Is SentinelOne Stock Undervalued?
Cybersecurity major SentinelOne (NYSE:S) has struggled over several years, delivering…
| Period Ending | 2020-12-31 | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 | |
|---|---|---|---|---|---|---|
| Revenue | $2.8B | $2.9B | $2.7B | $2.8B | $3.2B | |
| Revenue Growth (YoY) | 2.36% | 3.64% | -6.46% | 4.94% | 14.44% | |
| Cost of Revenues | $2.3B | $2.3B | $2.1B | $2.2B | $2.5B | |
| Gross Profit | $485M | $538M | $565M | $626M | $714M | |
| Gross Profit Margin | 17.46% | 18.69% | 20.98% | 22.15% | 22.08% | |
| R&D Expenses | -- | -- | -- | -- | -- | |
| Selling, General & Admin | $283M | $293M | $357M | $384M | $414M | |
| Other Inc / (Exp) | -$5M | -$1M | -$2M | -$3M | -$8M | |
| Operating Expenses | $304M | $302M | $312M | $377M | $413M | |
| Operating Income | $181M | $236M | $253M | $249M | $301M | |
| Net Interest Expenses | $64M | $35M | $34M | $36M | $21M | |
| EBT. Incl. Unusual Items | $112M | $200M | $525M | $192M | $264M | |
| Earnings of Discontinued Ops. | -- | -- | -- | -- | -- | |
| Income Tax Expense | $27M | $46M | $120M | $24M | $51M | |
| Net Income to Company | $85M | $154M | $405M | $168M | $213M | |
| Minority Interest in Earnings | -- | -- | -- | -- | -- | |
| Net Income to Common Excl Extra Items | $85M | $154M | $405M | $168M | $213M | |
| Basic EPS (Cont. Ops) | $0.57 | $1.06 | $1.88 | $0.64 | $0.81 | |
| Diluted EPS (Cont. Ops) | $0.57 | $1.06 | $1.88 | $0.64 | $0.80 | |
| Weighted Average Basic Share | $149.8M | $145M | $215M | $261M | $263.7M | |
| Weighted Average Diluted Share | $149.8M | $145M | $215M | $264M | $267.7M | |
| EBITDA | $234M | $294M | $318M | $334M | $392M | |
| EBIT | $181M | $236M | $253M | $249M | $301M | |
| Revenue (Reported) | $2.8B | $2.9B | $2.7B | $2.8B | $3.2B | |
| Operating Income (Reported) | $181M | $236M | $253M | $249M | $301M | |
| Operating Income (Adjusted) | $181M | $236M | $253M | $249M | $301M | |
| Period Ending | 2021-09-30 | 2022-09-30 | 2023-09-30 | 2024-09-30 | 2025-09-30 | |
|---|---|---|---|---|---|---|
| Revenue | $720M | $634M | $703M | $812M | $960M | |
| Revenue Growth (YoY) | 0.14% | -11.94% | 10.88% | 15.51% | 18.23% | |
| Cost of Revenues | $592M | $507M | $546M | $639M | $743M | |
| Gross Profit | $128M | $127M | $157M | $173M | $217M | |
| Gross Profit Margin | 17.78% | 20.03% | 22.33% | 21.31% | 22.6% | |
| R&D Expenses | -- | -- | -- | -- | -- | |
| Selling, General & Admin | $73M | $101M | $96M | $98M | $123M | |
| Other Inc / (Exp) | -$1M | -- | -$1M | -$1M | -- | |
| Operating Expenses | $75M | $85M | $97M | $97M | $124M | |
| Operating Income | $53M | $42M | $60M | $76M | $93M | |
| Net Interest Expenses | $9M | $9M | $10M | $5M | $4M | |
| EBT. Incl. Unusual Items | $43M | $367M | $48M | $69M | $87M | |
| Earnings of Discontinued Ops. | -- | -- | -- | -- | -- | |
| Income Tax Expense | $8M | $88M | $1M | $12M | $15M | |
| Net Income to Company | $35M | $279M | $47M | $57M | $72M | |
| Minority Interest in Earnings | -- | -- | -- | -- | -- | |
| Net Income to Common Excl Extra Items | $35M | $279M | $47M | $57M | $72M | |
| Basic EPS (Cont. Ops) | $0.24 | $1.92 | $0.18 | $0.22 | $0.27 | |
| Diluted EPS (Cont. Ops) | $0.24 | $1.92 | $0.18 | $0.21 | $0.27 | |
| Weighted Average Basic Share | $145M | $145M | $262M | $264M | $266.2M | |
| Weighted Average Diluted Share | $145M | $145M | $265M | $268M | $268.4M | |
