In the fast-evolving software infrastructure sector, CrowdStrike Holdings, Inc. and Rubrik, Inc. stand out as key players with strong innovation in cybersecurity and data protection. Both companies serve a global market with cloud-centric solutions, yet differ in scale and strategic focus. This comparison will help investors understand which company presents the most compelling opportunity for growth and stability in their portfolio. Let’s dive into the details to identify the better investment choice.
Table of contents
Companies Overview
I will begin the comparison between CrowdStrike and Rubrik by providing an overview of these two companies and their main differences.
CrowdStrike Overview
CrowdStrike Holdings, Inc. delivers cloud-based protection across endpoints, cloud workloads, identity, and data. The company offers a range of services including threat intelligence, managed security, IT operations management, and Zero Trust identity protection. Primarily selling subscriptions to its Falcon platform, CrowdStrike operates globally and is headquartered in Austin, Texas. It was founded in 2011 and trades on NASDAQ with a market cap of $114B.
Rubrik Overview
Rubrik, Inc. specializes in data security solutions, serving individuals and enterprises worldwide. Its offerings cover enterprise, unstructured, cloud, and SaaS data protection, along with threat analytics and cyber recovery. Founded in 2013 and based in Palo Alto, California, Rubrik serves diverse sectors such as finance, healthcare, and education. It is listed on the NYSE with a market cap of $13B and has a smaller workforce compared to CrowdStrike.
Key similarities and differences
Both CrowdStrike and Rubrik operate in the Software – Infrastructure industry, focusing on cybersecurity and data protection. CrowdStrike emphasizes endpoint and cloud workload security with subscription-based sales, while Rubrik centers on comprehensive data security and recovery solutions across multiple sectors. CrowdStrike has a significantly larger market cap and workforce, whereas Rubrik is a younger, smaller firm with a lower beta, indicating less stock volatility.
Income Statement Comparison
The table below provides a side-by-side comparison of the most recent fiscal year income statement metrics for CrowdStrike Holdings, Inc. and Rubrik, Inc.
| Metric | CrowdStrike Holdings, Inc. | Rubrik, Inc. |
|---|---|---|
| Market Cap | 114.4B | 13.4B |
| Revenue | 3.95B | 886.5M |
| EBITDA | 295M | -1.08B |
| EBIT | 81M | -1.11B |
| Net Income | -19.3M | -1.15B |
| EPS | -0.08 | -7.48 |
| Fiscal Year | 2025 | 2025 |
Income Statement Interpretations
CrowdStrike Holdings, Inc.
CrowdStrike’s revenue grew significantly from 874M in 2021 to nearly 4B in 2025, with net income turning from a loss of 93M in 2021 to a slight loss of 19M in 2025. Gross margins remained favorable at 74.9%, while net margins slipped negative recently. The 2025 year saw strong revenue growth of 29.4%, though EBIT and net income margins declined, signaling pressure on profitability despite top-line gains.
Rubrik, Inc.
Rubrik’s revenue expanded from 388M in 2021 to 887M in 2025, reflecting solid top-line growth. However, net losses widened substantially, reaching over 1.15B in 2025. Gross margins held favorable at 70%, but EBIT and net margins remained deeply negative, with operating expenses rising in tandem with revenue. The latest year showed robust revenue and gross profit growth, but profitability deteriorated further, highlighting ongoing challenges.
Which one has the stronger fundamentals?
CrowdStrike demonstrates stronger fundamentals with higher revenue scale, a favorable gross margin near 75%, and a more balanced income statement evolution despite recent margin pressures. Rubrik, while growing, faces steeper losses and unfavorable EBIT and net margin profiles. CrowdStrike’s overall income statement evaluation is favorable, contrasting with Rubrik’s unfavorable assessment, indicating more resilient financial health in CrowdStrike.
