This stock no longer trades (delisted March 18, 2026)

Delisted / no longer publicly traded (per market data provider) Everything below is based on the last available data — treat it as historical, not a live read.

Confluent

CFLT

Software - Infrastructure · Technology

Price

$30.99

+0.00 (+0.00%)

Market Cap

$11.08B

Winston Score

Historical score — this stock no longer trades, so the score is frozen at the last available data.

Data as of Aug 23, 2026 · filings through Dec 31, 2025

How the score breaks down

Quality

Mixed

Growth

Strong

Cash Flow

Weak

Stability

Mixed

Valuation

Data not available

Share count rising — dilution

+26.5% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 271.8M (2021) → 343.8M (2025)

Winston Score History

The full picture

Confluent builds software that helps companies move data in real time between different computer systems. Its main product is based on Apache Kafka, an open-source technology that acts like a high-speed highway for data streams. Large businesses in finance, retail, and technology use Confluent to make sure their apps and databases are always working with up-to-date information.

Confluent makes money primarily through subscriptions — companies pay a recurring fee to use its cloud-based platform or run its software on their own servers. It operates globally, with customers across North America, Europe, and Asia, and generates over $900 million in annual revenue. Its main competitive advantage is being the company founded by the original creators of Apache Kafka, giving it deep technical credibility, though it faces real competition from cloud giants like Amazon and Google who offer their own Kafka-compatible services at lower prices.

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

+20.5% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+14.8% YoY

YoY Growth Rate

Steady EPS growth

R&D Spend

$452M/ year

↑ Rising (+7% vs prior year)

38.7% of revenue

2.6x the sector average (15%)

Investing heavily in future products and technology

Insider Activity

14.5%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$2.1B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Heavy R&D investment

Confluent is putting 39% of revenue into R&D and that number is rising. That's 2.6x the sector average. And they're generating enough cash to self-fund it.

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

74.7%

Premium pricing power — 74.7% gross margin

Profit after running costs

Operating Margin

-25.3%

Losing money on operations — -25.3%

Return on the money invested

ROCE

-15.9%

Weak — -15.9% 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

+21.1%

Fast-growing sales (+21.1% YoY)

Profit growth

EPS YoY

N/A

—

Data not available

How steady the profit is

EPS Consistency

8/8 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

4.3%

Thin free cash flow (4.3%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

0.94

Moderate — manageable debt (0.94)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

—

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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