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SaaS · IPO 2012 · FY ends Jan · Historical SBC from SEC EDGAR

Financials (2026)
Revenue
$9.6B
Revenue Growth YoY
13.1%
EBITDA
$958M
Net Income
$693M
Stock Price
—
Market Cap
—
Stock-Based Compensation (2026)
SBC Expense
$1.6B
SBC % of Revenue
17.0%
SBC % of EBITDA
169.7%
SBC % of Market Cap
—
Buybacks
$2.9B
Unrecognized SBC
—
SBC % of Revenue — Historical
SBC vs Buybacks ($M) — Historical
SBC % Revenue vs SBC % Market Cap
Revenue-based SBC % is the P&L view. Market-cap-based % is the shareholder dilution view — how much of the company is given away each year.
Market Cap vs Cumulative SBC
Total SBC expense paid since earliest data year vs current market cap. Shows the cumulative cost of stock-based compensation relative to company size.
GAAP vs "Adjusted" Earnings
GAAP net income already includes SBC as a real expense. But many companies highlight "adjusted" earnings that add SBC back, flattering profitability. The orange gap shows how much non-GAAP metrics overstate real earnings each year.
Ownership Retained Over Time
100 = your original ownership at the earliest data year. Net share issuance drives this down.
Annual Gross Dilution vs Buyback Offset
Red = gross share issuance from SBC. Green = shares retired via buybacks. Both as % of prior-year shares.
Year-by-Year Detail
Year SBC ($) Revenue ($) EBITDA ($) SBC % Rev SBC % EBITDA Rev Growth Buybacks ($) Net Income ($) Shares (EOY) Price (EOY) Market Cap SBC % MCap Unrecognized SBC ($)
2026 $1.6B $9.6B $958M 17.0% 169.7% 13.1% $2.9B $693M 270,000,000 — — — —
2025 $1.5B $8.4B $658M 18.0% 230.9% 16.4% $700M $526M 267,000,000 — — — —
2024 $1.4B $7.3B $386M 19.5% 366.8% 16.8% $423M $1.4B 262,000,000 — — — —
2023 $1.3B $6.2B $53M 20.8% 2443.4% 21.0% $75M $-367M 254,000,000 — — — —
2022 $1.1B $5.1B $147M 21.4% 749.0% 19.0% $0 $29M 245,000,000 — — — —
2021 $1.0B $4.3B $-18M 23.3% neg 290.4% $0 $-282M 235,000,000 — — — —
2020 $860M $1.1B $-301M 77.7% neg 17.9% — $-24M 229,000,000 — — — —
2019 $652M $938M $-316M 69.6% neg 26.2% — $-116M 222,000,000 — — — —
2018 $478M $743M $-188M 64.4% neg 33.8% — $-153M 212,000,000 — — — —
2017 $372M $555M $-261M 67.0% neg 34.3% — $-86M 203,000,000 — — — —
2016 $250M $414M $-179M 60.4% neg 35.5% — $-110M 195,000,000 — — — —
2015 $156M $305M $-170M 51.1% neg 41.9% — $-78M 189,000,000 — — — —
2014 $62M $215M $-124M 28.8% neg 68.2% — $-60M 184,000,000 — — — —
2013 $15M $128M $-102M 12.0% neg 76.1% — $-48M 166,000,000 — — — —
2012 $4M $73M $-70M 5.8% neg 99.2% — $-41M 36,000,000 — — — —
2011 $193K $36M $-5M 0.5% neg -46.4% — $-20M — — — — —
2010 IPO $2M $68M $-51M 2.5% neg — — $-56M — — — — —