— Know what they know.
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Not Investment Advice

TWLO

NYSE · USD
Twilio Inc.
Technology · Software - Infrastructure
CEO Khozema Z. Shipchandler Employees 5,587 R&D / revenue 20.1%
Last price
$244.37−10.62%last session
Market cap
$37.5B
P/E (TTM)
32.5x
From 52w high
−20.8%
From 52w low
+133.8%
1-year return
+129.9%
RSI 14 · vs SMA200
39.9 · +33.6%
IS score
72.6/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

TWLO   SPY   XLK (sector ETF) · weekly closes
100150200250Jan 26Apr 26Jul 26Oct 26TWLO 230XLK 129SPY 116

Score DNA

Each bar is a 0-100 score within the scored universe
60
Profitability
71
Growth
48
Value
86
Momentum
100
Risk (safety)
74
Quality
91
Balance sheet
77
Earnings quality

Flags

Strengths
✓ Net cash✓ Congress buying
Warnings
▲ Share count rising
Observations
Moat model: Weak, Cost AdvantagePiotroski 6 / 9Altman Z 10.5Beta 1.413 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
67 open-market sales, $477.5M
Form 144 notices (12m): 32, $619.0M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
3
Last disclosed purchase 2026-05-04
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+153
227 new holders, 65 closed
970 filers hold 91.5% · 319 added, 314 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+304
1,167 funds adding shares
863 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
45.4%
20-day avg 55.8%, 50-day avg 58.9%
Latest 10.4 pp under its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$5.1B
Revenue growth YoY+13.7%
Gross margin48.0%
Operating income$174.7M
Operating margin3.4%
Net income$33.8M
Net margin0.7%
EPS (diluted)$0.21
Cash flow
Operating cash flow$1.0B
Capital expenditure$5.8M
Free cash flow$1.0B
FCF conversion (FCF / OCF)99.4%
Stock-based compensation$600.4M
FCF less SBC$432.6M
Buybacks$868.9M
Dividends$0
Balance sheet & returns
Cash & short-term investments$2.5B
Total debt$1.1B
Net cash$1.4B
Shareholders' equity$7.8B
Goodwill & intangibles$5.4B
Debt / equity0.12
ROE (TTM)14.1%
ROIC (TTM)3.1%
Operating margin by fiscal year
-31.8%FY2021-26.0%FY2022-9.2%FY2023-0.9%FY20243.5%FY2025
Revenue $2.8B (FY2021) to $5.1B (FY2025), a 15.6% CAGR.

Valuation

P/E (TTM)32.5x
EV / EBITDA112.9x
Price / sales6.73x
Price / FCF33.8x
FCF yield2.96%
Buyback yield2.32%
SBC / revenue10.6%
Price / book4.16x
Forward P/E FY202641.2x
Forward P/E FY202736.0x
Forward P/E FY202831.4x
Forward multiples divide today's price by Street EPS estimates. Street mean target $274.07 across 14 analysts last quarter is theirs, not ours.

TWLO vs industry median

296 companies in Software - Infrastructure
Gross margin 48.5% 65.7% Operating margin 5.5% -1.8% Net margin 20.6% -5.3% ROIC 3.1% 2.0%
TWLO (TTM)Industry median Asset turnover 0.51 vs industry 0.50 · financial leverage 1.21

Earnings delivery

Next report 2026-10-29 · consensus EPS $1.47
100%
beat rate, 12 of 12 quarters
+18.5%
median EPS surprise
12
longest beat streak
+66+51+35+19+19+1+19+13+17+8+18+11
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-11-08 to 2026-08-06. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
TWLO Twilio Inc. $37.5B32.5x14.1%20.6%+13.7% +129.9%
ZS Zscaler, Inc. $33.8Bn/m-2.9%-0.4%+25.4% −30.7%
CRWV CoreWeave, Inc. Class A Comm $33.8Bn/m-43.6%-24.3%+245.9% −56.7%
OKTA Okta, Inc. $31.3B110.8x4.3%14.4%+11.2% +113.5%
VRSN VeriSign, Inc. $27.3B32.8x-40.0%49.8%+6.9% +17.8%
SQ Block, Inc. $51.7Bn/m-4.3%1.3%+5.1% —
MDB MongoDB, Inc. $27.2B462.1x2.0%5.3%+25.5% —
CPAY Corpay, Inc. $26.3B24.0x30.5%18.5%+20.4% —
12-month window: SPY +15.9%, sector ETF XLK +29.0%. Past returns describe history only.

