ROIC (Return on Invested Capital): [ROIC (Return on Invested Capital)]
Debt/Equity: N/A (Missing Liabilities)
Free Cash Flow Yield: [Free Cash Flow Yield]
Free Cash Flow Trend: [Free Cash Flow Trend]
2. Financial Trends
3. Historical Data
Year
Revenue
Net Income
Gross Profit
Op. Cash Flow
2024
376.81M
8.24M
311.34M
47.00M
2023
307.68M
950000.00
255.35M
7.99M
2022
254.32M
-33.85M
205.76M
-9.62M
2021
188.00M
-3.29M
146.07M
23.76M
2020
124.88M
-7.01M
94.94M
5.85M
4. Competitive Advantage (Moat)
Type of Moat: Data (Proprietary and Industry)
Strength: Wide
Description: Semrush possesses a rich and extensive data set, including 27 billion keywords, 43 trillion backlinks, and over 800 million domains, which is augmented with LLM data. This comprehensive data combined with proprietary algorithms provides unmatched insights and differentiates Semrush from competitors, especially in the emerging AI search landscape.
5. Management Quality
CEO: Bill Wagner
Capital Allocation: Focus on organic investment in AI and Enterprise, selective M&A, and share repurchases. Prioritizes reinvestment into the business, especially in AI and Enterprise product development and go-to-market strategies.
Tone: Optimistic
Key Quotes:
"AI search isn't replacing the SEO opportunity, it's compounding it."
"We've helped define the SEO playbook and as our Q3 results highlight, we're doing it again for AI search."
6. Growth Prospects
Total Addressable Market (TAM): [Size and Growth Rate]
Market Share: [Current share and potential to gain]
New Products/Services: [Pipeline]
7. Scuttlebutt & Soft Data
Customer Reviews: [Trends in customer satisfaction]
Employee Feedback: [Glassdoor ratings, turnover]
Channel Checks: [Insights from suppliers or distributors]
8. Valuation
P/E Ratio: [Current vs. Historical vs. Peers]
EV/EBITDA: [Current vs. Historical vs. Peers]
DCF Fair Value: [Estimate]
9. Risks
[Risk 1: Currency exchange rate fluctuations impacting margins due to a significant portion of expenses being denominated in euros.]
[Risk 2: Potential litigation impacting the ability to execute share repurchases.]
[Risk 3: Competition in the AI optimization space from numerous start-ups, although management believes Semrush's SEO foundation, data, and brand provide a strong competitive advantage.]
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