Asana Inc. Class A Common Stock (ASAN)

FairStock Score: 39/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

Mr. Market is offering Asana at $9.86 as of 2026-10-13, a $2.3B market cap. The company sells work-management software, and customers may tolerate some switching costs once workflows live there, but this is a crowded field with large competitors. The numbers show why Graham would demand caution. In fiscal FY2026 (ended 2026-01-31), revenue was $790.8M and net loss was $189.0M, an improvement from FY2025's $723.9M revenue and $255.5M net loss. In fiscal Q2 2027 (quarter ended 2026-07-31), revenue was $216.4M and net loss was $39.2M, or diluted EPS -$0.17; that compares with fiscal Q2 2026's $196.9M revenue, $48.4M net loss, and -$0.20 EPS. So growth and loss reduction are real. TTM free cash flow is $112.0M, a 4.9% FCF yield—encouraging. But FairStock calculations show P/B of 21.91, ROE of -93.80%, ROCE of -9.26%, D/E of 2.48, Altman Z-score -1.99, and Piotroski 4/9. Those are not the marks of a fortress balance sheet. The Lynch category is none because Asana lost money in each of the last four years. FairStock Score is 39/100. I would want a much lower price or a clear path to consistent GAAP profits before calling this a value investment. Until then, it is a speculative turnaround, not a margin-of-safety bargain.

In plain English: Asana makes software that helps teams organize and manage their work. The business is growing and its losses are getting smaller, but it has not made a yearly profit and carries a lot of debt compared with its size. At $9.86, the stock looks expensive when compared with the company's accounting value and uncertain profits.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2027 10-Q (period ended 2026-07-31) · fiscal Q1 2027 10-Q (period ended 2026-04-30) · fiscal Q3 2026 10-Q (period ended 2025-10-31) · fiscal Q2 2026 10-Q (period ended 2025-07-31) · FY2026 10-K (period ended 2026-01-31) · FY2025 10-K (period ended 2025-01-31) · FY2024 10-K (period ended 2024-01-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer