What is Navan's operating income?

Navan's total operating income in 2026 was -$196.88 million, based on the following breakdown: Total Gross Profit: $500.47 million Total Operating Expenses: $697.35 million

Navan (NAVN) Financials

$25.88 +0.59 (+2.33%)

As of 01:30 PM Eastern

Compare

Annual Income Statements for Navan

This table shows Navan's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2025	2026
Period end date	1/31/2024	1/31/2025	1/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-332	-181	-398
Consolidated Net Income / (Loss)	-332	-181	-398
Net Income / (Loss) Continuing Operations	-332	-181	-398
Total Pre-Tax Income	-326	-172	-396
Total Operating Income	-246	-108	-197
Total Gross Profit	240	367	500
Total Revenue	402	537	702
Operating Revenue	402	537	702
Total Cost of Revenue	163	170	202
Operating Cost of Revenue	163	170	202
Total Operating Expenses	486	475	697
Selling, General & Admin Expense	133	134	203
Marketing Expense	221	219	343
Research & Development Expense	132	122	151
Total Other Income / (Expense), net	-80	-64	-199
Interest Expense	63	76	169
Interest & Investment Income	-27	12	-47
Other Income / (Expense), net	10	-0.07	17
Income Tax Expense	5.43	9.57	2.11
Basic Earnings per Share	($7.44)	($4.00)	($4.07)
Weighted Average Basic Shares Outstanding	44.58M	45.27M	97.80M
Diluted Earnings per Share	($7.44)	($4.00)	($4.07)
Weighted Average Diluted Shares Outstanding	44.58M	45.27M	97.80M
Weighted Average Basic & Diluted Shares Outstanding	-	-	250.76M

This table shows Navan's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2025	Q1 2026	Q3 2026	Q1 2027
Period end date	10/31/2024	4/30/2025	10/31/2025	4/30/2026
Net Income / (Loss) Attributable to Common Shareholders	-42	-61	-225	-21
Consolidated Net Income / (Loss)	-42	-61	-225	-21
Net Income / (Loss) Continuing Operations	-42	-61	-225	-21
Total Pre-Tax Income	-37	-57	-222	-20
Total Operating Income	-19	-16	-79	-18
Total Gross Profit	107	112	138	163
Total Revenue	151	157	195	220
Operating Revenue	151	157	195	220
Total Cost of Revenue	45	46	57	57
Operating Cost of Revenue	45	46	57	57
Total Operating Expenses	126	128	217	181
Selling, General & Admin Expense	35	34	71	50
Marketing Expense	58	62	95	92
Research & Development Expense	33	31	51	39
Total Other Income / (Expense), net	-17	-41	-143	-1.60
Interest Expense	20	37	113	2.82
Other Income / (Expense), net	1.02	6.12	-0.54	1.23
Income Tax Expense	5.17	4.48	3.47	0.80
Basic Earnings per Share	($0.92)	($1.33)	($4.58)	($0.08)
Weighted Average Basic Shares Outstanding	45.32M	46.15M	49.26M	250.28M
Diluted Earnings per Share	($0.92)	($1.33)	($4.58)	($0.08)
Weighted Average Diluted Shares Outstanding	45.32M	46.15M	49.26M	250.28M
Weighted Average Basic & Diluted Shares Outstanding	-	-	248.64M	254.33M

This table details how cash moves in and out of Navan's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2025	2026
Period end date	1/31/2024	1/31/2025	1/31/2026
Net Change in Cash & Equivalents	-63	43	357
Net Cash From Operating Activities	-166	-50	34
Net Cash From Continuing Operating Activities	-166	-50	34
Net Income / (Loss) Continuing Operations	-332	-181	-398
Consolidated Net Income / (Loss)	-332	-181	-398
Depreciation Expense	27	25	60
Amortization Expense	7.03	5.65	6.30
Non-Cash Adjustments To Reconcile Net Income	156	96	360
Changes in Operating Assets and Liabilities, net	-25	4.06	5.58
Net Cash From Investing Activities	-109	45	-203
Net Cash From Continuing Investing Activities	-109	45	-203
Purchase of Property, Plant & Equipment	-17	-16	-19
Acquisitions	-7.03	-3.88	0.00
Purchase of Investments	0.00	0.00	-156
Other Investing Activities, net	-84	65	-28
Net Cash From Financing Activities	213	53	520
Net Cash From Continuing Financing Activities	213	53	520
Repayment of Debt	-0.73	-37	-562
Issuance of Debt	206	86	216
Issuance of Common Equity	0.00	0.00	868
Other Financing Activities, net	6.93	3.64	-3.20
Effect of Exchange Rate Changes	-0.41	-3.81	6.92
Cash Interest Paid	19	30	26
Cash Income Taxes Paid	6.37	8.54	17

