FROG Stock Analysis: Jfrog | NASDAQ
Software - Application | NASDAQ, USA | Market Cap: 10.724m USD | 12M Return: 115.6% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 227M
EPS Trend: 41.0%
Qual. Beats: 1
Rev. Trend: 100.0%
Qual. Beats: 6
Warnings
No concerns identified
Tailwinds
Seasonality 5.8 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
JFrog Ltd. (NASDAQ: FROG) is a Sunnyvale, California-based software company founded in 2008 that provides a software supply chain platform serving customers in the United States, Israel, India, and other international markets. The company went public on September 16, 2020, and is classified within the Information Technology sector under Systems Software, with a large-cap market capitalization of approximately $10.0 billion.
The core of JFrogs business is JFrog Artifactory, a package repository used to store and manage software packages, supplemented by security and governance products such as JFrog Curation, JFrog Xray, JFrog Advanced Security, and JFrog Runtime Security. The company has extended its platform into adjacent areas including machine learning operations through JFrog ML, AI governance via the JFrog AI Catalog, IoT device management through JFrog Connect, and software distribution with JFrog Distribution and JFrog AppTrust.
JFrog sells primarily through a subscription model, with tiered offerings including JFrog Pro, Pro X, Enterprise X, and Enterprise Plus, the latter providing cluster configuration, federated repositories, multi-region replication, and enterprise-grade SLA support. Its customer base spans technology, financial services, retail, healthcare, and telecommunications organizations, reflecting the broad applicability of DevOps and DevSecOps tooling across regulated and data-intensive industries.
- Enterprise cloud subscription revenue growth drives ARR expansion
- JFrog Advanced Security and AI Catalog adoption accelerates platform expansion
- Competition from GitHub and GitLab pressures deal sizing and pricing
| Net Income: -61.6m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.11 > 0.02 and ΔFCF/TA 0.71 > 1.0 |
| NWC/Revenue: 85.48% < 20% (prev 80.56%; Δ 4.93% < -1%) |
| CFO/TA 0.11 > 3% & CFO 155.3m > Net Income -61.6m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 2.20 > 1.5 & < 3 |
| Outstanding Shares: last quarter (120.2m) vs 12m ago 5.92% < -2% |
| Gross Margin: 77.48% > 18% (prev 76.06%; Δ 1.42% > 0.5%) |
| Asset Turnover: 44.55% > 50% (prev 38.97%; Δ 5.58% > 0%) |
| Interest Coverage Ratio: error (cannot be calculated; needs correct EBIT TTM and Interest Expense TTM) |
| A: 0.35 (Total Current Assets 881.8m - Total Current Liabilities 400.2m) / Total Assets 1.37b |
| B: -0.32 (Retained Earnings -439.8m / Total Assets 1.37b) |
| C: -0.04 (EBIT TTM -54.8m / Avg Total Assets 1.26b) |
| D: 2.06 (Book Value of Equity 924.0m / Total Liabilities 449.2m) |
| Altman-Z'' = 3.13 = A |
| DSRI: 1.08 (Receivables 113.7m/84.3m, Revenue 563.4m/450.6m) |
| GMI: 0.98 (GM 76.06% / 77.48%) |
| AQI: 0.87 (AQ_t 0.34 / AQ_t-1 0.39) |
| SGI: 1.25 (Revenue 563.4m / 450.6m) |
| TATA: -0.16 (NI -61.6m - CFO 155.3m) / TA 1.37b) |
| Beneish M = -2.89 (Cap -4..+1) = A |
As of July 21, 2026, the stock is trading at USD 90.43 with a total of 1,833,732 shares traded. Over the past week, the price has changed by -1.73%, over one month by +13.19%, over three months by +98.49% and over the past year by +115.57%.
Current recommended Stop Loss: 78.30 (which is 13.4% or 2.3 ATR below the current price).
Jfrog has received a consensus analysts rating of 4.45. Therefore, it is recommended to buy FROG.
