JFrog Ltd. Ordinary Shares (FROG)

FairStock Score: 51/100 — MIXED

Key Financials

AI Analysis

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

At the close on 2026-10-13, JFrog traded at $99.28 with a $12.2B market value. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $163.8M and net loss was $4.2M, versus revenue of $127.2M and a net loss of $21.7M in fiscal Q2 2025, the quarter ended 2025-06-30. For FY2025, the year ended 2025-12-31, revenue was $531.8M and net loss was $71.8M; FY2024, ended 2024-12-31, had revenue of $428.5M and net loss of $69.2M. Sales are growing and losses are narrowing, but the company has not shown consistent owner earnings. FairStock classifies it as no Lynch category because it lost money in each of the last four years. The balance sheet looks conservative: debt/equity is 0.02, and FairStock's Altman Z-score is 13.99, while trailing free cash flow is $169.7M. But FairStock's FCF yield is only 1.4%, and at the close its P/B is 12.71, P/E is negative at -268.32, and ROE is -4.93%. FairStock's Piotroski F-score is 4/9, so accounting quality is mixed. I admire the growth, but Graham would ask what is proven. A business still losing money at a high multiple of book and sales needs a wide margin of safety. The moat may come from embedding into software pipelines, but the numbers do not yet demonstrate pricing power sufficient to produce reliable profits. Until consistent net income and stronger cash returns appear, the price does not offer me a clear margin of safety.

In plain English: JFrog sells software that helps companies store, manage, and protect the code they build. The business is growing and its losses are getting smaller, but it still has not made a full-year profit. At $99.28 on 2026-10-13, the shares look expensive compared with those numbers, and the FairStock score is middle-of-the-road.

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

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

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