What is NAVAN INC's earnings per share (EPS)?

NAVAN INC (NAVN) reported diluted earnings per share of $-4.07 for fiscal year 2026. This represents a -1.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

NAVAN INC Financials

NAVN

Source SEC Filings (10-K/10-Q) Updated Jan 31, 2026 Currency USD FYE January

This page shows NAVAN INC (NAVN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 3 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI NAVN FY2026 2026-04-22

Asset-light economics are improving, but gross-margin gains are being recycled into growth spending instead of becoming profit.

From FY2025 to FY2026, gross margin expanded from 68.4% to 71.3%, showing the service got cheaper to deliver. But free cash flow turned positive even as net loss deepened to -$398.0M, a combination that implies operations are converting to cash better than earnings suggest while most of the economic improvement is still being redeployed into growth spending rather than appearing as reported profit.

Capital intensity is minimal: capital spending was just $917K against $702.3M of FY2026 revenue. That makes this a light-infrastructure cash model; cash flow can improve through collections and expense control without any meaningful reduction in physical investment, because there is little asset base to maintain.

Liquidity looks comfortable because cash of $583.5M exceeds long-term debt of $124.8M. Yet the year’s balance-sheet strengthening was not funded mainly by operations, since financing inflow of $519.9M dwarfed operating cash flow of $33.7M, so the cleaner balance sheet reflects capital actions as much as operating progress.

Financial Health Signals

Financial Profile 45/100

Based on FY2026 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of NAVAN INC's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

NAVAN INC has an operating margin of -28.0%, meaning the company retains $-28 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -20.1% the prior year.

Growth

NAVAN INC's revenue surged 30.8% year-over-year to $702.3M, reflecting rapid business expansion. This strong growth earns a score of 87/100.

Leverage

100

NAVAN INC carries a low D/E ratio of 0.10, meaning only $0.10 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

With a current ratio of 4.07, NAVAN INC holds $4.07 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 80/100.

Cash Flow

NAVAN INC's free cash flow margin of 4.7% results in a low score of 3/100. Capital expenditures of $917K absorb a large share of operating cash flow.

Returns

NAVAN INC generates a -33.0% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100.

Piotroski F-Score Neutral

4/9

NAVAN INC passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Mixed

-0.08x

For every $1 of reported earnings, NAVAN INC generates $-0.08 in operating cash flow ($33.7M OCF vs -$398.0M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk

-3.8x

NAVAN INC earns $-3.8 in operating income for every $1 of interest expense (-$196.9M vs $51.3M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$702.3M

YoY+30.8%

NAVAN INC generated $702.3M in revenue in fiscal year 2026. This represents an increase of 30.8% from the prior year.

EBITDA

-$136.6M

YoY-65.1%

NAVAN INC's EBITDA was -$136.6M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 65.1% from the prior year.

Net Income

-$398.0M

YoY-119.8%

NAVAN INC reported -$398.0M in net income in fiscal year 2026. This represents a decrease of 119.8% from the prior year.

EPS (Diluted)

$-4.07

YoY-1.8%

NAVAN INC earned $-4.07 per diluted share (EPS) in fiscal year 2026. This represents a decrease of 1.8% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$32.8M

YoY+163.7%

NAVAN INC generated $32.8M in free cash flow in fiscal year 2026, representing cash available after capex. This represents an increase of 163.7% from the prior year.

Cash & Debt

$583.5M

YoY+0.0%

NAVAN INC held $583.5M in cash against $124.8M in long-term debt as of fiscal year 2026.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

71.3%

YoY+2.9pp

NAVAN INC's gross margin was 71.3% in fiscal year 2026, indicating the percentage of revenue retained after direct costs. This is up 2.9 percentage points from the prior year.

Operating Margin

-28.0%

YoY-8.0pp

NAVAN INC's operating margin was -28.0% in fiscal year 2026, reflecting core business profitability. This is down 8.0 percentage points from the prior year.

Net Margin

-56.7%

YoY-22.9pp

NAVAN INC's net profit margin was -56.7% in fiscal year 2026, showing the share of revenue converted to profit. This is down 22.9 percentage points from the prior year.

Return on Equity

-33.0%

NAVAN INC's ROE was -33.0% in fiscal year 2026, measuring profit generated per dollar of shareholder equity.

Capital Allocation

R&D Spending

$151.2M

YoY+23.6%

NAVAN INC invested $151.2M in research and development in fiscal year 2026. This represents an increase of 23.6% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$917K

YoY-7.7%

NAVAN INC invested $917K in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents a decrease of 7.7% from the prior year.

