In today’s rapidly evolving technology sector, CrowdStrike Holdings, Inc. and CoreWeave, Inc. stand out as innovative leaders in software infrastructure. CrowdStrike focuses on cloud-delivered cybersecurity, while CoreWeave specializes in cloud platforms for AI and compute workloads. Despite their different niches, both companies drive transformative change with cutting-edge solutions. This article will help you decide which company offers the most compelling investment opportunity in 2026.
Table of contents
Companies Overview
I will begin the comparison between CrowdStrike and CoreWeave by providing an overview of these two companies and their main differences.
CrowdStrike Overview
CrowdStrike Holdings, Inc. specializes in cloud-delivered protection across endpoints, cloud workloads, identity, and data. Its flagship Falcon platform offers threat intelligence, managed security, IT operations management, and Zero Trust identity protection. Founded in 2011 and based in Austin, Texas, CrowdStrike operates globally and is a leading player in the software infrastructure industry with a market cap of 114B USD.
CoreWeave Overview
CoreWeave, Inc. operates a cloud platform focused on scaling and accelerating infrastructure for GenAI workloads. Its offerings include GPU and CPU compute, storage, networking, and managed services, supporting AI model training and rendering. Incorporated in 2017 and headquartered in Livingston, New Jersey, CoreWeave is a smaller player with a 50B USD market cap, targeting compute-heavy enterprise needs.
Key similarities and differences
Both companies operate in the software infrastructure sector, providing cloud-based technology solutions. CrowdStrike focuses on cybersecurity with subscription-based services emphasizing threat protection, while CoreWeave delivers scalable cloud compute infrastructure primarily for AI and rendering workloads. CrowdStrike is significantly larger in market cap and employee count, and CoreWeave exhibits higher stock price volatility, reflecting differing business models and market niches.
Income Statement Comparison
This table compares the key income statement metrics for CrowdStrike Holdings, Inc. and CoreWeave, Inc. Class A Common Stock for their most recent fiscal years.
| Metric | CrowdStrike Holdings, Inc. | CoreWeave, Inc. Class A Common Stock |
|---|---|---|
| Market Cap | 114.4B | 50.4B |
| Revenue | 3.95B | 1.92B |
| EBITDA | 295M | 480M |
| EBIT | 81M | -383M |
| Net Income | -19.3M | -937.8M |
| EPS | -0.08 | -2.33 |
| Fiscal Year | 2025 | 2024 |
Income Statement Interpretations
CrowdStrike Holdings, Inc.
CrowdStrike showed strong revenue growth, increasing from $874M in 2021 to $3.95B in 2025, with a positive overall net income growth of 79.2%. Gross margins remained favorable around 75%, but the net margin turned slightly negative in 2025 at -0.49%. The latest year showed a slowdown in EBIT and net margin, with net income dipping to a small loss of $19M despite revenue gains.
CoreWeave, Inc. Class A Common Stock
CoreWeave’s revenue surged from $16M in 2022 to $1.92B in 2024, reflecting explosive growth of 11,999.97%. However, net income remained deeply negative at -$937M in 2024, worsening over the period. Gross margin stayed strong at 74%, but EBIT margin was unfavorable at -20%, and interest expenses accounted for a high 18.84% of revenue, highlighting ongoing profitability challenges.
Which one has the stronger fundamentals?
CrowdStrike displays stronger fundamentals with consistent revenue growth, favorable gross margins, and less severe net losses, supported by a history of net income improvement. CoreWeave presents rapid top-line expansion but suffers from significant net losses and high interest costs, indicating elevated risk. Both have favorable global income statement opinions, but CrowdStrike’s profitability metrics are comparatively stronger.
Financial Ratios Comparison
This table presents a comparison of key financial ratios for CrowdStrike Holdings, Inc. (CRWD) and CoreWeave, Inc. Class A Common Stock (CRWV) based on their most recent fiscal year data.
| Ratios | CrowdStrike Holdings, Inc. (CRWD) FY 2025 | CoreWeave, Inc. Class A (CRWV) FY 2024 |
|---|---|---|
| ROE | -0.59% | 208.77% |
| ROIC | 0.70% | 2.08% |
| P/E | -5056 | -18.73 |
| P/B | 29.71 | -39.11 |
| Current Ratio | 1.67 | 0.39 |
| Quick Ratio | 1.67 | 0.39 |
| D/E (Debt-to-Equity) | 0.24 | -25.68 |
| Debt-to-Assets | 9.07% | 59.56% |
| Interest Coverage | -4.58 | 0.90 |
| Asset Turnover | 0.45 | 0.11 |
| Fixed Asset Turnover | 4.76 | 0.13 |
| Payout Ratio | 0% | -6.69% |
| Dividend Yield | 0% | 0.36% |
Interpretation of the Ratios
CrowdStrike Holdings, Inc.