Recent 8-K filings

2026-08-06Earnings Release; Exhibits
2026-06-17Officer/Director Change; Shareholder Vote; Exhibits
2026-04-30Earnings Release; Exhibits
2026-03-24Officer/Director Change; Regulation FD; Exhibits
2026-02-12Results of Operations and Financial Condition; Financial Statements and Exhibits
2025-10-30Results of Operations and Financial Condition; Financial Statements and Exhibits

Context

Shares outstanding153,575,000
Free float99.6%
Institutional ownership91.5%
Beta1.41
Dividend yield0.00%
Last dividendNone on file
50 / 200-day average$252.94 / $182.44
Large-cap Technology median P/E34.8x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Weak).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where TWLO sits among 82 scored companies in Software - Infrastructure (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureTWLOIndustry medianIndustry percentileSector median
P/E (TTM) 32.7x 30.5x
54th		 32.0x
PEG (P/E ÷ 3-yr EPS CAGR) —
Price / sales 6.7x 3.5x
70th		 3.9x
Price / book 4.2x 4.9x
42nd		 4.4x
Price / tangible book 9.5x 12.4x
42nd		 8.8x
Price / free cash flow 33.8x 19.2x
71st		 20.3x
Price / operating cash flow 34.2x 13.8x
82nd		 17.9x
Enterprise value $35.9B $5.3B
88th		 $5.5B
EV / sales 6.4x 4.0x
66th		 4.1x
EV / EBITDA 110.9x 20.0x
90th		 18.9x
EV / EBIT 208.1x 25.5x
92nd		 26.7x
EV / free cash flow 32.4x 20.5x
69th		 21.9x
Earnings yield 3.1% 2.3%
58th		 2.0%
FCF yield 3.0% 4.6%
37th		 3.3%
Operating cash flow yield 2.9% 7.1%
21st		 4.4%
Graham number (per share) $95.38 $13.16
93rd		 $28.08

Profitability (TTM)

MeasureTWLOIndustry medianIndustry percentileSector median
Gross margin 48.5% 70.2%
28th		 55.7%
EBITDA margin 5.8% 13.7%
20th		 13.7%
Operating margin 5.5% 8.9%
38th		 8.2%
EBIT margin 3.1% 9.9%
27th		 8.6%
Net margin 20.6% 9.3%
78th		 5.7%
NOPAT margin 36.6% 7.5%
95th		 7.0%
FCF margin 19.9% 18.4%
57th		 15.0%
Operating cash flow margin 19.7% 24.1%
37th		 18.4%
R&D / revenue 19.0% 16.6%
62nd		 12.9%
SG&A / revenue 22.6% 36.1%
31st		 25.6%
Stock comp / revenue 10.6% 6.6%
73rd		 4.4%
Effective tax rate —

Returns on capital

MeasureTWLOIndustry medianIndustry percentileSector median
ROE (on average equity) 13.5% 13.4%
51st		 9.4%
ROA 11.1% 4.7%
72nd		 4.1%
ROIC 27.6% 11.3%
75th		 9.0%
ROCE 1.7% 8.1%
26th		 8.6%
Return on tangible assets 1.7% 6.4%
26th		 5.9%
Cash ROIC (OCF / invested capital) 14.8% 30.3%
23rd		 20.7%
Gross profitability (GP / assets) 25.0% 32.4%
28th		 30.0%
ROIC, 3-yr average -8.2% 8.3%
15th		 7.4%
ROIC, 5-yr average -1.1% 8.3%
33rd		 7.9%
ROE, 5-yr average -3.2% -2.1%
47th		 6.9%
Incremental ROIC 212.6% 29.1%
91st		 15.3%

Growth

MeasureTWLOIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 17.8% 14.3%
59th		 14.3%
Revenue growth (QoQ) 6.6% 5.9%
57th		 6.6%
Revenue CAGR, 3 yr 11.2% 12.0%
45th		 9.6%
Revenue CAGR, 5 yr 19.8% 14.2%
67th		 11.5%
Gross profit CAGR, 3 yr 12.8% 12.7%
51st		 10.9%
Operating income CAGR, 3 yr —
Net income growth (TTM YoY) —
Net income CAGR, 3 yr —
EPS growth (TTM YoY) —
EPS CAGR, 3 yr —
EPS CAGR, 5 yr —
FCF growth (TTM YoY) 53.2% 17.2%
67th		 24.6%
FCF CAGR, 3 yr —
Operating cash flow CAGR, 3 yr —
Book value CAGR, 3 yr 1.1% 7.1%
30th		 6.8%
Dividend CAGR, 3 yr —
Sustainable growth rate 13.5% 15.9%
44th		 14.2%