NAVN Income Statement

Metric	FY26	FY25	FY24
Revenue	$702.3M+30.8%	$536.8M+33.5%	$402.3M
Cost of Revenue	$201.8M+18.8%	$169.8M+4.4%	$162.6M
Gross Profit	$500.5M+36.4%	$367.0M+53.2%	$239.6M
R&D Expenses	$151.2M+23.6%	$122.4M-7.6%	$132.4M
SG&A Expenses	$203.4M+52.3%	$133.6M+0.4%	$133.0M
Operating Income	-$196.9M-82.9%	-$107.6M+56.3%	-$246.3M
Interest Expense	$51.3M-32.5%	$76.0M+20.1%	$63.3M
Income Tax	$2.1M-78.0%	$9.6M+76.3%	$5.4M
Net Income	-$398.0M-119.8%	-$181.1M+45.4%	-$331.6M
EPS (Diluted)	$-4.07-1.8%	$-4.00+46.2%	$-7.44

Metric	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25
Revenue	N/A	$194.9M	N/A	N/A	N/A	$151.1M	N/A	N/A
Cost of Revenue	N/A	$57.1M	N/A	N/A	N/A	$44.5M	N/A	N/A
Gross Profit	N/A	$137.9M	N/A	N/A	N/A	$106.6M	N/A	N/A
R&D Expenses	N/A	$51.2M	N/A	N/A	N/A	$33.0M	N/A	N/A
SG&A Expenses	N/A	$70.9M	N/A	N/A	N/A	$35.0M	N/A	N/A
Operating Income	N/A	-$79.2M	N/A	N/A	N/A	-$19.5M	N/A	N/A
Interest Expense	N/A	$15.5M	N/A	N/A	N/A	$19.7M	N/A	N/A
Income Tax	N/A	$3.5M	N/A	N/A	N/A	$5.2M	N/A	N/A
Net Income	N/A	-$225.4M-483.6%	-$38.6M+36.9%	-$61.3M	N/A	-$41.9M+2.4%	-$42.9M+13.5%	-$49.6M
EPS (Diluted)	N/A	$-4.58	N/A	N/A	N/A	$-0.92	N/A	N/A

NAVN Balance Sheet

Metric	FY26	FY25	FY24
Total Assets	$1.7B0.0%	$1.7B+57.6%	$1.1B
Current Assets	$1.3B0.0%	$1.3B+89.7%	$688.9M
Cash & Equivalents	$583.5M0.0%	$583.5M+270.1%	$157.7M
Inventory	N/A	N/A	N/A
Accounts Receivable	$215.9M0.0%	$215.9M+16.8%	$184.9M
Goodwill	$241.3M0.0%	$241.3M+9.8%	$219.7M
Total Liabilities	$500.7M-82.7%	$2.9B+31.8%	$2.2B
Current Liabilities	$320.9M0.0%	$320.9M-28.0%	$446.0M
Long-Term Debt	$124.8M0.0%	$124.8M-79.8%	$617.9M
Total Equity	$1.2B+201.4%	-$1.2B-6.7%	-$1.1B
Retained Earnings	-$2.0B0.0%	-$2.0B-24.6%	-$1.6B

Metric	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25
Total Assets	$1.7B-4.7%	$1.8B	N/A	N/A	$1.1B	N/A	N/A	N/A
Current Assets	$1.3B-5.2%	$1.4B	N/A	N/A	$688.9M	N/A	N/A	N/A
Cash & Equivalents	$583.5M-27.9%	$809.1M+160.5%	$310.6M	N/A	$157.7M-48.5%	$305.9M+14.4%	$267.4M	N/A
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$215.9M-1.9%	$220.0M	N/A	N/A	$184.9M	N/A	N/A	N/A
Goodwill	$241.3M+3.6%	$232.9M	N/A	N/A	$219.7M	N/A	N/A	N/A
Total Liabilities	$500.7M-12.7%	$573.8M	N/A	N/A	$2.3B	N/A	N/A	N/A
Current Liabilities	$320.9M+4.5%	$307.1M	N/A	N/A	$446.0M	N/A	N/A	N/A
Long-Term Debt	$124.8M-39.6%	$206.6M	N/A	N/A	$617.9M0.0%	$617.9M	N/A	N/A
Total Equity	$1.2B-0.9%	$1.2B+200.9%	-$1.2B-1.5%	-$1.2B-0.4%	-$1.2B-3.6%	-$1.1B-1.1%	-$1.1B-1.5%	-$1.1B
Retained Earnings	-$2.0B-3.7%	-$1.9B	N/A	N/A	-$1.6B	N/A	N/A	N/A

NAVN Cash Flow Statement

Metric	FY26	FY25	FY24
Operating Cash Flow	$33.7M+166.8%	-$50.4M+69.7%	-$166.4M
Capital Expenditures	$917K-7.7%	$994K+77.2%	$561K
Free Cash Flow	$32.8M+163.7%	-$51.4M+69.2%	-$166.9M
Investing Cash Flow	-$203.0M-552.5%	$44.9M+141.2%	-$108.8M
Financing Cash Flow	$519.9M+889.3%	$52.6M-75.3%	$212.6M
Dividends Paid	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A

