| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 12 | — | 17.6x | Bottom tier | |
Growth | 90 | 115.3% | 7.1% | Top tier | |
Quality | 41 | -0.6% | 4.5% | Around median | |
Safety | 20 | 12.4x | 2.6x | Bottom tier | |
Capital Return | 3 | 0.00% | 2.15% | Bottom tier | |
Momentum | 40 | 3.1% | 2.3% | Around median | |
Sentiment | 37 | 16 | 3 | Bottom tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
CoreWeave operates a cloud platform purpose-built for artificial intelligence workloads and generates revenue by providing GPU-based compute infrastructure through long- and short-term contracts, in addition to managed inference, storage, CPU, networking, and software services. The platform spans model training, inference, evaluation, and continuous optimization, and includes tools such as Weights & Biases, CoreWeave ARIA, and CoreWeave Omni. In fiscal Q2 2026, annual recurring revenue from higher-margin services outside GPUs, including storage, networking, and software, exceeded $400 million, while annual recurring revenue from managed inference exceeded $100 million.
Fiscal Q2 2026 revenue reached approximately $2.6 billion, up 112% year over year and 24% sequentially, while gross profit based on EDGAR data reached approximately $1.7 billion, equivalent to a gross margin of about 65%. Adjusted EBITDA doubled to $1.5 billion at a 59% margin, while adjusted operating income reached $128 million at a 5% margin. Nevertheless, the company recorded a net loss of $626 million and a loss per share of $1.14, compared with a net loss of $290 million in fiscal Q2 2025.
The results reflect a significant gap between operating profitability and the bottom-line loss: interest expense reached $640 million in fiscal Q2 2026, compared with $267 million in the comparable quarter, as debt was used to finance rapid expansion. CoreWeave spent $9.4 billion in capital expenditures during the quarter, and construction in progress rose to $11.9 billion, while contracted revenue backlog reached $104.2 billion, up 246% year over year. More than 50% of this backlog was associated with contracts for which delivery had begun, and it does not include more than $25 billion in net customer commitments added in the first weeks of fiscal Q3 2026.
The average analyst target is $138.67, compared with a high target of $192 and a low target of $74, with the consensus rating classified as Buy; the average is below the 52-week range high of $153.20, while the highest target exceeds that high. No positive price-to-earnings ratio is available because CoreWeave recorded a net loss of $1.9 billion and a loss per share of approximately $3.50 over the trailing twelve months, so the valuation depends heavily on converting the $104.2 billion revenue backlog into revenue, margins, and cash flow. The wide target range from $74 to $192 highlights the divide between strong revenue growth and demand on one side, and debt, capital expenditure, and loss risks on the other.
Figures in the text are as of 2026-08-27; the live price is shown at the top of the page.
Fiscal Q2 2026 revenue reached approximately $2.6 billion, up 112% year over year and 24% sequentially. Growth came from expanding active power and converting backlog into revenue, with backlog reaching $104.2 billion. The company added more than $25 billion in net customer commitments during the first weeks of fiscal Q3 2026. Accordingly, it raised its fiscal 2026 revenue guidance to between $12.4 billion and $13.2 billion.
In fiscal Q2 2026, the company generated gross profit of $1.7 billion and adjusted EBITDA of $1.5 billion at a 59% margin. Adjusted operating income reached $128 million at a 5% margin, up from $21 million in fiscal Q1 2026. However, interest expense of $640 million contributed to a net loss of $626 million. Management expects the adjusted operating margin to expand sequentially and reach the low double digits in fiscal Q4 2026.
Booked annual recurring revenue for the managed inference platform rose from $1 million to more than $100 million within a few months of its launch. CoreWeave is targeting at least $250 million by the end of fiscal 2026. Grammarly and You.com use the platform to run coding agents and custom and open models in actual production traffic. Management also believes the platform enables older GPUs to be repurposed into higher-margin services after their original contracts expire.
Automated analysis for informational purposes only — not investment advice.
The company relies on a mix of debt, customer prepayments, and institutional capital to finance upfront capital expenditures. In fiscal Q2 2026, capital expenditures reached $9.4 billion, and the company raised approximately $18 billion through debt, convertible notes, and equity. Liquidity, including cash and cash equivalents, restricted cash, and marketable securities, exceeded $6.9 billion as of June 30, 2026. The company expects capital expenditures of between $35 billion and $39 billion during fiscal 2026, with interest expense between $860 million and $940 million in Q3.
CoreWeave ended fiscal Q2 2026 with 1.5 gigawatts of active power after adding nearly 500 megawatts during the quarter. Contracted power reached 4.2 gigawatts after quarter-end, in addition to more than 1.5 gigawatts of powered land, expansion options, and letters of intent. Management raised its fiscal 2026 year-end target to more than 1.85 gigawatts and is targeting at least eight gigawatts by 2030. However, execution requires securing power, GPUs, networking, memory, and permits, which management described as components of a complex supply chain.
The analyst consensus rates the stock as Buy, with an average target of $138.67. The target range spans $74 to $192, compared with a 52-week range of $60.55 to $153.20, and the average target is below the high of that range. A positive price-to-earnings ratio cannot be used because the trailing-twelve-month loss reached $1.9 billion and the loss per share approached $3.50. Therefore, the valuation depends on executing fiscal 2026 revenue guidance, improving margins, and the company’s ability to finance capital expenditures of up to $39 billion.