| EBITDA | $69M | $59M | $81M | $99M | $116M | |
| EBIT | $53M | $42M | $60M | $76M | $93M | |
| Revenue (Reported) | $720M | $634M | $703M | $812M | $960M | |
| Operating Income (Reported) | $53M | $42M | $60M | $76M | $93M | |
| Operating Income (Adjusted) | $53M | $42M | $60M | $76M | $93M | |
| Period Ending | 2021-09-30 | 2022-09-30 | 2023-09-30 | 2024-09-30 | 2025-09-30 | |
|---|---|---|---|---|---|---|
| Revenue | $2.9B | $2.7B | $2.7B | $3.2B | $3.6B | |
| Revenue Growth (YoY) | -- | -- | -- | -- | -- | |
| Cost of Revenues | -- | $2.2B | $2.1B | $2.5B | $2.8B | |
| Gross Profit | $387M | $535M | $603M | $688M | $814M | |
| Gross Profit Margin | -- | -- | -- | -- | -- | |
| R&D Expenses | -- | -- | -- | -- | -- | |
| Selling, General & Admin | $225M | $329M | $382M | $404M | $469M | |
| Other Inc / (Exp) | -$2M | -- | -$2M | -$4M | -- | |
| Operating Expenses | -- | $314M | $370M | $402M | $469M | |
| Operating Income | -- | $221M | $233M | $286M | $345M | |
| Net Interest Expenses | $42M | $35M | $34M | $26M | $11M | |
| EBT. Incl. Unusual Items | $127M | $520M | $175M | $248M | $323M | |
| Earnings of Discontinued Ops. | -- | -- | -- | -- | -- | |
| Income Tax Expense | $31M | $122M | $16M | $50M | $58M | |
| Net Income to Company | -- | $398M | $159M | $198M | $265M | |
| Minority Interest in Earnings | -- | -- | -- | -- | -- | |
| Net Income to Common Excl Extra Items | $143M | $398M | $159M | $198M | $265M | |
| Basic EPS (Cont. Ops) | $0.97 | $2.74 | $0.64 | $0.75 | $1.00 | |
| Diluted EPS (Cont. Ops) | $0.97 | $2.74 | $0.64 | $0.74 | $0.99 | |
| Weighted Average Basic Share | ||||||
| Weighted Average Diluted Share | ||||||
| EBITDA | -- | $283M | $313M | $376M | $437M | |
| EBIT | $155M | $221M | $233M | $286M | $345M | |
| Revenue (Reported) | $2.9B | $2.7B | $2.7B | $3.2B | $3.6B | |
| Operating Income (Reported) | -- | $221M | $233M | $286M | $345M | |
| Operating Income (Adjusted) | $155M | $221M | $233M | $286M | $345M | |
| Period Ending | 2021-09-30 | 2022-09-30 | 2023-09-30 | 2024-09-30 | 2025-09-30 | |
|---|---|---|---|---|---|---|
| Revenue | $2.1B | $1.9B | $1.9B | $2.3B | $2.6B | |
| Revenue Growth (YoY) | -- | -- | -- | -- | -- | |
| Cost of Revenues | $1.7B | $1.5B | $1.5B | $1.8B | $2B | |
| Gross Profit | $387M | $384M | $422M | $484M | $584M | |
| Gross Profit Margin | -- | -- | -- | -- | -- | |
| R&D Expenses | -- | -- | -- | -- | -- | |
| Selling, General & Admin | $225M | $261M | $286M | $306M | $361M | |
| Other Inc / (Exp) | -$1M | -- | -$2M | -$3M | -$1M | |
| Operating Expenses | $232M | $244M | $292M | $306M | $362M | |
| Operating Income | $155M | $140M | $130M | $178M | $222M | |
| Net Interest Expenses | $27M | $27M | $27M | $17M | $7M | |
| EBT. Incl. Unusual Items | $127M | $447M | $97M | $153M | $212M | |
| Earnings of Discontinued Ops. | -- | -- | -- | -- | -- | |
| Income Tax Expense | $31M | $107M | $3M | $29M | $36M | |
| Net Income to Company | $96M | $340M | $94M | $124M | $176M | |
| Minority Interest in Earnings | -- | -- | -- | -- | -- | |
| Net Income to Common Excl Extra Items | $96M | $340M | $94M | $124M | $176M | |
| Basic EPS (Cont. Ops) | $0.66 | $2.34 | $0.36 | $0.47 | $0.66 | |
| Diluted EPS (Cont. Ops) | $0.66 | $2.34 | $0.36 | $0.46 | $0.66 | |
| Weighted Average Basic Share | $435M | $435M | $783M | $790M | $797.7M | |
| Weighted Average Diluted Share | $435M | $435M | $791M | $801M | $806.2M | |
| EBITDA | $199M | $188M | $193M | $246M | $291M | |
| EBIT | $155M | $140M | $130M | $178M | $222M | |
| Revenue (Reported) | $2.1B | $1.9B | $1.9B | $2.3B | $2.6B | |
| Operating Income (Reported) | $155M | $140M | $130M | $178M | $222M | |
| Operating Income (Adjusted) | $155M | $140M | $130M | $178M | $222M | |
| Period Ending | 2020-12-31 | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 | |
|---|---|---|---|---|---|---|
| Cash and Equivalents | $61M | $240M | $306M | $467M | $598M | |
| Short Term Investments | -- | -- | -- | -- | -- | |
| Accounts Receivable, Net | $774M | $899M | $1B | $1.1B | $1.1B | |
| Inventory | $247M | $205M | $319M | $329M | $358M | |
| Prepaid Expenses | $33M | $23M | $20M | $21M | $27M | |
| Other Current Assets | $33M | $22M | $24M | $42M | $55M | |
| Total Current Assets | $1.3B | $1.4B | $1.7B | $1.9B | $2.2B | |
| Property Plant And Equipment | $443M | $364M | $487M | $484M | $519M | |
| Long-Term Investments | -- | -- | -- | -- | -- | |
| Goodwill | $1.1B | $1.1B | $1.2B | $1.2B | $1.2B | |
| Other Intangibles | $60M | $52M | $172M | $151M | $132M | |
| Other Long-Term Assets | $134M | $137M | $92M | $89M | $91M | |
| Total Assets | $3B | $3.1B | $3.8B | $4B | $4.3B | |
| Accounts Payable | $478M | $479M | $457M | $398M | $426M | |
| Accrued Expenses | $61M | $70M | $63M | $73M | $75M | |
| Current Portion Of Long-Term Debt | $53M | $41M | $29M | $57M | $25M | |
| Current Portion Of Capital Lease Obligations | $22M | $24M | $25M | $23M | $27M | |
| Other Current Liabilities | $69M | $79M | $74M | $35M | $15M | |
| Total Current Liabilities | $975M | $989M | $1B | $1.1B | $1.1B | |
| Long-Term Debt | $455M | $425M | $433M | $417M | $406M | |
| Capital Leases | -- | -- | -- | -- | -- | |
| Total Liabilities | $1.6B | $1.5B | $1.7B | $1.7B | $1.8B | |
| Common Stock | $1M | $1M | $3M | $3M | $3M | |
| Other Common Equity Adj | -$70M | -$58M | -$49M | -$47M | -$47M | |
| Common Equity | $1.4B | $1.6B | $2.1B | $2.3B | $2.6B | |
| Total Preferred Equity | -- | -- | -- | -- | -- | |
| Minority Interest, Total | -- | -- | -- | -- | -- | |
| Total Equity | $1.4B | $1.6B | $2.1B | $2.3B | $2.6B | |
| Total Liabilities and Equity | $3B | $3.1B | $3.8B | $4B | $4.3B | |
| Cash and Short Terms | $61M | $240M | $306M | $467M | $598M | |
| Total Debt | $455M | $425M | $452M | $439M | $427M | |
| Period Ending | 2021-09-30 | 2022-09-30 | 2023-09-30 | 2024-09-30 | 2025-09-30 | |
|---|---|---|---|---|---|---|
| Cash and Equivalents | $78M | $63M | $47M | $198M | $309M | |
| Short Term Investments | -- | -- | -- | -- | -- | |
| Accounts Receivable, Net | $884M | $1.1B | $1.3B | $1.2B | $1.4B | |
| Inventory | $215M | $246M | $383M | $363M | $404M | |
| Prepaid Expenses | $30M | -- | $17M | $29M | $32M | |
| Other Current Assets | $18M | $39M | $32M | $36M | -- | |
| Total Current Assets | $1.2B | $1.4B | $1.7B | $1.9B | $2.2B | |
| Property Plant And Equipment | $356M | $362M | $399M | $415M | $477M | |
| Long-Term Investments | -- | -- | -- | -- | $21M | |
| Goodwill | $1.1B | $952M | $1.2B | $1.2B | -- | |
| Other Intangibles | $54M | $45M | $156M | $138M | -- | |
| Other Long-Term Assets | $126M | $92M | $95M | $86M | -- | |
| Total Assets | $2.9B | $3B | $3.7B | $3.9B | $4.2B | |
| Accounts Payable | $285M | $285M | $328M | $292M | $342M | |
| Accrued Expenses | $66M | $63M | $64M | $70M | -- | |
| Current Portion Of Long-Term Debt | $124M | $67M | $132M | $22M | -- | |