CrowdStrike exhibits a mixed ratio profile with 43% favorable and 43% unfavorable metrics, resulting in a neutral overall assessment. Strong liquidity ratios (current and quick at 1.67) and low debt levels indicate financial stability, but weak profitability ratios, including negative net margin (-0.49%) and ROE (-0.59%), raise concerns. The company does not pay dividends, reflecting a reinvestment strategy typical for growth-oriented tech firms.
CoreWeave, Inc. Class A Common Stock
CoreWeave shows predominantly unfavorable ratios, with 71% negative indicators overshadowing its 29% favorable ones. Its financial health is challenged by a low current ratio (0.39), high debt-to-assets (59.56%), and negative interest coverage (-1.06), signaling liquidity and solvency risks. Despite a positive ROE (208.77%), it posts a large net loss (-45.08%). The absence of dividends aligns with its growth phase and reinvestment priorities.
Which one has the best ratios?
Comparing the two, CrowdStrike displays a more balanced and stable ratio profile with better liquidity and moderate leverage, despite weak profitability. CoreWeave’s financials are more strained, with significant liquidity and leverage concerns, despite a strong ROE. Overall, CrowdStrike’s ratios are comparatively more favorable and less risky based on this data.
Strategic Positioning
This section compares the strategic positioning of CrowdStrike and CoreWeave, including market position, key segments, and exposure to technological disruption:
CrowdStrike
- Leading cybersecurity provider with significant market cap and moderate competitive pressure.
- Focused on cloud-delivered endpoint protection and security subscriptions, driven by Falcon platform sales.
- Faces technological disruption in cybersecurity innovations and cloud security demands.
CoreWeave
- Emerging cloud infrastructure provider with smaller market cap and very high beta indicating volatility.
- Concentrated on cloud GPU and CPU compute, AI workloads, and managed services for enterprise clients.
- Exposed to rapid changes in cloud infrastructure and AI technology development.
CrowdStrike vs CoreWeave Positioning
CrowdStrike adopts a diversified strategy centered on cybersecurity subscriptions and services, benefiting from scale but facing established competition. CoreWeave has a concentrated approach in cloud infrastructure for AI, exposing it to higher market volatility and technology risk but with a narrower focus.
Which has the best competitive advantage?
Both companies are currently shedding value with ROIC below WACC; CrowdStrike shows improving profitability while CoreWeave’s profitability is stable but unfavorable. Neither demonstrates a strong economic moat based on the provided MOAT evaluation.
Stock Comparison
The stock prices of CrowdStrike Holdings, Inc. (CRWD) and CoreWeave, Inc. Class A Common Stock (CRWV) have shown distinct bullish trends over the past 12 months, with notable price appreciations followed by recent declines in both cases.
Trend Analysis
Over the past 12 months, CrowdStrike Holdings, Inc. (CRWD) exhibited a bullish trend with a 45.71% price increase, although the growth shows deceleration. The stock reached a high of $543.01 and a low of $217.89, with a high volatility level (std deviation 80.53). Recently, the trend reversed with a 16.41% decrease.
CoreWeave, Inc. Class A (CRWV) also displayed a bullish trend over the last year, gaining 153.08% with decelerating acceleration. The stock traded between $39.09 and $183.58, with moderate volatility (std deviation 35.67). The recent period showed a 24.29% price drop.
Comparing both, CRWV delivered the highest market performance over the past year despite recent declines, showing stronger overall gains and increasing trading volume, unlike CRWD’s decreasing volume trend.
Target Prices
Analysts present a mixed but generally optimistic consensus on target prices for CrowdStrike Holdings, Inc. and CoreWeave, Inc. Class A Common Stock.
| Company | Target High | Target Low | Consensus |
|---|---|---|---|
| CrowdStrike Holdings, Inc. | 706 | 353 | 553.47 |
| CoreWeave, Inc. Class A | 175 | 68 | 115.79 |
CrowdStrike’s consensus target of 553.47 exceeds its current price of 453.88, indicating upside potential. CoreWeave’s target consensus of 115.79 is also above its current price of 101.23, reflecting positive analyst expectations despite higher volatility risk.