Financial Ratios Comparison
The table below compares key financial ratios for CrowdStrike Holdings, Inc. and Rubrik, Inc. based on the most recent fiscal year data available for 2025.
| Ratios | CrowdStrike Holdings, Inc. (CRWD) | Rubrik, Inc. (RBRK) |
|---|---|---|
| ROE | -0.59% | 208.55% |
| ROIC | 0.70% | -234.85% |
| P/E | -5056 | -9.79 |
| P/B | 29.71 | -20.42 |
| Current Ratio | 1.67 | 1.13 |
| Quick Ratio | 1.67 | 1.13 |
| D/E | 0.24 | -0.63 |
| Debt-to-Assets | 9.07% | 24.65% |
| Interest Coverage | -4.58 | -27.49 |
| Asset Turnover | 0.45 | 0.62 |
| Fixed Asset Turnover | 4.76 | 16.67 |
| Payout Ratio | 0 | 0 |
| Dividend Yield | 0 | 0 |
Interpretation of the Ratios
CrowdStrike Holdings, Inc.
CrowdStrike presents a mixed ratio profile with 42.86% favorable and 42.86% unfavorable metrics, yielding a neutral overall view. The company shows strong liquidity with a current and quick ratio of 1.67 and low debt-to-equity of 0.24, but weak profitability indicated by negative net margin (-0.49%) and return on equity (-0.59%). It pays no dividends, focusing on reinvestment and growth instead.
Rubrik, Inc.
Rubrik’s ratios are mostly favorable at 57.14%, with notable strengths in return on equity (208.55%) and a low weighted average cost of capital (5.34%). However, it suffers from a deeply negative net margin (-130.26%) and interest coverage ratio (-26.84), reflecting financial stress. Like CrowdStrike, Rubrik does not pay dividends, likely due to reinvestment priorities and a growth phase.
Which one has the best ratios?
Rubrik exhibits a more favorable ratio profile overall, with higher returns on equity and better cost of capital metrics. Despite its negative profitability and interest coverage, it maintains stronger valuation and leverage ratios. CrowdStrike has balanced favorable and unfavorable ratios but shows weaker profitability and valuation, resulting in a neutral stance.
Strategic Positioning
This section compares the strategic positioning of CrowdStrike and Rubrik, including market position, key segments, and exposure to technological disruption:
CrowdStrike Holdings, Inc.
- Leading global cloud-delivered cybersecurity provider with strong competitive presence.
- Focus on cloud endpoint protection, threat intelligence, managed security, and Zero Trust identity.
- Positioned in innovative cloud security but faces risks from rapid cybersecurity technology changes.
Rubrik, Inc.
- Smaller market cap with growing presence in data security amid competitive pressures in software.
- Emphasizes enterprise data protection, cloud and SaaS data security, serving diverse industry sectors.
- Exposure to technological disruption through evolving data security threats and cloud adoption shifts.
CrowdStrike vs Rubrik Positioning
CrowdStrike has a diversified cybersecurity platform across endpoints and cloud workloads, while Rubrik concentrates on data security and recovery solutions. CrowdStrike’s larger scale supports broader services, whereas Rubrik targets specific data protection niches, impacting competitive dynamics and growth potential.
Which has the best competitive advantage?
Both companies are currently shedding value relative to their cost of capital. CrowdStrike’s improving ROIC trend suggests better potential to enhance profitability compared to Rubrik’s declining ROIC, indicating a relatively stronger competitive moat for CrowdStrike.
Stock Comparison
The past year has seen significant bullish trends for both CrowdStrike Holdings, Inc. (CRWD) and Rubrik, Inc. (RBRK), with notable price appreciations and a recent slowdown in momentum amidst shifting buyer-seller dynamics.
Trend Analysis
CrowdStrike Holdings, Inc. (CRWD) experienced a strong 45.71% price increase over the past 12 months, indicating a bullish trend with decelerating momentum. The stock reached a high of 543.01 and a low of 217.89, with high volatility reflected by an 80.53 standard deviation.
Rubrik, Inc. (RBRK) posted an even more pronounced bullish trend, gaining 76.58% over the same period, though also with decelerating acceleration. Its price ranged from 28.65 to 97.91, showing lower volatility with a 21.4 standard deviation.
Comparing both, Rubrik (RBRK) delivered the highest market performance over the year with a 76.58% gain, outperforming CrowdStrike’s 45.71% increase according to the provided data.