| Current Portion Of Capital Lease Obligations | $23M | $25M | $23M | $27M | -- | |
| Other Current Liabilities | $71M | $67M | $40M | $40M | -- | |
| Total Current Liabilities | $832M | $912M | $951M | $880M | $1.1B | |
| Long-Term Debt | $441M | $411M | $423M | $411M | $419M | |
| Capital Leases | -- | -- | -- | -- | -- | |
| Total Liabilities | $1.4B | $1.4B | $1.5B | $1.4B | $1.6B | |
| Common Stock | $1M | $1M | $3M | $3M | $3M | |
| Other Common Equity Adj | -$63M | -$57M | -$47M | -$47M | -- | |
| Common Equity | -- | -- | -- | -- | -- | |
| Total Preferred Equity | -- | -- | -- | -- | -- | |
| Minority Interest, Total | -- | -- | -- | -- | -- | |
| Total Equity | $1.5B | $1.5B | $2.2B | $2.5B | $2.6B | |
| Total Liabilities and Equity | $2.9B | $3B | $3.7B | $3.9B | $4.2B | |
| Cash and Short Terms | $78M | $63M | $47M | $198M | $309M | |
| Total Debt | $441M | $411M | $423M | $411M | $419M | |
| Period Ending | 2020-12-31 | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 | |
|---|---|---|---|---|---|---|
| Net Income to Stockholders | $85M | $154M | $405M | $168M | $213M | |
| Depreciation & Amoritzation | $53M | $58M | $65M | $85M | $91M | |
| Stock-Based Compensation | -- | -- | $5M | $17M | $22M | |
| Change in Accounts Receivable | -$35M | -$54M | -$1M | $15M | -$102M | |
| Change in Inventories | -$38M | $42M | -$33M | -$10M | -$29M | |
| Cash From Operations | $125M | $178M | $36M | $205M | $271M | |
| Capital Expenditures | $56M | $60M | $65M | $60M | $85M | |
| Cash Acquisitions | -- | $14M | -$19M | -- | -- | |
| Cash From Investing | -$70M | $39M | $436M | -$59M | -$84M | |
| Dividends Paid (Ex Special Dividend) | -- | -- | $396M | -- | -- | |
| Special Dividend Paid | ||||||
| Long-Term Debt Issued | $1.1B | $930M | $998M | $715M | $280M | |
| Long-Term Debt Repaid | -$1.2B | -$950M | -$992M | -$727M | -$291M | |
| Repurchase of Common Stock | -- | -- | -- | -- | -- | |
| Other Financing Activities | -$4M | -- | -$5M | -$4M | -$10M | |
| Cash From Financing | -$80M | -$38M | -$406M | $15M | -$56M | |
| Beginning Cash (CF) | $61M | $240M | $306M | $467M | $598M | |
| Foreign Exchange Rate Adjustment | -- | -- | -- | -- | -- | |
| Additions / Reductions | -$24M | $179M | $66M | $161M | $131M | |
| Ending Cash (CF) | $38M | $419M | $372M | $628M | $729M | |
| Levered Free Cash Flow | $69M | $118M | -$29M | $145M | $186M | |
| Period Ending | 2021-09-30 | 2022-09-30 | 2023-09-30 | 2024-09-30 | 2025-09-30 | |
|---|---|---|---|---|---|---|
| Net Income to Stockholders | $35M | $279M | $47M | $57M | $72M | |
| Depreciation & Amoritzation | $16M | $17M | $21M | $23M | $23M | |
| Stock-Based Compensation | -- | -- | $4M | $5M | $5M | |
| Change in Accounts Receivable | $9M | -$41M | -$2M | -$49M | -$62M | |
| Change in Inventories | $42M | $4M | -$5M | $4M | -$4M | |
| Cash From Operations | $74M | -$4M | $36M | $59M | $107M | |
| Capital Expenditures | $13M | $13M | $15M | $12M | $30M | |
| Cash Acquisitions | $14M | -- | -- | -- | -- | |
| Cash From Investing | -$26M | $470M | -$16M | -$11M | -$45M | |
| Dividends Paid (Ex Special Dividend) | -- | $396M | -- | -- | $24M | |
| Special Dividend Paid | -- | -- | -- | -- | -- | |
| Long-Term Debt Issued | $175M | $230M | $160M | $95M | -- | |
| Long-Term Debt Repaid | -$238M | -$317M | -$170M | -$97M | -- | |
| Repurchase of Common Stock | -- | -- | -- | -- | $10M | |