Analyst Opinions Comparison
This section compares analysts’ ratings and grades for CrowdStrike Holdings, Inc. and CoreWeave, Inc. Class A Common Stock:
Rating Comparison
CrowdStrike Rating
- Rating: C, categorized as Very Favorable
- Discounted Cash Flow Score: 4, Favorable
- ROE Score: 1, Very Unfavorable
- ROA Score: 1, Very Unfavorable
- Debt To Equity Score: 3, Moderate
- Overall Score: 2, Moderate
CoreWeave Rating
- Rating: D+, categorized as Very Favorable
- Discounted Cash Flow Score: 1, Very Unfavorable
- ROE Score: 1, Very Unfavorable
- ROA Score: 1, Very Unfavorable
- Debt To Equity Score: 1, Very Unfavorable
- Overall Score: 1, Very Unfavorable
Which one is the best rated?
Based strictly on provided data, CrowdStrike holds a better overall rating and scores notably higher in discounted cash flow and debt to equity, while CoreWeave’s scores remain very unfavorable across all categories.
Scores Comparison
Here is a comparison of the Altman Z-Score and Piotroski Score for the two companies:
CRWD Scores
- Altman Z-Score: 12.38, indicating a safe zone, low bankruptcy risk.
- Piotroski Score: 4, reflecting average financial strength.
CRWV Scores
- Altman Z-Score: 0.80, indicating distress zone, high bankruptcy risk.
- Piotroski Score: 3, reflecting very weak financial strength.
Which company has the best scores?
CRWD shows significantly stronger financial stability with a safe-zone Altman Z-Score and an average Piotroski Score. In contrast, CRWV is in financial distress with a very weak Piotroski Score, indicating higher risk based on these metrics.
Grades Comparison
Here is a detailed comparison of the latest grades assigned to CrowdStrike Holdings, Inc. and CoreWeave, Inc. Class A Common Stock:
CrowdStrike Holdings, Inc. Grades
The table below shows recent grades from established financial institutions for CrowdStrike Holdings, Inc.:
| Grading Company | Action | New Grade | Date |
|---|---|---|---|
| Citigroup | Maintain | Buy | 2026-01-13 |
| BTIG | Maintain | Buy | 2026-01-13 |
| Keybanc | Downgrade | Sector Weight | 2026-01-12 |
| Berenberg | Upgrade | Buy | 2026-01-09 |
| Stephens & Co. | Maintain | Overweight | 2025-12-18 |
| Morgan Stanley | Maintain | Equal Weight | 2025-12-18 |
| Freedom Capital Markets | Upgrade | Buy | 2025-12-11 |
| Citigroup | Maintain | Buy | 2025-12-04 |
| Goldman Sachs | Maintain | Buy | 2025-12-04 |
| Scotiabank | Maintain | Sector Outperform | 2025-12-03 |
The grades for CrowdStrike show a strong bias toward “Buy” recommendations, with a few “Hold” or “Equal Weight” opinions, and occasional upgrades reflecting optimism.
CoreWeave, Inc. Class A Common Stock Grades
The following table summarizes the recent grades for CoreWeave, Inc. Class A Common Stock from recognized firms:
| Grading Company | Action | New Grade | Date |
|---|---|---|---|
| Barclays | Maintain | Equal Weight | 2026-01-12 |
| Wells Fargo | Maintain | Overweight | 2026-01-08 |
| Jefferies | Maintain | Buy | 2026-01-05 |
| DA Davidson | Upgrade | Neutral | 2026-01-05 |
| Goldman Sachs | Maintain | Neutral | 2025-11-17 |
| HC Wainwright & Co. | Maintain | Buy | 2025-11-12 |
| Wells Fargo | Maintain | Overweight | 2025-11-12 |
| Barclays | Maintain | Equal Weight | 2025-11-12 |
| Loop Capital | Maintain | Buy | 2025-11-12 |
| B of A Securities | Maintain | Neutral | 2025-11-11 |
CoreWeave’s grades are more mixed, ranging from “Buy” and “Overweight” to “Neutral” and “Equal Weight,” indicating a more cautious stance.
Which company has the best grades?
CrowdStrike Holdings, Inc. has received more consistent and stronger “Buy” ratings from reputable analysts compared to CoreWeave, Inc., which displays a broader range from “Buy” to “Neutral.” This suggests greater analyst confidence in CrowdStrike, potentially attracting investors seeking stronger consensus support.
