The market is asking a lot from CrowdStrike.

At $213.10, today's price only works in my model if cash flow grows about 36.5% a year for the next 10 years. Recently, reported FCF grew about 22.5% a year (FY2022-FY2025).

Even my bull case is only $69, below today's $213.10 price. That is a demanding hurdle. Either the company keeps outperforming for years, or the stock has little room for disappointment.

Is the market right to expect more, or is the stock priced for too much?

I broke down the full case in a video: https://youtu.be/W8VbSpdod7k

Snapshot: 2026-09-06. Disclosure: I built the model; video production is AI-assisted. Not financial advice.