UiPath, Inc. (NYSE: PATH)

Sector: Technology Industry: Software - Infrastructure CIK: 0001734722
Market Cap 8.92 Bn
P/B 4.64
P/E 38.86
P/S 5.75
ROIC (Qtr) 4.37
Div Yield % 0.00
Rev 1y % (Qtr) 15.92
Total Debt (Qtr) 72.02 Mn
Debt/Equity (Qtr) 0.04

About

UiPath, Inc., often recognized by its stock symbol UIP, operates in the realm of artificial intelligence (AI) and robotic process automation (RPA) software. The company's primary business activities encompass building and managing automations, developing computer vision technology, and expanding its global footprint. UiPath's mission is to enable automation across all knowledge work to accelerate human achievement, a goal that is reflected in its responsive and adaptable platform. UiPath's platform is built to address the diverse challenges faced...

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Price action

Investment thesis

Bull case

  • Strong operating cash flow of 334.94M provides robust 4.65x coverage of total debt 72.02M, indicating excellent debt servicing capability and financial flexibility.
  • Strong tangible asset base of 2.75B provides 38.24x coverage of total debt 72.02M, indicating robust asset backing and low credit risk.
  • Robust free cash flow of 311.55M exceeds capital expenditure of 23.39M by 13.32x, indicating strong organic growth funding capability.
  • Long-term investments of 121.61M provide solid 1.69x coverage of long-term debt 72.02M, indicating strategic financial planning.
  • Cash reserves of 744.10M provide robust 0.94x coverage of current liabilities 788.70M, indicating strong short-term solvency.

Bear case

  • Investment activities of 3.49M provide weak support for R&D spending of 389.72M, which is 0.01x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • Cash reserves of 744.10M provide limited coverage of acquisition spending of (24.82M), which is -29.98x, suggesting aggressive expansion might strain liquidity if market conditions deteriorate.
  • Operating cash flow of 334.94M provides insufficient coverage of deferred revenue obligations of 633.15M, which is 0.53x, raising concerns about future service delivery capabilities.
  • The company's operating cash flow of 334.94M shows concerning coverage of stock compensation expenses of 313.47M, with a 1.07 ratio indicating potential earnings quality issues.
  • Operating cash flow of 334.94M provides minimal -2.01x coverage of tax expenses of (166.85M), suggesting potential tax planning inefficiencies or unsustainable tax positions.

Geographical Breakdown of Revenue (2025)

Product and Service Breakdown of Revenue (2025)

Peer comparison

Companies in the Software - Infrastructure
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 MSFT Microsoft Corp 3,563.59 Bn 33.97 12.13 60.56 Bn
2 ORCL Oracle Corp 561.87 Bn 36.43 9.21 124.39 Bn
3 PLTR Palantir Technologies Inc. 413.65 Bn 377.64 106.17 0.24 Bn
4 PANW Palo Alto Networks Inc 126.45 Bn 113.19 13.23 0.35 Bn
5 CRWD CrowdStrike Holdings, Inc. 116.42 Bn -370.56 25.50 0.82 Bn
6 SNPS Synopsys Inc 86.06 Bn 64.60 12.20 14.29 Bn
7 NET Cloudflare, Inc. 62.78 Bn -609.27 31.18 3.50 Bn
8 FTNT Fortinet, Inc. 60.83 Bn 32.47 9.28 1.00 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 2.89 2.69
EV to Cash from Ops. EV/CFO 24.98 28.91
EV to Debt EV to Debt 116.19 19.83
EV to EBIT EV/EBIT 133.21 -9.95
EV to EBITDA EV/EBITDA 197.65 6.82
EV to Free Cash Flow [EV/FCF] EV/FCF 26.86 26.09
EV to Market Cap EV to Market Cap 0.94 0.36
EV to Revenue EV/Rev 5.39 -9.34
Price to Book Value [P/B] P/B 4.64 3.88
Price to Earnings [P/E] P/E 38.86 -10.66
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 -0.30
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 2.71
Dividend per Basic Share Div per Share (Qtr) 0.00 0.10
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 1.68
Interest Coverage Interest Coverage 0.00 -14.20
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) -106.70 -408.01
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) -3.87 226.39
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 -0.28
EBIAT Growth (1y) % EBIAT 1y % (Qtr) 350.80 25.27
EBITDA Growth (1y) % EBITDA 1y % (Qtr) 129.02 47.48
EBIT Growth (1y) % EBIT 1y % (Qtr) 165.35 20.13
EBT Growth (1y) % EBT 1y % (Qtr) 165.35 14.16
EPS Growth (1y) % EPS 1y % (Qtr) 362.50 67.50
FCF Growth (1y) % FCF 1y % (Qtr) 0.90 296.60
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) 9.87 46.75
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.54 0.67
Cash Payout Ratio Cash Payout (Qtr) 0.00 0.01
Cash Ratio Cash Ratio (Qtr) 0.94 1.22
Current Ratio Curr Ratio (Qtr) 2.65 2.59
Debt to Equity Ratio Debt/Equity (Qtr) 0.04 -0.96
Interest Cover Ratio Interest Cover Ratio 0.00 -14.20
Times Interest Earned Times Interest Earned 0.00 -14.20
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) 6.10 -548.16
EBIT Margin % EBIT Margin % (Qtr) 4.04 -199.84
EBT Margin % EBT Margin % (Qtr) 4.04 -607.20
Gross Margin % Gross Margin % (Qtr) 83.20 51.88
Net Profit Margin % Net Margin % (Qtr) 14.80 -610.00