Strengths and Weaknesses
Below is a comparative overview of key strengths and weaknesses for CrowdStrike Holdings, Inc. (CRWD) and CoreWeave, Inc. Class A Common Stock (CRWV) based on the most recent data.
| Criterion | CrowdStrike Holdings, Inc. (CRWD) | CoreWeave, Inc. Class A Common Stock (CRWV) |
|---|---|---|
| Diversification | Moderate: Revenue mainly from Subscription and Circulation with growing Professional Services segment (3.76B and 192M USD in 2025) | Limited: No detailed product segmentation data available |
| Profitability | Unfavorable: Negative net margin (-0.49%) and ROE (-0.59%) but improving ROIC (0.7%) | Unfavorable: Large net loss margin (-45.08%), unstable ROIC (2.08%), high WACC (84.93%) |
| Innovation | Strong: Growing ROIC trend (+114%) indicates improving efficiency and potential competitive advantage | Weak: ROIC trend neutral, value destroying reflected in moat status |
| Global presence | Established global cybersecurity player, evidenced by large subscription base | Emerging player with limited data indicating global footprint |
| Market Share | Significant in cybersecurity market, backed by strong subscription growth | Small and emerging, struggling to create value |
In summary, CrowdStrike shows some challenges in profitability but demonstrates strong growth and improving operational efficiency, signaling potential upside. CoreWeave faces significant profitability and capital efficiency issues, marking it as a higher-risk option with less clear competitive positioning.
Risk Analysis
Below is a comparative table highlighting key risk metrics for CrowdStrike Holdings, Inc. (CRWD) and CoreWeave, Inc. Class A Common Stock (CRWV) based on the most recent financial data available:
| Metric | CrowdStrike Holdings, Inc. (CRWD) | CoreWeave, Inc. Class A (CRWV) |
|---|---|---|
| Market Risk | Beta 1.03 (moderate volatility) | Beta 21.65 (extremely high volatility) |
| Debt Level | Debt-to-Equity 0.24 (low) | Debt-to-Equity -25.68 (unusual negative value, caution advised) |
| Regulatory Risk | Moderate (tech industry scrutiny) | Moderate to high (emerging cloud infrastructure sector) |
| Operational Risk | Moderate (scale and complexity) | High (early-stage, smaller workforce) |
| Environmental Risk | Low (software sector) | Low (cloud infrastructure provider) |
| Geopolitical Risk | Moderate (global customer base) | Moderate (US-based but sector exposed to global supply chain) |
CrowdStrike shows moderate market risk with low debt and a solid Altman Z-Score placing it in a safe financial zone. CoreWeave carries significantly higher market risk and financial distress signals, including a low Altman Z-Score and weak liquidity ratios, indicating elevated bankruptcy risk and operational challenges. Investors should weigh the stability of CrowdStrike against the higher volatility and risk profile of CoreWeave.
Which Stock to Choose?
CrowdStrike Holdings, Inc. (CRWD) shows a favorable income statement with 29.4% revenue growth in 2025 and a positive long-term net income trend. Its financial ratios present a neutral overall picture with strengths in liquidity and low debt, despite weak profitability metrics. The company is slightly unfavorable in ROIC versus WACC but demonstrates improving profitability. Its rating is very favorable overall with a moderate score, a safe Altman Z-Score of 12.4, and an average Piotroski score of 4.
CoreWeave, Inc. Class A Common Stock (CRWV) exhibits strong revenue growth of 736.6% in 2024 but suffers from heavy losses and negative margins. Financial ratios are mostly unfavorable, reflecting poor liquidity, high debt levels, and weak asset turnover. The company is rated very favorable overall but scores poorly across key financial metrics, with a distress zone Altman Z-Score of 0.8 and a very weak Piotroski score of 3. Its ROIC remains significantly below WACC, indicating value destruction.
For investors prioritizing stable income growth, improving profitability, and financial health, CrowdStrike’s profile might appear more favorable. Conversely, those with a higher risk tolerance and focus on rapid expansion could interpret CoreWeave’s strong revenue surge and growth potential as attractive despite current financial weaknesses. The choice could depend on an investor’s risk appetite and investment horizon.
Disclaimer: Investment carries a risk of loss of initial capital. The past performance is not a reliable indicator of future results. Be sure to understand risks before making an investment decision.
Go Further
I encourage you to read the complete analyses of CrowdStrike Holdings, Inc. and CoreWeave, Inc. Class A Common Stock to enhance your investment decisions:
