Tearsheet

CommVault Systems (CVLT)

Market Price (12/4/2025): $123.9 | Market Cap: $5.5 Bil
Sector: Information Technology | Industry: Systems Software

CommVault Systems (CVLT)

Market Price (12/4/2025): $123.9
Market Cap: $5.5 Bil
Sector: Information Technology
Industry: Systems Software

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 22%	Expensive valuation multiples P/EBITPrice/EBIT or Price/(Operating Income) ratio is 97x, P/EPrice/Earnings or Price/(Net Income) is 104x
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 20%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 19%	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.2%
2	Low stock price volatility Vol 12M is 49%
3	Megatrend and thematic drivers Megatrends include Cybersecurity, and Cloud Computing. Themes include Software Security, Software as a Service (SaaS), Show more.

0	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 22%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 20%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 19%
2	Low stock price volatility Vol 12M is 49%
3	Megatrend and thematic drivers Megatrends include Cybersecurity, and Cloud Computing. Themes include Software Security, Software as a Service (SaaS), Show more.
4	Expensive valuation multiples P/EBITPrice/EBIT or Price/(Operating Income) ratio is 97x, P/EPrice/Earnings or Price/(Net Income) is 104x
5	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.2%

Valuation, Metrics & Events

	12/4/25	2024	2023	2022
Share Price CYE	$123.90	$150.91	$79.85	$62.84
Market Cap CYE ($ Bil)	5.5	6.6	3.5	2.8
Total Debt ($ Bil)	0.9	0.0	0.0	0.0
Total Cash ($ Bil)	1.1	0.3	0.3	0.3
Enterprise Value ($ Bil)	5.3	6.6	3.5	2.8
Valuation Ratios
P/S TTM	7.7	6.7	4.2	3.6
P/EBIT TTM	96.5	81.2	41.7	-188.5
P/E TTM	104.4	87.0	20.8	-78.5
Sector Ratios
P/S TTM (Sector)	0.0	0.0	0.0	0.0
P/EBIT TTM (Sector)	0.0	0.0	0.0	0.0
P/E TTM (Sector)	0.0	0.0	0.0	0.0

	12/4/25	2024
Share Price CYE	$123.90	$150.91
Market Cap CYE ($ Bil)	5.5	6.6
Total Debt ($ Bil)	0.9	0.0
Total Cash ($ Bil)	1.1	0.3
Enterprise Value ($ Bil)	5.3	6.6
Valuation Ratios
P/S TTM	7.7	6.7
P/EBIT TTM	96.5	81.2
P/E TTM	104.4	87.0
Sector Ratios
P/S TTM (Sector)	0.0	0.0
P/EBIT TTM (Sector)	0.0	0.0
P/E TTM (Sector)	0.0	0.0

	CVLT	S&P 500
REVENUE GROWTH	VERY GOOD
Rev LTM ($ Bil)	1.1
Rev Chg Q	18.4%	7.1%
Rev Chg LTM	22.0%	6.1%
Rev Chg 3Y Avg	11.7%	5.5%
PROFITABILITY	POOR
Op Inc LTM ($ Bil)	0.1
CFO LTM ($ Bil)	0.2
Net Inc LTM ($ Bil)	0.1
Op Mgn LTM	7.8%	18.8%
CFO/Rev LTM	19.7%	20.5%
Net Inc Mgn	7.3%	13.1%
VALUATION	VERY HIGH
P/S	7.6	3.2
P/CFO	38.9	15.8
P/FCF	40.0	20.5
P/E	104.4	23.5
STABILITY	VERY GOOD
Debt/Equity	0.11	0.20
Cash/Assets	0.55	0.07

AI Generated Analysis | Feedback

Metric	Value	Date	Source
Total Annual Recurring Revenue (ARR)	1043000000	9302025	Link
Subscription ARR	894000000	9302025	Link
SaaS ARR	336000000	9302025	Link
Subscription Customers	13400	9302025	Link
SaaS Customers	9000	9302025	Link
SaaS Net Dollar Retention Rate	1.25	9302025	Link
Subscription ARR as a percentage of Total ARR	0.86	9302025	Link

Upcoming
1/27/2026	Earnings Release	Rev: $299 Mil (E) EPS: $0.98 (E)

CVLT Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

AI Generated Analysis | Feedback

From approximately August 31, 2025, to December 4, 2025, CommVault Systems (CVLT) experienced a stock movement of -33.6% due to several key factors: 1. Q2 Fiscal Year 2026 Earnings Miss and Profit Margin Concerns

On October 28, 2025, CommVault Systems reported its Q2 Fiscal Year 2026 earnings, with an earnings per share (EPS) of $0.91, which missed analysts' consensus estimates of $0.95. Despite a revenue beat, this profit miss led to a notable 17% drop in the stock and fueled investor concerns about competitive pressures and shrinking profit margins. 2. Convertible Senior Notes Offering

On September 2, 2025, CommVault Systems announced its intention to offer $750 million in Convertible Senior Notes due 2030. This announcement led to a 5.5% decline in the stock, as investors became concerned about potential future share dilution from the convertibility of these notes into common stock.

Stock Movement Drivers

Fundamental Drivers

The -30.8% change in CVLT stock from 9/3/2025 to 12/3/2025 was primarily driven by a -29.9% change in the company's P/E Multiple.

	9032025	12032025	Change
Stock Price ($)	179.06	123.95	-30.78%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	1052.92	1095.84	4.08%
Net Income Margin (%)	7.70%	7.32%	-4.91%
P/E Multiple	97.90	68.60	-29.93%
Shares Outstanding (Mil)	44.33	44.41	-0.18%
Cumulative Contribution			-30.78%

LTM = Last Twelve Months as of date shown

Market Drivers

9/3/2025 to 12/3/2025

	Return	Correlation
CVLT	-30.8%
Market (SPY)	6.2%	37.2%
Sector (XLK)	11.0%	29.4%

Fundamental Drivers

The -32.0% change in CVLT stock from 6/4/2025 to 12/3/2025 was primarily driven by a -35.0% change in the company's P/E Multiple.

	6042025	12032025	Change
Stock Price ($)	182.15	123.95	-31.95%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	995.62	1095.84	10.07%
Net Income Margin (%)	7.64%	7.32%	-4.21%
P/E Multiple	105.46	68.60	-34.96%
Shares Outstanding (Mil)	44.06	44.41	-0.78%
Cumulative Contribution			-31.96%

LTM = Last Twelve Months as of date shown

Market Drivers

6/4/2025 to 12/3/2025

	Return	Correlation
CVLT	-32.0%
Market (SPY)	15.1%	31.8%
Sector (XLK)	22.7%	29.5%

Fundamental Drivers

The -27.3% change in CVLT stock from 12/3/2024 to 12/3/2025 was primarily driven by a -62.9% change in the company's Net Income Margin (%).

