Tearsheet

CommVault Systems (CVLT)


Market Price (12/26/2025): $127.17 | Market Cap: $5.6 Bil
Sector: Information Technology | Industry: Systems Software

CommVault Systems (CVLT)


Market Price (12/26/2025): $127.17
Market Cap: $5.6 Bil
Sector: Information Technology
Industry: Systems Software

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.


0 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%
Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 11%
1 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -30%
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 -2.7%
2 Low stock price volatility
Vol 12M is 49%
Key risks
CVLT key risks include [1] reputational damage from a potential breach of its own security services, Show more.
3 Megatrend and thematic drivers
Megatrends include Cybersecurity, and Cloud Computing. Themes include Software Security, Software as a Service (SaaS), Show more.
 
0 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%
1 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -30%
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 Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 11%
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 -2.7%
6 Key risks
CVLT key risks include [1] reputational damage from a potential breach of its own security services, Show more.

Valuation, Metrics & Events

CVLT Stock


Why The Stock Moved


Qualitative Assessment

AI Analysis | Feedback

Here are the key points for the approximate -31.9% movement in CommVault Systems (CVLT) stock between August 31, 2025, and December 26, 2025:

1. Adjusted EPS and Operating Income Miss in Q3 CY2025: CommVault Systems reported its third-quarter calendar year 2025 earnings on November 4, 2025, where its adjusted earnings per share (EPS) of $0.91 missed analyst expectations of $0.94. Additionally, adjusted operating income of $51.41 million fell short of estimates, and the operating margin declined to 4.5% from 6.4% year-over-year.

2. Concerns Over Profitability and Increased Investments: Despite solid revenue growth, the market responded negatively to the Q3 CY2025 earnings, likely due to concerns over profit margins and earnings below Wall Street's expectations. Management indicated that higher investments aimed at capturing market share in the data protection landscape impacted profitability.

Show more

Stock Movement Drivers

Fundamental Drivers

The -31.6% change in CVLT stock from 9/25/2025 to 12/25/2025 was primarily driven by a -30.7% change in the company's P/E Multiple.
925202512252025Change
Stock Price ($)185.84127.18-31.56%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)1052.921095.844.08%
Net Income Margin (%)7.70%7.32%-4.91%
P/E Multiple101.6070.38-30.73%
Shares Outstanding (Mil)44.3344.41-0.18%
Cumulative Contribution-31.57%

LTM = Last Twelve Months as of date shown

Market Drivers

9/25/2025 to 12/25/2025
ReturnCorrelation
CVLT-31.6% 
Market (SPY)4.9%36.6%
Sector (XLK)5.3%28.4%

Fundamental Drivers

The -27.3% change in CVLT stock from 6/26/2025 to 12/25/2025 was primarily driven by a -30.5% change in the company's P/E Multiple.
626202512252025Change
Stock Price ($)174.97127.18-27.31%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)995.621095.8410.07%
Net Income Margin (%)7.64%7.32%-4.21%
P/E Multiple101.3070.38-30.52%
Shares Outstanding (Mil)44.0644.41-0.78%
Cumulative Contribution-27.32%

LTM = Last Twelve Months as of date shown

Market Drivers

6/26/2025 to 12/25/2025
ReturnCorrelation
CVLT-27.3% 
Market (SPY)13.1%32.9%
Sector (XLK)16.7%28.6%

Fundamental Drivers

The -19.4% change in CVLT stock from 12/25/2024 to 12/25/2025 was primarily driven by a -62.9% change in the company's Net Income Margin (%).
1225202412252025Change
Stock Price ($)157.71127.18-19.36%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)898.051095.8422.02%
Net Income Margin (%)19.75%7.32%-62.92%
P/E Multiple38.9270.3880.83%
Shares Outstanding (Mil)43.7744.41-1.45%
Cumulative Contribution-19.38%

LTM = Last Twelve Months as of date shown

Market Drivers

12/25/2024 to 12/25/2025
ReturnCorrelation
CVLT-19.4% 
Market (SPY)15.8%56.4%
Sector (XLK)22.2%55.3%

Fundamental Drivers

The 103.0% change in CVLT stock from 12/26/2022 to 12/25/2025 was primarily driven by a 123.5% change in the company's Net Income Margin (%).
1226202212252025Change
Stock Price ($)62.65127.18103.00%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)794.371095.8437.95%
Net Income Margin (%)3.28%7.32%123.50%
P/E Multiple107.7570.38-34.68%
Shares Outstanding (Mil)44.7644.410.79%
Cumulative Contribution102.99%

LTM = Last Twelve Months as of date shown

Market Drivers

12/26/2023 to 12/25/2025
ReturnCorrelation
CVLT58.0% 
Market (SPY)48.3%48.4%
Sector (XLK)53.5%45.9%

Return vs. Risk


Price Returns Compared

 202020212022202320242025Total [1]
Returns
CVLT Return24%24%-9%27%89%-16%184%
Peers Return�������
S&P 500 Return16%27%-19%24%23%18%115%

Monthly Win Rates [3]
CVLT Win Rate42%75%42%50%83%58% 
Peers Win Rate������ 
S&P 500 Win Rate58%75%42%67%75%73% 

Max Drawdowns [4]
CVLT Max Drawdown-38%-1%-26%-14%-7%-22% 
Peers Max Drawdown������ 
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, AGPU, AIXC. 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 12/24/2025 (YTD)

How Low Can It Go

Unique KeyEventCVLTS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-39.1%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven64.2%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven502 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-46.0%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven85.2%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven267 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-42.5%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven73.9%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven648 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-65.3%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven188.0%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven393 days1,480 days

Compare to STX, TYL, SPSC, AGPU, AIXC

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.

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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 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 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.

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  • 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 Analysis | Feedback

CommVault Systems (CVLT) faces several key risks to its business operations, primarily stemming from the highly competitive nature of its market, the constant evolution of cyber threats, and challenges related to its product offerings and distribution.

  1. Intense Competition: CommVault operates in a highly competitive data protection and cyber resilience market. It faces competition from a wide array of companies, including legacy providers like Veritas NetBackup and Dell Technologies, as well as modern cloud-native solutions such as Cohesity, Rubrik, and Veeam. This intense competitive landscape can lead to pressure on pricing, challenges in differentiating offerings, and potential constraints on market share growth.

  2. Evolving Cybersecurity Threat Landscape and Risk of Internal Breaches: While CommVault provides cyber resilience solutions, the ever-changing and increasingly sophisticated nature of cyber threats, including ransomware and AI-exacerbated attacks, presents an inherent risk to its own operations and the effectiveness of its products. As a cybersecurity provider, a breach within CommVault's own services, such as the May 2025 compromise of its Metallic cloud backup service, can severely damage customer trust and business reputation, highlighting the critical need for continuous innovation and robust internal security.

  3. Product Complexity and Dependence on Key Distribution Partners: CommVault's comprehensive product portfolio is noted for its complexity, which can result in implementation challenges, particularly for smaller businesses. This complexity often requires specialized technical expertise and extensive configuration, potentially creating a high learning curve for administrative personnel. Furthermore, the company relies significantly on distribution partners, with one major distributor, Arrow, accounting for approximately 36-37% of its total revenue in recent fiscal years. This concentration of sales through a few partners introduces a risk, as disruptions with these relationships could materially impact revenues and market reach.

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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 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 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)

Trade Ideas

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

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
ENPH_11302025_Dip_Buyer_High_CFO_Margins_ExInd_DE11302025ENPHEnphase EnergyDip BuyDB | 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
13.9%13.9%-0.9%
PD_11262025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG11262025PDPagerDutyDip BuyDB | 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
12.0%12.0%0.0%
CRM_11212025_Dip_Buyer_FCFYield11212025CRMSalesforceDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
17.0%17.0%-0.1%
HUBS_11212025_Dip_Buyer_High_CFO_Margins_ExInd_DE11212025HUBSHubSpotDip BuyDB | 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
11.9%11.9%0.0%
FIVN_11212025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG11212025FIVNFive9Dip BuyDB | 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
4.1%4.1%0.0%

