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Investment Highlights Market Valuation Price Chart Business Description Interactive Breakdown Latest Trefis Analyses Better Bets vs. TWLO Recent Active Movers More From Trefis Peer Financials Peer Growth & Margins Peer Valuation Peer Returns Peer Analyses FDIC Bank Data Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Insider Activity Industry Resource Links External Quote Links

Twilio (TWLO)

Market Price (9/18/2025): $104.04 | Market Cap: $15.9 Bil
Sector: Information Technology | Industry: Systems Software

Twilio (TWLO)

Market Price (9/18/2025): $104.04
Market Cap: $15.9 Bil
Sector: Information Technology
Industry: Systems Software

Investment Highlights

0 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 17%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 15%		 Weak multi-year price returns
3Y Excs Rtn is -24%		 Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 219x, P/EPrice/Earnings or Price/(Net Income) is 784x
1   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 -4.4%
0 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 17%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 15%
1 Weak multi-year price returns
3Y Excs Rtn is -24%
2 Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 219x, P/EPrice/Earnings or Price/(Net Income) is 784x
3 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 -4.4%

Market Valuation

 9/18/252024202320222021
Share Price CYE$104.04$108.08$75.87$48.96$263.34
Market Cap CYE ($ Bil)15.916.613.89.147.1
Total Debt ($ Bil)1.11.11.21.21.3
Total Cash ($ Bil)2.52.44.04.25.4
Enterprise Value ($ Bil)14.517.715.010.348.4
Valuation Ratios     
P/S TTM3.44.03.42.316.1
P/EBIT TTM219.8-443.5-35.6-8.7-50.1
P/E TTM787.5-163.9-13.7-7.1-48.3
Sector Ratios     
P/S TTM (Sector)3.23.12.82.55.0
P/EBIT TTM (Sector)3.9-0.0-0.1-0.51.7
P/E TTM (Sector)-0.4-0.3-0.4-0.50.0
 9/18/2520242023
Share Price CYE$104.04$108.08$75.87
Market Cap CYE ($ Bil)15.916.613.8
Total Debt ($ Bil)1.11.11.2
Total Cash ($ Bil)2.52.44.0
Enterprise Value ($ Bil)14.517.715.0
Valuation Ratios   
P/S TTM3.44.03.4
P/EBIT TTM219.8-443.5-35.6
P/E TTM787.5-163.9-13.7
Sector Ratios   
P/S TTM (Sector)3.23.12.8
P/EBIT TTM (Sector)3.9-0.0-0.1
P/E TTM (Sector)-0.4-0.3-0.4

Market Cap Chart

Business Description

Twilio Inc., together with its subsidiaries, provides a cloud communications platform that enables developers to build, scale, and operate customer engagement within software applications in the United States and internationally. Its customer engagement platform provides a set of application programming interfaces that handle the higher-level communication logic needed for nearly every type of customer engagement, as well as enable developers to embed voice, messaging, video, and email capabilities into their applications. The company was incorporated in 2008 and is headquartered in San Francisco, California. Show more

Price Returns Compared

Expand for Detailed View

 202020212022202320242025Total [1]
Returns
TWLO Return244%-22%-81%55%42%-4%4%
Peers Return74%23%-41%48%-12%18%92%
S&P 500 Return16%27%-19%24%23%12%104%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: VRSN, MDB, OKTA, AKAM, MSFT. See TWLO Returns vs. Peers.
[3] 2025 data is for the year up to 9/17/2025 (YTD)

Better Bets than Twilio (TWLO)