Target Prices
Analysts present a clear consensus on the target prices for CrowdStrike Holdings, Inc. and Rubrik, Inc.
| Company | Target High | Target Low | Consensus |
|---|---|---|---|
| CrowdStrike Holdings, Inc. | 706 | 353 | 553.47 |
| Rubrik, Inc. | 113 | 105 | 109.33 |
The consensus target for CrowdStrike (553.47) suggests significant upside potential from the current price of 453.88. Rubrik’s target consensus (109.33) also implies a strong positive outlook versus its current price of 67.1.
Analyst Opinions Comparison
This section compares analysts’ ratings and financial scores for CrowdStrike Holdings, Inc. and Rubrik, Inc.:
Rating Comparison
CRWD Rating
- Rating: Both companies have a “C” rating, indicating a very favorable overall evaluation.
- Discounted Cash Flow Score: CRWD scores 4, considered favorable for valuation based on future cash flows.
- ROE Score: CRWD scores 1, very unfavorable, showing low efficiency in generating profit from equity.
- ROA Score: Both companies score 1, indicating very unfavorable asset utilization effectiveness.
- Debt To Equity Score: CRWD scores 3, moderate, suggesting average financial risk from debt.
- Overall Score: Both companies have an overall score of 2, classified as moderate financial standing.
RBRK Rating
- Rating: Both companies have a “C” rating, indicating a very favorable overall evaluation.
- Discounted Cash Flow Score: RBRK scores 1, very unfavorable for valuation based on future cash flows.
- ROE Score: RBRK scores 5, very favorable, indicating strong profit generation from shareholders’ equity.
- ROA Score: Both companies score 1, indicating very unfavorable asset utilization effectiveness.
- Debt To Equity Score: RBRK scores 1, very unfavorable, implying higher financial risk from debt.
- Overall Score: Both companies have an overall score of 2, classified as moderate financial standing.
Which one is the best rated?
Both CrowdStrike and Rubrik share the same overall moderate score and “C” rating. CRWD has a favorable discounted cash flow score and moderate debt risk, while RBRK excels in return on equity but scores very low on debt and valuation metrics.
Scores Comparison
The following table presents a comparison of the Altman Z-Score and Piotroski Score for CrowdStrike Holdings, Inc. (CRWD) and Rubrik, Inc. (RBRK):
CRWD Scores
- Altman Z-Score: 12.38, indicating a safe zone with very low bankruptcy risk.
- Piotroski Score: 4, reflecting average financial strength.
RBRK Scores
- Altman Z-Score: 1.41, indicating financial distress and higher bankruptcy risk.
- Piotroski Score: 4, reflecting average financial strength.
Which company has the best scores?
Based on the provided data, CRWD has a significantly higher Altman Z-Score, placing it in the safe zone, while RBRK is in the distress zone. Both have equal average Piotroski Scores. Overall, CRWD shows stronger financial stability by these metrics.
Grades Comparison
Here is the grades comparison for CrowdStrike Holdings, Inc. and Rubrik, Inc.:
CrowdStrike Holdings, Inc. Grades
The following table summarizes recent reliable grades from established grading companies 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 |
Overall, CrowdStrike’s grades show a predominance of Buy and Overweight ratings, with a recent minor downgrade from Keybanc amid mostly positive or stable recommendations.
Rubrik, Inc. Grades
The following table details reliable grades from recognized grading firms for Rubrik, Inc.:
| Grading Company | Action | New Grade | Date |
|---|---|---|---|
| Keybanc | Maintain | Overweight | 2026-01-12 |
| Piper Sandler | Maintain | Overweight | 2026-01-05 |
| Citigroup | Maintain | Buy | 2025-12-08 |
| Piper Sandler | Maintain | Overweight | 2025-12-05 |
| Baird | Maintain | Outperform | 2025-12-05 |
| Keybanc | Maintain | Overweight | 2025-12-05 |
| Rosenblatt | Maintain | Buy | 2025-12-05 |
| William Blair | Upgrade | Outperform | 2025-12-05 |
| BMO Capital | Maintain | Outperform | 2025-12-05 |
| Wedbush | Maintain | Outperform | 2025-12-05 |
Rubrik’s grades consistently reflect bullish sentiment with multiple Outperform and Overweight ratings, including a recent upgrade by William Blair.
Which company has the best grades?
Both companies hold a consensus “Buy” rating, but Rubrik, Inc. has received more frequent Outperform and Overweight ratings, indicating stronger analyst enthusiasm. This may suggest more positive growth expectations, potentially impacting investor confidence differently compared to CrowdStrike, which shows a mix of Buy and Sector Weight grades.