	12032024	12032025	Change
Stock Price ($)	170.39	123.95	-27.26%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	898.05	1095.84	22.02%
Net Income Margin (%)	19.75%	7.32%	-62.92%
P/E Multiple	42.05	68.60	63.12%
Shares Outstanding (Mil)	43.77	44.41	-1.45%
Cumulative Contribution			-27.27%

LTM = Last Twelve Months as of date shown

Market Drivers

12/3/2024 to 12/3/2025

	Return	Correlation
CVLT	-27.3%
Market (SPY)	14.3%	57.2%
Sector (XLK)	23.1%	56.3%

Fundamental Drivers

The 85.2% change in CVLT stock from 12/4/2022 to 12/3/2025 was primarily driven by a 123.5% change in the company's Net Income Margin (%).

	12042022	12032025	Change
Stock Price ($)	66.92	123.95	85.22%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	794.37	1095.84	37.95%
Net Income Margin (%)	3.28%	7.32%	123.50%
P/E Multiple	115.09	68.60	-40.40%
Shares Outstanding (Mil)	44.76	44.41	0.79%
Cumulative Contribution			85.21%

LTM = Last Twelve Months as of date shown

Market Drivers

12/4/2023 to 12/3/2025

	Return	Correlation
CVLT	62.8%
Market (SPY)	53.2%	48.7%
Sector (XLK)	60.2%	46.3%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
CVLT Return	24%	24%	-9%	27%	89%	-18%	177%
Peers Return	38%	35%	-25%	37%	9%	35%	182%
S&P 500 Return	16%	27%	-19%	24%	23%	16%	112%
Monthly Win Rates [3]
CVLT Win Rate	42%	75%	42%	50%	83%	60%
Peers Win Rate	50%	44%	31%	52%	44%	65%
S&P 500 Win Rate	58%	75%	42%	67%	75%	70%
Max Drawdowns [4]
CVLT Max Drawdown	-38%	-1%	-26%	-14%	-7%	-22%
Peers Max Drawdown	-22%	-8%	-33%	-3%	-7%	-25%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: STX, TYL, SPSC, CHOW, ECST. See CVLT Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/3/2025 (YTD)

How Low Can It Go

Unique Key	Event	CVLT	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-39.1%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	64.2%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	502 days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-46.0%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	85.2%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	267 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-42.5%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	73.9%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	648 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-65.3%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	188.0%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	393 days	1480 days

Compare to STX, TYL, SPSC, CHOW, ECST

In The Past

CommVault Systems's stock fell -39.1% during the 2022 Inflation Shock from a high on 9/3/2021. A -39.1% loss requires a 64.2% gain to breakeven.

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About CommVault Systems (CVLT)

Commvault Systems, Inc. provides data protection and information management software applications and related services in the United States and internationally. The company offers Commvault Backup and Recovery, a backup and recovery solution; Commvault Disaster Recovery, an easy-to-use replication and disaster recovery solution; and Commvault Complete Data Protection, an easy-to-use data protection solution. It also provides Commvault Activate, a data insight solution; Commvault HyperScale X, an easy-to-deploy scale-out solution; Hedvig Distributed Storage Platform that offers software-defined storage built on a hyperscale architecture; Metallic Cloud Storage is the easy button to adopt secure and scalable cloud storage; and Metallic Backup-as-a-Service. In addition, the company provides technology and business consulting, education, and remote managed services. Further, it sells appliances that integrate the software with hardware for use in a range of business needs and use cases; and offers professional and customer support services. The company sells its products and services directly through its sales force to large enterprises, small and medium sized businesses, and government agencies, as well as indirectly through its network of distributors, value-added resellers, systems integrators, corporate resellers, and original equipment manufacturers. It supports customers in a range of industries, including banking, insurance and financial services, government, healthcare, pharmaceuticals and medical services, technology, legal, manufacturing, utilities, and energy. It has strategic relationships with Microsoft, Cisco, Dell EMC, Amazon Web Services, NetApp, Nutanix, Fujitsu, Google Cloud, Hitachi, Hewlett Packard Enterprise, IBM, Lenovo, OpenStack, Oracle, Pure Storage, Red Hat, Salesforce, SAP, ServiceNow, Splunk, Supermicro, VMware, and Meridian Group International. Commvault Systems, Inc. was founded in 1988 and is headquartered in Tinton Falls, New Jersey.

AI Generated Analysis | Feedback

1. The Microsoft Azure or AWS for enterprise data backup, recovery, and cyber resilience.

2. Like a specialized version of SAP or Oracle that manages and protects all of a company's data for backup, recovery, and cyber resilience.

AI Generated Analysis | Feedback

Commvault Complete Data Protection: A comprehensive software suite offering backup, recovery, replication, and archiving for enterprise data across various environments.
Metallic SaaS: A portfolio of software-as-a-service (SaaS) offerings providing cloud-native data protection, backup, and recovery capabilities.
Commvault Disaster Recovery: Solutions designed to ensure business continuity and rapid recovery of critical applications and data in the event of outages or disasters.
Commvault Data Governance and Compliance: Services and tools to help organizations meet regulatory requirements, manage data lifecycles, and facilitate eDiscovery.
Commvault ThreatWise: An early warning system that uses deception technology to detect and neutralize cyber threats before they cause damage.

AI Generated Analysis | Feedback

CommVault Systems (symbol: CVLT) sells primarily to other companies and organizations, not directly to individuals. CommVault is an enterprise software company specializing in data protection, backup, recovery, and data management solutions. While they have thousands of customers worldwide, public companies like CommVault typically do not disclose the names of their specific major end-user customers due to confidentiality agreements and the diverse nature of their customer base across various industries and geographies. There is no single customer that accounts for 10% or more of their revenue, which would require disclosure in their SEC filings. However, CommVault serves a broad range of enterprise and mid-market organizations across various sectors. Their customer base includes: * **Large Enterprises:** Multinational corporations across industries that require robust data management and protection solutions for complex IT environments. * **Mid-Market Businesses:** Companies of various sizes that need scalable and efficient solutions to manage their growing data volumes and ensure business continuity. * **Public Sector Organizations:** Government agencies (federal, state, and local), educational institutions, and healthcare providers that have stringent regulatory compliance and data security requirements. * **Financial Services Firms:** Banks, investment firms, and insurance companies that need secure, compliant, and highly available data solutions to protect sensitive customer information and transactions. * **Service Providers:** Managed Service Providers (MSPs) and cloud service providers who leverage CommVault's technology to offer data protection and recovery services to their own clients. Because specific customer names are not publicly disclosed, it is not possible to list individual customer companies or their stock symbols.