This table details how cash moves in and out of Navan's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2025	Q1 2026	Q4 2026	Q1 2027
Period end date	1/31/2025	4/30/2025	1/31/2026	4/30/2026
Net Change in Cash & Equivalents	4.71	68	-227	-23
Net Cash From Operating Activities	-8.94	4.55	35	-6.80
Net Cash From Continuing Operating Activities	-8.94	4.55	35	-6.80
Net Income / (Loss) Continuing Operations	-47	-61	-73	-21
Consolidated Net Income / (Loss)	-47	-61	-73	-21
Depreciation Expense	6.06	5.93	42	5.72
Amortization Expense	1.97	1.23	-0.79	2.37
Non-Cash Adjustments To Reconcile Net Income	15	60	41	34
Changes in Operating Assets and Liabilities, net	15	-1.35	25	-28
Net Cash From Investing Activities	42	-2.85	-153	-29
Net Cash From Continuing Investing Activities	42	-2.85	-153	-29
Purchase of Property, Plant & Equipment	-3.96	-4.02	-5.25	-4.75
Purchase of Investments	-	0.00	-	-59
Divestitures	-	-0.42	-	0.00
Sale and/or Maturity of Investments	-	0.00	-	53
Other Investing Activities, net	46	1.59	7.70	-18
Net Cash From Financing Activities	-25	62	-111	14
Net Cash From Continuing Financing Activities	-25	62	-111	14
Repayment of Debt	-27	-270	-83	-0.29
Issuance of Debt	1.39	175	0.55	0.00
Issuance of Common Equity	-	155	-	0.00
Other Financing Activities, net	0.89	1.58	-29	14
Effect of Exchange Rate Changes	-3.19	4.78	2.03	-1.57
Cash Interest Paid	7.86	6.40	3.88	2.38
Cash Income Taxes Paid	3.03	5.65	4.37	3.08

This table presents Navan's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2025	2026
Period end date	1/31/2025	1/31/2026
Total Assets	1,084	1,709
Total Current Assets	689	1,307
Cash & Equivalents	158	584
Restricted Cash	148	80
Short-Term Investments	0.00	157
Accounts Receivable	185	216
Prepaid Expenses	36	55
Other Current Assets	163	216
Plant, Property, & Equipment, net	30	35
Total Noncurrent Assets	366	367
Goodwill	220	241
Intangible Assets	56	19
Other Noncurrent Operating Assets	90	106
Total Liabilities & Shareholders' Equity	1,084	1,709
Total Liabilities	970	501
Total Current Liabilities	446	321
Short-Term Debt	221	0.58
Accounts Payable	180	263
Current Deferred Revenue	34	45
Other Current Liabilities	11	12
Total Noncurrent Liabilities	524	180
Long-Term Debt	397	124
Other Noncurrent Operating Liabilities	126	56
Commitments & Contingencies	0.00	0.00
Total Equity & Noncontrolling Interests	-1,187	1,208
Total Preferred & Common Equity	-1,187	1,208
Preferred Stock	0.00	0.00
Total Common Equity	-1,187	1,208
Common Stock	468	3,226
Retained Earnings	-1,617	-2,015
Accumulated Other Comprehensive Income / (Loss)	-38	-3.23

