# Guidewire Software, Inc. (GWRE)

> Source: Nexqual · https://nexqual.com/GWRE · data as of 2026-10-23 15:50 UTC · cite as "Nexqual, Guidewire Software, Inc. (GWRE), nexqual.com/GWRE" · informational, not investment advice.

**Price:** USD 189.25 (-0.21% today) · US market open, as of October 23, 2026 at 15:50 UTC; quotes may be delayed. Prev close 189.64 · day 186.44–191.33 · 52w 102.3–255.89 · market cap $15.5B · NYQ

## Key facts
- Last four reported quarters (through Jul 31, 2026): revenue $1.48B, net income $139M (9.4% margin), free cash flow $378M (SEC filings).
- Valuation: P/E 111.4x (avg 185.8x at the last 2 fiscal year-ends), EV/EBITDA 86.8x, net cash $75.0M.
- 1 of 80 tracked superinvestors hold GWRE (13F, Q2 2026): 0 new, 1 added, 0 reduced, 0 unchanged.
- Analysts: Buy (mean 1.88 on a 1–5 scale) (16 analysts), mean target USD 213.29 (range 170–258).
- Total return with dividends: 1Y -25.0% vs S&P 500 +14.7%; 5Y +50.5% vs S&P 500 +77.4%.
- Next earnings: 2026-12-03, EPS estimate USD 0.72, revenue estimate $376M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $813M | $905M | $980M | $1.20B | $1.48B | $1.48B |
| Gross profit | $377M | $458M | $583M | $752M | $947M | — |
| Operating income | -$199M | -$149M | -$52.6M | $41.1M | $150M | $150M |
| Net income | -$180M | -$112M | -$6.1M | $69.8M | $139M | $139M |
| EPS (diluted) | -$2.16 | -$1.36 | -$0.07 | $0.81 | $1.63 | — |
| Free cash flow | -$47.5M | $32.6M | $189M | $295M | $378M | $378M |
| Gross margin | 46.4% | 50.6% | 59.5% | 62.5% | 64.2% | — |
| Operating margin | -24.5% | -16.5% | -5.4% | 3.4% | 10.2% | 10.2% |
| Net margin | -22.2% | -12.4% | -0.6% | 5.8% | 9.4% | 9.4% |
| Revenue growth | +9.3% | +11.4% | +8.3% | +22.6% | +22.7% | — |
| Cash + short-term investments | $976M | $799M | $1.00B | $1.15B | $753M | — |
| Total debt | $358M | $397M | $399M | $675M | $678M | — |
Fiscal years end Jul. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jul 31, 2026)
P/E 111.4x · P/S 10.5x · EV/EBITDA 86.8x · EV/Sales 10.5x · P/FCF 41.1x · P/B 13.0x · FCF yield 2.43% · Earnings yield 0.90% · Net cash $75.0M · EV $15.4B
P/E at fiscal year-ends: Jul 2026 93.2x, Jul 2025 278.4x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold GWRE. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Bryan Lawrence | Oakcliff Capital | 7.27% | $19.5M | Added +10.1% |

## Analysts
Consensus Buy (mean 1.88 on a 1–5 scale), 16 analysts; mean target USD 213.29 (low 170, high 258).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-02 | DA Davidson | Maintained | Buy | $222 |
| 2026-09-09 | DA Davidson | Maintained | Buy | $222 |
| 2026-09-04 | Citigroup | Target raised | Neutral | $137 → $181 |
| 2026-09-04 | Oppenheimer | Target raised | Outperform | $200 → $210 |
| 2026-09-04 | DA Davidson | Maintained | Buy | $222 |
| 2026-09-04 | Wells Fargo | Target raised | Overweight | $190 → $195 |
| 2026-09-04 | RBC Capital | Reiterated | Outperform | $215 |
| 2026-09-04 | Citizens | Reiterated | Market Outperform | $220 |
| 2026-09-04 | BTIG | Target lowered | Buy | $230 → $220 |
| 2026-09-04 | Needham | Reiterated | Hold |  |
| 2026-09-04 | Piper Sandler | Maintained | Overweight | $210 |
| 2026-09-02 | BTIG | Target raised | Buy | $175 → $230 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -25.0% | +50.5% |
| S&P 500 (SPY) | +14.7% | +77.4% |
| Per year | -25.1% | +8.5% |
| Volatility (annualized) | 61.8% | 43.9% |
| Max drawdown | -59.4% (Oct 2025→Jun 2026) | -58.6% (Sep 2025→Jun 2026) |

## Peers (Software - Application)
DOCU (DocuSign, Inc.) USD 84.75 +0.40% · TYL (Tyler Technologies, Inc.) USD 388.27 -1.07% · MANH (Manhattan Associates, Inc.) USD 241.5 -0.28% · HUBS (HubSpot, Inc.) USD 268.66 +0.55% · U (Unity Software Inc.) USD 41.53 +3.13% · FICO (Fair Isaac Corporation) USD 812.98 -1.25%

## More
Full page: https://nexqual.com/GWRE · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in GWRE's own 10-K filed 2026-09-11 (https://www.sec.gov/Archives/edgar/data/1528396/000152839626000046/gwre-20260731.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Amazon (AMZN) | "We utilize services and technology and intellectual property provided or licensed by unaffiliated third parties to operate our products, including AWS, Okta and Datadog." |

## Revenue by product line (quarter ended 2026-07-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Subscription and support | $266.7M | 64.9% | +32.1% |
| — Subscription (part of Subscription and support) | $253.5M | 61.7% | +35.9% |
| — Support (part of Subscription and support) | $13.3M | 3.2% | -14.1% |
| License | $77.1M | 18.8% | -17.7% |
| Services | $67.3M | 16.4% | +10.2% |
| Total revenue | $411.1M | 100% | — |

## Revenue by region (quarter ended 2026-07-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Total Americas | $309.1M | 75.2% | +12.8% |
| — U.S. (part of Total Americas) | $254.4M | 61.9% | +10.2% |
| — Canada withholding tax refund (part of Total Americas) | $47.6M | 11.6% | +22.8% |
| — Other Americas (part of Total Americas) | $7.1M | 1.7% | +58.9% |
| Total EMEA | $68.4M | 16.6% | +12.6% |
| Total APAC | $33.6M | 8.2% | +53.8% |
| Total revenue | $411.1M | 100% | — |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-10-31) | $0.72 | $0.80 | -9.3% | $376.3M | 15 |
| Next quarter (ends 2027-01-31) | $1.07 | $1.04 | +2.9% | $418.6M | 14 |
| Current fiscal year (ends 2027-07-31) | $4.19 | $4.08 | +2.6% | $1.72B | 15 |
| Next fiscal year (ends 2028-07-31) | $5.35 | $5.06 | +5.7% | $1.99B | 15 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-12-18 (includes earnings 2026-12-03): ±19.7%; earnings reaction alone ±8.5%; last 8 reports averaged ±12.1%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 57.5% | ±12.7% |
| 2026-12-18 | 56 | 63.0% | ±19.7% |
| 2027-01-15 | 84 | 58.5% | ±22.3% |
| 2027-04-16 | 175 | 59.0% | ±32.3% |
| 2027-11-19 | 392 | 57.3% | ±46.3% |