NASDAQ: PTC
PTC
Technology · Services-Prepackaged Software
52-week range
Stock price
Market cap
At each fiscal year end, then the latest quarter end: closing price × shares outstanding.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$12.3B
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| Period | Market cap |
|---|---|
| FY2016, ended Sep 30, 2016 | $5.12B |
| FY2017, ended Sep 30, 2017 | $6.54B |
| FY2018, ended Sep 30, 2018 | $12.6B |
| FY2019, ended Sep 30, 2019 | $7.87B |
| FY2020, ended Sep 30, 2020 | $9.65B |
| FY2021, ended Sep 30, 2021 | $14.1B |
| FY2022, ended Sep 30, 2022 | $12.3B |
| FY2023, ended Sep 30, 2023 | $16.9B |
| FY2024, ended Sep 30, 2024 | $21.7B |
| FY2025, ended Sep 30, 2025 | $24.2B |
| Trailing 12 months to Jun 30, 2026 (through Q3 FY2026) | $12.3B |
Revenue
By fiscal year, then the trailing 12 months.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$2.95B
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| Period | Revenue |
|---|---|
| FY2016, ended Sep 30, 2016 | $1.14B |
| FY2017, ended Sep 30, 2017 | $1.16B |
| FY2018, ended Sep 30, 2018 | $1.24B |
| FY2019, ended Sep 30, 2019 | $1.26B |
| FY2020, ended Sep 30, 2020 | $1.46B |
| FY2021, ended Sep 30, 2021 | $1.81B |
| FY2022, ended Sep 30, 2022 | $1.93B |
| FY2023, ended Sep 30, 2023 | $2.10B |
| FY2024, ended Sep 30, 2024 | $2.30B |
| FY2025, ended Sep 30, 2025 | $2.74B |
| Trailing 12 months to Jun 30, 2026 (through Q3 FY2026) | $2.95B |
Net income and free cash flow
By fiscal year, then the trailing 12 months. Free cash flow is operating cash flow minus capex.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.Show tableHide table
| Period | Net income | Free cash flow |
|---|---|---|
| FY2016, ended Sep 30, 2016 | −$54.5M | $157M |
| FY2017, ended Sep 30, 2017 | $6.24M | $110M |
| FY2018, ended Sep 30, 2018 | $52.0M | $212M |
| FY2019, ended Sep 30, 2019 | −$27.5M | $221M |
| FY2020, ended Sep 30, 2020 | $131M | $214M |
| FY2021, ended Sep 30, 2021 | $477M | $344M |
| FY2022, ended Sep 30, 2022 | $313M | $416M |
| FY2023, ended Sep 30, 2023 | $246M | $587M |
| FY2024, ended Sep 30, 2024 | $376M | $736M |
| FY2025, ended Sep 30, 2025 | $734M | $857M |
| Trailing 12 months to Jun 30, 2026 (through Q3 FY2026) | $1.22B | $935M |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$351M
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| Period | Cash and cash equivalents |
|---|---|
| FY2016, ended Sep 30, 2016 | $278M |
| FY2017, ended Sep 30, 2017 | $280M |
| FY2018, ended Sep 30, 2018 | $260M |
| FY2019, ended Sep 30, 2019 | $270M |
| FY2020, ended Sep 30, 2020 | $275M |
| FY2021, ended Sep 30, 2021 | $327M |
| FY2022, ended Sep 30, 2022 | $272M |
| FY2023, ended Sep 30, 2023 | $288M |
| FY2024, ended Sep 30, 2024 | $266M |
| FY2025, ended Sep 30, 2025 | $184M |
| Trailing 12 months to Jun 30, 2026 (through Q3 FY2026) | $351M |
Total debt
At each fiscal year end, then the latest quarter end. Short- and long-term borrowings, excluding leases.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$1.40B
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| Period | Total debt |
|---|---|
| FY2016, ended Sep 30, 2016 | — |
| FY2017, ended Sep 30, 2017 | — |
| FY2018, ended Sep 30, 2018 | $643M |
| FY2019, ended Sep 30, 2019 | $669M |
| FY2020, ended Sep 30, 2020 | $1.01B |
| FY2021, ended Sep 30, 2021 | $1.44B |
| FY2022, ended Sep 30, 2022 | $1.35B |
| FY2023, ended Sep 30, 2023 | $1.69B |
| FY2024, ended Sep 30, 2024 | $1.23B |
| FY2025, ended Sep 30, 2025 | $1.17B |