AI Generated Analysis | Feedback

Microsoft Corporation (MSFT)
Amazon.com, Inc. (AMZN)
Alphabet Inc. (GOOGL)

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Sanjay Mirchandani, President and Chief Executive Officer

Sanjay Mirchandani has served as President and Chief Executive Officer of CommVault Systems since February 2019. Prior to joining CommVault, he was the CEO of Puppet, an IT automation company, for over two years. Before his tenure at Puppet, Mr. Mirchandani spent two decades in senior leadership roles at prominent technology companies including Microsoft, VMware, and EMC Corp. Under his leadership, CommVault has innovated its portfolio, introduced a new SaaS offering, and completed significant acquisitions. He also serves on the Board of Directors at Itron, Inc.

Jennifer DiRico, Chief Financial Officer

Jennifer DiRico was appointed as CommVault's Chief Financial Officer, effective August 12, 2024. She brings nearly a decade of experience from Toast, Inc., where she played a pivotal role in the company's successful IPO. During her time at Toast, Ms. DiRico was instrumental in scaling the company's growth, expanding its customer base to over 100,000 and increasing its annual recurring revenue (ARR) to over $1 billion.

Gary Merrill, Chief Commercial Officer

Gary Merrill transitioned from his role as Chief Financial Officer to become CommVault's first Chief Commercial Officer (CCO), effective August 12, 2024. An 18-year veteran at CommVault, Mr. Merrill will now lead the company's global sales and partner teams. In his CCO role, he is responsible for accelerating the adoption of the CommVault Cloud platform, expanding market reach, and scaling the company's high-growth SaaS business.

Anna Griffin, Chief Marketing Officer

Anna Griffin has served as the Chief Marketing Officer of CommVault Systems, Inc. since 2023. She brings over 25 years of experience as an agency, brand, and global marketer leader to her role.

AI Generated Analysis | Feedback

The emergence of modern data protection and management platforms, exemplified by companies like Rubrik and Cohesity, poses a clear emerging threat. These platforms offer simplified, hyperconverged, and often cloud-native or cloud-like solutions for data backup, recovery, and ransomware protection. Their integrated approach and emphasis on ease of use, scalability, and rapid recovery challenge traditional enterprise data management solutions that are perceived as more complex or legacy. This trend represents a shift in customer preference towards more agile and consolidated data protection architectures.

AI Generated Analysis | Feedback

CommVault Systems (CVLT) operates in several key addressable markets related to data management, protection, and cyber resilience. The approximate global market sizes for their main products and services are as follows:

Data Protection: The global data protection market size was valued at USD 150.38 billion in 2024 and is projected to reach USD 505.98 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 16.6% during the forecast period. Another source estimates the global data protection market at USD 165.13 billion in 2024, expected to reach nearly USD 575.50 billion by 2032 with a CAGR of 16.89% from 2025. North America held the largest share of this market in 2024.
Enterprise Data Management: The global enterprise data management market size was valued at USD 85.5 billion in 2024 and is expected to reach USD 200.6 billion by 2033, with a CAGR of 9.45% from 2025-2033. Other estimates place the global market size at USD 101.04 billion in 2024, projected to grow to USD 243.48 billion by 2032 with a CAGR of 11.8%, or USD 110.53 billion in 2024, anticipated to reach USD 221.58 billion by 2030, growing at a CAGR of 12.4% from 2025 to 2030. North America is identified as the largest market for enterprise data management.
Cyber Resilience (which includes Data Protection and Disaster Recovery): The global cyber resilience market is projected to grow significantly. One report values the market at USD 14.3 billion in 2025, expected to reach USD 38.5 billion by 2033, with a CAGR of 21.30%. Another source indicates the broader global cybersecurity market, which cyber resilience falls under, was USD 225.58 billion in 2025 and is forecasted to grow to USD 498.07 billion by 2034 with a CAGR of 9.37%. Yet another estimate for the global cybersecurity market is USD 239.04 billion in 2024, anticipated to reach USD 262.23 billion in 2025, and projected to expand to USD 549.96 billion by 2033, growing at a CAGR of 9.7% from 2025 to 2033. North America is consistently noted as a dominant region in the cybersecurity market.
Metallic (SaaS Backup Software): The global SaaS Backup Software market was valued at US$ 2.492 billion in 2023 and is anticipated to reach US$ 4.821 billion by 2030, witnessing a CAGR of 9.7% during the forecast period 2024-2030. Another report states the global market size was estimated at US$ 2.762 billion in 2024 and is forecast to reach approximately US$ 5.234 billion by 2031 with a CAGR of 9.7% during 2025-2031. North America accounts for the largest share of the SaaS backup software market. The broader cloud backup market, which includes SaaS backup, has an estimated size of $7.13 billion USD in 2025, projected to grow to $21.62 billion by 2030 with a CAGR of 24.9%.

AI Generated Analysis | Feedback

CommVault Systems (NASDAQ: CVLT) is positioned for future revenue growth over the next 2-3 years, driven by several key strategic initiatives and market trends. These include the continued expansion of its Software-as-a-Service (SaaS) platform, a heightened demand for cyber resilience and multi-cloud data protection solutions, strategic alliances and acquisitions, and sustained customer acquisition and expansion.

1. Continued Growth of the SaaS Platform

CommVault's SaaS platform is a significant driver of its revenue growth. The company has reported "hyper-growth" in its SaaS Annual Recurring Revenue (ARR), with SaaS ARR soaring by 63% to $307 million in Q1 FY2026. This accelerated growth has enabled CommVault to surpass 8,000 customers for its SaaS offerings in Q1 FY2026. The strong performance in the SaaS segment is expected to continue as more customers transition to cloud-based data protection solutions, benefiting from successful upsell and cross-sell initiatives.

2. Increasing Demand for Cyber Resilience and Multi-Cloud Data Protection

The escalating threat of cyberattacks and the widespread adoption of multi-cloud environments are fueling a robust demand for CommVault's cyber resilience and data protection solutions. Management has consistently highlighted the increasing demand for its Cyber Resilience platform, particularly among hybrid cloud customers. CommVault's unified platform, which enables customers to anticipate, prepare for, and recover from cyberattacks, is considered more critical than ever, thereby driving strong transaction volumes and growth.

3. Strategic Alliances and Acquisitions

CommVault is actively pursuing strategic alliances and acquisitions to enhance its offerings and market reach. The company has formed major strategic alliances with partners such as Deloitte, CrowdStrike, HPE, and Kyndryl to strengthen its cyber resilience and disaster recovery capabilities. Additionally, CommVault's intent to acquire Satori Cyber is aimed at enhancing its AI and data security capabilities, which is expected to further strengthen its competitive edge and drive future revenue.