Recent Active Movers

More From Trefis

Peer Comparisons for CommVault Systems

Peers to compare with:

Financials

CVLTSTXTYLSPSCAGPUAIXCMedian
NameCommVaul.Seagate .Tyler Te.SPS Comm.Axe Comp.AIxCrypto 
Mkt Price127.18285.27461.3291.916.052.70109.55
Mkt Cap5.661.319.93.5--12.8
Rev LTM1,0969,0972,29873020913
Op Inc LTM861,915354108-11-797
FCF LTM209818600148-11-7179
FCF 3Y Avg201703467127-12-8164
CFO LTM2161,083634173-11-7195
CFO 3Y Avg206981512149-12-8177

Growth & Margins

CVLTSTXTYLSPSCAGPUAIXCMedian
NameCommVaul.Seagate .Tyler Te.SPS Comm.Axe Comp.AIxCrypto 
Rev Chg LTM22.0%38.9%10.6%19.3%-5.9%-19.3%
Rev Chg 3Y Avg11.7%-3.0%7.9%19.1%4.9%-7.9%
Rev Chg Q18.4%29.5%9.7%16.0%384.3%-18.4%
QoQ Delta Rev Chg LTM4.1%6.5%2.3%3.7%310.5%-4.1%
Op Mgn LTM7.8%21.1%15.4%14.8%-673.7%-14.8%
Op Mgn 3Y Avg8.7%9.4%13.2%14.4%-814.1%-9.4%
QoQ Delta Op Mgn LTM-0.7%1.8%0.3%0.2%2,164.9%-0.3%
CFO/Rev LTM19.7%11.9%27.6%23.8%-675.9%-19.7%
CFO/Rev 3Y Avg22.3%12.9%24.1%24.1%-726.7%-22.3%
FCF/Rev LTM19.1%9.0%26.1%20.3%-676.8%-19.1%
FCF/Rev 3Y Avg21.8%9.2%21.9%20.5%-743.6%-20.5%

Valuation

CVLTSTXTYLSPSCAGPUAIXCMedian
NameCommVaul.Seagate .Tyler Te.SPS Comm.Axe Comp.AIxCrypto 
Mkt Cap5.661.319.93.5--12.8
P/S5.26.78.74.8--5.9
P/EBIT65.033.451.432.1--42.4
P/E70.441.863.140.9--52.4
P/CFO26.256.631.420.1--28.8
Total Yield1.4%3.4%1.6%2.4%--2.0%
Dividend Yield0.0%1.0%0.0%0.0%--0.0%
FCF Yield 3Y Avg3.9%3.0%2.2%2.4%--2.7%
D/E0.20.10.00.0--0.1
Net D/E-0.00.1-0.0-0.0---0.0

Returns

CVLTSTXTYLSPSCAGPUAIXCMedian
NameCommVaul.Seagate .Tyler Te.SPS Comm.Axe Comp.AIxCrypto 
1M Rtn2.6%9.2%-2.0%10.6%-10.7%9.2%
3M Rtn-31.6%30.5%-11.7%-12.4%---12.0%
6M Rtn-27.3%103.9%-20.1%-31.4%---23.7%
12M Rtn-19.4%228.6%-23.0%-51.6%---21.2%
3Y Rtn103.0%517.6%44.1%-27.8%--73.6%
1M Excs Rtn2.5%9.5%-1.6%9.9%--0.3%2.5%
3M Excs Rtn-36.5%25.6%-16.6%-17.4%---17.0%
6M Excs Rtn-40.2%91.1%-33.0%-44.3%---36.6%
12M Excs Rtn-36.8%216.2%-40.7%-68.1%---38.7%
3Y Excs Rtn22.5%438.7%-37.4%-109.2%---7.5%

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Single Segment839785   
Customer support  347358360
Other Services Revenue  6639 
Software and Products Revenue  356327275
Professional Services    35
Total839785770723671


