Quality Investor

UiPath, Inc.

Rank #99Capital Return

PATH · NYSE · Technology

UiPath, Inc. (PATH) — Rank #99 by gross profitability (GP/assets 0.46) · ROE 14.5% · Piotroski F-Score 7 / 9.

As-of 2026-09-15 · CIK 0001734722 · all metrics point-in-time as of the filing date.

About

UiPath, Inc. provides an automation platform that offers a range of robotic process automation (RPA) solutions primarily in the United States, Romania, the United Kingdom, the Netherlands, and internationally.

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It offers the UiPath platform, an integrated enterprise software platform that enables AI agents, robots, people, and models to work together in coordinated workflows. The company's UiPath platform includes the UiPath Maestro process orchestration and process intelligence; UiPath agent builder; RPA and API automation; UiPath intelligent xtraction and processing; UiPath test cloud for testing and quality assurance; UiPath packaged and prebuilt agentic solutions; and centralized governance capabilities that apply across automations, AI agents, and manual tasks. It serves the financial services, healthcare, manufacturing, retail, and public sectors.

The company was founded in 2005 and is headquartered in New York, New York.

Industry
Software - Infrastructure
Sector
Technology
State
DE
Filer Category
Large accelerated filer
Fiscal Year End
January 31
Website
uipath.com

Price History

PATH-78.3% · -26.3% CAGRSPY+80.5% · +12.5% CAGR

Company Snapshot

P/E and reverse DCF are the primary valuation lenses at this stage.

Market Cap

$7.57B

P/E (annual)

28.0

P/S (annual)

4.7

P/B

3.9

P/OCF (annual)

20.4

Shareholder Yield

2.7%

Employees

3,981

Industry

Software - Infrastructure

Exchange

NYSE

Signal Flags

4 green
Revenue growth acceleratingGrowth rate increasing year over year
Deferred revenue growingRevenue and deferred revenue both growing — retention signal
RPO outpacing revenueRemaining performance obligations growing faster than recognized revenue — forward demand building
Sequential beat (rev + EPS)Both revenue and EPS exceeded prior quarter — 1-quarter streak

Quality Profile

Profitability

1/1 pass
GP / assets
0.46
Return on equity
14.5%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
0.49
Current ratio
2.39×
Net cash
$1.30B

Cash Flow

3/3 pass
Positive FCF
PASS
Cash-backed earnings
PASS
Accruals healthy
PASS
SBC / revenue
18.0%

Growth

2/2 pass
Revenue growth
12.7%
Piotroski F-Score
7 / 9
Share dilution
-2.7%

Terry Smith quality gate

Passes 2/5 Terry Smith thresholds

1 of 5 threshold not computable from filed data.

What Growth Is Priced In

Implied revenue growth (10Y)

9.3%

incredible deal

The annual FCF growth rate today's price requires over a 10-year horizon (discount rate 10%, terminal growth 2.5%).

Buyback tailwind: -2.7% — per-share value needs a total required return of 6.6% once share-count change is priced in.

vs. own 6-year median revenue growth: 21.1%

within its own history

Cost-of-equity sensitivity (implied growth at different discount rates)

r = 8%

4.9%

r = 10% (base)

9.3%

r = 12%

13.1%

Net debt / market cap: -16.4%

Base FCF: $352.2M3Y mean FCF: $316.5M

Valuation History

Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.

P / S

Price / revenue per share

3.7xCheap
3.7xmed 8.2x11.6x

P / B

Price / book value per share

2.9xCheap
2.9xmed 4.5x6.4x

P / GP

Price / gross profit per share

4.4xCheap
4.4xmed 9.9x14.3x

P / FCF

Price / free cash flow per share

16.9xCheap
16.9xmed 32.3x140.9x

FCF yield, shareholder yield, and buyback activity are the primary reads at this stage.

Profitability

Gross profitability (GP / assets)

0.46

Primary signal (Novy-Marx).

65th pctl of 38 SIC 7372 peers

Return on equity

14.5%

Gross margin

83.2%

92nd pctl of 38 SIC 7372 peers

Revenue growth (YoY)

12.7%

RPO growth (YoY)

18.7%

Remaining performance obligations growth — RPO > revenue = forward demand building.

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2023202420252026
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

15.0%

Revenue CAGR (5Y)

21.5%

Earnings CAGR (3Y)

FCF CAGR (3Y)

Anti-fragile safety

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

0.49

66th pctl of 33 SIC 7372 peers (best = lowest)

Current ratio

2.39×

70th pctl of 38 SIC 7372 peers

Quick ratio

1.97×

Net cash

$1.30B

Cash & equivalents minus total debt.

Cash-flow health

Free cash flow

$352.16M

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF / net income

0.25

Cash-backing of earnings.

FCF/NI divergence

Unfavorable divergence (yellow flag).

PASS

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

18.0%

Stock-based comp intensity.

Piotroski F-Score

F-Score

7 / 9

Fundamental-strength score (0-9).

Lifecycle Phase History

20212026
Hypergrowth
Startup
Capital Return