4. Customer Acquisition and Expansion in Emerging Markets

CommVault continues to demonstrate strong success in acquiring new customers and expanding its footprint, including in emerging markets. In Q1 FY2026, the company secured notable new customers such as Honeywell, Equifax, U-Haul, NTT DATA Services, and Chaucer Lloyd's. The company has also shown robust success in emerging markets through cloud marketplaces, experiencing triple-digit growth transactions. This consistent customer growth, coupled with the ability to expand within its existing customer base (land-and-expand strategy), contributes significantly to its recurring revenue streams.

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Share Repurchases

CommVault Systems' annual net total equity repurchases were $147 million in fiscal year 2025, $171 million in fiscal year 2024, and $136 million in fiscal year 2023.
During the second quarter of fiscal year 2026, Commvault repurchased approximately 737,000 shares of common stock for $131 million.
In September 2025, Commvault announced a concurrent $125 million share repurchase program as part of its capital allocation strategy related to a new convertible notes offering.

Share Issuance

In September 2025, Commvault announced its intention to offer $750.0 million aggregate principal amount of Convertible Senior Notes due 2030.
The proceeds from this offering are planned to fund capped call transactions to minimize potential share dilution, repurchase up to $125.0 million of common stock, and cover general corporate purposes, including potential acquisitions.

Outbound Investments

Commvault announced the acquisition of Satori Cyber, a company specializing in data and AI security, with the transaction expected to close by August 2025.

Capital Expenditures

Commvault continues to invest in its international business operations and has made substantial investments in the automation of its product test and quality assurance laboratories.
Cash flow analysis suggests that capital expenditures are a consistent element, with the company generating positive cash flow after accounting for CAPEX.

Better Bets than CommVault Systems (CVLT)

	CVLT	Better Performance than CVLT
Metric	Value	INDUSTRY: Systems Software
Rev Chg LTM	22.0%	AFRM (37.0%), IOT (30.3%), NET (28.1%), CRWD (23.5%), ZS (23.3%)
Rev Chg 3Y Avg	11.7%	CRWD (33.5%), NET (31.1%), NOW (22.3%), PANW (18.9%), MSFT (13.2%)
Op Mgn LTM	7.8%	MSFT (46.3%), FTNT (31.0%), AFRM (15.6%), NOW (13.9%), PANW (13.5%)
CFO/Rev LTM	19.7%	MSFT (50.0%), PANW (40.3%), NOW (38.2%), CRWD (32.0%), NET (26.8%)
FCF/Rev LTM	19.1%	PANW (37.6%), FTNT (30.9%), NOW (30.8%), MSFT (26.6%), CRWD (23.9%)
Total Yield	1.0%	DOX (7.7%), GEN (5.0%), MSFT (3.4%), FTNT (2.9%), TOST (1.3%)
P/S	7.6	DOX (2.2), TWLO (3.1), TOST (3.6), GEN (3.9), AFRM (7.4)
P/Op Inc	97.6	GEN (10.3), MSFT (28.3), FTNT (31.2), AFRM (47.1), TOST (86.5)

	CVLT	Better Performance than CVLT
Metric	Value	SECTOR: Information Technology
Rev Chg LTM	22.0%	NVDA (71.6%), MU (48.9%), PLTR (47.2%), AMD (31.8%), AVGO (28.0%)
Rev Chg 3Y Avg	11.7%	NVDA (92.0%), PLTR (29.3%), AVGO (24.0%), MSFT (13.2%), AMD (12.9%)
Op Mgn LTM	7.8%	NVDA (58.1%), MSFT (46.3%), AVGO (39.0%), AAPL (31.9%), ORCL (31.6%)
CFO/Rev LTM	19.7%	MSFT (50.0%), NVDA (46.6%), AVGO (42.4%), ORCL (36.5%), AAPL (26.6%)
FCF/Rev LTM	19.1%	PLTR (46.0%), NVDA (43.6%), AVGO (41.6%), MSFT (26.6%), AAPL (23.5%)
Total Yield	1.0%	MSFT (3.4%), AAPL (3.0%), ORCL (2.8%), NVDA (2.3%), AVGO (1.5%)
P/S	7.6	IBM (4.0), CSCO (4.9), MU (5.0), AMAT (5.1), CRM (6.6)
P/Op Inc	97.6	MSFT (28.3), AAPL (29.1), ORCL (33.1), NVDA (40.1), AVGO (55.6)

	CVLT	Better Performance than CVLT
Metric	Value	ALL OTHER SECTORS
Rev Chg LTM	22.0%	LLY (36.8%), WELL (32.6%), COF (25.4%), SCHW (22.3%), ISRG (22.2%)
Rev Chg 3Y Avg	11.7%	LLY (23.4%), BRK-B (19.8%), META (17.3%), JPM (13.4%), MA (13.2%)
Op Mgn LTM	7.8%	META (43.2%), LLY (43.0%), GOOGL (32.2%), XOM (11.4%), AMZN (11.4%)
CFO/Rev LTM	19.7%	META (56.8%), MA (56.1%), GOOGL (39.3%), JNJ (26.3%), LLY (20.5%)
FCF/Rev LTM	19.1%	V (53.9%), MA (52.5%), META (23.7%), NFLX (20.7%), JNJ (20.3%)
Total Yield	1.0%	BRK-B (6.2%), GOOGL (4.6%), META (3.5%), AMZN (3.0%), LLY (2.7%)
P/S	7.6	WMT (1.1), BRK-B (2.7), AMZN (3.5), JPM (4.9), GOOGL (7.6)
P/Op Inc	97.6	META (22.6), GOOGL (23.7), WMT (26.9), LLY (29.9), AMZN (30.7)

		Best Bets In Information Technology Sector
	CVLT
What You Pay
P/E	104.5
P/EBIT	96.5
What You Get
Rev Chg Q	18.4%
Rev Chg LTM	22.0%
Rev Chg 3Y Avg	11.7%
FCF/Rev 3Y Avg	21.8%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 24%, alpha of 2.9%, and sharpe of 1.04

