Duolingo
DUOL
151.72
+3.59
+2.42%
Duolingo
US · DUOL
#1820 by market cap
Listed 2021
151.72
+3.59
+2.42%
Live - 5344 symbols - heartbeat 344s ago
· 2026-10-08 08:29
Pre-market
151.00
-0.47%
After-hours
151.50
-0.15%
Overnight
150.78
-0.62%
- Market cap
- 7.10B
- P/E (TTM)i
- 17.93
- P/Bi
- 5.04
- EPSi
- 8.57
- Div yieldi
- 0.00%
- 52W posi
- 25%
Reader sentiment
Are you bullish or bearish on DUOL?
Anonymous reader poll. Unscientific, not investment advice.
✦ Quant Financial Health how this is computed
Good
- Altman Z-Score is 8.08, above the 3.0 "safe zone" threshold.
- Most reliable for industrial/manufacturing companies; less meaningful for banks, insurers and other financials.
Revenue annual, last 7 years
Latest year +38.71% YoY
Margins
- Gross margin
- 72.23%
- Operating margin
- 13.07%
- Net margin
- 39.91%
Key ratios & quality
- Altman Z-Scorei
- 8.08
Altman Z-Score below ~1.8 suggests financial distress risk, above ~3.0 suggests low risk; the model is most reliable for industrial/manufacturing companies and less meaningful for banks and other financial firms.
Income statement
| Line item | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | 70.76M | 161.70M | 250.77M | 369.50M | 531.11M | 748.02M | 1.04B |
| Gross profit | 50.02M | 115.71M | 181.59M | 270.06M | 389.00M | 544.38M | 749.46M |
| Selling & admin expenses | 31.36M | 78.70M | 137.76M | 184.82M | 207.91M | 246.49M | 307.56M |
| Research & development | 31.56M | 53.02M | 103.83M | 150.44M | 194.35M | 235.30M | 306.32M |
| Operating profit | -12.90M | -16.01M | -60.01M | -65.20M | -13.26M | 62.60M | 135.57M |
| Pretax profit | -13.55M | -15.71M | -59.96M | -58.64M | 17.78M | 102.31M | 182.41M |
| Tax | 0 | 68.00K | 177.00K | 938.00K | 1.71M | 13.73M | -231.66M |
| Net profit | -13.55M | -15.78M | -60.14M | -59.57M | 16.07M | 88.57M | 414.07M |
| Basic EPS | 0 | 0 | -3 | -2 | 0 | 2 | 9 |
| Diluted EPS | -0.43 | -0.49 | -2.57 | -1.51 | 0.35 | 1.88 | 8.57 |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Revenue | 230.74M | 252.27M | 271.71M | 282.87M | 291.97M | 298.45M |
| Gross profit | 164.10M | 182.58M | 196.91M | 205.87M | 213.10M | 216.74M |
| Selling & admin expenses | 70.11M | 75.55M | 79.05M | 82.86M | 85.60M | 90.60M |
| Research & development | 70.39M | 73.67M | 82.71M | 79.56M | 82.97M | 92.20M |
| Operating profit | 23.59M | 33.36M | 35.16M | 43.45M | 44.53M | 33.95M |
| Pretax profit | 35.01M | 46.45M | 46.45M | 54.50M | 55.55M | 45.37M |
| Tax | -125.00K | 1.67M | -245.75M | 12.55M | 12.09M | 12.21M |
| Net profit | 35.14M | 44.78M | 292.20M | 41.95M | 43.46M | 33.16M |
| Basic EPS | 1 | 1 | 6 | 1 | 1 | 1 |
| Diluted EPS | 0.72 | 0.91 | 5.95 | 0.90 | 0.89 | 0.66 |
Balance sheet
| Line item | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Total current assets | 78.92M | 158.38M | 619.27M | 697.18M | 897.80M | 1.10B | 1.44B |
| Cash & ST investments | 59.84M | 120.49M | 553.92M | 608.18M | 747.61M | 877.65M | 1.14B |
| Inventory | -- | -- | -- | -- | -- | -- | -- |
| Total assets | 173.98M | 334.12M | 661.31M | 747.35M | 953.96M | 1.30B | 1.99B |
| Total current liabilities | 32.11M | 65.69M | 119.13M | 181.77M | 277.36M | 422.23M | 551.15M |
| Short-term debt | 974.00K | 1.11M | 3.34M | 4.90M | -- | -- | -- |
| Long-term debt | -- | -- | -- | -- | -- | -- | -- |
| Total liabilities | 257,958,000.00 | 414,810,000.00 | 148,255,000.00 | 205,269,000.00 | 298,456,000.00 | 477,178,000.00 | 645,176,000.00 |
| Total equity | -83.98M | -80.69M | 513.06M | 542.08M | 655.50M | 824.55M | 1.35B |
| Retained earnings | -95.00M | -110.78M | -170.91M | -230.49M | -214.42M | -125.85M | 288.22M |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Total current assets | 1.22B | 1.32B | 1.37B | 1.44B | 1.51B | 1.57B |
| Cash & ST investments | 999.28M | 1.10B | 1.12B | 1.14B | 1.25B | 1.31B |
| Inventory | -- | -- | -- | -- | -- | -- |
| Total assets | 1.40B | 1.54B | 1.89B | 1.99B | 2.06B | 2.07B |
