CoreWeave (CRWV) AI Stock Analysis

• Market Cap: $50.44B
• Dividend Yield: N/A
• Average Volume (3M): 26.60M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.78
• Revenue Growth: 235.40%
• EPS Growth: 19.90%
• Country: US
• Employees: 881
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Infrastructure
• EPS (TTM): -0.08
• Shares Outstanding: 386,401,200
• 10 Day Avg. Volume: 27,699,181
• 30 Day Avg. Volume: 26,601,866
• PEG Ratio: -0.32
• Price to Book (P/B): -39.11
• Price to Sales (P/S): 8.45
• P/FCF Ratio: -2.72
• Enterprise Value/Market Cap: 1.67
• Enterprise Value/Revenue: 19.59
• Enterprise Value/Gross Profit: 26.53
• Enterprise Value/Ebitda: 38.14
• 1Y Price Target: $123.23
• Price Target Upside: 21.73% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 25
• EPS Forecast (FY): -0.27
• Revenue Forecast (FY): $12.10B

• Rating: 47 Neutral
• Price Target: $100.00 ▼(-1.22% Downside)

The score is primarily held down by weak financial quality—high leverage with negative equity, ongoing net losses, and materially negative free cash flow—despite strong top-line growth and operating cash generation. Technical signals are soft/neutral, and valuation support is limited due to negative earnings. Earnings-call momentum and improved financing flexibility provide some offset but do not fully counterbalance the balance-sheet and cash burn risks.

Positive Factors

Revenue Growth

Sustained, very high revenue growth indicates strong secular demand for GPU-backed cloud compute. Over a multi-quarter horizon this growth underpins scale advantages, greater pricing leverage with hyperscalers, and stronger negotiating position with suppliers, supporting durable top-line momentum.

High Adjusted Profitability

A very high adjusted-EBITDA margin signals efficient unit economics on deployed capacity and strong gross-margin characteristics of GPU services. Persistently high adjusted profitability provides cash generation potential to fund growth, cushion losses, and attract partner/customer commitments over the medium term.

Customer Diversification

Material reduction in customer concentration and growth in large-account roster improves revenue stability and reduces single-counterparty risk. A diversified base of large customers supports predictable contract renewals and cross-sell opportunities, strengthening long-run revenue durability.

Negative Factors

Balance Sheet Leverage

Negative shareholders' equity and high leverage are structural solvency risks that constrain strategic optionality. Over months this elevates refinancing, covenant and dilution risk, limits M&A or capex flexibility, and increases vulnerability to higher interest rates or weaker operating cash performance.

Heavy Capital Intensity

Very large ongoing capex and elevated construction-in-progress create persistent negative free cash flow pressure until assets ramp. This structurally increases funding needs, raises dilution or leverage reliance, and makes long-term returns sensitive to timely capacity monetization and utilization rates.

Execution & Delivery Risk

Dependence on third-party data center delivery introduces recurring execution risk that can defer revenue recognition and inflate costs. Over multiple quarters, such delivery slippage can disrupt capacity expansion schedules, strain customer relationships, and force additional financing or contractual concessions.

CoreWeave Business Overview & Revenue Model

Company Description

CoreWeave, Inc. operates a cloud platform that provides scaling, support, and acceleration for GenAI. The company builds the infrastructure that supports compute workloads for enterprises. Its products include GPU compute, CPU compute, storage services, networking services, managed services, and virtual and bare metal servers. Additionally, its platform offers a fleet lifecycle controller, node lifecycle controller, tensorizer, and observability. The company's services also include VFX and rendering, AI model training, AI interference, and mission control. CoreWeave, Inc. was formerly known as Atlantic Crypto Corporation and changed its name to CoreWeave, Inc. in December 2019. CoreWeave, Inc. was incorporated in 2017 and is based in Livingston, New Jersey.

How the Company Makes Money

CoreWeave generates revenue primarily through its cloud services, where customers pay for access to its GPU computing power on a pay-as-you-go or subscription basis. This model allows businesses to scale their computing needs based on project demands without the upfront costs associated with purchasing hardware. Key revenue streams include hourly usage fees for GPU instances, managed services, and potentially long-term contracts with enterprise clients. Additionally, strategic partnerships with technology companies and integration with popular AI and ML frameworks enhance its service offerings and attract a broader customer base, thereby contributing to its overall earnings.

CoreWeave Financial Statement Overview

Summary

CoreWeave, Inc. Class A shows strong revenue growth but struggles with profitability and stability. High leverage and negative equity pose significant financial risks. While operating cash flow is healthy, the negative free cash flow highlights potential cash constraints. Addressing operational inefficiencies and financial leverage is crucial for improving financial health.