| Trailing 12 months to Jun 30, 2026 (through Q3 FY2026) | $1.40B |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Down 6.1% since 2016.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.109M
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| Period | Shares outstanding |
|---|---|
| FY2016, ended Sep 30, 2016 | 116M |
| FY2017, ended Sep 30, 2017 | 116M |
| FY2018, ended Sep 30, 2018 | 119M |
| FY2019, ended Sep 30, 2019 | 115M |
| FY2020, ended Sep 30, 2020 | 117M |
| FY2021, ended Sep 30, 2021 | 118M |
| FY2022, ended Sep 30, 2022 | 117M |
| FY2023, ended Sep 30, 2023 | 119M |
| FY2024, ended Sep 30, 2024 | 120M |
| FY2025, ended Sep 30, 2025 | 119M |
| Trailing 12 months to Jun 30, 2026 (through Q3 FY2026) | 109M |
Buybacks and new shares
By fiscal year, then the trailing 12 months, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.Net: $1.13B more bought back than issued
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| Period | Bought back | Paid to employees | Sold for cash |
|---|---|---|---|
| FY2016, ended Sep 30, 2016 | $0 | $66.0M | $21.0K |
| FY2017, ended Sep 30, 2017 | $51.0M | $76.7M | $10.8M |
| FY2018, ended Sep 30, 2018 | $1.10B | $82.9M | $1.02B |
| FY2019, ended Sep 30, 2019 | $115M | $86.4M | $13.0M |
| FY2020, ended Sep 30, 2020 | $0 | $115M | $18.4M |
| FY2021, ended Sep 30, 2021 | $30.0M | $177M | $21.6M |
| FY2022, ended Sep 30, 2022 | $125M | $175M | $21.2M |
| FY2023, ended Sep 30, 2023 | $0 | $206M | $21.7M |
| FY2024, ended Sep 30, 2024 | $0 | $223M | $25.7M |
| FY2025, ended Sep 30, 2025 | $300M | $216M | $26.1M |
| Trailing 12 months to Jun 30, 2026 (through Q3 FY2026) | $1.40B | $241M | $25.9M |
Revenue (TTM)
$2.95B
+19.5% YoY
Net income (TTM)
$1.22B
+139% YoY
Cash
$351M
+76.3% YoY
Total debt
$1.40B
+15.7% YoY
Valuation
At current price- Market Cap
- $21.2B
- P/E
- 17.3×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 7.2×
- Price / Book
- 6.1×
- EV / EBITDA
- 18.3×
Growth
Trailing 12 months- Revenue (TTM)
- $2.95B
- Revenue Growth YoY
- 19.5%
- Revenue CAGR 3Y
- 12.3%
- Revenue CAGR 5Y
- 13.4%
- EPS Growth YoY
- 143%
- Net Income Growth YoY
- 139%
Profitability
Trailing 12 months- Gross Margin
- 84.5%
- Operating Margin
- 37.8%
- Net Margin
- 41.4%
- FCF Margin
- 31.7%
- Return on Equity
- 35.1%
Earnings
Trailing 12 months- Net Income
- $1.22B
- EPS (diluted)
- $10.31
- EBITDA
- $1.22B
- Operating Income
- $1.12B
Balance Sheet
As of Jun 30, 2026- Cash and cash equivalents
- $351M
- Total Debt
- $1.40B
- Net Debt
- $1.05B
- Total Assets
- $6.51B
- Total Liabilities
- $3.04B
- Shareholders' Equity
- $3.47B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $955M
- Capital Expenditure
- $19.8M
- Free Cash Flow
- $935M
Dividends and risk
Last 12 months- Dividend Yield
- 0.0%
- Dividend / Share
- $0.00
- Beta (5Y)
- 1.00
Every ratio is calculated from the company’s reported figures.
Strength
Revenue is up 19.5% year over year, at $2.95B.
Strength
Operating margin widened 7.8 pts in a year, to 37.8%.
Note
Net debt of $1.05B is 0.9× EBITDA, a manageable load.
Strength
Turns 31.7% of revenue into free cash flow.
Written by fixed rules from the reported figures, not by a person or an AI.
Latest report
Pro10-K for the fiscal year ended Sep 30, 2025 · filed Nov 21, 2025
The score and findings for the newest report are part of CoreStock Pro, coming soon. Every earlier report is free.
Score of each annual report
0 to 100 · 60 means nothing notable · tap a column for its details
2024 · 10-K72Good news
10-K for the fiscal year ended Sep 30, 2024
Filed Nov 14, 2024 · Read the filing on EDGAR
- Revenue rose 10% to $2.30 billion, operating income rose 28% to $588.1 million, and net income rose 53% to $376.3 million.
- Annual run rate of subscription contracts (ARR) grew 14% to $2.25 billion, and free cash flow rose 25% to $736 million despite a challenging demand environment.
- PTC paid the final $650 million ServiceMax installment and bought pure-systems for $93.5 million, ending the year with $1.75 billion of debt.
- The board authorized up to $2 billion of buybacks through September 2027, with about $300 million planned for FY'25.
Business momentum
Strong improvement
“Revenue grew 10% (9% constant currency) in FY'24 compared to FY'23.”
Outlook
Neutral
“We currently intend to repurchase approximately $300 million of our common stock in FY'25.”
Financial stress
Low
“We believe that existing cash and cash equivalents, together with cash generated from operations and amounts available under the credit facility, will be sufficient to meet our working capital and capital expenditure requirements through at least the next twelve months”
Tone against the previous report
More positive
Red flags
None found in this report.
Positives
Subscription base kept growing at a double-digit rate
“Despite the overall demand environment, which has been challenging for many quarters now, ARR grew 14% (12% constant currency) to $2.25 billion as of the end of FY'24 compared to FY’23.”
Strong growth in cash generated by the business
“Free cash flow grew 25% to $736 million in FY'24 compared to FY'23.”
Plans to return about half of free cash flow to shareholders
“Our long-term goal is to return approximately 50% of our free cash flow to shareholders via share repurchases”
Concerns
Customer demand remains challenging, and manufacturers may delay purchases
“Customers may delay, reduce, or forego purchases of our solutions due to these challenges and concerns”
Debt remains large, with $500 million of notes due February 2025
“We have a substantial amount of indebtedness.”
Part of the revenue growth came from an acquisition, not existing business
“Our acquisition of ServiceMax in early Q2'23 contributed to FY'24 revenue growth.”
New risks since the previous report
New European sustainability rules could raise costs and cost PTC customers
“Compliance with these directives requires significant investment in resources, including the implementation of new reporting systems, data collection processes, and due diligence procedures.”
Growing reliance on outside cloud infrastructure providers it does not control
“We use a number of third-party service providers that we do not control for key components of our infrastructure, particularly with respect to development and delivery of our cloud-based products.”
Shift to selling cloud software needs heavy investment and may not succeed
“Transforming our business to offer and support SaaS solutions requires considerable additional investment in our organization.”
Political instability and armed conflict affecting operations, including in Israel
“exposure of our operations and employees to political instability and armed conflict in the countries and regions in which we operate, including Israel”
Biggest risks named
- Substantial debt, covenant limits and variable interest rates
- Competition, especially from cloud-based software rivals
- Cyberattacks on products, systems and hosted customer data
- Dependence on manufacturers amid economic uncertainty
- Execution of the shift to cloud software and reliance on cloud providers
Artificial intelligence in this business: Not mentioned
How the score adds up
| Starting point | 60 | |
| Business momentum | +12 | |
| Outlook | 0 | |
| Tone against the previous report | +2 | |
| Financial stress | 0 | |
| Red flags | 0 | |
| New risks | −2 | |
| Score | 72 | |
Written by AI (Claude Opus 5.5) from the report’s text. 13 of 13 quotes were found word for word in the filing; the rest are left out. Not investment advice.
All scored reports
| Period | Report | Filed | Score | Momentum | Red flags |
|---|---|---|---|---|---|
| 10-K | Nov 21, 2025 | Pro | |||
| 10-K | Nov 14, 2024 | 72 | Strong improvement | None | |
| 10-K | Nov 20, 2023 | 55 | Mixed | 1 minor | |
| 10-K | Nov 15, 2022 | 64 | Improving | None | |
| 10-K | Nov 22, 2021 | 74 | Strong improvement | 1 minor | |
| 10-K | Nov 20, 2020 | 70 | Strong improvement | None | |
| 10-K | Nov 18, 2019 | 46 | Sharp deterioration | None | |
| 10-K | Nov 16, 2018 | 72 | Strong improvement | 1 minor | |
| 10-K | Nov 29, 2017 | 75 | Strong improvement | None | |
| 10-K | Nov 18, 2016 | 32 | Sharp deterioration | 1 minor |
How these scores work
An AI model reads the management discussion, risk factors and legal sections of each report and records what they say, quoting the filing word for word. Fixed rules then turn those findings into a score from 0 to 100, where 60 means nothing notable either way. A score describes the report, not whether the stock is a good investment, and the AI may know how things turned out later, which can colour older scores. Read the methodology
From the 10-Q for Q3 FY2026 (period ended Jun 30, 2026), filed Jul 31, 2026. View filings on SEC EDGAR