One-glance verdict
Not enough data
Fair value unavailable
Not enough cash-flow history to value this one with our method.
Fundamentals snapshot
CoreWeave, Inc.
CRWV · NMS · Technology · Software - Infrastructure
Current price
$69.69
52-week range
$59.51 - $141.79
Market cap
$38.44B
Balance sheet
Distressed
-0.04x Concerning
Net debt $46.07B. Interest coverage shows how many times profit covers the interest bill.
What stands out
1 Reward
1 Risk
1 rewards · 1 risks
- Reward Revenue grew 47.9% last year.
- Risk Return on equity was -43.6% last year — the company lost money on shareholders' equity.
What this company does
CoreWeave, Inc.
CoreWeave provides specialized cloud computing power, mainly for companies building artificial intelligence (AI) and doing things like visual effects rendering. Their main money comes from renting out this powerful computing infrastructure to these businesses. This is important because the demand for AI is growing rapidly, and CoreWeave is positioned to benefit from it by offering the computing resources needed for these advanced tasks.
How the company got here
CoreWeave started in 2017, originally as Atlantic Crypto Corporation, and its name change to CoreWeave, Inc. in December 2019 marked a shift in focus. The company was founded with the goal of providing efficient and scalable cloud infrastructure. A key turning point was recognizing the growing demand for specialized computing power, particularly for graphics-intensive tasks like artificial intelligence (AI) and machine learning (ML). This led them to focus on building a cloud platform optimized for these workloads, differentiating themselves from more general-purpose cloud providers.
What it actually does
CoreWeave provides a specialized cloud computing platform designed for demanding tasks like artificial intelligence (AI) and machine learning (ML). Think of it like renting super-powered computers in a data center, but specifically built to handle the heavy lifting required for training AI models or rendering complex graphics. They offer access to powerful graphics processing units (GPUs) and other computing resources through their proprietary software, making it easier for companies to manage and scale these intensive operations without having to buy and maintain their own expensive hardware.
GPU Compute
This is CoreWeave's primary business, where they rent out access to powerful graphics processing units (GPUs). GPUs are specialized computer chips that are incredibly good at performing many calculations at once, making them ideal for tasks like training AI models, running complex simulations, and rendering high-quality graphics for visual effects or video games. Customers pay CoreWeave to use these GPUs on a pay-as-you-go basis, allowing them to access massive computing power without the huge upfront cost of buying the hardware themselves. This segment is the largest part of CoreWeave's business, as it's the core offering that attracts companies needing AI and ML capabilities.
CPU Compute
While GPUs are their specialty, CoreWeave also offers traditional central processing unit (CPU) compute services. CPUs are the general-purpose brains of a computer, handling a wide range of tasks. In CoreWeave's context, CPU compute is used for tasks that don't necessarily require the parallel processing power of GPUs, such as managing data, running certain software applications, or handling parts of a larger workflow. This segment complements their GPU offerings, providing a more complete computing solution for their clients. It represents a smaller portion of their overall business compared to GPU compute.
Data and Storage Solutions
To support the intensive computing needs of their clients, CoreWeave provides robust data and storage solutions. This includes services like Local Object Transport Accelerator (LOTA), which helps move large amounts of data quickly and efficiently. Reliable and fast storage is crucial when dealing with massive datasets for AI training or complex rendering projects. Customers use these services to store and access the data their applications need, ensuring smooth and uninterrupted operations. This is a supporting business line, essential for the core compute services but not the primary revenue driver.
Managed Services and Infrastructure Control
CoreWeave offers managed services and infrastructure control tools to simplify the management of their cloud resources. This includes services like a CoreWeave Kubernetes service, which helps automate the deployment and management of applications, and mission control services for managing the lifecycle of their computing nodes and fleets. Essentially, they help clients manage the complex IT infrastructure without needing a large in-house IT team. This makes their powerful computing resources more accessible and easier to use, especially for companies that may not have extensive expertise in managing large-scale cloud deployments. This segment adds value by making their platform user-friendly and efficient.
What management is betting on now
CoreWeave's management is heavily focused on capitalizing on the explosive growth in artificial intelligence (AI) and machine learning (ML). They are investing in expanding their infrastructure, particularly their GPU capacity, to meet the surging demand from companies developing and deploying AI technologies. Their strategy involves offering a highly specialized and efficient cloud platform that is optimized for these computationally intensive workloads. By providing this tailored infrastructure, they aim to become the go-to cloud provider for AI innovation, enabling businesses to train larger models faster and develop more sophisticated AI applications.
Price history
How the share price has moved
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Loading price history…
Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q3
$-573.93M
FY2024 Q4
$-3.31B
FY2025 Q1
$-1.35B
FY2025 Q2
$-2.70B
FY2025 Q3
$-699.75M
FY2025 Q4
$-2.50B
FY2026 Q1
$-4.71B
FY2026 Q2
$-5.74B
Revenue
$2.58B
Net income
$-626.00M
Diluted EPS
-1.14
Operating cash flow
$679.00M
Free cash flow
$-5.74B
Fetching…
Sources
Revenue
$2.08B
Net income
$-740.00M
Diluted EPS
-1.40
Operating cash flow
$2.98B
Free cash flow
$-4.71B
Fetching…
Sources
Revenue
$1.57B
Net income
$-451.73M
Diluted EPS
-0.50
Operating cash flow
$1.56B
Free cash flow
$-2.50B
Fetching…
Sources
Revenue
$1.36B
Net income
$-110.12M
Diluted EPS
-0.22
Operating cash flow
$1.69B
Free cash flow
$-699.75M
Fetching…
Sources
Revenue
$1.21B
Net income
$-290.51M
Diluted EPS
-0.60
Operating cash flow
$-251.25M
Free cash flow
$-2.70B
Fetching…
Sources
Revenue
$981.63M
Net income
$-314.64M
Diluted EPS
-1.49
Operating cash flow
$61.17M
Free cash flow
$-1.35B
Fetching…
Sources
Revenue
$747.00M
Net income
$-50.92M
Diluted EPS
-0.24
Operating cash flow
$186.56M
Free cash flow
$-3.31B
Fetching…
Sources
Revenue
$583.94M
Net income
$-359.81M
Diluted EPS
-1.82
Operating cash flow
$641.22M
Free cash flow
$-573.93M
Fetching…
Sources
Is it cheap or expensive?
Fair value — vs current price $69.69
We couldn't calculate a fair value right now.
Is it drowning in debt?
Distressed
Net debt $46.1B. Interest coverage -0.0x.
Net debt
$46.07B
Interest coverage
-0.04x
CoreWeave, Inc.'s profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here.
Distressed
Worse cushion
Baseline
Better cushion
CRWV
BASELINE
CoreWeave, Inc.
Total debt $51.61B Interest coverage -0.04x This is the baseline the peer rows are being compared against.
Total debt $251.64B Interest coverage 35.17x This peer still has a real interest-payment cushion, while CRWV does not.
Total debt $120.79B Interest coverage 175.32x This peer still has a real interest-payment cushion, while CRWV does not.
Total debt $128.81B Interest coverage 50.88x This peer still has a real interest-payment cushion, while CRWV does not.
Total debt $38.86B Interest coverage 503.42x This peer still has a real interest-payment cushion, while CRWV does not.
Total debt $112.32B Interest coverage 71.48x This peer still has a real interest-payment cushion, while CRWV does not.
What you should know
The case for and against CRWV
1 Reward
1 Risk
Rewards
-
Revenue grew 47.9% last year.
Risks
-
Return on equity was -43.6% last year — the company lost money on shareholders' equity.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
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Forward P/E
-37.49x
P/B
7.64x
P/S
5.06x
EV/EBITDA
22.30x
PEG ratio
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Profitability
How much profit each dollar creates
Gross margin
67.4%
Operating margin
-1.9%
Net margin
-25.4%
ROE
-43.6%
ROA
-0.2%
Health
Liquidity and balance-sheet strength
Debt / equity
10.27x
Current ratio
0.46x
Quick ratio
0.39x
Total debt
$51.61B
Total cash
$5.54B
Growth
How the business has been compounding
Revenue TTM
$7.59B
Revenue 5Y CAGR
2,140.6%
EPS TTM
-3.69
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$6.91B
Free CF TTM
$-7.25B
FCF margin
-95.5%
Dividend
Shareholder payout
Yield
0.0%
Payout ratio
—
Last ex-div date
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