Margin history & stability

MeasureTWLOIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 49.0% 70.5%
31st		 53.2%
Operating margin, 3-yr average 0.7% 5.3%
38th		 6.6%
Net margin, 3-yr average 2.3% 3.4%
44th		 5.2%
FCF margin, 3-yr average 17.9% 14.7%
58th		 12.7%
Revenue stability (0-1) 0.96 0.96
49th		 0.87
Earnings stability (0-1) 0.66 0.57
53rd		 0.45
Margin stability (0-1) 0.97 0.96
69th		 0.95

Liquidity (latest quarter)

MeasureTWLOIndustry medianIndustry percentileSector median
Cash & short-term investments $2.7B $689.5M
81st		 $494.1M
Net cash (− = net debt) $1.6B $140.9M
89th		 $49.8M
Working capital $2.9B $260.0M
95th		 $391.0M
Current ratio 4.62 1.42
91st		 1.92
Quick ratio 4.62 1.38
91st		 1.67
Cash ratio (cash + ST investments / current liabilities) 3.28 0.94
90th		 0.95
Defensive interval (days) 520 days 494 days
54th		 521 days

Leverage & solvency (latest quarter)

MeasureTWLOIndustry medianIndustry percentileSector median
Total debt $1.1B $511.2M
64th		 $349.3M
Debt / equity 0.12 0.39
33rd		 0.29
Net debt / equity −0.18 −0.33
57th		 −0.13
Debt / assets 9.8% 27.1%
37th		 16.9%
Debt / capital 10.6% 29.8%
33rd		 22.3%
Debt / EBITDA 3.29 2.44
62nd		 1.78
Net debt / EBITDA −4.91 −0.49
20th		 −0.18
Interest coverage (EBIT / interest) —
Cash interest coverage —
Debt payback (years of OCF) 1.0 yrs 2.2 yrs
38th		 1.6 yrs
Liabilities / assets 17.2% 63.9%
6th		 48.7%
IS credit model rating AA — —
Implied credit spread (bps) 80 225
23rd		 175

Efficiency

MeasureTWLOIndustry medianIndustry percentileSector median
Asset turnover 0.54 0.58
47th		 0.62
Fixed asset turnover 29.86 10.05
85th		 9.25
Inventory turnover —
Receivables turnover 8.3 6.2
69th		 6.2
Days sales outstanding 44 days 58 days
32nd		 59 days
Days inventory outstanding —
Days payables outstanding 9 days 32 days
16th		 46 days
Cash conversion cycle (days) 35 days 34 days
51st		 50 days
Capex / revenue —
Capex / depreciation —
Operating expense ratio 42.8% 57.7%
32nd		 44.3%

Cash flow & earnings quality

MeasureTWLOIndustry medianIndustry percentileSector median
Operating cash flow / net income 0.95 1.79
12th		 1.61
FCF / net income 0.97 1.53
19th		 1.33
FCF / operating cash flow —
Capex / operating cash flow —
Accruals ratio 0.5% -7.9%
91st		 -6.3%
Sloan accruals ratio -0.3% -2.3%
63rd		 -1.8%
Earnings quality score (0-1) 0.75 0.75
11th		 0.75

Dividends & buybacks

MeasureTWLOIndustry medianIndustry percentileSector median
Dividend yield 0.0% 0.0%
0th		 0.0%
Dividend per share (TTM) $0.00 $0.00
0th		 $0.00
Payout ratio (dividends / net income) 0.0% 0.0%
0th		 0.0%
Dividends / FCF 0.0% 0.0%
0th		 0.0%
Dividend growth (YoY) —
Buyback yield 2.3% 2.0%
54th		 1.2%
Shareholder yield (dividends + buybacks) 2.3% 2.3%
53rd		 1.7%
Share count change (YoY) 0.0% 0.0%
50th		 0.1%
Buybacks, last 5 years $3.7B $224.2M
90th		 $215.3M

