Duolingo Ratios and Metrics

Market cap in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Apr '26 Apr 9, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Market Cap	4,157	8,183	14,570	9,647	2,871	4,061
Market Cap Growth	-72.15%	-43.83%	51.03%	236.03%	-29.31%	-
Enterprise Value	3,236	7,137	13,747	8,921	2,286	3,536
Last Close Price	88.55	175.50	324.23	226.85	71.13	106.11
PE Ratio	10.33	20.48	172.46	648.14	-47.11	-41.29
Forward PE	30.59	44.78	122.92	-	-	-
PS Ratio	4.12	7.89	19.48	18.16	7.77	16.19
PB Ratio	3.15	6.08	17.67	14.72	5.30	7.92
P/TBV Ratio	3.18	6.29	18.52	16.10	5.18	4.85
P/FCF Ratio	11.56	22.13	53.29	64.13	59.69	727.26
P/OCF Ratio	11.02	21.10	51.03	62.80	53.51	442.86
EV/Sales Ratio	3.12	6.88	18.38	16.80	6.19	14.10
EV/EBITDA Ratio	20.79	47.59	187.16	-1447.19	-37.90	-61.73
EV/EBIT Ratio	22.91	52.64	219.61	-672.79	-35.07	-58.93
EV/FCF Ratio	8.75	19.30	50.28	59.30	47.54	633.28
Debt / Equity Ratio	0.07	0.07	0.07	0.03	0.04	0.06
Debt / EBITDA Ratio	0.63	0.63	0.74	-3.42	-0.39	-0.51
Debt / FCF Ratio	0.25	0.25	0.20	0.14	0.49	5.22
Net Debt / Equity Ratio	-0.78	-0.78	-1.00	-1.11	-1.08	-1.02
Net Debt / EBITDA Ratio	-6.98	-6.98	-11.20	117.86	9.69	9.16
Net Debt / FCF Ratio	-2.83	-2.83	-3.01	-4.83	-12.16	-93.98
Asset Turnover	0.63	0.63	0.66	0.62	0.52	0.60
Quick Ratio	2.39	2.39	2.38	3.02	3.60	4.93
Current Ratio	2.61	2.61	2.61	3.24	3.84	5.20
Return on Equity (ROE)	38.14%	38.14%	11.97%	2.68%	-11.29%	-19.56%
Return on Assets (ROA)	18.69%	18.69%	4.81%	-1.41%	-9.40%	-14.38%
Return on Invested Capital (ROIC)	52.19%	52.19%	19.34%	-8.12%	-65.37%	-91.84%
Return on Capital Employed (ROCE)	11.68%	11.68%	8.05%	-2.13%	-11.77%	-18.40%
Earnings Yield	9.69%	4.88%	0.58%	0.15%	-2.12%	-2.42%
FCF Yield	8.65%	4.52%	1.88%	1.56%	1.68%	0.14%
Buyback Yield / Dilution	-2.56%	-2.56%	-1.24%	-17.87%	-68.44%	-84.00%
Total Shareholder Return	-2.56%	-2.56%	-1.24%	-17.87%	-68.44%	-84.00%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q