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Expensify, Inc. EXFY Return on invested capital

Return on invested capital at other companies

BILL Holdings logo
BILL HoldingsBILL
-2.6%+0.2pp
Corpay logo
CorpayCPAY
14.2%+0.2pp
WEX logo
WEXWEX
9.3%-1.8pp
BlackLine logo
BlackLineBL
10.8%+1.0pp
Global Payments logo
Global PaymentsGPN
3.6%-0.9pp
Global Business Travel Group logo
Global Business Travel GroupGBTG
3.3%-0.5pp

Other financials

Income statement

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Revenue$34.0M-5.8%
Gross profit$16.2M-11.4%
Operating income-$2.0M-32.6%
Net income-$2.3M+26.3%
EPS (diluted)-$0.02+33.3%

Balance sheet

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Cash & equivalents$109.6M+13.8%
Total debt$678.0K-18.2%
Total equity$138.5M+2.9%
Total assets$190.6M+0.7%

Cash flow

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Operating cash flow$118.0K-98.5%
CapEx$182.0K+4.6%
Free cash flow-$64.0K-101%

Valuation

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Market cap$172.62M-24.4%
P/S1.2×-0.3×

Profitability

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Gross margin49.6%-2.8pp
Operating margin-13.2%
Net margin-14.7%-86.5pp
FCF margin8.8%-11.0pp

Returns & leverage

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Return on equity-15.1%+177pp
Debt / equity0.0×
Current ratio3.5×+0.2×

Where this comes from

Calculated from Expensify, Inc.’s reported figures.

Based on trailing twelve months.

The official record: Expensify, Inc.’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Expensify, Inc.'s return on invested capital?
Expensify, Inc. (EXFY) reported return on invested capital of -53.8% in Q4 2025.
How has Expensify, Inc.'s return on invested capital changed year-over-year?
Expensify, Inc.'s return on invested capital decreased by 901.1% year-over-year, from -5.4% to -53.8%.
What is the long-term trend for Expensify, Inc.'s return on invested capital?
Over 3 years (2022 to 2025), Expensify, Inc.'s return on invested capital has grown at a -47.4% compound annual growth rate (CAGR), from -369.1% to -53.8%.
What does return on invested capital mean?
Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.