This table presents Navan's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2026	Q1 2027
Period end date	10/31/2025	4/30/2026
Total Assets	1,793	1,714
Total Current Assets	1,378	1,315
Cash & Equivalents	809	518
Restricted Cash	81	122
Short-Term Investments	-	162
Accounts Receivable	220	226
Prepaid Expenses	60	54
Other Current Assets	208	232
Plant, Property, & Equipment, net	33	36
Total Noncurrent Assets	382	363
Goodwill	233	238
Intangible Assets	55	18
Other Noncurrent Operating Assets	94	107
Total Liabilities & Shareholders' Equity	1,793	1,714
Total Liabilities	574	478
Total Current Liabilities	307	305
Short-Term Debt	1.33	0.32
Accounts Payable	257	248
Current Deferred Revenue	38	43
Other Current Liabilities	10	13
Total Noncurrent Liabilities	267	173
Long-Term Debt	205	124
Other Noncurrent Operating Liabilities	61	48
Commitments & Contingencies	0.00	0.00
Total Equity & Noncontrolling Interests	1,219	1,237
Total Preferred & Common Equity	1,219	1,237
Preferred Stock	0.00	0.00
Total Common Equity	1,219	1,237
Common Stock	3,178	3,281
Retained Earnings	-1,942	-2,036
Accumulated Other Comprehensive Income / (Loss)	-17	-8.86

This table displays calculated financial ratios and metrics derived from Navan's official financial filings.

