Stock Analysis · CyberArk Software Ltd (CYBR)
Overview
CyberArk Software Ltd (CYBR) is a cybersecurity company focused on protecting “privileged access.” In simple terms, it helps organizations control, monitor, and secure the most powerful accounts and credentials in their IT environments—accounts that, if misused, can give an attacker broad control over systems. Its products are generally used by large and mid-sized organizations that need stronger protection for administrator access, remote access, application secrets, and increasingly for identity-related security controls.
CyberArk’s business is largely built around software subscriptions and related support/services. Like many enterprise software companies, it aims to grow recurring revenue over time by expanding within existing customers (adding more users, more systems protected, and more modules) and by winning new customers.
Main revenue sources are typically described in company filings as:
- Subscription revenue (recurring fees for access to software, often delivered via cloud services and/or term licenses)
- Maintenance and support (ongoing support tied to customer deployments)
- Professional services (implementation, training, and advisory work; usually smaller and less recurring than subscriptions)
The company’s reported totals show a business that has scaled meaningfully over the past few years, with annual revenue rising from about $503M (2021) to about $1.361B (2025), alongside continued high spending on product development and go-to-market activities.
Across the years shown, total revenue increases substantially, while the company continues to invest heavily in operating expenses (notably research and development and selling/general/administrative costs). Operating income remains negative in the periods shown, which highlights that CyberArk has prioritized growth and investment over near-term profitability.
Key Figures
| Metric | Value | Industry ⓘ |
|---|---|---|
| Date | Feb 16, 2026 | |
| Context | ||
| Sector | Technology | |
| Industry | Software - Infrastructure | |
| Market Cap ⓘ | $20.64B | |
| Beta ⓘ | 0.93 | |
| Fundamental | ||
| P/E Ratio ⓘ | N/A | 25.13 |
| Profit Margin ⓘ | -10.79% | 6.91% |
| Revenue Growth ⓘ | 18.50% | 15.25% |
| Debt to Equity ⓘ | 50.86% | 19.82% |
| PEG ⓘ | 4.74 | |
| Free Cash Flow ⓘ | $259.25M | |
Based on the latest metrics shown, CyberArk has an approximate $20.6B market capitalization and a beta of ~0.93, which indicates volatility broadly similar to the overall market in many periods. The company shows ~18.5% year-over-year revenue growth versus an industry median near ~15.3%. Profitability is currently a key difference versus many peers: the latest profit margin is about -10.8% (industry median about +6.9%). Financial leverage, measured as debt-to-equity ~50.9%, is higher than the industry median (about ~19.8%). At the same time, the latest free cash flow (TTM) is about $259M, showing the business can generate cash even while reporting net losses.
Growth (high)
CyberArk operates in a segment of cybersecurity that is closely tied to long-term trends: more cloud adoption, more remote and hybrid work, more software automation, and more machine-to-machine activity. These trends expand the number of identities, accounts, and credentials that need to be managed and secured—especially the highest-privilege ones. For many organizations, privileged access is a “must-get-right” control because it can limit the damage from breaches and reduce the chance that attackers can move freely inside systems.
The company’s strategy generally centers on expanding from a historically strong position in privileged access management into broader identity security use cases. In practice, that can support growth by increasing the potential number of buyers inside an organization (security, IT operations, cloud teams, developers) and increasing revenue per customer over time as more identity-related risks are addressed under one platform.
The year-over-year revenue growth trend shown is strong across multiple periods, reaching very high levels in 2024–2025 (with several quarters above 40%), before easing to about 18.5% in the latest point shown. Even with that slowdown, the latest growth rate remains above the industry median in the table, which suggests CyberArk has been expanding faster than many infrastructure software peers.
Free cash flow improves meaningfully over time in the chart, rising from about $18M (TTM, 2023) to about $250M (TTM, 2025). This matters for long-term business resilience because cash generation can help fund product development and expansion without relying entirely on external financing.
Risks (medium-high)
This article is for informational purposes only and does not constitute financial advice. Some content is AI-generated. See Disclaimer
