Datadog, Inc.

NasdaqGS-DDOG

Trailing Valuation

Trailing Valuation	LTM	Dec '24	Dec '23	Dec '22	Dec '21
Stock Price	153	142.9	121.4	73.5	178.1
Total Shares Outstanding	350.7	342.1	331.1	319.2	313.4
Market Cap	53,638.6	48,885.4	40,186.5	23,460.5	55,813.5
Total Enterprise Value (TEV)	50,777.6	46,538.5	38,505.9	21,674.8	54,331.3
Buyback Yield	-0%	-0.1%	-0.1%	-0.2%	-0.1%
Debt Paydown Yield	1.6%	-1.6%	—	0%	—
Shareholder Yield	1.5%	-1.7%	-0.1%	-0.2%	-0.1%
P/S	16.7	18.2	18.9	14	54.3
P/Gross Profit	20.9	22.5	23.4	17.7	70.2
P/E	493.4	274.8	867	-459.4	-2,544.4
Earnings Yield	0.2%	0.4%	0.1%	-0.2%	-0%
P/OCF	54.3	56.2	60.9	56.1	194.8
P/FCF	57.1	58.5	63.5	61.2	201.8
FCF Yield	1.8%	1.7%	1.6%	1.6%	0.5%
P/B	15.6	18	19.8	16.6	53.6
EV/Sales	15.8	17.3	18.1	12.9	52.8
EV/Gross Profit	19.8	21.5	22.4	16.3	68.4
EV/EBITDA	4,838.7	426.1	3,500.2	-900.6	14,365.8
EV/EBIT	-1,145.3	857.3	-1,150.7	-369.3	-2,836.3
EV/OCF	51.4	53.5	58.3	51.8	189.6
EV/FCF	54	55.7	60.9	56.6	196.4

Margins

Margins	LTM	Dec '24	Dec '23	Dec '22	Dec '21
Gross Profit Margin	79.9%	80.8%	80.7%	79.3%	77.2%
Operating Margin	-1.4%	2%	-1.6%	-3.5%	-1.9%
EBITDA Margin	0.3%	4.1%	0.5%	-1.4%	0.4%
Net Profit Margin	3.3%	6.8%	2.3%	-3%	-2%
Effective Tax Rate	16.2%	9.9%	19.4%	-31.8%	-12.6%
Pre-Tax Profit Margin	4%	7.6%	2.8%	-2.3%	-1.8%
Free Cash Flow Margin	29.3%	31.1%	29.7%	22.9%	26.9%
OCF / Sales	30.8%	32.4%	31%	25%	27.9%
OCF / Net Income	925.6%	473.8%	1,358.8%	-834.1%	-1,381.3%
FCF / OCF	95.1%	96%	95.8%	91.6%	96.5%
FCF / Net Income	880.3%	454.9%	1,302%	-763.8%	-1,333.3%
FCF / EBITDA	8,956%	765.3%	5,748.3%	-1,592.1%	7,313.3%

Capital Efficiency

Capital Efficiency	LTM	Dec '24	Dec '23	Dec '22	Dec '21
Return on Invested Capital	-1.7%	2.4%	-1.9%	-7.3%	-3.3%
Return on Assets	-0.6%	1%	-0.8%	-2.9%	-1%
Return on Equity	3.5%	7.8%	2.8%	-4.1%	-2.1%
Return on Total Capital	-2.9%	3.6%	-5.4%	-90.5%	-30.8%
Return on Capital Employed	-0.9%	1.6%	-1.3%	-2.9%	-1.1%
Return on Tangible Assets	1.9%	4.1%	1.6%	-2.1%	-1.1%
Receivables Turnover	5.6	4.8	4.7	5	4.8
Days Sales Outstanding	65.3	75.3	77.9	72.8	76.7
Payables Turnover	5.3	5.3	7.4	14.2	10.1
Days Payables Outstanding	68.8	69.2	49.5	25.7	36.3
Cash Conversion Cycle	-3.6	6.2	28.4	47.2	40.4
Asset Turnover	0.5	0.6	0.6	0.6	0.5
Fixed Asset Turnover	6.9	7.7	8.3	9.6	8.5
Operating Cycle	65.3	75.3	77.9	72.8	76.7
CapEx to OCF	0	0	0	0.1	0
CapEx to Revenue	0	0	0	0	0
CapEx to Depreciation	0.9	0.6	0.6	1	0.4

Financial Health

Financial Health	LTM	Dec '24	Dec '23	Dec '22	Dec '21
Total Debt	1,279.3	1,842.2	902.3	98.7	72.3
Net Debt	-2,861	-2,346.9	-1,680.6	-1,785.7	-1,482.2
Current Ratio	3.7	2.6	3.2	3.1	3.5
Quick Ratio	3.6	2.6	3.1	3	3.4
Cash Ratio	3.1	2.2	2.6	2.5	2.9
Debt Ratio	0.2	0.3	0.2	0	0
Assets to Equity	1.8	2.1	1.9	2.1	2.3
Cash Flow to Debt Ratio	0.8	0.5	0.7	4.2	4
Long-term Debt to Assets	0.2	0.2	0.2	0	0
Intangibles to Total Assets	0.1	0.1	0.1	0.1	0.1
Net Current Asset Value	2,224.8	1,840.1	1,267.4	749.9	531.4
Goodwill / Assets	0.1	0.1	0.1	0.1	0.1
Debt / Equity	0.4	0.7	0.4	0.1	0.1
Total Debt / Capitalization	1	1	1	1	1
Long Term Debt / Capitalization	1	0.6	1	0.8	0.7
Long-Term Debt / Equity	0.4	0.4	0.4	0.1	0.1
Net Debt / EBITDA	-272.6	-21.5	-152.8	74.2	-391.9
EBIT / Interest Expense	-4	7.7	-5.3	-3.5	-0.9
EBITDA / Interest Expense	0.9	15.5	1.7	-1.5	0.2
(EBITDA - Capex) / Interest Expense	-3.4	10.5	-2.6	-3.6	-0.3

Per Share	LTM	Dec '24	Dec '23	Dec '22	Dec '21
Revenue per Share	8.9	7.5	6.1	5.3	3.3
Basic EPS	0.3	0.6	0.2	-0.2	-0.1
Diluted EPS	0.3	0.5	0.1	-0.2	-0.1
Book Value per Share	9.5	7.6	5.8	4.5	3.4
Tangible Book Value per Share	8	6.6	4.7	3.3	2.4
Cash per Share	11.5	11.7	7.4	6	5
Operating Cash Flow per Share	2.7	2.4	1.9	1.3	0.9
Free Cash Flow per Share	2.6	2.3	1.8	1.2	0.9
CapEx per Share	0.1	0.1	0.1	0.1	0
Weighted Avg. Shares Outstanding	344.6	336.2	324	315.4	309
Weighted Avg. Shares Outstanding Diluted	361.2	358.6	350.3	315.4	309

Common Size

Common Size	LTM	Dec '24	Dec '23	Dec '22	Dec '21
R&D to Revenue	45%	42.9%	45.2%	44.9%	40.8%
SG&A to Revenue	36.3%	35.8%	37.1%	37.9%	38.3%
Stock-based Comp to Revenue	21.9%	21.2%	22.7%	21.7%	15.9%