Metric	2024	2025	2026
Period end date	1/31/2024	1/31/2025	1/31/2026
DEI Shares Outstanding	0.00	0.00	248,644,065.00
DEI Adjusted Shares Outstanding	0.00	0.00	248,644,065.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	0.00	-1.60
Growth Metrics	-	-	-
Revenue Growth	0.00%	33.46%	30.82%
EBITDA Growth	0.00%	61.86%	-46.50%
EBIT Growth	0.00%	54.41%	-66.75%
NOPAT Growth	0.00%	56.31%	-82.91%
Net Income Growth	0.00%	45.38%	-119.81%
EPS Growth	0.00%	46.24%	-1.75%
Operating Cash Flow Growth	0.00%	69.70%	166.80%
Free Cash Flow Firm Growth	0.00%	0.00%	55.31%
Invested Capital Growth	0.00%	0.00%	20.26%
Revenue Q/Q Growth	0.00%	0.00%	0.00%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%
EBIT Q/Q Growth	0.00%	0.00%	0.00%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%
Net Income Q/Q Growth	0.00%	0.00%	0.00%
EPS Q/Q Growth	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	0.00%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%
Profitability Metrics	-	-	-
Gross Margin	59.57%	68.37%	71.27%
EBITDA Margin	-50.30%	-14.38%	-16.10%
Operating Margin	-61.24%	-20.05%	-28.03%
EBIT Margin	-58.73%	-20.06%	-25.58%
Profit (Net Income) Margin	-82.42%	-33.73%	-56.68%
Tax Burden Percent	101.66%	105.58%	100.53%
Interest Burden Percent	138.04%	159.23%	220.44%
Effective Tax Rate	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	-35.35%	-29.35%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-103.10%	106.44%
Return on Net Nonoperating Assets (RNNOA)	0.00%	-281.72%	-30.85%
Return on Equity (ROE)	0.00%	-317.06%	-60.20%
Cash Return on Invested Capital (CROIC)	0.00%	-235.35%	-47.75%
Operating Return on Assets (OROA)	0.00%	-9.94%	-12.86%
Return on Assets (ROA)	0.00%	-16.71%	-28.50%
Return on Common Equity (ROCE)	0.00%	3,294.65%	-0.96%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-172	-75	-138
NOPAT Margin	-42.87%	-14.04%	-19.62%
Net Nonoperating Expense Percent (NNEP)	0.00%	67.75%	-135.79%
Return On Investment Capital (ROIC_SIMPLE)	-	13.24%	-10.34%
Cost of Revenue to Revenue	40.43%	31.63%	28.73%
SG&A Expenses to Revenue	33.07%	24.88%	28.97%
R&D to Revenue	32.92%	22.80%	21.54%
Operating Expenses to Revenue	120.81%	88.42%	99.30%
Earnings before Interest and Taxes (EBIT)	-236	-108	-180
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-202	-77	-113
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.93
Price to Tangible Book Value (P/TBV)	0.00	0.00	1.18
Price to Revenue (P/Rev)	2.29	1.72	1.60
Price to Earnings (P/E)	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	5.95	0.83
Enterprise Value to Revenue (EV/Rev)	0.00	4.72	0.61
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	12.69
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00
Leverage & Solvency	-	-	-
Debt to Equity	0.00	5.41	0.10
Long-Term Debt to Equity	0.00	3.48	0.10
Financial Leverage	0.00	2.73	-0.29
Leverage Ratio	0.00	9.49	2.11
Compound Leverage Factor	0.00	15.11	4.66
Debt to Total Capital	0.00%	84.40%	9.36%
Short-Term Debt to Total Capital	0.00%	30.17%	0.04%
Long-Term Debt to Total Capital	0.00%	54.23%	9.32%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	177.71%	0.00%
Common Equity to Total Capital	0.00%	-162.11%	90.64%
Debt to EBITDA	0.00	-8.01	-1.10
Net Debt to EBITDA	0.00	-4.04	6.15
Long-Term Debt to EBITDA	0.00	-5.14	-1.10
Debt to NOPAT	0.00	-8.20	-0.91
Net Debt to NOPAT	0.00	-4.14	5.05
Long-Term Debt to NOPAT	0.00	-5.27	-0.90
Altman Z-Score	0.00	-1.08	0.45
Noncontrolling Interest Sharing Ratio	0.00%	1,139.12%	98.40%
Liquidity Ratios	-	-	-
Current Ratio	0.00	1.54	4.07
Quick Ratio	0.00	0.77	2.98
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-502	-224
Operating Cash Flow to CapEx	-961.41%	-309.18%	178.09%
Free Cash Flow to Firm to Interest Expense	0.00	-6.60	-1.32
Operating Cash Flow to Interest Expense	-2.63	-0.66	0.20
Operating Cash Flow Less CapEx to Interest Expense	-2.90	-0.88	0.09
Efficiency Ratios	-	-	-
Asset Turnover	0.00	0.50	0.50
Accounts Receivable Turnover	0.00	2.90	3.50
Inventory Turnover	0.00	0.00	0.00
Fixed Asset Turnover	0.00	18.17	21.75
Accounts Payable Turnover	0.00	0.95	0.91
Days Sales Outstanding (DSO)	0.00	125.69	104.16
Days Inventory Outstanding (DIO)	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	386.09	400.48
Cash Conversion Cycle (CCC)	0.00	-260.40	-296.32
Capital & Investment Metrics	-	-	-
Invested Capital	0.00	426	513
Invested Capital Turnover	0.00	2.52	1.50
Increase / (Decrease) in Invested Capital	0.00	426	86
Enterprise Value (EV)	0.00	2,536	427
Market Capitalization	923	923	1,123
Book Value per Share	$0.00	($26.22)	$4.86
Tangible Book Value per Share	$0.00	($32.30)	$3.81
Total Capital	0.00	732	1,333
Total Debt	0.00	618	125
Total Long-Term Debt	0.00	397	124
Net Debt	0.00	312	-695
Capital Expenditures (CapEx)	17	16	19
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	158	166
Debt-free Net Working Capital (DFNWC)	0.00	464	987
Net Working Capital (NWC)	0.00	243	986
Net Nonoperating Expense (NNE)	159	106	260
Net Nonoperating Obligations (NNO)	0.00	312	-695
Total Depreciation and Amortization (D&A)	34	31	67
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	29.41%	23.71%
Debt-free Net Working Capital to Revenue	0.00%	86.38%	140.49%
Net Working Capital to Revenue	0.00%	45.23%	140.41%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	($4.07)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	97.80M
Adjusted Diluted Earnings per Share	$0.00	$0.00	($4.07)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	97.80M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	250.76M
Normalized Net Operating Profit after Tax (NOPAT)	-172	-75	-138
Normalized NOPAT Margin	-42.87%	-14.04%	-19.62%
Pre Tax Income Margin	-81.07%	-31.95%	-56.38%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	-3.73	-1.42	-1.06
NOPAT to Interest Expense	-2.73	-0.99	-0.81
EBIT Less CapEx to Interest Expense	-4.01	-1.63	-1.17
NOPAT Less CapEx to Interest Expense	-3.00	-1.21	-0.93
Payout Ratios	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Navan's official financial filings.

