CoreWeave, Inc. Class A Common Stock (CRWV) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-2438.2%

-$1,220.32

vs $52.19 price

Levered DCF

-$458.27

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

0.1

Distress zone

Rating

D+

Overall 1 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022
P/E	-26.04×	-19.8×	-27.21×	-520.16×
P/B	9.34×	-21.08×	-12.87×	0×
P/S	6.07×	4.55×	33.54×	459.23×
EV / EBITDA	23.11×	37.46×	-22.16×	0×
Gross margin	71.7%	74.3%	69.9%	23.4%
Operating margin	-0.9%	16.9%	-6.1%	-144.5%
Net margin	-22.7%	-45.1%	-259.4%	-196.2%
Current ratio	0.46×	0.39×	0.5×	0×
Debt / equity	8.94×	-25.68×	-3.35×	0×
Interest coverage	-0.04×	0.9×	-0.5×	-2.42×
Dividend yield	0.1%	0.7%	0.0%	0.0%
Payout ratio	-2.5%	-6.7%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022
Return on equity	-35.0%	208.7%	99.6%	0.0%
Return on invested capital	-0.1%	2.1%	-0.3%	0.0%
Return on assets	-2.4%	-4.8%	-11.9%	0.0%
Free cash flow yield	-23.3%	-68.3%	-14.5%	-1.0%
Earnings yield	-3.7%	-9.9%	-7.7%	-0.4%
Enterprise value	$57B	$18B	$9.5B	$0
Net debt / EBITDA	10.48×	19.29×	-4.17×	0×
Cash conversion cycle (days)	-182	-562	-2,118	0