Scores & forensic checks

MeasureTWLOIndustry medianIndustry percentileSector median
IS score 73 58
78th		 56
IS profitability 60 44
67th		 40
IS growth 71 65
61st		 65
IS value 48 37
68th		 39
IS momentum 86 81
60th		 78
IS risk (safety) 100 65
67th		 100
IS quality 74 68
67th		 67
IS balance sheet 91 65
86th		 72
IS earnings quality 77 62
86th		 61
IS cash flow 79 67
63rd		 66
Piotroski F-score (0-9) 6 6
36th		 6
Altman Z-score 10.5 2.9
90th		 4.0
Beneish M-score −2.14 −2.61
81st		 −2.58
Ohlson O-score −11.89 −6.95
4th		 −8.00
IS credit score 87 64
70th		 69

Per share

MeasureTWLOIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $7.19 $0.68
93rd		 $0.84
Book value per share $56.21 $4.49
96th		 $9.77
Tangible book per share $22.66 $1.24
96th		 $3.22
Revenue per share $34.89 $10.67
85th		 $13.00
FCF per share $6.95 $1.54
86th		 $1.78
Operating cash flow per share $6.86 $2.14
77th		 $2.40
Cash per share $16.63 $4.92
85th		 $4.50

Size (TTM)

MeasureTWLOIndustry medianIndustry percentileSector median
Market cap $37.5B $4.3B
89th		 $4.7B
Revenue $5.6B $1.3B
89th		 $1.2B
EBITDA $324.0M $176.5M
65th		 $185.8M
Net income $1.1B $87.5M
94th		 $84.9M
Free cash flow $1.1B $176.3M
85th		 $170.6M
Total assets $10.8B $2.4B
83rd		 $2.4B
Shareholders' equity $9.0B $594.2M
93rd		 $1.1B
Employees 5,587 2,856
73rd		 3,000

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-10-05Shipchandler Khozema
Director, Chief Executive Officer
 Open-market sale 1,934$288.02$557,036191,371
2026-10-05Shipchandler Khozema
Director, Chief Executive Officer
 Open-market sale 1,900$289.13$549,353189,471
2026-10-05Shipchandler Khozema
Director, Chief Executive Officer
 Open-market sale 5,156$290.24$1.5M184,315
2026-10-05Shipchandler Khozema
Director, Chief Executive Officer
 Open-market sale 501$291.47$146,025183,814
2026-10-05Shipchandler Khozema
Director, Chief Executive Officer
 Open-market sale 800$292.33$233,863183,014
2026-10-05Shipchandler Khozema
Director, Chief Executive Officer
 Open-market sale 1,600$293.14$469,020181,414
2026-10-05Shipchandler Khozema
Director, Chief Executive Officer
 Open-market sale 2,551$294.53$751,346178,863
2026-09-30Viggiano Aidan
Chief Financial Officer
 Open-market sale 100$289.68$28,968108,230
2026-09-30Viggiano Aidan
Chief Financial Officer
 Open-market sale 500$291.35$145,672107,730
2026-09-30Viggiano Aidan
Chief Financial Officer
 Open-market sale 380$292.17$111,024107,350
2026-09-30Viggiano Aidan
Chief Financial Officer
 Open-market sale 750$293.42$220,065106,600
2026-09-30Viggiano Aidan
Chief Financial Officer
 Open-market sale 3,504$294.53$1.0M103,096

