Onestream, Inc. Class A (OS) AI Stock Analysis

• Market Cap: $5.76B
• Dividend Yield: N/A
• Average Volume (3M): 4.04M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.42
• Revenue Growth: 24.19%
• EPS Growth: 58.84%
• Country: US
• Employees: 1,500
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Application
• EPS (TTM): 0.08
• Shares Outstanding: 90,268,490
• 10 Day Avg. Volume: 9,886,945
• 30 Day Avg. Volume: 4,040,107
• PEG Ratio: -0.49
• Price to Book (P/B): 12.82
• Price to Sales (P/S): 10.12
• P/FCF Ratio: 84.61
• Enterprise Value/Market Cap: 0.50
• Enterprise Value/Revenue: 5.07
• Enterprise Value/Gross Profit: 7.47
• Enterprise Value/Ebitda: -22.82
• 1Y Price Target: $24.60
• Price Target Upside: 4.15% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 21
• EPS Forecast (FY): 0.28
• Revenue Forecast (FY): $705.14M

• Rating: 64 Neutral
• Price Target: $19.50 ▼(-17.44% Downside)

The score is driven primarily by moderate financial performance (growth, strong gross margin, low leverage, improving cash flow) but held back by ongoing losses and weak technical trends. Positive earnings-call guidance and the take-private deal materially support the outlook, while valuation remains unattractive on a P/E basis due to negative earnings.

Positive Factors

Recurring subscription revenue growth

Sustained 27% subscription growth strengthens recurring revenue predictability and customer stickiness, improving cash flow visibility. Over months this supports investment in product, higher renewal rates, and potential margin expansion versus one-time license sales.

Very low financial leverage

Extremely low debt-to-equity gives the company durable financial flexibility to fund R&D, international expansion or absorb downturns without solvency risk. This balance sheet strength reduces refinancing risk and supports long-term strategic choices.

AI momentum and international expansion

Strong AI bookings (60% YoY) and 37% international growth signal product differentiation and success expanding beyond core markets. Durable demand for AI-driven CPM and legacy replacement in Europe supports sustainable revenue diversification and higher long-term addressable market.

Negative Factors

Negative profitability

Persisting negative net income and EBIT margins indicate the business has yet to convert revenue growth into consistent operating profits. Over several months this constrains ROE, reduces retained earnings build-up, and limits reinvestment capacity without external capital.

Sharp decline in license revenue

A 64% drop in license revenue reflects contract rationalization and SaaS conversions that alter revenue recognition and temporarily reduce high-margin upfront receipts. This structural mix shift can compress near-term cash inflows and complicate margin and growth comparability.

U.S. Federal business headwinds

Headwinds and contract rationalization in the U.S. Federal segment reduce visibility into a historically stable customer base. Given long federal sales cycles and renewal importance, sustained federal weakness could materially slow growth and reduce predictable recurring revenue.

Onestream, Inc. Class A Business Overview & Revenue Model

Company Description

OneStream, Inc. delivers a unified, AI-enabled, and extensible software platform in the United States and internationally. The company's Digital Finance Cloud platform provides solutions that include financial close and consolidation that streamlines financial processes with capabilities to automate tasks and manage the complexity and standards of financial reporting and consolidation; financial and operational planning and analysis that enables financial and operational planning, budgeting, forecasting, and results analysis for individual business functions and the synchronization of plans across the entire organization; and financial and operational reporting that provides end-to-end visibility of analytics and key metrics to various stakeholders, including executives, finance professionals, line-of-business leaders, and other business partners. Its customers include enterprises, mid-market organizations, and government entities. OneStream, Inc. was founded in 2012 and is headquartered in Birmingham, Michigan.

How the Company Makes Money

Onestream generates revenue through a subscription-based model for its software solutions, which includes licensing fees for its Financial Close and Reporting Software. The company offers tiered subscription plans that cater to the needs of different business sizes and requirements, allowing for scalability. Additionally, Onestream earns revenue from professional services such as implementation, training, and ongoing support, which are often bundled with the software subscription. Key partnerships with major cloud service providers and integration with other enterprise resource planning (ERP) systems further enhance its offerings and attract a broader customer base, contributing to its overall earnings.

Onestream, Inc. Class A Financial Statement Overview

Summary

Onestream, Inc. shows revenue growth and a strong gross profit margin, but struggles with profitability due to negative net income and EBIT margins. The balance sheet is solid with low leverage, though returns on equity are negative. Cash flow generation is improving, but operational efficiency needs enhancement for sustainable profitability.

Income Statement

Onestream, Inc. has shown a positive revenue growth rate of 4.61% in the TTM, indicating a steady increase in sales. However, the company is facing challenges with profitability, as evidenced by negative net profit and EBIT margins. The gross profit margin remains strong at 67.91%, suggesting efficient production processes, but the negative EBIT and EBITDA margins highlight operational inefficiencies.

