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Duolingo DUOL EV / EBITDA

Other financials

Income statement

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Revenue$292.0M+26.5%
Gross profit$213.1M+29.9%
Operating income$44.5M+88.7%
Net income$43.5M+23.7%
EPS (diluted)$0.89+23.6%

Balance sheet

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Cash & equivalents$171.2M+113%
Total debt$91.9M+68.5%
Total equity$1.4B+55.7%
Total assets$2.1B+46.7%

Cash flow

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Operating cash flow$150.8M+42.7%
CapEx$132.0K-89.9%
Free cash flow$150.6M+44.4%

Valuation

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Market cap$5.85B-67.1%
Enterprise value$5.77B-67.6%
P/E13.9×-170×
P/S5.3×-16.6×

Profitability

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Gross margin72.7%+0.4pp
Operating margin14.2%+5.6pp
Net margin38.4%+26.5pp
FCF margin37.9%+1.4pp

Returns & leverage

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Return on equity37%+24.9pp
Debt / equity0.1×0.0×
Current ratio2.6×-0.1×

Where this comes from

Calculated from Duolingo’s reported figures.

enterprise value/ebitda=26.5×

Based on the most recent quarter.

The official record: Duolingo’s 10-Q, filed May 5, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Duolingo's EV / EBITDA?
Duolingo (DUOL) reported EV / EBITDA of 26.5× in Q1 2026.
How has Duolingo's EV / EBITDA changed year-over-year?
Duolingo's EV / EBITDA decreased by 84.5% year-over-year, from 170.8× to 26.5×.
What is the long-term trend for Duolingo's EV / EBITDA?
Over 2 years (2023 to 2025), Duolingo's EV / EBITDA has grown at a -84.7% compound annual growth rate (CAGR), from 2,305.1× to 53.7×.
What does EV / EBITDA mean?
Enterprise value (market cap plus total debt minus cash) at the quarter end divided by trailing-twelve-month EBITDA. A capital-structure-neutral valuation multiple.