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarAprMayJunJulAugSepOct

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired186,890—
GiftAcquired41,470—
GiftDisposed41,470—
Open-market saleDisposed672,346,098$477.5M
Option exerciseAcquired276,316$7.7M
Option exerciseDisposed276,316$7.7M
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 32 notices · 3,439,870 shares · $619.0M
FiledFilerShares proposedEst. proceeds
2026-10-05Shipchandler Khozema14,442$4.2M
2026-09-30Shipchandler Khozema13,898$4.1M
2026-09-30Viggiano Aidan9,084$2.7M
2026-08-17Viggiano Aidan1,394$326,863
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 3 trades (3 purchases) · Senate 0 (0 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-05-04Josh GottheimerHousePurchase$1,001 - $15,0002026-06-04
2026-05-04Josh GottheimerHousePurchase$1,001 - $15,0002026-06-04
2026-05-03Josh S. GottheimerHousePurchase$1,001 - $15,0002026-06-04
2025-04-17Josh GottheimerHouseSale (Full)$1,001 - $15,0002025-05-14
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.16,630,023$3.4B10.83%
FMR LLC11,273,330$2.3B7.34%
JPMORGAN CHASE & CO8,494,777$1.7B5.53%
VANGUARD PORTFOLIO MANAGEMENT LLC7,643,548$1.6B4.98%
VANGUARD CAPITAL MANAGEMENT LLC6,849,553$1.4B4.46%
STATE STREET CORP5,998,587$1.2B3.91%
GEODE CAPITAL MANAGEMENT, LLC2,875,569$591.7M1.87%
ALKEON CAPITAL MANAGEMENT LLC2,335,700$481.9M1.52%
ROYAL BANK OF CANADA2,250,229$464.3M1.47%
Pictet Asset Management Holding SA2,247,629$463.6M1.46%
NORGES BANK1,935,539$399.4M1.26%
Capital World Investors1,786,989$368.7M1.16%
DIMENSIONAL FUND ADVISORS LP1,435,153$296.0M0.93%
NORDEA INVESTMENT MANAGEMENT AB1,271,006$253.2M0.83%
NORTHERN TRUST CORP1,268,827$261.8M0.83%

Institutional ownership by quarter

2023-092026-0691.5%
% of shares held by 13F filers
2023-092026-06970
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-3097091.5%22731931465
2026-03-3181789.1%92326266129
2025-12-3187089.6%19027028775
2025-09-3077491.9%121267268152
2025-06-3081986.1%165288258105
2025-03-3177479.6%13126926191
2024-12-3174678.0%21220423658
2024-09-3060577.5%9718421485
2024-06-3059984.3%7921221396
2024-03-3162689.6%94227188116
2023-12-3165695.3%13617124073
2023-09-3060393.3%7920120281

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-07-27SCHEDULE 13G/AJPMORGAN CHASE & CO.8.0%12,202,360
2026-04-30SCHEDULE 13GVanguard Capital Management5.3%8,113,780
2026-04-29SCHEDULE 13GVanguard Portfolio Management5.3%8,102,423
2026-03-27SCHEDULE 13G/AThe Vanguard Group0.0%0
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.06%$1.4B
VSMPX0.06%$1.4B
VTI0.06%$1.4B
VTSAX0.06%$1.4B
NJH0.87%$1.0B
NAESX0.57%$1.0B

Share structure

Shares outstanding153,575,000
Float152,933,276
Free float99.6%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$2.8B$3.8B$4.2B$4.5B$5.1B
Cost of revenue$1.5B$2.1B$2.2B$2.2B$2.6B
Gross profit$1.3B$1.8B$2.0B$2.2B$2.4B
R&D$788.0M$1.1B$940.9M$1.0B$1.0B
SG&A$1.4B$1.7B$1.4B$1.3B$1.3B
Operating income−$900.6M−$993.5M−$386.8M−$40.4M$174.7M
EBITDA−$653.8M−$917.3M−$685.3M$136.5M$272.5M
Pretax income−$960.9M−$1.2B−$996.7M−$88.6M$55.1M
Income tax−$11.0M$12.5M$18.7M$20.8M$21.3M
Net income−$949.9M−$1.3B−$1.0B−$109.4M$33.8M
EPS, diluted$-5.45$-6.86$-5.54$-0.66$0.21
Diluted shares174.2M183.0M183.3M165.9M159.8M

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$5.4B$4.2B$4.0B$2.4B$2.5B
Receivables$388.2M$547.5M$562.8M$588.5M$636.7M
Inventory$0$0$0$0$0
Total current assets$5.9B$5.0B$4.9B$3.4B$3.6B
PP&E, net$489.9M$385.3M$283.6M$244.4M$216.0M
Goodwill & intangibles$6.3B$6.1B$5.6B$5.5B$5.4B
Total assets$13.0B$12.6B$11.6B$9.9B$9.8B
Accounts payable$93.3M$124.6M$119.6M$100.2M$85.1M
Total current liabilities$703.5M$808.2M$738.3M$820.2M$887.0M
Long-term debt$985.9M$987.4M$989.0M$990.6M$1.0B
Total liabilities$2.0B$2.0B$1.9B$1.9B$1.9B
Shareholders' equity$11.0B$10.6B$9.7B$8.0B$7.8B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income−$949.9M−$1.3B−$1.0B−$109.4M$33.8M
Depreciation & amortization$258.4M$279.1M$284.4M$183.0M$217.4M
Stock-based compensation$632.3M$798.6M$675.9M$616.6M$600.4M
Change in working capital−$185.1M−$396.6M−$230.6M−$234.1M−$78.3M
Operating cash flow−$58.2M−$254.4M$414.8M$716.2M$1.0B
Capital expenditure−$90.0M−$80.2M−$51.2M−$58.8M−$5.8M
Free cash flow−$148.2M−$334.6M$363.5M$657.5M$1.0B
Investing cash flow−$2.5B−$616.5M$228.6M$1.4B$80.9M
Net debt issued / repaid$976.4M−$13.4M−$16.1M−$12.6M−$40.9M
Buybacks$0$0−$668.8M−$2.3B−$868.9M
Dividends paid$0$0$0$0$0