Metric	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25
Operating Cash Flow	$35.0M	N/A	N/A	N/A	-$8.9M	N/A	N/A	N/A
Capital Expenditures	$328K	N/A	N/A	N/A	$220K	N/A	N/A	N/A
Free Cash Flow	$34.7M	N/A	N/A	N/A	-$9.2M	N/A	N/A	N/A
Investing Cash Flow	-$153.5M	N/A	N/A	N/A	$42.0M	N/A	N/A	N/A
Financing Cash Flow	-$110.7M	N/A	N/A	N/A	-$25.1M	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

NAVN Financial Ratios

Metric	FY26	FY25	FY24
Gross Margin	71.3%+2.9pp	68.4%+8.8pp	59.6%
Operating Margin	-28.0%-8.0pp	-20.1%+41.2pp	-61.2%
Net Margin	-56.7%-22.9pp	-33.7%+48.7pp	-82.4%
Return on Equity	-33.0%	N/A	N/A
Return on Assets	-23.3%-12.7pp	-10.6%+20.0pp	-30.6%
Current Ratio	4.070.0	4.07+2.5	1.54
Debt-to-Equity	0.10+0.2	-0.10+0.4	-0.55
FCF Margin	4.7%+14.2pp	-9.6%+31.9pp	-41.5%

Metric	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25
Gross Margin	N/A	70.7%	N/A	N/A	N/A	70.5%	N/A	N/A
Operating Margin	N/A	-40.6%	N/A	N/A	N/A	-12.9%	N/A	N/A
Net Margin	N/A	-115.6%	N/A	N/A	N/A	-27.7%	N/A	N/A
Return on Equity	N/A	-18.5%	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	-12.6%	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	4.07-0.4	4.49	N/A	N/A	1.54	N/A	N/A	N/A
Debt-to-Equity	0.10-0.1	0.17	N/A	N/A	-0.52+0.0	-0.54	N/A	N/A
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Frequently Asked Questions

What is NAVAN INC's annual revenue?

NAVAN INC (NAVN) reported $702.3M in total revenue for fiscal year 2026. This represents a 30.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is NAVAN INC's revenue growing?

NAVAN INC (NAVN) revenue grew by 30.8% year-over-year, from $536.8M to $702.3M in fiscal year 2026.

Is NAVAN INC profitable?

No, NAVAN INC (NAVN) reported a net income of -$398.0M in fiscal year 2026, with a net profit margin of -56.7%.

What is NAVAN INC's EBITDA?

NAVAN INC (NAVN) had EBITDA of -$136.6M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does NAVAN INC have?

As of fiscal year 2026, NAVAN INC (NAVN) had $583.5M in cash and equivalents against $124.8M in long-term debt.

What is NAVAN INC's gross margin?

NAVAN INC (NAVN) had a gross margin of 71.3% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.

What is NAVAN INC's operating margin?

NAVAN INC (NAVN) had an operating margin of -28.0% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.

What is NAVAN INC's net profit margin?

NAVAN INC (NAVN) had a net profit margin of -56.7% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.

What is NAVAN INC's return on equity (ROE)?

NAVAN INC (NAVN) has a return on equity of -33.0% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.

What is NAVAN INC's free cash flow?

NAVAN INC (NAVN) generated $32.8M in free cash flow during fiscal year 2026. This represents a 163.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is NAVAN INC's operating cash flow?

NAVAN INC (NAVN) generated $33.7M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.

What are NAVAN INC's total assets?

NAVAN INC (NAVN) had $1.7B in total assets as of fiscal year 2026, including both current and long-term assets.

What are NAVAN INC's capital expenditures?

NAVAN INC (NAVN) invested $917K in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.

How much does NAVAN INC spend on research and development?

NAVAN INC (NAVN) invested $151.2M in research and development during fiscal year 2026.

What is NAVAN INC's current ratio?

NAVAN INC (NAVN) had a current ratio of 4.07 as of fiscal year 2026, which is generally considered healthy.

What is NAVAN INC's debt-to-equity ratio?

NAVAN INC (NAVN) had a debt-to-equity ratio of 0.10 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is NAVAN INC's return on assets (ROA)?

NAVAN INC (NAVN) had a return on assets of -23.3% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.

What is NAVAN INC's Piotroski F-Score?

NAVAN INC (NAVN) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are NAVAN INC's earnings high quality?

NAVAN INC (NAVN) has an earnings quality ratio of -0.08x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can NAVAN INC cover its interest payments?

NAVAN INC (NAVN) has an interest coverage ratio of -3.8x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is NAVAN INC?

NAVAN INC (NAVN) scores 45 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.