Navan Inc. Class A Common Stock (NAVN)

FairStock Score: 44/100 — MIXED

Key Financials

AI Analysis

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

Mr. Market is offering Navan at $23.90 as of 2026-10-13, a $6.1 billion market cap. In fiscal Q2 2027, the quarter ended 2026-07-31, revenue was $232.8 million and net loss was $29.1 million, or diluted EPS -$0.11. That is progress from fiscal Q2 2026, ended 2025-07-31, when revenue was $172.0 million and net loss was $38.6 million. For fiscal year 2026, ended 2026-01-31, Navan earned revenue of $702.3 million but lost $398.0 million, or $4.07 per diluted share; fiscal year 2025 revenue was $536.8 million with a $181.1 million loss. So growth is real, but profitability is not. FairStock's calculations show a negative P/E of -6.18, P/B of 4.72, ROE of -49.39%, and FCF yield of 0.4% on $25.7 million TTM free cash flow. The balance sheet has modest debt, with D/E 0.13, and an Altman Z-score of 6.62 suggests low near-term distress, but the company has lost money each of the last three years according to the Lynch rule, so no Lynch category applies. The software travel-and-expense niche may have switching costs, but I cannot verify a durable moat from these figures. Paying roughly $6.1 billion for $25.7 million of trailing free cash flow requires enormous future improvement. The recent revenue trajectory is encouraging, and the narrower quarterly loss is a positive, but until profits and cash generation are substantial and consistent, this remains a speculative growth story, not a Graham-style bargain. FairStock Score 44/100 aligns with that mixed picture.

In plain English: Navan makes software that helps companies book travel and manage expenses. Its sales are growing quickly, but it still loses money and has not had a profitable year in the last three years. At $23.90 a share, the price looks expensive compared with the small amount of cash the business produces and its losses.

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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