Sergey
@sergeycyw.bsky.social
I talk about growth stock investing and fundamental analysis with a long-term mindset. I provide earnings reviews and key news updates. Not investment advice.
SergeyCYW.substack.com
SergeyCYW.substack.com
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December 14, 2025 at 2:58 PM
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The PSG ratio is instrumental in determining whether a high P/S ratio is justified based on the company’s actual growth trajectory.
The chart includes the most popular stocks: $CRWD $PLTR $NET $RBRK $SHOP $ZS $SNOW $NOW $AXON $PANW $FIG $DUOL $MSFT $AMZN $GOOGL $APP $ORCL.
The chart includes the most popular stocks: $CRWD $PLTR $NET $RBRK $SHOP $ZS $SNOW $NOW $AXON $PANW $FIG $DUOL $MSFT $AMZN $GOOGL $APP $ORCL.
December 14, 2025 at 2:58 PM
The PSG ratio is instrumental in determining whether a high P/S ratio is justified based on the company’s actual growth trajectory.
The chart includes the most popular stocks: $CRWD $PLTR $NET $RBRK $SHOP $ZS $SNOW $NOW $AXON $PANW $FIG $DUOL $MSFT $AMZN $GOOGL $APP $ORCL.
The chart includes the most popular stocks: $CRWD $PLTR $NET $RBRK $SHOP $ZS $SNOW $NOW $AXON $PANW $FIG $DUOL $MSFT $AMZN $GOOGL $APP $ORCL.
This metric is particularly relevant in the software industry, where companies often command high P/S ratios driven by expectations of rapid growth from scalable operations.
December 14, 2025 at 2:58 PM
This metric is particularly relevant in the software industry, where companies often command high P/S ratios driven by expectations of rapid growth from scalable operations.
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December 14, 2025 at 1:00 PM
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The chart includes the most popular stocks: $CRWD $PLTR $NET $RBRK $SHOP $ZS $SNOW $NOW $AXON $PANW $DUOL $MSFT $AMZN $GOOGL $APP $ORCL.
December 14, 2025 at 1:00 PM
The chart includes the most popular stocks: $CRWD $PLTR $NET $RBRK $SHOP $ZS $SNOW $NOW $AXON $PANW $DUOL $MSFT $AMZN $GOOGL $APP $ORCL.
On the chart, companies with a Rule 40 score <30% are marked in red, those <40% in yellow, and those >40% in green.
*-Selection criteria: software companies with the majority of their revenue subscription-based, EV over $1 billion, and a gross margin above 40%.
*-Selection criteria: software companies with the majority of their revenue subscription-based, EV over $1 billion, and a gross margin above 40%.
December 14, 2025 at 1:00 PM
On the chart, companies with a Rule 40 score <30% are marked in red, those <40% in yellow, and those >40% in green.
*-Selection criteria: software companies with the majority of their revenue subscription-based, EV over $1 billion, and a gross margin above 40%.
*-Selection criteria: software companies with the majority of their revenue subscription-based, EV over $1 billion, and a gross margin above 40%.
In this case, I used the GAAP EBITDA Margin TTM combined with revenue growth estimates for the next year.
The Rule of 40 allows for the comparison of companies at different stages and scales.
The Rule of 40 allows for the comparison of companies at different stages and scales.
December 14, 2025 at 1:00 PM
In this case, I used the GAAP EBITDA Margin TTM combined with revenue growth estimates for the next year.
The Rule of 40 allows for the comparison of companies at different stages and scales.
The Rule of 40 allows for the comparison of companies at different stages and scales.
A company that meets or exceeds the 40% threshold is generally considered to be performing well, making it potentially more attractive to investors looking for balanced growth and profitability.
December 14, 2025 at 1:00 PM
A company that meets or exceeds the 40% threshold is generally considered to be performing well, making it potentially more attractive to investors looking for balanced growth and profitability.
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December 13, 2025 at 1:57 PM
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P.S. To make the data on the chart easier to read, I removed $PLTR, which is trading at 134.7 Forward EV/GP and +46% Est Growth Rate.
December 13, 2025 at 1:57 PM
P.S. To make the data on the chart easier to read, I removed $PLTR, which is trading at 134.7 Forward EV/GP and +46% Est Growth Rate.
*-Selection criteria: software companies with the majority of their revenue subscription-based, EV over $1 billion, and a gross margin above 40%.
The chart includes the most popular stocks: $CRWD $PLTR $NET $RBRK $SHOP $ZS $SNOW $NOW $AXON $PANW $FIG $DUOL $MSFT $AMZN $GOOGL $APP $ORCL.
The chart includes the most popular stocks: $CRWD $PLTR $NET $RBRK $SHOP $ZS $SNOW $NOW $AXON $PANW $FIG $DUOL $MSFT $AMZN $GOOGL $APP $ORCL.
December 13, 2025 at 1:57 PM
*-Selection criteria: software companies with the majority of their revenue subscription-based, EV over $1 billion, and a gross margin above 40%.
