GitLab (GTLB)
Market Price (12/4/2025): $37.82 | Market Cap: $6.3 BilSector: Information Technology | Industry: Systems Software
GitLab (GTLB)
Market Price (12/4/2025): $37.82Market Cap: $6.3 BilSector: Information TechnologyIndustry: 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
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -16% | Weak multi-year price returns2Y Excs Rtn is -73%, 3Y Excs Rtn is -75% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -101 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -12% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 29% | Expensive valuation multiplesP/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 179x | |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -28% | Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.4% | |
| Megatrend and thematic driversMegatrends include Cloud Computing, Cybersecurity, and Digital Transformation & Software Innovation. Themes include Software as a Service (SaaS), Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -16% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 29% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -28% |
| Megatrend and thematic driversMegatrends include Cloud Computing, Cybersecurity, and Digital Transformation & Software Innovation. Themes include Software as a Service (SaaS), Show more. |
| Weak multi-year price returns2Y Excs Rtn is -73%, 3Y Excs Rtn is -75% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -101 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -12% |
| Expensive valuation multiplesP/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 179x |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.4% |
Valuation, Metrics & Events
GTLB Stock
Why The Stock Moved
Qualitative Assessment
AI Generated Analysis | Feedback
The GitLab (GTLB) stock experienced a decline of approximately 21.2% in the period from August 31, 2025, to December 4, 2025, driven by a combination of factors, primarily related to financial guidance, executive changes, and market sentiment.
1. GitLab's Q2 Fiscal Year 2026 Earnings and Conservative Guidance: GitLab's shares sank after its fiscal second-quarter earnings and revenue fell short of estimates, leading to a 14.3% drop on December 3, 2025. This was compounded by conservative full-year revenue guidance, which pointed to revenue deceleration in the second half of the fiscal year. While Q2 fiscal year 2026 revenue climbed 29% year over year to $236 million, exceeding the company's forecast, the cautious outlook contributed to investor concerns.
2. CFO Transition and Management Changes: The departure of GitLab's Chief Financial Officer, Brian Robins, effective September 19, 2025, also contributed to investor uncertainty. James Shen was initially tapped as interim CFO, followed by the appointment of Jessica Ross as the new CFO, effective January 15, 2026. These executive changes, along with other senior management adjustments, can sometimes lead to market apprehension regarding future company direction.
Stock Movement Drivers
Return vs. Risk
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| GTLB Return | - | - | -48% | 39% | -10% | -23% | -50% |
| Peers Return | 7% | 10% | -36% | 52% | 5% | -13% | 4% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 16% | 112% |
Monthly Win Rates [3] | |||||||
| GTLB Win Rate | - | 0% | 33% | 42% | 58% | 30% | |
| Peers Win Rate | 25% | 38% | 30% | 48% | 37% | 58% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 70% | |
Max Drawdowns [4] | |||||||
| GTLB Max Drawdown | - | - | -62% | -41% | -35% | -31% | |
| Peers Max Drawdown | -23% | -4% | -48% | -10% | -18% | -27% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: NTNX, MANH, CFLT, PATH, CHOW.
[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
| Event | GTLB | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -79.5% | -25.4% |
| % Gain to Breakeven | 388.9% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
Compare to NTNX, MANH, CFLT, PATH, CHOW
In The Past
GitLab's stock fell -79.5% during the 2022 Inflation Shock from a high on 11/8/2021. A -79.5% loss requires a 388.9% gain to breakeven.