Income Statement

CoreWeave, Inc. Class A exhibits significant revenue growth year-over-year, indicating strong top-line expansion. However, the company faces challenges with profitability, as reflected by negative net income and poor net profit margins. Despite a positive gross profit margin, the negative EBIT and EBITDA margins highlight operational inefficiencies and high operating costs.

Balance Sheet

The balance sheet reveals a heavily leveraged position with a negative stockholders' equity, indicating financial instability. The debt-to-equity ratio is alarming, reflecting high financial risk. Despite substantial assets, the equity deficit suggests potential solvency issues. The equity ratio is also negative, reinforcing the need for improved capital management.

Cash Flow

Operating cash flow remains robust, showcasing the company's ability to generate cash from operations. However, substantial negative free cash flow due to high capital expenditures poses challenges. The company maintains a positive operating cash flow to net income ratio, but the negative free cash flow to net income ratio suggests an unsustainable cash flow situation.

Breakdown	TTM	Dec 2024	Dec 2023
Income Statement
Total Revenue	4.31B	1.92B	228.94M
Gross Profit	3.18B	1.42B	160.16M
EBITDA	2.21B	480.04M	-426.43M
Net Income	-766.65M	-863.45M	-593.75M
Balance Sheet
Total Assets	32.91B	17.83B	4.98B
Cash, Cash Equivalents and Short-Term Investments	1.94B	1.36B	219.51M
Total Debt	18.81B	10.62B	2.00B
Total Liabilities	29.03B	18.25B	5.57B
Stockholders Equity	3.88B	-413.60M	-596.59M
Cash Flow
Free Cash Flow	-8.06B	-5.95B	-1.11B
Operating Cash Flow	1.69B	2.75B	1.83B
Investing Cash Flow	-9.81B	-8.66B	-3.15B
Financing Cash Flow	9.17B	7.46B	1.79B

CoreWeave Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MSFT	79 Outperform	$3.42T	32.72	32.24%	0.71%	15.59%	15.89%
DOCN	73 Outperform	$4.83B	21.41	―	―	14.20%	204.86%
ORCL	66 Neutral	$549.03B	35.91	70.60%	1.00%	11.08%	29.56%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
SNOW	54 Neutral	$71.99B	-52.13	-53.32%	―	28.48%	-19.12%
CRWV	47 Neutral	$50.44B	-55.69	-29.17%	―	235.40%	19.90%
NBIS	46 Neutral	$27.38B	118.61	3.45%	―	-87.55%	336.73%

CoreWeave Corporate Events

CoreWeave Amends Credit Agreement to Enhance Financial Flexibility

On December 31, 2025, CoreWeave, Inc. and its subsidiaries amended their DDTL 3.0 Credit Agreement and related Parent Guarantee and Pledge Agreement with MUFG Bank and associated agents to realign the financing facility with the timing of deliveries discussed on CoreWeave’s September 30, 2025 quarter earnings call. The First Amendment reduces the minimum liquidity requirement to $100 million for monthly payment dates between March 1 and May 1, 2026, delays the initial testing of the debt service coverage ratio covenant to October 31, 2027 and the contract realization ratio covenant to February 28, 2026, and allows unlimited equity cures for covenant breaches until October 28, 2026 (with limited use thereafter), effectively providing CoreWeave with greater financial flexibility and covenant headroom as it manages its growth and contractual commitments.

The most recent analyst rating on (CRWV) stock is a Hold with a $89.00 price target. To see the full list of analyst forecasts on CoreWeave stock, see the CRWV Stock Forecast page.

CoreWeave Completes $2.587 Billion Convertible Notes Offering

On December 11, 2025, CoreWeave completed a private offering of $2.587 billion in Convertible Senior Notes due 2031, which are unsecured obligations guaranteed by its subsidiaries. The proceeds, approximately $2.542 billion after expenses, will be used for capped call transactions and general corporate purposes. The offering is expected to impact CoreWeave’s market positioning by potentially reducing dilution of its Class A common stock and affecting its market price.

The most recent analyst rating on (CRWV) stock is a Hold with a $89.00 price target. To see the full list of analyst forecasts on CoreWeave stock, see the CRWV Stock Forecast page.

CoreWeave Terminates Merger with Core Scientific

On October 30, 2025, CoreWeave announced the termination of its proposed merger with Core Scientific after the latter’s stockholders did not approve the merger agreement. Despite the setback, CoreWeave remains committed to its growth strategy and will continue its commercial partnership with Core Scientific, focusing on leveraging their complementary strengths.

The most recent analyst rating on (CRWV) stock is a Hold with a $140.00 price target. To see the full list of analyst forecasts on CoreWeave stock, see the CRWV Stock Forecast page.