| Other Financing Activities | $1M | -$6M | -- | $1M | -- | |
| Cash From Financing | -$62M | -$472M | -$8M | $1M | -$31M | |
| Beginning Cash (CF) | $78M | $63M | $47M | $198M | $309M | |
| Foreign Exchange Rate Adjustment | $1M | -- | -- | -- | -- | |
| Additions / Reductions | -$12M | -$6M | $12M | $49M | $31M | |
| Ending Cash (CF) | $67M | $57M | $59M | $247M | $340M | |
| Levered Free Cash Flow | $61M | -$17M | $21M | $47M | $77M | |
| Period Ending | 2021-09-30 | 2022-09-30 | 2023-09-30 | 2024-09-30 | 2025-09-30 | |
|---|---|---|---|---|---|---|
| Net Income to Stockholders | -- | $398M | $159M | $198M | $265M | |
| Depreciation & Amoritzation | -- | $62M | $80M | $90M | $92M | |
| Stock-Based Compensation | -- | -- | $12M | $21M | $25M | |
| Change in Accounts Receivable | -- | -$77M | -$18M | -$37M | -$90M | |
| Change in Inventories | -- | -$33M | -$54M | $20M | -$41M | |
| Cash From Operations | -- | $43M | -$28M | $343M | $384M | |
| Capital Expenditures | $42M | $53M | $72M | $74M | $119M | |
| Cash Acquisitions | -- | -- | -- | -- | -- | |
| Cash From Investing | -- | $429M | -$54M | -$72M | -$134M | |
| Dividends Paid (Ex Special Dividend) | -- | $396M | -- | -- | $72M | |
| Special Dividend Paid | ||||||
| Long-Term Debt Issued | $981M | $805M | $878M | $390M | -- | |
| Long-Term Debt Repaid | -$1.2B | -$873M | -$805M | -$535M | -- | |
| Repurchase of Common Stock | -- | -- | -- | -- | $24M | |
| Other Financing Activities | -$5M | -- | -$3M | -$8M | -- | |
| Cash From Financing | -- | -$487M | $66M | -$120M | -$139M | |
| Beginning Cash (CF) | -- | -- | -- | -- | -- | |
| Foreign Exchange Rate Adjustment | -- | -- | -- | -- | -- | |
| Additions / Reductions | -- | -$15M | -$16M | $151M | $111M | |
| Ending Cash (CF) | -- | -- | -- | -- | -- | |
| Levered Free Cash Flow | -- | -$10M | -$100M | $269M | $265M | |
| Period Ending | 2021-09-30 | 2022-09-30 | 2023-09-30 | 2024-09-30 | 2025-09-30 | |
|---|---|---|---|---|---|---|
| Net Income to Stockholders | $96M | $340M | $94M | $124M | $176M | |
| Depreciation & Amoritzation | $44M | $48M | $63M | $68M | $69M | |
| Stock-Based Compensation | -- | -- | $12M | $16M | $19M | |
| Change in Accounts Receivable | $6M | -$17M | -$34M | -$86M | -$74M | |
| Change in Inventories | $32M | -$43M | -$64M | -$34M | -$46M | |
| Cash From Operations | -$111M | -$246M | -$310M | -$172M | -$59M | |
| Capital Expenditures | $42M | $35M | $42M | $56M | $90M | |
| Cash Acquisitions | $14M | -- | -- | -- | -- | |
| Cash From Investing | $58M | $448M | -$42M | -$55M | -$105M | |
| Dividends Paid (Ex Special Dividend) | -- | $396M | -- | -- | $72M | |
| Special Dividend Paid | -- | -- | -- | -- | -- | |
| Long-Term Debt Issued | $800M | $675M | $555M | $230M | -- | |
| Long-Term Debt Repaid | -$729M | -$652M | -$465M | -$273M | -$9M | |
| Repurchase of Common Stock | -- | -- | -- | -- | $24M | |
| Other Financing Activities | -$1M | -$6M | -$4M | -$8M | -$26M | |
| Cash From Financing | $70M | -$379M | $93M | -$42M | -$125M | |
| Beginning Cash (CF) | $199M | $245M | $256M | $507M | $967M | |
| Foreign Exchange Rate Adjustment | -- | -- | -- | -- | -- | |
| Additions / Reductions | $17M | -$177M | -$259M | -$269M | -$289M | |
| Ending Cash (CF) | $216M | $68M | -$3M | $238M | $678M | |
| Levered Free Cash Flow | -$153M | -$281M | -$352M | -$228M | -$149M | |
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