Splunk Inc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Splunk Inc (SPLK) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Splunk Inc vs Its Competitors
- TTM: Trailing 12-month revenue of 3,979M vs 1,856,680M combined for tracked competitors (0.2% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+7.2% annualized vs trailing 12 months), vs decelerating (-24.7%) for its tracked peer group.
- Growth: Splunk Inc generated 14.7% revenue growth year over year in Q3 2023, vs 9.9% for its tracked competitors combined.
- Profitability: Its 9.1% net margin compares with 16.5% for the peer group.
- Peer revenue share: Splunk Inc accounted for 0.3% of combined revenue among its tracked peer group, up from 0.3% a year earlier.
- Peer differentiation: Revenue per employee of $0.55M compares with $0.73M for the peer group (0.8x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
SPLK Sales vs. its Competitors, Q3 2023
Splunk Inc reported revenue growth of 14.69 % year on year in Q3 2023, above its competitors' combined revenue growth of 9.89 %.
With a net margin of 9.08 %, Splunk Inc reported lower profitability than its competitors (16.47 %).
Splunk Inc generated 0.30 % of the combined sales of its peer group, up from 0.29 % a year earlier.
Splunk Inc vs. its Competitors, Q3 2023
Revenue growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in an SEC filing; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Splunk Inc and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Splunk Inc | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (12) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (5) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Splunk Inc's competitor groups requires a Commercial License.
For context: the Software & Programming industry grew revenue 16.4% year over year, combined, vs 14.7% for Splunk Inc. Splunk Inc's share of combined industry revenue moved from 0.34% to 0.33%, a loss of 0.01 percentage points.
Splunk Inc's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Splunk Inc | Yes | Yes | Yes | Yes |
| Competitors combined (40) | ||||
| High-Confidence Competitors (14) | ||||
| Similar Growth & Profitability (8) | 0.00 % (0 of 8) | 100.00 % (8 of 8) | 87.50 % (7 of 8) | 50.00 % (4 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
SPLK Stock Performance relative to its Competitors
SPLK Stock Performance relative to High-Confidence Competitors
SPLK Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Intel Corporation | 282.9% | Outperformed |
| 2 | Fastly Inc | 282.9% | Outperformed |
| 3 | Datadog Inc | 282.9% | Outperformed |
| 4 | Jfrog Ltd | 282.9% | Outperformed |
| 5 | Solarwinds Corporation | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Splunk Inc's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Splunk Inc's Comment on Competition and Industry Peers
We compete against a variety of large software vendors and smaller specialized
companies, open source projects and custom development efforts, which provide
solutions in the specific markets we address. Our principal competitors include:
IT departments of potential customers which have undertaken custom software
development efforts to analyze and manage their machine data;
companies targeting the big data market by commercializing open source software,
such as the various Hadoop distributions and NoSQL data stores, including Elastic;
security, systems management and other IT vendors, including BMC Software, CA
Technologies, Micro Focus, IBM, Intel, Microsoft, and VMware;
business intelligence vendors, analytics and visualization vendors, including
IBM and Oracle; and
cloud service providers, as well as small, specialized vendors that provide
complementary or competitive solutions in enterprise data analytics, log aggregation
and management, data warehousing and big data technologies that may compete
with our offerings.
The principal competitive factors in our markets are product features, performance
and support, product scalability and flexibility, ease of deployment and use,
total cost of ownership and time to value. We believe that we generally compete
favorably on the basis of these factors. For example, Splunk Enterprise, Splunk
Cloud, and our premium solutions all contain rich feature sets that reduce costly
deployment cycles typically associated with enterprise software.
Some of our actual and potential competitors have advantages over us, such as
longer operating histories, significantly greater financial, technical, marketing
or other resources, stronger brand and business user recognition, larger intellectual
property portfolios, broader global distribution and presence, and competitive
pricing. In addition, our industry is evolving rapidly and is becoming increasingly
competitive. Larger and more established companies may focus on operational
intelligence and could directly compete with us. Companies may develop open
source based alternatives that, customers may conclude, offer equivalent or
superior functionality to our Splunk offerings. Smaller companies could also
launch new offerings that we do not offer and that could gain market acceptance
quickly.
Publicly Traded Peers of Splunk Inc
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| Splunk Inc | 29,180.58 | 3,978.68 |
| Alphabet Inc | 4,194,168.66 | 445,866.00 |
| Microsoft Corporation | 3,822,643.70 | 331,839.00 |
| Amazon com Inc | 2,716,482.45 | 776,231.00 |
| Intel Corporation | 613,653.92 | 57,032.00 |
| Palantir Technologies Inc | 480,474.21 | 6,156.87 |
| SUBTOTAL | 12,987,084.58 | 1,874,570.18 |
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Sources: Splunk Inc's official press releases and regulatory filings; CSIMarket.com's market research; and the financial filings and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Splunk Inc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Splunk Inc's Competitors Named by the Company
Competitive relationships identified from SEC filings and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Datadog Inc | Named by the company | 85% |
| Pagerduty Inc | Named by the company | 85% |
| Dynatrace Inc | Named by the company | 85% |
| Visium Technologies Inc | Named by the company | 85% |
| Elastic N v | Named by the company | 85% |
| Amazon | Named by the company | 85% |
| Intel | Named by the company | 85% |
| Named by the company | 85% | |
| Oracle | Named by the company | 85% |
| New Relic Inc | Named by the company | 85% |
| BMC Software | Named by the company | 85% |
| Micro Focus | Named by the company | 85% |
| Sentinelone Inc | Named by the company | 85% |
| IBM | Named by the company | 85% |
| VMware | Named by the company | 85% |
| Cisco AppDynamics | Named by the company | 85% |
| Microsoft | Named by the company | 85% |
| Rapid7 Inc | Named by the company | 85% |
| Tenable Holdings Inc | Named by the company | 85% |
| Akamai Technologies Inc | Named by the company | 85% |
| Palantir Technologies Inc | Named by the company | 85% |
| Solarwinds Corporation | Named by the company | 85% |
| Mandiant Inc. | Named by the company | 85% |
| Secureworks Corp | Named by the company | 85% |
| Varonis Systems Inc | Named by the company | 85% |
| Alphabet Inc | Named by the company | 85% |
| Qualys Inc | Named by the company | 85% |
| Sumo Logic Inc | Named by the company | 85% |
| Cloudflare Inc | Named by the company | 85% |
| Extreme Networks Inc | Named by the company | 85% |
| Mimecast Limited | Named by the company | 85% |
Filing basis, confidence, active dates and source counts for Splunk Inc's named competitors require a Commercial License.
Methodology: relationships are extracted from SEC filings (named-competitor disclosures) and corroborating sources. Named by the company = explicitly disclosed as a competitor; Inferred = derived from corroborating signals. Confidence reflects evidence strength.
Splunk Inc's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Alphabet Inc | Google Services 85.60 % |
| Microsoft Corporation | Productivity and Business Processes 42.19 % |
| Amazon com Inc | North America 57.75 % |
| Intel Corporation | Client Computing Group 56.91 % |
| Palantir Technologies Inc | Government Operating 51.15 % |
Source: operating segment revenue as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Splunk Inc's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Splunk Inc | 29,181 | 552,594 | 14,719 |
| Alphabet Inc | 4,194,169 | 9,645,768 | 5,283,078 |
| Microsoft Corporation | 3,822,644 | 1,488,067 | 599,771 |
| Amazon com Inc | 2,716,482 | 492,532 | 85,838 |
| Intel Corporation | 613,654 | 670,176 | -133,690 |
| Palantir Technologies Inc | 480,474 | 1,390,126 | 684,290 |
| PEERS TOTAL | 12,957,904 | 728,999 | 211,721 |
Splunk Inc's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent filing. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Splunk Inc | United States 68.97 % |
| Alphabet Inc | United States 47.77 % |
| Microsoft Corporation | US 51.47 % |
| Oracle Corporation | Americas 63.46 % |
| International Business Machines Corporation | Americas 49.04 % |
| Cloudflare Inc | United States 49.38 % |
Source: revenue geography as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Splunk Inc's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Software & Programming industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (347 companies). See the full Software & Programming industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 79.08 % | 63.85 % (avg) | +15.2 pp |
| Operating Margin | -21.05 % | industry median | -6.8 pp |
| EBITDA Margin | 12.25 % | 2.76 % (avg) | +9.5 pp |
| Capital Intensity (Capex / Revenue) | 0.64 % | 4.77 % (avg) | -4.1 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Splunk Inc's Valuation vs Competitive Position
Valuation multiples vs the Software & Programming industry average (347 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Software & Programming industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 198.6x | 39.4x | +159.2x |
| EV / EBITDA | 51.6x | 21.7x | +29.9x |
| P/B | -886.7x | 5.4x | -892.1x |
| Return on Equity | -397.61 % | industry aggregate | -416.79 % |
| Return on Invested Capital | -25.02 % | -0.30 % (avg) | -24.72 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Splunk Inc's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in SEC filings.| Metric | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | 48.25 % | 42.12 % | 33.77 % | 41.88 % | 30.83 % | 0.00 % | 19.93 % | 36.66 % |
| Operating Margin | -43.07 % | -36.19 % | -20.01 % | -13.93 % | -12.17 % | -12.17 % | -29.18 % | -31.39 % |
| Return on Invested Capital | -15.92 % | -18.61 % | -11.87 % | -6.79 % | -5.31 % | -4.82 % | -16.92 % | -41.34 % |
| P/E | - | - | - | - | - | - | - | - |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Splunk Inc's Strategic Group Map
Every company in Splunk Inc's industry and named-competitor list, plotted by trailing 12-month revenue growth and operating margin. Splunk Inc is shown in red; its closest peers by combined growth, margin and ROIC (the Similar Growth & Profitability group above) are labeled.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Splunk Inc's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 0.64 % vs industry average 4.77 % (see Profitability & Cost Structure above) |
| Supplier Power | Not covered on this page | See Splunk Inc's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See Splunk Inc's dedicated customers page for concentration and dependency data |
| Threat of Substitutes | - | No systematic data source for cross-product substitution exists in this system; not estimated |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments.
Splunk Inc's Industry Attractiveness & Competitive Strength
A CSIMarket composite, not a standard field: each axis is an equal-weighted average of three factors already shown elsewhere on this page (industry growth, industry profitability and rivalry for attractiveness; relative market share, profitability and growth vs industry for strength). Disclosed as a designed methodology, not a precision measurement.
Splunk Inc falls in the Low attractiveness / High strength cell: Selective.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Splunk Inc's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Latest-quarter revenue run-rate is accelerating (+7.2% annualized vs trailing 12 months).
Weaknesses
- Operating margin 6.8 points below the industry median.
- Return on equity 416.8 points below the industry aggregate.
- Piotroski F-Score of 2 or below, the standard financial-distress signal.
Opportunities
- Industry revenue growing at a healthy 11.6% median pace.
Threats
- Tracked peer group's revenue run-rate is broadly decelerating (-24.7% annualized).
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
Splunk Inc's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Splunk Inc | 0.38 | 1.39 | - |
| Alphabet Inc | 0.55 | 2.13 | 0.13 |
| Microsoft Corporation | 0.13 | 1.31 | 0.11 |
| Amazon com Inc | 0.38 | 1.07 | 0.21 |
| Intel Corporation | 0.44 | 1.86 | 0.40 |
| Palantir Technologies Inc | 1.40 | 6.94 | - |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Splunk Inc's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Splunk Inc | Q3 2023 | +14.7 % | - |
| Alphabet Inc | Q2 2026 | +24.2 % | +297.9 % |
| Microsoft Corporation | Q2 2026 | +17.7 % | +31.3 % |
| Amazon com Inc | Q2 2026 | +19.9 % | +244.9 % |
| Intel Corporation | Q2 2026 | +25.4 % | - |
| Palantir Technologies Inc | Q2 2026 | +93.0 % | +224.4 % |
| PEERS TOTAL | +19.7 % | +172.9 % |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Splunk Inc's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Splunk Inc | Q3 2023 | +3.6 % | +109.8 % |
| Alphabet Inc | Q2 2026 | +17.7 % | +100.1 % |
| Microsoft Corporation | Q2 2026 | +22.9 % | +109.6 % |
| Amazon com Inc | Q2 2026 | +18.5 % | +300.3 % |
| Intel Corporation | Q2 2026 | +3.2 % | -28.0 % |
| Palantir Technologies Inc | Q2 2026 | +54.6 % | +90.6 % |
Splunk Inc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Splunk Inc | 1.78% | 3.14% | - |
| Alphabet Inc | 35.42% | 42.01% | 50.84% |
| Microsoft Corporation | 19.76% | 22.48% | 34.22% |
| Amazon com Inc | 15.21% | 23.40% | 30.50% |
| Intel Corporation | - | - | - |
| Palantir Technologies Inc | 31.17% | 34.61% | 37.17% |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Splunk Inc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Splunk Inc | 245.16 | 7.33 |
| Alphabet Inc | 17.11 | 9.41 |
| Microsoft Corporation | 28.57 | 11.52 |
| Amazon com Inc | 20.03 | 3.50 |
| Intel Corporation | - | 10.76 |
| Palantir Technologies Inc | 159.87 | 78.04 |
| PEERS AVERAGE | 23.90 | 6.93 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.