Fastly, Inc.
$3.28B- Market cap
- $3.28B
- Debt
- +$361.84M
- Cash
- −$361.76M
Capital structure 90% equity / 10% debt · EV / Revenue 5.26x
Compare price, profitability, solvency, and SEC-reported financials side by side—before deciding which assumptions deserve a closer look.
FY 2025 · Mkt capMarket cap $3.28B · View financials
Snapshot Sep 4, 4:00 PM ET
FY 2025 · Mkt cap
Decision snapshot: FSLY stock price at premium vs NI $20.59 current versus $11.92 implied using P/S multiple.
Quick read
Each company valued on the other's multiple, then compared with the market price.
Implied fair value · at NI's multiple
Implied fair value · at FSLY's multiple
Snapshot Sep 4, 4:00 PM ET
Metric by metric
Where each company leads, and how wide the gap is.
Growth lag
Pricing power
Operating leverage
Multiple discount
Not comparable
Lower leverage
Statements
Core statements aligned to each company's latest fiscal year.
SEC periods: FSLY FY 2025 (ended Dec 31, 2025) · NI FY 2025 (ended Dec 31, 2025).
Trendline
Ten fiscal years of revenue, earnings, and margins before underwriting a re-rating.
Price framework
Market cap plus debt, less cash.
Capital structure 90% equity / 10% debt · EV / Revenue 5.26x
Capital structure 55% equity / 45% debt · EV / Revenue 5.51x · EV / EBITDA 12.95x
NI carries the larger enterprise value at $35.93B against $3.28B; FSLY trades on the lower EV / Revenue multiple (5.26x vs 5.51x).
Price framework
The same filing-backed model used on each company's valuation page, with company-specific inputs and calculated scenarios.
Fastly, Inc. · implied price per share
At least 3 of the last 5 annual free-cash-flow observations must be positive.
NISOURCE INC. · implied price per share
Latest annual free cash flow must be positive to qualify the filing-backed baseline.
Balance sheet health
Financial health checks to separate durable balance sheets from potential value traps.
Financial strength on a 0–9 scale.
Bankruptcy-risk signal from balance sheet and earnings power.
Debt / equity
Total debt against shareholders' equity
0.39x
1.71x
Net debt / EBITDA
Leverage against operating earnings
-0.01x
5.80x
Cash and equivalents
Liquid reserves on the balance sheet
$361.76M
$110.10M
Total debt
Interest-bearing obligations outstanding
Comparable set
Where the pair sits against the wider comparable set.
Keep comparing
Open adjacent comparisons from the same industry to pressure-test the read across multiple pairs.
Cloudflare, Inc.
FSLY vs NET
AKAMAI TECHNOLOGIES INC
FSLY vs AKAM
Lumen Technologies, Inc.
FSLY vs LUMN
CISCO SYSTEMS, INC.
FSLY vs CSCO
VIASAT INC
FSLY vs VSAT
Zscaler, Inc.
FSLY vs ZS
CENTERPOINT ENERGY INC
FSLY vs CNP
ATMOS ENERGY CORP
FSLY vs ATO
DOMINION ENERGY, INC
FSLY vs D
SEMPRA
FSLY vs SRE
UGI CORP /PA/
FSLY vs UGI
FIRSTENERGY CORP
FSLY vs FE
$361.84M
$16.19B
LLM-powered synthesis
An on-demand narrative read of the same deterministic data.
The deterministic comparison remains available. Sign in when you want an on-demand narrative synthesis of the same data.