- 10-Q Jul 31
- 10-Q Apr 30
- 10-K Jan 31
2023
- 10-Q Oct 31
- 10-Q Jul 31
- 10-Q Apr 30
- 10-K Jan 31
2022
- 10-Q Oct 31
- 10-Q Jul 31
- 10-Q Apr 30
- 10-K Jan 31

Sector Comparison

How does Hashicorp, Inc. compare to its competitors?

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Peter Lynch's Chart

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

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Hashicorp, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Hashicorp, Inc..

Years

Calculation mode

= $674M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$67M	$67M	$67M	$67M	$67M	$67M	$67M	$67M	$67M	$67M	$67M	$674M
DCF		$61M	$56M	$51M	$46M	$42M	$38M	$35M	$31M	$29M	$26M	$260M
Value	$674M

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	01/2020	01/2021	01/2022	01/2023	01/2024	TTM
Net Margins	-44%	-39%	-90%	-58%	-33%	-18%
ROA	-	-	-18%	-17%	-11%	-7%
ROE	-	-	-23%	-23%	-16%	-10%

Bad Net Margins (-18.15%)

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	01/2020	01/2021	01/2022	01/2023	01/2024	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	01/2020	01/2021	01/2022	01/2023	01/2024	CAGR 5Y
Revenue YoY growth	-	75%	51%	48%	23%	28%
Earnings YoY growth	-	56%	247%	-5%	-30%	-
Equity YoY growth	-	52%	-1K%	-6%	1%	-1%
FCF YoY growth	-	50%	28%	50%	-86%	-