The chart includes the most popular stocks: $CRWD $PLTR $NET $RBRK $SHOP $ZS $SNOW $NOW $AXON $PANW $FIG $DUOL $MSFT $AMZN $GOOGL $APP $ORCL.
The chart includes the most popular stocks: $CRWD $PLTR $NET $RBRK $SHOP $ZS $SNOW $NOW $AXON $PANW $FIG $DUOL $MSFT $AMZN $GOOGL $APP $ORCL.
In this case, I used the GAAP Operating Margin from the most recent quarter. It helps identify the latest trends and highlights companies that have recently achieved operating profitability. However, for companies affected by seasonality, the data may be distorted.
December 13, 2025 at 1:57 PM
In this case, I used the GAAP Operating Margin from the most recent quarter. It helps identify the latest trends and highlights companies that have recently achieved operating profitability. However, for companies affected by seasonality, the data may be distorted.
On the chart, companies with a negative operating margin are marked in red, those with an operating margin below 5% in yellow, and those with an operating margin above 5% in green.
December 13, 2025 at 1:57 PM
On the chart, companies with a negative operating margin are marked in red, those with an operating margin below 5% in yellow, and those with an operating margin above 5% in green.
I also include data on Operating Margin in the chart, as it impacts company valuation. Companies with a high positive operating margin should be valued higher than those with a negative operating margin.
December 13, 2025 at 1:57 PM
I also include data on Operating Margin in the chart, as it impacts company valuation. Companies with a high positive operating margin should be valued higher than those with a negative operating margin.
This multiple considers product efficiency—gross profit margin. Gross profit margin is a critical metric for software companies. Consistently high or improving margins are often viewed as indicators of a company's strong competitive position and market potential.
December 13, 2025 at 1:57 PM
This multiple considers product efficiency—gross profit margin. Gross profit margin is a critical metric for software companies. Consistently high or improving margins are often viewed as indicators of a company's strong competitive position and market potential.
If you found this insightful:
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December 13, 2025 at 11:56 AM
If you found this insightful:
- Follow me @SergeyCYW
- Like and share first post below
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- Follow me @SergeyCYW
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P.S. To make the data on the chart easier to read, I removed $PLTR, which is trading at 75.4 Forward EV/Sales and +46% Est Growth Rate.
December 13, 2025 at 11:56 AM
P.S. To make the data on the chart easier to read, I removed $PLTR, which is trading at 75.4 Forward EV/Sales and +46% Est Growth Rate.
*-Selection criteria: software companies with the majority of their revenue subscription-based, EV over $1 billion, and a gross margin above 70%.
The chart includes the most popular stocks: $CRWD $PLTR $NET $RBRK $ZS $SNOW $MDB $NOW $AXON $PANW $DUOL $APP $FIG $ADBE $CRM.
The chart includes the most popular stocks: $CRWD $PLTR $NET $RBRK $ZS $SNOW $MDB $NOW $AXON $PANW $DUOL $APP $FIG $ADBE $CRM.
December 13, 2025 at 11:56 AM
*-Selection criteria: software companies with the majority of their revenue subscription-based, EV over $1 billion, and a gross margin above 70%.
The chart includes the most popular stocks: $CRWD $PLTR $NET $RBRK $ZS $SNOW $MDB $NOW $AXON $PANW $DUOL $APP $FIG $ADBE $CRM.
The chart includes the most popular stocks: $CRWD $PLTR $NET $RBRK $ZS $SNOW $MDB $NOW $AXON $PANW $DUOL $APP $FIG $ADBE $CRM.
In this case, I used the GAAP Operating Margin from the most recent quarter. It helps identify the latest trends and highlights companies that have recently achieved operating profitability. However, for companies affected by seasonality, the data may be distorted.
December 13, 2025 at 11:56 AM
In this case, I used the GAAP Operating Margin from the most recent quarter. It helps identify the latest trends and highlights companies that have recently achieved operating profitability. However, for companies affected by seasonality, the data may be distorted.
On the chart, companies with a negative operating margin are marked in red, those with an operating margin below 5% in yellow, and those with an operating margin above 5% in green.
December 13, 2025 at 11:56 AM
On the chart, companies with a negative operating margin are marked in red, those with an operating margin below 5% in yellow, and those with an operating margin above 5% in green.
I also include data on Operating Margin in the chart, as it impacts company valuation. Companies with a high positive operating margin should be valued higher than those with a negative operating margin.
December 13, 2025 at 11:56 AM
I also include data on Operating Margin in the chart, as it impacts company valuation. Companies with a high positive operating margin should be valued higher than those with a negative operating margin.
Additionally, understanding forward growth helps investors make informed decisions by comparing a company’s projections with its industry peers and market expectations, providing a clearer view of its growth trajectory.
December 13, 2025 at 11:56 AM
Additionally, understanding forward growth helps investors make informed decisions by comparing a company’s projections with its industry peers and market expectations, providing a clearer view of its growth trajectory.