Latest Trefis Analyses

	Title	Topic	Date
0	DASHBOARDS
1	Is 27.6% Fall In CommVault Systems (CVLT) Stock A Buying Opportunity?	Actionable
2	Is 27.1% Fall In CommVault Systems (CVLT) Stock A Buying Opportunity?	Actionable
3	Is 27.4% Fall In CommVault Systems (CVLT) Stock A Buying Opportunity?	Actionable
4	Is 24.5% Fall In CommVault Systems (CVLT) Stock A Buying Opportunity?	Actionable
5	Can CommVault Systems Stock Recover If Markets Fall?	Return
6	CommVault Systems vs Meta Platforms: Which Is A Better Investment?	Counter-Intuitive Comparisons
7	CommVault Systems vs Advanced Micro Devices: Which Is A Better Investment?	Counter-Intuitive Comparisons
8	Is CommVault Systems Stock Outperforming Its Rivals?	Peer Comparison
9	Better Bet Than CVLT Stock: Pay Less Than CommVault Systems To Get More From NVDA, META
10	Better Bet Than CVLT Stock: Pay Less Than CommVault Systems To Get More From NVDA, AVGO
11	ARTICLES
12	CommVault Systems Stock To $89?		November 13th, 2025
13	CommVault Systems Stock To $90?		November 12th, 2025
14	CommVault Systems Stock To $97?		October 30th, 2025
15	CommVault Systems Stock To $102?		October 29th, 2025
16	With CommVault Systems Stock Down 16% In A Day, How Confident Are You?		October 29th, 2025

	Title
0	DASHBOARDS
1	Is 27.6% Fall In CommVault Systems (CVLT) Stock A Buying Opportunity?
2	Is 27.1% Fall In CommVault Systems (CVLT) Stock A Buying Opportunity?
3	Is 27.4% Fall In CommVault Systems (CVLT) Stock A Buying Opportunity?
4	Is 24.5% Fall In CommVault Systems (CVLT) Stock A Buying Opportunity?
5	Can CommVault Systems Stock Recover If Markets Fall?
6	CommVault Systems vs Meta Platforms: Which Is A Better Investment?
7	CommVault Systems vs Advanced Micro Devices: Which Is A Better Investment?
8	Is CommVault Systems Stock Outperforming Its Rivals?
9	Better Bet Than CVLT Stock: Pay Less Than CommVault Systems To Get More From NVDA, META
10	Better Bet Than CVLT Stock: Pay Less Than CommVault Systems To Get More From NVDA, AVGO
11	ARTICLES
12	CommVault Systems Stock To $89?
13	CommVault Systems Stock To $90?
14	CommVault Systems Stock To $97?
15	CommVault Systems Stock To $102?
16	With CommVault Systems Stock Down 16% In A Day, How Confident Are You?

Trade Ideas

Select past ideas related to CVLT. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
ENPH_11302025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11302025	ENPH	Enphase Energy	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	0.9%	0.9%	-0.9%
PD_11262025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11262025	PD	PagerDuty	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	0.8%	0.8%	0.0%
CRM_11212025_Dip_Buyer_FCFYield	11212025	CRM	Salesforce	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	3.3%	3.3%	-0.1%
HUBS_11212025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11212025	HUBS	HubSpot	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	5.1%	5.1%	0.0%
FIVN_11212025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11212025	FIVN	Five9	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	4.0%	4.0%	0.0%

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
ENPH_11302025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11302025	ENPH	Enphase Energy	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	0.9%	0.9%	-0.9%
PD_11262025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11262025	PD	PagerDuty	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	0.8%	0.8%	0.0%
CRM_11212025_Dip_Buyer_FCFYield	11212025	CRM	Salesforce	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	3.3%	3.3%	-0.1%
HUBS_11212025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11212025	HUBS	HubSpot	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	5.1%	5.1%	0.0%
FIVN_11212025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11212025	FIVN	Five9	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	4.0%	4.0%	0.0%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
MPLT	MapLight Therapeutics	0.7	31.3%
AEVA	Aeva Technologies	0.8	25.7%	188.2%
DC	Dakota Gold	0.6	19.7%	150.9%
SERV	Serve Robotics	0.7	18.2%	-12.6%
ACDC	ProFrac	0.7	17.6%	-45.0%
HY	Hyster Yale	0.6	15.6%	-29.9%
AEO	American Eagle Outfitters	4.1	15.1%	49.7%
BEAM	Beam Therapeutics	2.7	14.4%	7.8%
GOSS	Gossamer Bio	0.8	14.4%	278.1%
FTRE	Fortrea	1.3	14.4%	-21.8%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
PSTG	Pure Storage	22.6	-27.3%	12.1%
GTLB	GitLab	6.3	-12.8%	-32.9%
CTEV	Claritev	0.7	-11.3%
FBYD	Falcons Beyond Global	0.7	-11.2%	131.2%
ACHC	Acadia Healthcare	1.3	-10.9%	-63.0%
ULS	UL Solutions	16.0	-10.7%	60.4%
HPK	HighPeak Energy	0.7	-10.6%	-59.8%
OS	OneStream	3.5	-10.4%	-35.0%
ARE	Alexandria Real Estate Equities	8.2	-10.1%	-47.9%
THO	Thor Industries	5.3	-9.5%	6.6%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
HPP	Hudson Pacific Properties	6.3	641.5%	-34.3%
TLRY	Tilray Brands	7.5	618.1%	-46.9%
TMC	TMC The Metals	2.8	42.2%	589.3%
VERA	Vera Therapeutics	2.6	40.2%	-2.4%
ARWR	Arrowhead Pharmaceuticals	9.0	39.1%	246.1%
TE	T1 Energy	0.7	37.4%
MPLT	MapLight Therapeutics	0.7	32.1%
AEVA	Aeva Technologies	0.8	31.1%	188.2%
AMKR	Amkor Technology	10.9	30.2%	73.4%
DC	Dakota Gold	0.6	30.2%	150.9%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
JANX	Janux Therapeutics	1.1	-50.7%	-68.0%
VTYX	Ventyx Biosciences	0.6	-25.0%	258.0%
CTEV	Claritev	0.7	-23.5%
AMBA	Ambarella	3.0	-22.9%	-3.6%
FULC	Fulcrum Therapeutics	0.6	-21.5%	92.8%
PD	PagerDuty	1.1	-20.5%	-33.9%
NTNX	Nutanix	12.7	-19.3%	-22.4%
CNK	Cinemark	2.6	-18.0%	-25.2%
PSTG	Pure Storage	22.6	-17.2%	12.1%
ZS	Zscaler	38.1	-15.9%	35.1%

1 Month Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
OLMA	Olema Pharmaceuticals	2.3	223.6%	367.4%
COGT	Cogent Biosciences	5.4	152.6%	402.1%
CDTX	Cidara Therapeutics	5.9	115.1%	722.1%
IRWD	Ironwood Pharmaceuticals	0.6	100.5%	-15.8%
TERN	Terns Pharmaceuticals	2.5	95.9%	396.2%
FRGE	Forge Global	0.6	90.3%	217.8%
SGML	Sigma Lithium	1.1	87.3%	-10.6%
INSP	Inspire Medical Systems	4.0	82.8%	-27.3%
NPCE	NeuroPace	0.6	77.2%	48.9%
ALMS	Alumis	0.6	71.9%	-0.3%

