monday.com Ltd.

NasdaqGS-MNDY

Trailing Valuation

Trailing Valuation	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19
Stock Price	154.5	235.4	187.8	122	308.7	—	—
Total Shares Outstanding	51.6	50.8	48.9	47.7	44.9	12.4	11.8
Market Cap	7,966.2	11,954.1	9,188.4	5,824	13,868.9	—	—
Total Enterprise Value (TEV)	6,346.5	10,598.5	8,133.4	5,015.8	12,982.1	—	—
Buyback Yield	-0.5%	-0.4%	-0.2%	-0.2%	-5.3%	—	—
Debt Paydown Yield	—	—	—	0%	0.2%	—	—
Shareholder Yield	-0.5%	-0.4%	-0.2%	-0.2%	-5.2%	—	—
P/S	6.8	12.3	12.6	11.2	45	—	—
P/Gross Profit	7.7	13.8	14.2	12.9	51.5	—	—
P/E	—	379.7	-4,695.3	-40.8	-68.2	—	—
Earnings Yield	—	0.3%	-0%	-2.5%	-1.5%	—	—
P/OCF	22.7	38.4	42.7	214.6	848	—	—
P/FCF	23.9	40.1	44.3	523	2,903.3	—	—
FCF Yield	4.2%	2.5%	2.3%	0.2%	0%	—	—
P/B	6.3	11.6	11.3	8.6	19.7	—	—
EV/Sales	5.4	10.9	11.1	9.7	42.1	—	—
EV/Gross Profit	6.1	12.2	12.5	11.1	48.2	—	—
EV/EBITDA	337.5	-1,155	-275.1	-35	-105.2	—	—
EV/EBIT	1,161.7	-503.9	-210.8	-33	-102.9	—	—
EV/OCF	18.1	34.1	37.8	184.8	793.8	—	—
EV/FCF	19	35.6	39.2	450.5	2,717.6	—	—

Margins

Margins	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19
Gross Profit Margin	89.2%	89.3%	88.9%	87.2%	87.3%	86%	84.7%
Operating Margin	0.5%	-2.2%	-5.3%	-29.3%	-40.9%	-93.4%	-118.5%
EBITDA Margin	1.6%	-0.9%	-4.1%	-27.6%	-40%	-92.3%	-117.7%
Net Profit Margin	5.6%	3.3%	-0.3%	-26.4%	-42%	-94.5%	-117.3%
Effective Tax Rate	1.2%	6.1%	156.4%	-5.7%	-1.8%	-1.5%	-0.8%
Pre-Tax Profit Margin	5.6%	3.5%	0.5%	-24.9%	-41.2%	-93.1%	-116.4%
Free Cash Flow Margin	28.6%	30.6%	28.4%	2.1%	1.6%	-25.8%	-48.7%
OCF / Sales	30.1%	32%	29.5%	5.2%	5.3%	-23.1%	-46.9%
OCF / Net Income	539%	960.9%	-11,476%	-19.8%	-12.6%	24.4%	40%
FCF / OCF	95.2%	95.8%	96.3%	41%	29.2%	111.7%	103.8%
FCF / Net Income	512.9%	920.1%	-11,055%	-8.1%	-3.7%	27.3%	41.5%
FCF / EBITDA	1,774.4%	-3,246%	-701.9%	-7.8%	-3.9%	27.9%	41.4%

