Asana

ASAN

Software - Application · Technology

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 23, 2026 · filings through Apr 30, 2026

How the score breaks down

Quality

Mixed

Growth

Good

Cash Flow

Mixed

Stability

Good

Valuation

Data not available

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Winston Score History

The full picture

Asana is a software company that makes work management tools used by teams at businesses of all sizes. Its platform lets employees organize tasks, track projects, and coordinate with coworkers — all in one place online. Customers range from small startups to large enterprises, and Asana competes in the broader productivity and collaboration software market alongside tools like Monday.com and Microsoft Project.

Asana makes money by charging businesses a monthly or annual subscription fee, with higher-priced tiers unlocking more features and admin controls. The company operates globally, with a significant portion of revenue coming from outside the United States, and it generates strong gross margins above 88%. However, Asana is not yet profitable at the operating level, and its key challenge is converting free or low-paying users into higher-value enterprise contracts fast enough to reach profitability before its cash reserves become a concern.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+9.2% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+48.1% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

61.2%ownership

↑ Rising

Insiders increasing their stake — aligned with shareholders

Cash Position

Cash flow positive

$434M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

Asana is growing revenue at 9% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

87.6%

Premium pricing power — 87.6% gross margin

Profit after running costs

Operating Margin

-7.2%

Losing money on operations — -7.2%

Return on the money invested

ROCE

-113.4%

Weak — -113.4% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

+9.5%

Steady sales growth (+9.5% YoY)

Profit growth

EPS YoY

N/A

—

Data not available

How steady the profit is

EPS Consistency

7/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

—

Data not available

Spare cash per sale

FCF Margin

13.9%

Converts sales into free cash efficiently (13.9%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns

Debt / Equity

0.28

Conservative — low debt load (0.28)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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