 TWLOBetter Performance than TWLO
MetricValueIndustry (Systems Software)
Rev Chg LTM11.6%MSFT (14.9%), NOW (21.1%), PANW (14.9%), CRWD (23.5%), NET (27.8%)
Rev Chg 3Y Avg11.8%MSFT (12.5%), NOW (22.3%), PANW (18.9%), CRWD (33.5%), NET (34.5%)
Op Mgn LTM1.5%MSFT (45.6%), NOW (13.3%), PANW (13.5%), FTNT (30.9%), CRWV (6.3%)
CFO/Rev LTM16.5%MSFT (48.3%), NOW (39.0%), PANW (40.3%), CRWD (32.0%), NET (25.6%)
FCF/Rev LTM15.3%MSFT (25.4%), NOW (31.6%), PANW (37.6%), CRWD (23.9%), FTNT (32.1%)
Total Yield0.1%MSFT (3.3%), NOW (0.8%), PANW (0.8%), FTNT (3.2%), AFRM (0.2%)
 TWLOBetter Performance than TWLO
MetricValueAll Other Sectors
Rev Chg LTM11.6%GOOGL (13.1%), META (19.4%), LLY (36.8%), MA (13.1%), NFLX (14.8%)
Rev Chg 3Y Avg11.8%META (13.0%), TSLA (12.9%), BRK-B (16.6%), JPM (13.5%), LLY (23.4%)
Op Mgn LTM1.5%GOOGL (32.7%), AMZN (11.4%), META (42.9%), TSLA (6.2%), WMT (4.2%)
CFO/Rev LTM16.5%GOOGL (36.0%), AMZN (18.1%), META (56.4%), TSLA (17.0%), LLY (20.5%)
FCF/Rev LTM15.3%GOOGL (18.0%), META (30.7%), V (56.8%), MA (49.2%), NFLX (20.4%)
Total Yield0.1%GOOGL (4.1%), AMZN (2.9%), META (3.7%), TSLA (0.4%), BRK-B (5.9%)

Latest Trefis Analyses

TitleTopicDate
0DASHBOARDS  
1Twilio Earnings Notes  
2Will You Be Comfortable Buying Twilio Stock?Return 
3Is The 20.5% Decline In Twilio (TWLO) Stock A Dip Buying Opportunity?Actionable 
4How Does TWLO Stack Up Against Its Peers?Peer Comparison 
5Is The 25.6% Decline In Twilio (TWLO) Stock A Dip Buying Opportunity?Actionable 
6TWLO Dip Buy Analysis  
7Twilio vs. NiSource: With Return Forecast Of 40%, Twilio Is A Better BetPeer Comparison 
8Twilio vs. Jabil: With Return Forecast Of 40%, Twilio Is A Better BetPeer Comparison 
9Twilio vs. PulteGroup: With Return Forecast Of 40%, Twilio Is A Better BetPeer Comparison 
10Twilio vs. MongoDB: With Return Forecast Of 71%, MongoDB Is A Better BetPeer Comparison 
11ARTICLES  
12TWLO Down 17% In A Month. How Confident Are You In The Stock? September 6th, 2025
13TWLO Down 17% In A Month. How Confident Are You In The Stock? September 6th, 2025
14TWLO Shares Tumbled 20%, Opportunity Or Trap? August 25th, 2025
15TWLO Dropped 20% In A Month. Have You Fully Evaluated The Risk? August 25th, 2025
16TWLO Shares Tumbled 24%, Opportunity Or Trap? August 15th, 2025
Title
0DASHBOARDS
1TWLO Down 17% In A Month. How Confident Are You In The Stock?
2TWLO Down 17% In A Month. How Confident Are You In The Stock?
3TWLO Shares Tumbled 20%, Opportunity Or Trap?
4TWLO Dropped 20% In A Month. Have You Fully Evaluated The Risk?
5TWLO Shares Tumbled 24%, Opportunity Or Trap?
6ARTICLES
7Twilio Earnings Notes
8Will You Be Comfortable Buying Twilio Stock?
9Is The 20.5% Decline In Twilio (TWLO) Stock A Dip Buying Opportunity?
10How Does TWLO Stack Up Against Its Peers?
11Is The 25.6% Decline In Twilio (TWLO) Stock A Dip Buying Opportunity?
12TWLO Dip Buy Analysis
13Twilio vs. NiSource: With Return Forecast Of 40%, Twilio Is A Better Bet
14Twilio vs. Jabil: With Return Forecast Of 40%, Twilio Is A Better Bet
15Twilio vs. PulteGroup: With Return Forecast Of 40%, Twilio Is A Better Bet
16Twilio vs. MongoDB: With Return Forecast Of 71%, MongoDB Is A Better Bet

