PATH UiPath, Inc.

Overview and Growth

In fiscal 2026, UiPath, Inc. recorded $1.61B of revenue, net income of $282.33M, and an operating cash inflow of $371.21M. The $1.61B revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. Revenue was 12.7% above fiscal 2025 revenue of $1.43B, marking a year-over-year increase. The company reported diluted EPS of $0.52, adding a shareholder-level measure to the absolute income figures considered below. The company employed $3.18B of total assets, the balance-sheet base supporting its current operating and cash-flow results. Asset turnover was 0.51x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

The first profit layer was $1.34B of gross profit, the amount available after reported direct revenue costs to absorb operating expenses. Gross margin was 83.2%, so that share of each revenue unit remained after the cost of revenue reported for the period. The reported operating result was $56.76M, capturing profitability after direct costs and the operating expenses reflected in the statements. Operating margin measured 3.5%, showing the portion of revenue preserved after the full set of operating costs. After all reported below-operating-line items, the company recorded net income of $282.33M for the fiscal year. Net margin was 17.5%, meaning that this portion of revenue remained as net income after all recognized expenses. Before income taxes, the company reported $100.63M of earnings, providing a bridge between the operating result and final net income. Measured against revenue, pretax income equaled 6.2%, adding a pre-tax profitability layer between revenue and net income. The company recognized an income-tax benefit of $181.70M, increasing after-tax earnings relative to the pretax result. Relative to positive pretax income, the tax benefit measured 180.6%. Return on period-end equity was 13.6%, relating annual net income to the equity capital on the balance sheet. Return on period-end assets was 8.9%, connecting net income with the company’s total asset base.

Liquidity and Capital Structure

The company held $3.18B of assets against $1.10B of liabilities and $2.08B of equity, revealing how the asset base was financed. The near-term balance sheet paired $2.24B of current assets with $905.42M of current liabilities at the reporting date. Current assets covered current liabilities by 2.48x, leaving a positive buffer for near-term obligations. Reported cash and equivalents were $871.16M, separating immediately recognizable cash resources from the rest of the current-asset base. Cash and equivalents represented 96.2% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. Liabilities represented 34.5% of total assets, quantifying the liability-funded share of the company’s resource base. The cash-to-assets relationship was 27.4%, comparing reported cash and equivalents with the full positive asset balance. Compared with $2.87B in fiscal 2025, the current asset base moved 11.0% and finished higher. Against $1.85B of equity in fiscal 2025, the current book-equity balance moved 12.8% and ended higher.

Cash Flow and Earnings Quality

The company reported $371.21M of operating cash flow, a cash inflow that shows the cash generated by operations. Against net income, operating cash flow measured 1.31x, showing the relationship between accrual earnings and operating cash. Capital spending was $19.05M, absorbing part of the cash generated from operations before free cash flow. Capital expenditures represented 5.1% of operating cash flow, leaving the remainder available as free cash flow. The combination of operating cash flow and capital spending produced $352.16M of positive free cash flow for the period. Free cash flow represented 21.9% of revenue, linking post-investment cash generation with the company’s operating scale. Measured against total assets, free cash flow represented 11.1%, showing the cash productivity of the company’s assets.

Based on the annual report for the fiscal year ending Jan 31, 2026. Analysis generated Sep 24, 2026.