Communication Services · Interactive Media & Services · US stock · price as of 16 Oct 2026
Key indicators
Price
$156.14
52-week range
$119.27 – $263.50
Market cap
$31.5B
P/E (trailing)
36.3×
EV / EBITDA
35.9×
Free-cash-flow yield
3.2%
Dividend yield
–
Revenue (last 12 months)
$2.8B
Revenue growth (3y a year)
48.9%
Operating margin
28.2%
Return on invested capital
141.5%
Net debt / EBITDA
–
Fair value
Blended fair value$129.23 range $120 – $140
Versus priceData under review+0% to fair value
Peer multiples
$90.32
Fundamentals-adjusted multiple
$160.75
10-year DCF (market-scaled)
$136.61
Earnings power value (floor, not blended)
n/m
Model uncertainty
High
X-Ray Score
65/ 100 · Medium confidence · ahead of 89% of sector peers
Valuation30
Growth92
Profitability64
Financial health84
Dividends–
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
Reddit operates a social platform made up of thousands of topic-based communities where users post, comment and vote on content. Moderation is carried out largely by volunteer community members. The company earns most of its money from advertising shown alongside user content, and it also licenses its large body of user-generated text to technology firms for use in training artificial intelligence systems. Its audience is global, and activity is driven by user participation.
Revenue over the last twelve months was $2.8 billion, with growth of 48.9% a year over three years. The operating margin stands at 28.2%. The return on invested capital is shown as 141%. The company does not pay a dividend. These numbers describe past results and current financial position, and they are shown for reference only.
StocksXray gives Reddit, Inc. an X-Ray Score of 65 out of 100 (medium confidence), ahead of 89% of the S&P 500 stocks in its sector. Its strongest lens is growth (92) and its weakest is valuation (30).
Our fair value blend is $129.23 (range $119.74 to $140.14). At $156.14 the stock trades 21% above that blend, so the label is "Data under review" with high model uncertainty. Fair value is a range, not a price target.
XStocksXray
Reddit, Inc. (RDDT)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2022
FY2023
FY2024
FY2025
Now
Price
–
–
$163.44
$229.87
$156.14
Market cap
–
–
$23.8B
$46.5B
$31.5B
P/E
–
–
–
87.7×
36.3×
EV / revenue
–
–
16.9×
20.0×
10.3×
EV / EBITDA
–
–
–
96.0×
35.9×
Price / free cash flow
–
–
110.2×
67.9×
31.0×
Free-cash-flow yield
–
–
0.9%
1.5%
3.2%
Price / book
–
–
11.2×
15.9×
9.6×
Dividend yield
–
–
–
–
–
Fundamentals checklist ● 9 Good · ● 2 Average · ● 2 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−4.3%Average
Free-cash-flow yield3.2%Average
Risk models
Altman Z score16.9×Good
Piotroski F-Score7 of 9Good
Growth
Revenue growth (3y)48.9%Good
Growth consistency100%Good
Balance sheet
Current ratio10.5×Good
Interest coverno interest costGood
Valuation
Fair value vs price0.8×Bad
EBIT / EV yield2.7%Bad
Profitability
Return on invested capital141.5%Good
Operating margin28.2%Good
Gross profitability69.9%Good
Red flags
Heavy dilution — Share count up more than 5% year on year
XStocksXray
Reddit, Inc. (RDDT)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY22
FY23
FY24
FY25
LTM
Revenue
667
804
1,300
2,203
2,779
Gross profit
562
693
1,177
2,008
2,541
Operating income
-172
-140
-561
442
785
Net income
-159
-91
-484
530
871
Diluted EPS ($)
-2.77
-1.54
-3.33
2.62
4.31
Free cash flow
-100
-85
216
684
1,019
Gross margin
84.3%
86.2%
90.5%
91.2%
91.4%
Operating margin
−25.8%
−17.4%
−43.1%
20.1%
28.2%
Net margin
−23.8%
−11.3%
−37.2%
24.1%
31.4%
Balance sheet
FY22
FY23
FY24
FY25
LTM
Total assets
–
1,596
2,337
3,239
3,637
Cash
436
401
562
954
1,487
Total debt
–
–
–
–
–
Equity
-379
-413
2,131
2,929
3,286
Dividend per share ($)
–
–
–
–
–
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.