Balance Sheet

The balance sheet reflects a solid equity position with a low debt-to-equity ratio of 0.037, indicating low financial leverage and reduced risk of insolvency. However, the return on equity is negative, suggesting that the company is not generating sufficient returns on shareholders' investments. The equity ratio of 49.72% shows a healthy proportion of equity financing relative to total assets.

Cash Flow

The cash flow statement shows a positive trend with a free cash flow growth rate of 3.85% in the TTM, indicating improved cash generation capabilities. The operating cash flow to net income ratio of 0.26 suggests that the company is generating cash from its operations, although the free cash flow to net income ratio is close to 1, indicating limited cash buffer.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022
Income Statement
Total Revenue	570.68M	489.41M	374.92M	279.32M
Gross Profit	387.53M	310.08M	260.42M	186.81M
EBITDA	-126.81M	-301.13M	-27.63M	-56.60M
Net Income	-82.75M	-216.20M	-28.93M	-65.47M
Balance Sheet
Total Assets	949.45M	823.22M	361.56M	320.01M
Cash, Cash Equivalents and Short-Term Investments	653.85M	544.17M	117.09M	100.84M
Total Debt	17.70M	18.59M	20.03M	18.91M
Total Liabilities	386.58M	332.26M	255.03M	192.88M
Stockholders Equity	472.10M	386.17M	106.53M	127.14M
Cash Flow
Free Cash Flow	94.68M	58.53M	18.68M	-37.92M
Operating Cash Flow	96.04M	61.15M	21.27M	-32.94M
Investing Cash Flow	-5.07M	-10.21M	84.75M	34.88M
Financing Cash Flow	67.69M	376.45M	-3.85M	1.48M

Onestream, Inc. Class A Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 23.62
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For OS, the sentiment is Positive. The current price of 23.62 is above the 20-day moving average (MA) of 20.84, above the 50-day MA of 20.31, and above the 200-day MA of 21.98, indicating a bullish trend. The MACD of 1.30 indicates Negative momentum. The RSI at 72.03 is Negative, neither overbought nor oversold. The STOCH value of 92.10 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for OS.

Onestream, Inc. Class A Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CWAN	74 Outperform	$7.08B	15.86	32.91%	―	50.91%	54812.50%
BILL	74 Outperform	$4.83B	-171.01	0.30%	―	11.63%	50.72%
YOU	73 Outperform	$4.54B	17.89	130.93%	2.11%	17.83%	118.70%
CVLT	65 Neutral	$5.52B	68.83	32.87%	―	22.02%	-55.25%
OS	64 Neutral	$5.76B	-50.32	-20.63%	―	24.19%	58.84%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
QTWO	57 Neutral	$4.18B	134.33	5.68%	―	13.93%	―

Onestream, Inc. Class A Corporate Events

Hg to Take OneStream Private in $6.4B Deal

On January 6, 2026, OneStream entered into a definitive agreement and plan of merger under which entities affiliated with private equity firm Hg will acquire OneStream in an all-cash deal valuing the company at about $6.4 billion. Under the terms, public shareholders will receive $24.00 in cash per share—a 31% premium to the January 5, 2026 closing price—with corresponding cash treatment for OneStream LLC units and equity awards, while certain out-of-the-money options will be cancelled without consideration; CEO Tom Shea will roll over part of his equity and remain in his role, and the company will continue to be headquartered in Birmingham. The transaction, structured through dual mergers of Hg-affiliated entities into OneStream Inc. and OneStream Software LLC, has been unanimously approved by OneStream’s board and, on January 6, 2026, secured written consent from KKR-affiliated shareholders controlling roughly 58% of the voting power, which constitutes all required stockholder approval to complete the deal. Closing, targeted for the first half of 2026 and not subject to a financing condition, remains contingent on customary regulatory clearances—including Hart-Scott-Rodino approval—and other closing conditions, with an outside date that can extend to April 6, 2027 and a $207 million termination fee potentially payable by OneStream in specified circumstances. Upon completion, OneStream will be taken private, its Class A common stock will be delisted from public exchanges, Hg will become the majority shareholder alongside minority investors General Atlantic and Tidemark, and the amended tax receivable agreement will terminate without payments in connection with this or a superior alternative acquisition, simplifying the company’s post-transaction tax-related obligations and capital structure for new owners.

The most recent analyst rating on (OS) stock is a Hold with a $24.00 price target. To see the full list of analyst forecasts on Onestream, Inc. Class A stock, see the OS Stock Forecast page.

OneStream Announces CFO Transition Plan

On November 25, 2025, OneStream, Inc. announced a CFO transition plan with Bill Koefoed resigning as CFO effective December 31, 2025, and John Kinzer stepping in as interim CFO starting January 1, 2026. The company also promoted Scott Leshinski to President and Pamela McIntyre to Chief Accounting Officer, effective January 1, 2026. These leadership changes are part of OneStream’s strategy to accelerate AI leadership and support its growth and market expansion, particularly in AI solutions for the Office of the CFO, which have seen significant growth in 2025.

The most recent analyst rating on (OS) stock is a Buy with a $26.00 price target. To see the full list of analyst forecasts on Onestream, Inc. Class A stock, see the OS Stock Forecast page.