Fastly

FSLY

Software - Application · Technology

Exchange

NASDAQ

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

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

How the score breaks down

Quality

Mixed

Growth

Strong

Cash Flow

Weak

Stability

Mixed

Valuation

Data not available

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Winston Score History

The full picture

Fastly is a cloud computing company that helps websites and apps load faster and stay secure. It runs what is called an "edge cloud" network — a system of servers placed close to users around the world so that content like videos, images, and web pages can be delivered quickly. Major customers include media companies, e-commerce platforms, and technology firms that need fast, reliable content delivery.

Fastly makes money by charging customers based on how much data they send through its network, which is a usage-based model rather than a flat subscription fee. The company operates globally but earns most of its revenue in the United States. Its edge network and developer-friendly tools give it some competitive differentiation, but it faces intense competition from larger rivals like Cloudflare and Amazon Web Services. The biggest challenge Fastly faces is reaching profitability — it continues to post operating losses, and converting its strong gross margins into consistent net income remains the central test for the business going forward.

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

+23.3% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+61.5% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

7.2%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$337M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Growth + cash flow

Fastly is a rare growth stock that's already generating positive cash flow while growing at 23%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

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

63.3%

Premium pricing power — 63.3% gross margin

Profit after running costs

Operating Margin

-7.9%

Losing money on operations — -7.9%

Return on the money invested

ROCE

-6.2%

Weak — -6.2% 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

+20.4%

Fast-growing sales (+20.4% 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

7.2%

Modest free cash flow (7.2%)

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

0.33

Conservative — low debt load (0.33)

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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