1 Month Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
UP	Wheels Up Experience	0.4	-52.7%	-62.4%
CCOI	Cogent Communications	0.9	-51.9%	-72.9%
SMR	NuScale Power	3.0	-50.7%	12.3%
FRMI	Fermi	10.3	-47.5%
AMSC	American Superconductor	1.4	-47.2%	30.1%
TLRY	Tilray Brands	7.5	-46.1%	-46.9%
BTDR	Bitdeer Technologies	2.4	-44.8%	-41.8%
EXOD	Exodus Movement	0.4	-43.1%	-53.3%
STUB	Stubhub	3.5	-39.8%
METC	Ramaco Resources	1.0	-39.4%	66.9%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
MPLT	MapLight Therapeutics	0.7	31.3%
AEVA	Aeva Technologies	0.8	25.7%	188.2%
DC	Dakota Gold	0.6	19.7%	150.9%
SERV	Serve Robotics	0.7	18.2%	-12.6%
ACDC	ProFrac	0.7	17.6%	-45.0%
HY	Hyster Yale	0.6	15.6%	-29.9%
AEO	American Eagle Outfitters	4.1	15.1%	49.7%
BEAM	Beam Therapeutics	2.7	14.4%	7.8%
GOSS	Gossamer Bio	0.8	14.4%	278.1%
FTRE	Fortrea	1.3	14.4%	-21.8%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
PSTG	Pure Storage	22.6	-27.3%	12.1%
GTLB	GitLab	6.3	-12.8%	-32.9%
CTEV	Claritev	0.7	-11.3%
FBYD	Falcons Beyond Global	0.7	-11.2%	131.2%
ACHC	Acadia Healthcare	1.3	-10.9%	-63.0%
ULS	UL Solutions	16.0	-10.7%	60.4%
HPK	HighPeak Energy	0.7	-10.6%	-59.8%
OS	OneStream	3.5	-10.4%	-35.0%
ARE	Alexandria Real Estate Equities	8.2	-10.1%	-47.9%
THO	Thor Industries	5.3	-9.5%	6.6%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
HPP	Hudson Pacific Properties	6.3	641.5%	-34.3%
TLRY	Tilray Brands	7.5	618.1%	-46.9%
TMC	TMC The Metals	2.8	42.2%	589.3%
VERA	Vera Therapeutics	2.6	40.2%	-2.4%
ARWR	Arrowhead Pharmaceuticals	9.0	39.1%	246.1%
TE	T1 Energy	0.7	37.4%
MPLT	MapLight Therapeutics	0.7	32.1%
AEVA	Aeva Technologies	0.8	31.1%	188.2%
AMKR	Amkor Technology	10.9	30.2%	73.4%
DC	Dakota Gold	0.6	30.2%	150.9%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
JANX	Janux Therapeutics	1.1	-50.7%	-68.0%
VTYX	Ventyx Biosciences	0.6	-25.0%	258.0%
CTEV	Claritev	0.7	-23.5%
AMBA	Ambarella	3.0	-22.9%	-3.6%
FULC	Fulcrum Therapeutics	0.6	-21.5%	92.8%
PD	PagerDuty	1.1	-20.5%	-33.9%
NTNX	Nutanix	12.7	-19.3%	-22.4%
CNK	Cinemark	2.6	-18.0%	-25.2%
PSTG	Pure Storage	22.6	-17.2%	12.1%
ZS	Zscaler	38.1	-15.9%	35.1%

Peer Comparisons for CommVault Systems

Peers to compare with:

Financials

	CVLT	STX	TYL	SPSC	CHOW	ECST	Median
Name	CommVaul.	Seagate .	Tyler Te.	SPS Comm.	ChowChow.	ECST
Mkt Price	123.95	258.67	461.84	83.50	9.80	-	123.95
Mkt Cap	5.5	55.6	19.9	3.2	-	-	12.7
Rev LTM	1,096	9,097	2,298	730	-	-	1,697
Op Inc LTM	86	1,915	354	108	-	-	231
FCF LTM	209	818	600	148	-	-	405
FCF 3Y Avg	201	703	467	127	-	-	334
CFO LTM	216	1,083	634	173	-	-	425
CFO 3Y Avg	206	981	512	149	-	-	359

Growth & Margins

	CVLT	STX	TYL	SPSC	CHOW	ECST	Median
Name	CommVaul.	Seagate .	Tyler Te.	SPS Comm.	ChowChow.	ECST
Rev Chg LTM	22.0%	38.9%	10.6%	19.3%	-	-	20.7%
Rev Chg 3Y Avg	11.7%	-3.0%	7.9%	19.1%	-	-	9.8%
Rev Chg Q	18.4%	29.5%	9.7%	16.0%	-	-	17.2%
QoQ Delta Rev Chg LTM	4.1%	6.5%	2.3%	3.7%	-	-	3.9%
Op Mgn LTM	7.8%	21.1%	15.4%	14.8%	-	-	15.1%
Op Mgn 3Y Avg	8.7%	9.4%	13.2%	14.4%	-	-	11.3%
QoQ Delta Op Mgn LTM	-0.7%	1.8%	0.3%	0.2%	-	-	0.3%
CFO/Rev LTM	19.7%	11.9%	27.6%	23.8%	-	-	21.7%
CFO/Rev 3Y Avg	22.3%	12.9%	24.1%	24.1%	-	-	23.2%
FCF/Rev LTM	19.1%	9.0%	26.1%	20.3%	-	-	19.7%
FCF/Rev 3Y Avg	21.8%	9.2%	21.9%	20.5%	-	-	21.2%

Valuation

	CVLT	STX	TYL	SPSC	CHOW	ECST	Median
Name	CommVaul.	Seagate .	Tyler Te.	SPS Comm.	ChowChow.	ECST
Mkt Cap	5.5	55.6	19.9	3.2	-	-	12.7
P/S	7.6	5.6	9.8	5.4	-	-	6.6
P/EBIT	96.5	27.7	58.3	36.4	-	-	47.4
P/E	104.5	34.5	71.6	46.4	-	-	59.0
P/CFO	38.9	46.9	35.6	22.7	-	-	37.2
Total Yield	1.0%	4.1%	1.4%	2.2%	-	-	1.8%
Dividend Yield	0.0%	1.2%	0.0%	0.0%	-	-	0.0%
FCF Yield 3Y Avg	3.9%	3.0%	2.2%	2.4%	-	-	2.7%
D/E	0.1	0.1	0.0	0.0	-	-	0.1
Net D/E	-0.0	0.1	-0.0	-0.0	-	-	-0.0