Metric	Q3 2025	Q1 2026	Q3 2026	Q1 2027
Period end date	10/31/2024	4/30/2025	10/31/2025	4/30/2026
DEI Shares Outstanding	0.00	0.00	0.00	250,761,014.00
DEI Adjusted Shares Outstanding	0.00	0.00	0.00	250,761,014.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	0.00	0.00	-0.08
Growth Metrics	-	-	-	-
Revenue Growth	0.00%	0.00%	28.99%	39.86%
EBITDA Growth	0.00%	0.00%	-332.74%	-236.55%
EBIT Growth	0.00%	0.00%	-332.74%	-72.71%
NOPAT Growth	0.00%	0.00%	-307.22%	-13.94%
Net Income Growth	0.00%	0.00%	-438.15%	66.52%
EPS Growth	0.00%	0.00%	-397.83%	93.99%
Operating Cash Flow Growth	0.00%	0.00%	0.00%	-249.37%
Free Cash Flow Firm Growth	0.00%	0.00%	0.00%	0.00%
Invested Capital Growth	0.00%	0.00%	0.00%	0.00%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	0.00%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	0.00%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	0.00%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	0.00%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	0.00%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	0.00%	150.92%	0.00%	-119.43%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	0.00%
Profitability Metrics	-	-	-	-
Gross Margin	70.54%	71.00%	70.72%	74.04%
EBITDA Margin	-12.20%	-1.66%	-40.93%	-3.99%
Operating Margin	-12.88%	-10.09%	-40.65%	-8.22%
EBIT Margin	-12.20%	-6.21%	-40.93%	-7.67%
Profit (Net Income) Margin	-27.71%	-38.90%	-115.62%	-9.31%
Tax Burden Percent	114.08%	107.89%	101.56%	104.07%
Interest Burden Percent	199.14%	580.82%	278.17%	116.72%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	-15.76%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	-13.45%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	7.37%
Return on Equity (ROE)	0.00%	0.00%	0.00%	-8.39%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	0.00%	0.00%	0.00%	-3.42%
Return on Assets (ROA)	0.00%	0.00%	0.00%	-4.16%
Return on Common Equity (ROCE)	0.00%	0.00%	0.00%	-8.39%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-14	-11	-55	-13
NOPAT Margin	-9.01%	-7.07%	-28.45%	-5.76%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	-49.69%	-2.31%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-3.89%	-0.93%
Cost of Revenue to Revenue	29.46%	29.00%	29.28%	25.96%
SG&A Expenses to Revenue	23.14%	21.85%	36.39%	22.64%
R&D to Revenue	21.84%	19.94%	26.26%	17.89%
Operating Expenses to Revenue	83.41%	81.09%	111.37%	82.26%
Earnings before Interest and Taxes (EBIT)	-18	-9.78	-80	-17
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-18	-2.61	-80	-8.79
Valuation Ratios	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.82	3.54
Price to Tangible Book Value (P/TBV)	0.00	0.00	1.07	4.46
Price to Revenue (P/Rev)	0.00	0.00	0.00	5.72
Price to Earnings (P/E)	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.59	6.62
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.00	4.84
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	165.74
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-
Debt to Equity	0.00	0.00	0.17	0.10
Long-Term Debt to Equity	0.00	0.00	0.17	0.10
Financial Leverage	0.00	0.00	-0.56	-0.55
Leverage Ratio	0.00	0.00	1.47	1.39
Compound Leverage Factor	0.00	0.00	4.09	1.62
Debt to Total Capital	0.00%	0.00%	14.50%	9.15%
Short-Term Debt to Total Capital	0.00%	0.00%	0.09%	0.02%