- StrongBuy: 12
- Buy: 5
- Hold: 3
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 87.9 | -2.8% |
P/E Forward = 93.4579
P/S = 19.034
P/B = 11.606
Revenue TTM = 563.4m USD
EBIT TTM = -54.8m USD
EBITDA TTM = -31.5m USD
Long Term Debt = 11.2m USD (estimated: total debt 16.4m - short term 5.22m)
Short Term Debt = 5.22m USD (from shortTermDebt, last quarter)
Debt = 16.4m USD (from shortLongTermDebtTotal, last quarter) (leases 16.4m already included)
Net Debt = -725.5m USD (calculated: Debt 16.4m - CCE 742.0m)
Enterprise Value = 10.00b USD (10.7b + Debt 16.4m - CCE 742.0m)
Interest Coverage Ratio = unknown (Ebit TTM -54.8m / Interest Expense TTM 0.0)
EV/FCF = 66.04x (Enterprise Value 10.00b / FCF TTM 151.4m)
FCF Yield = 1.51% (FCF TTM 151.4m / Enterprise Value 10.00b)
FCF Margin = 26.87% (FCF TTM 151.4m / Revenue TTM 563.4m)
Net Margin = -10.93% (Net Income TTM -61.6m / Revenue TTM 563.4m)
Gross Margin = 77.48% ((Revenue TTM 563.4m - Cost of Revenue TTM 126.9m) / Revenue TTM)
Gross Margin QoQ = 78.18% (prev 77.86%)
Tobins Q-Ratio = 7.28 (Enterprise Value 10.00b / Total Assets 1.37b)
Interest Expense / Debt = 0.0% (Interest Expense 0.0 / Debt 16.4m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -43.3m (EBIT -54.8m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 2.20 (Total Current Assets 881.8m / Total Current Liabilities 400.2m)
Debt / Equity = 0.02 (Debt 16.4m / totalStockholderEquity, last quarter 924.0m)
Debt / EBITDA = 23.06 (negative EBITDA) (Net Debt -725.5m / EBITDA -31.5m)
Debt / FCF = -4.79 (Net Debt -725.5m / FCF TTM 151.4m)
Total Stockholder Equity = 874.3m (last 4 quarters mean from totalStockholderEquity)
RoA = -4.87% (Net Income -61.6m / Total Assets 1.37b)
RoE = -7.04% (Net Income TTM -61.6m / Total Stockholder Equity 874.3m)
RoCE = -6.19% (EBIT -54.8m / Capital Employed (Equity 874.3m + L.T.Debt 11.2m))
RoIC = -4.56% (negative operating profit) (NOPAT -43.3m / Invested Capital 950.1m)
WACC = 9.98% (E(10.7b)/V(10.7b) * Re(10.0%) + D(16.4m)/V(10.7b) * Rd(0.0%) * (1-Tc(0.21)))
Discount Rate = 10.0% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 99.56 | Cagr: 6.04%
[DCF] Terminal Value 72.87% ; FCFF base≈138.6m ; Y1≈158.8m ; Y5≈233.8m
[DCF] Fair Price = 28.53 (EV 2.73b - Net Debt -725.5m = Equity 3.46b / Shares 121.1m; r=9.98% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 41.03 | EPS CAGR: 15.72% | SUE: 1.75 | # QB: 1
Revenue Correlation: 99.96 | Revenue CAGR: 23.45% | SUE: 1.85 | # QB: 6
EPS current Quarter (2026-06-30): EPS=0.24 | Chg30d=-0.17% | Revisions=+25% | Analysts=22
EPS next Quarter (2026-09-30): EPS=0.22 | Chg30d=-0.05% | Revisions=+25% | Analysts=22
EPS current Year (2026-12-31): EPS=0.95 | Chg30d=+0.00% | Revisions=+25% | GrowthEPS=+16.3% | GrowthRev=+19.0%
EPS next Year (2027-12-31): EPS=1.12 | Chg30d=-0.18% | Revisions=+0% | GrowthEPS=+17.5% | GrowthRev=+17.5%
[Analyst] Revisions Ratio: +38% (up=4, down=1)