The Idiot Index

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Sector
MarkupApplied to enterprise and developer-platform software companies. COGS captures hosting, support, and customer-success costs; the Markup Ratio is meaningful but the Operational Markup is the load-bearing indicator because most platform investment flows through OpEx (R&D, S&M).
OrderHighest first

Markup in Software Platform · FY 2023

24 of 40 companies · highest first
  1. 1
    ADBEAdobe
    $1 of cost becomes $8.46 of revenue
    sector median 3.7286Top 2%
    8.4638
    × revenue / cost
  2. 2
    HUBSHubSpot
    $1 of cost becomes $5.02 of revenue
    sector median 3.7286Top 6%
    5.0246
    × revenue / cost
  3. 3
    SNPSSynopsys
    $1 of cost becomes $4.88 of revenue
    sector median 3.7286Top 10%
    4.8785
    × revenue / cost
  4. 4
    DBXDropbox
    $1 of cost becomes $4.86 of revenue
    sector median 3.7286Top 15%
    4.8579
    × revenue / cost
  5. 5
    PLTRPalantir
    $1 of cost becomes $4.54 of revenue
    sector median 3.7286Top 19%
    4.5429
    × revenue / cost
  6. 6
    ZSZscaler
    $1 of cost becomes $4.48 of revenue
    sector median 3.7286Top 23%
    4.4779
    × revenue / cost
  7. 7
    NETCloudflare
    $1 of cost becomes $4.46 of revenue
    sector median 3.7286Median range
    4.4614
    × revenue / cost
  8. 8
    DDOGDatadog
    $1 of cost becomes $4.39 of revenue
    sector median 3.7286Median range
    4.3919
    × revenue / cost
  9. 9
    UUnity
    $1 of cost becomes $4.38 of revenue
    sector median 3.7286Median range
    4.3785
    × revenue / cost
  10. 10
    NOWServiceNow
    $1 of cost becomes $4.36 of revenue
    sector median 3.7286Median range
    4.3577
    × revenue / cost

Not yet covered (16)

These companies are in the Software Platform cohort but don't have a Markup computed for FY 2023. Either the underlying inputs aren't tagged in their XBRL filings, the DEF 14A pay-ratio narrative didn't parse cleanly, or this fiscal year hasn't been ingested for them yet.

What this measures

Full methodology →

How much revenue per dollar of cost.

Ratio
Markup
Sector
Software Platform
Methodology version
v1.0.0
Formula
Revenue / COGS
Sector context

Applied to enterprise and developer-platform software companies. COGS captures hosting, support, and customer-success costs; the Markup Ratio is meaningful but the Operational Markup is the load-bearing indicator because most platform investment flows through OpEx (R&D, S&M).

Captures gross extraction per dollar of input. A markup ratio of 5.0 means the company collects $5 in revenue for every $1 of cost-of-goods.

Source data: Revenues (us-gaap:Revenues / ifrs-full:Revenue) and CostOfGoodsAndServicesSold (us-gaap) or CostOfSales (ifrs-full).