Strengths and Weaknesses
Below is a comparative overview of key strengths and weaknesses for CrowdStrike Holdings, Inc. (CRWD) and Rubrik, Inc. (RBRK) based on the most recent financial and operational data.
| Criterion | CrowdStrike Holdings, Inc. (CRWD) | Rubrik, Inc. (RBRK) |
|---|---|---|
| Diversification | Moderate: Revenue heavily reliant on Subscription & Circulation (3.76B USD in 2025) with growing Professional Services segment (192M USD) | Limited: Main revenue from Subscription & Circulation (829M USD), with smaller Maintenance and other product services |
| Profitability | Slightly unfavorable: ROIC 0.7%, net margin -0.49%, ROE -0.59%, improving ROIC trend but still value-destructive | Unfavorable: Negative ROIC (-234.85%), very negative net margin (-130.26%), despite favorable ROE 208.55%, declining profitability trend |
| Innovation | Strong: High fixed asset turnover (4.76) suggests efficient use of assets; growing ROIC indicates improving operational efficiency | Strong asset efficiency (fixed asset turnover 16.67), but declining profitability and interest coverage point to operational challenges |
| Global presence | Established global footprint with substantial recurring revenues and professional services growth | Smaller scale with concentrated product revenue; growth potential but higher risk due to financial instability |
| Market Share | Solid market position in cybersecurity with increasing subscription revenues and expanding service offerings | Emerging player with growing subscription base but facing value destruction and financial volatility |
Key takeaways: CrowdStrike demonstrates improving profitability and operational efficiency despite current value destruction, supported by strong subscription growth. Rubrik shows greater financial instability with declining profitability and a steeper value loss, though it maintains favorable asset utilization and some favorable financial ratios. Investors should weigh growth potential against profitability risks carefully.
Risk Analysis
Below is a comparative overview of key risks for CrowdStrike Holdings, Inc. (CRWD) and Rubrik, Inc. (RBRK) based on the most recent 2025 data.
| Metric | CrowdStrike Holdings, Inc. (CRWD) | Rubrik, Inc. (RBRK) |
|---|---|---|
| Market Risk | Beta 1.03, moderate volatility | Beta 0.28, low volatility |
| Debt level | Debt-to-assets 9.1%, low leverage | Debt-to-assets 24.7%, moderate leverage |
| Regulatory Risk | Moderate, tech industry compliance | Moderate, data security regulations |
| Operational Risk | Diversified cloud security ops | Concentrated in data protection |
| Environmental Risk | Low, typical tech footprint | Low, typical tech footprint |
| Geopolitical Risk | US-based, global customer exposure | US-based, global customer exposure |
The most significant risks are Rubrik’s financial distress indicated by a low Altman Z-Score (1.41, distress zone) signaling bankruptcy risk, and a high negative net margin (-130%), despite strong ROE. CrowdStrike shows more balanced financial stability with a safe Altman Z-Score (12.38) but faces operational pressure reflected in unfavorable profitability metrics. Investors should weigh Rubrik’s financial instability against its growth potential and CrowdStrike’s valuation premium with moderate market risk.
Which Stock to Choose?
CrowdStrike Holdings, Inc. (CRWD) exhibits strong revenue growth with a favorable income statement overall, despite recent net margin declines. Its financial ratios show a balanced profile with strengths in liquidity and low debt, but profitability ratios remain unfavorable. The company is slightly value-destroying but improving its ROIC, and its rating is very favorable.
Rubrik, Inc. (RBRK) shows robust revenue growth but an unfavorable income statement marked by declining profitability and negative net margins. Its financial ratios reflect a generally favorable standing with strong ROE but mixed liquidity and leverage metrics. The company is significantly value-destroying with a declining ROIC trend, yet it holds a very favorable rating.
Investors seeking growth exposure might find CRWD’s improving profitability and stable financial structure indicative of potential, while those focused on companies with high ROE but facing value destruction could consider RBRK. The choice could depend on the investor’s risk tolerance and preference for either improving fundamentals or current financial strength.
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 Rubrik, Inc. to enhance your investment decisions:
