PTC Inc. (PTC) financials
NASDAQ · Technology · Software - Application · 7,000 employees · CEO Neil Barua
- Price
- $195.54 +0.38%
- Market cap
- $21.2B
- Enterprise value
- $22.5B
- Last report
- Q3 '26 filed 2026-07-31
- Next report
- 2026-11-04 EPS est. $1.97
Revenue (TTM)$2.95B+19.5% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)37.8%+7.8 pp vs a year agoOperating income $1.12B
Net income (TTM)$1.22B+138.7% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)$935M+10.6% vs a year agoCapex $19.8M
Diluted EPS (TTM)$10.35+144.1% vs a year agoSum of the last 4 quarters
Net cash-$1.26B-3.6% vs a year agoCash + short-term investments - debt
Valuation & key figures
- Market cap
- $21.2B EV $22.5B
- Revenue
- $2.95B Trailing 12 months
- Revenue growth
- -1% FY2026 consensus
- Profit margin
- 41.4% Net income / revenue, TTM
- P/E
- 18.8× Forward 23.9× (FY2026)
- P/S
- 7.2× Price / sales, TTM
- EV / EBITDA
- 13.4× TTM
- Free cash flow
- $935M Trailing 12 months
- Net income
- $1.22B Trailing 12 months
- Revenue estimate
- $2.72B FY2026 consensus
- Earnings
- 2026-11-04 Revenue est. $664M
- Dividend
- – No dividend
Key takeaways
Computed from the reported numbers - every statement carries the figure it rests on.
- Last report (2026-07-29): revenue missed by 1.9%, EPS beat by 0.6%Revenue $600M vs $612M expected (-1.9%); EPS $1.58 vs $1.57 (+0.6%).
- Revenue growth slowing: -6.8% year on yearQ3 '26 revenue $600M, against an average of 27.5% over the four quarters before.
- Operating margin 37.8% (TTM), +7.8 pp on a year agoOperating income grew 50.4% while revenue grew 19.5%.
- 27.0% of pre-tax profit is non-operatingPre-tax income $1.53B vs operating income $1.12B (TTM). Gains on equity stakes and other one-off items lift net income and EPS - operating income is the cleaner measure of the business.
- Capex 0.7% of revenue (a year ago 0.6%)$19.8M invested in the last 4 quarters (+24.1% on a year earlier). Free cash flow $935M = 76.4% of net income.
- Returned $1.4B to shareholders = 149.8% of free cash flowBuybacks $1.4B (a year earlier $225M), dividends $0, stock-based pay $241M (TTM). More than the free cash flow: paid from cash or debt.
- Diluted share count down 4.6% in a year115M diluted shares in Q3 '26, 120M a year earlier.
- Net debt $1.26BCash + short-term investments $351M, debt incl. leases $1.61B; a year ago net debt $1.21B.
Last quarter: Q3 '26
Quarter ended 2026-06-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.
Quarter vs a year ago
| Q3 '26 | Year ago | Change | |
|---|---|---|---|
| Revenue | $600M | $644M | -6.8% |
| Gross margin | 81.7% | 82.9% | -1.2 pp |
| Operating income | $167M | $210M | -20.6% |
| Operating margin | 27.7% | 32.6% | -4.8 pp |
| Net income | $119M | $141M | -16.0% |
| Diluted EPS | $1.03 | $1.17 | -12.0% |
| Operating cash flow | $261M | $244M | +6.8% |
| Capex | $11.3M | $1.89M | +497.8% |
| Free cash flow | $249M | $242M | +3.0% |
| R&D | $116M | $117M | -0.8% |
| Stock-based compensation | $59.4M | $54M | +9.9% |
Reported vs consensus
2026-07-29| Actual | Consensus | vs consensus | |
|---|---|---|---|
| Revenue | $600M | $612M | -1.9% |
| EPS (as estimated) | $1.58 | $1.57 | +0.6% |
From the report of 2026-07-29 for Q3 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.
EPS vs consensus
last 8 reportsRevenue
Where the money comes from - by business line and by region, quarter by quarter.
Revenue, operating income and growth
quarterlyRevenue by business line
stacked, quarterly| Segment | Q3 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| License | $206M | -18.2% | 34.3% | $1.32B | +44.0% | |
| Support And Cloud Services | $371M | +0.3% | 61.8% | $1.54B | +7.0% | |
| Technology Service | $23.8M | -3.1% | 4.0% | $96M | -19.3% |
Revenue by region
share of total| Segment | Q3 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| Americas | $270M | -4.3% | 45.0% | $1.44B | +24.2% | |
| Europe | $203M | -15.4% | 33.8% | $1.08B | +17.5% | |
| Asia Pacific | $127M | +4.2% | 21.2% | $431M | +10.2% |
Margins & cost structure
How much of each unit of revenue is left at each level - and where the costs go.
Margins
quarterlyCosts as % of revenue
quarterlyCash flow & capital allocation
Cash generated, what it is spent on, and what reaches shareholders.
Operating cash flow, capex, free cash flow
quarterlyUses of cash vs operating cash flow
fiscal yearsLast 4 quarters
cash flow statement- Operating cash flow
- $955M
- Capex
- -$19.8M
- Buybacks
- -$1.4B
- Dividends
- $0
- Acquisitions
- $523M
- Net debt issued
- $1.04B
- Stock-based compensation
- $241M
- Free cash flow
- $935M
- Returned to shareholders / FCF
- 149.8%
Share count and EPS
quarterly, dilutedBalance sheet
Liquidity, investments and debt at each quarter end.
Cash, investments and debt
quarter endsValuation & returns
Today's multiples against the company's own last five fiscal years; analyst targets and ratings.
Multiples and returns
TTM vs 5 fiscal years| Now | 5y average | Where today sits in the 5-year range | |
|---|---|---|---|
| P/E (TTM) | 18.8× | 45.5× | 29.4× – 68.4× |
| EV / EBITDA | 13.4× | 27.2× | 22.6× – 31.9× |
| EV / Sales | 7.6× | 8.7× | 7.0× – 10.1× |
| Price / FCF | 22.7× | 31.5× | 28.4× – 40.7× |
| Price / Book | 6.5× | 6.3× | 5.3× – 6.9× |
| FCF yield | 4.4% | 3.2% | 2.5% – 3.5% |
| Return on invested capital | 17.1% | 10.0% | 7.3% – 14.4% |
| Return on equity | 32.6% | 15.4% | 9.2% – 23.4% |
Analysts
Consensus target $199.67 (+2.1%)
range $130.00 – $306.00 · rating Hold
Strong buy0
Buy13
Hold18
Sell2
Strong sell0
Outlook
Analyst consensus for the coming fiscal years and what it implies at today's price.
Consensus estimates
| Fiscal year | Revenue | Growth | EPS | Growth | P/E at today's price | Analysts (EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $2.72B | -0.6% | $8.19 | +34.7% | 23.9× | 11 |
| FY2027 | $2.9B | +6.4% | $8.92 | +8.9% | 21.9× | 11 |
| FY2028 | $3.12B | +7.6% | $9.88 | +10.8% | 19.8× | 5 |
| FY2029 | $3.4B | +9.0% | $8.81 | -10.9% | 22.2× | 1 |
Financial statements
Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.
Every reported line
All 256 figures PTC Inc. tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).
| Line (SEC label) | Latest quarter | Year ago | y/y | Latest FY | Prior FY | y/y |
|---|---|---|---|---|---|---|
| $1.1M | – | – | – | – | – | |
| Accounts Payable, Current | $34.9M | $8.7M | +301.3% | $11.5M | $24.2M | -52.5% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $824M | $713M | +15.6% | $1B | $862M | +16.1% |
| Accounts Receivable, after Allowance for Credit Loss, Noncurrent | $421M | – | – | $379M | $200M | +89.4% |
| Accounts Receivable, Allowance for Credit Loss, Current | $2.4M | $1.4M | +70.9% | $1.49M | $1.18M | +26.0% |
| Accrued Income Taxes | $85.2M | – | – | $28.7M | $40M | -28.3% |
| Accrued Income Taxes, Current | $85.2M | $101M | -15.7% | $28.7M | $40M | -28.1% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $284M2025-09-30 | $287M | -1.2% | $284M | $287M | -1.2% |
| Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax | $9.4M2025-09-30 | $10.5M | -10.5% | $9.4M | $10.5M | -10.5% |
| Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax | $40.8M2025-09-30 | $78.1M | -47.8% | $40.8M | $78.1M | -47.8% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$102M | -$71.6M | -42.5% | -$81.2M | -$102M | +20.2% |
| Additional Paid in Capital | $611M | $1.85B | -66.9% | $1.82B | $1.97B | -7.3% |
| Advertising Expense | – | – | – | $11.7M | $15M | -22.0% |
| Amortization of Intangible Assets | $12M | $11.5M | +3.9% | $45.9M | $42M | +9.4% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 800K | 400K | +100.0% | 1M2019-09-30 | – | – |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $49.8M | $37.4M | +33.2% | $213M | $221M | -3.6% |
| Asset Impairment Charges | – | – | – | $15.6M | – | – |
| Assets | $6.51B | $6.23B | +4.6% | $6.62B | $6.38B | +3.7% |
| Assets, Current | $1.37B | $1.09B | +25.9% | $1.38B | $1.3B | +6.5% |
| Assets, Fair Value Disclosure | $114M | $59M | +93.1% | $50.3M | $49.7M | +1.1% |
| Business Combination, Acquisition Related Costs | $2.9M | $1.6M | +81.3% | $9.1M | $3.1M | +193.5% |
| Capitalized Contract Cost, Accumulated Impairment | $02025-09-30 | $0 | – | $0 | $0 | – |
| Capitalized Contract Cost, Amortization | – | – | – | $54M | $52M | +3.8% |
| Cash and Cash Equivalents, at Carrying Value | $351M | $199M | +76.3% | $184M | $266M | -30.6% |
| Cash and Cash Equivalents, Fair Value Disclosure | $109M | $52.8M | +106.2% | $38M | $48.5M | -21.6% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $352M | $200M | +76.1% | $185M | $266M | -30.6% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | -$87.7M | -$35.8M | -144.5% | -$81.5M | -$22.3M | -264.8% |
| Common Stock, Par or Stated Value Per Share | $0.01 | $0.01 | 0.0% | $0.01 | $0.01 | 0.0% |
| Common Stock, Shares Authorized | 500M | 500M | 0.0% | 500M | 500M | 0.0% |
| Common Stock, Shares, Issued | 111M | 120M | -7.6% | 120M | 120M | -0.5% |
| Common Stock, Shares, Outstanding | 111M | 120M | -7.6% | 120M | 120M | -0.5% |
| Common Stock, Value, Issued | $1.11M | $1.2M | -7.6% | $1.2M | $1.2M | -0.6% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $109M | $189M | -42.0% | $755M | $393M | +92.1% |
| Contract with Customer, Asset, after Allowance for Credit Loss | $13.8M | $8.41M | +64.0% | $11M | $14.4M | -23.4% |
| Contract with Customer, Asset, Credit Loss Expense (Reversal) | – | – | – | $02024-09-30 | $0 | – |
| Contract with Customer, Asset, Reclassified to Receivable | – | – | – | $10.9M2024-09-30 | $12.3M | -11.4% |
| Contract with Customer, Liability, Current | $700M | $758M | -7.6% | $812M | $754M | +7.7% |
| Contract with Customer, Liability, Noncurrent | $12.2M | $19.5M | -37.2% | $14.8M | $21.2M | -30.3% |
| Contract with Customer, Liability, Revenue Recognized | $159M | $129M | +24.0% | $749M | $646M | +16.0% |
| Contract with Customer, Refund Liability | $44.1M | $33.4M | +32.0% | $39.7M | $26M | +52.7% |
| Cost of Goods and Services Sold | $110M | $110M | -0.4% | $445M | $445M | 0.0% |
| Cost, Amortization | $7.75M | $8.18M | -5.2% | $32.8M | $38.5M | -14.7% |
| Current Federal Tax Expense (Benefit) | – | – | – | $128M | $44.6M | +187.2% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $62.5M | $61.7M | +1.3% |
| Current Income Tax Expense (Benefit) | – | – | – | $212M | $132M | +61.4% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $21.8M | $25.4M | -14.2% |
| Debt Instrument, Interest Rate During Period | 4.6% | 5.0% | -8.0% | 4.9% | 5.4% | -9.3% |
| Debt Instrument, Periodic Payment, Interest | – | – | – | $77.8M | $137M | -43.2% |
| Debt Issuance Costs, Gross, Current | – | – | – | $4.2M2023-09-30 | – | – |
| Debt Issuance Costs, Net | – | – | – | $9.2M2023-09-30 | – | – |
| Debt, Long-term and Short-term, Combined Amount | $1.42B | $1.23B | +15.4% | $1.2B | $1.75B | -31.5% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | -$43.3M | -$60.4M | +28.2% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | $32.7M | $28.7M | +13.8% |
| Deferred Income Tax Assets, Net | $101M | $209M | -52.0% | $194M | $159M | +21.7% |
| Deferred Income Tax Expense (Benefit) | – | – | – | -$26.3M | -$39M | +32.7% |
| Deferred Income Tax Liabilities, Net | $30.2M | $35.7M | -15.2% | $30.2M | $32.2M | -6.4% |
| Deferred Revenue | $713M | $777M | -8.3% | $827M | $775M | +6.7% |
| Deferred Revenue, Additions | – | – | – | $801M | $738M | +8.5% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | -$15.6M | -$7.39M | -111.6% |
| Deferred Tax Assets, Capital Loss Carryforwards | $4.52M2025-09-30 | $3.88M | +16.6% | $4.52M | $3.88M | +16.6% |
Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.
Sources
Statements, segment revenue, metrics and estimates are standardised from the company's filings. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-Q 2025-12-31, 10-K 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-Q 2024-12-31, 10-K 2024-09-30, 10-Q 2024-06-30
Data as of 2026-11-02