Long-Term Debt to Total Capital	0.00%	0.00%	14.40%	9.12%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	0.00%	85.50%	90.85%
Debt to EBITDA	0.00	0.00	0.00	-1.04
Net Debt to EBITDA	0.00	0.00	0.00	5.68
Long-Term Debt to EBITDA	0.00	0.00	0.00	-1.04
Debt to NOPAT	0.00	0.00	0.00	-0.89
Net Debt to NOPAT	0.00	0.00	0.00	4.86
Long-Term Debt to NOPAT	0.00	0.00	0.00	-0.89
Altman Z-Score	0.00	0.00	0.00	4.96
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-
Current Ratio	0.00	0.00	4.49	4.31
Quick Ratio	0.00	0.00	3.35	2.97
Cash Flow Metrics	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	0.00	-590	-572
Operating Cash Flow to CapEx	0.00%	113.29%	0.00%	-143.06%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	-5.23	-202.53
Operating Cash Flow to Interest Expense	0.00	0.12	0.00	-2.41
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.01	0.00	-4.09
Efficiency Ratios	-	-	-	-
Asset Turnover	0.00	0.00	0.00	0.45
Accounts Receivable Turnover	0.00	0.00	0.00	3.38
Inventory Turnover	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.00	0.00	21.17
Accounts Payable Turnover	0.00	0.00	0.00	0.86
Days Sales Outstanding (DSO)	0.00	0.00	0.00	108.03
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	424.64
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	-316.61
Capital & Investment Metrics	-	-	-	-
Invested Capital	0.00	0.00	535	559
Invested Capital Turnover	0.00	0.00	0.00	2.74
Increase / (Decrease) in Invested Capital	0.00	0.00	535	559
Enterprise Value (EV)	0.00	0.00	315	3,700
Market Capitalization	923	923	999	4,377
Book Value per Share	$0.00	$0.00	$24.74	$4.93
Tangible Book Value per Share	$0.00	$0.00	$18.91	$3.91
Total Capital	0.00	0.00	1,425	1,361
Total Debt	0.00	0.00	207	124
Total Long-Term Debt	0.00	0.00	205	124
Net Debt	0.00	0.00	-684	-678
Capital Expenditures (CapEx)	0.00	4.02	0.00	4.75
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	0.00	182	208
Debt-free Net Working Capital (DFNWC)	0.00	0.00	1,073	1,010
Net Working Capital (NWC)	0.00	0.00	1,071	1,010
Net Nonoperating Expense (NNE)	28	50	170	7.83
Net Nonoperating Obligations (NNO)	0.00	0.00	-684	-678
Total Depreciation and Amortization (D&A)	0.00	7.16	0.00	8.09
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	0.00%	0.00%	27.16%
Debt-free Net Working Capital to Revenue	0.00%	0.00%	0.00%	132.02%
Net Working Capital to Revenue	0.00%	0.00%	0.00%	131.98%
Earnings Adjustments	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	($4.58)	($0.08)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	49.26M	250.28M
Adjusted Diluted Earnings per Share	$0.00	$0.00	($4.58)	($0.08)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	49.26M	250.28M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	248.64M	254.33M
Normalized Net Operating Profit after Tax (NOPAT)	-14	-11	-55	-13
Normalized NOPAT Margin	-9.01%	-7.07%	-28.45%	-5.76%
Pre Tax Income Margin	-24.29%	-36.06%	-113.85%	-8.95%
Debt Service Ratios	-	-	-	-
EBIT to Interest Expense	-0.94	-0.27	-0.71	-5.98
NOPAT to Interest Expense	-0.69	-0.30	-0.49	-4.49
EBIT Less CapEx to Interest Expense	0.00	-0.37	0.00	-7.67
NOPAT Less CapEx to Interest Expense	0.00	-0.41	0.00	-6.18
Payout Ratios	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