Returns

	CVLT	STX	TYL	SPSC	CHOW	ECST	Median
Name	CommVaul.	Seagate .	Tyler Te.	SPS Comm.	ChowChow.	ECST
1M Rtn	-11.7%	-2.6%	-1.1%	1.2%	11.4%	-	-1.1%
3M Rtn	-30.8%	47.2%	-16.6%	-22.7%	-	-	-19.7%
6M Rtn	-32.0%	104.4%	-20.1%	-42.4%	-	-	-26.0%
12M Rtn	-27.3%	168.2%	-25.9%	-56.4%	-	-	-26.6%
3Y Rtn	85.2%	440.0%	35.0%	-42.5%	-	-	60.1%
1M Excs Rtn	-11.7%	-2.6%	-1.1%	1.2%	11.4%	-	-1.1%
3M Excs Rtn	-35.4%	35.7%	-22.0%	-29.0%	-	-	-25.5%
6M Excs Rtn	-46.7%	89.7%	-34.8%	-57.1%	-	-	-40.7%
12M Excs Rtn	-41.3%	147.9%	-40.1%	-70.3%	-	-	-40.7%
3Y Excs Rtn	17.7%	374.0%	-31.4%	-110.0%	-	-	-6.9%

Comparison Analyses

	Title
0	Is CommVault Systems Stock Outperforming Its Rivals?
1	CommVault Systems vs. Tyler Technologies: With Return Forecast Of 25%, Tyler Technologies Is A Better Bet
2	CVLT or RMBS - With 49% Return Forecast, RMBS Probably Deserves Your Money
3	CommVault Systems vs. Progress Software: With Return Forecast Of 9.6%, Progress Software Is A Better Bet
4	CVLT Could Deliver 27% Returns And Outperform SABR
5	CommVault Systems vs Datadog: Similar Revenue; Which Stock Is A Better Bet?
6	CommVault Systems vs Kennametal: Similar Market Cap; Which Stock Is A Better Bet?
7	CommVault Systems vs Dorman Products: Similar Market Cap; Which Stock Is A Better Bet?
8	CommVault Systems vs Flow International: Similar Market Cap; Which Stock Is A Better Bet?

Financials

Annual
Quarterly

$ Mil \| FY: 3/31	LTM	2025	2024	2023	2022	2021	2020
Period End	9/30/2025	3/31/2025	3/31/2024	3/31/2023	3/31/2022	3/31/2021	3/31/2020
Filing Date	10/29/2025	5/5/2025	5/13/2024	5/5/2023	5/6/2022	5/13/2021	5/15/2020
Key Financials
Total Revenue	1,096	996	839	785	770	723	671
EBITDA	98	91	91	-5	54	-5	5
Operating Income	86	89	80	53	48	42	0
Net Income	80	76	169	-36	34	-31	-6
EPS	1.81	1.74	3.85	-0.80	0.74	-0.66	-0.12
Growth Rates
Total Revenue Growth	22.0%	18.6%	7.0%	1.9%	6.4%	7.8%	-5.6%
EBITDA Growth	8.0%	0.1%	2082.9%	-108.4%	1116.9%	-218.5%	-85.8%
Operating Income Growth	0.6%	11.1%	50.6%	11.1%	14.0%	73422.8%	-99.7%
Net Income Growth	-54.8%	-54.9%	572.1%	-206.4%	208.6%	-448.3%	-258.5%
Margins
EBITDA Margin	8.9%	9.1%	10.8%	-0.6%	7.1%	-0.7%	0.7%
Operating Income Margin	7.8%	8.9%	9.5%	6.8%	6.2%	5.8%	0.0%
Net Income Margin	7.3%	7.6%	20.1%	-4.6%	4.4%	-4.3%	-0.8%
Cash & Debt
Total Cash	1,064	302	313	288	268	397	332
Total Debt	908	11	12	13	16	23	17
Net Debt / (Cash)	-155	-291	-301	-275	-251	-374	-315
Cash Flows
Net Cash from Operations	216	207	204	170	177	124	88
Free Cash from Operations	209	204	200	167	173	116	85
Returns to Shareholders
Dividends	0	-0	-0	-0	-0	-0	-0
Share Repurchases	208	165	184	151	305	95	77

$ Mil \| FY: 3/31	2026Q2	2026Q1	2025Q4	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	10/29/2025	7/30/2025	5/5/2025	1/29/2025	10/30/2024	7/31/2024	5/13/2024	1/31/2024	11/1/2023	8/1/2023	5/5/2023	1/31/2023
Key Financials Quarterly
Total Revenue	276	282	275	263	233	225	223	217	201	198	203	195
Ebitda	19	30	31	18	19	23	25	24	20	21	-36	8
Operating Income	14	25	27	20	18	23	23	21	18	18	20	14
Net Income	15	23	31	11	16	19	126	17	13	13	-43	-0
EPS	0.33	0.53	0.70	0.25	0.36	0.42	2.89	0.39	0.30	0.29	-0.98	-0.01
Key Financials TTM
Total Revenue TTM	1,096	1,053	996	944	898	866	839	819	798	785	785	787
Ebitda TTM	98	98	91	84	90	92	91	30	14	6	-5	46
Operating Income TTM	86	90	89	84	85	85	80	77	70	62	53	49
Net Income TTM	80	81	76	171	177	175	169	-1	-18	-27	-36	16
Growth Rates Quarterly
Total Revenue Growth	18.4%	25.5%	23.2%	21.1%	16.1%	13.4%	9.7%	11.1%	6.9%	0.1%	-1.2%	-3.6%
EBITDA Growth	-0.5%	31.4%	24.9%	-25.0%	-7.9%	7.0%	169.7%	188.4%	61.5%	106.2%	-335.3%	-47.5%
Operating Income Growth	-24.5%	7.3%	19.2%	-4.7%	4.6%	25.0%	14.2%	47.8%	89.3%	92.9%	28.0%	15.2%
Net Income Growth	-5.4%	26.8%	-75.4%	-35.7%	19.6%	46.7%	390.0%	5629.0%	188.1%	259.7%	-644.5%	-103.1%
Margins Quarterly
EBITDA Margin	6.8%	10.6%	11.3%	6.8%	8.1%	10.1%	11.2%	11.0%	10.2%	10.7%	-17.6%	4.3%
Operating Income Margin	5.0%	8.8%	9.9%	7.6%	7.9%	10.3%	10.2%	9.7%	8.8%	9.3%	9.8%	7.3%
Net Income Margin	5.3%	8.3%	11.3%	4.2%	6.7%	8.2%	56.5%	7.9%	6.5%	6.4%	-21.4%	-0.2%
Cash & Debt
Total Cash	1,064	363	302	244	303	288	313	284	283	275	288	273
Total Debt	908	30	11	12	13	12	12	13	14	12	13	12
Net Debt / (Cash)	-155	-334	-291	-232	-291	-276	-301	-271	-269	-262	-275	-261
Cash Flows Quarterly
FCF from Operations	77	32	77	30	56	45	80	44	40	39	68	30
Cash Flows TTM
FCF from Operations TTM	216	194	207	210	225	209	204	192	177	187	170	190
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	131	15	30	32	52	51	50	51	31	51	61	31
Return on Invested Capital (ROIC) Quarterly
ROIC	4.2%	7.5%	9.3%	4.9%	6.2%	7.6%	8.8%	6.2%	4.8%	4.8%	8.2%	5.9%
Return on Invested Capital (ROIC) TTM
ROIC TTM	6.2%	7.3%	7.1%	7.1%	7.7%	7.8%	7.7%	7.4%	6.9%	6.2%	5.4%	2.3%