Price Behavior

Price Behavior
Market Price$127.18 
Market Cap ($ Bil)5.6 
First Trading Date09/22/2006 
Distance from 52W High-34.9% 
   50 Days200 Days
DMA Price$134.50$164.30
DMA Trenddowndown
Distance from DMA-5.4%-22.6%
 3M1YR
Volatility46.0%48.9%
Downside Capture194.07158.02
Upside Capture-26.40113.83
Correlation (SPY)34.9%56.3%
CVLT Betas & Captures as of 11/30/2025

 1M2M3M6M1Y3Y
Beta1.191.401.581.431.411.22
Up Beta1.783.863.362.711.391.19
Down Beta1.060.640.801.341.461.40
Up Capture10%-69%-2%22%120%159%
Bmk +ve Days12253873141426
Stock +ve Days8142555123412
Down Capture158%215%230%171%131%104%
Bmk -ve Days7162452107323
Stock -ve Days11273768123335

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
 Comparison of CVLT With Other Asset Classes (Last 1Y)
 CVLTSector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return-19.6%26.7%19.2%71.9%8.9%6.0%-10.1%
Annualized Volatility48.5%27.6%19.5%19.3%15.3%17.1%35.0%
Sharpe Ratio-0.300.840.782.690.360.18-0.12
Correlation With Other Assets 55.1%56.2%8.9%24.4%47.3%26.7%

ETFs used for asset classes: Sector ETF = XLK, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
 Comparison of CVLT With Other Asset Classes (Last 5Y)
 CVLTSector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return19.5%19.0%14.9%18.7%11.7%4.8%32.7%
Annualized Volatility38.9%24.7%17.1%15.5%18.7%18.9%48.7%
Sharpe Ratio0.570.690.700.970.510.170.60
Correlation With Other Assets 48.6%50.3%11.3%11.0%34.1%22.0%

ETFs used for asset classes: Sector ETF = XLK, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
 Comparison of CVLT With Other Asset Classes (Last 10Y)
 CVLTSector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return12.2%22.3%14.7%14.9%6.9%5.2%69.3%
Annualized Volatility36.1%24.2%18.0%14.8%17.6%20.8%55.8%
Sharpe Ratio0.430.840.700.830.310.220.90
Correlation With Other Assets 48.9%50.2%5.6%16.9%36.1%16.9%

ETFs used for asset classes: Sector ETF = XLK, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date12152025
Short Interest: Shares Quantity1,768,402
Short Interest: % Change Since 11302025-10.3%
Average Daily Volume731,715
Days-to-Cover Short Interest2.42
Basic Shares Quantity44,406,000
Short % of Basic Shares4.0%

Earnings Returns History

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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
10/28/2025-16.3%-19.4%-28.8%
7/29/202518.3%14.1%8.7%
4/29/20251.7%4.8%6.5%
1/28/20251.1%0.6%8.6%
10/29/202424.0%14.8%29.7%
7/30/202422.8%9.6%23.0%
4/30/20243.1%9.6%11.8%
1/30/20248.0%14.7%16.8%
...
SUMMARY STATS   
# Positive161315
# Negative8119
Median Positive3.6%7.4%11.1%
Median Negative-12.1%-8.4%-10.0%
Max Positive24.0%14.8%29.7%
Max Negative-19.4%-20.3%-28.8%

SEC Filings

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Report DateFiling DateFiling
93020251029202510-Q 9/30/2025
6302025730202510-Q 6/30/2025
3312025505202510-K 3/31/2025
12312024129202510-Q 12/31/2024
93020241030202410-Q 9/30/2024
6302024731202410-Q 6/30/2024
3312024513202410-K 3/31/2024
12312023131202410-Q 12/31/2023
93020231101202310-Q 9/30/2023
6302023801202310-Q 6/30/2023
3312023505202310-K 3/31/2023
12312022131202310-Q 12/31/2022
93020221101202210-Q 9/30/2022
6302022727202210-Q 6/30/2022
3312022506202210-K 3/31/2022
12312021126202210-Q 12/31/2021