What are Duolingo's profit margins?

Duolingo (DUOL) runs a 72.7% gross margin and a 14.2% operating margin, with a 38.4% net margin.

Where do Duolingo's ratios come from?

Every ratio is computed from Duolingo's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Duolingo DUOL Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY

Simplified Detailed

	FY'25	FY'24	FY'23	FY'22
Profitability
Gross margin	72.2%-0.5pp	72.8%-0.5pp	73.2%+0.2pp	73.1%+0.7pp
Operating margin	13.1%+4.7pp	8.4%—	——	-17.6%+6.3pp
Net margin	39.9%+28.1pp	11.8%+8.8pp	3%+19.1pp	-16.1%+2.6pp
EBITDA margin	14.5%+4.6pp	9.8%+9.0pp	0.8%+17.1pp	-16.3%+6.5pp
Free cash flow margin	35.6%-0.9pp	36.5%+8.2pp	28.3%+15.3pp	13%—
Returns
Return on equity	38.1%+26.2pp	12%+9.3pp	2.7%+14.0pp	-11.3%—
Return on assets	25.1%+17.3pp	7.9%+6.0pp	1.9%+10.3pp	-8.5%+2.7pp
Return on invested capital	12.9%+5.4pp	7.5%—	——	——
Efficiency
Asset turnover	0.6×0.0×	0.7×0.0×	0.6×+0.1×	0.5×-0.1×
Liquidity
Current ratio	2.6×0.0×	2.6×-0.6×	3.2×-0.6×	3.8×-1.4×
Quick ratio	2.6×0.0×	2.6×-0.6×	3.2×-0.6×	3.8×-1.4×
Cash ratio	0.3×+0.1×	0.2×0.0×	0.2×-3.2×	3.3×-1.3×
Leverage
Debt-to-equity	0.1×0.0×	0.1×0.0×	0×0.0×	0.1×0.0×
Debt-to-assets	0.1×0.0×	0×0.0×	0×0.0×	0×0.0×
Net debt / EBITDA	-0.4×-0.1×	-0.2×+5.9×	-6.1×—	——
Valuation
Market capitalization	$8.11B-43.1%	$14.26B+47.8%	$9.65B+236%	$2.87B-29.9%
Enterprise value	$8.06B-43.4%	$14.24B+48.1%	$9.62B+320%	$2.29B-35.9%
Price / earnings	19.6×-141×	161×-439×	600.4×—	——
Price / sales	7.8×-11.2×	19.1×+0.9×	18.2×+10.4×	7.8×-8.6×
Price / book	6×-11.3×	17.3×+2.6×	14.7×+9.4×	5.3×-2.7×
EV / EBITDA	53.7×-140×	193.9×-2,111×	2,305.1×—	——
EV / sales	7.8×-11.3×	19×+0.9×	18.1×+11.9×	6.2×-8.0×
Free cash flow yield	4.6%+2.6pp	1.9%+0.4pp	1.6%-0.1pp	1.7%—
Earnings yield	5.1%+4.5pp	0.6%+0.5pp	0.2%+2.2pp	-2.1%-0.9pp
PEG ratio	0.1×-0.3×	0.4×—	——	——

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Questions, answered.

What are Duolingo's profit margins?: Duolingo (DUOL) runs a 72.7% gross margin and a 14.2% operating margin, with a 38.4% net margin.
Where do Duolingo's ratios come from?: Every ratio is computed from Duolingo's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.