Segment Financials

Revenue by Segment

$ Mil	2025	2024	2023	2022	2021
Single Segment	839	785
Customer support			347	358	360
Other Services Revenue			66	39
Software and Products Revenue			356	327	275
Professional Services					35
Total	839	785	770	723	671

Price Behavior

Price Behavior

Market Price	$123.95
Market Cap ($ Bil)	5.5
First Trading Date	09/22/2006
Distance from 52W High	-36.6%
	50 Days	200 Days
DMA Price	$151.73	$167.73
DMA Trend	down	down
Distance from DMA	-18.3%	-26.1%
	3M	1YR
Volatility	50.4%	49.1%
Downside Capture	247.43	169.64
Upside Capture	7.92	116.19
Correlation (SPY)	36.2%	57.1%

CVLT Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	1.19	1.40	1.58	1.43	1.41	1.22
Up Beta	1.78	3.86	3.36	2.71	1.39	1.19
Down Beta	1.06	0.64	0.80	1.34	1.46	1.40
Up Capture	10%	-69%	-2%	22%	120%	159%
Bmk +ve Days	12	25	38	73	141	426
Stock +ve Days	8	14	25	55	123	412
Down Capture	158%	215%	230%	171%	131%	104%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	11	27	37	68	123	335

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

1Y 5Y 10Y

Based On 1-Year Data

		Comparison of CVLT With Other Asset Classes (Last 1Y)
	CVLT	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-27.8%	25.9%	15.3%	58.9%	4.6%	-5.8%	-3.1%
Annualized Volatility	48.8%	27.6%	19.7%	19.4%	15.9%	17.8%	35.7%
Sharpe Ratio	-0.51	0.81	0.60	2.26	0.09	-0.48	0.04
Correlation With Other Assets		56.2%	57.1%	9.9%	24.9%	48.3%	28.1%

ETFs used for asset classes: Sector ETF = XLK, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data

		Comparison of CVLT With Other Asset Classes (Last 5Y)
	CVLT	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	20.9%	19.9%	15.0%	17.9%	11.9%	4.9%	37.1%
Annualized Volatility	38.9%	24.6%	17.1%	15.5%	18.9%	19.0%	49.1%
Sharpe Ratio	0.60	0.73	0.71	0.93	0.52	0.17	0.64
Correlation With Other Assets		48.6%	50.3%	11.1%	11.4%	34.1%	21.3%

Based On 10-Year Data

		Comparison of CVLT With Other Asset Classes (Last 10Y)
	CVLT	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	11.8%	22.2%	14.5%	14.2%	5.6%	5.4%	76.3%
Annualized Volatility	36.1%	24.2%	18.0%	14.8%	17.7%	20.9%	55.9%
Sharpe Ratio	0.42	0.84	0.69	0.79	0.25	0.23	0.95
Correlation With Other Assets		49.0%	50.2%	5.5%	17.1%	36.2%	16.7%

Short Interest

Short Interest: As Of Date	11142025
Short Interest: Shares Quantity	2,206,011
Short Interest: % Change Since 10312025	-20.4%
Average Daily Volume	929,286
Days-to-Cover Short Interest	2.37
Basic Shares Quantity	44,406,000
Short % of Basic Shares	5.0%

Returns Analyses

	Title
0	Can CommVault Systems Stock Recover If Markets Fall?
1	CommVault Systems Stock Return Comparison
2	[10/14/2021] CommVault Systems (CVLT) Stock Price Forecast: AI Forecasts CVLT Stock Price To Be Around $77.40 In A Month (Up 2.3%)
3	CommVault Systems Total Shareholder Return (TSR): -14.5% in 2023 and 11.9% 3-yr returns (below peer average)
4	CommVault Systems (CVLT) Stock Return: AI Predicts CVLT Average and Excess Return After a Fall or Rise

SEC Filings

Expand for More

Report Date	Filing Date	Filing
9302025	10292025	10-Q 9/30/2025
6302025	7302025	10-Q 6/30/2025
3312025	5052025	10-K 3/31/2025
12312024	1292025	10-Q 12/31/2024
9302024	10302024	10-Q 9/30/2024
6302024	7312024	10-Q 6/30/2024
3312024	5132024	10-K 3/31/2024
12312023	1312024	10-Q 12/31/2023
9302023	11012023	10-Q 9/30/2023
6302023	8012023	10-Q 6/30/2023
3312023	5052023	10-K 3/31/2023
12312022	1312023	10-Q 12/31/2022
9302022	11012022	10-Q 9/30/2022
6302022	7272022	10-Q 6/30/2022
3312022	5062022	10-K 3/31/2022
12312021	1262022	10-Q 12/31/2021

Industry Resources

Systems Software Resources

Software Development Times

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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CommVault Systems (CVLT)

Market Price (12/4/2025): $123.9 | Market Cap: $5.5 BilSector: Information Technology | Industry: Systems Software

CommVault Systems (CVLT)

Market Price (12/4/2025): $123.9Market Cap: $5.5 BilSector: Information TechnologyIndustry: Systems Software

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About CommVault Systems (CVLT)

1. Continued Growth of the SaaS Platform

2. Increasing Demand for Cyber Resilience and Multi-Cloud Data Protection

3. Strategic Alliances and Acquisitions

4. Customer Acquisition and Expansion in Emerging Markets

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Market Price (12/4/2025): $123.9 | Market Cap: $5.5 Bil
Sector: Information Technology | Industry: Systems Software

Market Price (12/4/2025): $123.9
Market Cap: $5.5 Bil
Sector: Information Technology
Industry: Systems Software