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1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1ECDAECD Automotive Design3347.2%307.9%
2BDSXBiodesix1090.6%-79.7%
3CLSDClearside Biomedical987.7%-74.7%
4ATHAAthira Pharma892.1%544.3%
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#TickerCompany1W RtnYTD Rtn
1CURXCuranex Pharmaceuticals-80.5%148.4%
2ATYRaTyr Pharma-80.4%-71.7%
3NAKAKindly MD-70.2% 
4BNGOBionano Genomics-64.0%-89.8%
5XAGELongevity Health-57.6%-86.1%
6FAASDigiAsia-55.4%-88.0%
7ASSTStrive-54.5%650.3%
8VCIGVCI Global-51.0%-98.9%
9REXREX American Resources-50.7%44.3%
10RBNERobin Energy-42.6% 

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for Twilio

Financials

TWLOVRSNMDBOKTAAKAMMSFTMedian
NameTwilio VeriSign MongoDB Okta Akamai T.Microsoft 
Mkt Price103.53287.77315.3890.0075.84510.02195.65
Mkt Cap15.927.025.615.811.03,789.420.7
Rev LTM4,7291,5982,2182,7634,083281,7243,423
Op Inc LTM731,085-16583628128,528356
FCF LTM72495024083867971,611781
FCF 3Y Avg41487614556574868,386657
CFO LTM7819792708531,447136,162916
CFO 3Y Avg4759101585851,430114,097748

Growth & Margins

TWLOVRSNMDBOKTAAKAMMSFTMedian
NameTwilio VeriSign MongoDB Okta Akamai T.Microsoft 
Rev Chg LTM11.6%4.6%21.9%12.7%4.0%14.9%12.1%
Rev Chg 3Y Avg11.8%5.2%27.2%20.1%4.6%12.5%12.1%
Rev Chg Q13.5%5.9%23.7%12.7%6.5%18.1%13.1%
QoQ Delta Rev Chg LTM3.2%1.4%5.4%3.1%1.6%4.3%3.1%
Op Mgn LTM1.5%67.9%-7.5%3.0%15.4%45.6%9.2%
Op Mgn 3Y Avg-7.3%67.4%-13.8%-12.3%17.1%44.0%4.9%
QoQ Delta Op Mgn LTM1.2%-0.1%0.7%2.1%-0.1%0.4%0.5%
CFO/Rev LTM16.5%61.2%12.2%30.9%35.4%48.3%33.2%
CFO/Rev 3Y Avg10.5%59.5%8.0%23.2%36.7%46.0%30.0%
FCF/Rev LTM15.3%59.4%10.8%30.3%16.6%25.4%21.0%
FCF/Rev 3Y Avg9.1%57.2%7.3%22.4%19.3%27.9%20.8%

Valuation

TWLOVRSNMDBOKTAAKAMMSFTMedian
NameTwilio VeriSign MongoDB Okta Akamai T.Microsoft 
Mkt Cap15.927.025.615.811.03,789.420.7
P/S3.416.911.55.72.713.58.6
P/EBIT218.724.3-350.581.018.730.127.2
P/E783.633.8-325.294.025.937.235.5
P/CFO20.327.694.718.57.627.823.9
Total Yield0.1%3.0%-0.3%1.1%3.9%3.3%2.0%
Dividend Yield0.0%0.0%0.0%0.0%0.0%0.6%0.0%
FCF Yield 3Y Avg3.2%3.9%0.8%3.6%5.8%2.2%3.4%
D/E0.10.10.00.10.50.00.1
Net D/E-0.10.0-0.1-0.10.4-0.0-0.0

Returns

TWLOVRSNMDBOKTAAKAMMSFTMedian
NameTwilio VeriSign MongoDB Okta Akamai T.Microsoft 
1M Rtn-1.4%7.5%38.9%-1.5%0.7%-1.4%-0.3%
3M Rtn-11.3%2.6%54.5%-9.1%-3.6%6.4%-0.5%
6M Rtn0.5%19.5%65.9%-21.1%-8.0%32.0%10.0%
12M Rtn72.3%58.3%10.0%21.3%-22.5%18.1%19.7%
3Y Rtn40.1%65.3%43.0%52.5%-13.0%113.6%47.7%
1M Excs Rtn-3.8%5.2%36.6%-3.9%-1.6%-3.7%-2.7%
3M Excs Rtn-21.3%-8.7%43.1%-19.1%-13.9%-3.5%-11.3%
6M Excs Rtn-13.3%3.1%49.6%-37.9%-25.1%15.9%-5.1%
12M Excs Rtn56.8%41.0%-8.6%4.2%-40.3%2.0%3.1%
3Y Excs Rtn-23.7%-7.5%-47.3%-21.7%-79.1%35.5%-22.7%

Comparison Analyses

Financials

$ Mil | FY: 12/312025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q22023Q12022Q42022Q3
Period End6/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/20236/30/20233/31/202312/31/20229/30/2022
Filing Date8/8/20255/2/20252/26/202510/31/20248/1/20245/8/20242/27/202411/9/20238/9/20235/10/20232/27/202311/4/2022
Key Financials Quarterly            
Total Revenue1,2281,1721,1951,1341,0831,0471,0761,0341,0381,0071,025983
Ebitda87736350331015-30-43-49-143-217
Operating Income372314-1-19-44-50-102-118-120-214-287
Net Income2220-12-10-32-55-365-142-166-342-229-482
EPS0.150.13-0.08-0.06-0.19-0.31-2.01-0.78-0.91-1.84-1.24-2.63
Key Financials TTM            
Total Revenue TTM4,7294,5834,4584,3394,2394,1944,1544,1034,0523,9583,8263,644
Ebitda TTM27321915610829-47-106-264-451-651-752-824
Operating Income TTM7317-50-114-215-313-390-555-739-934-1,031-1,100
Net Income TTM20-34-109-462-594-729-1,015-879-1,220-1,377-1,256-1,318
Growth Rates Quarterly            
Total Revenue Growth13.5%12.0%11.0%9.7%4.3%4.0%5.0%5.2%10.0%15.0%21.6%32.8%
EBITDA Growth162.9%640.2%312.3%266.8%177.5%120.0%110.8%86.3%82.4%67.3%33.4%-33.7%
Operating Income Growth294.3%153.1%127.3%98.8%83.8%63.9%76.7%64.3%62.3%44.7%24.4%-23.4%
Net Income Growth170.4%136.2%96.6%93.1%80.8%83.8%-59.3%70.6%48.5%-54.4%21.3%-115.2%
Margins Quarterly            
EBITDA Margin7.1%6.2%5.3%4.4%3.1%0.9%1.4%-2.9%-4.1%-4.9%-14.0%-22.0%
Operating Income Margin3.0%2.0%1.1%-0.1%-1.8%-4.2%-4.7%-9.9%-11.3%-12.0%-20.9%-29.2%
Net Income Margin1.8%1.7%-1.0%-0.9%-2.9%-5.3%-34.0%-13.7%-16.0%-34.0%-22.4%-49.1%
Cash & Debt            
Total Cash2,5432,4482,3842,6983,1163,8274,0123,8573,6843,9454,1554,209
Total Debt1,1031,1011,1101,1261,1451,1611,1601,1941,2121,2331,2391,253
Net Debt / (Cash)-1,440-1,347-1,274-1,572-1,971-2,666-2,852-2,663-2,472-2,713-2,916-2,956
Cash Flows Quarterly            
FCF from Operations27719110820421319022320684-98-58-116
Cash Flows TTM            
FCF from Operations TTM781717716830832703415134-188-335-254-234
Returns to Shareholders Quarterly            
Dividends000000000000
Share Repurchases19712642064191735712064370115-0-0
Return on Invested Capital (ROIC) Quarterly            
ROIC0.7%0.5%0.4%-0.0%-0.6%-1.4%-1.7%-3.4%-4.0%-4.2%-7.8%-10.7%
Return on Invested Capital (ROIC) TTM            
ROIC TTM0.2%0.1%-0.4%-0.8%-1.6%-2.6%-3.3%-4.7%-6.2%-8.2%-9.4%-10.3%