Preserve Wealth
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Asset Allocation
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Latest Trefis Analyses
| Title | Topic | Date | |
|---|---|---|---|
| DASHBOARDS | |||
| With GitLab Stock Sliding, Have You Assessed The Risk? | Return | ||
| How Does GitLab Stock Compare With Peers? | Peer Comparison | ||
| GTLB Dip Buy Analysis | |||
| GitLab (GTLB) Valuation Ratios Comparison | Financials | ||
| GitLab Stock Dips 13% In One Day, Now Is Not The Time To Buy The Stock | Buy or Fear | ||
| GitLab (GTLB) Operating Cash Flow Comparison | Financials | ||
| GitLab (GTLB) Net Income Comparison | Financials | ||
| GitLab (GTLB) Operating Income Comparison | Financials | ||
| GitLab (GTLB) Revenue Comparison | Financials | ||
| GitLab (GTLB) worth $11 Bil (up $1.2 Bil), more valuable than A.O. Smith | Notification | ||
| ARTICLES | |||
| GitLab Stock Drop Looks Sharp, But How Deep Can It Go? | December 4th, 2025 | ||
| What’s Happening With GitLab Stock? | October 17th, 2025 | ||
| How To Trade Gitlab Stock Ahead Of Earnings? | June 4th, 2025 |
Trade Ideas
Select past ideas related to GTLB. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11302025 | ENPH | Enphase Energy | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 0.9% | 0.9% | -0.9% |
| 11262025 | PD | PagerDuty | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 0.8% | 0.8% | 0.0% |
| 11212025 | CRM | Salesforce | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 3.3% | 3.3% | -0.1% |
| 11212025 | HUBS | HubSpot | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 5.1% | 5.1% | 0.0% |
| 11212025 | FIVN | Five9 | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 4.0% | 4.0% | 0.0% |
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11302025 | ENPH | Enphase Energy | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 0.9% | 0.9% | -0.9% |
| 11262025 | PD | PagerDuty | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 0.8% | 0.8% | 0.0% |
| 11212025 | CRM | Salesforce | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 3.3% | 3.3% | -0.1% |
| 11212025 | HUBS | HubSpot | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 5.1% | 5.1% | 0.0% |
| 11212025 | FIVN | Five9 | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 4.0% | 4.0% | 0.0% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons for GitLab
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 30.74 |
| Mkt Cap | 8.2 |
| Rev LTM | 1,113 |
| Op Inc LTM | -46 |
| FCF LTM | 310 |
| FCF 3Y Avg | 268 |
| CFO LTM | 335 |
| CFO 3Y Avg | 280 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 18.1% |
| Rev Chg 3Y Avg | 17.1% |
| Rev Chg Q | 19.2% |
| QoQ Delta Rev Chg LTM | 4.3% |
| Op Mgn LTM | -3.1% |
| Op Mgn 3Y Avg | -12.6% |
| QoQ Delta Op Mgn LTM | 2.5% |
| CFO/Rev LTM | 22.4% |
| CFO/Rev 3Y Avg | 20.7% |
| FCF/Rev LTM | 20.7% |
| FCF/Rev 3Y Avg | 19.6% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 8.2 |
| P/S | 8.1 |
| P/EBIT | -17.7 |
| P/E | 57.3 |
| P/CFO | 35.7 |
| Total Yield | 0.3% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 2.0% |
| D/E | 0.0 |
| Net D/E | -0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -4.0% |
| 3M Rtn | -13.8% |
| 6M Rtn | -6.4% |
| 12M Rtn | -28.1% |
| 3Y Rtn | 4.6% |
| 1M Excs Rtn | -4.0% |
| 3M Excs Rtn | -18.3% |
| 6M Excs Rtn | -21.1% |
| 12M Excs Rtn | -40.9% |
| 3Y Excs Rtn | -49.8% |
Returns Analyses
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 7312025 | 9042025 | 10-Q 7/31/2025 |
| 4302025 | 6112025 | 10-Q 4/30/2025 |
| 1312025 | 3212025 | 10-K 1/31/2025 |
| 10312024 | 12062024 | 10-Q 10/31/2024 |
| 7312024 | 9042024 | 10-Q 7/31/2024 |
| 4302024 | 6042024 | 10-Q 4/30/2024 |
| 1312024 | 3262024 | 10-K 1/31/2024 |
| 10312023 | 12052023 | 10-Q 10/31/2023 |
| 7312023 | 9062023 | 10-Q 7/31/2023 |
| 4302023 | 6062023 | 10-Q 4/30/2023 |
| 1312023 | 3302023 | 10-K 1/31/2023 |
| 10312022 | 12062022 | 10-Q 10/31/2022 |
| 7312022 | 9072022 | 10-Q 7/31/2022 |
| 4302022 | 6072022 | 10-Q 4/30/2022 |
| 1312022 | 4082022 | 10-K 1/31/2022 |
| 10312021 | 12072021 | 10-Q 10/31/2021 |
External Quote Links
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