Twilio
TWLO on NYSE. Twilio sells messaging, voice, email and video tools to businesses. Market value $46.2bn.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Technology stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $2.30 of spare cash in the past 12 months. A savings account pays about $4.
You pay 149.1 years of operating profit for the business. The average large US company costs around 18.
Each dollar kept in the business earns -7 cents a year. Above 10 is good.
Quality score: 52 of 100. Price score: 27 of 100. Our list needs 70 on quality and 60 on price.
$280.41 a share, 168% above its 1-year low
Over the past year the price has ranged from $104.50 to $308.40.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $2.8bn | $3.8bn | $4.2bn | $4.5bn | $5.1bn |
| Operating margin | |||||
| Operating margin | -32.2% | -31.5% | -21.1% | -1.2% | 3.1% |
| Debt to equity | |||||
| Debt to equity | 0.09 | 0.10 | 0.10 | 0.12 | 0.13 |
| Shares outstanding | |||||
| Shares outstanding | 0.18bn | 0.18bn | 0.15bn | 0.15bn | 0.15bn |
Health checks
- Free cash flow positive3 of 5 years
- Accounting looks honest (Beneish)Nothing unusual
- Financial strength (Piotroski)6 of 9
- Profit backed by cash (accruals)Yes
- Debt0.13× equity
- Revenue growth, five yearsStrong, 23.5% a year
- Buying back its own sharesYes, 15% fewer since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $1.5 billion last quarter, up 22% on a year ago.
- Profit: $1.1 billion, up 4659% on a year ago.
- It keeps 5 cents of each $1 of sales as operating profit, up from 1 cents a year earlier.
- Spare cash over the past 12 months: $989 million, up from $724 million.
- About the same number of shares as a year ago.
- Debt is $170 million more than cash, up from $22 million a year ago.
- Sales grew on a year ago in each of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $1.1bn |
| December 2024 | $1.2bn |
| March 2025 | $1.2bn |
| June 2025 | $1.2bn |
| September 2025 | $1.3bn |
| December 2025 | $1.4bn |
| March 2026 | $1.4bn |
| June 2026 | $1.5bn |
| Quarter to | Amount |
|---|---|
| September 2024 | -$10m |
| December 2024 | -$12m |
| March 2025 | $20m |
| June 2025 | $22m |
| September 2025 | $37m |
| December 2025 | -$46m |
| March 2026 | $90m |
| June 2026 | $1.1bn |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 24 February 2026
- Next quarterly (estimated, 10-Q)
- 6 November 2026
Who owns it
5 long-term investors we follow own it, down from 6 last quarter. 964 funds in all.
- LSV Asset ManagementJosef Lakonishok
- Value
- $4m
- Share of fund
- <0.1%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Sachem Head CapitalScott Ferguson | $128m | 2.7% | Cut |
| Boston PartnersBoston Partners team | $30m | <0.1% | Added |
| LSV Asset ManagementJosef Lakonishok | $4m | <0.1% | |
| Gotham Asset ManagementJoel Greenblatt | $2m | <0.1% | Cut |
| Polen CapitalDan Davidowitz | $1m | <0.1% | Added |
Sold out this quarter
Largest holders overall
- BlackRock$3.4bn
- JPMorgan Chase$2.4bnAdded
- FMR$2.3bnCut
- Vanguard Portfolio Management$1.6bnCut
- Vanguard Capital Management$1.4bn
- State Street$1.2bnAdded
- Geode Capital Management$592m
- Alkeon Capital Management$482mAdded
- Royal Bank of Canada$464mCut
- Pictet Asset Management Holding SA$464mCut
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
5 investors own more than 5%.
- BlackRock, Inc.Passive investor10.7%Since 29 August 2025
- JPMORGAN CHASE & CO.Passive investor8.0%+2.0 ptsSince 30 June 2026
- FMR LLCPassive investorat least 7.0%+1.6 pts(filed with 1 related holder)Since 31 December 2025
- Vanguard Capital ManagementPassive investor5.3%Since 31 March 2026
- Vanguard Portfolio ManagementPassive investor5.3%Since 31 March 2026
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
BlackRock, Inc. Passive investor | 10.7% | 29 August 2025 | |
JPMORGAN CHASE & CO. Passive investor | 8.0%+2.0 pts | 30 June 2026 | |
FMR LLC Passive investor | at least 7.0%+1.6 pts (filed with 1 related holder) | 31 December 2025 | |
Vanguard Capital Management Passive investor | 5.3% | 31 March 2026 | |
Vanguard Portfolio Management Passive investor | 5.3% | 31 March 2026 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 4 sold $616m, $31m of it under preset trading plans.
- Viggiano AidanChief Financial OfficerSold
- Date
- 30 September 2026
- Shares
- 9,084
- Price
- $294.65
- Value
- $3m
- Shipchandler KhozemaChief Executive Officer, DirectorSold
- Date
- 30 September 2026
- Shares
- 13,898
- Price
- $294.08
- Value
- $4m
- Viggiano AidanChief Financial OfficerSold
- Date
- 17 August 2026
- Shares
- 1,394
- Price
- $234.48
- Value
- $326,863
- Stafman AndrewDirectorSold
- Date
- 12 August 2026
- Shares
- 500,000
- Price
- $247.08
- Value
- $124m
- ROTTENBERG ERIKADirectorSoldunder a preset trading plan
- Date
- 10 August 2026
- Shares
- 3,500
- Price
- $251.82
- Value
- $881,378
- Shipchandler KhozemaChief Executive Officer, DirectorSoldunder a preset trading plan
- Date
- 6 July 2026
- Shares
- 14,458
- Price
- $210.43
- Value
- $3m
- Viggiano AidanChief Financial OfficerSoldunder a preset trading plan
- Date
- 2 July 2026
- Shares
- 8,528
- Price
- $205.43
- Value
- $2m
- Viggiano AidanChief Financial OfficerSold
- Date
- 30 June 2026
- Shares
- 9,093
- Price
- $201.25
- Value
- $2m
- Shipchandler KhozemaChief Executive Officer, DirectorSold
- Date
- 30 June 2026
- Shares
- 13,881
- Price
- $201.26
- Value
- $3m
- Shipchandler KhozemaChief Executive Officer, DirectorSoldunder a preset trading plan
- Date
- 4 June 2026
- Shares
- 44,158
- Price
- $235.88
- Value
- $10m
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 30 September 2026 | Viggiano Aidan Chief Financial Officer | Sold | 9,084 | $294.65 | $3m |
| 30 September 2026 | Shipchandler Khozema Chief Executive Officer, Director | Sold | 13,898 | $294.08 | $4m |
| 17 August 2026 | Viggiano Aidan Chief Financial Officer | Sold | 1,394 | $234.48 | $326,863 |
| 12 August 2026 | Stafman Andrew Director | Sold | 500,000 | $247.08 | $124m |
| 10 August 2026 | ROTTENBERG ERIKA Director | Sold under a preset trading plan | 3,500 | $251.82 | $881,378 |
| 6 July 2026 | Shipchandler Khozema Chief Executive Officer, Director | Sold under a preset trading plan | 14,458 | $210.43 | $3m |
| 2 July 2026 | Viggiano Aidan Chief Financial Officer | Sold under a preset trading plan | 8,528 | $205.43 | $2m |
| 30 June 2026 | Viggiano Aidan Chief Financial Officer | Sold | 9,093 | $201.25 | $2m |
| 30 June 2026 | Shipchandler Khozema Chief Executive Officer, Director | Sold | 13,881 | $201.26 | $3m |
| 4 June 2026 | Shipchandler Khozema Chief Executive Officer, Director | Sold under a preset trading plan | 44,158 | $235.88 | $10m |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
What could go wrong
- It isn't cheap on profits: 149.1× operating profit.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.