Question 1

What is Duolingo's P/B ratio?

Accepted Answer

Duolingo (DUOL) P/B ratio is 3.8× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

What is a good P/B ratio for Duolingo?

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For Duolingo specifically, the relevant sector benchmark is the current sector median of 6.0×.

Question 5

Is Duolingo's P/B ratio high or low?

Accepted Answer

Duolingo's P/B ratio of 3.8× is below its own 5-year average of 13.2× and below the sector median of 6.0×. That places the current reading at the 4th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Duolingo's historical P/B ratio range?

Accepted Answer

In the available daily series, Duolingo (DUOL) P/B ratio has ranged from a low of 3.3× in 2026 to a high of 92.9× in 2019. The 5-year average is 13.2× and the 5-year median is 11.1×.

Question 7

What was Duolingo's P/B ratio in 2025?

Accepted Answer

Duolingo (DUOL) P/B ratio at the end of 2025 was 6.1×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 8

Why does Duolingo's P/B ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$8.18B	$1.35B	6.1×	-11.6×	Dec 31, 2025
2024	$14.56B	$824.55M	17.7×	+2.9×	Dec 31, 2024
2023	$9.65B	$655.50M	14.7×	+9.4×	Dec 31, 2023
2022	$2.87B	$542.08M	5.3×	-2.6×	Dec 31, 2022
2021	$4.06B	$513.06M	7.9×	-41.0×	Dec 31, 2021
2020	$4.99B	$101.92M	49.0×	-43.9×	Dec 31, 2020
2019	$4.99B	$53.71M	92.9×	—	Dec 31, 2019


ON Semiconductor (ON)	3.4×
Unity Software (U)	3.2×
Synopsys (SNPS)	3.0×
Science Applications International (SAIC)	2.9×
Zebra Technologies (ZBRA)	2.9×
Zoom Communications (ZM)	2.9×
Trimble (TRMB)	2.7×
Twilio (TWLO)	2.5×
Amkor Technology (AMKR)	2.5×
EPAM Systems (EPAM)	2.1×
Qorvo (QRVO)	2.1×
IonQ (IONQ)	2.1×
Intel (INTC)	2.0×
Roper Technologies (ROP)	2.0×
Cognizant (CTSH)	1.9×
Okta (OKTA)	1.9×
Super Micro Computer (SMCI)	1.8×
Lyft (LYFT)	1.7×
Block (XYZ)	1.7×
Block (SQ)	1.6×
Hewlett Packard Enterprise (HPE)	1.5×
Fidelity National Information Services (FIS)	1.5×
Skyworks Solutions (SWKS)	1.4×
Fiserv (FISV)	1.1×
Strategy (MSTR)	0.9×

P/B Ratio for Duolingo (DUOL)

P/B Ratio daily chart for Duolingo (DUOL)

Historical P/B Ratio for Duolingo (DUOL) from 2019 to 2025

About P/B Ratio at Duolingo (DUOL)

Duolingo P/B Ratio by Year

Duolingo P/B Ratio 2025: 6.1×

Duolingo P/B Ratio 2024: 17.7×

Duolingo P/B Ratio 2023: 14.7×

Duolingo P/B Ratio 2022: 5.3×

Duolingo P/B Ratio 2021: 7.9×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

Duolingo (DUOL) Key Financials

P/B Ratio daily chart for Duolingo (DUOL)

Historical P/B Ratio for Duolingo (DUOL) from 2019 to 2025

About P/B Ratio at Duolingo (DUOL)

Duolingo P/B Ratio by Year

Duolingo P/B Ratio 2025: 6.1×

Duolingo P/B Ratio 2024: 17.7×

Duolingo P/B Ratio 2023: 14.7×

Duolingo P/B Ratio 2022: 5.3×

Duolingo P/B Ratio 2021: 7.9×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

+What is Duolingo's P/B ratio?

+How is the P/B ratio calculated?

+What is the P/B ratio?

+What is a good P/B ratio for Duolingo?

+Is Duolingo's P/B ratio high or low?

+What is Duolingo's historical P/B ratio range?

+What was Duolingo's P/B ratio in 2025?

+Why does Duolingo's P/B ratio change over time?

Duolingo (DUOL) Key Financials