What is JFrog Ltd (FROG)'s fair-value range?

EvidInvest reads JFrog Ltd (FROG)'s market price back into the assumptions behind it — the implied P/E, growth rate and cash yield — using its latest filed financials, then lets you set your own. See the full DCF, Graham number, EPV and multiple-based methods at https://evidinvest.com/valuation/FROG.

How is JFrog Ltd (FROG)'s fair value calculated?

JFrog Ltd (FROG)'s fair value is computed with several independent methods — a discounted cash flow (DCF) model, the Graham number, earnings power value (EPV), and valuation multiples (PE, EV/EBITDA, P/S, P/B) benchmarked against its industry — using data from SEC filings.

What is JFrog Ltd (FROG)'s PE ratio versus its industry?

EvidInvest shows JFrog Ltd (FROG)'s current and historical PE ratio alongside its sector and industry averages, so you can see whether the stock trades at a premium or discount to peers. Full breakdown at https://evidinvest.com/valuation/FROG.

Fair value · JFrog Ltd (FROG) · updated 2026-09-20 · from 10-K FY2025

JFrog trades at $92.50. That price implies a 1.5% free-cash-flow yield.

Cboe · delayed 15 min · as of 23:33 ET

Are those assumptions reasonable? Use FROG’s filed growth history and the AI chat to decide, then set your own inputs below — the range you build is yours.

What the price implies

FCF yield: 1.5%

Prices and market caps: Cboe delayed data, at least 15 minutes delayed. Not real-time. Fundamentals from company filings. This price: Cboe · delayed 15 min · as of 23:33 ET.

Set your own assumptions ↓See how each method got its number Check another stock

The filing behind these numbers

JFrog Ltd

Revenue: $531.8M
Diluted EPS: $-0.62
Free cash flow: $142.3M; operating cash flow − capital expenditure
Diluted shares: 116.2M; weighted average

10-K FY2025 · fiscal year ended 2025-12-31 · filed 2026-02-13 · accession 0001193125-26-051382

Trailing-twelve-month EPS also uses the quarterly 10-Qs through Q2 FY2026 (filed 2026-08-07).

Open this filing on sec.gov

Valuation tool: build your own FROG range

Fair Value Summary

Daily Price — FROG

$92.81 +86.4% (1Y)

Range implied by today’s price2 of 7 methods

$93 – $93

Price $92.50

Bear $93Base $93Bull $93

Range with preset inputs

$28 – $28

Price $92.50

Bear $28Base $28Bull $28

Every method that could be solved backwards opens on the assumption today’s price makes, so the top range sits on the price — that is arithmetic, not a view. Change any input and it becomes yours.

We don’t tell you what FROG is worth. Every tab OPENS on what today’s price implies for that method’s key assumption; you decide whether that assumption is reasonable — the growth matrix has FROG’s filed history and the AI chat will reason it through with you — and the range you build is yours. Our presets are filed history and reference settings, never a recommendation.

Discounted cash flow

$92.50per share

0% below the $92.50 price

Your stage-1 FCF growth (56.9%) matches the 56.9% the price implies — your value lands on today’s price.

Your inputs — two-stage free-cash-flow model

Implied by today’s price

At $92.50 the market implies a stage-1 FCF growth of 56.9%. (two-stage FCF model solved for stage-1 growth at 11.83% WACC)

Implied discount rate (holding growth): 11.8% · the WACC that makes the same model print the price

This tab opens on that number, so the value above is today’s price restated. Move the slider to what you find reasonable: the growth matrix shows what FROG has actually filed, and the AI chat will reason it through with you.

Your inputs

Free cash flow grows at your stage-1 rate, then your stage-2 rate, then a terminal rate; everything is discounted at your WACC.

Stage-1 growth56.9%preset 5.0%

Yearly free-cash-flow growth for the first stage. Starts below zero so a shrinking-cash-flow case — and the rate today’s price implies — can be set.

-20.0%90.0%

Stage-1 years5 yrs

How long stage-1 growth lasts.

1 yrs10 yrs

Stage-2 growth2.5%

Slower growth after stage 1, before the terminal phase.

-20.0%30.0%

Stage-2 years5 yrs

0 yrs10 yrs

Terminal growth2.5%

Growth forever after the two stages. Above ~3% is rarely justified.

0.0%5.0%

Discount rate (WACC)11.83%

The return you require. Default is the WACC EvidInvest computed for this company. Higher discount rate, lower value.

3.00%15.00%

Net debt ($M)Debt minus cash, from the balance sheet. Subtracted from enterprise value.

Starting FCF ($M)Latest free cash flow from the filing (operating cash flow minus capex).

Shares (M)Diluted shares, from the filing.

Year by year (two-stage model, $M)

PV explicit $5,185M · PV terminal $5,482M · EV $10,667M · equity $10,730M

Year	Stage	FCF	Present value
1	Stage 1	$223M	$199M
2	Stage 1	$349M	$279M
3	Stage 1	$548M	$392M
4	Stage 1	$860M	$550M
5	Stage 1	$1,349M	$771M
6	Stage 2	$1,383M	$707M
7	Stage 2	$1,418M	$648M
8	Stage 2	$1,453M	$594M
9	Stage 2	$1,489M	$544M
10	Stage 2	$1,527M	$499M

Inputs from the filing

Free cash flow: $169.7M; sum of the last four quarters
EBIT: $-91.9M; latest annual
Shares: 121.8M
Total debt: $12.5M
Cash: $75.8M
Net debt: $-63.4M; debt − cash

10-K FY2025 · period ended 2025-12-31 · filed 2026-02-13 · accession 0001193125-26-051382 · sec.gov

Prefer a blank slate with reverse DCF? Open the standalone DCF / reverse DCF for FROG

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Download the full FROG valuation report (PDF) — free

DCF fair value, Graham number, EPV, key multiples and growth rates in one clean PDF.

JFrog trades at $92.50. That price implies a 1.5% free-cash-flow yield.

The filing behind these numbers

Valuation tool: build your own FROG range

Daily Price — FROG

Range implied by today’s price2 of 7 methods

Range with preset inputs

Your inputs

Year by year (two-stage model, $M)

More on FROG

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Valuation tool: build your own FROG range

Daily Price — FROG

Range implied by today’s price2 of 7 methods

Range with preset inputs

Your inputs

Year by year (two-stage model, $M)

More on FROG

Compare with peers

Explore