| Total current liabilities | 454.49M | 471.38M | 484.54M | 551.15M | 574.11M | 577.83M |
| Short-term debt | -- | -- | -- | -- | -- | -- |
| Long-term debt | -- | -- | -- | -- | -- | -- |
| Total liabilities | 509,320,000.00 | 565,528,000.00 | 578,099,000.00 | 645,176,000.00 | 666,230,000.00 | 664,211,000.00 |
| Total equity | 893.83M | 977.03M | 1.31B | 1.35B | 1.39B | 1.41B |
| Retained earnings | -90.71M | -45.93M | 246.26M | 288.22M | 331.68M | 364.84M |
Cash flow
| Line item | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 2.15M | 17.71M | 9.17M | 53.66M | 153.61M | 285.51M | 387.82M |
| Depreciation & amortization | 1.25M | 2.26M | 2.73M | 4.87M | 7.10M | 10.85M | 14.39M |
| Free cash flow | -3.09M | 13.69M | 2.96M | 43.53M | 139.93M | 264.37M | 360.42M |
| Dividends paid | -- | -- | -- | -- | -- | -- | -- |
| Stock buybacks / issuance | -168.00K | 0 | 425.32M | -- | -- | -- | -- |
| Ending cash balance | 59.84M | 120.49M | 553.92M | 608.18M | 750.35M | 788.53M | 1.04B |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Operating cash flow | 105.63M | 90.68M | 84.24M | 107.28M | 150.77M | 88.26M |
| Depreciation & amortization | 3.59M | 3.44M | 3.55M | 3.81M | 4.19M | 4.25M |
| Free cash flow | 103.01M | 86.32M | 77.36M | 93.73M | 147.79M | 78.63M |
| Dividends paid | -- | -- | -- | -- | -- | -- |
| Stock buybacks / issuance | 0 | 0 | -- | -- | -24.33M | -45.27M |
| Ending cash balance | 886.73M | 978.97M | 1.01B | 1.04B | 1.14B | 1.18B |
Returns & efficiency
| Line item | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| ROE %i | -- | -- | -27.82 | -11.29 | 2.68 | 11.97 | 38.14 |
| ROA %i | -7.79 | -8.51 | -7.45 | -5.88 | 1.89 | 7.85 | 25.14 |
| ROIC %i | -- | -- | -25.37 | -11.70 | -1.92 | 6.63 | 32.62 |
| 5-year avg ROE %i | -- | -- | -- | -- | -- | -- | 2.74 |
| EBIT margin %i | -18.23 | -9.90 | -23.93 | -17.64 | -2.50 | 8.37 | 13.07 |
| FCF / sales %i | -- | 8.47 | 1.18 | 11.78 | 26.35 | 35.34 | 34.74 |
| Current ratioi | 2.46 | 2.41 | 5.20 | 3.84 | 3.24 | 2.61 | 2.61 |
| Quick ratioi | 2.18 | 2.15 | 4.93 | 3.60 | 3.02 | 2.38 | 2.39 |
| Debt / assetsi | 5.87 | 2.77 | 4.91 | 3.80 | 2.21 | 4.20 | 4.71 |
| LT debt / equityi | -- | -- | 5.68 | 4.34 | 3.22 | 6.63 | 6.96 |
| Interest coveragei | -- | -- | -- | -- | -- | -- | -- |
| Revenue CAGR (3Y) %i | -- | -- | -- | 73.49 | 48.65 | 43.95 | 41.08 |
| Net income CAGR (3Y) %i | -- | -- | -- | -- | -- | -- | -- |
| FCF CAGR (3Y) %i | -- | -- | -- | -- | 117.00 | 346.80 | 102.30 |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| ROE %i | 12.06 | 13.44 | 36.25 | 38.14 | 36.96 | 34.42 |
| ROA %i | 7.83 | 8.74 | 24.86 | 25.14 | 24.41 | 22.72 |
| ROIC %i | 6.93 | 8.19 | 30.82 | 32.62 | 32.44 | 29.81 |
| 5-year avg ROE %i | -- | -- | -- | -- | -- | -- |
| EBIT margin %i | 8.60 | 9.54 | 10.99 | 13.07 | 14.24 | 13.72 |
| FCF / sales %i | 35.61 | 36.32 | 36.05 | 34.74 | 36.88 | 34.72 |
| Current ratioi | 2.68 | 2.81 | 2.82 | 2.61 | 2.62 | 2.72 |
| Quick ratioi | 2.45 | 2.57 | 2.59 | 2.39 | 2.41 | 2.51 |
| Debt / assetsi | 3.89 | 6.08 | 4.95 | 4.71 | 4.46 | 4.15 |
| LT debt / equityi | 6.10 | 9.60 | 7.13 | 6.96 | 6.60 | 6.11 |
| Interest coveragei | -- | -- | -- | -- | -- | -- |
| Revenue CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| Net income CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| FCF CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
✦ Quant Revenue Concentration how this is computed
Single-engine
- Subscription is the largest reported line at 86.46% of revenue, across 5 reported segments.
- The next-largest line, Advertising, is a distant second at 7.05% - a sharp slowdown here would have little to offset it.
Revenue breakdown most recent period
Business
Subscription86.46%
Advertising7.05%
Duolingo English Test3.39%
In-App Purchases (IAPs)2.68%
Other0.42%
Quote time 2026-10-08 08:29:27 · For reference only, not investment advice and not tailored to your situation.