TTM
37.9%
YoY change
−0.92pp
Trough year (2019)
-2.3%
Peak year (2024)
36.5%
Latest annual
35.6%
FCF Margin history chart for Duolingo (DUOL) from 2019 to 2025
Latest: 35.6%
FCF Margin change chart for Duolingo (DUOL) from 2019 to 2025
Latest: −0.92pp
FCF Margin history table for Duolingo (DUOL) from 2019 to 2025
| 2025 | 35.6% | -0.92pp | ||
| 2024 | 36.5% | +8.23pp | ||
| 2023 | 28.3% | +15.31pp | ||
| 2022 | 13.0% | +10.79pp | ||
| 2021 | 2.2% | -6.64pp | ||
| 2020 | 8.9% | +11.15pp | ||
| 2019 | -2.3% | — |
- 202535.6%-0.92pp
- 202436.5%+8.23pp
- 202328.3%+15.31pp
- 202213.0%+10.79pp
- 20212.2%-6.64pp
- 20208.9%+11.15pp
- 2019-2.3%—
FCF Margin values are taken from Duolingo's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
About FCF Margin at Duolingo (DUOL)
According to Duolingo's latest reported financial statements, the company's latest reported free cash flow margin is 37.9%. Free cash flow margin is free cash flow divided by revenue — the share of each sales dollar that converts into cash after capital expenditures. Because free cash flow cannot be inflated by non-cash accounting, FCF margin is a clean read on how efficiently a business turns revenue into deployable cash.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
Duolingo (DUOL) most recent annual free cash flow margin stands at 35.63% (2025) – contracted 0.9 percentage points year-over-year.
The highest annual free cash flow margin of 36.55% was reported in 2024. The lowest in the available history was -2.29% in 2019.
Duolingo FCF Margin by Year
Duolingo FCF Margin 2025: 35.6%
Duolingo posted free cash flow margin of 35.63% in 2025, contracted 0.9 percentage points from 2024.
Duolingo FCF Margin 2024: 36.5%
In 2024, Duolingo reported free cash flow margin of 36.55%, expanded 8.2 percentage points from 2023. This figure represents the highest annual value in the available history.
Duolingo FCF Margin 2023: 28.3%
Duolingo free cash flow margin in 2023 was 28.32%, expanded 15.3 percentage points from 2022.
Duolingo FCF Margin 2022: 13.0%
2022's free cash flow margin for Duolingo came in at 13.02%, expanded 10.8 percentage points from 2021.
Duolingo FCF Margin 2021: 2.2%
Duolingo free cash flow margin in 2021 was 2.23%.
See more financial history for Duolingo (DUOL).
Sector peers by FCF Margin
Technology peers of Duolingo (DUOL), ranked by their latest free cash flow margin
| 47.0% | |
| 43.4% | |
| 28.6% | |
| 26.6% | |
| 25.5% | |
| 22.9% | |
| 22.9% | |
| 17.7% |
- 47.0%
- 43.4%
- 28.6%
- 26.6%
- 25.5%
- 22.9%
- 22.9%
Frequently asked questions
Duolingo (DUOL) Key Financials
Charts, filings, and peer comparison for every metric
Explore more
Deep-dives across the income statement, cash flow, capital return, and valuation