Capital Efficiency

Capital Efficiency	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19
Return on Invested Capital	0.9%	-4.3%	6.1%	-66.1%	-100.5%	-191.7%	-161.1%
Return on Assets	0.3%	-1.3%	1.9%	-16.3%	-23.6%	-89.2%	-50.3%
Return on Equity	5.7%	3.5%	-0.3%	-19.8%	-35.9%	-256.2%	-89.1%
Return on Total Capital	4.5%	-23.6%	31.4%	-413.6%	-100.9%	-61%	-37.8%
Return on Capital Employed	0.4%	-2.1%	-4.8%	-21%	-34.9%	-248.1%	-88.6%
Return on Tangible Assets	3.2%	2.2%	-0.2%	-13.9%	-23.7%	-88.9%	-49.5%
Receivables Turnover	39.9	44.5	46.9	47.8	49.6	43.8	22.7
Days Sales Outstanding	9.2	8.2	7.8	7.6	7.4	8.3	16.1
Payables Turnover	3.1	3.4	5	4.3	1.6	1	0.6
Days Payables Outstanding	117	106.4	72.8	84.9	230.8	362.6	577.5
Cash Conversion Cycle	-107.9	-98.2	-65	-77.3	-223.5	-354.3	-561.4
Asset Turnover	0.6	0.7	0.6	0.5	0.6	0.9	0.4
Fixed Asset Turnover	8.1	8.2	6.8	7.7	23	31.1	24.4
Operating Cycle	9.2	8.2	7.8	7.6	7.4	8.3	16.1
CapEx to OCF	0	0	0	0.6	0.7	-0.1	-0
CapEx to Revenue	0	0	0	0	0	0	0
CapEx to Depreciation	1.3	1.1	0.9	1.9	4.2	2.3	2.4

Financial Health

Financial Health	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19
Total Debt	119.3	106	61.1	77.7	—	21	13
Net Debt	-1,619.7	-1,355.6	-1,055	-808.2	-886.8	-118.8	-162.6
Current Ratio	2.7	2.7	2.8	3.1	4	1.1	2.2
Quick Ratio	2.5	2.6	2.7	3	3.9	1	2.2
Cash Ratio	2.5	2.5	2.7	3	3.9	1	2.2
Debt Ratio	0.1	0.1	0	0.1	—	0.1	0.1
Assets to Equity	1.6	1.6	1.6	1.5	1.3	9.9	1.8
Cash Flow to Debt Ratio	2.9	2.9	3.5	0.3	—	-1.8	-2.8
Long-term Debt to Assets	0	0	0	0.1	—	—	—
Net Current Asset Value	1,069.5	877	711	564.5	683.7	-227.4	-134.5
Debt / Equity	0.1	0.1	0.1	0.1	—	1.3	0.1
Total Debt / Capitalization	1	1	1	1	—	0.1	0.1
Long Term Debt / Capitalization	0.8	0.7	0.7	0.8	—	—	—
Long-Term Debt / Equity	0.1	0.1	0.1	0.1	—	—	—
Net Debt / EBITDA	-86.1	147.7	35.7	5.6	7.2	0.8	1.8
EBIT / Interest Expense	—	—	—	—	—	—	-120.3
EBITDA / Interest Expense	—	—	—	—	—	—	-119.6
(EBITDA - Capex) / Interest Expense	—	—	—	—	—	—	-121.4

Per Share	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19
Revenue per Share	—	18.5	15.1	11.3	10.2	13.4	6.9
Basic EPS	—	0.7	-0	-3	-4.5	-14.2	-9.2
Diluted EPS	—	0.6	-0	-3	-4.5	-14.2	-9.2
Book Value per Share	—	19.7	16.8	14.8	23.2	-18.1	-11.5
Tangible Book Value per Share	—	19.7	16.8	14.8	23.2	-18.1	-11.5
Cash per Share	—	27.9	23.1	19.3	29.2	11.6	15.5
Operating Cash Flow per Share	—	5.9	4.5	0.6	0.5	-3.1	-3.2
Free Cash Flow per Share	—	5.7	4.3	0.2	0.2	-3.4	-3.4
CapEx per Share	—	0.3	0.2	0.3	0.4	0.4	0.1
Weighted Avg. Shares Outstanding	—	49.9	48.4	45.8	30.3	12	11.3
Weighted Avg. Shares Outstanding Diluted	—	52.4	48.4	45.8	30.3	12	11.3

Common Size

Common Size	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19
R&D to Revenue	25.6%	22%	21.4%	24.5%	23.9%	27%	31.5%
SG&A to Revenue	63.1%	69.5%	72.8%	92%	104.4%	152.5%	171.6%
Stock-based Comp to Revenue	14.4%	13.3%	13.7%	20.2%	23.9%	39.9%	28%