Navan’s latest quarter shows rapid revenue growth, but profitability remains well out of reach and cash flow was negative. For Q1 fiscal 2027, revenue rose to $220.2 million from $157.5 million in the prior-year quarter, a solid increase of about 40%. However, the company still posted a net loss of $20.5 million and negative operating cash flow of $6.8 million.

Revenue growth remains strong. Q1 fiscal 2027 revenue increased 40% year over year, suggesting the business is still expanding at a healthy pace.
Gross profit improved materially. Gross profit reached $163.1 million, up from $111.8 million a year ago, showing the company is scaling its core business.
Cash and short-term liquidity look substantial. Navan reported $518.4 million in cash and equivalents, $162.2 million in short-term investments, and $121.7 million in restricted cash at quarter-end.
Operating cash flow improved sharply versus the prior quarter. Q1 fiscal 2027 operating cash flow was negative $6.8 million, better than the negative $34.9 million reported in Q4 fiscal 2026.
Debt remains manageable in context of liquidity. The balance sheet shows $124.2 million of long-term debt and just $0.3 million of short-term debt, which is not excessive relative to liquidity.
Depreciation and amortization continue to support non-cash earnings add-backs. These non-cash items helped offset losses in the cash flow statement, though they do not change underlying profitability.
Navan is still losing money. Net loss was $20.5 million in Q1 fiscal 2027, and losses were also significant in prior periods, including $72.8 million in Q4 fiscal 2026 and $61.3 million in Q1 fiscal 2026.
Operating expenses remain very high. Q1 fiscal 2027 operating expenses totaled $181.2 million, exceeding gross profit and driving an operating loss of $18.1 million.
Marketing spend is especially heavy. Marketing expense was $91.9 million in the quarter, which is a major drag on margins.
Cash declined sharply from the prior quarter. Cash and equivalents fell from $809.1 million in Q3 fiscal 2026 to $518.4 million in Q1 fiscal 2027, reflecting ongoing burn and balance sheet changes.

Longer-term trend: Navan is growing quickly, but the last several quarters show persistent losses, large operating expenses, and uneven cash generation. The business appears to be investing aggressively for scale, but investors will likely want to see operating leverage improve before the stock can be judged on earnings power rather than revenue growth alone.

07/16/26 12:47 PM ETAI Generated. May Contain Errors.

Navan Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Navan's financial year ends in January. Their financial year 2026 ended on January 31, 2026.

Navan's net income appears to be on an upward trend, with a most recent value of -$398.03 million in 2026, rising from -$331.55 million in 2024. The previous period was -$181.08 million in 2025. See Navan's forecast for analyst expectations on what's next for the company.

Navan's total operating income in 2026 was -$196.88 million, based on the following breakdown:

Total Gross Profit: $500.47 million
Total Operating Expenses: $697.35 million

Over the last 2 years, Navan's total revenue changed from $402.26 million in 2024 to $702.27 million in 2026, a change of 74.6%.

Navan's total liabilities were at $500.70 million at the end of 2026, a 48.4% decrease from 2025, and a 48.4% decrease since 2025.

In the past 1 years, Navan's cash and equivalents has ranged from $157.67 million in 2025 to $583.52 million in 2026, and is currently $583.52 million as of their latest financial filing in 2026.

Over the last 2 years, Navan's book value per share changed from 0.00 in 2024 to 4.86 in 2026, a change of 485.9%.

Related Companies

Financial statements for NASDAQ:NAVN last updated on 6/13/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

From Our Partners

Unlock superior investment research and tools.

Get MarketBeat All Access

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Navan (NAVN) Financials

Financials Breakdown Chart

Key Financial Trends

Navan Financials - Frequently Asked Questions

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

Navan (NAVN) Financials

Annual Income Statements for Navan

Quarterly Income Statements for Navan

Annual Cash Flow Statements for Navan

Quarterly Cash Flow Statements for Navan

Annual Balance Sheets for Navan

Quarterly Balance Sheets for Navan

Annual Metrics And Ratios for Navan

Quarterly Metrics And Ratios for Navan

Financials Breakdown Chart

Key Financial Trends

Navan Financials - Frequently Asked Questions

When does Navan's fiscal year end?

How has Navan's net income changed over the last 2 years?

What is Navan's operating income?

How has Navan's revenue changed over the last 2 years?

How much debt does Navan have?

How much cash does Navan have?

How has Navan's book value per share changed over the last 2 years?

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools