Duolingo Ratios (2020-2025) | DUOL

Ratios Jun2020 Sep2020 Dec2020 Mar2021 Jun2021 Sep2021 Dec2021 Mar2022 Jun2022 Sep2022 Dec2022 Mar2023 Jun2023 Sep2023 Dec2023 Mar2024 Jun2024 Sep2024 Dec2024 Mar2025 Jun2025 Sep2025
Profitability
Gross Margin 70.49%71.08%73.35%72.87%72.56%71.57%72.67%73.54%72.99%72.62%73.25%72.77%73.36%73.66%73.13%73.03%73.45%72.91%71.88%71.12%72.38%72.47%
EBT Margin 0.13%-6.96%-21.51%-24.30%-0.30%-45.47%-23.84%-14.93%-16.86%-19.15%-12.73%-2.33%1.90%2.13%10.02%15.43%16.10%13.18%10.67%15.17%18.41%17.09%
EBIT Margin 0.20%-6.77%-21.90%-24.23%-0.81%-45.13%-23.85%-14.59%-17.01%-20.99%-17.48%-7.37%-3.84%-3.39%3.18%9.81%10.49%7.05%6.62%10.23%13.23%12.94%
EBITDA Margin 0.10%-7.01%-21.56%-24.34%-0.30%-45.55%-23.99%-14.96%-17.02%-19.20%-13.42%-2.23%2.94%2.04%8.03%16.09%13.66%12.13%6.64%15.23%17.75%107.54%
Operating Margin 0.20%-6.77%-21.90%-24.23%-0.81%-45.13%-23.85%-14.59%-17.01%-20.99%-17.48%-7.37%-3.84%-3.39%3.18%9.81%10.49%7.05%6.62%10.23%13.23%12.94%
Net Margin 0.10%-7.01%-21.56%-24.34%-0.30%-45.55%-23.99%-14.96%-17.02%-19.20%-13.42%-2.23%2.94%2.04%8.03%16.09%13.66%12.13%6.64%15.23%17.75%107.54%
FCF Margin 1.07%5.93%7.56%-3.29%5.39%-0.12%23.76%12.22%6.95%10.90%25.01%28.65%26.81%31.97%49.00%31.87%27.57%38.84%45.21%35.47%29.21%
Efficiency
Assets Average 399.74M639.54M672.91M692.78M707.37M730.52M768.86M812.59M852.76M912.34M1,011.31M1,104.06M1,179.50M1,260.64M1,352.44M1,472.85M1,714.10M
Equity Average 208.48M511.89M516.88M524.47M531.02M537.95M553.63M580.80M605.61M635.16M683.28M739.00M794.70M823.50M859.19M935.43M1,142.29M
Invested Capital -80.69M-93.78M510.73M513.06M520.71M528.22M533.83M542.08M565.19M596.40M614.82M655.50M711.05M766.94M822.45M824.55M893.83M977.03M1,307.54M
Asset Utilization Ratio 0.570.390.410.440.480.510.530.540.570.580.580.570.580.590.600.600.56
Leverage & Solvency
Equity Ratio -0.46-0.520.830.780.760.750.750.730.720.710.710.690.670.670.670.630.640.630.69
Valuation
Enterprise Value -120.49M-114.64M-549.44M-553.92M-577.33M-591.16M-599.97M-608.18M-641.09M-678.66M-701.74M-747.61M-829.71M-888.24M-880.76M-877.64M-999.28M-1097.88M-1121.45M
Return Ratios
Return on Sales 0.00%-0.07%-0.22%-0.24%0.00%-0.46%-0.24%-0.15%-0.17%-0.19%-0.13%-0.02%0.03%0.02%0.08%0.16%0.14%0.12%0.07%0.15%0.18%1.08%
Return on Capital Employed -0.18%-0.12%-0.11%-0.13%-0.12%-0.12%-0.11%-0.09%-0.06%-0.02%0.02%0.04%0.06%0.07%0.08%0.08%0.09%
Return on Invested Capital -0.26%-0.12%-0.11%-0.14%-0.12%-0.12%-0.11%-0.09%-0.06%-0.02%0.02%0.04%0.06%0.07%0.07%0.08%0.24%
Return on Assets -0.13%-0.09%-0.09%-0.11%-0.09%-0.08%-0.07%-0.04%-0.01%0.02%0.05%0.06%0.07%0.07%0.07%0.08%0.23%
Return on Equity -0.25%-0.12%-0.11%-0.14%-0.12%-0.11%-0.09%-0.05%-0.02%0.03%0.07%0.09%0.11%0.11%0.11%0.13%0.34%