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin45.4%46.1%47.4%50.0%48.7%
Operating margin-31.8%-26.0%-9.2%-0.9%3.5%
Net margin-33.4%-32.8%-24.4%-2.5%0.7%
FCF margin-5.2%-8.7%8.8%14.7%20.4%
ROE-9.8%-11.6%-10.0%-1.2%0.4%
ROIC-10.3%-10.3%-4.4%-0.5%1.7%
ROA-8.4%-9.8%-8.4%-1.0%0.3%
Debt / equity0.120.120.120.140.15
Interest coveragen/m————
Current ratio8.436.176.644.204.03
Revenue growth+61.3%+34.6%+8.6%+7.3%+13.7%
EPS growth−71.2%−27.8%+17.7%+88.2%+133.7%
P/E at year endn/mn/mn/mn/m640.4x
EV / EBITDA at year endn/mn/mn/m112.0x84.1x
FCF yield at year end-0.31%-3.69%2.64%3.67%4.77%
Dividend payout————0.0%

Revenue by segment

FY2022FY2023FY2024FY2025
Communications Segment—$3.9B$4.2B—
Communication$3.3B———
Messaging———$2.9B
Other Communications$376.6M——$746.5M
Software$441.5M———
Segment———$303.2M
Product and Service, Other$133.6M———

Revenue by region · FY2025

UNITED STATES$3.2B · 64%
Non-US$1.8B · 36%

Street estimates by fiscal year

Next report 2026-10-29 · consensus EPS $1.47 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$6.0B$5.8B – $6.1B$5.93$5.82 – $6.051641.2x
2027$6.7B$6.1B – $6.9B$6.79$6.26 – $7.371736.0x
2028$7.4B$6.8B – $7.8B$7.77$3.99 – $11.17631.4x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-08-06$1.32$1.47+11.4%$1.4B$1.5B+4.8%
2026-04-30$1.27$1.50+18.1%$1.3B$1.4B+4.7%
2026-02-12$1.23$1.33+8.1%$1.3B$1.4B+3.4%
2025-10-30$1.07$1.25+16.8%$1.3B$1.3B+3.8%
2025-08-07$1.05$1.19+13.3%$1.2B$1.2B+3.4%
2025-05-01$0.96$1.14+19.0%$1.1B$1.2B+2.9%
2025-02-13$0.99$1.00+1.0%$1.2B$1.2B+1.0%
2024-10-30$0.86$1.02+18.9%$1.1B$1.1B+3.6%
2024-08-01$0.73$0.87+18.9%$1.1B$1.1B+1.9%
2024-05-07$0.59$0.80+35.1%$1.0B$1.0B+1.3%
2024-02-14$0.57$0.86+50.9%$1.0B$1.1B+3.2%
2023-11-08$0.35$0.58+65.7%$988.2M$1.0B+4.6%
2023-08-08$0.29$0.54+86.2%$986.0M$1.0B+5.3%
2023-05-09$0.20$0.47+135.0%$1.0B$1.0B+0.3%
2023-02-15$-0.09$0.22+344.4%$1.0B$1.0B+2.4%
2022-11-03$-0.39$-0.27+30.8%$973.6M$983.0M+1.0%
2022-08-04$-0.20$-0.11+45.0%$921.6M$943.4M+2.4%
2022-05-04$-0.22$-1.23−456.9%$865.9M$875.4M+1.1%
2022-02-09$-0.21$-0.20+4.8%$771.3M$842.7M+9.3%
2021-10-27$-0.15$0.01+106.7%$679.1M$740.2M+9.0%
2021-07-29$-0.14$-0.11+21.4%$598.4M$668.9M+11.8%
2021-05-05$-0.10$0.05+150.0%$533.9M$590.0M+10.5%
2021-02-17$-0.08$0.04+150.0%$454.1M$548.1M+20.7%
2020-10-26$-0.05$0.04+180.0%$224.0M$448.0M+100.0%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.506-150.606-220.506-290.707-060.807-130.507-200.507-271.408-031.308-100.708-170.608-240.508-31
Week ofNotionalSharesTrades
2026-08-31$515.6M2,211,52163,683
2026-08-24$574.5M2,479,26559,381
2026-08-17$693.1M3,037,33675,221
2026-08-10$1.3B5,306,089111,458
2026-08-03$1.4B6,622,890122,583
2026-07-27$458.2M2,387,23568,587