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Twilio Communications (Communications)3,8593,5502,6411,598 
Twilio Segment (Segment)295276201  
Other   65 
Software   98 
Single segment    1,134
Total4,1543,8262,8421,7621,134


Operating Income by Segment
$ Mil20242023202220212020
Twilio Communications (Communications)842319   
Acquisition and divestiture related expenses-6-3   
Payroll taxes related to stock-based compensation-13-24   
Charitable contributions-17-10   
Loss on net assets divested-32    
Twilio Segment (Segment)-72-30   
Restructuring costs-166-77   
Amortization of acquired intangibles-192-206   
Corporate costs not allocated to segments-237-293   
Impairment of long-lived assets-321-98   
Stock-based compensation-663-784   
Total-877-1,205   


Price Behavior

TWLO Betas & Captures as of 8/31/2025

 1M2M3M6M1Y3Y
Beta2.021.631.541.521.381.50
Up Beta1.751.101.661.371.281.47
Down Beta2.213.072.061.721.521.57
Up Capture26%55%61%144%222%353%
Bmk +ve Days10223571142415
Stock +ve Days8182964135386
Down Capture406%239%214%148%113%107%
Bmk -ve Days11192754106334
Stock -ve Days13233361113362

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

Short Interest

Short Interest: As Of Date8292025
Short Interest: Shares Quantity9,593,912
Short Interest: % Change Since 815202531.0%
Average Daily Volume5,352,311
Days-to-Cover Short Interest1.79
Basic Shares Quantity153,228,766
Short % of Basic Shares6.3%

Returns Analyses

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/7/2025-19.4%-17.6%-10.9%
5/1/20252.3%7.5%22.2%
1/23/202520.1%30.8%4.1%
10/30/202414.3%28.0%48.1%
8/1/202411.7%7.7%11.5%
5/7/2024-7.5%-1.8%-9.5%
2/14/2024-15.4%-21.8%-17.4%
11/8/20230.3%11.4%26.5%
...
SUMMARY STATS   
# Positive1089
# Negative141615
Median Positive5.0%14.5%14.5%
Median Negative-9.9%-12.3%-14.1%
Max Positive39.6%53.1%60.7%
Max Negative-34.6%-22.4%-34.4%

SEC Filings

Expand for More

Report DateFiling DateFiling
6302025808202510-Q 6/30/2025
3312025502202510-Q 3/31/2025
12312024226202510-K 12/31/2024
93020241031202410-Q 9/30/2024
6302024801202410-Q 6/30/2024
3312024508202410-Q 3/31/2024
12312023227202410-K 12/31/2023
93020231109202310-Q 9/30/2023
6302023809202310-Q 6/30/2023
3312023510202310-Q 3/31/2023
12312022227202310-K 12/31/2022
93020221104202210-Q 9/30/2022
6302022805202210-Q 6/30/2022
3312022505202210-Q 3/31/2022
12312021222202210-K 12/31/2021
93020211028202110-Q 9/30/2021

Insider Activity

Expand for More

 OwnerTitleFiling DateActionPriceSharesTransacted
Value		Value of
Held Shares		Form
0Viggiano AidanChief Financial Officer8192025Sell104.9650152,58315,462,401Form
1Viggiano AidanChief Financial Officer7022025Sell124.337,964990,13719,409,869Form
2Shipchandler KhozemaChief Executive Officer7022025Sell124.5113,0081,619,58233,315,601Form
3ROTTENBERG ERIKA 6042025Sell120.034,100492,1184,019,524Form
4Viggiano AidanChief Financial Officer5222025Sell115.862,156249,79419,010,772Form

Industry Resources

External Quote Links


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