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1545.4%
DateShort shareShort volumeTotal volume
2026-10-1545.4%392,001862,642
2026-10-1446.4%363,341782,843
2026-10-1350.9%322,689633,651
2026-10-1263.9%501,265785,053
2026-10-0955.9%669,8581,197,843
2026-10-0843.5%342,200786,681
2026-10-0743.7%662,2801,516,519
2026-10-0650.2%775,2641,545,444
2026-10-0555.6%844,1181,518,153
2026-10-0246.4%772,9101,665,670
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+8.7Jan-0.4Feb-5.0Mar+1.9Apr+12.7May+6.1Jun+5.9Jul+3.2Aug-2.1Sep-1.4Oct+3.3Nov+1.2Dec
MonthAvg returnUp yearsYears
Jan+8.7%70%10
Feb−0.4%60%10
Mar−5.0%50%10
Apr+1.9%56%9
May+12.7%56%9
Jun+6.1%60%10
Jul+5.9%80%10
Aug+3.2%40%10
Sep−2.1%40%10
Oct−1.4%50%10
Nov+3.3%50%10
Dec+1.2%60%10
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1439.9
MFI68.9
ADX27.1
Stochastic %K / %D16.8 / 24.3
Williams %R-89.6
CCI-212
TSI / signal8.5 / 20.4
Chaikin money flow0.18
ATR$16.66
Bollinger width18.9%
Volume vs 20-day avg0.90x
SupertrendDown

Moving averages and bands

level (price vs level)
SMA 20$282.77 (−13.6%)
SMA 50$253.96 (−3.8%)
SMA 200$182.94 (+33.6%)
EMA 21$272.00 (−10.2%)
EMA 50$254.90 (−4.1%)
EMA 200$198.08 (+23.4%)
Bollinger upper$309.48 (−21.0%)
Bollinger lower$256.06 (−4.6%)
Parabolic SAR$300.93 (−18.8%)
Open the live chart, 110+ indicators

About Twilio Inc.

Twilio Inc. offers a comprehensive cloud-based communications platform, empowering developers to build, scale, and manage customer engagement features directly within their software applications across both U.S. and international markets. Central to its customer engagement solution is a robust suite of application programming interfaces (APIs). These APIs streamline the complex communication logic required for various customer interactions and enable developers to seamlessly integrate voice, messaging, video, and email functionalities into their applications. Established in 2008, Twilio's corporate headquarters are located in San Francisco, California.

https://www.twilio.com

Key executives

NameTitlePayBorn
Khozema Z. ShipchandlerChief Executive Officer & Director$2.9M1974
Aidan ViggianoChief Financial Officer$1.9M1980
Andy O'DowerVice President of Product for Video & Voice——
Bryan VanimanSenior Vice President of Corporate Development, Investor Relations & Treasury—1976
Chris KoehlerChief Marketing Officer——
Christy LakeChief Administrative Officer—1974
Inbal ShaniChief Product & Technology Officer——
Juliana ChenCorporate Secretary——

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Khozema Shipchandler Chief Executive Officer2025$1.1M$21.4M$1.5M$24.3M
Aidan Viggiano Chief Financial Officer2025$850,000$7.6M$1.0M$9.5M

Employees

1k20183k20195k20208k20218k20226k20236k20246k2025

Dividends

Ex-dateAmountPaid
None on file.

Moat model

Weak · Cost Advantage · 2026-06-30
Cost advantage59
Intangibles38
Switching costs47
Network effect57
Efficient scale45
Our component scores (0-100) and overall 48.4; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms